Jun 18, 2020
City Bulletin: National Grid warns of £1bn corona hit to cash flow
Covid-19 will cost National Grid, the FTSE 100 group that manages the UK's electricity system, up to £1bn in cash flow by the end of next March, the company said on Thursday. National Grid still expects asset growth of between 5 per cent and 7 per cent a year in the "Near term" and lifted its dividend payment for the year to March 2020 by 2.6 per cent at a time when many groups have cut shareholder payouts altogether. Tesco has struck a deal to sell its Polish business to Denmark's largest retailer Salling Group for £181m. Tesco has been retrenching from its international operations in recent years. A small group of US private equity groups have been keeping busy. JD.com shares already trade in New York on the Nasdaq stock exchange but the group is one of several big Chinese companies to line up a so-called "Homecoming" listing in Hong Kong as regulatory pressure from the Trump administration raises the prospect of forced delistings.
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