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.
Tesco Bank is to sell off its mortgage portfolio after halting new lending, in a move which could affect more than 23,000 customers.
Ambrose Loughlin and Stephen Rae have been appointed to the board of Shannon Group.
Troubled holiday giant Thomas Cook has confirmed "multiple" bids have been made for all or part of its airline as it tumbled to a £1.5bn (€1.7bn) pre-tax loss for the six months to March 31.
Mobile phone giant Vodafone has swung to a €7.6bn bottom line annual loss and slashed its shareholder dividend payout.
Aer Lingus owner International Consolidated Airlines Group (IAG) has reported a 60.3pc drop in operating profit before exceptional items to €135m in the first quarter of 2019.
Next sales surged by 4.5pc in the past three months as the high street fashion brand was buoyed by warm weather over the Easter period and strong online sales growth.
Advertising giant WPP has reported a fall in like-for-like sales in the first quarter as it continues to feel the pain of big client losses.
BT plans to exit the Irish market though the £400m (€462m) sale of BT Ireland.
Banking giant Barclays has warned it may need to slash costs further in 2019 as it reported a 10pc fall in underlying pre-tax profits to £1.5bn (€1.7bn) for the first three months of the year.
Primark has notched up a surge in half-year profits as British shoppers continue to flock to the budget retailer.
Ted Baker has announced the conclusion of an investigation into harassment allegations levelled at founder Ray Kelvin, which identified "several areas for improvement" in the clothing retailer's HR...
Online retailer Asos has seen half-year profits crash 87pc to £4m (€4.6m), which it blamed on "temporary transition costs".
Sports Direct tycoon Mike Ashley has torn into Debenhams executives, accusing the board "falsehoods and denials" after tabling a £150m (€174m) rescue offer.
Euro zone bond yields were lifted off recent lows on Wednesday with Germany's benchmark Bund heading back towards zero percent as hopes of a softer Brexit fuelled risk appetite and investors...
EasyJet has warned that uncertainty over Brexit is holding back demand in the short term, as the airline said it would make a loss in the first half due to rising costs.
Ajax's shares slumped on Thursday following the shock last-minute defeat of the Dutch soccer club by Tottenham Hotspur in the Champions League semi-final.
J D Wetherspoon on Wednesday reported a jump in sales for the third quarter at its 900 odd pubs in Britain and Ireland, even as Britain's pub operators battled mounting costs.
Love Island broadcaster ITV has warned it expects half-year advertising revenues to tumble by 6pc after Brexit uncertainty hit first quarter trading.
Plans have been unveiled to redevelop the north of O’Connell Street and Moore Street.
Royal Dutch Shell has seen profits drop on the back of tumbling oil prices and weaker margins.
NewYork-headquartered Rent the Runway is to create 150 jobs in Galway over the next three years.
Marmite maker Unilever saw rising sales driven by success in emerging markets during the first quarter, but Europe remained slow.
Health insurer VHI reported a net surplus of €82.4m in 2018, up from €75.3m in 2017.
Dublin-listed Green Reit has put itself up for sale.
Irish building materials group CRH has hired Bank of America to launch the sale of its European distribution business in a deal valuing the unit at about €2bn including debt, sources familiar with the matter said.
Swedbank dramatically dismissed its chief executive Birgitte Bonnesen on Thursday shortly before its annual meeting after the lender faced allegations it was involved in money laundering in the Baltics.
Core euro zone government bond yields held near multi-year lows on Thursday as speculation mounted that the ECB would introduce a tiered deposit rate to ease strains on banks amid continued low economic growth.
Airbus shares rose on Tuesday after the European planemaker won a deal worth tens of billions of dollars to sell 300 aircraft to China.
Ted Baker's profits slumped last year as the fashion retailer grappled with a scandal which pushed its founder to resign, as well as a competitive retail environment.
Shares in Asia rose on Thursday after the US Federal Reserve abandoned forecasts for any interest rate hikes this year, but concerns over US-China trade talks and slowing global growth continued to weigh on investor confidence.
UK shares rose on Thursday as financials cheered British lawmakers' rejection of a no-deal Brexit and oil majors were buoyed by higher crude prices, but mid-cap retirement services specialist Just Group slumped following plans to raise funds.
Instagram is back up after suffering a partial outage for over several hours, the photo-sharing social network platform said in a tweet, but its parent Facebook's app still seemed to be down for some users across the globe.
Asian shares stumbled on Thursday after Chinese data signalled further weakness in the world's second-biggest economy while the pound eased off nine-month highs ahead of another Brexit vote.
European shares opened broadly flat on Wednesday as uncertainty prevailed on Britain's plan to leave the European Union and no corporate or economic news appeared strong enough to shake the risk-off mood spreading from Asia overnight.
Fund giant Standard Life Aberdeen said Keith Skeoch had been appointed sole chief executive, with former joint CEO Martin Gilbert becoming vice chairman.
Norwegian Air will temporarily ground its Boeing 737 MAX 8 passenger jets at the advice of European regulators, it said on Tuesday.
Sterling has fallen over 1pc against the Euro after the UK Attorney General Geoffrey Cox said yesterday’s revised Brexit deal will not remove the legal risks on the Irish backstop.
French Connection returned to a modest profit last year, but sales continued to fall.
Shares of Boeing slid 9pc in early trading on Monday as many airlines grounded the planemaker's best selling 737 MAX 8 passenger jet following the second deadly crash involving the plane.
China's exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy despite a spate of support measures.
Airline chiefs say a Brexit crisis in March has been avoided, but the lack of political progress has dampened consumer demand.
European shares stalled on Wednesday as weak results from the troubled autos sector dragged the market down and investors' confidence in a rally that has sent stocks shooting up this year showed signs of fraying.
The Bank of England has said it will allow lenders to borrow from it in euros from next week in a move to help bolster the financial system in the run-up to Brexit.
Ladbrokes owner GVC has posted an £18.9m (€22m) pre-tax loss for 2018.
European shares opened higher on Monday as optimism towards a deal to end the US-Sino trade war lifted sentiment and a risk-on mood spread from Asia to European bourses in an otherwise slow day in terms of corporate earnings or economic indicators.
Advertising giant WPP has reported a hefty drop in annual profit and warned that challenging conditions will persist into the first half of 2019.
William Hill's profits tumbled last year amid challenges to its betting shops on the UK main street.
Luxury car manufacturer Aston Martin Lagonda has revealed plans to set aside up to £30m (€35m) to help it weather Brexit disruption as it posted a £68.2m (€79.6m) annual loss.
Ted Baker has warned that its profits will fall short of market expectations this year due to foreign exchange movements and additional costs.
Bayer's adjusted core earnings rose 15.8pc in the fourth quarter, boosted by the addition of US seeds maker Monsanto and on cost cuts at its consumer healthcare business.
European shares were firmly in the red on Tuesday as the optimism about US-China trade talks that swept stocks to fresh October highs cooled, with London's FTSE 100 lagging the broader markets as the sterling rallied.
Bank of America is dropping the "Merrill Lynch" name from some of its businesses, phasing out a brand with a long history on Wall Street as part of a multi-year marketing effort, the lender said on Monday.
Chinese stocks posted their biggest single-day gains in more than three years on Monday after US President Donald Trump said he would delay an increase in tariffs on Chinese goods thanks to "productive" trade talks.
German carmakers Daimler and BMW unveiled a joint ride-hailing, parking and electric car charging business on Friday to compete with mobility services provided by Uber and other tech firms.
Italian government bond yields crept up on Friday, reflecting caution among investors before a Fitch ratings review.
The United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources familiar with the negotiations.
Banking giant Barclays has revealed a £150m (€172m) hit to cover Brexit uncertainty as it said annual profits edged 1pc lower to £3.49bn (€4bn).
Net profits at AXA, Europe's second biggest insurer, fell sharply as a result of charges related to its US unit's initial public offering (IPO) and a spate of natural disasters, although AXA hoped for higher earnings this year.
Lloyds Banking Group announced that it will return up to £4bn (€4.6bn) to shareholders as it reported a 13pc increase in profits.
The planned £12bn Sainsbury's-Asda merger has been thrown into serious doubt after the competition watchdog said it could block the deal unless the pair sell off significant stores or even one of the brands.
Honda said on Tuesday it will shut its only plant in Britain in 2021, a decision the Japanese car maker said was based on changes in the global market and not related to Brexit.
HSBC has reported a 15.9pc rise in pre-tax profit in 2018, coming in short of expectations following a challenging fourth quarter.
Facebook intentionally breached data privacy and competition law and should, along with other big tech companies, be subject to a new regulator to protect democracy and citizens' rights, a damning UK report has said.
Europe's financial markets regulator has given UK-based derivatives clearing houses permission to continue serving EU clients in the event of a no-deal Brexit - a major boost to London's battle to remain the central market for euro clearing.
Gaviscon maker Reckitt Benckiser has reported rising full-year sales and profits, despite the group flagging "challenging market conditions".
Norwegian Air's chief executive and its board chairman agreed to sell some of their subscription rights to a share issue at a discount, in a deal that will help the loss-making carrier raise cash, they said on Monday.
Johnny McMahon, top left, known better as Johnny Smacks, is one half of the Tipperary comedy duo The 2 Johnnies.
Mr Kipling cake firm Premier Foods has scrapped plans to sell off its Ambrosia custard brand, blaming the current business climate.
German sports car firm Porsche is warning new customers they might have to pay extra for their new cars after Brexit.
Euro zone government bond yields were mostly steady on Thursday, with data showing Germany just escaped recession in the final quarter of 2018 preventing a further drop in borrowing costs.
Europe's Airbus is scrapping production of the A380 superjumbo, with lacklustre sales forcing it to abandon a dream of dominating the skies with a 21st century cruiseliner.
Heineken, the world's second-largest brewer, said higher beer sales and consumers trading up to more expensive drinks will boost earnings in 2019 after reporting growth in every region last year, sending its shares up 4pc.
The European Union reached a provisional deal on Wednesday on new rules governing import gas pipelines including Russia's planned Nord Stream 2, in a move that cast doubts over the project's current operating plan.
Ex-Nissan chairman Carlos Ghosn's chief defence lawyer, Motonari Otsuru, has resigned, his law office said Wednesday, a stunning twist to the nearly three-month case over alleged financial misconduct by the one-time saviour of Nissan.
Bank of England Governor Mark Carney said there would be a hit to Britain's economy in the short-term if the country leaves the European Union next month without a deal to smooth its transition.
The British currency fell against the dollar on Tuesday to a new three-week low, as doubts grow about whether Prime Minister Theresa May can convince the European Union to accept changes to her Brexit divorce deal.
Nissan said it had booked around $84m (€74m) in charges related to under-reported compensation for ousted chairman Carlos Ghosn, and slashed its annual profit outlook on weaker global sales.
IAG, the owner of Aer Lingus and British Airways, said on Monday that it would cap ownership of its shares by non-Europeans at the current 47.5pc level to maintain its status as a European-owned airline.
Debenhams has secured £40m (€45.6m) in additional funding from some of its lenders as it strives to find a longer-term solution to its financial problems, the embattled UK retail chain said on Tuesday.
China struck an upbeat note on Monday as trade talks resumed with the United States, but also expressed anger at a US Navy mission through the disputed South China Sea, casting a shadow over the prospect for improved Beijing-Washington ties.
The United Arab Emirates's economy minister said on Monday that Britain has approached the UAE and other Gulf countries on a possible post-Brexit trade pact.
Jaguar Land Rover's owner Tata Motors stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4bn on slumping China sales, sending its shares crashing as much as 30pc.
SSE has cut its earnings outlook, lost another 240,000 customers and said it is assessing options for its retail arm following the collapse of a merger with rival Npower.
Asian stocks lost ground on Friday as investors worried about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row.
Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out.
Germany's antitrust watchdog today announced a crackdown on Facebook's data collection practices after ruling the world's largest social network abused its market dominance to gather information about users without their knowledge or consent.
Superdry has blamed "unseasonably warm weather" for a dip in third quarter sales as the troubled retailer continues to struggle amid a boardroom bust-up.
Norwegian Air has cut its expected capacity growth for 2019 to just 9pc from 15-20pc seen previously as it seeks to preserve cash and prioritise profits over growth, it said on Thursday while reporting a fourth-quarter loss.
China's Huawei has offered to build a cyber security centre in Poland where last month authorities arrested a Chinese employee of the telecommunications firm along with a former Polish security official on spying charges.
UK-based online grocer Ocado has warned over a hit to sales after a huge fire swept through its robotic warehouse in Hampshire.
Barratt Developments has reported a rise in half-year sales and profits as it continues to shrug off Brexit pressures hitting the wider property market.
German holiday airline Germania collapsed on Tuesday after it failed to secure financing to meet a short-term cash squeeze and said it would cancel all flights immediately.
Alphabet beat Wall Street estimates for fourth-quarter revenue and profit on Monday, as advertisers spent more on its Google search and YouTube services during the busy holiday shopping period.
Nissan's decision to scrap plans to build its next-generation X-Trail model in northern England is "very disappointing", Theresa May's spokesman said on Monday.
Italy's government borrowing costs rose to their highest level in three weeks on Monday, pushed up by heightened concern that a deteriorating economic outlook will worsen the country's fiscal position.
International ride-hailing service Uber said it was suspending service in Barcelona after regional authorities passed regulations that would limit how it operates in the city.
The Italian economy has slipped into recession in the final three months of the year, weighing on the wider eurozone's growth, official figures have showed.
German retail sales plummeted by 4.3pc on the month in December, the fastest rate in 11 years, data released by the state statistics office on Thursday showed, sending a worrying signal about household spending in Europe's biggest economy.
A senior Barclays banker worried that multimillion-pound payments made to Qatar could be interpreted as a "bung", a court has heard.
Budget airline Wizz Air has reported an 87.7pc plunge in pre-tax profits to €1.8m for the three months to December 31.
Britain's blue-chip stock futures were higher on Wednesday following a sharp fall in sterling overnight after British lawmakers voted down a proposal in parliament that aimed to prevent a potentially chaotic "no-deal" Brexit.
Apple plans to cut the price of some of its flagship iPhones for only the second time in the device's 12-year history, pegging its retail value to past prices in local currencies outside the United States instead of the rising US dollar.
Ryanair has taken full control of Austrian-based carrier Laudamotion.
The euro was headed for a second weekly decline on Friday after the head of the European Central Bank said economic growth was likely to be weaker than previously expected.
British lawmakers launched an inquiry on Friday to plot the best way forward for finance after Brexit as Goldman Sachs warned it could cut jobs if the UK crashes out of the bloc without an agreement in two months' time.
Luxury fashion brand Burberry has reported a 1pc rise in like-for-like global store sales for the 13 weeks to December 29.
Cake chain Patisserie Valerie has collapsed into administration.
The UK's Financial Reporting Council (FRC) said it had opened a further investigation into KPMG's auditing of collapsed construction giant Carillion.
British budget airline EasyJet said on Tuesday that drone disruption at London's Gatwick airport in December had cost it millions of pounds in lost operating revenue and additional costs.
France's data privacy watchdog has fined Google €50m, the first penalty for a US tech giant under new European data privacy rules that took effect last year.
William Hill expects full year profits to drop 15pc, with the bookmaker blaming conditions on the high street.
China's economy cooled in the fourth quarter of last year under pressure from faltering domestic demand and bruising US tariffs, dragging 2018 growth to the lowest in nearly three decades and pressuring Beijing to roll out more stimulus to avert a sharper slowdown.
Philips is to close its Glemsford factory and transfer its operations to the Netherlands, putting 430 jobs at risk.
A newborn baby has been found dead in a women's toilets inside an Amazon distribution centre, police in Phoenix said.
Financial advisory and corporate services firm Woodbrook Group has appointed Mann Vergan as director of legal and corporate services.