Market Pulse
BP's rating affirmed at 'A' by Fitch with 'stable' outlook
Fitch Ratings has affirmed oil major BP's long-term Issuer Default Rating (IDR) at 'A', with a ‘stable’ outlook.
Johnston Press downgraded by Moody's with 'stable' outlook
Moody's has downgraded the ratings of Johnston Press, including its Corporate Family Rating to Caa1 from B3, its Probability of Default Rating to Caa1-PD from B3-PD, and the rating of the £225m senior secured notes issued by its subsidiary, Johnston Press Bond to Caa1 from B3.
Big bonus scheme to reduce Facebook's tax obligation
Facebook was set to hand out share bonuses worth £280m to its staff, it was revealed on Monday, in a scheme which would significantly reduce its tax obligations.
Barclays appoints new M&A team
Barclays has hired nine people to work within its EMEA banking team as it looks to boost its mergers and acquisitions business.
US pre-open: Wall Street set for lower open as investors pause for breath
US futures pointed to a slightly weaker open on Wall Street despite a rebound in oil prices, as investors paused for breath following three weeks of gains.
Tech advances could mitigate third runway pollution, report suggests
Environmental campaigners were dealt a blow by an independent transport think-tank on Monday, with a new report suggesting technical improvements would mitigate any environmental effects of a new runway being built at Heathrow or Gatwick.
Europe midday: Stocks push lower on profit-taking as focus shifts to ECB
European stocks pushed lower on Monday, with investors taking profits after recent gains as the focus shifted to this week’s European Central Bank meeting.
German factory orders dip in February
German manufacturing orders dipped at the start of the year amid lower domestic demand.
Asia report: China gains amid mixed Monday
Shares in China led the rises in Asia on Monday, after the country's leaders laid out their plans to steer the flagging economy to new, lower growth targets for the year.
China's foreign exchange reserves were little changed in February
The Chinese government's stash of foreign reserves was little changed last month, leading one think-tank to the conclusion that Beijing's policies of tighter capital controls and communicating better that it was not its intention to devalue the currency were bearing some fruit.
Moody's downgrades StanChart's long-term debt ratings
Moody's downgraded its rating on Standard Chartered's long-term debt on expectations the lenders' profitability would remain weak over the next two years and the more "challenging environment" in some of the markets in which it operates.
China hits out as US places sanctions on ZTE
There was angry rhetoric from China's foreign ministry towards the United States on Monday, after the plans to place sanctions on Chinese telecommunications equipment and smartphone manufacturer ZTE Corporation came to light.
Credit Suisse ups LSE target price as potential bidding war looms
Credit Suisse upped its target on London Stock Exchange to 3,350p from 2,900p to reflect the value of cost synergies accruing to LSE shareholders from the proposed merger with Deutsche Boerse on its estimates.
EEF cuts forecast for 2016 UK manufacturing growth
UK manufacturing sector activity is expected to grow less than previously estimated this year amid jitters ahead of the nation’s referendum on its European Union membership, the EEF has said.
Italian industrial prices fall in January
Industrial prices declined in Italy at the start of the year, weighed down in particular by the drop in prices on goods sold domestically.
WPP buys majority stake in London-based digital agency Potato
Media agency WPP has acquired a majority stake in the holding company of digital agency Potato through its digital services agency, AKQA.
CMA extends deadline for retail banking investigation
The Competition and Markets Authority has decided to extend the deadline for its investigation into the UK retail banking sector, which it believes is not competitive enough.
Barclays slips on Deutsche Bank downgrade
Deutsche Bank downgraded Barclays to ‘hold’ from ‘buy’ and cut its price target to 180p from 255p, saying the stock was more now more of an investment case for 2017-18 rather than 2016.
EDF shares slump as CFO quits; Hinkley Point in focus
Shares in EDF slumped on Monday after the French energy giant confirmed that chief financial officer Thomas Piquemal has quit.
Mulberry appoints Neil James Ritchie as new FD
Luxury handbag maker Mulberry announced the appointment of Neil James Ritchie as group finance director with effect from 16 May.