Fidelity Top Stories
US consumers sour on the outlook for business conditions and the jobs market
Consumer confidence in the US slipped as Americans soured on the outlook, especially those younger than 55 and belonging to households earnings more than $50,000.
AB Foods shares slide on cautious Primark consumer outlook
Shares in Primark owner Associated British Foods fell sharply on Tuesday as the clothing retailer-to-foods group guided for flat annual profits and expressed caution over consumer spending amid the cost of living crisis.
Network International shares surge on rival 400p proposal from Brookfield
Shares in payments firm Network International surged on Friday after it confirmed it had received a “highly preliminary” rival 400p a share cash offer from Canada's Brookfield Asset Management.
Belligerent UK deputy PM Raab quits after bullying findings
UK deputy prime minister and Justice Secretary Dominic Raab has resigned after he was found to have bullied and harassed civil servants.
FCA to clamp down on rip-off building insurance commissions
The UK’s financial watchdog has proposed new rules that will allow apartment leaseholders to claw back millions in rip-off insurance costs as part of a clampdown on scandalous overcharging by brokers working in conjunction with unscrupulous landlords.
Philly Fed index falls unexpectedly in April
Factory sector activity in the US mid-Atlantic region softened again unexpectedly in April, the results of a closely followed survey revealed.
UK's CBI reports new criminal offence to police
Scandal-ridden business lobby group the Confederation of British Industry has admitted handing over details of what it called a serious criminal matter to police.
Babcock warns on potential £100m hit from UK frigate contract
UK defence engineer Babcock on Thursday said it may have to take a hit of up to £100m on a Royal Navy frigate contract after inflation pushed build costs higher as it argued with the government over who should pick up the bill.
Wandisco woes worsen as FCA launches fraud probe
Embattled tech firm WANdisco’s woes worsened on Thursday as the UK’s finance watchdog said it was starting a fraud probe into the company.
Rio Tinto cuts copper production guidance, posts record iron ore shipments
Rio Tinto reported record first-quarter iron ore shipments from its Plibara operations in Western Australia as China ramped up steel production, but cut copper output guidance due to issues at its US Kennecott and Chilean Escondida operations.
UK, Germany drive rise in National Express Q1 revenue
Transport operator National Express reported a rise in first-quarter revenues driven by an improvement in UK buses and German rail.
Antofagasta holds output guidance despite lower production
Metals miner Antofagasta held annual production guidance despite quarter-on-quarter falls in copper and gold output.
Fed's Bullard calls for rates to rise to 5.5-5.75% - Reuters
A top US central bank official said that the Fed funds rate should rise to 5. 5-5. 75%.
ZEW economic sentiment index for Germany drops unexpectedly in April
Analysts' confidence in the German economy fell back unexpectedly in April, the results of a closely followed survey revealed.
Bank of America Q1 results buoyed by strong net interest income
Bank of America beat analysts' estimates for its first quarter, buoyed strong net interest income.
EasyJet lifts guidance as booking demand soars
Low-cost airline easyJet on Tuesday said it expected to beat market expectations for annual profits due to high demand and strong summer bookings after slashing losses in the first six months of the current year.
Anglo American gets environment permit for Los Bronces project
Mining giant Anglo American has been given an environment permit for a $3bn extension of its Los Bronces copper project in Chile by a committee of government ministers.
Mitie FY to beat forecasts, launches £50m share buyback
Outsourcing specialist Mitie said it expected operating profit to beat guidance after replacing all its Covid-related contract revenue, and announced a £50m share buyback.
Morgan Stanley's Mike Wilson cautious on outlook for S&P 500 earnings
Morgan Stanley strategist Mike Wilson cautioned clients that large-cap stock market indices were exposed to the risk of sudden falls as seen in the regional bank index and in small caps.
G7 Russian and Australia to keep Russian oil price cap at $60 per barrel
G7 countries and Australia decided to maintain the current $60 a barrel price cap for seaborne crude oil supplies from Russia.