Economists rule out ‘V-shaped’ recovery after weak survey data May 21, 2020 Survey data today showed that the UK economy remained mired in a deep downturn in May despite an improvement from a dire April. Many economists have said that any hopes of a swift ‘V-shaped’ recovery from the coronavirus crash have all but faded. At the beginning of the crisis, policymakers and analysts hoped that once [...]
Investec takes £105m hit to profit as coronavirus affects trading income May 21, 2020 Investec has said the impact of the coronavirus pandemic on its operating profit of the year was £105m, as trading income fell 7.5 per cent. The figures Investec’s adjusted operating profit for the full year was 16.8 per cent behind the prior year, at £608.9m. Adjusted operating profit from continuing operations of £419.2m was 24.1 [...]
Brewin Dolphin’s profit dips despite increased demand for advice May 13, 2020 Wealth manager Brewin Dolphin’s profit took a hit in the first half of the year, despite an increase in demand for financial advice during the market turbulence. In a market update for the six months to March, Brewin Dolphin reported that statutory profit before tax had dropped 5.1 per cent to £28.2m, down from £29.7m [...]
Nine new lenders approved under coronavirus loan scheme May 6, 2020 Investec is among a group of nine lenders that have today been approved for accreditation under the government’s coronavirus business interruption loan scheme (CBILS). Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social Investment Business, Tower Leasing, Ultimate Finance and White Oak UK will now be able to provide financial support to small businesses across the [...]
Robbie Gibb consortium wins last-minute bid for Jewish Chronicle after dramatic row April 23, 2020 A consortium led by former Downing Street spin doctor Robbie Gibb is set to take control of the Jewish Chronicle after its dramatic last-minute bid for the collapsed newspaper was accepted. The London weekly last week announced it was seeking a creditors’ voluntary liquidation alongside the Jewish News, with which it had agreed to merge. [...]
Fuel prices knock UK inflation rate down to 1.5 per cent in March April 22, 2020 The UK inflation rate fell 0.2 per cent in March to 1.5 per cent, as coronavirus restrictions hit fuel prices. A drop in the price of fuel and clothing resulted in the largest downward contribution to the change in the UK inflation rate between February and March. The rate marks eight consecutive months below the [...]
Jewish Chronicle plunged into bitter row as bidders circle April 17, 2020 The Jewish Chronicle has been plunged into a bitter row as rival factions line up bids to take control of the newspaper ahead of a crunch meeting next week. Earlier this month the London weekly announced it was seeking a creditors’ voluntary liquidation alongside the Jewish News, with which it had previously agreed to merge. [...]
Oil prices slip as production cut underwhelms April 14, 2020 Oil prices have fallen into the red as analysts warn that the production cut agreed by Opec+ will not be enough to match the slump in demand caused by the coronavirus outbreak. Brent crude was 1.1 per cent lower at $31.40 per barrel. US crude was down 1.6 per cent at $22.05 per barrel. The [...]
Coronavirus: Derby and Guineas Festival fall foul of virus April 7, 2020 The first four Classics of the horse racing season, including the Epsom Derby, will be postponed due to the Covid-19 pandemic. The Jockey Club, which operates the QIPCO Guineas Festival and the Investec Epsom Derby festival, confirmed the news late on Tuesday afternoon but said they were looking for alternative dates later in the season. [...]
Investec warns on profits as it navigates ‘challenging’ market March 20, 2020 Investec has warned of a fall in profit as it navigates “challenging market conditions”, exacerbated by the coronavirus outbreak. The specialist bank said operating profit for the year to 31 March 2020 is expected to be 7 to 14 per cent behind the previous year, while adjusted earnings per share would be down between 16 [...]