Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
Coronavirus: FTSE 100 falls ahead of US unemployment figures March 26, 2020 The FTSE 100 has fallen in early trading after two consecutive days of gains as investors await what is set to be dire US jobs data and an interest rate decision by the Bank of England. Britain’s main stock index was down 2.8 per cent at 5,530 points. It had climbed five per cent yesterday [...]
BoE and Treasury to resume coordinated response to prevent coronavirus slump March 26, 2020 The Bank of England (BoE) and Treasury will resume their coordinated drive to prevent the coronavirus-related economic shutdown from triggering a deep recession. The BoE, which has already made two emergency cuts to interest rates this month, is reportedly likely to hold off on further action when it makes a statement at noon after its [...]
Goodwill hunting: accountants in the spotlight March 26, 2020 Goodwill in accounting – an intangible asset that is recorded when a buyer acquires a business – has risen up the political agenda on both sides of the Atlantic. In the UK we have seen pressure applied to the London-headquartered International Accounting Standards Board (IASB) in the wake of high-profile failures such as Carillion, the [...]
Daily Mail owner DMGT predicts coronavirus financial hit as circulation falls March 26, 2020 Daily Mail owner DMGT has warned the coronavirus outbreak will adversely affect business as circulation fell in 2020. The media group said coronavirus has led to limited impact on performance to date. But DMGT has started to see the effects in its events and exhibitions and consumer media businesses. DMGT said financial performance for the [...]
Lloyd’s swings back to profit, but says coronavirus impact ‘uncertain’ March 26, 2020 Lloyd’s of London said today it is in a “strong” position to support people amid the coronavirus outbreak, as it swung back into profit for 2019. Lloyd’s swung from a £1bn loss in 2018 to a pre-tax profit of £2.5bn last year, it revealed today. But chief executive John Neal said the insurer’s “primary focus” [...]
Stocks on course for sell-off despite $2 trillion US Covid-19 relief scheme March 26, 2020 Global stocks are on course for a fresh sell-off, wiping out gains made in the past two days, despite a $2 trillion (£1.7 trillion) coronavirus relief scheme passing the US Senate. The US Senate unanimously passed a $2 trillion disaster aid bill, the largest economic stimulus in American history. Stock markets rallied on Tuesday and [...]
UK retail sales miss expectations before March’s coronavirus hit March 26, 2020 UK retail sales slumped 0.3 per cent in February to miss expectations of a small rise of 0.2 per cent. And core UK retail sales dropped 0.5 per cent on a monthly basis, deeper than expected in February, despite few businesses seeing the coronavirus-led slowdown that has wrought havoc in March. Excluding fuel, UK retail [...]
London: Two millennia of pestilence and not out March 26, 2020 Anyone with a cursory knowledge of London’s history will not be surprised that our city is the epicentre of Britain’s coronavirus outbreak. Ever since its Roman foundation, London has been a microbial soup, a cauldron of pestilence. Time and again plagues have swept across the capital, threatening to wipe it out. On every occasion, times [...]
City Moves for 27 March – Who’s switching jobs at 11:FS, McCarthy Denning and Meyer Bergman? March 26, 2020 Today’s City Moves includes 11:FS, McCarthy Denning and Meyer Bergman 11:FS Digital financial services firm 11:FS has announced the appointment of Benjamin Ensor as director of research. Benjamin is a highly experienced researcher and analyst, with more than 20 years of experience advising leading financial services firms around the world about changing customer behaviour, changing [...]
