‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Imagination Technologies boss poised to quit over China Reform raid April 6, 2020 The boss of Imagination Technologies is reportedly on the brink of resigning as a state-owned Chinese company attempts to seize control of the board. Chief executive Ron Black, who has run the firm since December 2018, has signalled his intention to quit in protest at China Reform’s move to appoint four new directors, according to [...]
UK coronavirus deaths hit 5,000 but daily rate slows April 6, 2020 The UK coronavirus death toll has risen past 5,000, but the daily rate of growth slowed for the second consecutive day. A total of 5,373 have now died after a further 439 deaths were recorded, the Department of Health has confirmed. However, it marks the second consecutive day that the number of daily deaths have [...]
Debenhams administration could provide blueprint for ‘freezing’ companies during coronavirus crisis April 6, 2020 Debenhams today gave notice to appoint administrators for what it said would be a “light touch” administration with the management remaining on board. This approach accords with ideas being floated by City insolvency lawyers who have proposed using the administration regime to mothball companies during the crisis and reviving them when economic conditions improve. Luke [...]
Oil prices continue fall amid fears production cuts won’t go far enough April 6, 2020 Oil prices have continued to fall this afternoon amid fears that proposed cuts to production will not go far enough to stabilise prices, which have been in freefall due to the coronavirus pandemic. Benchmark Brent crude fell over five per cent to stand at $32.3, while West Texas Intermediate shed seven per cent to hit [...]
Coronavirus and the economy: your questions answered April 6, 2020 Chief Economist & Strategist Keith Wade chatted to us about coronavirus and its economic impact. Here are your nine questions answered. Q1: How do you think that the virus will affect the global economy? It is going to have a very significant impact. The virus could create a fall in GDP unlike anything that we [...]
Ocean Outdoor launches £10m media fund for virus-hit firms April 6, 2020 Advertising group Ocean Outdoor has launched a £10m fund offering free ad space to the retailers and small businesses hardest hit by the coronavirus crisis. The fund will give businesses and brands access to advertising space on the company’s network of screens in 12 UK cities. Ocean’s out-of-home sites in London include Piccadilly Lights and [...]
Facebook classified ads under scrutiny amid EU competition probe April 6, 2020 EU regulators have turned their attention to Facebook’s classified advertising business as part of an ongoing competition probe into the tech giant. The next stage of the antitrust investigation will examine whether the social media platform is distorting the classified ads market by promoting its free Marketplace service to users. Regulators have sent a 14-page [...]
Debenhams calls in administrators to avoid legal claims April 6, 2020 Debenhams has filed a notice of intention to appoint administrators in a bid to avoid legal action from creditors amid the coronavirus pandemic. The embattled department store chain said it has hired FRP Advisory as it prepares to enter a “light touch” administration, which will be the second time it has appointed administrators in less [...]
US stocks jump as investors cheer apparent coronavirus slowdown April 6, 2020 US stocks have surged in early trading as investors are encouraged by an apparent slowdown in the spread of coronavirus. The S&P 500 jumped 4.9 per cent while the Dow Jones was up 5.2 per cent. The Nasdaq climbed 4.8 per cent. Stocks were higher in Europe too. The UK’s FTSE 100 was up 2.8 [...]
Coronavirus: The City is doing its part April 6, 2020 Two weeks of staying at home has taken its toll on all of us whether we know it or not. Yes, we may have all got used to living life through the lens of technology, but video conferencing can only partly make up for the activities and day-to-day interactions we all crave and take for [...]
