Ifa News Round-Up
Standard Chartered unveils $1bn buyback as first-half profit beats estimates
Standard Chartered lifted annual guidance and launched a $1bn share buyback after first-half profits rose 20% on the back of soaring interest rates.
NatWest H1 profits beat expectations as Rose row rumbles on
UK bank NatWest on Friday reported better-than-expected interim profits only days after it was rocked by the resignation of chief executive Alison Rose over leaking of details of hard-right former political party leader Nigel Farage.
Shell profits fall as oil, gas prices decline
Shell on Thursday posted a sharp fall in second-quarter profits as oil and gas prices declined a year after Russia’s unprovoked invasion of Ukraine sparked a surge in the cost of energy.
Barclays H1 profits surge to £4.5bn but bad loan charges rise
Barclays became the second bank to post surging profits on the back of higher interest rates and lift its provisions for bad loans.
Lloyds Bank interim profits surge, but but debt provisions surprise market
Lloyds Bank on Wednesday reported another surge in earnings, although slightly below expectations, and set aside more cash for bad loans amid pressure to provide hard pressed savers better returns.
Unilever H1 profits up 3.3%, sees price growth moderating
Consumer goods giant Unilever delivered a 3. 3% rise in interim earnings driven by higher prices and said it expected underlying price growth to moderate through the year.
Reach profits fall as Facebook relegates news content
UK newspaper publisher Reach reported a 23. 5% fall in half-year operating profit as it was hit by Facebook’s decision to relegate news content.
Ryanair Q1 profits soar, but cautious on winter demand
Low-cost airline Ryanair reported a better-than-expected rise in first-quarter profit, boosted by strong Easter sales, but was cautious about demand over the coming months due to aircraft delivery delays from Boeing and price-conscious passengers.
Ocado to get £200m from AutoStore in patent row settlement
UK online supermarket Ocado has won a £200m settlement from Norwegian company AutoStore after a three-year legal battle over ‘robot' patents.
Vodafone Q1 revenue rises, appoints new CFO
Telecoms giant Vodafone said first-quarter group service revenue rose 3. 7%, helped by its UK operations.
Ocado shares surge as grocer swings to H1 profit
UK online supermarket Ocado held annual guidance after swinging to a core profit in its first half and said its retail earnings would be “marginally positive” for the full year.
Woodside flags delays cost blowout at Senegal development
Energy firm Woodside said its Sangomar development project in Senegal would be delayed after a cost blowout.
Wise holds guidance as Q1 on higher interest rates, customers
London-listed fintech firm Wise held annual guidance after reporting a rise in first-quarter revenue driven by higher customer numbers and interest rates.
China Q2 GDP misses expectations
China's second-quarter gross domestic product grew by 6. 3% year on year, missing expectations, according to official data published on Monday.
ITV 'no longer looking' to buy All3Media
UK broadcaster ITV said it was no longer looking at buying TV and film production business All3Media, owned by Warner Bros Discovery and Liberty Global.
Domino's appoints Andrew Rennie as CEO
Domino's Pizza said it had appointed Andrew Rennie as chief executive officer with effect from August 7 2023.
Dr Martens makes strides on rectifying US issues, trading in line
UK bootmaker Dr Martens said progress had been made rectifying the US warehousing fiasco that led to a series of profit warnings, and trading since the start of the current financial year had been in line with expectations.
EU gives green light to Broadcom VMware deal
EU competition authorities have approved US chipmaker Broadcom's proposed $61bn takeover of cloud computing firm VMware after offering up remedies for rival Marvell Technology.
Winkworth shares plunge after profit warning on weak housing sales
Shares in UK estate agent Winkworth plunged on Wednesday as the company issued a profit warning due to a slump in house sales.
Sainsbury's holds guidance, sees fall in food inflation
UK supermarket chain Sainsbury’s reported an 11% rise in grocery sales in the four months to June 24 and maintained annual guidance as it said food inflation was showing signs of falling.