Waiting on a good exchange rate? April 3, 2020 In time of uncertainty, currencies can be even more volatile. With the entire world ramping up efforts to control the Covid-19 pandemic, the toll on people’s lives is tragic and immeasurable, but there is also huge economic uncertainty, having a profound effect on the markets never seen before, causing currency volatility. Market movements Even after [...]
Coronavirus pushes UK services sector to worst month on record April 3, 2020 The UK’s dominant services sector shrank at the fastest pace on record in March, survey data has confirmed, as the coronavirus lockdown ravaged the economy. “The services sector was sucked into a black hole and flung into the unknown,” said Duncan Brock, group director of the Chartered Institute of Procurement and Supply (Cips). The IHS [...]
Fuller’s suspends dividend during closure of pub estate April 3, 2020 Fuller’s has suspended its dividend as part of cost-cutting measures during the closure of its entire pub estate amid the coronavirus lockdown. Like a number of firms exposed to the impact of the coronavirus lockdown, the Fuller’s board has decided to preserve further cash and suspend the final dividend. The pub firm said it had [...]
Coronavirus: Eurozone economy suffers record hit in March April 3, 2020 The Eurozone economy suffered the biggest blow on record in March, survey data has shown, as coronavirus containment efforts all but stopped activity. The IHS Markit purchasing managers’ index (PMI) – a closely watched gauge of the health of the euro area economy – crashed to 29.7 in March from 51.6 in February. A score [...]
Stagecoach furloughs staff as government bails out bus firms April 3, 2020 Stagecoach has furloughed more than half of its regional bus staff after bus sales plunged amid the coronavirus lockdown. With commercial sales at local regional bus companies at around 15 per cent of “normal” levels, Stagecoach has already furloughed around 55 per cent of its bus drivers and engineering staff. Stagecoach’s update came as the [...]
COVID-19: What practical measures can businesses take to keep operating? April 3, 2020 EY’s latest COVID-19 webcast focused on the pressing challenge of business continuity, asking what measures companies can practically take to keep operating in these extraordinary circumstances. Clearly, businesses are dealing with very different and evolving sets of challenges – from companies experiencing massively increased sales, to those battling sudden falls in demand and businesses who [...]
Coronavirus selloff helps CMC Markets double revenue April 3, 2020 Online trading firm CMC Markets said it nearly doubled its annual net trading revenue, bolstered by last month’s coronavirus-induced selloff. In a pre-close trading update, the firm said it expects revenue from its contracts for difference business to be around £241m, up from £110.2m a year earlier. CMC said it had had “strong underlying performance” [...]
Coronavirus: Sainsbury’s to ease stockpiling restrictions on products April 3, 2020 Sainsbury’s will begin removing coronavirus stockpiling restrictions from its supermarket goods from this Sunday, it said today. The supermarket said a combination of more supply and panic buying measures means there is finally more stock on the shelves, prompting it to ease stockpiling measures. Restrictions are no longer in place on Easter eggs. However, buying [...]
FTSE 100 falls as oil prices slip and coronavirus spreads April 3, 2020 The FTSE 100 has fallen at the bell after oil prices slipped and the number of global coronavirus cases topped 1m. Britain’s oil-heavy FTSE 100 index was 1.3 per cent lower just after the open at 5,411 points. The benchmark had risen roughly 0.8 per cent the day before. European markets were also lower. The [...]
