Foreign Office cat Palmerston heads into retirement August 7, 2020 Palmerston, the cat who has lived at the Foreign Office for four and a half years, is to step down from his mouse-catching duties for diplomats. He will instead retire to the countryside, where he plans to live out the remainder of his years relaxing in the rolling grass. Handing in his resignation to the [...]
Uber’s food delivery business doubles but demand for rides falters August 6, 2020 Uber said demand for its food-delivery service doubled in the second quarter as users were locked down due to the pandemic, while demand for rides was hit. The company maintained it was sticking to its goal of being profitable on an adjusted basis before the end of next year. Today it reported that revenue in [...]
Starling Bank predicts 2020 profitability despite deepened losses August 6, 2020 Starling Bank has said it expects to break even by the end of this year and be profitable in 2021, despite more than doubling its losses in 2019. Chief executive Anne Boden told reporters the digital bank had benefited from participating in government schemes to provide business loans during the pandemic, gaining new loans on [...]
England’s coronavirus spread slowed as lockdown eased, according to study August 6, 2020 The spread of coronavirus in England slowed as the country transitioned out of the initial lockdown phase and shops, pubs and restaurants started to reopen. The spread of infections slowed in June and early July, according to an Imperial College study of 150,000 volunteers. “As the SARS-CoV-2 epidemic in England transitioned out of its initial [...]
How to improve your forecasting in a constantly changing world August 6, 2020 Companies are moving to the next phase of business planning, with one eye on economic recovery and the other on what their business and industry will look like as they emerge from and go beyond the crisis. But the future is a blind spot for many. Prior forecasting methods, based on past customer demand, may [...]
WH Smith to cut 1,500 jobs as high street and travel footfall plummets August 5, 2020 WH Smith is preparing to cut 1,500 jobs, the high street retailer announced this morning, as it warned it expects to post a full-year loss of £75m due to the coronavirus pandemic. The retailer said it is reviewing its store operations across both its travel and high street businesses due to lower high street footfall [...]
Disney’s earnings take a hit as pandemic wreaks havoc on theme parks business August 4, 2020 Disney reported a profitable third quarter but missed analysts’ expectations as it battled the effect of coronavirus on its theme parks business. Revenue for the quarter was $11.78bn, substantially less than the $20.35bn in the comparable period, and missing the expected $12.39bn. Net loss from continuing operations was $4.72bn, or $2.61 per share, in the [...]
AIG racks up $730m loss amid ‘ongoing catastrophe’ of pandemic August 4, 2020 Insurance giant American International Group (AIG) has piled up $730m (£558.7m) in coronavirus-related losses during the first half of 2020, its chief executive said today. AIG chief executive Brian Duperreault warned of the “formidable and ongoing catastrophe” of the pandemic, as he ran through the insurer’s results in a call with analysts. The firm, which [...]
Coronavirus: How safe is the post-lockdown commute to work? August 4, 2020 After more than four months of lockdown Londoners are beginning to return to the office as public transport operators take measures to make the once-daily commute as safe as possible from coronavirus. Prime Minister Boris Johnson gave employers “more discretion” from 1 August to bring back their staff if it was safe to do so. [...]
Office space provider IWG takes £156m hit on coronavirus crisis August 4, 2020 Office space provider IWG announced it will take a £156m hit due to the coronavirus pandemic as it shrinks its portfolio by four per cent amid a home-working boom. IWG’s share price dropped more than five per cent today after it announced it will accelerate its office closure plans due to the Covid-19 crisis, with [...]