UK agrees measures to protect households’ energy supply March 19, 2020 The government and energy companies have agreed emergency measures to safeguard vulnerable households through the Covid-19 pandemic. From today, customers with pre-payment meters who cannot add credit will be able to contact their supplier to agree other options to keep their power on. These could include being sent pre-topped up cards, nominating a third party [...]
Huge ECB stimulus programme pushes down Eurozone bond yields March 19, 2020 Bond yields have fallen across the Eurozone as investors and governments breathe a sigh of relief following the European Central Bank’s (ECB) decision to buy €750bn (£709bn) of assets in a huge programme to counter the economic effects of coronavirus. The yield is the amount the investor receives from a bond – government debt – [...]
Coronavirus: Joules scraps dividend as sales fall March 19, 2020 High street retailer Joules has cancelled its dividend payment in a bid to save cash as sales plunge due to coronavirus. Joules said the decision to scrap its proposed interim dividend will save the firm £700,000 as it attempts to “manage the near term challenges” caused by the outbreak. The brand has suffered a decline [...]
COVID-19: A framework for business response March 19, 2020 COVID-19 is fundamentally affecting companies’ ability to operate and plan. The sheer extent of government and central bank support unveiled in the last few days underlines the unique combination of challenges created by this crisis and the degree to which this will impact every part of our lives. Outlined below is a summary of the [...]
Onesavings Bank shares plunge as lender declines to give guidance over coronavirus March 19, 2020 Shares in Onesavings Bank plummeted after the specialist lender declined to issue full-year guidance over coronavirus-related uncertainty. The lender’s stock plunged as much as 26 per cent in morning trading, its biggest intraday fall since 2016, despite it posting a strong set of results. Statutory profit before tax increased 14 per cent for the year [...]
Coronavirus: National Express slashes costs as passenger numbers slide March 19, 2020 National Express will cut costs and stop all acquisition and capital expenditure programmes as coronavirus travel restrictions severely hurt passenger numbers. Among other measures, executives across the group will take a pay deferral for the duration of the coronavirus outbreak. National Express is particularly exposed to the recent travel restrictions imposed in Spain and Morocco. [...]
IG’s revenue jumps 29 per cent as market volatility peaks March 19, 2020 Trading platform IG’s revenue in the third quarter jumped 29 per cent as market volatility, brought on by the outbreak of coronavirus, increased trading. The figures IG’s revenue in the third quarter was 29 per cent higher than in the same period last year, at £139.8m. The trading platform served 101,700 OTC leveraged active clients [...]
Next warns of coronavirus blow to online and high street sales March 19, 2020 High street titan Next has warned coronavirus will produce a “very significant” sales blow in the coming year as travel restrictions dramatically damage the retail sector. Next, considered an economic bellwether, said it is now preparing for a “significant downturn” in 2020. “When the pandemic first appeared in China, we assumed that the threat was [...]
Crest Nicholson cancels dividend and guidance on coronavirus concerns March 19, 2020 Housebuilder Crest Nicholson has cancelled payment of its final dividend and withdrawn its full-year financial guidance due to the coronavirus pandemic. The company also said it would draw down all of a £250m credit facility to help cope with the hit to its business from Covid-19 related shutdowns. Crest Nicholson said it would have £185m [...]
Burberry sales down 50 per cent as coronavirus spreads globally March 19, 2020 Luxury British brand Burberry this morning warned that sales have halved as coronavirus has decimated consumer demand. Sales have dropped between 40 per cent to 50 per cent since 24 January, as the outbreak has spread across the world, forcing Burberry to close around 40 per cent of its stores globally. In Europe, the Middle [...]
