Ifa News Round-Up
StanChart profits miss estimates but unveils $1bn buyback
Standard Chartered on Thursday announced a new $1bn share buyback as annual profits rose by almost a third on higher global interest rates, but still missed estimates after a sharp rise in bad debt provisions.
Moneysupermarket FY boosted by travel as Covid curbs eased
Price comparison website Moneysupermarket. com said annual earnings rose, driven by a strong performance in its travel unit as international Covid pandemic restrictions were lifted.
Barclays profits fall 14% on bad debt charges, over-issuance error
Barclays Bank said annual profits fell 14%, driven by poor performance at its investment unit, a rise in debt impairment provisions and the costs of a massive trading error in the US.
Nicola Sturgeon resigns as Scotland First Minister
Scotland’s first minister Nicola Sturgeon unexpectedly resigned on Wednesday, and admitted she had been wrestling with the decision "for weeks".
Air India to buy 470 Airbus, Boeing jets in massive order
Air India has placed a massive order for 470 Boeing and Airbus aircraft, reflecting the pace of growth in an increasingly affluent country that is also rebounding from the Covid pandemic.
TUI sees 'encouraging' summer bookings as Q1 losses narrow
Holiday operator TUI said summer bookings were up 20% and reported a narrowing of first-quarter losses as travel continued to rebound from the effects of the Covid pandemic.
Flutter considers US listing as FanDuel contribution grows
Gambling outfit Flutter Entertainment said it was considering a US listing and would starting consulting shareholders on the matter as its FanDuel operation grew in importance to the group.
Tullow Oil seeks arbitration over Ghana tax dispute
Tullow Oil has filed requests for arbitration with the International Chamber of Commerce in London over a $387m tax dispute with Ghana.
ASOS names Sean Glithero as new CFO
UK fast fashion retailer ASOS said it had appointed former Matchesfashion chief financial officer Sean Glithero as its new interim CFO.
Victrex sees softer volumes, weaker end markets in Q1
Polymer products maker Victrex held full-year guidance but said volumes had been softer during the first quarter with ongoing weakness in several of its end markets as it reported a rise in revenue.
FirstGroup South Western rail franchise extended for two years
FirstGroup said it had been granted a two-year extension for its South Western Railway franchise, by the UK government.
Redrow holds divi, scraps 2024 guidance: Sees better start to H2
UK house builder Redrow held its dividend as it reported a fall in interim profits and scrapped 2024 guidance, but noted that early indications for the rest of the year were better than expected.
Ofcom to probe inflation-busting price rises on phone, internet deals
Britain's telecoms regulator is starting a probe into inflation-busting price rises mid-contract for phone and broadband customers.
AstraZeneca FY core EPS in line; Aims for growth in 2023
Pharma giant AstraZeneca reported full-year earnings in line with expectations and said it expected 2023 core profits to increase by high-single to low-double digits.
Sweden lifts rates to 3%, sees rise in spring, to start bond sales in April
Sweden's central bank lifted its benchmark policy rate to by 0. 5 percentage points to 3% on Thursday and said a further rise was likely in the spring as it also announced a government bond sale from April to reduce asset holdings at a faster pace.
Barratt cuts dividend as higher mortgage costs hit housing market
UK housebuilder Barratt cut its dividend as the housing market started to cool down in response to rising interest rates and mortgage costs.
Maersk issues profits warning as freight rates, volumes slump
Shipping giant AP Moller-Maersk issued a profit warning on Wednesday due to a slump in container volumes and freight rates.
Frasers says Rascal Clothing brand purchase not proceeding
Frasers Group said it was no longer going ahead with its acquisition of the Rascal Clothing brand from JD Sports.
BP profits surge to record $27bn, unveils $2.75bn share buyback
BP more than doubled annual profits to a record $27. 6bn as the Ukraine war in sparked higher gas prices, fuelling more calls for tougher taxes on the sector as consumers face a 40% rise in bills this April.
UK retail sales start new year on back foot
UK retail sales growth slowed last month, industry data showed on Tuesday, as the festive boost faded.