Ifa News Round-Up
UK borrowing up but gives Hunt room for tax policy changes
UK public borrowing came in less than expected in the first seven months of the financial year, according to official data published on Tuesday, a day ahead of finance minister Jeremy Hunt's autumn budget.
Ashtead shares slump as FY profit, revenue outlook cut on weak US
Shares in Ashtead slumped on Monday as the industrial equipment company lowered full year revenue and profit forecasts after a quieter hurricane season and the writers’ and actors’ strike in the US and revealed it would take a $2bn depreciation charge.
German October PPI falls 11% year-on-year
German producer prices fell 11% on an annual basis and in line with expectations in October, the federal statistics office Destatis said on Monday.
M&S cautious on H2 despite 52% jump in interim profit; Divi restored
UK retailer Marks & Spencer on Wednesday reinstated its dividend and delivered a 56. 2% rise in first-half profits, but warned sounded a note of caution about future trade in the run in to Christmas citing higher interest rates, weather and geopolitical events.
Maersk to cut 10,000 jobs; lowers profit guidance
AP Moller-Maersk is to cut more than 10,000 jobs worldwide, the shipping group confirmed on Friday, after demand and prices both fell sharply.