British Airways owner IAG targets ‘meaningful return’ to flying in July May 7, 2020 British Airways owner IAG has announced that it is targeting a “meaningful return” to operating flights in July, but warned passenger numbers across the whole year could fall by 50 per cent. The airline warned that it did not expect to see a return to pre-coronavirus passenger numbers until 2023, meaning further restructuring would be [...]
Business travel will still matter in a post-pandemic world May 6, 2020 The outcome of the Government’s review of lockdown this week may provide a glimpse of the steps necessary for economic recovery. Yet, the business community is fully aware that recovery will be a gradual process. There will be no magic panacea. Recovery requires long and careful planning and for many industries to work closely together. [...]
Co-operative Bank takes £12m hit from coronavirus as losses continue May 6, 2020 The Co-operative Bank booked a loss in the first quarter as it took a £12m hit from coronavirus, it has said in a trading update. The challenger bank said today that it made an underlying loss of £14.2m in the first three months of the year. This was down from a loss of £5.1m in [...]
Regulator calls for early interventions in poor audits to help stop scandals May 6, 2020 The audit regulator today called for accountancy firms to flag poor quality audits sooner to help prevent corporate scandals. The Financial Reporting Council (FRC) said tools for spotting signs of poor quality audits should be used more effectively, following a major review of their use. Last year all of the UK’s leading accounting firms failed [...]
The City marks the sacrifice of World War II heroes May 5, 2020 This Friday at 3pm I’ll be joining millions of people across the UK and world in raising a glass to toast the heroes of World War 2, as we mark the 75th anniversary of VE Day. At the forefront of my mind of course will be the incredible Colonel Tom Moore, a man who continues [...]
How have sustainable companies performed during the Covid-19 crisis? May 5, 2020 Rather than being a luxury or an optional extra, our analysis shows that a focus on sustainability would have helped relative performance during the recent market turbulence. Here at Schroders, our view of sustainable investing is that companies who treat their stakeholders fairly will see better share price performance than those who do not. There [...]
Crypto AM shines its Spotlight on Koine May 5, 2020 Founded in 2017 by Al Moore and Phil Mochan, Koine offers segregated, institutional custody and settlement of digital assets, providing a transformative security model, eliminating settlement and counterparty risks. Under the steer of CEO and Chairman Hugh Hughes, Koine brings together, for the first time, the full suite of governance, compliance, risk management and audit [...]
Marketing: What’s your Covid-19 story? May 5, 2020 COVID-19 is having a profound impact on all aspects of the UK economy. It is also changing the rules of corporate communications. The focus for most listed companies right now is getting their house in order with equity raises, dividend suspensions and executive pay cuts. However, attention will quickly turn to adjusting to the new [...]
Work will change, but the office is here to stay May 5, 2020 As the coronavirus crisis continues to unfold and much of the population adjusts to remote working, many are heralding the end of the office as we know it and trumpeting working from home as the ‘new normal’. But just how viable is the prospect of an office-free future? History tells us that any vision of [...]
Business confidence hits record low as finance chiefs predict 20 per cent revenue drop May 4, 2020 Business confidence fell by the largest amount on record during the first quarter, according to a survey of chief financial officers published today. In the first quarter, 84 per cent of finance bosses said they are less optimistic about the prospects for their company than they were three months ago the survey from Deloitte found. [...]