UK workers slowest in Europe to return to the office August 6, 2020 British office workers have been much slower to return to their desks than counterparts in France, Germany, Italy and Spain as they continue to work from home, according to new research. Just over one-third of UK white-collar employees have returned to work since the lockdown, compared to almost three-quarters of staff in Europe, according to [...]
Savills reports sharp drop in profit due to coronavirus crisis August 6, 2020 Estate agent Savills reported a sharp drop in profit in the first half of the year due to the impact of the coronavirus crisis on the UK housing market. The figures In the six months ended 30 June, group revenue fell seven per cent to £791.4m. Underlying group profit before tax plunged 66 per cent [...]
FTSE 100 ends higher and gold surges as investors bet on stimulus August 5, 2020 The FTSE 100 closed higher and US stocks rose as investors hoped Democrats and the White House would strike a new stimulus deal, while gold surged to a fresh all-time high. London’s blue-chip index ended the day one per cent higher at 6,098 points. The FTSE 250 of mid-cap firms jumped 1.7 per cent. Read [...]
Could the bounce-back be quashed by a second wave? August 4, 2020 With some countries fearing a second wave of Covid-19 cases, Schroders’ chief economist Keith Wade considers whether a bounce back in the economy could be quashed. While there are hopes that the easing of lockdowns and reopening of businesses are beginning to give life to the global economy, fears of second waves of infections are [...]
FTSE 100 flatlines as companies reveal mixed earnings August 4, 2020 The FTSE 100 closed flat on a choppy day of trading as investors mulled company earnings, the chances of more economic stimulus and rising coronavirus cases around the world. London’s blue chip index closed marginally lower at 6,027 points. The FTSE 250 index of slightly smaller, domestically focused firms ended the session up 0.73 per [...]
Argentina strikes deal with creditors over $65bn debt in major breakthrough August 4, 2020 Argentina has reached a deal with its largest creditors to restructure $65bn (£50bn) in defaulted sovereign debt, in a major step forward in long-running talks. The South American country’s government hailed the breakthrough, saying in a statement that it will “grant Argentina significant debt relief”. Argentina’s economy has been battered in recent years by high [...]
Google parent Alphabet reveals record $10bn bond at lowest-ever price August 4, 2020 Alphabet borrowed $10bn (£7.66bn) in the investment-grade corporate debt market yesterday, marking its largest ever bond issue at its lowest price to date. Within the $10bn on offer, a $1bn five-year tranche was issued at a discount of 0.45 per cent — the lowest discount seen at that maturity since Apple issued a $1.5bn five-year [...]
Are you up to speed on major changes to business restructuring? August 4, 2020 Among the many government schemes launched to help businesses during the COVID-19 pandemic, one valuable tool risks flying under the radar. The Corporate Insolvency and Governance Act 2020 represents the biggest change to UK restructuring legislation in a generation. It gives distressed companies new ways to address their difficulties while still remaining in control and [...]
Sir Richard Branson set for space as Virgin Galactic signs Rolls-Royce deal August 4, 2020 Sir Richard Branson, the billionaire founder of private spaceflight firm Virgin Galactic, will be one of the first to go into space in one of his company’s rockets, it has been revealed. As long as two test flights scheduled for the autumn are successful, Branson will go into orbit early next year, Virgin Galactic said [...]
No longer superheroes? Twilight of the bonds August 4, 2020 Superman not only has the best superpowers – he is also handsome and humble. No-one can outmatch him, except perhaps someone who brings the proverbial gun to a knife fight. In this case, that gun is Kryptonite, Superman’s only known weakness. The substance renders his powers useless. In the investment world, fixed-income instruments have their [...]