Fidelity Top Stories
Thames Water in crisis as investors pull £500m bailout
Struggling UK utility Thames Water faced a funding crisis on Thursday as shareholders pulled a £500m bailout after regulators refused its demands to hit customers with massive price hikes, greater leniency for polluting waterways and pay out higher dividends, while its parent company also admitted it couldn't pay back a £190m loan.
UK regulator decides against in-depth probe of Aviva/AIG deal
Britain's Competition and Markets Authority on Thursday said it would not open an in-depth investigation into Aviva's £460m acquisition of AIG Life UK.
Endeavour probe into former CEO finds hidden payments of $15m
An investigation into controversial former Endeavour Mining boss Sébastien de Montessus found two more “deliberately disguised” payments totalling $15m to an unnamed third party, the company said on Wednesday.
Diploma buys US fastener maker Peerless for £236m
Diploma said it had bought Peerless Aerospace Fastener, a distributor of specialty fasteners into the US and European aerospace markets for £236m.
Key US port of Baltimore blocked after cargo ship collapses bridge
Trade at the vital US port of Baltimore has come to a standstill after a container cargo ship hit and collapsed a large section of the Francis Scott Key Bridge.
Kingfisher issues profit warning on weaker French DIY market
B&Q owner Kingfisher on Monday warned current-year profit would fall short of expectations after it posted weaker earnings for 2023-24 as the home improvement market continued to lag behind demand for housing.
CMA warns Vodafone, Three deal will face full probe if solutions not given
Vodafone and Three UK have been told to find ways to assuage Britain's competition regulator that their planned $19bn merger would not leave consumers worse off or face a full investigation.
Next shares gain on guidance hold, 5% profit rise
Shares in UK fashion retailer Next jumped on Thursday as it held guidance for 2024 after posting a better-than-expected 5% rise in annual profits and flagged lower prices for customers this year.
Centamin holds outlook as production rises 2%
Gold miner Centamin said its outlook for 2024 remained unchanged as it delivered annual production in line with guidance despite local inflationary cost pressures.
Fed sees faster GDP growth in 2024, shallower path for rate decreases in later years
The U. S. central bank kept interest rates unchanged but nudged its forecasts for economic growth and interest rates in 2025 and 2026 a tad higher.
Boeing sees bigger Q1 cash burn as 737 output cut
Troubled US plane maker Boeing on Wednesday said it would burn more cash in the first quarter than expected as it slowed production of its 737 passenger model after a panel blew off an Alaska Airlines flight in January.
German producer prices fall 4.1% in February
German producer prices in February fell a further-than-expected 4. 1% on an annualised basis, the federal statistics office said on Wednesday.
China banks hold lending rates
Chinese banks held benchmark lending rates after the country’s central bank last week to keep monetary policy unchanged.
Johnson Matthey sells medical parts unit for $700m
Johnson Matthey is selling its medical device components business to Montagu Private Equity for $700m (£550m), the company said on Wednesday.
AstraZeneca to buy US-listed Fusion Pharma for $2bn
AstraZeneca said it had agreed to buy biopharmaceutical company Fusion Pharmaceuticals for up to $2bn.
RBA leaves rates unchanged, but warns inflation risks still remain
Australia's central bank left interest rates unchanged on Tuesday, as expected, but governor Michele Bullock warned that inflation remained at high levels.
Japan lifts rates for first time in 17 years
Japan’s central bank raised interest rates on Tuesday, ending an eight-year policy of keeping them in negative territory in an attempt to boost economic growth.
Currys lifts annual profit guidance after bid battle
UK electrical retailer Currys lifted guidance as it reported stronger-than-expected sales since the busy Christmas period.
US producer prices rose more quickly than expected last month
Wholesale inflation in the U. S. rose more quickly than anticipated, due in large part to higher energy prices.
Vistry shares surge as profits jump, unveils £100m buyback
Shares in Vistry surged on Thursday after the UK housebuilder posted a jump in annual profits, unveiled another £100m share buyback and forecast higher completions in 2024 driven by strong demand.