Fidelity Top Stories
NCC slumps on profit warning as US markets hit by volatility
Shares in cyber security company NCC Group slumped by more than a third on Friday after a profits warning, due to deteriorating market conditions in the US, including the collapse of Silicon Valley Bank and its impact on customer confidence.
US consumer confidence slips amid recession worries, U.Michigan says
Americans were less confident in March than during the prior month amid worries about a possible recession, the results of a closely followed survey revealed.
Rio Tinto joins forces with First Quantum on Peru copper project
Rio Tinto has agreed to sell a majority stake in its La Granja copper project in Peru to Canada’s First Quantum Minerals for $105m.
Ithaca Energy slams UK windfall tax as output, capex targets cut
North Sea oil and gas producer Ithaca Energy on Thursday lowered annual production and capital expenditure guidance, citing the UK government’s windfall tax, operational delays and lower volumes despite almost trebling profits in 2022.
Sam Bankman-Fried charged by US with bribing China officials
Disgraced FTX cryptocurrency exchange founder Sam Bankman-Fried has been charged by US authorities with bribing Chinese officials with payments of $40m (£32. 4m).
French prosecutors raid French banks in tax fraud probe
French authorities on Tuesday have searched the Paris offices of five major banks on suspicion of fiscal fraud, as part of a European investigation into the dodging of dividend tax payments.
Bellway launches £100m share buyback as H1 profits fall
Bellway on Tuesday reported a fall in half-year profits against a tough economic backdrop and announced a £100m share buyback as customer demand improved in the current calendar year, helped by a seasonal uplift and a fall in mortgage rates.
Unbound shares surge after bid approach from WoolOvers
Shares in Hotter Shoes owner Unbound Group surged on Tuesday after the company said it was minded to accept a bid approach from WoolOvers Group valuing the business £6. 8m.
Wetherspoon shares surge as pub chain swings to H1 profit
JD Wetherspoon shares surged as the pub chain said sales for the last seven weeks were 14. 9% higher than the same period last year as it also swung to a half-year profit despite "ferocious" inflationary pressures.
US private sector activity resurgent in March, S&P Global says
Economic activity in the US was resurgent in March, rising at its fastest level in almost a year, the results of two surveys revealed.
UK CMA says Microsoft Activision deal won't harm console gaming market
Britain’s competition regulator has narrowed the scope of its probe into Microsoft’s $69bn takeover of video game maker Activision, saying it no longer believes the deal would damage the UK console gaming market.
Euro area consumer confidence is little changed in March
Consumer confidence in the euro area was little changed in March.
Inchcape shares tank despite higher FY profits, upbeat outlook
Shares in Inchcape fell sharply on Thursday, despite the automotive distributor reporting a rise in annual earnings driven by growth in new and used vehicle sales and higher prices.
US new home sales grow more slowly than expected in February
New home sales in the States grew more slowly than anticipated last month.
Weekly US jobless claims continue to point to tight jobs market
Weekly unemployment claims figures in the US continued to point to a tight jobs market.
BoE hikes by 25bp, says inflation likely to fall sharply over rest of 2023
The Bank of England went ahead and raised rates as expected, saying that global growth was expected to be stronger than anticipated in the February Monetary Policy Report.
US Treasury not looking to expand deposit insurance programme, Yellen says
The head of the US Department of the Treasury said that her agency had not looked at expanding the country's deposit insurance programme, although in individual cases that was a possibility if needed.
Fed says 'some additional policy firming may be appropriate', hikes by 25bp
Policymakers at the Federal Reserve went ahead and hiked interest rates as expected.
ECB's Lagarde says medium-term 2.0% inflation goal is non-negotiable
The head of the European Central Bank said that the monetary authority's goal of returning of inflation back to 2% over the medium-term was "non-negotiable".
Vistry sees better housing market as profits surge
UK house builder Vistry on reported better-than-expected full-year profits and said market conditions were improving.