ECB ditches rules limiting €750bn coronavirus bond purchases March 26, 2020 The European Central Bank (ECB) has scrapped nearly all limits to its bond-buying programme, significantly widening the scope of the €750bn (£700bn) of asset purchases it announced last week. The Eurozone’s central bank has previously followed self-imposed rules that say it cannot buy more than a third of a country’s sovereign debt. The Bank was [...]
NHS gets 560,000 volunteers to help fight coronavirus March 26, 2020 Health secretary Matt Hancock has said 560,000 people have volunteered to help the National Health Service as it struggles to cope with the coronavirus pandemic. The figure is more than double the number Hancock initially asked for on Tuesday. The health secretary said it is “fantastic” that so many people had “responded to our call [...]
Non-Standard Finance cuts lending amid coronavirus outbreak March 26, 2020 Non-Standard Finance is cutting lending across its divisions in a bid to mitigate the effects of the coronavirus outbreak on its financial performance. The sub-prime lender said it is reducing lending volumes across all three of its divisions to shift resources to managing collections. The group said it would continue to offer credit, subject to [...]
Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
Coronavirus: FTSE 100 falls ahead of US unemployment figures March 26, 2020 The FTSE 100 has fallen in early trading after two consecutive days of gains as investors await what is set to be dire US jobs data and an interest rate decision by the Bank of England. Britain’s main stock index was down 2.8 per cent at 5,530 points. It had climbed five per cent yesterday [...]
BoE and Treasury to resume coordinated response to prevent coronavirus slump March 26, 2020 The Bank of England (BoE) and Treasury will resume their coordinated drive to prevent the coronavirus-related economic shutdown from triggering a deep recession. The BoE, which has already made two emergency cuts to interest rates this month, is reportedly likely to hold off on further action when it makes a statement at noon after its [...]
Goodwill hunting: accountants in the spotlight March 26, 2020 Goodwill in accounting – an intangible asset that is recorded when a buyer acquires a business – has risen up the political agenda on both sides of the Atlantic. In the UK we have seen pressure applied to the London-headquartered International Accounting Standards Board (IASB) in the wake of high-profile failures such as Carillion, the [...]
Daily Mail owner DMGT predicts coronavirus financial hit as circulation falls March 26, 2020 Daily Mail owner DMGT has warned the coronavirus outbreak will adversely affect business as circulation fell in 2020. The media group said coronavirus has led to limited impact on performance to date. But DMGT has started to see the effects in its events and exhibitions and consumer media businesses. DMGT said financial performance for the [...]
Lloyd’s swings back to profit, but says coronavirus impact ‘uncertain’ March 26, 2020 Lloyd’s of London said today it is in a “strong” position to support people amid the coronavirus outbreak, as it swung back into profit for 2019. Lloyd’s swung from a £1bn loss in 2018 to a pre-tax profit of £2.5bn last year, it revealed today. But chief executive John Neal said the insurer’s “primary focus” [...]
Stocks on course for sell-off despite $2 trillion US Covid-19 relief scheme March 26, 2020 Global stocks are on course for a fresh sell-off, wiping out gains made in the past two days, despite a $2 trillion (£1.7 trillion) coronavirus relief scheme passing the US Senate. The US Senate unanimously passed a $2 trillion disaster aid bill, the largest economic stimulus in American history. Stock markets rallied on Tuesday and [...]
