Pacwest explores potential sale as US banking turmoil looks set to roll on May 4, 2023 After its share price tanked 50 per cent yesterday, Pacwest confirmed late last night that it was exploring "all options to maximise shareholder value" following reports that it was looking at a potential sale.
Vodafone and CK Hutchinson close to merging UK telecoms businesses May 4, 2023 Vodafone and CK Hutchinson are close to agreeing a merger of their UK telecoms businesses, according to reports. The new company would have an enterprise value of £15bn and would be the UK’s largest mobile provider with 28m customers, the Financial Times reported on Thursda, citing people familiar with the matter. The move to combine [...]
Coronation weekend: Brits to splash out an extra £3bn on food, drink and entertainment May 4, 2023 Brits are expected to ring in the Coronation of King Charles III this weekend in the time honoured tradition of emptying their wallets faster than usual. It is predicted consumers will fork out around £8bn over the Coronation bank holiday weekend, with £3.22bn more spent than during a typical May bank holiday. Of the £3bn [...]
Maersk takes big revenue hit as pandemic-era bonanza ends May 4, 2023 Shipping giant Maersk reported a significant revenue drop of 26 per cent today, down from $19.3bn (£15.4bn) to $14.2bn (£11.31bn) year on year, as the freight and shipping sector saw demand fall sharply. The Copenhagen-based group said profitability for the quarter was “significantly lower” compared to last year, amid low demand and challenging economic circumstances. [...]
Mortgage rates ‘significantly’ increase – but what does it mean for the housing market? May 4, 2023 The number of mortgages being approved leaped in March in another signal that the outlook for the housing market is beginning to recover. Figures released today by the Bank of England showed that mortgage approvals for house purchases rose “significantly” to 52,000 in March from 44,100 in February. Lucian Cook, head of residential research at [...]
Price of Bitcoin moves above $29,000 after US Federal Reserve raises interest rates May 4, 2023 Bitcoin is in the green today after recovering from a slight dip following the Federal Reserve’s announcement yesterday of another 0.25% rate hike.
BMW: Revenue jumps despite sales dip amid ‘persistently volatile conditions’ May 4, 2023 BMW Group's reported a healthy increase in quarterly revenue today as past price hikes helped the firm weather a dip in sales amid “persistently volatile conditions.”
Inflation reignites in UK as economy powers further away from feared recession May 4, 2023 Inflation has reignited in the UK, pushed higher by the economy roaring back and emboldening businesses to pass on higher costs to customers via rising prices, a closely watched survey out today unveils. S&P Global and the Chartered Institute of Procurement and Supply’s (PMI) for the country’s services sector climbed sharply to 55.9 points last [...]
WANdisco set to slash headcount by 30 per cent as fraud fall out continues May 4, 2023 Beleaguered data firm WANdisco said it will slash its headcount by nearly a third today as it scrambles to steady the ship amid an accounting scandal and fraud probe.
Total’s £21bn Iraq project expected to begin in two weeks, oil minister says May 4, 2023 Iraq and Total Energies expect to kick-start a long-delayed £21.5bn project within the next two weeks, Iraq's oil minister said.
