Fidelity Top Stories
Currys pins hopes on AI-tech as FY earnings jump 10%
UK electricals retailer Currys said trading in the current fiscal year was in line with expectations after 2023/24 adjusted earnings rose 10% and was pinning its hopes on the increasing use of artificial intelligence in electronic goods.
L&G to sell Glencore, TJX stakes over environmental concerns
Legal & General Investment Management (LGIM) said that its environmental, social and governance and some pension funds would divest their stake in commodities miner and trader Glencore due to its thermal coal operations.
Airbus cuts profit guidance on Space, lowers jet delivery forecast
Airbus warned of a hit to its bottom line and cash flow as a result of charges incurred on certain of its space activities.
Existing US home sales dip in May, but prices at record highs
Sales of second hand homes in the US dipped just as expected last month, albeit alongside a fresh record high in prices.
US factory and services activity rises unexpectedly in June, PMIs show
Economic activity in the US picked up unexpectedly over the first half of June, the results of two surveys showed.
DS Smith profits fall on weak demand, inflation
Paper and packaging company DS Smith reported a fall in annual profits driven by weak volumes and high inflation, but said it expected higher prices and demand would boost a recovery in the second half of the current year and into 2026.
Berkeley lifts outlook, outlines plans to enter rental market
UK housebuilder Berkeley lifted its earnings outlook by 5% for the current financial year amid tough trading conditions and unveiled plans to enter the London rental market.
HSBC Swiss unit breached money laundering rules, says watchdog
Switzerland's financial watchdog said HSBC's private bank in the country had breached its obligations in the prevention of money laundering in connection with two unnamed "politically exposed" persons.
RBA holds rates steady but warns of upside risks as inflation persists
The Reserve Bank of Australia board left its cash rate on hold at 4. 35% but warned that persistent inflation and slowing economic growth meant it was ruling "anything in or out" on the future path of monetary policy, with risks to the upside remaining.
Home REIT debt refinancing talks collapse
Talks to renegotiate Home REIT’s £130m debt pile have collapsed, meaning the struggling social housing fund will have to sell more properties to pay back lenders.
AstraZeneca's Imfinzi gets US approval for endometrial cancer patients
AstraZeneca said its Imfinzi cancer treatment had been approved in the US as treatment for adult patients with primary advanced or recurrent endometrial cancer.
British Land CFO to join Kingfisher
B&Q owner Kingfisher said it had appointed British Land chief financial officer Bhavesh Mistry to the same role at the home improvement company.
Tesco CEO's £10m pay package overshadows Q1 sales jump
British supermarket chain Tesco on Friday held annual guidance after reporting a 4. 6% jump in UK first-quarter sales, but the £10m pay packet for company boss Ken Murphy was the only number in focus.
Upside surprise in weekly US jobless claims at the start of June
The number of people in the States filing for unemployment benefits moved higher during the preceding week.
US producer prices register unexpected drop in May
Wholesale inflation in the US dipped somewhat unexpectedly last month.
Wise shares plunge as income forecasts disappoint investors
Shares in Wise plunged on Thursday as the UK banking and money transfer company said underlying income would be lower than its 2024 fiscal year.
ECB's De Guindos says direction of rates 'clear', but cautious in near-term
Luis de Guindos at the European Central Bank expressed confidence that interest rates were headed lower still, but perhaps more slowly than anticipated.
US CPI undershoots forecasts in May
The cost of living in the States was unchanged last month, leading markets to price in higher odds of a rate cut in September.
UK rail regulator stops short of CMA referral for station catering
The UK rail regulator has recommended that catering outlets with leases due to expire should be put to competitive tender with simpler and standardised contracts introduced for new entrants, but stopped short of referring the industry to competition authorities.
UK's Sunak pledges £17bn in tax cuts, but questions remain over reliability of planned funding
Embattled UK Prime Minister Rishi Sunak has promised almost £17bn in tax cuts in an effort to kick-start his faltering election campaign that sees his Conservative Party trailing badly in the polls ahead of the vote on July 4.