• Markets

    Trump's tariffs explained: What are they, how has the world reacted and what are the implications for Britain and global trade?

    Donald Trump's administration last night imposed new trade tariffs on steel and aluminium imports into the US on the EU, Canada and Mexico.Here we explain all the key issues and the implications at stake.What has Donald Trump's government done?The US government has announced it will begin imposing steel and aluminium tariffs on US allies Canada, Mexico and the European Union.Canada, Mexico and the EU together exported around £17billion worth of steel and aluminium to the US in 2017, equating to nearly half of the total steel and aluminium imports. New tariffs: Donald Trump's government has imposed new trade tariffs on steel ...

    9029
  • Markets

    FTSE LIVE: Markets bounce back from Trump's steel tariff triggered dip; Fresh fears over health of Germany's biggest bank after its credit rating is cut

    The FTSE 100 was well into the green on Friday morning as markets bounced back from a slide yesterday triggered by the announcement that Donald Trump has carried out his threat to impose steel tariffs on a number of countries including the UK and the rest of the EU. Another major focus for investors today is the health of Germany's biggest lender, Deutsche Bank after credit rating agency S&P cuts its rating.

    9029
  • Markets

    DAILY BRIEFING: Netflix announces plans to push into comic book publishing, with its first series called The Magic Order

    COMIC FIRST Video streaming website Netflix is to push into comic book publishing. The US tech firm said The Magic Order will span six issues and be written by Mark Millar. PROBE LAUNCHED Energy regulator Ofgem is investigating suppliers Economy Energy and E (Gas and Electricity) as well as consultancy firm Dyball Associates over claims they breached competition law. Ofgem alleges that in 2016, the three firms had a deal that prevented the two suppliers targeting each other’s customers.ELECTRIC DREAM Catalytic converter maker Johnson Matthey is setting its sights on electric vehicles, as profit fell 31per cent to £320million.  Video streaming website ...

    9029
  • Markets

    MARKET REPORT: Shares at Card Factory sink 9% amid backlash from investors over its new pay policy

    Despite sales slumping in the first quarter, Card Factory is pressing ahead with plans to open up to 50 stores this year.The greeting card retailer was the latest victim of the ‘Beast from the East’, reporting a 0.4per cent drop in like-for-like sales in the three months to April 30 as the cold kept shoppers at home.Overall, group sales were up 3per cent, boosted by the opening of ten stores in the first four months of the year. Despite sales slumping in the first quarter, Card Factory is pressing ahead with plans to open up to 50 stores this year The ...

    9029
  • Markets

    Train and bus operator FirstGroup's shares crash and boss departs after it slumps to a huge loss

    Shares in FirstGroup fell as much as 13 per cent today after the company slumped to a loss and dumped its chief executive.The company, which owns Great Western Railway and US bus operator Greyhound, said it lost £327million in the year to the end of March. That compares to profit of £152.6million last year.It also announced the immediate departure of chief executive Tim O'Toole, who is being replaced by Wolfhart Hauser, who will become executive chairman.  Loss: FirstGroup made a £327million loss in the year to the end of MarchMatthew Gregory, the chief financial officer, will also take on the ...

    9029
  • Markets

    FTSE LIVE: Markets continue to climb back as Italy crisis fears ease; UK consumer confidence edges higher in May

    Shares continued to tick back up from the plunges seen on Monday and Tuesdays as the political situation in Italy seemed to stabilise for the time being. While the issue of who is going to run Italy and what that means for a potential exit from the eurozone is far from resolved, there appears to be some progress in talks between the various parties.Over in the UK a closely watched consumer confidence tracker has ticked higher in May, but the levels still remain at a relatively low ebb overall.  

    9029
  • Markets

    Burberry boss snaps up £1.2m of shares with price up 11% as his strategy begins to bear fruit

    Burberry chief executive Marco Gobbetti has splashed out on £1.2million worth of shares.The 58-year-old Italian picked up 60,000 shares in the British luxury fashion house at around £20 each.Gobbetti joined Burberry in July, taking over from long-standing boss and designer Christopher Bailey who is leaving this year. Fashion stakes: Burberry boss Marco Gobbetti, left, has splashed out on £1.2m in sharesHis growth strategy involves closing stores, focusing more on its leather handbags and taking the brand more upmarket. Burberry also made ex-Givenchy designer Riccardo Tisci its chief creative officer this year. Tisci, 43, is a former colleague of Gobbetti, who was ...

    9029
  • Markets

    De La Rue's failed £3.7m bid to continue making British passports as profits slide

    De La Rue spent £3.7m on its failed bid to continue making British passportsSecurity printer and paper maker De La Rue spent £3.7million on its failed bid to continue making British passports.It lost the contract to Franco-German rival Gemalto this year and did not appeal despite warning it could damage jobs.Chief executive Martin Sutherland, 49, downplayed the impact as he said full-year profits slid 11pc to £62.8million. He said: ‘The UK passport contract is one of about 40 contracts that we have. ‘OK, it’s quite large but our international ID business has actually progressed really well. So we are going to learn ...

    9029
  • Markets

    Rolls-Royce ramps up efforts to fix problem aircraft engines and stave off growing frustration from airlines

    Some Trent 1000 engines powering Boeing 787s started deterioratingRolls-Royce is ramping up efforts to fix aircraft engines, to stave off growing frustration from airlines.It has trebled the amount of engines it can fix at any one time to 20 and is racing to complete checks on hundreds of planes around the world ahead of a June 9 deadline.The engineer is under huge pressure after some Trent 1000 engines powering Boeing 787s started deteriorating. Some airlines changed routes to keep planes closer to airports, while around 34 are on the ground waiting to be fixed.Around 200 engineers have been redeployed to ...

    9029
  • Markets

    DAILY BRIEFING: US economy slowed more than initially thought in first quarter of the year

    US gross domestic product increased at a 2.2 per cent annual rateSLOWING UP The US economy slowed slightly more than initially thought in the first quarter of the year. Gross domestic product increased at a 2.2 per cent annual rate, the Commerce Department, instead of the previously reported 2.3 per cent pace. The economy grew at a 2.9 per cent rate in the fourth quarter of last year.SENTENCE PLEA The former head of China’s sprawling Anbang Insurance Group Wu Xiaohui is appealing against his sentence of 18 years in prison for fraud.The Shanghai No 1 intermediate people’s court said Wu pleaded guilty to ...

    9029
  • Markets

    A bright spot in UK retail: Shoppers on the lookout for bargains help discount chain B&M to a jump in profit

    Budget retailer B&M saw its annual profits rise by 25.4 per cent to £229.3million, as cash-strapped consumers turned to the chain for everyday essentials.In the year ending 31 March, the group's revenues increased by 22.4 per cent to £3billion.The company's billionaire boss, Simon Arora, said the group was performing well because it is 'highly relevant for the current difficult economic environment.' Growing fast: Budget retailer B&M saw its annual profits rise by 25.4 per cent to £229.3millionHe added: 'The business is well placed for continued profitable, long-term growth. In a retail sector beset by structural challenges B&M's unique, disruptive model stands out ...

    9029
  • Markets

    London-focused housebuilder Telford Homes enjoys bumper sales and profits amid rising demand from Chinese investors

    Demand at the 'more affordable' end of London's housing market has helped housebuilder Telford Homes boost its sales and profits.In the last year, the London-focused developer enjoyed record revenues of £316.2million, up from £291.9million a year earlier.Profits rose by 35 per cent to £46million, with the group claiming interest from build to rent investors, from both the UK and overseas, remained strong. Growth: Demand at the 'more affordable' end of London's housing market has helped housebuilder Telford Homes boost its sales and profitsTelford's typical properties in London are priced at around £539,000, compared to £527,000 a year earlier. The group said it ...

    9029
  • Markets

    Royal Bank of Scotland's finance chief resigns unexpectedly as ministers gear up to sell £3bn stake in the bank at a loss to taxpayers

    Royal Bank of Scotland's chief financial officer Ewen Stevenson has unexpectedly resigned from the bank.Details of his next move are sparse, and all is known is that Mr Stevenson will 'take up an opportunity elsewhere.'While it it not known when the finance chief will leave the bank exactly, a search for a replacement will begin straight away with an 'orderly handover' being hoped for. Stepping down: Royal Bank of Scotland's chief financial officer, Ewen Stevenson, has unexpectedly resigned from the bankGovernment ministers are reportedly preparing to sell a £3billion stake in RBS this week, putting it on the final path to ...

    9029
  • Markets

    MARKET REPORT: Merger talks between engineer Smiths Group and U.S. rival ICU Medical buck the gloom on FTSE

    One of Britain’s biggest engineering firms provided investors with a much-needed boost on what was a miserable day for the FTSE 100.Smiths Group confirmed it is in early-stage talks with US rival ICU Medical, which is worth more than £4.2billion, about a mega-merger involving both of their medical device businesses.The FTSE 100 industrial giant has reportedly been scouting out options for its medical unit for some time. One of Britain’s biggest engineering firms provided investors with a much-needed boost on what was a miserable day for the FTSE 100California-based ICU makes pumps and needles used in the treatment of cancer. ...

    9029

Celebrity News

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

SUBSCRIBE

quotes

Everyone went outside to smoke cloves and bitch about having to stay after for the State.

Jon Stewart on events following Charles — January 19, 1999