Please enter company name or stock symbol

Advanced Search

Tuesday newspaper round-up: Cash access, Parkdean Resorts, Monsoon Accessorize

By Michele Maatouk

Date: Tuesday 02 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Failure by the G20 group of leading developed and developing nations to organise a global Covid-19 recovery plan is a potential death sentence for the world's poor, the former prime minister Gordon Brown has said. Brown, who pushed successfully for coordinated action during the financial crisis of 2008-09, said the lack of G20 action was disgraceful and risked a second wave of infection for rich countries. - Guardian
Vulnerable people risk being unable to access the money they need to pay for goods and services, unless the government acts to support the "fragile" cash system, the consumer group Which? has warned. The coronavirus crisis has accelerated the adoption of contactless and other cashless transactions across the UK and led to sharp drops in ATM use as more people shop online or opt for what they perceive to be safer payment methods. - Guardian

Britain's biggest holiday park operator could run out of money within weeks unless the lockdown is lifted, analysts have warned. Parkdean Resorts is being squeezed by customers demanding refunds for holidays cancelled because of coronavirus, experts at credit agency Moody's said, with all of its 67 sites closed since Mar 23. - Telegraph

Ailing retailer Monsoon Accessorize has warned landlords that they have a week to offer up rent waivers or it will shut down stores. The chain issued the ultimatum in a letter as it scrambles to survive the lockdown. Monsoon said it is trying to determine which - if any - of its 220 stores can be kept open. - Telegraph

The City regulator pledged to "get smarter" about cracking down on investment scams and protecting consumers as it banned a group of Cypriot trading firms that had been using fake celebrity endorsements, including Sir Richard Branson, from operating in Britain. In an interview with The Times, Chris Woolard, interim chief executive of the Financial Conduct Authority, also said he thought the watchdog would have "some painful lessons" to learn from a scandal that erupted last year over unregulated minibonds sold to savers. - The Times