Japan may postpone Tokyo Olympics as coronavirus cases mount March 3, 2020 Japan may be allowed to postpone the Tokyo Olympics until the end of 2020, the country’s minister responsible for the games said today. Olympics minister Seiko Hashimoto has said Japan’s agreement with the International Olympic Committee to host the 2020 games could be deferred until the winter. “The contract calls for the games to be [...]
ECB ‘working on lending scheme’ for small businesses hit by coronavirus March 3, 2020 The European Central Bank is reportedly working on measures to provide liquidity to businesses hit by the economic impact of the coronavirus outbreak. Measures being considered by the ECB include a targeted longer-term refinancing operation directed at small and medium-sized firms, which could be hardest hit by a virus-related downturn, sources familiar with the discussion [...]
UK PMI: Construction expands at fastest rate in over a year March 3, 2020 UK construction output rose at its fastest rate in over a year in February, a survey showed today, as new orders picked up at a fast clip. The IHS Markit/Cips construction purchasing managers’ index (PMI) jumped to 52.6 in February, up from 48.4 in January. A score of above 50 indicates expansion and it was [...]
Fresnillo shares slide on plunging profit March 3, 2020 Shares in miner Fresnillo fell this morning after it announced a plunge in pre-tax profit of 63 per cent. The company cut its production forecast four times last year, as it grappled with lower quality ore and construction delays at its Herradura mine in Mexico. Pre-tax profit fell 63 per cent to £178m and revenue [...]
Net asset value grows at John Laing but profit falls March 3, 2020 Infrastructure company John Laing said today its net asset value (NAV) grew 4.3 per in 2019. The FTSE 250 company said NAV per share was 337p at 31 December, compared to 323p per share on 31 December 2018. NAV grew to £1.6bn from £1.5bn the previous year. Pre-tax profit for the year fell to £100m [...]
Cairn Homes revenue and profit rises as average selling price jumps March 3, 2020 Cairn Homes has reported a 28 per cent jump in operating profit, with the Irish hosuebuilder benefitting from an increase in the number of homes sold and a rise in their average selling price. Operating profit for the year ending 31 December hit €68m (£59m), according to preliminary results released this morning, while revenue increased [...]
Direct Line says coronavirus claims could weigh on its travel business March 3, 2020 Direct Line said today that the coronavirus outbreak could hit the 2020 sales of its travel business. The insurer said it had incurred coronavirus-related claims of around £1m, the majority of which were for trips to regions where the Foreign & Commonwealth Office (FCO) advised against all but essential travel. The company also estimated the [...]
Coronavirus concerns see hand sanitiser sales leap 255 per cent March 3, 2020 Coronavirus fears saw sales of hand sanitiser spike 255 per cent in February, according to supermarket data released today. Sakes of liquid soaps also rose seven per cent as shoppers hit the shelves as the number of coronavirus cases outside China rose sharply last month, research firm Kantar said. Sales of household cleaners jumped 10 [...]
CMC Markets flags profit jump amid Covid-19 stock volatility March 3, 2020 Online trading platform CMC Markets today predicted that its full year profit would beat market forecasts amid higher customer trading due to the Covid-19 coronavirus outbreak. Net operating income for the year to the end of March is set to beat the current estimate of £199m to £202.3m. “I am delighted that CMC’s strategy of [...]
No fly zone: As coronavirus fears grow, airlines must brace for the worst March 3, 2020 One of last month’s more outlandish news stories was the report that the coronavirus outbreak had caused an upsurge in private jet inquiries. More wealthy travellers than ever, it seems, are willing to pay thousands of pounds an hour for a plane unto themselves, in an attempt to dodge the risk of getting infected. The [...]
