Paddy Power-owner Flutter says revenue resilient despite sport shutdown April 17, 2020 Paddy Power Betfair’s parent company Flutter today said its revenue had not been hit as hard as expected by the shutdown in sport across the world because of coronavirus. In its results for the first quarter the gambling group said continued horse racing in Australia and the US meant that revenue decline had not been [...]
Foxtons targets £22m equity raise amid London house prices blow April 17, 2020 Foxtons estate agent has proposed a major £22m share sale representing about 20 per cent of issued stock as it furloughs staff. The £22m equity raise will allow Foxtons to repay its revolving credit facility and to boost its liquidity in the face of the coronavirus shutdown. The share sale would bolster its cash balance [...]
China’s economy shrinks for first time in decades on coronavirus hit April 17, 2020 China’s economy shrank for the first time in nearly three decades of records in the first quarter as the coronavirus pandemic hit spending and production. Gross domestic product (GDP) fell 6.8 per cent in the quarter ended March compared to the same period the previous year, official data showed today, slightly larger than the 6.5 [...]
Coronavirus: EU vows to protect weakened firms from foreign takeovers April 17, 2020 The EU is set to protect its companies against foreign takeovers from firms taking advantage of the economic fallout from coronavirus. The bloc plans to allow governments to take large stakes in weak European companies, even owning them in some cases. The European Commission has decided to step in due to the unprecedented impact of [...]
Compassionate capitalism can underpin our coronavirus recovery April 17, 2020 This Covid-19 coronavirus crisis could all be over by autumn. Or by this time next year. We simply do not know. What we do know, however, is that we will need to think carefully and radically about how this country is going to recover from the devastation left behind by the coronavirus pandemic. This pandemic [...]
The City View, from City A.M., with Neil Clifford – CEO of Kurt Geiger April 17, 2020 In this episode of The City View, Christian is joined by Kurt Geiger CEO, Neil Clifford. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS The veteran retailer discusses the unprecedented disruption and uncertainty caused by the pandemic, in a candid and illuminating conversation. Clifford describes how 2020 was due to be a [...]
FTSE 100 jumps on hopes of coronavirus drug breakthrough April 17, 2020 The FTSE 100 surged today despite dire Chinese economic data as investors are cheered by hopes of a medical breakthrough and signs that the US is on its way to reopening parts of its economy. Britain’s FTSE 100 index finished 2.8 per cent higher at 5,786 points. It had climbed as much as 3.4 per [...]
Coronavirus: UK pubs and restaurants suffer 60 per cent sales dive in March April 17, 2020 The UK’s pubs, restaurants and bars suffered an almost 60 per cent drop in sales last month as a lockdown was implemented to slow the spread of coronavirus. Managed pubs reported a 57.8 per cent sales drop, restaurant sales plunged 56.2 per cent and bars suffered a 60 per cent dive in sales. London was [...]
Demand for IT workers soars during coronavirus lockdown April 17, 2020 The number of advertised jobs in the IT and logistics sectors soared last month as businesses adapt to the coronavirus lockdown, new data has revealed. The logistics sector saw the biggest increase in available roles in March while demand for staff in IT and tech remained strong, according to figures from Totaljobs and the British [...]
Rishi Sunak expands coronavirus loan scheme to include all UK businesses April 16, 2020 The government has expanded its £330bn coronavirus loan scheme to cover all financially viable UK businesses regardless of size. The Coronavirus Large Business Interruption Loans Scheme (CLBILS) will allow companies with a turnover of more than £45 million to apply for up to £25 million of finance. Firms with a turnover of more than £250 [...]
