The impact of coronavirus on dividends April 2, 2020 As UK banks temporarily suspend all dividend payments, we discuss the effect coronavirus could have on a vital source of income for investors. What’s happening to dividends? The coronavirus crisis and oil price war are having a profound impact on economic growth and the cash position of companies. Many businesses in the most affected sectors [...]
Coronavirus: Landsec scraps dividend as rent payments fall April 2, 2020 Retail and office space landlord Landsec suffered a drop in rent payments last month due to the outbreak of coronavirus. Landsec, which this morning scrapped its interim dividend, said 65 per cent of the rent due on 25 March had been paid by the end of the month, compared to 96 per cent the previous [...]
Coronavirus: City watchdog proposes credit card payment freeze April 2, 2020 The UK’s financial watchdog has proposed that banks freeze loan and credit card bills and cancel overdraft interest payments for people hit financially by coronavirus. The Financial Conduct Authority (FCA) said it will carry out a “brief consultation” on the plans. If accepted, they will come into force on 9 April. The FCA made a [...]
BCC: UK businesses face cash flow crisis in coronavirus fallout April 2, 2020 Most of Britain’s small businesses have just three months or less of cash reserves as they bid to survive the UK coronavirus outbreak, according to a study released today. And firms have already experienced a “sharp and significant” fall in domestic and overseas revenue amid a global coronavirus lockdown. The British Chambers of Commerce (BCC), [...]
Coronavirus: Pets at Home to beat profit expectations after surge in demand April 2, 2020 Pets at Home announced it expected full-year profit to beat previous expectations following an “exceptional” level of demand due to the coronavirus outbreak. The pet store, which has been classified as an essential retailer and is allowed to stay open during the government mandated lockdown – said in-store and online sales had increased as existing [...]
Coronavirus: British Airways to suspend 36,000 workers April 2, 2020 British Airways is preparing to suspend 36,000 employees after it was forced to ground flights due to coronavirus. The airline is close to reaching a deal with union Unite after negotiating for more than a week, however some details still need to be agreed upon, the BBC reported. Up to 80 per cent of the [...]
Boris Johnson: Testing is key to unlocking UK coronavirus ‘puzzle’ April 2, 2020 Prime Minister Boris Johnson has said a big increase in testing is the way to “unlock the puzzle” of the UK coronavirus outbreak. The Prime Minister admitted the government must “massively ramp up” testing after it emerged just 2,000 frontline NHS workers have been tested for coronavirus. A rapid increase in NHS testing was necessary [...]
Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Asian stocks slip as coronavirus recession comes back into focus April 2, 2020 Asian stocks were choppy overnight, with many following their US counterparts downwards as investors came to terms with prolonged coronavirus lockdowns in some of the world’s biggest economies. Japan’s Nikkei 225 index dropped 1.4 per cent, Australia’s S&P ASX fell two per cent and Singapore’s STI fell 0.4 per cent. Yet China’s Shanghai index rose [...]
Treasury set to overhaul coronavirus loan scheme to avoid insolvencies April 1, 2020 The chancellor Rishi Sunak is reportedly set to overhaul the government’s emergency coronavirus loan scheme over concerns that small and medium sized businesses may go bust before they can access the funds. Sky News reported Sunak is set to announce that the requirement for banks to assess whether companies are eligible for other funding products [...]
