Coronavirus dividend cuts produce £4.4bn hit to investor portfolios March 27, 2020 With more UK firms announcing coronavirus-fuelled dividend cuts this week, the total loss of investor income so far this year is now £4.4bn. The pace of dividend cuts is accelerating as coronavirus wreaks havoc on world economies. In March 116 companies have suspended their dividends totalling £4.2bn, according to investment fund AJ Bell. That compares [...]
Coronavirus: British companies rush to mothball results after City watchdog calls for delay March 23, 2020 British companies are rushing to delay the publication of their results following an unprecedented call from the financial regulator for results to be suspended due to the coronavirus crisis. The Financial Conduct Authority (FCA) said late on Saturday that listed firms planning to report preliminary results in the next few days should mothball them for [...]
Coronavirus: B&Q owner Kingfisher to negotiate rent payment terms March 18, 2020 B&Q owner Kingfisher is preparing to negotiate its rent payment system with landlords as it tries to save cash amid the coronavirus crisis. Kingfisher, which also owns Screwfix Direct, will ask to pay rents across its 950 UK stores on a monthly basis, rather than each quarter, Sky News reported. Retailers are increasingly facing cash [...]
B&Q owner Kingfisher’s shares dive on European store closures March 16, 2020 Shares in B&Q owner Kingfisher plunged this morning after the DIY retailer warned that sales were expected to take a hit as stores closed across Europe due to the outbreak of coronavirus. The firm’s share price dropped more than 19 per cent after it was forced to shutter 221 of its Castorama and Brico Depot [...]
FTSE 100 reshuffle: The five stocks at risk of falling out of London’s blue-chip list March 2, 2020 Supermarket chain Morrisons, B&Q owner Kingfisher and travel agent Tui are among the companies at risk as the FTSE braces for a reshuffle this week. The next quarterly shake-up is due to be announced on Wednesday, based on closing prices tomorrow. NMC Health, which is facing a probe into its finances by the City watchdog [...]
Saga appoints ex-Superdry boss Euan Sutherland to CEO role December 11, 2019 Over-50s insurer Saga has found a new chief executive in the former boss of Superdry, Euan Sutherland. Sutherland will start at Saga on 6 January, replacing retiring boss Lance Batchelor, who will leave the business at the end of January. Read more: Saga could sell care operations under Elliott break-up threat Sutherland recently quit the [...]
FTSE 100 falls one per cent after Donald Trump trade comments November 20, 2019 European stock markets have fallen today following President Donald Trump’s threat to raise tariffs on Chinese goods if no deal can be reached between the two sides, with the FTSE 100 leading the bunch downwards. The FTSE 100 was down 1.09 per cent by 12.45pm UK time. In Germany, the Dax index was 0.70 per [...]
B&Q owner Kingfisher’s new CEO blasts ‘disappointing’ like-for-like sales slump November 20, 2019 B&Q owner Kingfisher saw like-for-like sales sink 3.7 per cent over its third quarter, as its new chief executive admitted he has “much to do” to improve the business. Sales sank 3.1 per cent to £2.96bn over the quarter to the end of October, with the UK seeing a one per cent decline in like [...]
B&Q owner Kingfisher appoints new finance boss October 9, 2019 B&Q owner Kingfisher has appointed a new chief financial officer, it said today. Bernard Bot joins the home improvement group after his most recent role as finance boss of travel technology firm Travelport Worldwide which was New York-listed until June. His appointment comes less than a month after chief executive Thierry Garnier took up his [...]
Like a brick: SIG shares drop as profit warning sends ripples through construction industry October 7, 2019 Building materials firm SIG shares tumbled 15 per cent this morning as it warned profits would be “significantly lower” than last year, amid languishing construction markets in the UK and Germany. SIG’s warning set alarm bells ringing across the industry as it said a “deterioration in trading conditions” had worsened in recent weeks. Read more: [...]