Sainsbury’s Christmas sales slip despite online boost January 8, 2020 Sainsbury’s suffered the biggest drop in Christmas sales of general merchandise since it bought Argos in 2016, as consumer demand for toys and games weakened. General merchandise sales, which includes Argos, dropped 3.9 per cent in the 15 weeks to 4 January, driving a 0.7 per cent decline in total retail sales excluding fuel. However, [...]
Carlos Ghosn to seek Lebanon trial after flight from Japan January 8, 2020 Carlos Ghosn is set to push for a trial in Lebanon after his sensational escape from Japan, his legal team has said. Ahead of the disgraced former Nissan chief’s press conference later today, Ghosn’s legal team has said a Lebanon trial would involve “either a handing over or co-operation” between the two countries’ justice ministries, [...]
Anglo American eyes £386m rescue package for Sirius Minerals January 8, 2020 Anglo American today confirmed it is weighing up a £386m rescue bid for the struggling British miner Sirius Minerals. The 5.5p per share cash offer would offer a lifeline to the cash-strapped North Yorkshire company, which is struggling to build a huge potash mine on the North York Moors. Read more: Sirius Minerals seeks $600m [...]
South Western Railway’s future at risk as losses hit £137m January 7, 2020 South Western Railway is on the brink of collapse, its auditor has warned after it swung to a massive £137m loss in its latest financial year. Deloitte warned there is “significant doubt” over the future of the strike-hit firm, which could be nationalised by the Department of Transport (DfT) in order to keep its rail [...]
Aston Martin shares fall as it warns annual profit will halve January 7, 2020 Aston Martin today warned annual core profit could halve as European sales weakened over its peak Christmas period. The struggling luxury car manufacturer told investors that annual earnings before interest, tax, depreciation and amortisation (Ebitda) will sink to between £130m and £140m. Read more: Aston Martin swings to £13.5m loss as it blames ‘soft’ UK [...]
Soleimani death: US denies Iraq withdrawal after leaked letter January 7, 2020 The Pentagon has said a US general’s letter telling Iraq that US-led coalition troops would withdraw from the country after the death of Iran’s military commander Qasem Soleimani “was a mistake”. Instead, US military officials insisted soldiers would remain in Iraq despite a letter said the US would be “repositioning forces in the coming days [...]
SMMT: UK car sales plunge to six-year low despite electric growth January 6, 2020 British car sales slumped to a six-year low in 2019, as widespread economic uncertainty put the brakes on an industry whose only glimmer of hope came in the form of record electric vehicle sales. New car registrations fell two per cent to 2.31m last year, according to the Society of Motor Manufacturers and Traders (SMMT), [...]
FTSE 100 falls sharply as Soleimani death rocks stocks January 6, 2020 FTSE 100 stocks fell steeply on the opening of London’s market today as tensions between the US and Iran escalated further following the killing of a top Iranian general. London’s blue-chip index sank one per cent to 7,545.4 points in early trading after the US-sanctioned assassination of Iranian general Qasem Soleimani drove markets lower and [...]
Plus 500 profit set to slump 62 per cent after regulatory crackdown January 6, 2020 Plus 500 today warned that annual profit and revenue could fall for the first time in at least three years due to tougher industry regulations. The online trader predicted revenue for its last financial year will hit $354m (£270.7m). That represents less than half of 2018’s total revenue of $720.4m, and comes after a regulatory [...]
Compass chairman Paul Walsh prepares to leave company January 6, 2020 The chairman of Compass is set to step down to pursue other interests. Paul Walsh will remain in his role as chairman and company director until the company finds a successor, and will not seek re-election at the 2021 annual general meeting. Read more: Paul Walsh is planning to leave Compass – report ‘It has [...]