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B&M European Value Retail to temporarily close 49 UK stores, furlough staff
Discount retailer B&M European Value Retail said on Wednesday that it will temporarily close 49 of its UK stores "in light of current trading conditions" and that staff at the affected stores will be furloughed.
BP warns on profits; Writes down $1bn, cuts capex, shale output
Oil giant BP said it would write down around $1bn and cut capital expenditure in the first quarter as it warned of a profit hit from the slump in demand as countries implemented measures to address the Covid-19 pandemic.
US pre-open: Futures point to more losses as US coronavirus deaths top 4,000
US futures were pointing to another dour session on Wednesday, following on from the worst first quarter in history for the Dow and S&P 500.
Sports Direct said to be cutting executives' pay amid Covid-19
Frasers Group, the owner of Sports Direct, will reportedly restrict the salaries of its top executives to a maximum of £40,000 as it looks to guarantee March and April salaries for more than 20,000 employees.
London midday: Stocks fall further after manufacturing data; banks slide
London stocks had fallen further into the red by midday on Wednesday after the release of weak UK manufacturing figures and with banks under pressure as they were pressed to cancel their dividends to help weather the coronavirus pandemic.
RBC upgrades IHG in 'good time' to buy hotels
Royal Bank of Canada upgraded InterContinental Hotels (IHG) to 'outperform' and said now looks a good time to buy hotels.
Caledonia Mining defers quarterly dividend decision amid Covid pandemic
Caledonia Mining Corporation announced on Wednesday that, due to the uncertain business environment around the Covid-19 coronavirus pandemic, its board had decided to defer its approval of the second quarterly dividend for 2020.
Sound Energy looking to extend Tendrara gas sale negotiations
Sound Energy updated the market on the Tendrara Gas Sales Agreement memorandum of understanding on Wednesday, confirming that it was seeking an extension to negotiations.
K3 Business Tech raises £6m, winds up UK dynamics unit
K3 Business Technology Group announced on Wednesday that it has secured additional cash funding of £6m by way of loans from two major shareholders and Barclays Bank.
Asia report: Japan leads stocks lower amid poor manufacturing data
Most markets in Asia finished weaker on Wednesday, led lower by equities in Tokyo, as fresh manufacturing data there put a dent in sentiment amid the Covid-19 coronavirus pandemic.
Spire agrees covenant waiver with lenders, pulls dividend
Spire Healthcare has opted to pull dividend payments amid the Covid-19 outbreak, despite its lenders agreeing to waiver covenant testing.
UK manufacturing output falls at fastest rate in 8 years
UK manufacturing output fell in March at its fastest rate in eight years, while employment declined at the fastest rate in more than a decade as the coronavirus outbreak and efforts to slow its spread took their toll, according to data released on Wednesday.
Primary Health Properties maintains dividend policy as it works on pipeline
Primary Health Properties updated the market on Wednesday, reporting that rental collection remained “robust”, with 79% of the first quarter rent received by 1 March.
China manufacturing stabilises in March
Chinese manufacturing stabilised in March after a record plunge caused by the coronavirus crisis, a survey showed.
International Personal Finance pulls dividend due to Covid-19
Doorstep lender International Personal Finance pulled its proposed annual final dividend payment of 7. 8p per share on Wednesday as it said collections had been "significantly adversely affected" by government debt repayment moratoriums at the tail end of March.
Big Yellow secures £35m credit facility with Aviva
Big Yellow has secured a new debt facility with Aviva, its long-term lender, the self-storage firm said on Wednesday.
Eurozone manufacturing plunges as Covid-19 takes toll
Manufacturing output in the eurozone shrank at the fastest pace since the 2009 global recession as the coronavirus crisis forced factories to close.
BAT hails breakthrough with potential Covid-19 vaccine
British American Tobacco said on Wednesday that it has made a "significant breakthrough" with its tobacco plant technology platform in the development of a potential vaccine for Covid-19.
Finablr makes Bhairav Trivedi CEO as CFO quits
Finablr appointed Bhairav Trivedi as its chief executive and announced the departure of its finance chief in the latest upheaval at the embattled owner of Travelex.
SMEs face collapse as they struggle to access govt loan scheme - report
Up to 1m small businesses could be forced to close as they struggle to obtain the cash to survive lockdown, despite the package of measures announced by government, according to research released on Wednesday.