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 [...]
Russian hackers ‘stole’ US-UK trade deal papers from Liam Fox’s email August 3, 2020 Classified US-UK trade documents were “stolen” from former trade minister Liam Fox’s email account by Russian hackers, according to reports. The papers, which were leaked ahead of the December General Election last year, were accessed via several hacks on Fox’s account between 12 July and 21 October, according to Reuters. Several sources declined to name [...]
The City View: Thames Clippers’ CEO on getting London back to work August 3, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Christian is joined by Sean Collins, co-founder and CEO of London’s riverboat service, Thames Clippers, as the transport provider grapples with life under lockdown. Last year the company carried nearly 5 million passengers, many of them commuters, and today they’re operating at around 25 per cent of that. Despite the [...]
Big Tech cashes in on worst day for US economy since Great Depression July 31, 2020 The world’s four largest tech firms yesterday announced blockbuster earnings for three months to June, despite the US economy facing its darkest day since the Great Depression. Facebook, Google, Amazon and Apple, worth more than $5 trillion ($3.81 trillion) in total, smashed expectations as they all posted record profits yesterday. The upbeat results were met [...]
Give people seeking asylum the right to work in Britain July 30, 2020 The Prime Minister has said he wants the UK to build back better as the country and economy recover from the Covid-19 pandemic. That’s a worthy goal — and the good news is that there are thousands of people in our communities with a wide variety of skills who are desperate to help. They are [...]