FTSE 100 close: Credit Suisse suffers £55bn outflow as BP and Shell claw back losses April 24, 2023 London’s FTSE 100 kicked off a new week in subdued style today, dragged lower by big industrial firms extending last week’s poor performance. The capital’s premier index slipped 0.02 per cent to 7,912.20 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 0.22 per [...]
Bitcoin could top £80,000 by next year, Standard Chartered says April 24, 2023 Bitcoin could surge to $100,000 by the end of next year as central bankers ease interest rates and a so-called “crypto winter” thaws, according to analysts Standard Chartered.
Regulators demand LDI strategy ‘buffers’ to shore up funds following mini budget market meltdown April 24, 2023 Regulators are pressing managers of debt-fuelled liability driven investment (LDI) strategies to boost their access to quick cash and review the make up of their clients after the market was plunged into crisis by Liz Truss’s disastrous mini-budget last year.
UK recession wobble sends FTSE profit warnings back to Covid-19 levels April 24, 2023 The UK’s flirtation with a recession over the last year or so has prompted a wave of the country’s top companies to warn shareholders to expect profits to miss forecasts, a new report out today shows. Profit warnings among UK-listed firms climbed to 75 in the first three months of this year, the highest level [...]
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]
Bed Bath & Beyond files for bankruptcy protection, begins liquidation sale April 23, 2023 Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat, and has begun a liquidation sale. The home goods retailer, which shot to popularity in the 1990s as a go-to shopping destination for couples making wedding registries and planning for new babies, [...]
UK borrowing tipped to have jumped to £23bn in March but Hunt and Sunak are on course to hit OBR forecasts April 23, 2023 Britain is tipped to have borrowed nearly £23bn last month to help pay for capping energy bills at £2,500, according to City analysts’ consensus forecast. Fresh numbers out from the Office for National Statistics on Tuesday are expected to show the gap between what the government generates in revenue from taxes and spends on public [...]
FTSE 100 live: Flat morning in London as miners and gloomy retail sales offset consumer gains April 21, 2023 The FTSE 100 struggled to get off the mark in early trading on Friday as losses for industrial miners and gloomy retail sales data offset gains for some consumer and healthcare stocks.
Bidding war? Network International receives fresh £2.13bn takeover swoop from Brookfield April 21, 2023 Payments provider Network International said private equity firm Brookfield Asset Management had swooped in with a bid to buy the firm today for about £2.13bn today, just days after an offer from private equity firms CVC Capital and Francisco Partners.
UK economy in ‘early stages of recovery’ as families shrug off inflation and interest rate hikes April 21, 2023 Britain’s economy could be in the early stages of a recovery, with consumers holding up pretty well under the pressure of high inflation and interest rate increases, a closely watched survey out today indicates. Families’ outlook on how well the economy will perform over the coming year is improving, while confidence in their own personal [...]
