Hiscox launches share placing and predicts business interruption insurance hit of £10m to £250m May 5, 2020 Lloyd’s insurer Hiscox launched an equity placing of 20 per cent of its share capital and said its business interruption insurance exposure could range from £10m to £250m today. Based on its share price at close the placing could raise approximately £400m. Hiscox is facing potential legal action from a group of policyholders who say [...]
Dragon can leave Valley punters Happy in finale May 5, 2020 The highlight race of the afternoon at the Valley has to be the £200,000 Class 2 Camellia Handicap (3.50pm) over the extended mile. Both Dances With Dragon and Enrichment lock horns again having produced one of the most thrilling finishes of the Happy Valley season last month. On that occasion, Zac Purton, aboard Dances With Dragon, [...]
Barclays approves over 32,000 ‘bounce back’ loans May 5, 2020 Barclays has approved over 32,000 “bounce back” loans since the scheme was launched yesterday. Yesterday, the bank said it received 35 loan applications per minute when the government launched the new scheme. Barclays UK chief executive Matt Hammerstein told a House of Commons committee that the bank had received 200 applications within minutes of opening [...]
Hong Kong Racing Tips: Moreira and Millard Alliance looks worth backing May 5, 2020 HONG Kong’s two most dominant jockeys, Joao Moreira and Zac Purton, could be set to take Happy Valley by storm on Wednesday. Moreira (110 wins) and Purton (109 wins) are having their own private battle for the jockeys’ title, with Karis Teetan 46 winners behind Purton in a distant third. Both jockeys arrive at the [...]
Activists and coronavirus: Funds will target devalued firms after crisis May 5, 2020 Much has been made of the comparison between the coronavirus crisis and the global financial crash over a decade ago. The pandemic has left dozens of listed UK companies in need of a lifeline, with the travel and leisure sectors devastated by government-imposed restrictions. FTSE firms across all sectors have witnessed their stocks implode as [...]
UK warns of state-backed cyber criminals ‘exploiting’ coronavirus crisis May 5, 2020 Cyber criminal groups are using the coronavirus outbreak as an opportunity to target national and international groups responding to the crisis, according to Dominic Raab. The foreign secretary said today that there was evidence that cyber criminals were “stealing bulk personal data, intellectual property and wider information” and that the groups were “often linked with other [...]
Airline body says face masks should be worn on flights to prevent the spread of coronavirus May 5, 2020 The industry body representing global airlines has recommended passengers wear masks on flights to prevent the spread of coronavirus once flying restarts. David Powell, medical adviser to the International Air Transportation Association (IATA), said while normal seat allocation can be maintained, face masks should be worn on board. Some major US airlines have already introduced [...]
Coronavirus: Grosvenor Group ‘very cautious’ on new property deals May 5, 2020 Property group Grosvenor today said it was “very cautious” on new commitments due to the “severe” economic shock caused by the coronavirus crisis. Despite the cautious outlook the company, which is owned by the Duke of Westminster, said it was positive about its planned projects, including a 1,500 home development in Bermondsey and a joint [...]
Virgin Atlantic to cut 3,150 jobs and quit Gatwick base May 5, 2020 Virgin Atlantic will cut a third of its workforce and cease its operations at Gatwick airport in a bid to survive the coronavirus crisis, the embattled airline announced today. The carrier, which will cut 3,150 of 10,000 strong workforce, is the latest airline to announce major job cuts after Ryanair and British Airways. In a [...]
Travel industry calls on government to extend refund payment timetable May 5, 2020 The UK’s leading travel association has called on the government to extend the time period in which holiday firms must refund customers or risk “huge job losses”. Under current rules, travel firms are legally obliged to refund customers within 14 days, a timeline that ABTA chief Mark Tanzer described as “impossible” in the current circumstances. [...]
