World Business News - Global Stocks and Finance

The US will cost you the most for treatment, while life expectancy of Americans – about 79 years – was exceeded by more than 25 countries and territories, according to an annual Bloomberg analysis in almost 200 economies (stock picture)

Health and wealth: Ireland in top 25 as Hong Kong and Singapore lead way for efficiency

Want medical care without quickly draining your fortune? Try Singapore or Hong Kong as your healthy havens.

Diageo faces €50m profit hit from currency fluctuations

Diageo shares were up slightly in afternoon trading in London yesterday despite the company warning that its sales and profits would be impacted by currency volatility.

The world economy is on course for growth this year of 3.7pc - up from 3.6pc last year, said the Organisation for Economic Co-operation & Development (OECD) (stock picture)

OECD cuts global growth forecast as trade tensions bite

Global economic growth has peaked in the face of rising trade frictions and emerging market turbulence, the OECD said yesterday, trimming its earlier outlook.

Uber reported to be in early talks to buy Deliveroo

Ride-sharing firm Uber is said to be in early discussions to acquire food-delivery company Deliveroo for several billion dollars, according to sources familiar with the plans.

Emirates in talks to acquire Etihad - aviation sources

Approach: The bar area of an Airbus A380 owned by Emirates, which sources say is keen to acquire neighbour

Emirates in talks to acquire Etihad - aviation sources

Dubai's flagship airline Emirates is looking at taking over unprofitable neighbour Etihad, according to four people familiar with the matter, in a move that would create the world's biggest carrier by passenger traffic.

British American Tobacco (BAT) CEO Nicandro Durante is stepping down next year (stock picture)

Tobacco giant BAT on hunt for new chief executive

British American Tobacco (BAT) CEO Nicandro Durante is stepping down next year as the cigarette industry confronts rising competition from other nicotine products and US regulatory pressure on electronic cigarettes.

European Justice Commissioner Vera Jourova said she will discuss the Danske Bank case with the finance ministers of Denmark, Finland and Estonia on October 2 (stock picture)

Danske Bank in fresh money laundering probe after CEO quits

Danske Bank faces a new Danish investigation into alleged money laundering a day after revealing payments totalling €200bn through its Estonian branch, many of which were suspicious.

The pan-European STOXX 600 was up almost 0.7pc near the close (stock picture)

European stocks extend advances

European shares extended their rally on Thursday as investors set aside fears over a US-China trade war and focused instead on bullish macroeconomic and corporate news.

Aryzta in battle to limit US customer's damages claim

Tennessee-based McKee Foods has lashed out at efforts by Swiss-Irish baked goods group Aryzta to try to limit potential damages sought by the US firm after it terminated a manufacturing agreement with the embattled group.

Losses increase at French Connection amid 'difficult trading conditions'

Fashion retailer French Connection has reported a pre-tax loss of £15.1m (€17m) for the six months to July 31, against losses of £5.9m a year earlier.

Staff at Orla Kiely stores 'left in tears' after closure

A 1965 Aston Martin DB5 driven by Pierce Brosnan as James Bond in the 1995 film GoldenEye (John Stillwell/PA)

Aston Martin targets £5bn valuation with London IPO

Luxury carmaker Aston Martin is aiming for a £5bn (€5.6bn) valuation when its shares begin trading on the London Stock Exchange next month.

The Guinness Storehouse at St James's Gate in Dublin

Diageo expects €50m hit to profits from currency volatility

Drinks giant Diageo has said that it expects net sales and operating profit to take a hit of £175m (€197m) and £45m (€50.6m) respectively as a result of foreign exchange volatility.

Island living: Home prices in Malta recorded a 17pc year-on-year increase in the three-month period to the end of June, according to Knight Frank’s Global House Price Index

Malta beats out Hong Kong for world's top home-price gains

Malta has edged out Hong Kong to take the prize for territory or country with the highest residential price gains in the June quarter, according to a Knight Frank LLP Global House Price Index...

Meltdown: The offer of a free BMW 3 Series for buyers of townhouses in Shanghai is just one of a number of incentives being rolled out by developers in cities across China

Free BMWs on offer as Chinese builders hunt for homebuyers

Chinese property developers are offering free luxury cars and hefty discounts to lure buyers as lending curbs and funding constraints squeeze their finances.

Sign of the times: Workers unveil the branding at Tesco’s new discount supermarket Jack’s in Chatteris, England. Photo: REUTERS/Chris Radburn

Tesco takes on Aldi and Lidl as new store Jack's to be 'cheapest' in Britain

Tesco has launched a new store called Jack's as it attempts to take the fight to German discounters.

US President Donald Trump with Xi Jinping, China’s President. Photo: Bloomberg

Investors shrug off US-China trade fears

World stock markets broadly rose for a second straight day yesterday, while safe-haven assets such as US bonds and the Japanese yen slipped to multi-week lows, on bets the ongoing US-China...

Chief of Denmark's largest bank resigns amid money laundering scandal

The chief executive of Denmark's largest bank has resigned amid findings of possible money laundering.

Retail profits fall 14pc at B&Q owner

Group retail profits at B&Q owner Kingfisher fell 14pc year-on-year to £404m (€455m) in the six months to 31 July.

Investor: California-based Franklin Templeton fund manager Michael Hasenstab

Emerging markets rout near turning point - Templeton

Franklin Templeton Investments says the rout in emerging markets may be nearing a bottom - though there are still countries, such as the Philippines, that will suffer.

Trade war: Trump slaps 10pc tariff on $200bn of Chinese goods

The Trump administration has announced that it's imposing a 10pc tariff on $200bn (€171bn) of Chinese goods, which Beijing has already said it will retaliate against.

Dollar falls for second day as trade war escalates

The dollar fell for a second consecutive day and the euro gained on Tuesday after US President Donald Trump escalated his trade war with China by imposing 10pc tariffs on about $200bn worth of...

Asian shares slugged by new US tariff threat

Most Asian share markets slid on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.

Boohoo is bringing in a Primark executive as its new CEO (PA)

Primark chief operating officer to takeover at Boohoo

Online fashion retail group Boohoo has announced the appointment of John Lyttle as CEO with effect from 15 March 2019.

China won't just play defence in trade war, Global Times warns

China will not be content to only play defence in an escalating trade war with the United States, a widely read Chinese tabloid warned, as President Donald Trump was expected to announce new...

Cignal CEO Colm Cunningham. Photo: Paul McCarthy

Telecom towers investor Cignal ups financing to €65m

Telecommunications infrastructure provider Cignal has refinanced and expanded a debt facility to €65m, giving it headroom to invest in new telecoms and broadband communications towers.

Tech and healthcare lift US stocks

Gains in the tech and healthcare sectors helped to propel US stocks higher for a fourth day in early trading yesterday.

Activist investor Joos demands Aryzta sell assets and slash costs

A Swiss activist investor is mounting a campaign to block Aryzta's €800m capital increase, arguing the troubled McDonald's bun maker should instead sell assets and slash management layers, according...

Uber drives up profits in Ireland to €600,000

Pre-tax profits at the Irish arm of Uber last year increased by 28pc to €607,203.

‘Anti-money laundering supervision has failed all too often in the EU,’ said Valdis Dombrovskis, the commissioner in charge of financial services policy. Photo: Bloomberg

EU urges centralised structure to tackle money laundering

The EU plans to hand more powers to its top banking regulator after high-profile money-laundering cases involving some of the region's biggest lenders.

China told the World Trade Organisation (WTO) it wanted to impose $7bn a year in sanctions on the United States in retaliation for non-compliance with a ruling in an earlier trade dispute. (stock picture)

US-China spat saps global confidence

Fresh sparring between Washington and Beijing over trade kept up pressure on world markets yesterday, with equities struggling and emerging currencies mostly weaker, led by the Indian rupee hitting a record low.

Cryptocurrency investors who betted big on a seemingly revolutionary technology are suffering a painful reality check. (stock picture)

Crypto worse than dotcom bust

The Great Crypto Crash of 2018 looks more and more like one for the record books.

Cyber attacks cost German industry €43bn - study

Two thirds of Germany's manufacturers have been hit by cyber-crime attacks, costing industry in Europe's largest economy some €43bn, according to a survey published by Germany's IT sector...

The euro slipped after the report and traded at $1.1589 at 12.22pm Frankfurt time. Stock image

Euro-area growth tipped to slow down this year

The European Central Bank (ECB) is set to tweak its forecasts lower for euro-area economic growth as global trade tensions damp external demand, according to officials familiar with the latest...

Sports Direct chairman Keith Hellawell (Joe Giddens/PA)

Sports Direct chairman Keith Hellawell to step down following AGM

Keith Hellawell will retire from Sports Direct following Wednesday's AGM. He will be replaced as chairman by David Daly, who is currently a non-...

Spoiled for choice: France has trio of potential candidates for Draghi’s ECB job waiting in wings

If French President Emmanuel Macron decides to put forward a candidate to succeed Mario Draghi as head of the European Central Bank (ECB), he’ll...

ING's chief financial officer quits following money laundering scandal

The chief financial officer of Dutch bank ING has resigned following a money laundering scandal that led to a huge fine for the bank.

England fans watch Croatia v England - Trafalgar Square, London,

Net profits: Weather and World Cup lift UK economy

The United Kingdom economy looks to be on track for its best quarter since late 2016, its National Institute of Economic and Social Research (NIESR) estimated yesterday.

Traders work on the floor of the New York Stock Exchange (NYSE)

Banks push European shares higher

European shares inched up yesterday as banks gained, although trade-exposed sectors like cars suffered after US president Donald Trump raised the stakes in the trade dispute with Beijing.

Unilever CEO Paul Polman has recommended the move

Unilever confirms December date for headquarters shift from London to Rotterdam

Consumer goods giant Unilever has confirmed it expects to ditch London as the base of its legal headquarters in December as it prepares to shift...

Aston Martin appoints former RBS director as chairman ahead of October IPO

Aston Martin has appointed former Royal Bank of Scotland director Penny Hughes as its new chairman as the British sports car maker charges ahead...

Debenhams last month said it would swing the axe on up to 90 staff at its fashion and home departments (Peter Byrne/PA)

Debenhams shares plunged 17pc after KPMG called in to help with emergency rescue plans

Debenhams shares plunged 17pc after KPMG was called in to help draft emergency plans to save the troubled retailer.

Domhnal Slattery, chief executive of aircraft leasing firm Avolon

Jet leasing boss warns of 'all-in turmoil' from US trade war

The continuing trade wars between the US, China and Europe could lead to "all-in economic turmoil" if they result in a wider currency crisis, according to Domhnal Slattery, the chief executive of the...

The group operates a network of more than 45 hospitals and other care facilities across eight countries and last year provided services to 5.8 million patients. Stock Image

Share watch: Middle Eastern health boom helps NMC map out growth

Even the most self-proclaimed nerds on 'University Challenge' would have a problem with the following question: which was the best-performing share on the London Stock Exchange last year?...

UK economy bounces back in July as construction output hits record high

The UK economy bounced back in July as the services sector rebounded and construction output reached a record high.

US judge orders return of developer Garrett Kelleher's passport

A US judge has ordered that the passport of Irish property developer Garrett Kelleher be returned to him.

Go-Ahead’s operations in Dublin are due to commence this weekend with one route. Stock image

Shares in UK transport firm with Irish bus contracts soar

Shares in Go-Ahead Group, the UK transport company that has secured contracts to operate bus services in Dublin and to counties including Laois, Offaly, Kildare and Meath, soared as much as...