Headlines from the Proactive UK newsroom.
The FTSE 100 was lower again on a downbeat update from RBS. UK manufacturing figures also revealed factories had their worst month in three decades.
Royal Bank of Scotland ‘s (LON:RBS) profits almost halved in the first quarter of the year as it took impairment losses of £802mln, including £628mln for possible coronavirus bad debts. Profit before tax was £519mln, down 66% on the preceding quarter.
Ryanair has started a restructuring programme that will see 3,000 jobs go, salary cuts of up to 20% and the temporary closures of aircraft bases. The airline expects to operate less than 1% of its usual flying programme in the quarter to June.
Apple Inc’s (NASDAQ:AAPL) earnings fell less than expected in the past quarter as a surge in digital services offset weak iPhone sales. Turnover rose 1% as demand for things such as Apple News rocketed, but there is no guidance going forward.
Fellow tech titan Amazon, meanwhile, stunned investors as its announced US$4bn of spending or the equivalent of a quarter’s profits on coronavirus safety measures for staff and customers. Amazon’s sales soared 26% over the past quarter.
Genedrive (LON:GDR) has completed the last significant manufacturing milestone in the co-development of its coronavirus diagnostics kit. The overall project plan currently remains on track and the company is targeting European regulation in approximately 3 weeks.