Coronavirus: Cineworld shares crash on debt breach warning March 12, 2020 Cineworld’s shares spiralled today as it warned a worst-case scenario for coronavirus could throw its future into doubt. If a worst-case scenario transpires, Cineworld said it could breach its debt terms as it would be forced to close cinemas for up to three months. Were that to happen, Cineworld would lose up to three months’ [...]
Savills profit jumps after UK post-election bounce March 12, 2020 Property advisor Savills reported a jump in full-year profit as a surge in UK business after the general election helped to offset Brexit uncertainty and disruption in Hong Kong. The figures Group revenue increased ten per cent to £1.93bn driven by a strong performance and profit before tax increase six per cent to £115.6m, compared [...]
Just Group swings to profit as chairman announces resignation March 12, 2020 Insurer Just Group has posted an annual profit for 2019, as the retirement services specialist’s turnaround measures began to take effect. The company also announced this morning that chairman Chris Gibson-Smith will retire from the group as soon as a suitable successor is appointed. The figures Just Group reported profit before tax of £369m for [...]
Betway hit with record £11.6m fine by UK gambling regulator March 12, 2020 Online betting firm Betway has been fined a record £11.6m by the gambling regulator over social responsibility and money-laundering failures linked to its treatment of high-spending customers. The Gambling Commission said that Betway had allowed £5.8m to flow through its business which “has been found, or could reasonably be suspected to be, proceeds of crime”. [...]
WH Smith shares plunge on £40m coronavirus profit warning March 12, 2020 Shares in WH Smith fell more than 15 per cent this morning after the retailer warned that it could take a £40m profit hit due to the coronavirus outbreak. The newsagent chain said it expects profit to be down between £30m to £40m in the financial year ending 31 August against previous expectations, while revenue [...]
Intu raises going concern doubts as losses deepen March 12, 2020 Embattled retail landlord Intu raised doubts over its ability to continue as a going concern this morning as it reported a sharp increase in losses last year amid store closures and rent reductions. The figures Shares plunged 16 per cent this morning as the company reported a £2.02bn loss for the year, compared to a [...]
Lookers COO leaves day after ‘suspected fraud’ warning March 12, 2020 Lookers’ chief operating officer has left the business just a month after taking up the role, the car dealership announced today. Cameron Wade left with immediate effect, the dealer said. Lookers’ shares plunged yesterday after it revealed it has identified “potentially fraudulent transactions”. That has delayed the publication of its 2019 results, and prompted the [...]
Coronavirus: Trump’s EU travel ban rattles Asian and US stocks March 12, 2020 Donald Trump last night issued a ban on travel from Europe to the US in a bid to halt the spread of coronavirus, rattling US and Asian stocks. Trump suspended all travel from Europe, excluding the UK, to the US for 30 days starting tomorrow to fight the outbreak. The president also announced other moves [...]
Splash the cash and hope for the best March 12, 2020 He didn’t look or sound like a man who had only been chancellor for a matter of weeks. It would have been a difficult debut outing in good times, but delivering an emergency Budget — just hours after an emergency rate cut — would test the mettle of a seasoned parliamentary grandee. The delivery was [...]
City Moves for 12 March — Who’s switching jobs at 11:FS, TLT and Rise? March 12, 2020 Today’s City Moves includes 11:FS, TLT and Rise 11:FS 11:FS, the UK-based digital financial services firm, has announced that it is continuing to strengthen its senior executive team with the appointment of Jo Wright as its chief financial officer (CFO). Jo will play a critical role in the firm’s international expansion. She is a chartered [...]
