Press | Vox Markets
WIZZ
Low-cost European carrier Wizz Air Holdings (WIZZ) has revealed actions to slash routes, cut costs and freeze recruitment as part of plans to offset plunging demand amid the coronavirus outbreak.
INTU
Shopping centre owner Intu Properties (INTU) has abandoned attempts to raise between £1billion and £1.5billion, it announced on Wednesday morning, blaming market uncertainty. The company said investors had been put off by poor conditions in the equity market.
BARC
Banking giant Barclays (BARC) has announced changes it says will lead to the loss of 250 jobs.
BT.A
BT Group (BT.A) probes claims equipment supplier Huawei has been linked to modern slavery in China.
LGEN
Life insurance and pension giant Legal & General Group (LGEN) has raked in around £155million worth of extra profit from people not living as long as they were expected to in the last year.
INTU
Struggling shopping centre owner Intu Properties (INTU) abandons £1bn cash call. Group says there is risk it could breach certain bank covenants when they are tested in July.
Jaguar Land Rover to shut Merseyside plant for 10 days. Carmaker also altering schedules at Castle Bromwich and Solihull due to weak sales.
MTRO
Metro Bank (MTRO) ousts risk officer a fortnight after he joined ailing lender. Grahame McGirr told to leave just days before his formal takeover of role
CNA
Centrica (CNA)‘s British Gas and VW unveil three-year electric vehicle deal. Engineers to install fastest home car-charger available in exclusive one-stop package
FLYB
Flybe Group (FLYB) on brink of collapse as coronavirus outbreak takes toll. Covid-19 hits demand for air travel and government stalls over £100m loan
FLYB
Flybe Group (FLYB)‘s request for £100m state loan set to be rejected. Airline’s management pins hopes on cut to air passenger duty to help business survive.
Losses soar at SoftBank-backed Improbable Worlds. Tech company still awaits first hit game to be developed on its simulation platform.
LGEN
New business surges at Legal & General Group (LGEN) Investment Management. UK’s largest asset manager boosted by mandate from world’s biggest pension fund
Bailey insists BoE will move quickly on coronavirus. Incoming governor forced to defend record at City watchdog in front of MPs
Lindt warns of chocolate price rises. The Swiss chocolate maker sources as much as 80pc of its cocoa from Ghana which is charging a premium on cocoa shipments.
SoftBank-backed Improbable warns of lack of ‘self-sustaining profitability’ after £39m loss. The UK technology company is trying to build matrix-like simulations for video games and industry.
FLYB
Flybe Group (FLYB) rescue in the balance with ministers poised to reject £100m loan. The future of 2,000 staff and more than 1,300 pensioners is looking increasingly bleak.
The Chinese online giant Alibaba has taken a minority stake in Klarna, the rapidly growing “buy now, pay later” business in a move that will further boost the Swedish group’s $5.5 billion (£4.3 billion) valuation.
INTU
Intu Properties (INTU), one of Britain’s largest shopping centre owners, has abandoned plans for an emergency fundraising to reduce its £4.7 billion debt pile.
BMS
Braemar Shipping Services (BMS) said that the prolonged disruption triggered by the coronavirus outbreak, which has shut down factories across China and strained production lines across the world, was likely to knock its sales.
New chief scraps plans to split company. Analysts had widely expected the company to spin off its hygiene and home business.
SRP
Serco Group (SRP) is getting back on its feet and profits are gaining momentum. A first dividend from the firm since 2014 and improvements in margins suggest that investors can afford to be patient.
IOF
Brexit backer Arron Banks to launch a coup at iodine maker Iofina (IOF). Mr Banks believes Iofina is well-positioned to take advantage of the coronavirus crisis given iodine’s use as a disinfectant.
Google has betrayed its ‘don’t be evil’ motto, says the former executive. Ross LaJeunesse quit as Alphabet’s head of international relations last year, disenchanted by changes to its core values.
BARC
An activist investor has called on Barclays (BARC) to remove its chief executive over his links with Jeffrey Epstein, the convicted sex offender.
GRG
The popularity of vegan sausage rolls resulted in record profits for Greggs (GRG) but the bakery chain said that stormy weather depressed sales last month and raised concerns about the potential impact of the coronavirus outbreak.
The first retailers to open at the Battersea Power Station redevelopment will include luxury and beauty brands such as Hugo Boss, Watches of Switzerland (WOSG) and Jo Malone London.
DLG
Insurer Direct Line Insurance Group (DLG) has said the UK’s recent winter storms are set to cost it at least around £35 million, while it revealed a £1 million bill so far for coronavirus travel claims.
GRG
Greggs (GRG) enjoyed a 13.5% sales rise to £1.2billion last year boosted by its vegan sausage rolls – but today warned February sales have been much lower because of the poor weather.
RWA
Recruitment consultancy Robert Walters (RWA) has reported pre-tax profits of £47.4 million, down 6 percent on a constant currency basis after multiple geopolitical disruptions affected its business.
BARC
Barclays (BARC) came under attack on two fronts as a major investor called for the boss to be axed and climate change protesters shut branches.
Lidl is the fastest growing supermarket for the first time since November 2017 in the last 12 weeks.
GRG
Greggs (GRG) profits still on a roll with a boom in its vegan snacks. ‘Grab-and-go’ chain announces exceptional year with 27% rise in pre-tax profits.
BARC
Barclays (BARC) under investor pressure over fossil fuel stance. Jupiter Asset Management to back campaign resolution calling for halt to investment.
SXX
Sirius Minerals (SXX) to be sold after shareholder rebellion fails. Following the £405m sale the UK’s first major deep mine in 40 years now likely to go ahead.
In an emergency move, the US central bank has cut borrowing costs by 50 basis points and warns that the coronavirus “poses evolving risks to economic activity”
DLG
Direct Line Insurance Group (DLG)  hit by coronavirus and flood claims. The FTSE 250 group encouraged by car insurance prices rising at the same pace as payouts.
GRG
Food-to-go retailer Greggs (GRG) says poor weather hits sales. Sausage roll maker enjoys record profits but coronavirus makes 2020 outlook ‘uncertain’.
BARC
Barclays (BARC) acquittals show SFO’s ‘waste and incompetence’. Defence lawyer calls for top-to-bottom review of UK fraud agency.
Amazon battles sharp price rises of coronavirus products. Masks and hand sanitisers sold at 2,000% mark-ups as health crisis widens
Thermo Fisher to buy Qiagen in $11.5bn deal. Dutch company is developing kits to test for novel coronavirus.