FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
Supermarkets do butter to ease soaring prices for shoppers May 10, 2023 The price of a slice of toast with butter is about to get cheaper as some of the UK’s biggest supermarkets have slashed the price of the kitchen staples following criticism over high prices. Sainsbury’s said that as commodity prices started to fall on wheat and butter, it is now able to reduce the price [...]
Sharon White: Embattled John Lewis chair survives confidence vote – just about May 10, 2023 John Lewis chair Sharon White will remain chief of the business after winning a vote of confidence on her future leadership, but remains under considerable pressure with partners voting against her performance over the last year. White secured one victory at a John Lewis Partnership meeting held on Wednesday, with a majority of partners saying [...]
First Big Oil, now the Government feels God’s wrath: Justin Welby slams ‘unacceptable’ small boats bill May 10, 2023 Justin Welby launched a stinging attack on the government’s Illegal Migration Bill, branding it “isolationist, morally unacceptable and politically impractical”. The Archbishop of Canterbury made the withering intervention as the flagship legislation on plans to tackle the small boats crisis faced its first test in the House of Lords. It came just a day after [...]
Binance to focus on UK as US whips away the welcome mat May 10, 2023 Binance is set to turn its attention to the UK after declaring the US has become a “very difficult” place for the crypto industry.
Liontrust faces battle with GAM investors over ‘unfair’ £96m takeover swoop May 10, 2023 London-listed fund manager Liontrust is facing a battle with a group of GAM shareholders and a potential challenge from regulators after it swooped to takeover the Zurich-based asset manager last week.
US inflation falls faster than expected to 4.9 per cent, raising chances of Fed rate hike pause May 10, 2023 US inflation fell faster than expected last month, potentially paving the way for the Federal Reserve to pause its aggressive interest rate hike campaign at its meeting next month, official figures unveiled today unveiled. The rate of price increases in the world’s largest economy slipped to 4.9 per cent in April, down from five per [...]
City of London Police bars former chief superintendent due to ‘gross misconduct’ May 10, 2023 City of London Police has barred a former top officer from serving again after allegations of “gross misconduct” were proven. The Square Mile’s force found former chief superintendent David Clark had breached the force’s standards of professional behaviour. Clark, who resigned in 2019, was found to have forwarded emails from his official email to a [...]
Toyota eyes EV sales boom in China as firm helped by easing supply chain issues May 10, 2023 Toyota Motor Corp on Wednesday said it expects operating profit to climb 10 per cent this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed last month, and [...]
Wagner Group: UK to put Russia mercenaries on proscribed terror list alongside ISIS May 10, 2023 The UK is set to designate Russia’s mercenary Wagner Group as a proscribed terrorist organisation, it is understood. The Times quoted a government source as saying the move was “imminent” and likely to be enacted within weeks after two months spent building a legal case. Proscription would make it a criminal offence to join Wagner, [...]
