Edition:
United Kingdom

Yadarisa Shabong

SIG to take on CD&R as investor via £150 million equity raising

29 May 2020

Building materials supplier SIG Plc on Friday announced plans to raise 150 million pounds ($185 million) in new capital as it reported an annual loss and warned of a revenue hit this year.

British Land defers rents as losses leap above 1 billion pounds

27 May 2020

Mall and office owner British Land has conducted a series of rent deferrals and cancellations to help the company and its tenants ride out the coronavirus crisis, it said after annual losses soared to 1.1 billion pounds ($1.36 billion).

Manchester United revenues suffer as players sidelined

21 May 2020

Manchester United withdrew its annual financial targets and estimated it lost around 23 million pounds in revenue in the third quarter as the coronavirus crisis brought the Premier League and European soccer competitions to a halt. | Video

Compass raises 2 billion pounds as pace of recovery in question

19 May 2020

Compass Group raised 2 billion pounds of new capital on Tuesday at a hefty discount to its market value, seeking to reduce debt as the coronavirus crisis threatens to force a scaling back of the world's largest catering company.

Compass may raise more funds as coronavirus crisis roils catering industry

18 May 2020

Compass Group may announce plans to raise more funds on Wednesday as the world's largest caterer seeks to ride out the coronavirus crisis with an eye on potential small acquisitions and growing non-core businesses like cleaning, analysts say.

Lakeside owner Intu seeks debt standstills to avoid default

18 May 2020

Struggling mall operator Intu Properties Plc warned on Monday it would likely breach its debt commitments at the end of June due to falling rental payments and will seek standstill agreements with creditors to ride out the coronavirus crisis.

Royal Mail CEO Back quits as board promises to spur change

15 May 2020

Royal Mail Chief Executive Rico Back stood down on Friday after two years in charge marked by battles with unions over a proposed 1.8 billion pound restructuring plan for the former UK postal monopoly.

Rolls-Royce signals job cuts as lowers engine output forecast

07 May 2020

British aero-engine maker Rolls-Royce signalled on Thursday it expects to cut some of its workforce, after reports that it was considering cutting up to 8,000 jobs to weather a global aerospace sector slump. | Video

UPDATE 2-National Express raises $290 million in equity to ride out pandemic

06 May 2020

May 6 Train and bus company National Express Group raised about 235 million pounds ($290.93 million) in new equity on Wednesday to help it ride out the COVID-19 pandemic.

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