World

Operating profit jumps at Greencore, helped by growth in food to go categories

Irish food group Greencore has seen its adjusted operating profit jump 20pc in the 12 months to September 24, helped by a return to growth in food to go categories.

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Shortlist of four for top job at Bundesbank

Olaf Scholz’s Social Democrats in Germany have narrowed their shortlist on who to name as Bundesbank president to four candidates, including Joachim Nagel and Isabel Schnabel, according to a person familiar with the party’s thinking.

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Travel-sector stocks lead as shares regroup after $2trn Omicron rout

There were strong gains for some of the Irish stock market names potentially most exposed to a fresh lockdown, with travel names like Ryanair and hotel operator Dalata as well as office investor Hibernia Reit up sharply.

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Europe’s excess cash-pile spilling over into US money markets

Europe’s increased pile of spare cash now appears to be flooding into US money markets, which were already dealing with a glut of their own that’s been distorting borrowing costs.

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French tollroad giant Vinci and local partner Limak bid to operate Turkey’s Antalya airport

French builder and toll-road giant Vinci and Ankara-based Limak Holding plan to bid jointly for a 25-year concession to operate Turkey’s third-busiest airport hub in Antalya.

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Stocks, oil rebound as calm returns after Omicron hit

A semblance of calm returned to world markets on Monday as investors waited for more details to assess the severity of the Omicron coronavirus variant on the world economy, allowing battered stock markets and oil prices to recover.

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BT jumps 9pc after reported interest from India’s Reliance Industries

Shares in BT jumped as much as 9pc on Monday after India's Economic Times said Reliance Industries was weighing a bid for the British telecoms group.

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Euro zone bond yields drop on significant Covid variant

Euro zone government bond yields dropped sharply across the board on Friday as investors reacted to a newly-identified coronavirus variant spreading in South Africa by piling into safe haven assets.

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Paul Coulson’s Ardagh buys glass packaging group in deal valued at €900m

Paul Coulson’s Ardagh Group is buying South African company Consol Holdings for a value of approximately €900m.

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Pound plummets as wary investors look to euro and dollar

Sterling fell yesterday to a fresh 2021 low against the dollar and to a nine-day low versus the euro as worries over economic growth outweighed expectations for a Bank of England rate hike.

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Bond yields slip after sharp increase ahead of possible ECB rate hike

Eurozone bond yields fell for the first time in three sessions on Thursday as investors kept their focus on messaging from the European Central Bank.

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Mind the Gap: Retailers struggle to meet sales targets due to global supply crisis

Shares in US retail giants Gap and Nordstrom tumbled after both reported disappointing results, adding to a series of worrisome retail earnings and renewing concerns over the global supply-chain crisis.

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Lira crashes to record lows piling inflationary pressure on Turkey

Turkey's lira clawed back some losses yesterday after a 15pc crash to record lows a day earlier driven by President Tayyip Erdogan's defence of rate cuts, but volatility and steep price rises still worried consumers and investors.

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Gallery

Top ‘climate funds’ not delivering on ecology promises, new report claims

Some of Europe’s most popular climate funds have been found to do no better at avoiding carbon emitters than a benchmark index with no environmental focus, according to new research.

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Buyout giants join the battle for data centre firm Global Switch

Buyout firms Blackstone and KKR are among suitors weighing bids for data centre company Global Switch, as the battle for digital infrastructure assets heats up, according to people familiar with the matter.

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Oil, mining stocks help European shares rebound from losing run

European shares rebounded on Wednesday after a four-day losing streak, as higher commodity prices helped offset fears around Europe's worsening Covid-19 situation and the prospect of severe restrictions.

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EU clears path for tougher antitrust laws on big tech ‘gatekeepers’

A key committee of EU lawmakers has agreed to tougher laws targeting Amazon, Apple, Alphabet unit Google and Facebook, earning a thumbs-up from EU antitrust chief and architect of the idea Margrethe Vestager.

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AIB to sell SME portfolio in Britain

AIB has confirmed that it is selling its small and medium business (SME) loans in Britain in a move that will see it reduce staff numbers and save costs.

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Gallery

Markets up as Joe Biden sticks with Jerome Powell to lead the way at Federal Reserve

Traders, strategists and money managers were virtually unanimous in welcoming four more years for Jerome Powell, selected yesterday for another term as chair of the Federal Reserve.