Headline News
Federal Reserve cuts rates by 'timely' 50bp, Bowman dissents
The US central bank surprised markets with a half percentage point interest rate cut.
Meyer Burger to slash workforce, shares fall
Shares in Meyer Burger fell sharply on Wednesday after the solar panel manufacturer announced plans to axe around a fifth of its workforce and shake up management, including replacing its chief executive.
GSK settles two Zantac cases in California
GSK announced on Wednesday that it has reached confidential settlements in two lawsuits filed in California State Court related to its discontinued heartburn medication, ‘Zantac’, or ranitidine.
UK house prices push higher for fifth month in a row
UK house prices rose for the fifth successive month in July, official data showed on Wednesday, as the market continued to bounce back.
End of summer weighs on supermarket sales
Sales growth across the UK’s grocery sector slowed over the last month, industry data showed on Wednesday, as shopping habits returned to normal after the long summer break.
Campari head steps down after less than six months in charge
The chief executive of Italy’s Davide Campari-Milano has resigned, it was announced on Wednesday, less than six months after he took up the role.
Interim profits spark at M&C Saatchi
M&C Saatchi posted a jump in first-half profits on Wednesday, boosted by an uptick in client spending, leaving it on course to meet full-year guidance.
Reckitt said to have started talks on £6bn sale of homecare assets
Reckitt Benckiser has reportedly started early discussions with some of the potential suitors for its homecare assets, which could fetch more than £6bn in a deal.
PZ Cussons reports drop in full-year revenue, profit
Consumer goods company PZ Cussons reported a 10. 6% drop in full-year revenue to £527. 9m on Wednesday, primarily due to the significant devaluation of the Nigerian naira against sterling.
Inflation unchanged at 2.2% ahead of BoE rate announcement
UK inflation was unchanged in August, according to figures released on Wednesday by the Office for National Statistics, remaining above the Bank of England’s target.