Hope for German economy as factory orders beat predictions November 6, 2019 German industrial orders picked up by more than expected in September, official data has shown, providing a glimmer of home for the country’s weak economy. Read more: Eurozone ‘remains close to stagnation’ amid manufacturing slump Europe’s biggest economy has had a torrid 2019, thanks in large part to a slump in global demand hurting its [...]
Tory chairman James Cleverly defends ‘fake news’ clip of Labour’s Brexit strategy November 6, 2019 Tory chairman James Cleverly has denied that a clip of Labour’s shadow Brexit secretary was edited to suggest the party has “no plan” for leaving the EU. James Cleverly defended the use of the clip of Sir Keir Starmer’s appearance on Good Morning Britain, saying it was not “doctored”. Read more: Most Brits are left [...]
BMW beats estimates with profit rise November 6, 2019 BMW has reported a sharp rise in earnings, trumping analyst estimates following one-off accountancy changes and a rise in SUV sales. The German luxury car manufacturer posted earnings before interest and taxes (Ebit) of €2.29bn (£1.97bn) during the last quarter, jumping 33 per cent compared with the same period last year. Read more: A look [...]
Mothercare shares surge after UK business enters administration November 6, 2019 Shares in Mothercare have soared this morning after the maternity and baby retailer’s UK business entered administration. Mothercare’s share price surged more than 36 per cent this morning, to 13p, after management firmed up administration plans and revealed further details on the company’s turnaround proposals. Read more: Mothercare shuts up shop in UK Last night [...]
Hong Kong bourse posts profit drop amid civil unrest and trade war November 6, 2019 Hong Kong’s bourse has reported a fall in profit during the last quarter, as months of political unrest took its toll on the stock exchange operator. Profit at the Hong Kong Exchanges and Clearing (HKEX) hit HK$2.2bn ($217.8m) in the three months to September, tumbling 9.5 per cent compared to the same period last year. [...]
Vision Fund’s Wework splurge drags Softbank to $6.4bn loss November 6, 2019 Softbank’s Vision Fund’s soured bets on tech prospects like Uber and Wework saw the fund lose $8.9bn and drag its parent company to its first quarterly loss in 14 years today. Softbank’s high profile splurge on Wework saw the company fall to a $6.4bn quarterly loss in results revealed today. Read more: Wework hits the [...]
Norwegian Air slumps after third share sale November 6, 2019 Shares in Norwegian Air fell more than nine per cent this morning after the struggling airline last night launched its third share sale in two years and a bond issue. The company raised 2.5bn kr (£211.5m) to meet its cash needs through 2020 after selling 27.25m new shares at 40 kr per share. Read more: [...]
Boris Johnson compares Jeremy Corbyn to Soviet dictator Joseph Stalin November 6, 2019 Prime Minister Boris Johnson yesterday compared Labour leader Jeremy Corbyn to former Soviet dictator Joseph Stalin. Johnson wrote that Corbyn’s attack on a group of billionaires – including retail magnate Mike Ashley and hedge fund manager Crispin Odey – was reminiscent of Stalin’s brutal collectivisation campaign in the 1930s which led to an estimated half [...]
Cybersecurity firm Sophos posts loss ahead of £3bn sale November 6, 2019 Cybersecurity firm Sophos today posted a loss for the first half of the year, blaming restructuring and legal costs. The UK listed firm is set to be taken private after accepting a £3bn takeover bid from US private equity firm Thoma Bravo last month. It today announced a loss before tax of $1.5m (£1.16m) for [...]
Marks & Spencer profit knocked lower by poor clothing sales November 6, 2019 Weak clothing and home sales knocked profit 17 per cent lower at Marks & Spencer in its latest half-year, it revealed today. But the high street chain’s share price led the FTSE risers, climbing up 5.3 per cent to 192.05p, as investors felt it could have been a lot worse as boss Steve Rowe said [...]