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: Pursue profit at all costs or stand by your staff? The world has its eye on business March 26, 2020 How times have changed. It is remarkable to think that it was just eight weeks ago that business and political leaders from around the world gathered in the Alpine town of Davos. The 50th World Economic Forum was dominated by discussion of the climate crisis, global trade and artificial intelligence. US President Donald Trump declared [...]
Coronavirus: Wetherspoon to pay workers under jobs retention scheme March 25, 2020 JD Wetherspoon will pay its 43,000 workers under the coronavirus jobs retention scheme after the pub chain faced backlash from employees. All staff will be paid on Friday for hours worked last week, and the first payment under the new scheme will be made on 3 April and weekly from then on, the company said [...]
FTSE 100 climbs as global markets rally on unprecedented stimulus measures March 20, 2020 The FTSE 100 has climbed back into the green as investors eyed a fresh wave of government support for companies coming under financial strain due to the coronavirus pandemic. The blue chip index added over five per cent just after the open but then pared back gains to stand at just over one per cent [...]
Coronavirus live: Social distancing needs to be in place for most of a year, say government advisers March 20, 2020 1.35pm: Social distancing measures need to be in place for “most of a year” Scientists advising the government have said social distancing measures need to be in place for “at least most of a year” to combat the coronavirus outbreak. In a press conference last night, Prime Minister Boris Johnson said the UK could “turn [...]
Chancellor Rishi Sunak to announce wage bailout plan March 20, 2020 Chancellor Rishi Sunak is set to announce a massive wage bailout package today to battle the UK coronavirus outbreak. Business groups yesterday pressed the government to step in to help pay workers’ wages. They want protection for millions of jobs as the number of UK coronavirus cases spiked again. Britain’s death toll from coronavirus reached [...]
Travis Perkins suspends dividend and delays Wickes de-merger March 20, 2020 Builders’ merchant Travis Perkins has suspended its dividend due to coronavirus uncertainty. The company also announced its intention to delay its long planned de-merger of DIY retailer Wickes. However, the group announced in its trading update a strong balance sheet with cash deposits of £185m. Boss Nick Roberts said: “Our highest priority is the health [...]
Foxtons will take ‘all necessary steps’ to stay in business amid coronavirus outbreak March 20, 2020 Foxtons issued a trading update this morning advising that it will take “all necessary steps” ahead of the “inevitable material disruption to trading in the coming months.” The estate agent reassured investors that the first 11 weeks of the financial year had been in line with expectations but warned that the “significantly weakened economic outlook” [...]
Coronavirus: Wetherspoon scraps dividend and warns on profit March 20, 2020 Wetherspoon boss Tim Martin has scrapped the pub chain’s dividend and issued a profit warning after Boris Johnson urged Brits not to visit pubs and restaurants amid the UK coronavirus outbreak. A rapid escalation in UK coronavirus cases has already seen a 4.5 per cent decline in Wetherspoon pub sales in the week to 15 [...]
Coronavirus: Pub stocks plunge on ‘stay home’ advice March 17, 2020 Pub stocks plummeted this morning following government advice for the public to avoid pubs and restaurants to slow the spread of coronavirus. The hospitality sector yesterday branded the government’s decision to urge people to stop going to venues without offering any additional help for businesses “catastrophic”. Pub operator Marston’s share price dropped more than 28 [...]