Heathrow’s credit rating downgraded amid coronavirus uncertainty March 27, 2020 Heathrow Airport’s long-term credit rating has been downgraded amid the reduced demand and ongoing uncertainty caused by the coronavirus outbreak. Credit rating agency Standard & Poor has announced today it is lowering Heathrow’s long-term ratings on Class A and Class B debt by one notch. Heathrow Funding Limited retains investment grade credit ratings on the [...]
CBI boss calls for ‘fast’ action to help businesses March 16, 2020 The boss of the CBI has called for the government to help firms under threat from coronavirus. Dame Carolyn Fairbairn used an appearance on the BBC’s Today programme this morning to highlight the drop in demand facing businesses due to increased social distancing. This comes after the coronavirus crisis continued to escalate. “The severity of [...]
Easy does it for travel and leisure as they underpin the FTSE 100 today February 23, 2021 After a promising start European markets struggled to maintain their early market optimism today. However, some decent gains continue in the likes of travel and leisure stocks, with multi-month highs in a lot of cases. Over the last three days this renewed buoyancy has been evident in anticipation of a possible reopening, and with a [...]
Zoopla: Coronavirus could send UK house prices plunging March 26, 2020 UK house prices could plunge dramatically as the coronavirus outbreak causes demand to dry up, Zoopla has warned. The spread of Covid-19 is already having a big effect on the market, causing a 40 per cent drop in demand for housing in the seven days to 22 March, according to data from property website Zoopla. [...]
Coronavirus: Upper Crust owner SSP launches major cash call and cuts jobs March 25, 2020 The owner of Upper Crust and Camden Food Co. SSP will issue new shares and slash jobs it said in a wide-ranging trading update on its strategy to survive the coronavirus slump. SSP will close outlets and reduce staff after encountering a 85 per cent plunge in business across its European sites amid the coronavirus [...]
Q&A: Top tips to consolidate your pensions in a post-Covid world September 11, 2020 Zoe Bailey, a director at financial planning specialist Tilney, goes through the pros and cons of consolidating your pensions Keeping track of multiple pension pots can be challenging – especially in times of economic uncertainty. As a result, simplifying your retirement funds and transferring them into one place can be an attractive proposition. However, there [...]
FTSE 100 and US stocks drop on economy warnings July 7, 2020 The FTSE 100 and US stocks have fallen as investors weigh persistent worries about the economy against countries’ moves to reopen after lengthy coronavirus lockdowns. London’s blue-chip index was 1.6 per cent lower this afternoon, at 6,187 points. It rose more than two per cent yesterday after Chinese shares rallied more than five per cent. [...]
Coronavirus: Banks approve 1.2m mortgage holidays amid financial strain April 14, 2020 More than 1.2m UK households have agreed mortgage holidays with their banks, figures have shown, as the coronavirus crisis causes borrowers unprecedented financial stress. Chancellor Rishi Sunak announced on 17 March that households with mortgages would be entitled to three-month payment holidays, meaning payments would be suspended. It was part of an unprecedented coronavirus response [...]
UK unemployment rate could hit 15 per cent with second Covid wave, says OECD July 7, 2020 The UK unemployment rate could soar to 15 per cent if there is a second wave of coronavirus infections, the OECD has said. Even without a second wave, the global economic organisation reckons unemployment could hit 11.7 per cent, a level not seen since the 1980s. It comes as the UK gradually reopens its economies [...]
London needs a homebuilding kickstart package, with social housing at its heart July 7, 2020 The government’s economic statement tomorrow is an opportunity for the chancellor to put building new homes at the heart of a plan to kickstart the recovery and help Britain bounce back after coronavirus. To achieve this, we need to see much more than Boris Johnson set out in his speech in Dudley last week. A [...]