SIG plc (LON: SHI) released its full-year financial results on Friday that reported the company to have swung to a pre-tax loss in 2019. SIG also highlighted lower trading levels as compared to 2018. According to the company, the ongoing Coronavirus pandemic that has so far affected more than a quarter-million people in the United Kingdom and caused over 37,500 deaths, is likely to slash its revenue by £500 million in 2020. Cash generation, profi...

In a statement on Thursday, Nissan Motor (OTCMKTS: NSANF) announced a new plan to reduce its size and focus on efficiency as the Coronavirus pandemic weighed on its profit that resulted in the company’s 1st annual loss in more than a decade. Nissan’s new plan spans over four years and entails reducing its model range and production capacity by roughly 20%. The move is expected to save £2.26 million from the automaker’s fixed costs. Nissan expects...

Abercrombie & Fitch (NYSE: ANF) released its quarterly financial results on Thursday that posted a 34% decline in sales in the first quarter. The company attributed the decline to the Coronavirus pandemic that pushed its countrywide stores into temporarily shutting down. The global retail market has taken a massive hit due to COVID-19 with prominent names like J. Crew pushed into bankruptcy. Shares of the company were reported 6% down in prem...

HP Inc. (NYSE: HPQ) released its quarterly earnings report on Wednesday that posted an 11% decline in its revenue despite significantly higher demand for PC equipment as the Coronavirus pushed the global workforce into relying on work from home arrangements. Shares of the company were reported over 4% down in after-hours trading on Wednesday. At £13.25 per share, HP is roughly 20% down year to date in the stock market. Learn more about why prices...

Lufthansa’s (ETR: LHA) £8.1 billion government package met with turbulence on Wednesday as the airline’s supervisory board called the associated EU’s conditions unacceptable. Earlier in the day, Ryanair CEO had also vowed to appeal against the bailout package that he saw as a threat to fair competition. Shares of the company are currently about 3% down on Thursday. At £8.35 per share, Lufthansa is roughly 45% down year to date in the stock market...

PayPoint (LON: PAY) released its full-year earnings report on Thursday that posted a 5.6% increase in its pre-tax profit to £56.8 million. The figure did not account for exceptional items. The company attributed this increase to its decision of suspending management bonuses due to the ongoing Coronavirus pandemic that resulted in a variable pay benefit of £2.1 million. Excluding variable pay benefit and exceptional items, PayPoint’s pre-tax profi...

Daily Mail and General Trust (LON: DMGT) announced on Thursday that its revenue came in flat in the first half. The company posted a roughly 33% decline in revenue from its consumer media business in April. For May, it estimated a 30% decline in revenue from the media segment. Following the release of its half-year (HY) earnings report, shares of the company were reported 4% down in premarket trading on Thursday. At 708 pence per share, the Londo...

The Coronavirus pandemic is weighing heavily on Italy’s auto industry this year. Many of the domestic automakers have been left seeking financial support from the government to survive the economic blow from COVID-19. Fiat Chrysler Automobiles (BIT: FCA) have made headlines multiple times in recent weeks for its ongoing negotiations with lenders and government authorities as the carmaker requested access to £5.65 billion state-backed loan. Source...

Volkswagen (ETR: VOW) is in the final phase of negotiation to close its investment deals with electric vehicle (EV) companies in China. The investments dubbed its largest are aimed at expanding VW’s footprint in the world’s largest EV market. The Chinese government eased its rules and regulations for ownership in 2018. Volkswagen posted a more than 2% intraday gain on Wednesday. At £114.56 per share, VW is over 20% down year to date in the stock...

Sources informed on Wednesday that Amazon (NASDAQ: AMZN) is planning on purchasing Zoox Inc. The two companies are currently holding advanced talks to finalise the agreement. Zoox is a California-based company that focuses on building technology for self-driving vehicles. The acquisition will expand Amazon’s footprint in the sector of autonomous cars.   Amazon is currently posting a 1% intraday decline on Wednesday. At £1,939 per share, the...

In a statement on Wednesday, Papa John’s (NASDAQ: PZZA) said that its estimated North American same-store sales climbed 33.5% in May. Internationally, it reported a 7% estimated increase in comparable sales as it committed to meeting higher demand amidst the ongoing pandemic. Shares of the company were reported about 7% up in premarket trading on Wednesday. In April, Papa John’s had announced a 26.9% increase in its preliminary estimated North Am...

In its Q1 trading update on Wednesday, Provident Financial (LON: PFG) announced business volumes to have declined in April ascribed to tighter underwriting rules. The company, however, expressed confidence in early signs of recovery that it saw in May. The UK-based company is currently 10% up on Wednesday. At 201 pence per share, Provident is presently about 55% down year to date in the stock market. Learn more about volatility in the stock marke...

Germany’s flagship air carrier, Lufthansa (ETR: LHA) recently struck an £8.05 billion bailout package with the government. The transaction is likely to complete in June. On Tuesday, however, Ryanair (LON: RYA) condemned the aid package calling it a threat to fair competition.   Shares of the company are currently less than 2% up on Wednesday. At £10.85 per share, Ryanair is roughly 20% down year to date in the stock market. Learn more about...

EDF (EPA: EDF) announced on Wednesday that it has filed an application to build Sizewell C nuclear plant in the United Kingdom. The company told Britain’s regulators that it will cost £17 billion to £18 billion in total to build the facility in the east of England. As per sources, the application that is commonly referred to as a development consent order was originally expected to be submitted to the UK’s Planning Inspectorate in March. It was,...

The UK’s blue-chip FTSE 100 index posted a 1.2% increase on Tuesday as Prime Minister Boris Johnson announced further easing in Coronavirus restrictions that will allow more retailers to reopen stores. The British government also said that it plans on slowly easing restrictions on tourism that fuelled a wave of celebration in travel stocks. The blue-chip index opened at 5993.28 on Tuesday and closed the regular session on 6,069.66 after hitting 6...

In a statement on Tuesday, Metro Bank (LON: MTRO) reported a significant increase in bad loans this year ascribed to the Coronavirus pandemic that has fuelled novel financial struggles for clients. In the annual investor meeting, the British lender said that impairments will be spelt in terms of the magnitude of COVID-19 impact and for how long does it weigh on the economy. As per the bank, transaction volumes have tanked sharply in recent months...

Novavax (NASDAQ: NVAX) said on Tuesday that it began human trials of its candidate Coronavirus vaccine in Australia. The company said that initial results of the human trial are expected to be released in July 2020. If proven effective, the trials will be expanded to the U.S. According to research chief, Dr Gregory Glenn of Novavax, the 1st phase trial will include 131 volunteers and will be targeted at studying the safety and effectiveness of th...

Merck & Co Inc. (NYSE: MRK) announced on Tuesday that it plans on buying Themis Bioscience. The Austrian vaccine manufacturer proposed a drug candidate earlier this year as the potential cure for COVID-19. The candidate vaccine is now approaching human trials. Merck also said that it will be collaborating with IAVI. The non-profit vaccine researcher is working on developing 2 other vaccines for COVID-19.    Merck’s commitment toward...

JDE Peet’s is scheduled to go public in June. On Tuesday, the company announced an indicative price range for its IPO that valued it in the range of £13.36 billion to £14.35 billion. JDE currently owns multiple brands including Jacobs, Douwe Egberts, and Peet’s Coffee and is among a handful of large companies that are planning an initial public offering amidst the Coronavirus pandemic that wreaked havoc on global businesses in March. The company...

Aryzta (DUB: YZA) blamed the Coronavirus pandemic on Tuesday for weighing on prospects and disrupting market conditions in mid-March that resulted in a sharp decline in the company’s revenue in April. Following the announcement, Aryzta was reported about 10% up in premarket trading on Tuesday. The company printed another 10% increase on market open. At 47 pence per share, Aryzta is roughly 50% down year to date in the stock market. Learn more abo...

As the Coronavirus pandemic weighed on global businesses, several companies resorted to increasing digitalisation to cushion the associated economic blow. In its statement on Tuesday, Kainos Group (LON: KNOS) highlighted its commitment to enhanced digitalisation worldwide. The company also said that digitalisation benefits are likely to persist even after the health crisis subsides. COVID-19 has so far infected more than a quarter-million million...

The Coronavirus pandemic has weighed heavily on the global auto industry as it pushed factories into temporary closure and wiped demand. Amidst the crisis, Sky News said on Saturday that Jaguar Land Rover is negotiating with the UK government seeking access to over £1 billion in state funding. Sky News cited Jaguar’s close source in its report as it announced the company to have filed a request for a loan with the United Kingdom’s Department for...

Air Canada (TSE: AC) was recently reported to have shown interest in acquiring Transat AT Inc. for £425 million. Launching a probe into the potential agreement on Monday, EU antitrust regulator warned that the buyout might result in reduced choices and increased prices for people travelling between Canada and Europe.   Following the announcement, Air Canada is currently posting a 2% intraday loss in the stock market versus a much broader 10%...

In its announcement on Friday, Hertz Global Holdings Inc. (NYSE: HTZ) said it filed for bankruptcy as the Coronavirus pandemic weighed on demand and it failed to receive the required financial support from its creditors.   Having operated for over a century, the car rental company filed for Chapter 11 protection in a Delaware court. It did not include its international operations in Australia, Europe, and New Zealand in its U.S. claim. &nbsp...

Sources informed on Monday that management of the Europe’s 2nd largest air carrier, Lufthansa (ETR: LHA), and the German government have agreed on an £8.06 billion bailout. The preliminary deal, sources added, is targeted at helping the airline cushion the economic blow from the Coronavirus pandemic that has brought the global air travel to a near halt. Lufthansa said last week that hundreds of its aeroplanes will remain grounded until 2022...