Fidelity Top Stories
Royal Mail lowers guidance as it cuts 700 manager jobs
British postal carrier Royal Mail is axing 700 managers at a cost of £70m, the company said on Tuesday as it lowered its annual profit outlook after the omicron Covid variant hit Christmas deliveries.
Rio Tinto resolves dispute with Mongolia over Oyu Tolgoi mine
Rio Tinto has resolved its long-running dispute with the Mongolian government over the $6. 93bn expansion project for the company’s Oyu Tolgoi copper-gold mining project.
Euro area services slow sharply in January even as supply chain issues in manufacturing ease
Economic activity in euro area services slowed more sharply than expected in January as renewed Covid-19 restrictions on account of Omicron led to a marked slowdown, the results of closely-followed surveys revealed.
M&C Saatchi rejects increased offer from suitor
The independent directors of M&C Saatchi have rejected an increased bid from its largest shareholder and chair, the company said on Monday.
Morgan Stanley reiterates 'buy' for FTSE 100, highlights 'defensive' qualities
Analysts at Morgan Stanley sounded a 'bullish' note on the outlook for the FTSE 100, highlighting its greater 'defensive' properties relative to rivals, higher dividend yields versus global peers, exposure to energy and record low expectations for growth in the profits of its constituent companies.
Crunch time for US-Russia talks in Geneva
Russia's top diplomat to the European Union hopes that talks with the US on Friday in Geneva will help ease current tensions.
Playtech warns not all investors engaging on bids after Jordan pulls offer
Gambling technology company Playtech reiterated support for a £2. 7bn bid from Aristocrat Leisure after former Formula One boss Eddie Jordan pulled his offer overnight, but warned that new investors with major stakes have not “engaged meaningfully” on the original approach.
UK retail sales slump 3.7% in December as Omicron hits footfall
UK retail sales fell a worse-than-expected 3. 7% in December as the Omicron Covid variant deterred shoppers, according to official data released on Friday.
Mounting cost of living undermines UK consumer confidence - GfK
Consumer confidence in the UK weakened in January, a survey showed on Friday, as concerns about the rising cost of living mounted.
Philly Fed manufacturing index edges past forecasts at the start of 2022
Activity in the us mid-Atlantic region picked up the pace last month with new orders, shipments and delivery times both improving.
ECB does not need to react as quickly as the Fed, Lagarde says
The European Central Bank should not raise interest rates as quickly as the Federal Reserve, Christine Lagarde told French media.
Deliveroo posts tasty rise in Q4 gross order value
Online food delivery platform Deliveroo reported a 36% rise in fourth-quarter gross transactional value as it hit a top-of-guidance 70% increase during 2021.
Euro area CPI rises as expected in December on inflation in services
The cost of living in the single currency bloc rose as expected last month amid a jump in services and energy prices.
German producer prices clock in with fastest rise ever in December
A surge in natural gas prices stoked the fastest pace of increase in German producer prices ever at the end of 2021.
Primark sales up 36% despite Omicron hit over Christmas
Associated British Foods said fourth quarter sales at its Primark stores rose 36% despite a hit from the surge in Covid Omicron cases, but were now showing signs of recovery as it maintained full-year group guidance.
BHP warns of Covid impact in Western Australia ahead of border opening
Australian mining giant BHP Group warned of lower iron ore shipments due to labour shortages caused by Covid-19 border restrictions imposed by the Western Australian state government.
Burberry ups FY guidance as full-price sales drive revenues
Fashion retailer Burberry on Wednesday lifted annual profits guidance after reporting a 5% rise in third quarter revenues driven by an acceleration in full price sales of leather and outerwear goods.
Pearson lifts FY guidance on strong assessment unit results
Education group Pearson raised annual profits guidance on Wednesday, driven by its assessment and qualification business.
BoJ says risks to prices 'generally balanced' but stays put on policy
The Bank of Japan anticipated that the country's economy "was likely to recover" as the impact of Covid-19 on services and its related supply-side constraints waned, policy makers said following their latest policy meeting.
Rio Tinto iron ore shipments down on labour shortages, mine delay
Anglo-Australian miner Rio Tinto said it expected 2022 iron ore shipments to be slightly weaker than forecast due to tight labour market conditions and production delays from its new greenfields mine at Gudai-Darri project.