Johanna Kyrklund: It pays to be patient April 22, 2020 | City Talk As lockdown continues for millions of us across the world, unsure of when we will see loved ones or return to our places of work, we all know we must be patient. Good things come to those that wait, as they say. This seems to me to be true not only from a personal viewpoint, [...]
Boohoo suffers coronavirus sales hit after bumper year April 22, 2020 Boohoo Group today posted a huge surge in revenue and profit for the full year but warned the outbreak of coronavirus had hit growth in March. The figures Boohoo’s revenue rose 44 per cent to £1.2bn in the year to the end of February 2020. Pre-tax profit jumped 54 per cent to £92.2m. Net cash [...]
Hiscox warns of $175m coronavirus insurance hit April 22, 2020 Insurer Hiscox has anticipated paying out up to $175m (£142m) in coronavirus insurance claims arising from restrictions on travel and mass gatherings. The insurer faces a $150m bill if travel restrictions and social distancing measures remain in place for six months from March. And that insurance sum could rise by another $25m if coronavirus restrictions [...]
The City View podcast from City A.M., with David Buik April 22, 2020 In this episode Christian is joined by legendary City commentator and market analyst, David Buik. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS David is one of the best known and most recognisable financial commentators in the City with more than 40 years of experience behind him. His weekly emails [...]
UK marketing budgets suffer sharpest drop since 2009 crash April 22, 2020 UK marketing budgets declined at the fastest rate since the 2009 global financial crisis in the first quarter as consumers and businesses cut spend due to the coronavirus crisis. A net balance of -6.1 per cent of companies slashed their total marketing budgets in the first three months of the year, according to the latest [...]
Health clinics blasted by ad watchdog over IV drip coronavirus claims April 22, 2020 The advertising watchdog has hit out at three companies over claims that intravenous (IV) drip treatments could be used to prevent or treat coronavirus. An advert on Private Harley Street Clinic’s website promoted a £350 IV infusion by stating it would boost patients’ immune systems and protect against Covid-19. “There is no vaccine available at [...]
Rental moves to drop 25 per cent in 2020 due to coronavirus lockdown April 21, 2020 Rental moves are set to fall by a quarter this year due to the impact of the coronavirus lockdown, according to the latest research. There are around 1.2m moves each year in the UK lettings market, but the number is expected to plummet 25 per cent in 2020 compared to last year. However, demand for [...]
Coronavirus: Billionaire entrepreneur John Caudwell calls on government to extend business support April 21, 2020 Billionaire businessman John Caudwell has called on the government to ramp up its coronavirus support scheme, including underwriting 100 per cent of business loans and extending the job retention scheme. Caudwell, who co-founded Phones4u, said the government must provide 100 per cent loan guarantees to encourage banks to lend to struggling businesses. The government is [...]
Admiral shares up as insurer issues £110m refund to customers during lockdown April 21, 2020 Shares in Admiral jumped three per cent today after the insurer announced it will refund £110m to customers as the coronavirus lockdown has reduced the need for car travel. Admiral said this morning that there are fewer cars on the road, and therefore it expects to receive fewer insurance claims. The insurance company will refund [...]
Italy to relax lockdown restrictions from early May April 21, 2020 Italy will this week outline plans to lift its coronavirus lockdown, with some restrictions expected to be eased from 4 May. The country, which has been one of the worst affected by the coronavirus pandemic, has been under lockdown since 9 March. Italy’s lockdown has seen most businesses close and people only allowed out of [...]