Tag: loss

Coronavirus: Furlough’s final furlong brings job loss fears

Douglas FraserBusiness/economy editor, Scotland Related Topics Coronavirus pandemic image copyrightGetty Images The furlough scheme has been a success but, with six weeks to run, pressure is building for either an extension or new forms of jobs and income support. The Scottish government has costed an eight-month extension of the scheme and says it could avoid unemployment for more than 61,000… Read more →

Coronavirus: Rolls-Royce reports record loss as travel slumps

Image copyright Getty Images Engineering giant Rolls-Royce, which makes jet engines, has reported record losses after the coronavirus pandemic caused demand for air travel to slump. The firm reported a pre-tax loss of £5.4bn for the first half of this year. Rolls-Royce is in the middle of the biggest restructuring of its business in its history. On Wednesday, it confirmed… Read more →

NatWest slumps to loss on bad loan provision

Image copyright Reuters Image caption Chief executive Alison Rose was appointed in 2019 Banking giant NatWest Group has put aside another £2.1bn in case more people and firms default on loans because of the pandemic. That meant it reported a £770m loss for the first half of 2020. Last year it made a £2.7bn profit. Earlier this month, chief executive… Read more →

Coronavirus: Nissan shares fall 10% after record loss warning

Image copyright Getty Images Nissan’s shares have plunged by 10% in Tokyo trading after warning that it would see a record annual loss. Japan’s second largest carmaker said it expects a $4.5bn (£3.5bn) operating loss this year as the coronavirus hinders its turnaround efforts. The worse-than-expected forecast came as the company predicted its sales will be the lowest in a… Read more →

Debenhams to close more stores with the loss of 300 jobs

Image copyright Getty Images Debenhams is closing another three stores as the retailer grapples with falling High Street sales made worse by the coronavirus lockdown. Stores at Milton Keynes, Watford and the Metrocentre, Gateshead, will not re-open after lockdown restrictions are eased, meaning about 300 job losses. Debenhams said it had failed to agree new rental terms with landlord Intu,… Read more →