Financial News

Interest Rates kept at 0.5% by Bank of England
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Interest Rates kept at 0.5% by Bank of England

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The Bank of England Monetary Policy Committee has kept interest rates stable at 0.5% for another month. Governor Mark Carney said that weak first quarter output statistics had been a key factor in the decision, but was confident that positive momentum would reassert itself in time. However, the Bank cut its GDP growth forecasts for…

Morrisons delivers ahead of expectations
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Morrisons delivers ahead of expectations

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Morrisons (LON:MRW) beat tough retail industry conditions and analyst forecasts to deliver like-for-like non-fuel sales growth of 3.6% during the 13 weeks to 6th May. However, a major contributor to this improvement was a considerable strengthening of the group’s wholesale arm through a new programme supplying McColl’s outlets. Transaction numbers in the retail operation grew…

Imperial Brands shares rise despite earnings drop
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Imperial Brands shares rise despite earnings drop

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FTSE 100 tobacco giant Imperial Brands (LON:IMB) beat forecasts as it announced its first-half results this morning. While net revenues fell by 5% to £3.5 billion, the company outperformed the wider industry, and volumes in its growth brands were up by 6.3%. Total revenues fell by just 0.1%, partly due to investments in alternative products…

UK retail sector woes continue in April

UK retail sector woes continue in April

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The UK high street has failed to bounce back strongly in April after poor weather kept consumers at home in March. According to the latest British Retail Consortium figures, like-for-like sales are down by 4.2% relative to April last year. Some of this can be linked to the timing of Easter and the volatile weather…

UK house prices suffer biggest monthly fall since 2010
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UK house prices suffer biggest monthly fall since 2010

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UK house prices posted their largest monthly fall in eight years during April, according to Halifax’s House Price Index. While prices were up by 2.2% year-on-year, they fell by 3.1% relative to March and 0.1% against the previous quarter. To a degree, this drop could represent increased pricing volatility in the monthly measure as sales…

Shire and Takeda agree £46 billion takeover deal

Shire and Takeda agree £46 billion takeover deal

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The board of FTSE 100 drug firm Shire (LON:SHP) has recommended that shareholders accept Takeda’s takeover bid. The offer of $33.03 in cash and 0.839 New Takeda shares values the company at approximately £46 billion. The Dublin-based outfit had received five prior offers since March from its Japanese rival. Shire management rejected the prior bids…

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