A homeless accommodation provider has announced its plans to float on the London Stock Exchange (LSE).
Following its $2tn valuation on 19 August, US tech behemoth Apple is now worth more than the whole FTSE 100 index, which comprises the UK’s 100 largest publicly listed companies. We take a further look at what this means for the technology sector and how Apple is beating the downward lockdown trend.
After the Coronavirus pandemic forced the suspension of the 2019-20 Premier League season in March 2020, all games were stopped. This stoppage, only recently lifted in mid-June, led to massive financial losses for the clubs whose effects experts warn may be long-lasting should similar financial impediments occur in the 2020-21 season.
Struggling high-street retailer New Look has converted £440m of debt to shares in the company in a debt-for equity swap. This is the company’s second debt restructuring since 2019. It has also taken the first step in securing lower rents by renegotiating its leases in a Company Voluntary Agreement (“CVA”).
Severe falls in economic output during the Coronavirus lockdown has caused the UK economy to contract by one-quarter.
Last month, Virgin Atlantic was desperately trying to get creditors to agree to reductions and instalment repayments to avoid running out of money and entering administration. It has emerged that the High Court has approved the company’s £1.2bn rescue package based on evidence that the airline would be bankrupt by the end of September without support.