Oil sinks to lowest price in a year as virus fears grow February 27, 2020 Oil prices today hit their lowest level since January last year as fears about the impact of the coronavirus on the world economy grew. Brent crude was down 4.3 per cent to $51.14 a barrel this afternoon as the virus continues its spread outside of China. Any impact on global consumption or manufacturing patterns will [...]
Coronavirus: Global stocks spill $3 trillion as Covid-19 sends FTSE 100 staggering February 27, 2020 European stocks tumbled yet again today as fresh coronavirus concerns saw the FTSE 100 sink three per cent this afternoon as stock markets across the world dropped sharply. London’s blue-chip index plunged far below 7,000 points to 6,831.2 today after Australia’s Prime Minister warned the world is on the brink of a coronavirus pandemic. Cases [...]
Aston Martin finance chief quits as firm falls to £100m loss February 27, 2020 Aston Martin fell to a loss of over £100m today as the luxury carmaker announced it would use 2020 to “reset” the business in order to compete in the supercar market. The firm said that the release of the new DBX and Valkyrie models, which are scheduled for the summer, would be critical to fulfilling [...]
Apple receives bloody nose over Chinese censorship policies February 26, 2020 Apple’s shareholders today launched an unsuccessful proposal critical of the firm’s removal of apps at the request of the Chinese government, despite garnering two-fifths of investors’ support. The proposal drew a much higher proportion of votes than similar proposals in previous years which had gained support only in single-digit percentages. The bid had called on [...]
Microsoft downgrades Windows and Surface outlook on coronavirus outbreak February 26, 2020 Microsoft has said it won’t meet parts of its quarterly guidance following the coronavirus outbreak. The downgrade relates to its More Personal Computing segment, which Microsoft had previously forecast to report between $10.75bn (£8.33bn) and $11.15bn in revenue for the upcoming quarter. “Although we see strong Windows demand in line with our expectations, the supply chain is returning [...]
Walmart in talks to sell controlling stake in Asda February 26, 2020 Asda’s owner, the US retail titan Walmart, is in early-stage talks about selling a controlling stake in the UK supermarket, the two firms revealed today. Walmart, the world’s largest retailer, said the discussions had begun after “inbound interest” from a small number of firms. The announcement came just under a year after Asda’s planned £7.3bn [...]
Global car sales set to fall in 2020 as coronavirus fears grip February 26, 2020 Moody’s has lowered its forecast for global car sales for 2020 as the continued coronavirus outbreak reduces demand and disrupts automotive supply chains around the world. The ratings agency expects global automobile unit sales to decline 2.5 per cent in 2020, narrowing from a 4.6 per cent drop in 2019, but worsening from the 0.9 [...]
Peugeot owner PSA roars to record profit as group prepares for Fiat merger February 26, 2020 Peugeot manufacturer PSA Group offset a slump in vehicle sales across European markets as it posted a record profit in 2019, ahead of its merger with Fiat Chrsyler later this year. However the firm said that an industrial shutdown in China as a result of the coronavirus outbreak could knock its supply chain, leading to [...]
FTSE 100 falls further after ‘bloodbath’ as coronavirus weighs on stocks February 25, 2020 The FTSE 100 fell below 7,100 points for the first time since October last year as fears of a coronavirus pandemic continued to weigh down stocks a day after global markets plunged. After starting the day with a marginal rise, the FTSE 100 finished the day nearly two per cent lower at 7,017 points. Germany’s [...]
Car dealers confident for coming year as Brexit fears dwindle February 25, 2020 An overwhelming majority of UK car dealerships are confident about the outlook for their business, despite a challenging 2019 for the motor industry. A new survey by Close Brothers Motor Finance shows that 98 per cent of dealers were optimistic about the future, with almost two-thirds (63 per cent) describing themselves as “very confident”. The [...]