• Markets

    MARKETS LIVE: London shares tread water as Vodafone posts results and MPs (and school children) officially disappear on holiday

    The FTSE 100 was little moved as MPs disappeared on holiday for summer recess, not to return for at least two weeks.But traders hoping for a Brexit break could be disappointed as European Commission's chief Brexit negotiator, Michel Barnier, and Brexit secretary David Davis have spent the week firing shots at each other. Overnight US equity markets finished mixed, as only the tech-focused Nasdaq built upon Wednesday's record closing high. The Nasdaq closed higher for the 10th consecutive day, its longest streak since January 2015. [media_photo id="887679" height="412" width="634" alt="Results: Revenues at telecoms giant Vodafone dipped in the first quarter ...

    9029
  • Markets

    Britain's biggest building society Nationwide to pump millions into building and rental schemes in bid to ease nation s housing crisis

    Britain's biggest building society is to pump millions into building and rental schemes in a bid to ease the nation s housing crisis.The Mail can reveal how Nationwide is considering a radical overhaul of its traditional savings and loans business to put more people on the property ladder.It is a considerable departure for a building society, and the first major decision by new boss Joe Garner. New direction: Nationwide is considering a radical ...

    9029
  • Markets

    Hedge fund activist Elliott opens new front in war against miner BHP Billiton, taking aim at plans to splash out billions on potash mine

    Hedge fund activist Elliott has opened a new front in its war against mining giant BHP Billiton, taking aim at plans to splash out billions on a potash mine.The aggressive hedge fund claimed the company s interest in the fertiliser business could be a major error akin to its costly 15bn investment in US shale.Elliott, which recently launched an assault on Dulux owner Akzo Nobel, has been attacking the Anglo-Australian miner since April when it went public with a 35bn overhaul plan. This week BHP signalled its continued interest in its Jansen mine in Canada, ...

    9029
  • Markets

    Shares across Europe s biggest carriers plunge after EasyJet warns of impact of a price war

    Shares across Europe s biggest carriers plunged yesterday after EasyJet warned of the impact of a price war.EasyJet dropped 5.9 per cent, British Airways owner IAG plunged 3.9 per cent and Lufthansa 8.6 per cent after EasyJet said it expects revenue per seat a measure of fares to fall by 2 per cent in the six months to September. Air France and Air Berlin shares also dropped by 8.3 per cent and 2.2 per cent respectively.Like most airlines, low fuel prices have seen EasyJet raise capacity, driving down fares for passengers. [media_photo id="886568" height="347" width="634" alt="Up in the air: Like ...

    9029
  • Markets

    Sports Direct profits slump 59 per cent after it was hit by pound s plunge - but shares bounce back as experts declare worst over

    Sports Direct profits slumped 59 per cent after it was hit by the pound s plunge but shares bounced back as experts declared the worst over.Owner Mike Ashley, embroiled in a legal spat over a supposed 15m deal allegedly struck in a London pub, championed the group s bid to be the Selfridges of sport . In charge: Analysts were relieved as Mike Ashley (pictured) made Jon Kempster finance directorAnalysts were relieved as he made Jon Kempster finance director, a post vacant ...

    9029
  • Markets

    Legendary diamond miner De Beers reports surging production - with hauls increasing almost six-fold in Canada

    Legendary diamond miner De Beers has reported surging production with hauls increasing almost six-fold in Canada.The company produced 8.7m carats over the latest quarter, 36 per cent more than the same period last year. But sales prices have dropped by 12 per cent to around 120 per carat. Wedding bells: Actress Lily James (pictured) sparked rumours of an impending engagement to Matt Smith, the former Doctor Who, when ...

    9029
  • Markets

    Struggling US department store Sears sees shares leap by 20 per cent as it seals deal with Amazon to integrate home appliances with online giant s Alexa voice recognition assistant

    Struggling US department store Sears saw shares leap by 20 per cent as it sealed a deal with Amazon to integrate its home appliances with the online giant s Alexa voice recognition assistant.Customers will be able to turn on their Kenmore brand appliances using the Amazon gadget a speaker which can carry out instructions when someone talks to it.Owners of Sears smart products such as washing machines, fridges, heating devices and air conditioners will be able to use Alexa to control them with voice commands. [media_photo id="886567" height="580" width="634" alt="Cool idea: Customers will be able to turn on their Kenmore ...

    9029
  • Markets

    Unilever profits jump as the rebuffing of Kraft Heinz's 115billion takeover swoop is vindicated

    Consumer giant Unilever has vindicated its recent decision to rebuff a persistent takeover effort by American Kraft Heinz as it posted rising sales and profits for the first half of 2017.The company behind popular brands such as Marmite, Dove soap and Persil laundry detergent said underlying sales rose by 3 per cent in the first half despite volatile market conditions.Sales excluding its spread business - which it is planning to sell or demerge as part of a major shake-up after rejecting Kraft Heinz s 115billion takeover earlier this year - rose by 3.4 per cent. [media_photo id="885793" height="404" width="634" alt="Marmite ...

    9029
  • Markets

    Moneysupermarket shares dive as energy switching drops by a third despite colourful adverts

    A profit warning led to a slide in Moneysupermarket.com Group's shares on Thursday with the company blaming a drop-off in energy switching for its troubles.A set of advertising victories in recent years, such as a dancing Skeletor from 80's children's TV program 'He-man' and a man surfing on an inflatable crocodile, couldn't save the firm's share price, which fell 7 per cent in morning trading.Revenues in its home services division, which includes gas and electricity, fell by a third in the six months to June to 16.9 million. [media_photo id="885792" height="357" width="634" alt="Moneysupermarket's colourful adverts like this one could not ...

    9029
  • Markets

    Profits lifted at EasyJet as the budget airline's new Europe business gets the green light from Austria

    Off: Carolyn McCall is leaving for ITV EasyJet has upgraded its annual profit forecast after a strong Easter helped boost third quarter revenues.The budget airline reported a 16 per cent rise in sales to 1.39billion in the three months to June 30, with passenger numbers increasing by 10.8 per cent to 22.3 million.As a result, EasyJet said full-year pre-tax profits are expected to come in between 380million and 420million, up from earlier forecasts. But profits will still come in well below last year's 495million, when the firm ...

    9029
  • Markets

    Customers flee SSE for smaller competitors as 'Big Six' energy suppliers face ongoing threat from regulators

    Energy supplier SSE has reported the loss of 230,000 customer accounts as the ongoing desertion of the 'Big Six' energy suppliers in favour of cheaper competitors continued.In the previous year ending in March, the company lost 210,000 accounts.Alistair Phillips-Davies, chief executive of SSE, said: 'As expected, 2017/18 is presenting a number of complex challenges to manage.' SSE has reported the loss of 230,000 customer accounts.A mix of sweltering summer weather, a threatened government price cap, and shifting wholesale fuel prices has meant volatile market conditions for the ...

    9029
  • Markets

    Mothercare's UK turnaround plan pays off as sales rise but Middle East decline weighs on performance

    Mothercare s sales continued to grow in its first quarter as its turnaround plan paid off, but it warned of the impact of rising inflation on UK customers and a further decline in its Middle East business.The retailer, which sells baby and mother clothing and accessories, posted a 1.9 per cent rise in UK like-for-like sales in the first quarter to 8 July, but store closures meant total sales fell 1.8 per cent.Online sales, however, slowed down sharply to 3.3 per cent in the period, although chief executive Mark Newton-Jones insisted this was not the start of an underlying permanent ...

    9029
  • Markets

    Mike Ashley banks on making Sports Direct the 'Selfridges of sport' despite its profits plunging by more than half

    Mike Ashley's Sports Direct has blamed the pound's plunge for a near-60 per cent fall in full year profits, but he claimed it was on course to become the 'Selfridges of sport'.The discount retailer, which has been hit by a scandal over its poor treatment of workers at its warehouse in Shirebrook, also announced it had appointed Jon Kempster as its new chief financial officer.Sports Direct reported a 58.7 per cent fall in underlying pre-tax profits to 113.7million for the year to the end of April, even though group revenues rose by 11.7 per cent. [media_photo id="884205" height="407" width="634" alt="In ...

    9029
  • Markets

    MARKETS LIVE: London shares push higher; results in focus for FTSE 100 and Wall Street investors

    London shares pushed higher after Asian shares rose to their highest levels in nearly a decade overnight after the Bank of Japan reinforced expectations that it will keep stimulus in place far longer than other major central banks.On the FTSE 100 Easyjet quarter three revenue per seat increased 2.2 per cent, helped by Easter timing, higher loads and better underlying trading. US companies reporting later today include Microsoft, Travellers and Visa, as well as global asset manager BNY Mellon, online retailer eBay and tobacco firm Phillip Morris.US equity markets enjoyed a record breaking yesterday as the Dow Jones joined its ...

    9029
  • Markets

    Over 300 Glaxo jobs face the axe as group announces plans to put malt drink Horlicks up for sale

    Over 300 GlaxoSmithKline employees are set to lose their jobs after the group unveiled plans to sell its malt drink Horlicks brand, shut down the plant where it is produced and outsource some of its antibiotics manufacturing.Glaxo said the planned closure of Horlicks manufacturing site in Slough and the decision to outsource production at its site in Worthing will result in the loss of 320 jobs over the next four years.The pharma giant currently employs around 17,000 people in the UK - 5,000 of which are involved in its manufacturing. [media_photo id="883916" height="372" width="634" alt="For sale: Glaxo unveiled plans to ...

    9029