Toyota shares soar again after shareholders back board and chair in long-awaited vote June 14, 2023 Toyota’s chair and former president Akio Toyoda survived a shareholder challenge on governance and climate policy today, prompting a second day of soaring shares for the automaker. Toyota’s shares settled up 6.3 per cent on Wednesday, following a similar five per cent rise the day before, which was prompted by the unveiling of a new [...]
MPs quiz City watchdog over handling of Crispin Odey claims June 14, 2023 A group of MPs has called for the Financial Conduct Authority to reveal the depths of its previous probes into Crispin Odey today as the scandal surrounding the financier deepens this week.
Royal Ascot runner goes Thunder the hammer June 14, 2023 Tom Marriott speaks to Jack Davison ahead of today’s ThoroughBid online auction of Royal Ascot runner Thunderbear. WALKING into the parade ring, or maybe even the winners’ enclosure, at Royal Ascot, with a horse running in your colours… the stuff that dreams are made of. At 3:05pm next Saturday, Thunderbear will line up in the [...]
UK economy swings back to growth but spectre of recession looms amid interest rate fears June 14, 2023 Britain’s economy swung back to growth in spring, but the recent turmoil in the mortgage market and the prospect of the Bank of England hiking interest rates aggressively has put the risk of a recession back on the table. Official figures out today from the Office for National Statistics (ONS) showed gross domestic product – [...]
FTSE 100 close: Rio Tinto and Glencore hoist London index as UK economy resumes growth June 14, 2023 London’s FTSE 100 jumped today, led higher by industrial giants offsetting losses among retail and consumer-focused firms and housebuilders. The capital’s premier index added 0.1 per cent to close at 7,602.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was largely unchanged at 19,175.50 [...]
Pound hits highest level against US dollar in over a year as traders bet Bank of England will outmuscle Fed June 14, 2023 Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation. Britain’s currency jumped around 0.7 per cent today to nearly $1.27, taking it to [...]
Edinburgh Woollen Mill Group still owes £167m to unsecured creditors following collapse June 14, 2023 Philip Day’s Edinburgh Woollen Mill Group empire is understood to still owe money to unsecured creditors following its collapse almost three years ago. The cluster of retail assets, which included Jaeger, Peacocks, Bonmarché, and Edinburgh Woollen Mill, fell into administration in 2020 after sales declined during the pandemic. However, administrator reports for the brands now [...]
Airbus raises 20-year delivery forecast as aviation’s ‘centre of gravity’ shifts east June 14, 2023 Airbus has today upped its 20-year forecast for the number of new aircraft it expects to deliver, estimating a total of 40,850 by 2042, up from 39,490 last year amid rising demand for fuel-efficient jets. The aerospace titan said that 80 per cent of its crafts would be made up of single-aisle jets, such as [...]
WE Soda scraps London listing plans in ‘fresh blow’ to the City June 14, 2023 Soda ash firm WE Soda has ditched its plans to float on the London Stock Exchange today citing “extreme investor caution”, just one week after first announcing the move. The Turkish owned firm had delivered a boost to London’s beleaguered exchange when it revealed last week it was plotting a London IPO in what would [...]
PMQs sketch: All the fun of the fair for Sunak and Starmer June 14, 2023 In the wake of Boris Johnson’s seemingly endless headline generating abilities being demonstrated again this week, it’s unsurprising Keir Starmer launched into what should have been a brutal takedown of a government fiddling while Frome (oh no, that’s already gone independent…) Stoke-on-Trent – majority of just 670 – burns. It’s just a shame the criticism [...]
