Eurozone output and employment suffer record falls in April April 23, 2020 The Eurozone economy suffered the biggest falls in employment and activity on record in April as governments across the continent all but shut down their countries in response to the spread of coronavirus. The IHS Markit composite purchasing managers’ index (PMI) – a closely watched gauge of activity – collapsed to 13.5, the lowest score [...]
Credit Suisse posts surge in profit but warns on coronavirus loss April 23, 2020 Credit Suisse today posted a sharp rise in profit for the first quarter but warned of potential loan losses caused by the coronavirus crisis. The bank reported a 13 per cent rise in pre-tax profit of 1.2bn Swiss francs (£1bn) in the first three months of the year, while net profit surged 75 per cent [...]
Renault sees revenue drop a fifth due to coronavirus April 23, 2020 French car giant Renault saw its revenue drop nearly a fifth in the first quarter, warning that it was still to early to say what the overall impact of the coronavirus crisis would be. Revenue at the group fell 19.2 per cent to reach €10.1bn (£8.9bn) as car sales slumped due to the pandemic, which [...]
Non-Standard Finance bolsters finances by focusing on debt collection April 23, 2020 Non-Standard Finance is focusing on its collection activity after cutting lending across its divisions during the coronavirus pandemic. In a statement today, Non-Standard Finance said it would delay full-year results because of coronavirus. It maintained its collections performance had been robust despite the circumstances. Last month the firm cut lending across its divisions to mitigate [...]
Unilever withdraws outlook after coronavirus hits sales April 23, 2020 Unilever has withdrawn its outlook for the year after reporting sales were flat in the first quarter, despite an increase in demand for hygiene and in-home food products. Underlying sales growth was flat with 0.2 per cent from volume and negative 0.2 per cent from price. Turnover increased 0.2 per cent to €12.4bn. The coronavirus [...]
CMA clears £6.2bn Just Eat Takeaway merger April 23, 2020 Just Eat and Takeaway.com received the green light to complete their £6.2bn merger today. UK watchdog t he Competition and Markets Authority (CMA) found the tie-up would not lessen competition in the food delivery space. The CMA said it was “satsified there are no competition concerns”. Takeaway.com fought off a rival bid from Dutch rival [...]
The City View podcast from City A.M., with Dr Alan Mendoza April 23, 2020 The City View Podcast – Listen Now Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian talks to foreign-policy specialist Dr Alan Mendoza about China’s handling of the coronavirus pandemic, amid suggestions that Chinese authorities should be held to account for the global damage caused by the outbreak. [...]
Mass coronavirus testing study launched to determine immunity levels April 23, 2020 Around 20,000 households in England will take part in the first stage of a coronavirus testing study to determine the spread of Covid-19 and the level of immunity in the general population, the government has announced. The study, which will test up to 300,000 people overall over 12 months, will include antibody testing of around [...]
Ryanair will not resume flights if middle seat must be left empty, says Michael O’Leary April 22, 2020 Ryanair will not resume flights if it is forced to leave the middle seats empty in order to comply with social distancing rules, the budget airline’s chief executive Michael O’Leary said. O’Leary reportedly said he believed the company will about 40 per cent of its flights at a capacity of 50 to 60 per cent [...]
