Formula One’s 2020 outlook downgraded to negative by Moody’s April 2, 2020 The outlook for Formula One has been downgraded by Moody’s to negative in light of the disruption caused by the coronavirus pandemic to its 2020 race calendar. Formula One has cancelled its Australia and Monaco grand prix races and postponed six races scheduled between March and early June 2020. Moody’s said the disruption would lead [...]
Coronavirus: Saga seeks debt holiday and warns cruises could be suspended for six months April 2, 2020 Saga, the cruise operator and insurance provider for over-50’s, said this morning it plans to ask for a debt holiday as it warned that it could be forced to postpone holidays for up to six months. Saga’s share price dropped more than five per cent after it said full year revenue could be down around [...]
Wework threatens to sue Softbank over ditched $3bn share buyout April 2, 2020 Wework has threatened to sue Softbank after the Japanese investment giant abandoned plans to buy $3bn (£2.4bn) worth of additional shares in the company. Softbank, which owns a controlling stake in the coworking firm, agreed to the share tender last year as part of a rescue package following Wework’s botched public listing. The company said [...]
Calls grow for coronavirus loans rethink as almost half of UK firms see revenues sink April 2, 2020 Nearly half of all UK businesses have seen their revenue fall due to the coronavirus pandemic, a new survey has shown, amid calls for government to make it easier for struggling businesses to access loans critical to their survival. Office of National Statistics (ONS) data found 45 per cent of UK businesses saw revenues drop [...]
Coronavirus: National Grid suffers ‘delays and disruptions’ to capital programme April 2, 2020 Shares in National Grid are down almost five per cent this morning, after it said it was experiencing delays and disruption to its capital works programme. The FTSE 100 company said today that it expected its 2019-20 results to be in line with pre-Covid-19 expectations and that the virus would not have a “material impact” [...]
Coronavirus: Hotel Chocolat scraps dividend after £20m share placing April 2, 2020 Hotel Chocolat is the latest company to cancel its dividend in a bid to save cash during the coronavirus crisis. The high street chain said this morning that it has scrapped the proposed interim dividend, which was due to be paid to shareholders on 15 April, after raising an extra £20m through a share placing [...]
Coronavirus: Reports County Championship Cricket season could be cancelled April 2, 2020 Cricket’s entire County Championship season could be cancelled due to the coronavirus outbreak, reports emerged last night. The Daily Telegraph reports that with the start of the already congested season delayed until at least the end of May, priority is being given to international and domestic T-20 cricket as opposed to the longer form of [...]
Bunzl cancels final dividend amid coronavirus slowdown April 2, 2020 UK distribution firm Bunzl has said it will not propose a final dividend for 2019 as it adjusts to a market heavily disrupted by coronavirus, sending its shares lower in morning trading. The firm said “it intends to consider the appropriateness, quantum and timing of an additional interim dividend payment” for 2019 when some clarity [...]
British Gas owner Centrica kills dividend and delays Spirit Energy sale April 2, 2020 British Gas owner Centrica has abandoned 2020 guidance as it cancelled its 2019 dividend today and warned it would take at least a £100m hit from coronavirus. Centrica’s shares dived 7.3 per cent to a record low in early trading as it warned the fallout of an oil price war and the coronavirus lockdown would [...]
Oil prices jump as Donald Trump hints at imminent Russia-Saudi Arabia deal April 2, 2020 Global oil prices climbed off the floor of 18-year lows this morning after US president Donald Trump said he expected Saudi Arabia and Russia to reach an agreement soon to put an end to their price war. The combination of a production war and a slump in global demand due to widespread lockdowns caused by [...]
