Coronavirus: Could the crisis accelerate the need for ESG communications? April 2, 2020 As Britain digests daily press conferences about Covid-19, the words and actions of business leaders are starting to come under increased scrutiny. As small businesses across the country seek banking loans to stay afloat and employees face being furloughed or even made redundant – what leaders do today and how they communicate will have a [...]
The impact of coronavirus on dividends April 2, 2020 As UK banks temporarily suspend all dividend payments, we discuss the effect coronavirus could have on a vital source of income for investors. What’s happening to dividends? The coronavirus crisis and oil price war are having a profound impact on economic growth and the cash position of companies. Many businesses in the most affected sectors [...]
Coronavirus: City watchdog proposes credit card payment freeze April 2, 2020 The UK’s financial watchdog has proposed that banks freeze loan and credit card bills and cancel overdraft interest payments for people hit financially by coronavirus. The Financial Conduct Authority (FCA) said it will carry out a “brief consultation” on the plans. If accepted, they will come into force on 9 April. The FCA made a [...]
Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Treasury set to overhaul coronavirus loan scheme to avoid insolvencies April 1, 2020 The chancellor Rishi Sunak is reportedly set to overhaul the government’s emergency coronavirus loan scheme over concerns that small and medium sized businesses may go bust before they can access the funds. Sky News reported Sunak is set to announce that the requirement for banks to assess whether companies are eligible for other funding products [...]
Nationwide further tightens criteria for new mortgages as coronavirus crisis bites April 1, 2020 Building society Nationwide has further tightened its lending criteria, excluding bonus, overtime and commission as income it recognises for new mortgage applications. The move follows its decision yesterday to withdraw its offering for low deposit borrowers. Nationwide yesterday withdrew mortgages above 75 per cent loan-to-value (LTV) from its online and broker channels and restricted them [...]
FTSE 100 tumbles after coronavirus forces banks to cut dividends April 1, 2020 The FTSE 100 closed down 3.4 per cent at 5,478 points today after the UK’s major banks were punished by investors after scrapping dividends last night. The fall came after the index finished its worst quarter since 1987 yesterday. Shedding more than 24 per cent of its value, the FTSE 100 was pummelled over fears [...]
Coronavirus: UK bank shares take a hit after dividend suspension April 1, 2020 Investors have pummelled UK banks today, sending the FTSE 350 banks index tumbling after lenders suspended dividend payments amid the coronavirus crisis. Barclays, HSBC, Lloyds, Royal Bank of Scotland, Standard Chartered and Santander all halted payouts yesterday following pressure from the Bank of England’s Prudential Regulation Authority (PRA). Traders have today responded by selling the [...]
Asian stocks fall as coronavirus fears return April 1, 2020 Asia’s biggest stock markets fell overnight as fears rose about the death toll from coronavirus in the US, Japan entered a new fiscal year on an unsteady footing, and banks axed dividends. Following the worst quarter for global equities since 2008, Japan’s Nikkei 225 index tumbled 5.1 per cent, Hong Kong’s Hang Seng index dropped [...]
13-year-old boy from London dies as UK coronavirus death toll jumps April 1, 2020 A 13-year old boy from Brixton who was treated for coronavirus has died, London’s King’s College Hospital has confirmed, as UK coronavirus cases continue to rise. Ismail Mohamed Abdulwahab, from Brixton in south London, is believed to be the youngest person to die from the coronavirus in the UK. A spokesperson for the hospital said [...]