Arrow Global shares jump despite scrapping dividend April 6, 2020 Debt purchasing group Arrow Global’s shares shot up almost 11 per cent today as it said it is well placed to survive the tumult of the coronavirus outbreak, despite cancelling its dividend. Arrow Global said it will not pay a final dividend of 8.7p for its 2019 financial year in order to shore up cash [...]
Eurozone construction activity falls at fastest rate for more than a decade April 6, 2020 Construction activity in the Eurozone contracted sharply in March as measures to contain the coronavirus outbreak hit activity and demand. The IHS Markit Eurozone construction PMI plunged from 52.5 in February to 33.5 in March, the steepest decline in construction activity since February 2009 during the financial crisis. The downturn in total activity was broad-based [...]
Coronavirus: The Restaurant Group boss to take 40 per cent pay cut April 6, 2020 The boss of Wagamama owner The Restaurant Group will take a 40 per cent pay cut as the casual dining company battles the financial impact of coronavirus. Chief executive officer Andy Hornby, who joined the company in August last year, will also forego his bonus of £98,000. The Restaurant Group finance chief Kirk Davis has [...]
Sage cancels £250m share buyback and scraps guidance April 6, 2020 Software company Sage Group today said it was cancelling a £250m share buyback and withdrawing its financial guidance after coronavirus hit its revenue, The company said it thinks organic recurring revenue growth will be below its guided range of eight-to-nine per cent and decline in other revenues will “accelerate significantly” in the second half, with [...]
Gresham House Strategic retains commitment to raising dividend April 6, 2020 Gresham House Strategic will raise its dividend as its board and manager insist the firm is “well-positioned” during the coronavirus crisis. In a statement, Gresham House Strategic’s board and manager say they “retain confidence” in the strategy and will retain their commitment to raising the dividend 15 per cent. The investment company said it had [...]
Coronavirus: What Olympians can teach us about working from home (seriously) April 6, 2020 After spending four years laser-focused on a single goal, last week world class athletes woke up to the news that the Olympic Games has been postponed as a result of the COVID-19 pandemic. Athletes will now have to keep up the momentum until June 2021 which will no doubt take some readjusting and a fresh [...]
Coronavirus: Retail funds might surprise the doomsayers April 6, 2020 A month ago, it would have been near impossible to predict the speed with which markets returns would fall as investors reacted to a spate of lockdowns across Europe and the US. As more and more countries are caught in the grip of the COVID-19 pandemic, economic output in a number of sectors has effectively [...]
Coronavirus: Stobart Group furloughs half its staff and withdraws guidance April 6, 2020 Stobart Group will furlough 50 per cent of its staff as part of a range of measures implemented to protect the firm against the coronavirus pandemic, the industrial conglomerate announced this morning. In addition to putting roughly 750 employees on the government’s job retention scheme, the firm, which owns businesses such as London Southend Airport, [...]
Mirror publisher Reach cuts wages and furloughs a fifth of its staff April 6, 2020 Dairy Mirror publisher Reach has today announced its employees will take a pay cut during the coronavirus crisis, as it continues to operate all of its regional and national titles. The publisher said some members of the senior editorial and management team will take a 20 per cent cut as part of cost-cutting measures. Other [...]
