Coronavirus: Superdry suspends dividend and delays full-year results May 7, 2020 Superdry suspended its dividend and delayed its full-year results this morning as the retailer announced a dive in revenue due to the impact of coronavirus and the brand’s shift away from discounting. The clothing brand said its full-year results, which were due to be published on 9 July, will be postponed by five to eight [...]
British Airways owner IAG targets ‘meaningful return’ to flying in July May 7, 2020 British Airways owner IAG has announced that it is targeting a “meaningful return” to operating flights in July, but warned passenger numbers across the whole year could fall by 50 per cent. The airline warned that it did not expect to see a return to pre-coronavirus passenger numbers until 2023, meaning further restructuring would be [...]
BT scraps dividend as Covid-19 and full-fibre rollout hit profit May 7, 2020 BT today scrapped its dividend as the coronavirus crisis and full-fibre broadband costs weighed on profit. The telecoms giant said it had taken the “exceptionally difficult” decision to suspend the payout until 2022, when it will be reduced 50 per cent to 7.7p per share. It came as BT posted a two per cent dip [...]
The City View podcast, from City A.M., with Andy Clarke, former CEO of Asda May 7, 2020 In this episode Christian is joined by Asda’s former CEO, Andy Clarke, now chairman of AI-powered retail system Spoon Guru. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Andy reflects on the way in which the supermarket and grocery sector responded in the early stages of the pandemic, with panic [...]
Coronavirus: Britain must make remittances easier – for everybody’s sake May 7, 2020 Coronavirus is a multitude of crises, at home and overseas. Here in the UK it’s been nothing short of remarkable how the machinery of government has dealt with the COVID-19. There is incredible pressure on our NHS and care sector. With the help of the British people respecting the lockdown, it has stood firm. Our [...]
UK lockdown: Shoppers spend more on booze, beauty and crafts May 7, 2020 Brits have been splashing out on tequila, crafts and their beauty and exercise regimes during the UK lockdown, according to the latest data on consumer spending. The data from John Lewis showed that sales of skincare products jumped 183 per cent and facial masks are hair treatments soared 187 per cent during the UK coronavirus [...]
Goldman Sachs in talks to buy Invesco holdings May 6, 2020 Goldman Sachs is reportedly in talks to buy a large portfolio of company stakes being sold by Invesco. A unit of Goldman Sachs Asset Management is closing in on a deal to acquire the positions, according to Sky News reports, which could be closed within weeks. Invesco had applied a 60 per cent reduction to [...]
Government misses testing target for fourth consecutive day May 6, 2020 The government has missed its target for coronavirus testing for the fourth day in the row, after just 69,463 tests were carried out yesterday. In the Downing Street daily briefing, communities secretary Robert Jenrick confirmed 69,463 tests had been carried out in the past day. More than 30,000 people have died from coronavirus in the [...]
Aviation chiefs plead for more help from government amid coronavirus chaos May 6, 2020 Representatives of the UK’s airports and airlines have said that the government must do more to support the aviation sector, warning that it “does not understand the strategic role the industry plays in the economy”. Speaking to the transport select committee, Tim Aldersdale, the chief executive of Airlines UK, said that there were “lots of [...]
Business travel will still matter in a post-pandemic world May 6, 2020 The outcome of the Government’s review of lockdown this week may provide a glimpse of the steps necessary for economic recovery. Yet, the business community is fully aware that recovery will be a gradual process. There will be no magic panacea. Recovery requires long and careful planning and for many industries to work closely together. [...]
