Fidelity Top Stories
Fund managers sitting on biggest cash pile since April 2020, when Covid-19 hit, BoA survey shows
Fund managers around the world boosted their cash on hand in March to 5. 9%, the highest level since the start of the pandemic, in response to Russia's invasion of Ukraine, the results of a closely-followed survey revealed.
Inchcape to sell Russia business, lose 10% of sales
Car dealership operator Inchcape said it was offloading its Russian business - which accounted for around 10% of group sales last year - after the invasion of Ukraine made it "untenable" to operate in the country.
Close Bros lifts dividend after small rise in first-half profit
Wealth manager Close Brothers reported a small rise in interim profits, helped by growth in its merchant banking operation, offset by a fall in trading at its broking division.
Ferguson doubles buyback to $2bn as interim profits surge
Plumbing and heating products supplier Ferguson said it was doubling its share buyback to $2bn after interim profits rose by two-thirds driven by a strong US residential house building market.
Former Wirecard CEO charged with fraud over firm's collapse
The former chief executive of failed German payments company Wirecard has been formally charged with fraud, breach of trust and accounting manipulation, prosecutors said on Monday.
VW shares surge on higher profits, outlook
Shares in German automaker Volkswagen surged on Monday after the company reported bumper 2021 profits, but warned of potential impact from the Ukraine war.
Rio Tinto in $2.7bn offer for 49% of Turquoise Hill
Anglo-Australian miner Rio Tinto has made a $2. 7bn bid to buy the 49% of Canada’s Turquoise Hill it doesn’t own as it looks to settle its relationship with the Mongolian government over the massive Oyu Tolgoi copper project.
Russia-Ukraine talks have reportedly made 'some progress'
"Some progress" had been made in negotiations to stop the war, a senior lawmaker in Moscow said.
BATS announces exit from Russia, calls on governments to help find peace in Ukraine
British American Tobacco called on all leaders and governments to find a peaceful and sustainable resolution of the conflict, even as it announced its exit from Russia.
US consumer confidence falls on rising inflation, Ukraine invasion
Consumer confidence in the US fell unexpectedly in early March amid concerns around inflation and the war in Ukraine, the results of a closely-followed survey revealed.
Russian diplomats see 'certain positive shifts' in talks, Putin says
There were "certain positive shifts" in the talks that were undertaken the day before between Moscow and Kyiv, the Russian President said.
Oil price shocks usually do not derail economies, Berenberg says
Oil price shocks historically have not derailed economies but in the case of Europe, this time the outcome will likely hinge on whether or not the European Union joins Washington's embargo on Russian oil, Berenberg said.
Endeavour Mining sells interest in Burkina Faso mine for up to $25m
Endeavour Mining said it had sold its 90% interest in its non-core Karma mine in Burkina Faso to Néré Mining for up to $25m plus a 2. 5% net smelter return royalty.
Avast pulls products from Russia, Belarus after Ukraine invasion
Cybersecurity firm Avast said it had withdrawn all its products from Russia and Belarus and suspended all marketing and sales operations in those countries with immediate effect.
Ceasefire talks between Ukraine and Russia stall
Talks between Ukraine and Russia have failed to make progress, the Ukrainian foreign minister told reporters on Thursday.
Balfour Beatty earnings up despite UK construction loss
Infrastructure builder Balfour Beatty more than doubled annual earnings, and lifted its share buyback target as cash flow improved and despite a loss at its UK construction unit.
Hill & Smith profits up despite cost headwinds
Construction and infrastructure materials supplier Hill & Smith reported a jump in full-year profit as the economy recovered from the Covid-19 pandemic and despite cost headwinds and labour shortages.
US job openings and 'quits' little changed in January
The number of job openings in the US slipped at the start of 2022 as did the number of people voluntarily quitting their jobs.
Credit Suisse says impact of Ukraine war is underestimated, recommends clients 'get more defensive'
Strategists at Credit Suisse believed that the multiple negative feedback loops created by the war in Ukraine had been underestimated, especially as regarded the hit to economic growth in Russia and Europe.
Pentagon pushes back on Polish proposal to deliver MIG 29s to Ukraine via Germany
The Pentagon pushed back on a Polish proposal to transfer MIG-29 fighter jets to Poland via Germany.