Fidelity Top Stories
Marshalls revenues fall 10% amid weak housing market
Landscaping and building products supplier Marshalls said revenues fell 10% in the four months to April 30 as weak demand in the housing and maintenance market continued, adding that it still expected flat profits for 2024.
OPEC holds production forecasts, plans to use OPEC+ outlook
OPEC held global oil demand forecasts on Tuesday, adding that there was some upside potential for economic growth this year and beyond, and said it would also start using production from the wider OPEC+ group for forecasts.
Delivery Hero shares surge as Uber buys Taiwan business for $950m
Shares in Delivery Hero surged by more than 20% after it agreed to sell its Foodpanda delivery business in Taiwan to ride-hailing giant Uber for $950m.
Vodafone FY cash flow better than expected after strong Q4
Troubled telecoms giant Vodafone posted slightly better annual results than forecast, driven by a strong final quarter, as it continued to offload businesses and move towards its tie-up with rival operator Three.
Greggs holds guidance as sales make strong start
UK bakery chain Greggs maintained full year earnings forecasts as underlying sales grew 7. 4% in the first 19 weeks of this year in what it called a “challenging market”.
TBC Bank in £22m share buyback as Q1 profits jump
Georgia's TBC Bank reported higher first-quarter profit as net interest income jumped 21%, driven by higher interest rates and a "dynamic" loan book as it also launched a 75 million Georgian lari (£22. 4m) share buyback.
Blackstone leads Hipgnosis race as Concord says no encore
Private equity giant Blackstone appeared to have emerged as the winner in the race to buy troubled music rights owner Hipgnosis Songs Fund after Apollo-backed Concord said its latest $1. 25-a-share offer was final.
BAE holds guidance, sees boost from global tensions
Weapons maker BAE Systems held annual guidance and said global geopolitical tensions should boost orders as countries increased defence spending.
China imports smash forecasts as exports also rise
China’s exports rose 1. 5% in April, while imports surged 8. 4%, beating forecasts, according to data released by the customs agency on Thursday.
Watches of Switzerland buys Roberto Coin Inc for $130m
Watches of Switzerland Group said it had bought Roberto Coin Inc for $130m as it looks to expand into the luxury jewellery market.
Mike Ashley's Fraser close to tie-up with Ted Baker - report
Mike Ashley is reportedly close to securing a deal to become the new British partner of struggling UK fashion chain Ted Baker.
Asia Dragon shares surge on Ashoka merger proposal
Shares in the Abrdn-run Asia Dragon Trust spiked on Tuesday after the £35m Ashoka Whiteoak Emerging Markets made a merger approach for its much larger rival.
BP in $1.75bn buyback as Q1 profits fall on weaker prices, margins
BP reported a worse-than-expected fall in first-quarter profit on the back of lower oil and gas prices, an outage at a US refinery and “significantly weaker” fuels margins as it also started a $1. 75bn share buyback.
Eurozone construction sector struggles as new orders fall
The eurozone construction sector remains in decline at the start of the second quarter of the year after a sharp fall in new orders, with Germany, Italy and France the major contributors, a survey published on Tuesday revealed.
RBA leaves rates unchanged despite slow inflation fall
Australia's central bank left interest rates unchanged on Tuesday despite a slower-than-expected fall in inflation.
UK April retail sales hit by wet weather, early Easter - BRC
UK total retail sales fell 4% year on year in the April as wet spring weather deterred shoppers, despite businesses offering hefty discounts in an attempt to entice customers into stores, according to a survey published on Tuesday.
Trainline says Labour has no plans to revive UK ticket app, website
Britain's opposition Labour Party has no plans to revive government plans to introduce a national rail ticket website and app if it wins the next General Election, online platform Trainline said on Friday.
U.S. foreign trade deficit little changed in March, consumer goods imports strong
America's shortfall on trade with the rest of the world was little changed in March, as both exports and imports suffered large declines.
Shell beats estimates as profit hits $7.7bn, unveils $3.5bn buyback
Oil and gas giant Shell on Thursday reported much better-than-expected first-quarter earnings on the back of higher margins from crude and oil products trading and also unveiled a new $3. 5bn share buyback.
US job openings little changed in March, quits continue to retreat
The number of job openings in the U. S. declined only slightly in March, but the number of so-called quits continued to retreat.