ECSC shares rise as cybersecurity firm boosts revenue March 25, 2020 Shares in ECSC jumped almost 10 per cent this morning after the cybersecurity firm posted a sharp rise in revenue for the year. The figures ECSC’s organic revenue grew 10 per cent to £5.91m in the year to 31 December 2019. Revenue from its managed services division jumped 48 per cent to £2.59m. Adjusted earnings [...]
Facebook warns ad business weakened by coronavirus crisis March 24, 2020 Facebook has reported a “weakening” of its advertising business during the coronavirus crisis, despite a surge in people using its services. The social media giant said this evening that in countries taking “aggressive actions” to reduce the spread of the virus, its ads business has been “adversely affected”. However, in the countries hit hardest by [...]
Coronavirus: Ryanair ‘does not expect to operate flights in April and May’ March 24, 2020 Ryanair has confirmed that it “does not expect to operate flights in April and May” due to the coronavirus epidemic, a week after warning that it would ground “most, if not all” of its planes. The budget carrier has instead offered its aircraft to all EU governments to use for repatriating civilians and to transport [...]
London retail footfall plunges as shops close amid coronavirus pandemic March 23, 2020 Retail footfall in central London plummeted last week as employees started working from home and shops start to close amid the coronavirus pandemic. Footfall in the capital plunged 63.3 per cent last week, as office workers were advised to stay home. In shopping areas on the outskirts of London footfall was down 21.9 per cent. [...]
What does life look like after coronavirus? March 20, 2020 Right now, the priority for all countries must be to confront the immediate challenges of the coronavirus pandemic: ensuring access to healthcare, maintaining the flow of essential supplies, and managing the economic fall-out that risks seeing businesses and individuals devastated through no fault of their own. But historically, periods of national crisis have often been [...]
Coronavirus will ‘accelerate the digital revolution’, says ad mogul Martin Sorrell March 19, 2020 The outbreak of coronavirus will “accelerate the digital revolution” as businesses and consumers become increasingly reliant on technology, ad boss Sir Martin Sorrell has said. Sorrell, who runs ad fim S4 Capital, today said the “bottom line” of the crisis was that digital transformation would move at a much greater pace. “Businesses that were probably [...]
The Novelty of the Coronavirus: What it means for Markets March 18, 2020 Does market history offer any parallels to today’s novel coronavirus crisis? Market action in recent weeks has been reminiscent of the global financial crisis (GFC) of 2007–2009, the crash of 1987, and, for those with a long memory, the crash of 1929, which wouldn’t have been so disastrous if it had not been followed by [...]
Noel Quinn made HSBC chief executive on permanent basis March 17, 2020 Banking giant HSBC has confirmed that interim chief executive Noel Quinn will take up the post permanently with immediate effect, bringing to an end a six-month external search. In August last year chairman Mark Tucker ousted chief executive John Flint over an alleged argument about how fast the bank should have been hitting its targets. [...]
The coronavirus crisis calls for a two-week stock market trading holiday March 17, 2020 Last week was marked by a series of trading halts as stock markets swung from “limit down” to “limit up,” and the Dow Jones Industrial Average posted its worst single-day loss since Black Monday in 1987. Uncertainty abounds, but one thing is for sure — no one knows what is going to happen next. It’s [...]
Coronavirus: Law and accountancy firms move to remote working in face of covid-19 pandemic March 16, 2020 A string of big legal and accountancy firms have triggered emergency remote working plans this week, sending thousands of workers home as the coronavirus crisis rages. Big Four audit firm Deloitte is asking all its UK staff to work from home tomorrow, while KPMG is allowing staff to work from home if they choose. Magic [...]