Ashtead warns on profit as coronavirus hits equipment hire demand April 27, 2020 Equipment rental firm Ashtead Group has warned on profit for the full year due to a slump in demand caused by the coronavirus lockdown. The London-based company today said it expected pre-tax profit of roughly £1.05bn for the year to the end of April, down from £1.11bn last year. The revised figures come as Ashtead [...]
Coronavirus: Adidas forecasts 40 per cent drop in sales in second quarter April 27, 2020 Sportswear giant Adidas expects sales to plummet 40 per cent in the second quarter due to the impact of coronavirus lockdowns around the world. The German brand reported a 19 per cent decline in sales in the first quarter, but this morning said it forecast lower sales over the second quarter of the year. Coronavirus [...]
Italy to ease lockdown measures as coronavirus infections drop April 27, 2020 Italy has signalled an easing of lockdown measures put in place seven weeks ago to battle a sudden lethal spike in coronavirus cases. Italy will begin to relax lockdown measures from 4 May, Prime Minister Giuseppe Conte said. People will be able to visit relatives in small numbers and building sites, factories and parks will [...]
Airbus ‘bleeding cash at an unprecedented speed’ due to coronavirus April 27, 2020 Planemaking giant Airbus has written to its 135,000 staff warning them to expect deeper job cuts, with the firm “bleeding cash at an unprecedented speed”. In a letter to employees, chief executive Guillaume Faury said that the aerospace behemoth’s survival was at stake, saying that the recent drop in production of a third was not [...]
Boris Johnson returns to work under pressure to ease UK coronavirus lockdown April 27, 2020 Boris Johnson faces a flurry of meetings about the UK coronavirus lockdown upon his return to Downing Street today after his own severe battle with the infection. The Prime Minister returns to work today after three weeks of fighting off a coronavirus infection that could have killed him. After confirming his positive diagnosis on Twitter [...]
Coronavirus: The City’s third sector has shone amid pandemic April 27, 2020 The coronavirus outbreak is an unfolding global health emergency that requires us all to play our part. We are seeing people from all walks of society across London and the UK coming together to tackle COVID-19 – be it through fundraising activities, volunteering in the community, or by simply checking in on a lonely neighbour [...]
The City View podcast, from City A.M., with Dan Korski April 27, 2020 In this episode, Christian talks to Dan Korski, who served as a senior adviser to Prime Minister David Cameron. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Since leaving government, Dan has focused on backing startups and he’s now the CEO and co-founder of Public – supporting tech firms in [...]
UK orders 50m coronavirus immunity tests April 26, 2020 The UK has reportedly ordered up to 50m new coronavirus immunity tests which would help quickly assess if people could go back to work. The Mail on Sunday reported that a team of British scientists were developing a test which could mean that by June people could reliably find out if they have developed immunity [...]
Coronavirus: Firms must adapt to survive April 26, 2020 As companies slowly transition from shock to survival during what is arguably history’s biggest peacetime crisis, it is becoming increasingly clear that the coronavirus pandemic has the potential to completely transform how the world does business. During an initial ‘Shock Phase’, which started around the middle of March and ended towards the middle of April, [...]
Tory MPs to scrutinise UK’s relationship with China amid anger over Covid-19 response April 25, 2020 Top Tory MPs have today launched a new research group aimed at reassessing the UK’s relationship with China amid concerns over the country’s handling of the coronavirus crisis. The China Research Group will gather and share information on Chinese foreign and industrial policy, as well as its ownership and development of new technologies. MPs said [...]