BRITAIN’S top equity index recovered yesterday and ended slightly higher, tracking a broad rally in US stocks following some strong earnings results, although a slump in Tesco and Unilever capped gains.
Shares in Microsoft went up by 2.1 per cent to $45 in after-hours trading this evening, after the multinational software giant reported a strong performance across its commercial and consumer businesses for the third quarter.
Even among the most experienced investors, a thoughtfully placed information pyramid and the carefully timed disappearance of a thought bubble can work wonders in convincing them that a company is worth getting involved in.
Credit agencies Fitch and Moody's have downgraded Tesco's rating – with the latter saying it could be dropped further to junk status depending on the outcome of the ongoing investigation into its accounting practices.
Shares in Tesco closed down 6.6 per cent in early afternoon trading, after the supermarket posted first-half results showing statutory profit before tax, which includes one-off items, collapsed by 91.9 per cent to £122m in the 26 weeks ended 23 Au
Has Tesco hit rock-bottom? The supermarket's chairman, Sir Richard Broadbent, announced his departure this morning on the back of first-half results showing the profit "overestimation" it had originally thought £250m, but £263m.
It’s still almost a year away, but anticipation for the 2015 Rugby World Cup is already reaching fever pitch.
The clamour for tickets has hit record levels, with demand exceeding supply for 23 of the 48 games.
It’s another dark day for Tesco.
The supermarket's estimated £250m profit black hole was even larger than expected at £263m, £70m of which came prior to the period it initially identified as problematic.
Fashion sales have hampered the wider retail sector in September, with warm weather driving sales down 4.1 per cent year-on-year.
Month-on-month that figure was even worse: sales dropped 7.8 per cent between August and September.
Wanted: Heavyweight to lead a City institution. Must be good with numbers and new people. Retail knowledge preferred. Must be willing to have difficult conversations, understand customers and be confident in implementing new strategies.
The Conservative party's Ukip woes continue, with a new ComRes survey showing Nigel Farage's eurosceptic party is set to win the Rochester by-election triggered by the defection of Tory MP Mark Reckless.
Pharma giant GlaxoSmithKline (GSK) is considering floating its HIV drugs business in a move that would see Viiv Healthcare among the top 40 companies in the FTSE 100 with a market valuation of up to £17bn.
FITBUG, a little-known Aim-listed firm that makes wearable fitness trackers, saw its shares rocket more than 350 per cent yesterday, after revealing that Sainsbury’s and a leading US retail chain would begin stocking its products next month.
JAILING, fining and firing more individual bankers is a better way to punish bad behaviour than hitting banks with crippling fines which could risk their stability, Bank of England regulators told MPs yesterday.
LLOYDS Bank is planning to cut another 9,000 jobs, on top of the 15,000 the lender has chopped since 2011, it emerged last night.
The new round of cost cutting will hit another 10 per cent of the workforce, according to Sky News.
EX-CITY regulator the Financial Services Authority (FSA) should be probed as part of the investigation into the near-collapse of the Co-op Bank and the failed attempt to sell it TSB, MPs said in a report today.
HSBC and First Trust Bank broke competition rules by wrongly indicating that small businesses had to have an account with them if they wanted a loan, the Competition and Markets Authority (CMA) said yesterday.
SWEDISH lender Handelsbanken grew its loan book to £13.3bn in the third quarter, its financial results showed yesterday.
The group is on track to open its 180th branch in the UK, as it rolls out its localised model of lending.