Italy set to extend coronavirus lockdown measures into May March 31, 2020 Italy is considering an extension of containment measures into May even as the coronavirus outbreak shows signs of slowing. Prime Minister Giuseppe Conte may extend restrictions through Easter and gradually open the country from 4 May, according to Italian newspaper La Stampa. The lockdown, which is now in its fourth week, is currently in place [...]
UK current account deficit narrows ahead of coronavirus slowdown March 31, 2020 The UK’s current account deficit narrowed in the final quarter of 2019, figures showed today, although this was due in large part to movements in gold trade. The deficit is the difference between the value of the goods and services a country imports and the goods and services it exports. Britain imports more goods and [...]
Huawei misses revenue target as US ban and coronavirus weigh March 31, 2020 Huawei has missed its revenue target for the full year as the impact of a US trade ban was compounded by the coronavirus outbreak. The Chinese tech giant posted revenue of 858.8bn yuan (£98bn) in 2019. This marked an increase of more than 19 per cent, but fell short of its target of $135bn (£109bn). [...]
What impact is Covid-19 having on global economies and markets? March 31, 2020 The impact of the new coronavirus (Covid-19) pandemic continues to play out. The extent to which the virus will spread, both between and within countries remains unclear, and the duration and impact are highly uncertain. Sadly, the human impact continues to grow, and the virus has now claimed the lives of over 22,000 people, as [...]
WPP pulls dividend, outlook and share buyback as coronavirus hits ad sales March 31, 2020 WPP has cancelled its dividend and share buyback and suspended its guidance for 2020, as the coronavirus pandemic forces a growing number of the advertising giant’s clients to cancel work. The world’s biggest advertising company has launched a cost-cutting drive in response to the outbreak, identifying £800m of savings that can be made for 2020, [...]
British Airways suspends Gatwick flights over coronavirus March 31, 2020 British Airways has temporarily suspended flights from Gatwick Airport over the worldwide coronavirus crisis. BA has already warned it must slash jobs and ground planes to combat coronavirus travel bans, and today took the step of stopping Gatwick flights. “Due to the considerable restrictions and challenging market environment, like many other airlines, we will temporarily [...]
Imperial Brands and British American Tobacco sign deals for new credit March 31, 2020 Imperial Brands and British American Tobacco (BAT) have announced deals for new credit but say the pandemic has had little material effect on business. Imperial Brands announced a €3.5bn (£3.13bn) multi-currency revolving credit facility (RCF). The credit line has an initial three-year term that could be extended bi-annually. BAT separately said it had priced an [...]
Brits spent an extra £1.9bn in stockpiling spree before coronavirus lockdown March 31, 2020 Brits made over 79 million extra trips to supermarkets in the four weeks leading up to the coronavirus lockdown, as people rushed to stock up on groceries ahead of restrictions being introduced, according to industry data. The stockpiling drove a 20.5 per cent jump in supermarket sales up to 21 March, with customers spending an [...]
Domino’s Pizza hires former Costa boss as new chief executive March 31, 2020 Domino’s Pizza Group has appointed former Costa boss, Dominic Paul, as its new chief executive. Paul led the coffee shop chain from 2016 to 2019 ahead of the £3.9bn sale of the business by Whitbread to Coca-Cola last year. Prior to this, he served as senior vice president of international with Royal Caribbean Cruise Line. [...]
CMA clears Paddy Power owner Flutter’s £10bn gambling merger March 31, 2020 A gambling mega-merger between Paddy Power owner Flutter and Sky Bet owner Stars got the green light today from the UK’s competition watchdog. The Competition and Markets Authority (CMA) cleared Flutter’s £10bn purchase of Stars after opening an investigation into the tie-up at the start of February. The CMA found punters would not receive less [...]
