Schroders profit dips in first half even as assets rise July 30, 2020 Schroders today posted a 10 per cent fall in profit before tax and exceptional items in the first half of the year amid rising outflows in mutual funds and a contraction in revenue margins. Britain’s largest-listed fund manager by market capitalisation reported £306.2m in profit before tax and exceptional items for the first half of [...]
Matt Hancock: Quarantine could return as second wave hits Europe July 30, 2020 Health secretary Matt Hancock today warned the government could re-introduce quarantine to protect the UK as a second wave of infections begins to roll across Europe. “I am worried about a second wave,” Hancock told Sky News. “You can see a second wave starting to roll across Europe, and we’ve got to do everything we [...]
Rio Tinto touts ‘V-shaped’ China recovery as it beats profit expectations July 29, 2020 Rio Tinto said today it saw a sharp V-shaped recovery in China as stimulus spurred industrial activity, helping its first-half profit handily beat market expectations. Rio Tinto is the first of the major iron ore miners to report results from a first half marked by coronavirus-induced disruptions but also by high iron ore prices. “We [...]
BRC: Retailers ease discounting in July as lockdown relaxed July 29, 2020 British retailers discounted their goods less in July than the month before, after consumer demand picked up in many sectors as coronavirus lockdown restrictions eased, data from the British Retail Consortium (BRC) showed today. Average shop prices in July were 1.3 per cent lower than a year before, compared with 1.6 per cent lower in [...]
UK inks deal for 60m vaccine doses from Sanofi and Glaxosmithkline July 29, 2020 Britain has signed a supply deal for up to 60m doses of a possible COVID-19 vaccine being developed by Sanofi and Glaxosmithkline, it said today, its fourth such arrangement. No vaccine has yet been approved to treat or prevent COVID-19, the respiratory disease caused by the coronavirus that has killed more than 659,000 people and [...]
Ousted Renault boss takes wheel at Jaguar Land Rover July 28, 2020 Jaguar Land Rover (JLR) has picked ousted Renault boss Thierry Bollore as its next chief executive, with a mission to return Britain’s biggest carmaker to profit after a big hit from the COVID-19 pandemic. Bollore took over at Renault in January 2019 after the fall of Carlos Ghosn. But he was always viewed as being [...]
Gold hits record $1,980 high as dollar weakens July 28, 2020 Gold hurtled to record peaks today before the sheer scale of its gains drew a burst of profit taking, which in turn helped the dollar up from two-year lows. The precious metal had stormed almost $40 higher at one point to reach $1,980 an ounce XAU=, only for a wave of selling to slap it [...]
Moncler reports loss as second-quarter sales plunge July 27, 2020 Italian fashion group Moncler reported a first-half operating loss for the first time in its history today, as a drop in sales caused by the coronavirus crisis lockdowns accelerated sharply in the second quarter. The group did not provide a forecast for the rest of the year but said it expected no immediate relief from [...]
Ryanair sinks to £168m loss in coronavirus-hit quarter July 27, 2020 Ryanair reported a narrower than expected loss in its fiscal first quarter on Monday and said it was impossible to say whether it might turn an annual profit due to the impact of the COVID-19 pandemic. The Irish airline posted an after-tax loss of €185m (£168.64m) for the three months to 30 June, its first-ever [...]
EU countries must urgently diversify 5G suppliers in Huawei aftermath, Commission says July 24, 2020 EU countries must take urgent action to diversify their 5G suppliers, the European Commission said today, a move set to shrink Huawei’s presence in Europe as the US pressured the bloc to follow the UK and ban the Chinese company from 5G networks. In November last year, the European Union agreed to take a tough [...]
