British Gas owner Centrica kills dividend and delays Spirit Energy sale April 2, 2020 British Gas owner Centrica has abandoned 2020 guidance as it cancelled its 2019 dividend today and warned it would take at least a £100m hit from coronavirus. Centrica’s shares dived 7.3 per cent to a record low in early trading as it warned the fallout of an oil price war and the coronavirus lockdown would [...]
Oil prices jump as Donald Trump hints at imminent Russia-Saudi Arabia deal April 2, 2020 Global oil prices climbed off the floor of 18-year lows this morning after US president Donald Trump said he expected Saudi Arabia and Russia to reach an agreement soon to put an end to their price war. The combination of a production war and a slump in global demand due to widespread lockdowns caused by [...]
M&C Saatchi scraps dividend and cuts salaries due to coronavirus April 2, 2020 M&C Saatchi today said it has scrapped its 2019 dividend and cut salaries for senior staff members as the advertising agency battles a downturn sparked by coronavirus. The firm said a “very high proportion” of its top paid staff would take pay cuts, with board members and senior management committing to a 20 per cent [...]
Coronavirus: Hays shares slide after £200m issuance announcement April 2, 2020 Shares in global recruitment firm Hays have tumbled after it announced it will issue £200m of shares in an emergency move to help it shore up its balance sheet during the coronavirus pandemic. Hays said in a trading update this morning that “Covid-19 has driven a very material deceleration in client and candidate activity”. It [...]
Coronavirus: Could the crisis accelerate the need for ESG communications? April 2, 2020 As Britain digests daily press conferences about Covid-19, the words and actions of business leaders are starting to come under increased scrutiny. As small businesses across the country seek banking loans to stay afloat and employees face being furloughed or even made redundant – what leaders do today and how they communicate will have a [...]
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), [...]
