Toyota expects profit to fall 80 per cent on coronavirus hit May 12, 2020 Japanese carmaker Toyota today said it expects profit to fall 80 per cent to its lowest level in nine years after the impact of coronavirus on its sales. Toyota said it expects to take a massive 1.5 trillion yen (£11bn) hit from a collapse in global sales, but it still expects to scrape an operating [...]
French passengers not included in UK quarantine plans May 11, 2020 The UK’s new quarantine measures for incoming passengers will not apply to people coming from France, Downing Street has confirmed. Last night Prime Minister Boris Johnson announced that “it would soon be time” to introduce a quarantine period for all those entering the UK by air. However, after a phone call with French president Emmanuel [...]
Tech firms must now show they’re serious about building trust May 11, 2020 The pandemic lockdown has supercharged the already dizzying speed of technological change. In six weeks we’ve come to accept a world where the office has become Zoom, the classroom Google and the theatre YouTube. Neighbours support each other through Slack channels. The dying say their farewells on FaceTime. And with little prospect of significant changes [...]
Exit strategy: How and when Boris Johnson will end the UK lockdown May 7, 2020 The Prime Minister is set to reveal a “roadmap” to end UK lockdown measures on Sunday, but what does the exit strategy look like, and when will measures be eased? Last week, Boris Johnson said the UK had “passed the peak” and today chairs a Cabinet meeting that will focus on what restrictions can be [...]
The Long Read: Sir Martin Sorrell on advertising, coronavirus and the new media landscape May 7, 2020 Sir Martin Sorrell has bestrode the ad world for decades – and in the midst of a global pandemic that has hit the industry hard, he’s understandably got some thinking to do. Christopher Jackson spoke to the ad mogul, and his interview for finitoworld – the organisation’s online magazine – is republished here. Prior to [...]
FTSE 100 and US stocks rise despite more dire economic warnings May 7, 2020 US stocks have joined the FTSE 100 in positive territory as investors bet on a relatively speedy economic recovery from coronavirus despite yet more dire economic predictions. London’s blue-chip FTSE 100 index was up 1.4 per cent at 5,933 points in afternoon trading. This was despite the Bank of England warning of the worst slump [...]
Could group action claims explode in post-coronavirus crisis litigation boom? May 7, 2020 Lawyers and litigation funders are increasingly looking at group action lawsuits in England and Wales as a way of holding major companies to account. After the last financial crisis litigation spiked as contractual counterparties fell out and consumers and shareholders pursued banks for wrongdoing. The litigation landscape in the English legal system has changed over [...]
O2 and Virgin Media confirm merger to create £31bn telecoms player May 7, 2020 O2 and Virgin Media have confirmed a merger to form a multi-play broadband giant that would be valued at a combined total of £31.4bn. The pair pledged to invest £10bn into the UK over the next five years while saving £6.2bn through combined synergies, or £540m a year five years after the merger completes. But [...]
BT scraps dividend as Covid-19 and full-fibre rollout hit profit May 7, 2020 BT today scrapped its dividend as the coronavirus crisis and full-fibre broadband costs weighed on profit. The telecoms giant said it had taken the “exceptionally difficult” decision to suspend the payout until 2022, when it will be reduced 50 per cent to 7.7p per share. It came as BT posted a two per cent dip [...]
Boohoo’s understanding helps it avoid lockdown tears May 6, 2020 Fashion retailer Boohoo operates its namesake brand, menswear edition Boohooman, PrettyLittleThing, Nasty Gal, Miss Pap and high street brands Karen Millen and Coast. Despite its many names Boohoo follows an online-only model, meaning that the nationwide lockdown in response the coronavirus crisis has led to minimal disruption. Boohoo’s chief financial officer reported that customer acquisition [...]