peter_IFAMAG reads Twitter so you don’t have to.
Rolls Royce is to lay off 9000 employees, totalling a fifth of their work force. Also in trouble are Marks and Spencers as they reveal huge losses. The impact of Coronavirus is having an impact on European inflation rates, today the ONS announced UK inflation slumps to just 0.3%.
With a deluge of business news today check out something different – this is a visualisation of the top performing investment funds of the past 25 years.
— Investment Week (@InvestmentWeek) May 20, 2020
The news of Rolls Royce lay offs came earlier today. The company is reassessing their situation following the impact of coronavirus on the aerospace sector, and the national economy as a whole.
Just in: Rolls-Royce will cut nearly a fifth of its workforce, its biggest single reduction in 30 years, as it prepares for a prolonged demand hit to the aviation industry https://t.co/iXe8hlpaiy
— Financial Times (@FinancialTimes) May 20, 2020
A PR disaster this morning as Rolls Royce boss is seen to be smiling whilst announcing job losses.
— Daniel Maguire (@DanielMaguireFC) May 20, 2020
Marks and Spencers announced a giant hit to business this year, check this thread out for the full picture.
Some snippets from @marksandspencer results. Like everyone else, can’t forecast year ahead. Base case scenario is a £2.1bn hit to sales over the year. Already able to mitigate that by £1bn through cost savings, no dividend pay out and biz rates holiday.
— Emma Simpson (@BBCEmmaSimpson) May 20, 2020
UK inflation rates fall to lowest levels since 2016.
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