FTSE 100 Live: BT-Verizon deal; Stocks wobble as US and Iran renew talks; Burnham lays out plans for government
Former Bank governor Carney called in to head Bloomberg board August 22, 2023 Bloomberg has called in former Bank of England governor Mark Carney to chair a new board of directors in a slew of senior promotions.
Under-offer Lookers nets £46m profit amid tough economic headwinds August 22, 2023 Car dealership Lookers, which looks set to be swiped from London markets in a £504m take-private deal, reported resilient trading in the first half against significant macroeconomic headwinds. The UK’s biggest car seller reached an agreement late last month with Global Auto Holdings – an entity linked to the Canadian Alpha Auto Group – to [...]
Marex profit leaps after ED&F acquisition as expansion plans reap rewards August 22, 2023 London-based commodities broker Marex Group more than doubled its pretax profit in the first half of the year as it reaped the rewards from its expansion plans. Total trades completed climbed 166 per cent to 59m while the number of contracts cleared tripled to 312m. This helped revenue climb 86 per cent in the period [...]
Cake Box: Non-executive chair to step down as like-for-like sales sweeten August 22, 2023 Cake Box, the London-listed confectionery chain, has announced the departure of its non-executive chairman Nilesh Sachdev who will step down in November. Sachdev, who is also chair at His Majesty’s Land Registry, is leaving the cream cake maker after five years in the role. The boardroom veteran has helped guide the company since it first [...]
Cost of living crisis: 63 per cent of Brits now shop at discount grocery stores August 22, 2023 More than half of shoppers now shop at discount grocery stores as Brits continue to seek out bargains amid the cost of living crisis. According to new data released by NIQ, in the last four weeks some 63 per cent of the public shopped at value chains such as Aldi, B&M and Poundland, with over [...]
ARM muscles up for bumper IPO with $70bn valuation and 28 rostered banks August 22, 2023 SoftBank Group Corp’s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year. Arm’s stock market launch is expected to bring back to life a lackluster IPO [...]
Policy must catch up with investment demand, says Wood Group boss August 22, 2023 Wood Group has raised its trading expectations in its half-year update to investors, predicting higher pre-tax profits.
Zoom: Share bump after pumping up full year guidance August 22, 2023 Pandemic darling Zoom beat expectations and raised full year guidance in its second quarter as it remains hopeful in its long-term strategy - although customer growth is sluggish.
BHP boss bullish over demand in China as Aussie miner’s profits tumble August 22, 2023 Miner BHP has cut forecasted growth in China and reported profits down by 37 per cent last year, but CEO Mike Henry remained optimistic this morning
Government borrowing: Another new debt record as interest hits July high making pre-election tax cuts unlikely August 22, 2023 The interest paid on government debt hit its highest July level on record as government borrowing continued to rise, albeit significantly less than expected.
