Growing European Coronavirus fears April 3, 2020 Sterling and the Euro – a story of two halves. The pound had another resilient week, strengthening by an average of 1.9% against the other major currencies. This is despite the downgrade of Britain’s credit rating by Fitch. The pound’s strength can be attributed to the US Federal Reserve announcing billions of liquidity to stabilise [...]
Investors seek greater clarity from boards amid coronavirus outbreak April 3, 2020 Investors are calling for greater clarity from boards as the coronavirus crisis wreaks havoc on the markets and upends financial guidance and AGMs. Investors are expecting more communication, whether through public disclosures or direct contact with management, to weather the storm over the next few months. Some investors have highlighted the lack of communication coming [...]
Oil prices surge but global stocks drop over coronavirus fears April 3, 2020 Global stocks have slipped lower even as oil prices have rebounded, as investors focus on the economic fallout from coronavirus. Oil prices have jumped after US President Donald Trump yesterday announced Saudi Arabia and Russia would cut production. Brent crude rose 10.8 per cent to $33.18 per barrel. US crude rose 4.4 per cent to [...]
Ladbrokes and Coral withhold rent payments to landlords April 3, 2020 Ladbrokes and Coral have refused to pay rent on more than 3,000 shops, dealing a fresh blow to high street landlords who have been hit hard by the coronavirus lockdown. The two bookmakers, which are owned by GVC Holdings, withheld rent payments last week, according to Sky News. The firm insisted it would make up [...]
Coronavirus: US services sector slows but data hides real slump April 3, 2020 US service sector activity slowed to a three-and-a-half-year low in March, survey data has shown, although economists believe the real picture is much worse as coronavirus spreads rapidly through the country. The ISM non-manufacturing purchasing managers’ index (PMI) fell to 52.5 in March from 57.3 in February. A score above 50 indicates expansion. Analysts had [...]
Shareholders may push Debenhams into administration April 3, 2020 Debenhams is set to plunge into administration as shareholders attempt to keep the historic retailer out of creditors’ hands during the coronavirus outbreak, it is reported. Debenhams is poised to announce its intention to appoint administrators next week, with KPMG in the running, Sky News reported today. Investors could push for the move to prevent [...]
UK coronavirus death toll jumps 684 to 3,605 April 3, 2020 The UK’s coronavirus death toll jumped 684 today to 3,605, the Department of Health said. As of 9am today, a total of 173,784 people have been tested of which 38,168 tested positive, the department said. As of 5pm yesterday, 3,605 of those hospitalised who tested positive in the UK for coronavirus have died, the biggest [...]
US unemployment surges as coronavirus lockdown takes toll April 3, 2020 US unemployment surged in March as coronavirus sent the economy into a tailspin, official data has shown. US employers laid off 701,000 workers in March after hiring 275,000 in February, the Labor Department (DoL) said. Analysts had been expected a fall of 100,000. The figures represent an abrupt end to the US labour market’s winning [...]
BAE predicts ‘significant disruptions’ from Covid-19 April 3, 2020 Defence firm BAE Systems today said it expects “significant disruptions” due to coronavirus as it moves into the second quarter of the financial year. It comes after an opening three months where the Covid-19 pandemic had a minimal impact on the London-listed company. The firm today said it was assessing the situation and would update [...]
Coronavirus: Boris Johnson to stay in self-isolation with high temperature April 3, 2020 Prime Minister Boris Johnson has said he will remain in self-isolation after continuing to exhibit coronavirus symptoms first diagnosed last week. “Although I feel better and I’ve done my seven days of self-isolation, alas I still have one of the symptoms, a minor symptom. I still have a temperature,” Johnson said in a Twitter video. [...]
