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Markets Articles | This is Money

Markets Articles | This is Money

Published: Sat, 18 Nov 2017 16:12:01 +0000

Last Build Date: Sat, 18 Nov 2017 16:12:01 +0000

Copyright: Copyright 2017 Associated Newspapers Ltd

Britons to spend £7bn over Black Friday weekend

Sat, 18 Nov 2017 09:26:56 +0000

Amazon, Debenhams and John Lewis are among those poised to cash-in on the mammoth shopping event, with sales set to soar past last year’s £6.5bn total.

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Interest rates give Prudential a boost

Sat, 18 Nov 2017 09:05:48 +0000

The new business sector profit rose 17 per cent to £2.47bn for the first nine months of the year. Asia churned out the largest slice, rising 15 per cent to £1.62bn.

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MARKET REPORT: Sky rises as media giants eye Fox break-up

Fri, 17 Nov 2017 21:50:44 +0000

Comcast, which has NBC and Universal Pictures on its roster of brands, is reportedly interested in certain assets owned by Fox, including its 39 per cent stake in Sky.

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Hornby going cap in hand to investors again

Fri, 17 Nov 2017 21:50:41 +0000

The troubled toy maker wants to raise £12m to help shore up its balance sheet and fund the purchase of new boss Lyndon Davies’s business LCD Enterprises.

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Borrowing costs to stay near record lows despite rate hike

Fri, 17 Nov 2017 21:50:39 +0000

Joe Garner suggested homebuyers will continue to benefit from cheap mortgages even after the Bank of England raised rates from 0.25 per cent to 0.5 per cent – the first rise in more than a decade.

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Shares in Carillion nearly halve after profits warning

Fri, 17 Nov 2017 21:50:34 +0000

On another brutal day that plunged the builder’s future into doubt, the stock closed down 48 per cent at an all-time low of 21.5p, taking its losses since the start of the year to 90 per cent.

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US predators circling Fox as Rupert Murdoch ponders sale

Fri, 17 Nov 2017 21:50:31 +0000

US giants Comcast and Verizon are the latest firms to express an interest in 21st Century Fox’s entertainment businesses.

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MARKETS LIVE: Carillion issues a profit warning

Fri, 17 Nov 2017 17:12:58 +0000

UK stocks fell back into the red, ending a short-lived recovery, as takeover interest boosted Sky and construction firm Carillion plummeted after warning it would breach debt covenants.

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Eleven Four Seasons care homes rated inadequate

Fri, 17 Nov 2017 09:43:41 +0000

Dismal ratings at Four Seasons homes, which look after about 17,000 elderly and vulnerable people, have shot up since last year. It could now be handed over to major creditor H/2.

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The £715m pension pot fees bonanza

Fri, 17 Nov 2017 01:46:34 +0000

Some 220,000 people have transferred their nest egg out of a defined benefit pension scheme since rules were changed in 2015 – shifting £50bn of cash in total.

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DAILY BRIEFING: Qinetiq making more revenue outside the UK

Thu, 16 Nov 2017 22:08:53 +0000

Qinetiq said it makes 26 per cent of its revenue outside the UK, up from 21 per cent last year, as its international business expands. Revenue for the first half rose by about £30m to £392.5m.

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MARKET REPORT: Hospital groups fall as takeover hopes fade

Thu, 16 Nov 2017 21:56:53 +0000

In an update, Mediclinic, South Africa’s largest private hospital group, said no deal had been reached to take over UK-based Spire, an independent hospital group.

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Brompton Bike boss shrugs off Brexit ‘momentum of fear’

Thu, 16 Nov 2017 21:52:45 +0000

Brompton Bicycle's managing director Will Butler-Adams claimed firms would be able to cope if Britain left the EU without a trade deal, which would see exports face tariffs of 10 per cent.

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Trader's bets against debt collector sink £1bn flotation 

Thu, 16 Nov 2017 21:51:13 +0000

Bybrook Capital believes that debt collectors, who have been buying up piles of loans at the low-income end of the borrowing market, will never be able to recover many of them.

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New GKN boss ousted before he even starts

Thu, 16 Nov 2017 21:51:09 +0000

Kevin Cummings, chief executive of the firm's aerospace arm, was appointed to the top job two months ago and had been due to take over on January 1.

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Serious Fraud Office charges two in Unaoil bribery probe

Thu, 16 Nov 2017 21:51:05 +0000

Saman Ahsani, 43, who lives in Monaco, is subject of an extradition request by the Serious Fraud Office, which yesterday also announced it had charged two former Unaoil employees.

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Ted Baker in fashion as it bucks High Street gloom

Thu, 16 Nov 2017 21:51:01 +0000

The British firm has enjoyed strong online sales, but it has also been rapidly expanding its physical presence in the UK, as well as opening concessions in Canada and Germany.

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Siemens prepares to slash 6,900 jobs 

Thu, 16 Nov 2017 21:50:54 +0000

The move will affect about 2 per cent of its global workforce, mainly from its power and gas division, which has been hit by a huge slump in demand for turbines.

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South West Water paid more to its owner than on upgrading

Thu, 16 Nov 2017 11:37:24 +0000

South West Water paid a £213.1m dividend to its parent group Pennon last year, while investing £190m in drinking and wastewater operations. It was fined £1.7m for missing pollution targets.

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Royal Mail admits staff face 'difficult times'

Thu, 16 Nov 2017 11:36:02 +0000

The group is also in the process of moving its workforce to a new pension scheme, but continue to face stiff opposition from unions.

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Tesco's merger with Booker 'would be bad for investors'

Thu, 16 Nov 2017 10:49:33 +0000

Schroder Investment Management, which owns 4.65 per cent of Tesco, claims the supermarket is paying too high a price. The proposed deal would turn Tesco into a supplier to small shopkeepers.

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MARKETS LIVE: All eyes on retail sales update

Thu, 16 Nov 2017 10:27:52 +0000

After yesterday’s wages and jobs date attention turns to an expected retail sales update.

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Engineering group GKN parts company with incoming boss

Thu, 16 Nov 2017 09:39:10 +0000

The FTSE 100 group has also admitted that its write-offs related to troubles with its US plant could be up to £130million, more than double what was anticipated.

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IN THE MONEY: Sophos non-executive chairman Steve Munford

Wed, 15 Nov 2017 22:07:54 +0000

Munford was chief exec at Sophos from 2006-12, stepping down to return to Canada with his wife and three children. He sold 300,000 shares at 578.9p on Friday and 450,000 on Tuesday at 582.88p.

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Tesco Opticians and Vision Express merger in the clear

Wed, 15 Nov 2017 22:07:05 +0000

The Competition and Markets Authority will not launch a second phase probe although it has pinpointed three locations where the move would result in a worse deal for customers.

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Airbus and Boeing land £60bn of sales

Wed, 15 Nov 2017 22:06:31 +0000

European giant Airbus sold 430 planes for £38bn to a US budget airlines investor – outdoing arch-rival Boeing which sold 225 planes worth £20bn worth to Fly Dubai.

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DAILY BRIEFING: US approves AstraZeneca severe asthma drug

Wed, 15 Nov 2017 22:00:02 +0000

Drugmaker AstraZeneca has won US approval for a treatment for severe asthma. Benralizumab will be marketed under the name Fasenra.

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Sir Charles Dunstone hit for £33m in TalkTalk sell-off

Wed, 15 Nov 2017 21:54:34 +0000

The businessman, 52, is spearheading efforts to revive the company’s fortunes having taken over as executive chairman in February following the departure of Dido Harding.

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Power struggle grips the Stock Exchange

Wed, 15 Nov 2017 21:50:50 +0000

Sir Chris Hohn, founder of The Children’s Investment Fund, sent an explosive letter to LSE chairman Donald Brydon (pictured) demanding he explain why chief executive Xavier Rolet is leaving.

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MARKET REPORT: BP buys back its shares as profits double

Wed, 15 Nov 2017 21:50:14 +0000

As part of its scrip dividend scheme, which allows investors to choose dividend payouts in shares rather than cash, BP said it will purchase a maximum of 1.96 billion ordinary shares.

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MARKETS CLOSE: FTSE 100 ends on a low note

Wed, 15 Nov 2017 17:27:44 +0000

The FTSE 100 closed down 41.81 points at 7372.61, with miners among the fallers in London amid fears of a slowdown in Chinese growth.

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Brexit will not stop more interest rate rises, BoE member

Wed, 15 Nov 2017 15:15:22 +0000

Broadbent said: 'There's been a strain of opinion that EU withdrawal is something that means lower interest rates,. I think the belief has been overdone.'

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Sales of Angel Delight rise by 30% in six months

Wed, 15 Nov 2017 12:46:40 +0000

The group, which owns brands including Bisto gravy, Mr Kipling and Ambrosia, saw revenues rise 1.5 per cent to £353.3million, with international sales up 23 per cent.

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Old Mutual Wealth IPO targeted for early in the new year

Wed, 15 Nov 2017 11:25:51 +0000

Old Mutual has said it is targeting a spin-off and stock market float of its wealth and investments business for 'early 2018' under new brand 'Quilter'.

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UK's 'attractive' mortgage market helps homebuilders

Wed, 15 Nov 2017 10:23:30 +0000

The two companies' latest upbeat trading updates follow a positive outlook on the sector from rival Bovis on Tuesday, shrugging off fears of a post Brexit vote housing market slump.

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TalkTalk suffers 17% share fall 

Wed, 15 Nov 2017 10:04:30 +0000

The group's revenues fell by 5 per cent to £828million over the period, with headline earnings down 34 per cent to £95million.

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DAILY BRIEFING: Tory treasurer in line to chair Rio Tinto

Tue, 14 Nov 2017 23:58:10 +0000

Conservative treasurer Sir Mick Davis is in line to be the next chairman of mining giant Rio Tinto. The 59-year-old has emerged as a frontrunner for the position being vacated by Jan du Plessis.

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FCA warns against betting on the Bitcoin bubble

Tue, 14 Nov 2017 23:55:11 +0000

Bitcoin has rocketed in value in the past 12 months from $721 to $6,483, sparking an investment craze backed by celebrities such as football manager Harry Redknapp.

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US oil boom 'will see it dominate the market by 2025'

Tue, 14 Nov 2017 23:54:09 +0000

The US has revolutionised its oil and gas industry over the past decade to become less dependent on foreign imports. Experts now predict its output will grow by 8m barrels per day by 2025.

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Luxury fashion website Farfetch sees losses widen to £34m

Tue, 14 Nov 2017 23:52:17 +0000

Farfetch operates like Deliveroo for fashion, but owns no shops or even an inventory. Sales increased to £151m from £87m but the firm warned business could be hit as more retailers move online.

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Ex-Tesco boss Sir Terry Leahy quits B&M after five years

Tue, 14 Nov 2017 23:50:17 +0000

His departure comes as B&M posted soaring half-year sales and profits – thanks to new store openings and the acquisition of frozen food retailer Heron Foods.

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Vodafone blast over BT broadband rip-off

Tue, 14 Nov 2017 23:44:02 +0000

In an explosive intervention, Vittorio Colao spoke out against the poor service and high prices he said were provided by BT’s network arm, Openreach.

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New chief faces ITV drama as ad sales slide 7% 

Tue, 14 Nov 2017 23:36:14 +0000

New ITV boss Carolyn McCall will leave EasyJet in January to take on her new role. The firm said total earnings were down 1 per cent to £2.1billion in the first nine months of the year.

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MARKET REPORT: Housebuilders back in favour

Tue, 14 Nov 2017 23:35:36 +0000

Shares in McCarthy & Stone shot up by 6.7 per cent, or 9.8p, to 157p, as the retirement housebuilder’s full-year results pointed to a strong forward order book for 2018.

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HSBC pays £269m to settle Swiss tax scandal

Tue, 14 Nov 2017 23:12:21 +0000

It follows a long-running scandal over the lender’s operation in Switzerland, which began in 2008 when former employee Herve Falciani fled to France with a dossier of files.

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Go Compare jumps 10% after it rejects £460m Zoopla bid

Tue, 14 Nov 2017 23:03:50 +0000

Go Compare, known for its adverts featuring fictional opera singer Gio Compario (pictured), said the 110p-a-share offer 'fundamentally undervalues' the company.

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Backlash as Tesco deal gets all-clear

Tue, 14 Nov 2017 23:03:28 +0000

A war of words broke out last night after regulators approved Tesco’s merger with Booker. Leading wholesalers warned the tie-up up would destroy their businesses and put thousands of jobs at risk.

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