M&C Saatchi scraps dividend and cuts salaries due to coronavirus April 2, 2020 M&C Saatchi today said it has scrapped its 2019 dividend and cut salaries for senior staff members as the advertising agency battles a downturn sparked by coronavirus. The firm said a “very high proportion” of its top paid staff would take pay cuts, with board members and senior management committing to a 20 per cent [...]
Coronavirus: Hays shares slide after £200m issuance announcement April 2, 2020 Shares in global recruitment firm Hays have tumbled after it announced it will issue £200m of shares in an emergency move to help it shore up its balance sheet during the coronavirus pandemic. Hays said in a trading update this morning that “Covid-19 has driven a very material deceleration in client and candidate activity”. It [...]
Coronavirus: Could the crisis accelerate the need for ESG communications? April 2, 2020 As Britain digests daily press conferences about Covid-19, the words and actions of business leaders are starting to come under increased scrutiny. As small businesses across the country seek banking loans to stay afloat and employees face being furloughed or even made redundant – what leaders do today and how they communicate will have a [...]
The impact of coronavirus on dividends April 2, 2020 As UK banks temporarily suspend all dividend payments, we discuss the effect coronavirus could have on a vital source of income for investors. What’s happening to dividends? The coronavirus crisis and oil price war are having a profound impact on economic growth and the cash position of companies. Many businesses in the most affected sectors [...]
Coronavirus: Landsec scraps dividend as rent payments fall April 2, 2020 Retail and office space landlord Landsec suffered a drop in rent payments last month due to the outbreak of coronavirus. Landsec, which this morning scrapped its interim dividend, said 65 per cent of the rent due on 25 March had been paid by the end of the month, compared to 96 per cent the previous [...]
Coronavirus: City watchdog proposes credit card payment freeze April 2, 2020 The UK’s financial watchdog has proposed that banks freeze loan and credit card bills and cancel overdraft interest payments for people hit financially by coronavirus. The Financial Conduct Authority (FCA) said it will carry out a “brief consultation” on the plans. If accepted, they will come into force on 9 April. The FCA made a [...]
BCC: UK businesses face cash flow crisis in coronavirus fallout April 2, 2020 Most of Britain’s small businesses have just three months or less of cash reserves as they bid to survive the UK coronavirus outbreak, according to a study released today. And firms have already experienced a “sharp and significant” fall in domestic and overseas revenue amid a global coronavirus lockdown. The British Chambers of Commerce (BCC), [...]
Coronavirus: Pets at Home to beat profit expectations after surge in demand April 2, 2020 Pets at Home announced it expected full-year profit to beat previous expectations following an “exceptional” level of demand due to the coronavirus outbreak. The pet store, which has been classified as an essential retailer and is allowed to stay open during the government mandated lockdown – said in-store and online sales had increased as existing [...]
Coronavirus: British Airways to suspend 36,000 workers April 2, 2020 British Airways is preparing to suspend 36,000 employees after it was forced to ground flights due to coronavirus. The airline is close to reaching a deal with union Unite after negotiating for more than a week, however some details still need to be agreed upon, the BBC reported. Up to 80 per cent of the [...]
Boris Johnson: Testing is key to unlocking UK coronavirus ‘puzzle’ April 2, 2020 Prime Minister Boris Johnson has said a big increase in testing is the way to “unlock the puzzle” of the UK coronavirus outbreak. The Prime Minister admitted the government must “massively ramp up” testing after it emerged just 2,000 frontline NHS workers have been tested for coronavirus. A rapid increase in NHS testing was necessary [...]
