BUSINESS LIVE: Taylor Wimpey sees rise in bookings; Bentley to cut 1,000 jobs; Retail sales sank 18% last month
Taylor Wimpey says it has seen a surge in interest in buying homes since it brought its sales centres and show homes in England back on line. It also said it has seen fewer cancellations in Britain's 9-week lockdown than in the same period last year.
Up to 1,000 jobs are to go from carmaker Bentley amid the ongoing Covid-19 outbreak, according to the BBC. Voluntary redundancies are to be offered to about a quarter of Bentley’s staff and a formal statement is expected from the firm later today.
Office-space provider Workspace Group said its pre-tax profit nearly halved last year, falling 47 per cent to £72.5million. The WeWork rival also said it expected more trouble in the months ahead due to a drop in new business since late March.
British retailers saw sales plunge by nearly a fifth in May following the introduction of the government's coronavirus lockdown measures. The BDO monthly High Street Sales Tracker (HSST) found total like-for-like sales declined by 18.3 per cent in May.
Europe got back on the horse on Friday'
Connor Campbell, financial analyst at Spreadex, comments on the markets this morning:
Europe got back on the horse on Friday, resuming a June rally that paused momentarily yesterday ahead of this afternoon’s likely shocking nonfarm jobs report.
Despite consumer confidence in the UK hitting its lowest level in a decade – the Gfk reading fell to -36 – the FTSE added another 60 points after the bell, pushing it past 6400 and back to its recent 3-month highs.
The Eurozone indices were even more energetic. The DAX climbed 220 points to 12650, hitting levels last seen at the end of February, while the CAC struck 5100 following a 1.8% increase. This is likely the region feeling the effects of Thursday’s ECB €600 billion expansion of its Pandemic Emergency Purchase Programme, news that initially mainly benefited the euro.
Bentley announces 1,000 job cuts in bid to save £10m-a-year
Up to 1,000 jobs will be cut from luxury car-maker Bentley as it faces a tough market beset by the coronavirus pandemic, it has been reported.
Voluntary redundancies are to be offered to about a quarter of Bentley’s staff and a formal statement is expected from the firm later on Friday, according to the BBC.
Voluntary redundancies are to be offered to about a quarter of Bentley's staff and a formal statement is expected from the firm later on Friday.
US billionaires have become $565bn RICHER during the pandemic
Over the past three months US billionaires have become $565billion richer, even amid the coronavirus crisis.
As COVID-19 ravaged the nation, shut down businesses, and led nearly 43million Americans to file for initial unemployment benefits, the rich have still managed to deepen their pockets.
Over the past three months US billionaires have become $565billion richer, even amid the coronavirus crisis where 43million Americans have filed for unemployment.
The FTSE 100 is up 0.9% this morning to 6,397
Meanwhile, the FTSE 250 is up 1.2% to 18,035
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