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LONDON BRIEFING: IWG warns on prolonged impact of virus restrictions
Mon, 7th Jun 2021 08:13
(Alliance News) - A leading provider of office workspace in the UK on Monday issued a profit warning, as continue lockdown restrictions and government advice to work from home drag on deeper into 2021.
IWG guided to full-year earnings well below 2020 due to a slower-than-expected recovery.
The flexible office provider said it has continued to see strong recovery in some of its markets since updating on first quarter activity, but the overall improvement across the group has been less than expected due to prolonged Covid-19 fallout, including lockdown restrictions and the emergence of new variants.
LONDON BRIEFING: Provident Financial to exit home credit entirely
Mon, 10th May 2021 08:07
(Alliance News) - Subprime lender Provident Financial on Monday confirmed it plans to get out of the home credit business one way or another, placing the division into run-off and considering a sale.
Bradford-based Provident earlier this month had said its review of the business was nearing completion, following press reports that it would wind-up both the home credit unit and online lending arm Satsuma to focus on its credit card business, Vanquis Bank, and its car finance operation, Moneybarn.
Provident on Monday said it has decided to withdraw from the home credit market entirely and is considering a sale of the Consumer Credit Division, which includes Satsuma.