FTSE 100 slides as strong pound offsets positive session for housebuilders
The FTSE 100 closed lower after the strengthening pound pressed on the index following a bright morning driven by good performances from housebuilders.
Business
Visa plans to roll out scheme to boost number of retailers offering cashback
Visa is encouraging more banks to get behind a scheme which boosts access to cash, following a pilot launched with Lloyds last year.
Berkeley pays out ‘precautionary cushion’ to shareholders in £1bn scheme
Berkeley Group will pay its shareholders a nearly half a billion pound windfall as it doubles the money it plans to return to investors.
Charles meets Greta Thunberg after warning ‘the time to act is now’ on climate
The Prince of Wales has described teenage activist Greta Thunberg as “remarkable”, after telling world leaders “we simply cannot waste any more time” in the battle to save the planet.
Guitar maker Fender fined £4.5m by watchdog over price-fixing
The UK competition watchdog has slapped guitar manufacturer Fender with a £4.5 million fine.
South Western Railway services could be taken into public ownership – Shapps
Train services operated by South Western Railway (SWR) could be taken into public ownership due to losses made by the franchise, Transport Secretary Grant Shapps has announced.
Simon Roberts: Who is Sainsbury’s new chief executive?
Mike Coupe’s departure as Sainsbury’s chief executive after six turbulent years was a hardly a surprise, and nor was his replacement.
Manufacturing confidence posts largest jump since 1958
Confidence among Britain’s manufacturers increased faster in the least three months than at any other point on records, new figures show.
Charles to meet climate change activist Greta Thunberg at Davos
The Prince of Wales is to meet teenage climate change activist Greta Thunberg for the first time, Clarence House has announced.
Pets at Home top dog at Christmas after grooming boost
Retailer Pets at Home has thanked the rising trend for well-groomed dogs for helping it notch up a record Christmas as sales surged higher.
US Treasury boss downplays hopes of full China deal before presidential election
US Treasury Secretary Steven Mnuchin downplayed talk that trade discussions with China will be wrapped up by this November’s US presidential election.
Lloyds will charge up to 49.9% for overdrafts from April
Lloyds Banking Group customers are to be charged new “personalised” overdraft rates of up to 49.9% from April.
Debt creeps up as Wetherspoon invests in new pubs
JD Wetherspoon has warned that its debt would pile up by the end of the financial year as the company invested millions in new pubs and refurbishments.
Public sector borrowing less than expected but will rise this year – ONS
Britain’s budget deficit was less than expected in December, although borrowing is set to rise this year, according to the Office for National Statistics.
South Western Railway franchise ‘not sustainable in the long term’
South Western Railway’s recent financial statements indicate “the franchise is not sustainable in the long term”, according to Transport Secretary Grant Shapps.
Interest rate cuts losing their grip, warns Barclays boss
Barclays boss Jes Staley has warned that further cuts in UK interest rates are becoming a less powerful tool to boost the economy and risk taking their toll on the banking system.
JLR ‘cutting hundreds of jobs’ at UK car plant
Car giant JLR is cutting jobs at one of its UK plants in a fresh blow to the car industry, according to Unite.
WH Smith travel division soars higher but high streets remain tricky
WH Smith’s stores in train stations, airports and hospitals have continued to perform well but high street sites remain in decline, the company said.
Burberry ups guidance despite hit from Hong Kong
Burberry’s sales halved in Hong Kong as political turmoil continued to drag on retailers in the Chinese city state, but the luxury clothes brand has still been able to up its outlook for the year.
Charles to launch sustainable markets project in visit to World Economic Forum
The Prince of Wales has pledged to do his “utmost” to spread a message of sustainability and will call for consumers to be given clear information to help them make environmentally-friendly choices.
Ted Baker warns £58m accounting hole is three times bigger than first thought
The top brass at Ted Baker have said that a major accounting blunder is almost three times as bad as they first thought, after auditors ripped apart the company’s stock assessment.
Venture capitalist Ophelia Brown launches new £142m fund
One of Britain’s top venture capitalists has launched her second fund as she tries to snap up a larger portion of the expanding European technology scene.
Boeing does not expect Max jet to be cleared until summer
Boeing has said that it does not expect federal regulators to approve its changes to the grounded 737 Max until this summer, several months longer than the company was saying just a few weeks ago.
China virus scare spooks global equity markets
London’s FTSE 100 Index finished in the red as worries over the spread of a new coronavirus in China sent global stock markets lower.
Facebook told do more to tackle online abuse in meeting with Johnson
Facebook’s second in command has been told that social media companies must do more to tackle online abuse, in a meeting with Boris Johnson and Home Secretary Priti Patel.
Hundreds of management jobs to go in latest Sainsbury’s overhaul
Hundreds more management jobs are being cut at Sainsbury’s in the latest overhaul following its takeover of Argos.
Donald Trump praises EU’s Ursula von der Leyen as ‘very tough negotiator’
President Donald Trump said he hears European Commission President Ursula von der Leyen is a “very tough negotiator”, but said he hoped the US and European Union could make progress on a new trade deal.
Aviva chairman steps down amid major overhaul
The chairman of Aviva will make room for new blood at the top as the business embarks on a major plan to cut costs.
Bank of England teams up with counterparts to look at digital currency launch
The Bank of England has joined forces with a raft of global counterparts to look at the case for launching their own digital currencies.
Interest rate cut less likely after strong employment figures, say experts
New employment figures are likely to take some of the pressure off the Bank of England to slash interest rates next week, analysts have said.