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Ofgem to reform market and introduce pre-paid meter price cap
Millions of customers on pre-paid energy contracts will be protected from April 2017 with an interim price cap, the energy industry regulator said on Wednesday.
Aggreko H1 profit and revenue hit by weak oil price
Aggreko tumbled on Wednesday after the FTSE 250 temporary power provider posted a drop in first-half profit and revenue as weak oil prices took their toll on the company.
TechFinancials bounces on upbeat trading update
TechFinancials, the technology provider to financial trading brokers, said operating profits had increased by more than three quarters in the first half of the year as its business division continued to perform strongly and its consumer initiatives began to bear fruit.
UK services sector contracts sharply after Brexit vote
The UK services industry contracted sharply in July following the vote to leave the European Union.
UBS upgrades Laird to 'buy' from 'neutral'
UBS upgraded Laird to ‘buy’ from ‘neutral’ on Wednesday but lowered its target price to 350p from 375p.
Eurozone services PMI ticks higher in July
Business activity in the eurozone expanded a little faster than originally estimated in July, with Markit’s final composite purchasing managers’ index for the area – which combines the services and manufacturing sectors – rising to a six-month high.
Millennium & Copthorne posts 'disappointing' first half
Millennium & Copthorne Hotels posted its half-year report for the six months to 30 June on Wednesday, with Group revenue per available room (RevPAR) in constant currency falling by 4. 2% to £67. 91, compared to £70. 88 in the same period last year.
AIG set to buy back $3bn in shares as it resists breakup calls
American International Group has annnounced plans to repurchase $3bn worth of shares amid growing calls from investors to split up the company.
London open: Choppy start for FTSE 100 ahead of services data
London stocks spiked higher initially on Wednesday despite downbeat US and Asian sessions, as investor attention will move from the raft of global services data to the week's big Bank of England rate announcement.
Europe open: Stocks edge lower but banks rack up healthy gains
European stocks edged lower in early trade, but banks put in a solid performance following well-received earnings from the likes of HSBC, Societe Generale and Credit Agricole.
Rio Tinto urges caution as profits fall to lowest in 12 years
First half profits at Rio Tinto fell to their lowest since 2004 as crumbling commodity prices hit home, but though the numbers were in bang in-line with analyst forecasts the mining behemoth said caution was still required for the medium-term.
G4S slumps on Deutsche Bank downgrade
G4S was under pressure on Wednesday as Deutsche Bank downgraded the stock to ‘sell’ from ‘hold’ and cut the price target to 165p from 235p saying the risk/reward continues to lie on the downside.
More passengers on more seats in July for Wizz Air
Central and Eastern Europe-focused low cost airline Wizz Air announced passenger statistics for July on Wednesday, with capacity rising 16. 2% over July 2015 to 2,465,720 seats.
Moneysupermarket first-half profit rises, CEO to step down
Price comparison website Moneysupermarket. com reported a jump in pre-tax profit and revenue for the first half as it announced the resignation of its chief executive officer Peter Plumb.
London pre-open: Stocks seen flat; services PMI in focus
London stocks looked set for a flat open on Wednesday following downbeat US and Asian sessions, as investors begin to turn their attention to this week’s Bank of England rate announcement.
HSBC pledges $2.5bn share buyback as interim profits plunge
Amid continuing turbulent economic conditions, HSBC Holdings' profits plunged in the second quarter to push interim result south of market expectations, though the bank sweetened the pill with news of a $2. 5bn (£1. 8bn) share buyback thanks to the sale of its Brazilian business.
Wednesday newspaper round-up: BoE, UK visa rush, London property, Tesco
The Bank of England’s rate setters on Thursday will offer their latest assessment on the outlook for the British economy. Coming seven weeks after the country’s vote for Brexit, monetary authorities are forecast to cut interest rates for the first time since 2009. Economists and interest-rate futures markets both expect the Monetary Policy Committee to cut the bank’s benchmark rate a quarter point to 0. 25 per cent, which will be the first move from the MPC since early 2009.
NIESR revises down 2017 world and UK economic growth in wake of Brexit
World economic growth has been revised down in 2017 in a large part due to Brexit, as the UK is expected to experience a marked economic slowdown beginning in the third quarter of this year.