Guinness owner Diageo to raise $2.5bn through bond offering April 28, 2020 Guinness owner Diageo plans to raise $2.5bn through a bond offering, weeks after it was forced to scrap its share buyback scheme due to the coronavirus pandemic. The drinks giant, which also owns Smirnoff vodka and Johnnie Walker whisky, said the bond offering consisted of $750m 1.375 per cent fixed rate notes due 2025, $1bn [...]
Economies in free fall as hopes fade for a V-shaped recovery April 28, 2020 Amongst the arguments about a lack of protective clothing for health workers and whether governments were too slow to react to the spread of Covid-19, the latest figures show that the pandemic is gradually coming under control. The rate of growth in new infections and fatalities around the world is slowing and the curves are [...]
Shoppers spend extra £524m at UK supermarkets in April April 28, 2020 Shoppers spent an extra £524m at UK supermarkets during the coronavirus lockdown compared to April last year. Grocery sales soared 9.1 per cent in the 12 weeks to 19 April, which were £524m higher in the past four weeks than they were in April 2019. Households made a record low 14 trips to UK supermarkets [...]
John Lewis could permanently close some stores when coronavirus lockdown ends April 27, 2020 John Lewis is reportedly considering permanently closing some department stores after the UK’s coronavirus lockdown restrictions are lifted. All John Lewis department stores closed last month after the government ordered all non-essential retailers to shut during the coronavirus lockdown. However, some of the less viable John Lewis stores could remain shut after the lockdown restrictions [...]
Coronavirus: Adidas forecasts 40 per cent drop in sales in second quarter April 27, 2020 Sportswear giant Adidas expects sales to plummet 40 per cent in the second quarter due to the impact of coronavirus lockdowns around the world. The German brand reported a 19 per cent decline in sales in the first quarter, but this morning said it forecast lower sales over the second quarter of the year. Coronavirus [...]
Coronavirus: Boris Johnson ‘plans to return to work on Monday’ April 24, 2020 Boris Johnson is intent on returning to work as soon as Monday to continue tackling the coronavirus crisis, it is reported. Earlier this month, the Prime Minister was discharged from St Thomas’ Hospital following his own battle with coronavirus. He has since been recovering at Chequers, his countryside residence. But Johnson – who spent three [...]
UK retail sales ‘obliterated’ in record fall over coronavirus April 24, 2020 UK retail sales plunged by their biggest fall on record in March, official data showed today as retailers counted the cost of the coronavirus lockdown. While food sales surged, overall UK retail sales plummeted 5.1 per cent last month compared to February, according to the Office for National Statistics (ONS). That was much bigger than [...]
Consumer confidence teeters on brink of record low during coronavirus lockdown April 24, 2020 Consumer confidence plummeted at the beginning of April but held steady for the rest of the month as the UK adjusted to life under lockdown. The latest research showed that consumer confidence stayed at minus 34 points throughout the month, just five points above the record low reported in July 2008. The measure for the [...]
Commercial landlords banned from using ‘aggressive’ rent collection tactics April 23, 2020 UK shops, restaurants and pubs will be protected against aggressive rent recovery action during the coronavirus crisis after the government issued new rules for commercial landlords. The government has temporarily banned the use of statutory demands and winding up orders until at least June following pressure from the retail and hospitality sectors. Many retail, hospitality [...]
What’s happening to dividends and what next? 11 questions answered April 23, 2020 Nick Kirrage, co-head of the Value team, and Sean Markowicz, part of the Research and Analytics team, chatted with us about the future of dividends and buybacks. With so many investors reliant on dividends to boost their income or support their retirement we wanted know what’s happening now, whether investors should be concerned and what [...]