Journalists

UK says 88pc of imports to face no tariffs in event of no-deal Brexit 

The UK published a revised temporary tariff regime on Tuesday to come into force if it leaves the European Union without a deal, saying that 88pc of total imports by value would be eligible for tariff free access.

EasyJet expects profit to be at the top end of forecasts 

Budget airline EasyJet has hailed solid trading in the final quarter as demand was driven higher by strikes at rival airlines Ryanair and British Airways.

Hong Kong drops LSE takeover bid 

Hong Kong Exchanges and Clearing (HKEX) has dropped its £32bn (€36bn) takeover approach for the London Stock Exchange Group (LSE).

HSBC to slash up to 10,000 jobs – FT 

HSBC Holdings is planning to cut up to 10,000 jobs, more than 4pc of its workforce, as interim chief executive officer Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday.

Ted Baker slumps to €25.8m loss 

Ted Baker has slumped to a £23m (€25.8m) loss in the six months to August 11, as bosses said restructuring the fashion brand's Asia businesses, heavy promotions in the UK and the scandal that led to the resignation of founder and chief executive Ray Kelvin all took their toll.

China September exports, imports in deeper contraction as tariffs take toll 

A slide in China's exports picked up pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-US trade war drags on.

FTSE falters as Brexit hopes lift pound, offsetting good trade signals 

Britain's exporter-heavy FTSE 100 lagged a trade sentiment-induced rally in global stocks on Friday, as hopes that a Brexit deal may be clinched by the end of the month lifted the pound and hit international firms.

Fast-fashion retailer Quiz sees its sales stumble 

Fast-fashion retailer Quiz has stumbled to lower sales in the first half of the year on the back of "very challenging" high street conditions.

EU removes UAE, Switzerland from tax haven lists 

European Union finance ministers agreed to remove the United Arab Emirates (UAE) and Switzerland from the bloc's lists of countries deemed to be acting as tax havens, according to a statement on Thursday.

Ladbrokes owner gets boost from online betting 

Ladbrokes owner GVC Holdings has said online gaming growth means the gambling firm's earnings for 2019 will be higher than previously forecast but held firm on plans to shut 900 stores over the next two years.

Tesco CEO to step down 

Supermarket giant Tesco has said chief executive Dave Lewis plans to step down next summer.

FTSE drops for 5th straight day after slew of profit alerts 

London's FTSE 100 fell for the fifth straight session on Thursday as profit warnings from tobacco firm Imperial Brands, Aer Lingus owner IAG and education company Pearson weighed down the blue-chip index.

Sofa chain DFS sees profits jump, warns on Brexit 

Sofa chain DFS Furniture has reported a 31pc hike in underlying annual profits but cautioned over "subdued" recent trading amid Brexit uncertainty and a slowdown in the housing market.

JD Sports defies high street trends with jump in sales 

JD Sports has defied the high street gloom by revealing a 10pc jump in like-for-like sales in the UK and Ireland for its stores.

Recession risks rise for Germany as industrial orders plunge 

German industrial orders fell more than expected in July on weak demand from abroad, data showed on Thursday, suggesting that struggling manufacturers could tip Europe's biggest economy into a recession in the third quarter.

London leads European markets lower as investors play waiting game 

London-listed stocks pushed European shares lower in early dealings on Tuesday, but signs of easing trade tensions between United States and China limited market losses.

European stocks tumble on trade war blows 

Technology stocks led a tumble in European equities in early deals on Monday as investors fled from riskier assets after another exchange of blows by the United States and China over trade at the end of last week.

Nearly 100 companies move to Netherlands ahead of Brexit - Dutch agency 

Nearly 100 companies have relocated from Britain to the Netherlands or set up offices there to be within the European Union due to the United Kingdom's planned departure from the bloc, a Dutch government agency said on Monday.

Mulberry poaches Ted Baker’s numbers man 

Ted Baker's finance director is to leave the company after 17 years to join luxury brand Mulberry.

European shares steady on upbeat PMI data, Italy jumps 

European shares traded close to flat on Thursday as upbeat surveys on Germany and the euro zone offset signs that US policymakers had not intended to start a cycle of interest rate cuts with last month's move.

Aldi named top Irish brand for reputation 

Discount supermarket Aldi has been crowned Ireland's top brand for reputation and value in research from polling group YouGov.

Fiat-Renault deal hopes lift European shares 

European shares rebounded from the previous session's sharp falls on Wednesday, with brokers pointing to an Italian report on continuing merger talks between Fiat Chrysler and Renault as pushing car industry shares higher.

Hammerson names AIG exec as new CFO 

Hammerson, which owns half of the Dundrum Town Centre, has appointed AIG executive James Lenton as its new finance chief, months after saying Timon Drakesmith would step down from the role this year.

Euro zone rates edge lower amid ongoing easing expectations 

Euro zone rates edged lower on Tuesday as markets continued to focus on the prospect of fiscal stimulus in Germany and verbal easing from ECB policymaker Olli Rehn.

Harland and Wolff administrators provide extra time to explore rescue options 

The administrators of Harland and Wolff in Belfast have allowed further time to explore potential rescue deals for the famous shipyard.

Ted Baker ends relationship with Debenhams 

Ted Baker has ended its relationship to create and sell clothes and accessories for children with Debenhams, opting to work with Next for five years instead.

Ladbrokes owner pushes profit forecast higher 

Ladbrokes owner GVC pushed its profit forecasts higher as its UK high street stores performed strongly despite the clampdown on Fixed Odds Betting Terminals (FOBTs).

TUI counts cost of grounded Boeing planes 

Holiday giant Tui has reported a 46pc plunge in underlying earnings after taking a hit from the grounding of Boeing's 737 Max 8 aeroplane.

Thomas Cook in advanced talks over extra £150m funding for rescue deal 

Troubled travel company Thomas Cook is in advanced talks to raise £150m (€161m) from bondholders after making "progress" over the terms of a rescue deal.

UK economy declines for the first time since 2012 

The UK's economy shrank for the first time since 2012 in the second quarter of this year, as the manufacturing and construction sectors both slumped.

China surprises with best export growth since March, but imports remain weak 

China's exports unexpectedly returned to growth in July on improved global demand despite escalating US trade pressure, but the rebound may be short-lived as Washington prepares to slap even more tariffs on Chinese goods.

Dominos CEO and chairman to quit the company 

David Wild, chief executive of Domino's Pizza, and chairman Stephen Hemsley have both announced they plan to quit the company, the takeaway business has revealed.

Boohoo makes offer for Karen Millen and Coast 

Fast fashion online retail giant Boohoo confirmed it has made an offer to buy high street brands Karen Millen and Coast from Icelandic bank owners Kaupthing, but said the bid "may or may not result in agreement of a transaction".

Stocks rout deepens as US sets crosshairs on yuan 

Global stocks extended already substantial losses on Tuesday, after Washington tagged China a currency manipulator, shaking fragile investor sentiment in a rapid escalation of the US-China trade war.

Aston Martin swings into €86m loss 

Luxury carmaker Aston Martin Lagonda has swung to a £78.8m (€86m) loss in its first half as it said the "more challenging global" economy was impacting the firm.

No-deal Brexit worries push Irish bond spreads to widest in over a month 

Irish government bond yield spreads over Germany hit their widest levels in over a month on Tuesday, as worries grow over the potential impact of a no-deal Brexit on Europe in general and Ireland in particular.

Huawei posts 23pc revenue growth amid US sanctions 

China's Huawei Technologies said on Tuesday revenue in the first half of the year grew 23.2pc - faster than a year ago - despite an intense United States campaign against it that ultimately became a trade ban from mid-May.

Greggs' vegan sausage rolls drives 58pc rise in profit 

Greggs, the British baker and food-on-the-go retailer, posted a 58pc rise in first-half profit on Tuesday, driven by a boost to sales from the popularity of its vegan sausage rolls.

Lufthansa second-quarter earnings fall on rising fuel costs and price wars 

German airline Lufthansa has posted a decline in second-quarter earnings, hurt by price competition on short-haul routes and rising fuel costs, adding the European market would likely remain challenging until at least the year’s end.

Deal-hungry Takeaway.com delivers €9bn Just Eat takeover 

Amsterdam-based online food delivery firm Takeaway.com has agreed to buy Just Eat in an all-share deal valuing the combined group, which will be one of the sector's largest, at about £8.2bn (€9bn).

Nissan to cut 12,500 jobs as quarter one profit nearly wiped out 

Nissan said on Thursday it would slash 12,500 jobs globally by 2022 and cut output to rein in costs as it suffers from sluggish sales and rising costs and tries to recover from a scandal surrounding ousted chairman Carlos Ghosn.

Guinness owner benefits from gin demand 

Guinness owner Diageo has posted a rise in profits for the year as the gin boom continued to drive sales growth in the UK.

ITV revenues and earnings tumble despite Love Island boost 

ITV has reported a fall in revenues and earnings for the past six months, despite hailing a strong performance by Love Island.

Markets latest: Carmakers drive Europe higher, Johnson batters sterling 

A wave of central bank easing and positive soundings from the earnings season buoyed world stocks on Tuesday, while Britain's pound fell before the expected confirmation of hard-Brexit advocate Boris Johnson as the country's prime minister.

Fevertree fizzed to earnings growth in the first half of the year 

Tonic maker Fevertree fizzed to sales and earnings growth in the first half of the year, despite being weighed down by gloomy UK weather.

European debt rally pauses at start of a big week for bond markets 

Core European government bond yields steadied on Monday after posting their biggest weekly drop in seven weeks as investors consolidated positions before a central bank policy meeting this week where policymakers might unveil plans of more rate cuts.

Euro zone bond rally regains momentum on easing hopes 

German 10-year bond yields were set for their biggest weekly drop in seven weeks on Friday, while Italian yields were set for a seventh straight week of declines as expectations for central bank easing bolstered euro zone bond markets.

Boeing to take €4.4bn hit over 737 Max grounding 

Aviation manufacturer Boeing has said it is booking a $4.9bn (€4.4bn) charge to cover possible compensation to airlines that have cancelled thousands of flights since the 737 Max jet was grounded after two deadly accidents.

RBS chief to take over at National Australia Bank 

Ross McEwan, outgoing chief executive of the Royal Bank of Scotland, has been appointed the next boss of the National Australia Bank, the companies have announced.

Asos blames warehouse issues for latest profit alert 

British online fashion retailer Asos warned on profit for the third time in eight months on Thursday, blaming operational issues as it overhauls its warehouses in the United States and Europe.

Amazon in EU antitrust spotlight over use of merchant data 

Amazon on Wednesday became the target of an antitrust investigation by the European Union over its use of merchants' data, underlining the increasing regulatory scrutiny over how tech companies exploit customers' information.

Amazon says it will cooperate with EU antitrust regulator probe 

US online retailer Amazon said on Wednesday that it would cooperate fully with EU antitrust regulators investigating its use of merchants' data.

Worried UK employers call for changes to proposed immigration reform 

A coalition of British industry groups and education bodies, worried by the prospect of Brexit worsening skills and labour shortages, has called for the next prime minister to relax proposed reforms of the immigration system.

Renault forms Chinese electric vehicles venture 

Renault has formed a joint venture partnership with Jiangling Motors Corporation Group (JMCG) to target the Chinese electric vehicles market, in a deal which will also see Renault take a 50pc stake in the new venture.

US property trust Vornado challenges Arcadia's restructuring plan 

Philip Green's fashion empire Arcadia Group said on Tuesday it received applications from legal entities of US-based property group Vornado challenging two of its seven planned Company Voluntary Agreements (CVAs).

Sterling plunges to six-month low as no-deal Brexit worries build 

The pound sank to a six-month low against the euro on Tuesday after a debate between the two candidates vying to be Britain's next prime minister re-ignited worries about a no-deal Brexit.

Luxury fashion label Burberry benefits from weak pound 

Luxury fashion label Burberry benefited from the weak pound as tourists flocked to its UK stores to snap up new designs by its creative director Riccardo Tisci, the company said.

China GDP growth slows to 27-year low as trade war bites 

China's economic growth slowed to 6.2pc in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure.

Sports Direct delays results, guidance could be affected 

Sports Direct has delayed publishing its annual results, blaming problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts, adding this could affect its financial forecasts.

NTMA borrows €1bn at an all-time-low 

Ireland has today borrowed €1bn at an all-time-low as bond investors prepare for a renewed transatlantic stimulus boost.

Bellew steps down as Ryanair COO 

Peter Bellew, Ryanair's chief operations officer, is stepping down from the group at the end of December.

Norwegian Air CEO Bjoern Kjos steps down 

Bjoern Kjos stepped down on Thursday as chief executive of Norwegian Air, the airline said on Thursday.

Euro pinned near three week lows as big US rate cut bets dim 

The euro held near a three-week low against the dollar on Wednesday as investors trimmed expectations of aggressive rate cuts from the US Federal Reserve later this month, pushing US Treasury yields and the greenback higher.

JD Wetherspoon posts solid rise in sales 

JD Wetherspoon has posted a solid rise in sales, bucking the trend in a pub market struggling to beat last year's World Cup summer.

UK’s biggest housebuilder delivers profit cheer as completions jump to 11 year high 

The UK's biggest housebuilder Barratt Developments has upped its full-year earnings outlook after it said completions have surged to an 11-year high.

What Deutsche bankers are saying about the 18,000 global job cuts 

Whole teams within Deutsche Bank AG have been told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.

British Airways set for fine of more than €204m over data breach 

British Airways is set to be fined more than £183m (€204m) by the UK’s Information Commissioner's Office over a customer data breach, the company said.

Jaguar Land Rover to build electric cars at UK plant 

Jaguar Land Rover is making a multi-million pound investment to build electric vehicles in Britain, in a major boost for the UK government and a sector hit by the slump in diesel sales and Brexit uncertainty.

Aer Lingus owner not interested in Norwegian Air 

Aer Lingus and Iberia owner IAG said on Friday it was not interested in Norwegian Air, responding to a Spanish media report that it was planning to make an offer for the budget carrier.

Italy's bond market set for best week in over a year 

Italy's government bond yields were set on Friday for their best week in over a year thanks to heightened expectations of European Central Bank monetary easing soon and relief that Rome has avoided EU disciplinary action over its fiscal position.

Amazon and Deliveroo under investigation by UK competition watchdog 

Amazon and Deliveroo are under investigation by the UK competition watchdog following the US giant buying a significant stake in the food delivery platform.

Penneys owner boosted by jump in sales 

Penneys owner Associated British Foods (ABF) has reported revenue growth in the financial year so far, on the back of a jump in sales for the value fashion retailer.

JD Sports on track to match profit expectations 

JD Sports has said it is on track to at least match its profit expectations for the year, on the back of a raft of new store openings.

US real estate firm CBRE to buy London-focused housebuilder for €299m 

US real estate services firm CBRE has agreed to buy London-focused housebuilder Telford Homes in a deal worth £267.4m (€299m).

European bond markets cheer as EU picks France's Lagarde to head ECB 

Euro zone bond yields hit new record lows on Wednesday after a decision by European Union leaders to pick France's Christine Lagarde as next European Central Bank chief reassured markets that the central bank's dovish stance would remain in place.

Ticket sales at Gilmatin’s Trainline steam ahead in first update since IPO 

Trainline, which headed by Dublin woman Clare Gilmartin, reported a 20pc jump in sales for the past three months in its first trading update since floating on the stock market last month.

Paddy Power commits to do more to help addicts following criticism 

Five of the biggest gambling companies in the UK have committed to a series of measures to address problem gambling, including a major increase in funding for addiction, following criticism from the UK government.

DP World to buy Topaz Energy in €1.2bn deal 

DP World, one of the world's largest port operators, has snapped up Dubai-based offshore vessel business Topaz in a deal worth £1.1bn (€1.2bn).

EU may ease regulations on food from Japan's nuclear disaster region 

The European Union proposed on Thursday easing restrictions on imports of some food from Japanese regions hit by the Fukushima nuclear disaster in 2011, Japanese officials said.

Betting companies hit with fines of almost €22m in the UK 

Betting companies in the UK have paid out £19.6m (€21.8m) in penalties over the course of a year for failing to protect problem gamblers and stop money launderers.

Ryanair to change share buyback plans due to Brexit 

Ryanair will change the way it conducts a €700m share buyback programme due to fears over a no-deal Brexit, the company said.

Oil driller Dolphin declares bankruptcy with $1bn debt 

Norwegian oil and gas rig operator Dolphin Drilling said it would file for bankruptcy on Wednesday after failing to reach a deal with creditors, falling victim to a prolonged downturn in the oil services sector.

Kerry Foods shuts UK factory with the loss of 900 jobs 

Union officials in the UK have described Kerry Foods' planned closure of its factory in Burton-on-Trent, with the loss of 900 jobs, as a "crushing blow" for the area.

Losses widen at fashion chain New Look 

Fashion chain New Look has reported widened pre-tax losses of £522.2m (€584m) for the year to March 30, against losses of £190.2m (€213m) the previous year.

Daimler profit warning weighs on European shares 

A profit warning from Mercedes-Benz maker Daimler dampened European stock markets early on Monday, as investors looked for direction to a keenly awaited G20 summit this week that brings US and Chinese leaders together after a long lull in talks.

European shares hit six week highs after Fed spurs rate cut hopes 

European stocks rose to six-week highs in early deals on Thursday, as signs Brussels will hold off on disciplinary action over Italy's budget added to the latest signals of monetary stimulus on the way from the world's big central banks.

Brexit uncertainty in the UK hits demand at Premier Inn hotels 

Premier Inn owner Whitbread has said UK accommodation sales dropped 4.6pc in its first quarter as Brexit uncertainty hit demand for hotel stays.

Everything you need to know about Facebook’s cryptocurrency 

After much rumour, Facebook has officially revealed details about its cryptocurrency, which it is aiming to launch next year, working with a number of key players in finance and beyond.

Gatwick Airport reports rise in earnings as passenger numbers grow 

London's Gatwick Airport has reported a 7.3pc rise in annual underlying earnings to £441.4m (€495m) as it saw passenger numbers rise to 46.4 million.

Chipmakers drag European shares lower after Broadcom shock 

Technology shares led European shares lower on Friday after US chipmaker Broadcom warned of a broad slowdown in demand due to trade tensions and the US ban on Chinese tech and mobile phone company Huawei Technologies.

EU finance ministers fail to agree on key aspects of euro zone budget 

European Union finance ministers failed to agree in overnight talks on Thursday and Friday on some of the key features of a future euro zone budget and decided to continue discussions in the coming months, a euro zone official said.

Arcadia did not come close to collapse – Philip Green 

Philip Green has rejected suggestions that his Arcadia retail empire came close to collapse before a restructuring plan was clinched with regulators and landlords.

Tesco sales fall in 'subdued' market 

Supermarket giant Tesco has reported Republic of Ireland like-for-like sales growth of 1.3pc for its first quarter to May 25.

Online fashion retailer Boohoo sees sales jump 

Online fashion retailer Boohoo has posted a 39pc jump in sales to £254.3m (€285m) for its first quarter to May 31.

Consumer giant Reckitt Benckiser appoints new CEO 

Consumer giant Reckitt Benckiser, which owns brands such as Cillit Bang and Gaviscon, has announced the appointment of Laxman Narasimhan as its new chief.

Italy deputy PM Di Maio says EU must allow Italy to cut tax 

The European Union should allow Italy to cut tax and invest in the green economy to boost the country's economy, Deputy Prime Minister Luigi Di Maio said on Monday.

Global markets: Stocks climb on trade, rate cut optimism; yuan falters 

Asian shares, European and US stock futures rose on Monday after the United States shelved plans to impose tariffs on Mexico and as global investors hoped for lower US interest rates on the back of lacklustre jobs data.

Bundesbank slashes German growth forecasts on industry's plight 

The Bundesbank slashed its growth projections for Germany on Friday, saying industrial groups in the euro zone's biggest economy would suffer from weak demand through the rest of the year.

ECB pushes back rate hike again as outlook darkens 

The European Central Bank pushed back the timing of its first post-crisis interest rate hike again on Thursday and said it would continue paying banks for lending in its latest effort to revive a slowing euro zone economy.

Ford to close Wales engine plant in latest blow to UK car sector 

Ford said it would close its plant in Bridgend, south Wales, next year because of falling demand for some if its engines, putting 1,700 jobs at risk in a further blow to Britain's once booming car industry.

Renault and Fiat shares skid after $35bn merger deal collapses 

Shares in carmakers Renault and Fiat Chrysler (FCA) both fell sharply on Thursday after Fiat Chrysler abandoned its $35bn (€31bn) merger offer.

EU to start infringement procedure against Italy 

The European Commission will launch disciplinary procedures against Italy on Wednesday with a letter stating that Rome's fiscal policies lack prudence and could expose the nation to a shock loss of market confidence, newspaper La Repubblica said.

Shell to pay out $125bn in dividends over four years 

Royal Dutch Shell is set to hand out $125bn (€111.5bn) in dividend payments to shareholders over four years, the company said.

Tesco Bank halts mortgages blaming 'challenging' conditions 

Tesco Bank is to sell off its mortgage portfolio after halting new lending, in a move which could affect more than 23,000 customers.

Shannon Group appoints new board members 

Ambrose Loughlin and Stephen Rae have been appointed to the board of Shannon Group.