UK productivity shows weak growth before coronavirus hit April 7, 2020 UK productivity grew by 0.3 per cent year on year in the final quarter of 2019, official statistics have shown, marking relatively weak growth before coronavirus hit the economy. The figure was unchanged from the previous quarter but was an improvement from the previous four quarters of zero growth or contraction, the Office for National [...]
UK house prices face unpredictable blow from coronavirus after March rise April 7, 2020 UK house prices jumped in March, before the impact of the coronavirus lockdown was felt. House prices were up three per cent year on year. However, on a monthly basis, UK house prices were flat. The average UK house price was £240,384 last month, according to the latest Halifax research. However, the outbreak of coronavirus [...]
NMC Health strives to avoid administration after being hit by creditor court action April 6, 2020 Scandal-hit NMC Health is working to avoid going into administration after being hit by a court action brought by one of its creditors. The London-listed company said today that lawyers acting for Abu Dhabi Commercial Bank (ADCB) filed an application on 2 April in the High Court to appoint administrators to NMC with a hearing [...]
COVID-19 has now triggered 215 profit warnings April 3, 2020 The headline number tells you that we’ve recorded 215 COVID-19 related profit warnings in 2020, as of 9am 2 April 2020. Of those 215 COVID-19 related warnings, almost 190 have come in the last three weeks. That’s significantly higher than any quarter we’ve recorded in the last 21 years. It’s almost as many as we’ve counted [...]
COVID-19: What practical measures can businesses take to keep operating? April 3, 2020 EY’s latest COVID-19 webcast focused on the pressing challenge of business continuity, asking what measures companies can practically take to keep operating in these extraordinary circumstances. Clearly, businesses are dealing with very different and evolving sets of challenges – from companies experiencing massively increased sales, to those battling sudden falls in demand and businesses who [...]
Business heavyweights sign on to Covid-19 business pact April 2, 2020 Some of the UK’s largest companies, including BP and RBS, have signed up to a pledge to provide extra support their employees and customers through the coronavirus. Former cabinet secretary Justine Greening created the initiative, called the C-19 Business Pledge, and involves companies promising to offer things like financial security advice and mental health help [...]
Travelex owner Finablr announces new boss as finance chief quits April 1, 2020 Travelex owner Finablr has announced a new chief executive as its finance boss quit, following the resignation of its auditor and two other directors in recent days. Finablr tapped Bhairav Trivedi for the top job after his predecessor Promoth Manghat left when the firm expressed doubts about its ability to continue. Trivedi joined Finablr on [...]
EY resigns as auditor of Travelex owner Finablr as board members quit March 30, 2020 EY has resigned as auditor of Finablr after the troubled payments firm could not accommodate some adjustments it requested, including changing the composition of its board. Trading in the London-listed firm’s shares was suspended earlier this month after Finablr warned it was preparing for potential insolvency. It has launched an investigation into its finances. Finablr [...]
COVID-19 – the latest challenge to ‘levelling up’ the UK economy March 30, 2020 In uncharted territory … When I flew out of Buenos Aires in late 1990, having ended my stint working as part of a team supporting the economic reform programme of President Menem, I genuinely believed I would never again work in such a severe economic situation like the one Argentina had been in. Prices in [...]
COVID-19 and cyber: Critical actions for employees and business to take now March 30, 2020 Recent weeks have been challenging for us all on so many fronts. Most importantly businesses have had to prioritise the health of society whilst doing their very best to keep things on track. Each day has brought new challenges as employees rapidly adapt to new ways of working. How can businesses maintain operational resilience and [...]