Business

Evidence of turnaround boosts share price for UK grocer Morrisons

Morrisons, Britain’s fourth-biggest grocer, reported better than expected results on Thursday, suggesting a recovery under its new management was gaining momentum and sending its share price sharply higher. The Bradford, northern England-based group reported a rise in first-half profits for the first time in four years as well as a third straight quarter of underlying sales growth. It also raised ... Read More »

Britain to narrowly dodge recession as economy flatlines – Reuters poll

Britain is now expected to narrowly dodge a mild recession that was widely predicted after the country voted to leave the European Union, but the government will still need to add fiscal stimulus to support growth, a Reuters poll found. Before – and soon after – the June 23 referendum economists were almost united in saying a vote to leave ... Read More »

Benefits of ‘dark pool’ share trading outweigh risks, UK watchdog says

The benefits of dark pools, where investors can trade shares anonymously, outweigh the risks, an analysis from Britain’s markets watchdog said on Thursday. Dark pools, which feature in Michael Lewis’s best-seller book “Flash Boys”, have come under fire from some financial experts who say they are poorly regulated and that traders working in them do not always get the best ... Read More »

UK retail sales show little sign of post-Brexit vote slowdown

British retail sales softened only slightly in August after a bumper July, suggesting June’s vote to leave the EU has had little impact on shoppers’ willingness to spend, official figures showed on Thursday. Spending by shoppers has been largely robust in the wake of June’s referendum decision to leave the European Union, despite consumer sentiment initially suffering its sharpest monthly ... Read More »

May approves Hinkley Point nuclear plant, sets tighter controls

Britain gave the go-ahead for a $24 billion (£18.1 billion) nuclear power plant on Thursday, ending weeks of uncertainty that strained ties with China and France but also signalling a more cautious approach to foreign investment in critical infrastructure projects. Prime Minister Theresa May’s government said it would proceed with the Hinkley Point C project in southwest England, approving French ... Read More »

FTSE steadies as Next slump offsets Morrison rally

Britain’s top equity index steadied near a one-month low on Thursday, with a slump in Next (NXT.L) following poor results offsetting a strong rally in Morrisons (MRW.L) after a rise in its first-half profit for the first time in four years. The blue-chip FTSE 100 index .FTSE was up 0.06 percent at 6,677.55 points after falling to 6,654.82, coming close ... Read More »

The strange story of a seized Hanjin ship and its lonely crew

Sprinkled across the oceans around the globe, some 60 of Hanjin Shipping’s cargo vessels are stranded at sea. The company filed for bankruptcy two weeks ago. Here’s the story of one of those ships, its captain and its crew. The Hanjin Rome is nestled between countless other ships off the coast of Singapore, a towering container vessel. As with any ... Read More »

Flights cancelled as French air traffic controllers strike

BA and Ryanair have cancelled flights on Wednesday and Thursday as French traffic controllers start their fourteenth bout of industrial action this year. Ryanair cancelled 22 flights on Wednesday night and 72 on Thursday. BA has also cancelled flights but declined to say how many, saying the information goes out of date quickly. Flights that normally route through French air ... Read More »

Drone racing takes to the Sky with $1m investment

Sky is spending $1m (£757,000) to bring live drone racing to UK viewers. The satellite broadcaster is making the investment in the Drone Racing League (DRL) to bring competitive flying to its new Sky Sports Mix channel. The league specialises in “first person-view” drone racing, which features pilots flying custom drones through complex three-dimensional racecourses. One of the first events ... Read More »

Bayer clinches $66bn Monsanto takeover in controversial deal

Bayer has clinched its takeover of controversial “frankenstein” foods company Monsanto for $66bn (£50bn) in a deal that creates the world’s biggest maker of seeds and pesticides. The takeover, finalised today, is the largest ever by a German company and the biggest acquisition in the world this year, but some analysts have already labelled the deal a “horror story”. The fee is ... Read More »