Marks & Spencer’s profits plunge
Renowned UK retail giant Marks & Spencer pays costs of store closures but maintains the dividend. The company says start of its transformation plan is “well under way”.
Shares down after Sainsbury hails “return to growth”
Full-year figures from British retailer Sainsbury fail to cheer investors. Its next hurdle is to persuade competition authorities to allow a £15 billion merger with rival Asda.
Unilever shares fall despite solid start to the year
First-quarter figures for global consumer giant Unilever show sales up but prices flat. Investors marked the shares down despite upbeat talk from the chief executive.
AA shares cheered by 41 per cent profit jump
Britain’s biggest motoring organisation slashes its dividend as it steps up investment. New chief executive puts boardroom turbulence of last year behind the AA.
Tesco bounces back with full-year profit surge
UK-based retail giant Tesco pays first end-year dividend in four years after 12 months of “strong progress”. Underlying operating profits rose 28.4 per cent in the year to February 24.
US update: Market rally, techs lead, General Mills in $8bn deal for Blue Buffalo
Stock prices advanced broadly on Friday as investors stepped up their buying shrugging off recent interest rate and inflation worries.
Geely owner acquires 10% stake in Daimler
Li Shufu, the principal owner of Chinese auto group Zhejiang Geely, has purchased a 10% stake in automaker Daimler.
VW shares slip on mixed outlook
Volkswagen shares slipped 0.8% on Friday after the company warned profits could be hit this year due to rising investment in electric cars and new product launches.
PM update: IAG and RBS shares slump, VW profits climb, US shares up
There was little cheer from the FTSE 100 earlier, sinking -0.30% as IAG shares lost altitude, down -5.5%.
BMW to build all-new electric Mini in China
BMW is set to build an all-new electric Mini in China in a new joint venture with Chinese company Great Wall.
General Mills to buy Blue Buffalo in $8bn deal
US-based food group General Mills is to acquire luxury dog food maker Blue Buffalo Pet Products in an $8bn deal.
Tesla’s electric trucks could soon pay off, says DHL
Tesla’s electric trucks could soon pay off, according to German juggernaut Deutsche Post DHL – the world’s biggest logistics company.
BlackRock quizzes gun firms after shooting
Investment giant BlackRock has said it will be “engaging with weapons manufacturers and distributors to understand their response to recent events”.
Persimmon bosses take £51m bonus cuts after shareholder revolt
Bosses at UK house-builder Persimmon are to take cuts to their bonuses worth £51m after criticism from shareholders.
Standard Life Aberdeen sells insurance business to Phoenix
Standard Life Aberdeen, the newly merged fund management business, is to sell its insurance arm to Phoenix Group in a £3.2bn deal.