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Hammerson offloads stake in Value Retail, plans £140m buyback
Shopping centre owner Hammerson said it had sold its interest in Value Retail to consumer-focused investment firm L Catterton for an enterprise value of £1. 5bn and also announced a £140m share buyback along with a one-for-10 shar consolidation.
China PBoC cuts interest rates
Rate-setters in China lowered their short-term policy rate for the first time since the summer of 2023.
London pre-open: Gains expected as markets react to tumultuous weekend
UK stocks are expected to rise on Monday morning as investors reacted to a flurry of market-moving news over the weekend, such as the exit of Joe Biden from the US presidential race, a reduction in interest rates in China and ongoing global IT outages.
Kroger places order for new Ocado automated technologies
US grocery giant Kroger ordered two of Ocado's newest technology solutions for its existing and future customer fulfilment centres.
Ryanair sees profits slide, warns of softer fares
Ryanair Holdings posted a sharp fall in quarterly profits Monday and warned fares would likely be “materially” lower than last summer.
Monday newspaper round-up: Biden, gambling levy, UK economy...
Kamala Harris, the vice-president, has emerged as the frontrunner to replace President Biden as the Democratic nominee for the election against Donald Trump in November. Biden, 81, announced yesterday afternoon that he would drop out of the race. In the hours that followed, Harris, 59, was endorsed by leading Democrats, prospective rivals and the chairs of all 50 state parties. – The Times.
Vodafone sells further 10% in Vantage Towers for €1.3bn
Vodafone Group said it had sold a further 10% stake in the joint venture that co-controls Vantage Towers for €1. 3bn to reduce its debt.