Coronavirus: The Gym Group and Hollywood Bowl latest to tap investors for cash April 17, 2020 UK businesses are racing to raise equity and shore up their finances during the coronavirus crisis, with The Gym Group and Hollywood Bowl among the latest firms to tap investors for cash. According to research by Peel Hunt, there have been 32 equity raises of at least £5m in the UK since the middle of [...]
Exclusive: Lloyds staff facing redundancy fear being left jobless by bank amid pandemic April 17, 2020 Staff at Lloyds Banking Group who are being made redundant fear the bank will leave them jobless amid the savage economic downturn triggered by the coronavirus pandemic. The bank publicly committed last month to pause plans to cut 780 jobs amid surging customer demand and the economic uncertainty leavers would face. However, it has not [...]
UK coronavirus hospital deaths rise by 847 to 14,576 April 17, 2020 The UK’s coronavirus hospital death toll rose by 847 yesterday, meaning 14,576 people have now died in Britain’s hospitals from the virus. The number is slightly lower than the daily rise of 861 reported for the day ending Wednesday. The previous daily rise had been 761. Britain recorded its highest daily death toll on April [...]
Ex-EY partner wins $11m gold smuggling cover-up case against firm April 17, 2020 An ex-EY partner today triumphed in an $11m (£8.8m) claim against the Big Four firm which he accused of conniving in the cover up of gold smuggling and money laundering. Ex-EY partner Amjad Rihan sued EY after he said he was forced to flee Dubai after alleging the firm helped cover up the smuggling of [...]
CMA provisionally clears Amazon’s £442m Deliveroo investment over coronavirus April 17, 2020 A UK watchdog today provisionally cleared Amazon’s massive £442m investment into Deliveroo due to the risk the food delivery firm faces from coronavirus. The Competition and Markets Authority (CMA) called the situation “wholly unprecedented” but said the cash was “realistically only available from Amazon”. Deliveroo has seen a significant decline in revenues from the UK [...]
CBI says firms need clarity on job retention scheme timeline April 17, 2020 The head of the CBI has cautioned that employers could end up sacking workers unless the government’s scheme to pay furloughed workers’ wages amid the coronavirus pandemic is extended. Carolyn Fairbairn said the job retention scheme, under which the government will pay 80 per cent of the wages of workers who would otherwise be sacked, [...]
Kurt Geiger: Customers will remember retailers’ coronavirus response April 17, 2020 Businesses that protect employees and support the NHS during the coronavirus pandemic will be rewarded by customers when the crisis is over, according to Kurt Geiger’s chief executive. “Customers will remember who has done the right thing, and who maybe hasn’t, and we want to be on the right side of that when we come [...]
Netflix’s value hits record $196bn in coronavirus lockdown April 17, 2020 Netflix has become a more valuable company than both US oil giant Exxo Mobil and rival Disney as demand for home entertainment booms amid the coronavirus lockdown. Shares in the streaming company climbed five per cent on Thursday to a new record high of $448, taking its market value to $196bn. At the same time, [...]
Coronavirus: £7bn wiped off Brewin Dolphin funds April 17, 2020 Wealth management firm Brewin Dolphin took a £7.1bn hit on the funds it manages in its latest quarter due to the coronavirus pandemic. Brewin Dolphin’s total funds decreased by 14.6 per cent to £41.4bn in the second quarter, down from £48.5bn, with discretionary funds down 14.6 per cent to £35.7bn from £41.8bn. The MSCI WMA [...]
US oil price tumbles as coronavirus gloom returns to energy market April 17, 2020 US oil prices have tumbled as doubts set in about the country’s plan to reopen its economy and investors question whether cuts to supply will be enough to meet the plunge in demand caused by the coronavirus pandemic. West Texas Intermediate crude oil – the benchmark for the US market – had fallen 8.2 per [...]
