Three Times Square, one of the office-tower quartet that brought commercial rebirth to the Crossroads of the World, opened 20 years ago sporting a handsome design by Fox & Fowle. Now the 30-story tower’s principal owner, the Rudin family, has tapped the same architects, today known as FXCollaborative, to gently tweak the trophy for the post-pandemic future. The estimated $25 million project comes as 3 TS faces the departures of several large tenants over the next 12 months that will leave its entire 850,000 square feet to be refilled. The tower opened in 2001 as the North American headquarters of Reuters Group PLC. The company now known as Thomson Reuters still has some space in the building and is also a joint-venture ownership partner with Rudin, but is reportedly considering a sale of its stake. Exits by several tenants and subtenants over the next 12 months, including Bank of Montreal and FTI Consulting, challenged Rudin to lure new tenants at a time when physical office occupancy citywide is a mere 15 percent and when Times Square is particularly desolate. But Rudin decided that the tower’s strengths — including column-free 28,000- to 35,000-square-foot-floor plates, private outdoor terraces and state-of-the-art air-filtration
WM Morrison says its pre-tax profit took a hit in H1 due to COVID-19.
The British company reports £8.73 billion of revenue in the fiscal H1.
Morrisons hired 45 thousand new workers in the United Kingdom.
WM Morrison Supermarkets plc (LON: MRW) said on Thursday that its pre-tax profit came in lower in the first six months of the current fiscal year on an annualised basis. The company attributed the decline to the Coronavirus pandemic that has so far infected more than 358 thousand people in the United Kingdom and caused over 41 thousand deaths.
Shares of the company closed the regular session about 3% down on Thursday. At 186 pence per share, WM Morrison is now about 15% down year to date in the stock market after recovering from a low of 164 pence per share in March when the impact of COVID-19 was at its peak. Confused about choosing a reliable stockbroker to trade online? Here’s a comparison of a top few to make selection easier for you.
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Morrisons reports £8.73 billion of revenue in the fiscal H1
The COVID-19 crisis, the company added, increased costs in the fiscal first half and consequently resulted in lower revenue. In the first week of January this year, Morrisons had reported worst Christmas sales since 2014.
At £145 million, Britain’s 4th largest chain of supermarket said its pre-tax profit in the first half was significantly lower than £202 million in the same period last year. Extra costs related to the pandemic, as per Morrisons, were valued at £155 million in the six months that concluded on August 2nd.
In terms of revenue, the Bradford-based company recorded £8.73 billion in H1 versus a higher £8.83 billion in the comparable quarter of last year. The decline in revenue, Morrisons said, was primarily attributed to a sharp decline in fuel demand in recent months due to the Coronavirus pandemic.
Morrisons hired 45 thousand new workers in the United Kingdom
Excluding fuel and value added tax (VAT), Morrisons’ first-half sales on a comparable basis saw an 8.7% decline versus the year-ago figure. In the second quarter, however, the supermarket chain registered a 12% growth in this metric.
Morrisons’ board declared 2.04 pence per share of interim dividend on Thursday. In the first six months of the previous year, its interim dividend was announced at 1.93 pence per share. Morrisons revealed earlier this week that it had hired 45 thousand new workers since COVID-19 in the UK.
At the time of writing, WM Morrison Supermarkets plc has a market cap of £4.48 billion and has a price to earnings ratio of 12.87.
Coinbase snagged a reference price of $250 a share ahead of its watershed stock-market debut on Wednesday. The price set by the Nasdaq stock exchange would give the major cryptocurrency exchange a valuation of about $65 billion, according to reports — roughly eight times the $8 billion price tag it received in its last private fundraising round in 2018. It would also put Coinbase on par with New York Stock Exchange parent company Intercontinental Exchange, which was worth about $67 billion as of Tuesday’s closing bell. Coinbase’s arrival on the public market is considered a major milestone for cryptocurrency’s push into the mainstream financial world. The company’s direct listing — in which a firm sells existing shares rather than issuing new ones through a traditional initial public offering — followed moves by corporate giants like Mastercard, Tesla, and PayPal to embrace cryptocurrency as an investment asset and payment method. Brian Armstrong is the CEO of Coinbase.Matt Winkelmeyer/Getty Images for Vanity Fair Coinbase’s valuation could surge even further once it actually starts trading on the Nasdaq, with some Wall Street analysts predicting it will hit $100 billion based on what its shares have gone for on the private market. Fred Ehrsam