Ifa News Round-Up
German July retail sales fall, miss forecasts
German retail sales fell by 0. 8% month-to-month in July, missing forecasts of a 0. 3% increase, according to official data released on Thursday.
Prudential H1 profits rise as new CEO unveils pivot towards Asia
Insurer Prudential on Wednesday posted a better-than-expected 6% rise in first-half operating profits as Chinese investors bought its products in Hong Kong after Covid restrictions were lifted, and also outlined a new investment strategy pivot towards Asia.
Direct Line appoints Aviva's Adam Winslow as CEO
Direct Line said it had appointed Adam Winslow as chief executive to succeed Jon Greenwood who has been acting CEO since January.
CMC Markets shares slump on operating income warning
Financial trading platform CMC Markets said annual net operating income would be lower than last year as revenues continued to fall in a "challenging" environment.
Powell warns inflation still 'too high'
US interest rates could still be on the way to battle inflation that is "too high", Federal Reserve Chair Jerome Powell warned on Friday.
Harbour Energy trims production, capex forecasts
North Sea oil and gas producer Harbour Energy trimmed annual production and capital expenditure forecasts due to drilling delays at its Beryl operations.
Ithaca sees lower production in 2024 due to UK govt windfall levy
Ithaca Energy said it expected lower production levels next year in response to the UK government's windfall tax, despite reporting a strong rise in first half profits as higher production and falling costs offset lower oil and gas prices.
Eurozone Aug business activity contracts at faster pace - flash PMI
Eurozone business activity contracted at an accelerating pace in August as the region’s downturn spread further from manufacturing to services, according to PMI survey data published on Wednesday.
UK's Ofgem fines Morgan Stanley £5.4m for WhatsApp breaches
UK energy regulator Ofgem has fined the US bank Morgan Stanley more than £5. 4m after its energy traders used WhatsApp to talk about transactions.
Wood Group lifts FY guidance on contract wins, strong H1
Engineering and consultancy company Wood Group on lifted annual earnings guidance after winning major contracts as it posted better-than-expected adjusted interim earnings, driven by a strong order book.
Microsoft offers new deal on Activision bid to appease UK's CMA
Microsoft has offered a new deal on its long-running attempt to buy computer games maker Activision in an effort to gain approval from UK competition authorities.
Crest Nicholson shares slump as profit guidance lowered
UK home builder Crest Nicholson lowered annual profit forecasts after a worsening of the housing market amid rising inflation and interest rates.
Asking prices for UK homes drop sharply in August - Rightmove
UK advertised house prices have fallen again as surging borrowing costs deter first-time buyers, according to estate agent Rightmove.
Wet July weather sees retail sales fall by worse-than-expected 1.2%
UK retail sales fell 1. 2% last month compared with June, as wet weather literally turned a key summer shopping month into a damp squib for businesses.
Eurozone CPI falls again in July
Eurozone inflation slowed again in July, data from the European Union showed on Friday, raising hopes that the European Central Bank may slow its cycle of rate hikes.
Bank of Georgia shares surge on share buyback, H1 profits up 33.5%
Bank of Georgia on Thursday reported a 33. 5% jump in half year profits, driven by a sharp rise in net interest income and also unveiled a share buyback of 62m Georgian lari (GEL).
BAE buys Ball Aerospace for $5.5bn
BAE Systems on Thursday said it had bought Ball Corporation's aerospace business $5. 55bn in cash as it looked to cash in on higher government defence spending in the wake of Russia's invasion of Ukraine.
United Utilities fined £0.88m after taking 22bn litres from aquifer
United Utilities has been fined £800,000 by Britain's Environment Agency after illegally abstracting 22bn litres of water from a vital aquifer in Lancashire and causing damage that "will take years to receover".
UK CPI falls to 6.8% in July
UK consumer price inflation slowed again to 6. 8% in July, driven by falling food and energy prices, according to official data published on Wednesday.
Admiral H1 profits rise, but dividend cut
Admiral Group reported a small rise in half-yearly earnings as it hiked prices in response to claims inflation, but also slashed its interim dividend by 15%.