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Friday newspaper round-up: Arcadia, retailers, P&O Ferries
The chancellor, Rishi Sunak, has banned banks from requesting personal guarantees for emergency loans to small businesses amid growing government concern that lenders have been slow in meeting demands for help. With the rapid increase in the number of universal credit claims suggesting many small companies have already collapsed since the economy was locked down, Sunak combined a new package of support for business with a warning to banks that they had to move more quickly.
BAE withdraws dividend as Covid-19 impact starts
BAE Systems has withdrawn its dividend and put financial guidance on hold after the Covid-19 crisis began to cause major disruptions to its business.
AB Foods CEO, FD take voluntary 50% pay cut
Primark owner Associated British Foods said its chief executive and finance director had volunteered to take a 50% pay cut in response to the coronavirus pandemic.
US close: Equities rise even after miserable jobless claims
Wall Street equities finished in positive territory on Thursday, as oil prices rebounded and investors thumbed through a miserable jobless claims report.