Fidelity Top Stories
UK govt raises NI contributions threshold
The UK government on Wednesday lifted the national insurance (NI) threshold in an attempt to deflect criticisms from the upcoming manifesto-busting rise in NI contributions next month.
Sunak to cut income tax basic rate by 1p in 2024
UK Finance Minister Rishi Sunak said the basic rate of income tax would be cut by 1p in the pound in 2024 to 19p.
UK govt lowers 2022 & 2023 growth forecasts
UK economic growth this year and in 2023 will be slower than forecast at last autumn’s budget, as rising inflation and the Ukraine war take their toll, said Finance Minister Rishi Sunak.
RWS shares slump on profit forecast at lower end of guidance
Shares in language and intellectual-property support services provider RWS slumped on Wednesday after the company said it expected 2022 results to be at the lower end of expectations.
Dignity warns of lower earnings in short term after return to profit
UK funeral services firm Dignity swung to a full-year profit on Wednesday and warned of lower profits in the short term as it pursues a restructure.
Ultra Electronics FY earnings up as co awaits decision on Advent offer
UK defence company Ultra Electronics reported a rise in annual profits as it awaits a UK government decision on whether US buyout specialist Advent can take over the firm.
Two EU officials tell CNBC an immediate Russian oil embargo is unlikely
It's unlikely that Brussels will impose an immediate embargo on Russian oil, European Union officials said.
Kingfisher Q1 sales down as annual profits rise 33%
B&Q owner Kingfisher said current-year first-quarter sales were down 8. 1% as it reported 2021/22 profits up by a third, and said it was “encouraged” by its start to the new year.
EU may discuss ban on Russian oil imports on Thursday
Foreign ministers from European Union member countries were set to discuss a ban on Russian oil imports when they met on 24 March.
UK house asking prices make biggest jump since 2004 - Rightmove
Asking prices for UK homes increased at their highest rate in almost two decades as demand vastly outstripped supply and despite soaring inflation, according to property website Rightmove.
Cussons buys Childs Farm for £36.8m
Consumer products giant PZ Cussons said it had bought UK baby and child personal care company Childs Farm for £36. 8m in cash.
BoA says ultimate low for risk assets in 2022 not yet in place
Strategists at Bank of America told clients that the ultimate low for risk assets in 2022 had not yet been seen, notwithstanding the recent "violent" bear market rally triggered by cease-fire talks between Russia and Ukraine.
JD Wetherspoons halves interim losses, sees higher costs
Pub chain JD Wetherspoon halved interim pre-tax losses as Covid restrictions eased and said trading in the last three weeks was now 2. 6% below 2019 pre-pandemic levels.
Cineworld narrows losses as Covid curbs ease, cautious on debt payments
Film theatre operator Cineworld narrowed losses as lockdowns eased globally and expected a strong return to trading in March after a hit from the Covid Omicron strain, but warned of uncertainties of its ability to pay down debts.
Report of 'substantial progress' in Russia-Ukraine talks is 'wrong', Kremlin says
A Financial Times report of "substantial progress" having been made in talks between Kyiv and Moscow were wide of the mark, the Kremlin's spokesman said.
Harbour Energy swings to annual profit on higher revenue
North Sea oil and gas producer Harbour Energy reported a return to profits in its first results since its merger with Premier Oil.
Fed raises rates, sees six more hikes in 2022
The US central bank hiked interest rates as expected and said it was now clear that rates needed to be raised and that balance sheet run-off should begin.
Ukraine and Russia draw-up neutrality plan, FT reports
Russia and Ukraine have drawn up a neutrality plan to end the war after making significant progress, including on a cease-fire and the withdrawal of Russian troops.
IEA says oil price spike, Russia sanctions to hit global growth
Global economic growth is expected to be hit by a combination of rising commodity prices, a lack of supply from Russia and sanctions on Moscow, the International Energy Agency (IEA) said on Wednesday.
Centamin profits halved on lower revenue; Holds production guidance
Gold miner Centamin said full-year profits halved on the back of forecast lower revenue and an impairment on assets in Burkina Faso.