InterContinental Hotels Group (IHG) will save around $150m (£126m) by scrapping its 85.9¢ final dividend as it battles a collapse in demand for hotel rooms following the outbreak of coronavirus. It stands to save as much as $150m more through cost-cutting measures that include “substantial decreases” in executive salaries and incentives.
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OPINION
Investment’s reputation problem
Healthy stock markets are an essential part of a healthy economy
John Hughman