Markets Articles | This is Money

Markets Articles | This is Money

17/08/2018 12:18 PM
FTSE LIVE: RBS finance boss to step down next month; Interserve wins uni project; UK stocks flat
Royal Bank of Scotland (RBS) confirmed today that its chief financial officer Ewen Stevenson will step down at the end of September. A search for his successor is underway.

17/08/2018 12:09 PM
B&Q bounces back from the Beast from the East as heatwave warms the DIY chain’s sales
B&Q clocked up a 3.6 per cent rise in like-for-like sales for the last three months, marking a sharp turnaround from the 8.8 per cent slide it suffered in its first quarter thanks to the icy weather.

17/08/2018 10:29 AM
DAILY BRIEFING: Asda sales keep growing; Elon Musk plans LA underground tunnel
Sales at Asda rose for the fifth consecutive quarter. Meanwhile, a 3.6-mile underground tunnel has been proposed in Los Angeles by Elon Musk’s Boring Company.

17/08/2018 09:31 AM
RBS finance chief confirms exit from bank in September to take up same role at rival lender HSBC
Royal Bank of Scotland confirmed today that its chief financial officer Ewen Stevenson will step down at the end of September to take up a post at rival HSBC.

16/08/2018 10:12 PM
Ex-HMRC fraudster is jailed for nine years 
Mike Hughes, 52, used a string of UK and offshore companies and bank accounts to steal £6.9million in taxes deducted from workers’ wages, through fraudulent payroll schemes.

16/08/2018 10:11 PM
Carlsberg celebrates successful summer thanks to the World Cup
Sales were up 10 per cent in host nation Russia, while the hot weather also boosted demand, especially in China, for its premium wheat beer Kronenbourg 1664 Blanc.

16/08/2018 09:59 PM
RBS bankers joked about crashing the US housing market
A top executive in the bank's US division revealed it had sold a bundle of 'total f***ing garbage' sub-prime mortgages to investors but disguised the loans to 'look ok'.

16/08/2018 09:58 PM
Chemring awarded £73m contract from US department of defence to upgrade its mine detectors
Chemring said its technologies would make the Husky Mounted Detection Systems more effective.

16/08/2018 09:38 PM
Brewdog told to pay £12,000 compensation to former employee
James Ross, 47, who worked in the Aberdeen brewer’s packaging department, suffers with Stargardt disease, which causes progressive vision loss.

16/08/2018 09:32 PM
Rio Tinto hires bankers to sell its £4.7bn Canadian iron-ore operations
Possible bidders for the 58.7 per cent stake in Iron Ore Company of Canada include ArcelorMittal and Teck, Sky News reported.

16/08/2018 09:27 PM
B&Q is basking in our scorching summer after winter slump as heatwave boosts sales  
B&Q owner Kingfisher, which also owns Screwfix in the UK, has seen business bounce back following a slump during the icy blast earlier in the year.

16/08/2018 09:22 PM
BHS auditor PwC shamed over pension fees 
Accountants were in line to collect more fees the more workers they were able to persuade to change their pension benefits, the accounting watchdog said.

16/08/2018 09:02 PM
MARKET REPORT: Booming demand for patios lifts paving firm Marshalls 
Revenue climbed 12 per cent in the first half of the year to £244.3million, as boss Martyn Coffey said new rules allowing over-55s to withdraw and spend cash from their pensions were boosting sales.

16/08/2018 05:51 PM
Stricken Homebase raids B&Q for new directors as it launches survival plan
Homebase has bolstered its leadership team with the appointments of Grant Anderson - a B&Q lifer - and Dave Elliott as it ploughs ahead with store closures and rebooting the business.

16/08/2018 04:27 PM
FTSE LIVE: B&Q boosted by heatwave; Royal London bemoans sluggish economic growth; FTSE in the green
The FTSE 100 closed up 58.51 points at 7556.38 as news of fresh trade talks between the US and China helped to calm investor sentiment.

16/08/2018 03:56 PM
Mecca Bingo suffers falling customer numbers as owner's profits dive
Falling bingo and casino customers, coupled with tighter regulatory controls in the sector, led to the group's 'disappointing' results, it said.

16/08/2018 12:08 PM
Royal London's profits climb but it still bemoans 'sluggish' economic growth
The group, which is Britain's biggest mutual life, pensions and investment firm, saw life and pension sales fall by £1million to around £6billion in the first half.

16/08/2018 11:45 AM
Debenhams puts hundreds of jobs on the line in next round of cuts
Struggling department store chain Debenhams has put hundreds of roles across its fashion and home departments into consultation and expects to make between 80 and 90 employees redundant.

16/08/2018 09:19 AM
PwC auditor missed £21m hole in accounts and spent just two hours doing the BHS books
PwC partner Steve Denison, 53, signed off BHS as a going concern in March 2015 after just two hours of work on the audit.

16/08/2018 01:29 AM
Elon Musk handed writ over Tesla sale
The Securities and Exchange Commission (SEC) investigation relates to Musk’s claim on Twitter that funding was ‘secured’ for a buyout, sources told Fox Business.

16/08/2018 01:09 AM
Warren Buffett continues to build its stake in Apple
Warren Buffett’s Berkshire Hathaway bought 12.4million shares in the second quarter, taking its holding to nearly 252million.

15/08/2018 09:57 PM
Financial Times chief executive hands back £510k pay rise 
John Ridding saw his pay jump 25 per cent higher to £2.6million in 2017 despite falling profits at the paper.

15/08/2018 09:44 PM
Russian aluminium firm EN+ sees profits nearly double despite US sanctions
Oligarch Oleg Deripaska’s firm (pictured), which also produces electricity from hydro power, saw sales rise 5.1 per cent to £4.7billion during the first half of the year.

15/08/2018 09:40 PM
China's tech giant Tencent sees shock drop in profits
Tencent said second quarter profits fell to about £2billion, behind analyst estimates of £2.2billion.

15/08/2018 09:24 PM
Why ousted WhatsApp boss has to keep coming to work to claim £640m
Despite leaving the firm in April, Jan Koum has been forced to pop in to the office of Facebook, WhatsApp’s parent, in order to qualify for his multi-million pound deal.

15/08/2018 09:21 PM
MARKET REPORT: Crossrail builder Balfour Beatty reveals a high-speed profit boost
The Channel Tunnel and London Crossrail builder said profits were up 69 per cent to £66million in the first half of the year.

15/08/2018 09:21 PM
US economy continues to roar as retail sales and productivity outpace predictions
American households increased their spending on cars, clothing and other products in July by 0.5 per cent, more than estimates of 0.1 per cent and signalling a strong start to the third quarter.

15/08/2018 09:14 PM
Homebase's botched takeover costs Australian firm Wesfarmers £800m
Wesfarmers said its earnings fell from £1.6billion to £682million in the year to June 30.

15/08/2018 04:27 PM
Wetherspoons to ditch more European suppliers it prepares for Brexit
Brexit-backing Tim Martin, the pub chain’s founder and boss, said the entire range of food and drinks was being reviewed to see if better alternatives were available from outside the EU.

15/08/2018 04:26 PM
FTSE LIVE: Admiral profits rev up; Lookers suffers blow to bottom line; UK stocks open in the green
The FTSE 100 closed down 113.77 points at 7497.87. Stock markets around the world are in the red as a strengthening dollar spooks investors and threatens emerging markets.

15/08/2018 04:05 PM
European shares slip as Turkey tariff move sours sentiment
Weak commodity prices also hit mining shares which make up a significant proportion of the FTSE 100 index and other leading European indices.

15/08/2018 12:29 PM
MARKET REPORT: Copper slump chisels £655m off miner Antofagasta
Antofagasta announced that earnings for the first half of the year were down 16.2 per cent to £708.1million, as the strengthening Chilean peso meant costs climbed.

15/08/2018 12:26 PM
Royal Mail fined £50m for bullying small rivals after Whistl complaint
Regulator Ofcom said its ‘unacceptable’ behaviour meant mail and parcel senders could have missed out on lower prices.

15/08/2018 11:11 AM
Construction firm Balfour Beatty sees profits QUADRUPLE
The firm, which is in the midst of completing the London Crossrail project, has dubbed the raft of measures designed to improve its fortunes as the 'Build to Last' programme.

15/08/2018 09:58 AM
Fat Face bucks the High Street blues with surge in womenswear sales and foray across the pond
Fat Face, known for its outdoor gear and weekend casuals, joined its country rival Joules on the list of retailers bucking the blues today as it unveiled both top and bottom line growth.

15/08/2018 08:54 AM
Admiral wheels in profit rise driven by motor division, but household arm left out in the cold
Admiral, the Elephant and Confused.com owner, hailed an impressive jump in profits for the first half of the year, despite its home insurance arm being chilled by the Beast from the East.

15/08/2018 07:45 AM
Tesla in turmoil as board reveals Musk has NOT bid for his firm
Musk owns almost 20 per cent of Tesla and announced his idea for a buyout last week on Twitter. However, Tesla's own committee says no offer has yet been tabled.

15/08/2018 07:13 AM
Why did Mike Ashley let House of Fraser go bust first? The secret behind pre-pack administrations
Ailing department store House of Fraser went into administration on Friday – but it was not to suffer the same fate as fallen High Street counterparts Toys R Us, Maplin or Poundworld.

14/08/2018 11:40 PM
Debenhams shares lifted by rumours Mike Ashley might merge it with House of Fraser
Ashley, founder and chief executive of Sports Direct, said on Friday he was buying House of Fraser out of administration for £90million.

14/08/2018 11:32 PM
Gucci, Prada... and Sports Direct: The brands Mike Ashley says will save House of Fraser
Mike Ashley has vowed to take House of Fraser further upmarket with luxury brands and concierge services for shoppers.

14/08/2018 11:15 PM
DAILY BRIEFING: Price of bitcoin dipped below $6,000; Facebook buys interactive video firm Vidpresso
The price of bitcoin dipped below $6,000 as digital currencies went into the red. Meanwhile, social network Facebook has bought interactive video firm Vidpresso.

14/08/2018 04:14 PM
FTSE LIVE: Esure sold; Royal Mail slapped with £50m fine; Ashley tough on House of Fraser suppliers
The FTSE 100 closed down 30.81 points at 7611.64 and the pound was at $1.27 against the dollar.

14/08/2018 10:07 AM
House of Fraser suppliers left out of pocket as Ashley's Sports Direct draws a line under payments
Suppliers and concessionaires to House of Fraser may lose out on tens of millions of pounds after the chain was snapped up by Sports Direct for £90 million last week.

14/08/2018 07:15 AM
MARKET REPORT: Chemring shareholders dash to sell after tragic explosion at its Wiltshire plant
Work at the plant near Salisbury, which accounts for about 15 per cent of the company's sales, has been suspended during a key period, with no date yet for production to restart.

14/08/2018 01:58 AM
More than £8bn is wiped off chemicals group Bayer as court rules weedkiller Roundup caused cancer
Shares in pharma and chemicals giant Bayer fell 11 percent on the stock market in Frankfurt, Germany – slashing its value from $99billion to $88billion.

13/08/2018 09:23 PM
Musk: I HAVE got the money to buy Tesla... and most of it has come from Saudi Arabia
After days of speculation about how a buyout could work, the billionaire published details of a series of talks he had with the oil-rich country's sovereign wealth fund in a 1,100-word blog.

13/08/2018 09:18 PM
Insurance tycoon Sir Peter Wood looks set for a £350m windfall as Esure faces a sell-off
The company, which was set up by Wood in 2000 and owns the Sheilas’ Wheels brand, is in talks about a possible takeover by Bain Capital worth 280p a share.

13/08/2018 09:17 PM
DAILY BRIEFING: Avesoro Resources produces more than three times as much gold
The budget retailer said its six-piece skincare range will 'inject some everyday luxury' into beauty routines.

13/08/2018 08:44 PM
IN THE MONEY: IG Group's CEO sees his pay double to almost £3m thanks to record sales
Peter Hetherington, chief executive at Europe's largest online trading site since December 2015, was paid a salary of £575,000, £93,000 in benefits and stock awards worth £2.3million.

13/08/2018 08:39 PM
A £130m legal showdown looms as it's claimed that mobile firms joined forces to sink Phones 4U
PwC, administrators of the High Street phone retailer which went bust four years ago, are looking into whether O2, EE and Vodafone co-ordinated moves to end contracts with the chain.

13/08/2018 08:39 PM
Fox offers Sky boss Jeremy Darroch a lucrative share deal to stay on
Darroch and chief operating officer Andrew Griffith would be handed stock in Fox if the US firm succeeds in buying Sky.

13/08/2018 02:51 PM
Insurer Esure sees its shares jump more than 30% on possible takeover
Private equity firm Bain is offering 280p per share, a 37 per cent premium on the closing share price of 204 pence on August 10.