In the papers: EDF, RBS, IKEA
Date
7/28/2016 5:43:32 AM
(MENAFN- ProactiveInvestors - UK) Proactive Investors, 08:31
The Times
EDF poised to approve nuclear plant at Hinkley: The board of EDF, the energy group, is set to meet in Paris to approve plans for an 18 billion nuclear power station at Hinkley Point in Somerset.
Fresh banking crisis puts Renzi on brink: Italy faces an imminent banking crisis and a knife-edge referendum that threatens to topple the prime Minister and unleash political and economic chaos at home and across Europe.
Shoppers stay clear of high street: Shoppers deserted the high street immediately after the vote for Brexit as uncertainty swept the nation. Retail sales, as measured by a regular survey carried out by the CBI, suffered their biggest fall in more than four years during the first weeks after the EU referendum on June 23.
Facebook's app and video drives advance: Facebook comfortably beat Wall Street forecasts on quarterly profit and revenue as the company's mobile app and a drive into video attracted new advertisers and encouraged existing ones to spend more.
Profits disappear at Deutsche as 600 million set aside for legal action: Deutsche Bank's quarterly profits plunged as the lender took a series of charges against potential legal action that all but wiped out its earnings.
Digital revenues fail to halt loss at GMG: The Owner of The Guardian newspaper has revealed it suffered a 173 million pretax loss last year after earnings were hurt by lower digital revenues.
RBS seeks deal on 12 billion rights issue claims: Royal Bank of Scotland is attempting to settle a multibillion-pound legal claim brought by shareholders who say they were misled into supporting the bank's 12 billion rights issue in 2008.
Sky to put Premier League highlights up on Twitter: Sky Sports will publish hundreds of Premier League highlight videos on Twitter next season after striking a partnership deal.
Arm strong enough to brush off Apple hit: A sharp fall in iPhone sales has failed to dent the fortunes of ARM Holdings, the Cambridge-based company that designs most of the world's smartphone microchips and which is about to be taken over by SoftBank, of Japan.
The Independent
Brexit will see U.K. house price growth slow nearly 4% by 2017, economists say: House prices growth is expected to slow following the U.K.'s vote to leave the European Union, according to economists.
Brexit must happen before we will consider trade deal with U.K., U.S. says: The U.S. will not start bilateral trade negotiations with the U.K. before it has split from the EU, according to the Government's trade representative.
IKEA admits to charging customers twice due to computer glitch: Ikea customers that have visited any U.K. store last week have been urged to check their bank statements after the company admitted it charged more than 100 customers twice.
Nintendo reports $234 million loss ahead of launch of Pokemon Go: Pokemon Go's global success has yet to translate into success for Nintendo as the Japanese game company posted a bigger than expected loss.
Boss of bankrupt budget holiday firm Low Cost Holidays warns more travel agents could collapse: Paul Evans, Chief Executive of the bankrupt Low Cost Holidays group, has warned that other online travel agents could fail.
European Commission appoints Chief Brexit negotiator but says he won't speak to U.K. until Article 50 triggered: The European Commission has appointed a Chief Brexit negotiator but has made clear he will not engage with Britain until Article 50 is formally triggered - nor start work until 1 October.
The Daily Telegraph
Oil price hits freefall as U.S. glut takes market by surprise: Global oil prices plummeted over a dollar a barrel within minutes after official U.S. energy data showed an unexpected glut of oil in storage.
Chocolate billionaire Forrest Mars Junior dies aged 84: Forrest Mars Junior, the billionaire scion of the Mars confectionary empire, has died at the age of 84. Mr Mars, who inherited the business together with his brother and sister, ran the company for three decades.
Activist Elliott lifts SABMiller stake: An activist hedge fund that has been agitating for a higher takeover offer for SABMiller has lifted its stake in the FTSE 100 company, in an apparent signal it believes the brewer's blockbuster deal with Anheuser-Busch InBev will not collapse.
Demand for homes undimmed, says housebuilder Taylor Wimpey: One of the U.K.'s biggest housebuilders has said the vote to leave the European Union has not affected demand for homes, despite warnings that buyers would put decisions on hold while the economy remains volatile.
Federal Reserve hints at sooner-than-expected rate rise as economic risks recede: U.S. interest rates could rise again in the coming months, the Federal Reserve has signalled, as policymakers said that risks to the world's largest economy had receded.
Pound remains overvalued despite last month's sharp fall, IMF warns: Sterling remains overvalued even after its big drop in the wake of the EU referendum, the International Monetary Fund has suggested.
Standard Chartered hires IMF's Jose Vinals as new Chairman: British-based bank Standard Chartered is to appoint senior International Monetary Fund Executive Jose Vinals as its next Chairman after a 17-month search to find a candidate for the top job.
City Airport 344 million expansion plan takes off: A 344 million plan to expand London City Airport has been given the green light by the Government, just five months after a group of international investment funds swooped on the site for more than 2 billion.
The Guardian
U.K. car manufacturing hits high but industry warns of Brexit effect: British car manufacturing hit a 16-year high in the first half of 2016, but the industry says future growth, jobs and investment are at risk following the Brexit vote.
BHS: Frank Field calls on SFO to launch formal inquiry into demise: The co-author of a parliamentary report into the demise of BHS has called on the Serious Fraud Office to launch a formal inquiry into the actions of the department store chain's former Owners.
U.K. economy grew by 0.6% before Brexit vote: Britain's economy grew by a faster than expected 0.6% in the second quarter as businesses appeared to shrug off Brexit jitters in the run-up to the 23 June referendum.
U.K. Bosses went on share-buying spree after EU referendum: Britain's top company Bosses went on a share-buying spree in the immediate aftermath of the EU referendum, spending more money on their own stock than at any time in the last decade.
GSK says Britain is still an attractive place to invest: GlaxoSmithKline is to invest 275 million at three of its U.K. factories with the creation of new jobs, as the pharmaceutical group insisted the country is still an attractive place to invest despite the Brexit vote.
Daily Mail
BP dividend here to stay despite huge 47 billion Gulf spill bill as profits fall 45% in a year on oil price slide and costs: Oil giant BP will continue to pay a dividend despite racking up a huge 47billion for the 2010 Gulf of Mexico explosion and oil spill.
Under-offer British tech star ARM reports robust profits as it shrugs off smartphone worries: ARM Holdings, the British technology star which last week agreed to be bought by Japan's SoftBank, reported strong second quarter growth in both revenues and profits.
Broadcaster ITV puts battle plans in place for Brexit as shares jump on profits rise: ITV revealed it has put in place cost cutting measures in order to combat the economic uncertainty caused by the U.K.'s decision to leave the European Union as it posted a rise in first half profits.
FTSE firms told to come clean on multi-million pound bonuses for their Bosses to restore faith in the City: Blue chip firms have been told to come clean on multi-million pound bonuses for their Bosses in order to restore trust in the City.
Daily Express
Brexit bounce: Key FTSE 250 index wipes out EU referendum losses in just a month: Britain's economy received another Brexit boost as the key FTSE 250 index of companies all but wiped out the losses sustained in the uncertainty following the EU referendum vote.
Santander could be about to axe rates on its popular 123 bank account: Millions of Santander bank customers could have their in-credit interest rates slashed, as the provider looks to cut perks on the popular 123 current account.
Britain's Brexit boom: U.K. GDP beats expectations and jumps 0.6% in second quarter of 2016: Britain's economy shrugged off the doom-mongers to grow by 0.6% in the second quarter of 2016, official figures revealed.
The Scottish Herald
Scottish construction sector stalls amid Brexit uncertainty: Growth in Scotland's construction sector stalled in the latest quarter amid the uncertainty caused by the Brexit vote but many firms expect to increase activity in the coming year, research has found.
FanDuel signs up Opta for U.K. launch: Fanduel has demonstrated the focus it is placing on its U.K. launch by signing a partnership with sports data firm Opta.
McColl's transformation on track: Retail group McColl's is accelerating its growth plans after seeing like-for-like sales drop by 2.2% as its newsagent estate contends with price deflation and a lower demand for tobacco and newspapers.
Minoan Group share issue: Minoan Group has issued 3,000,000 shares at 8p to settle what it called 'certain existing liabilities'. The Glasgow-based travel agent and resort developer made an application for the shares to be admitted to trading on the alternative investment market from next Tuesday.
Investment sees profit dip at Daysoft: Daysoft, the Blantyre-based online seller of daily disposable contact lenses has seen profits fall by 13% to 1.5 million after investing in substantial re-organisation of its manufacturing processes, and equipment upgrades.
Brexit vote fallout could push Scottish firms over the edge say experts: Uncertainty caused by the Brexit vote could pose big challenges for companies in Scotland following a sharp rise in insolvencies in the latest quarter, experts have warned.
Beer sales up, but shops not pubs benefit: Beer sales across the U.K. grew 1.5% in the second quarter, meaning 31 million extra pints were consumed versus this time last year. The figures, published in the British Beer & Pub Association's quarterly Beer Barometer, reveal further signs of reversing a long period of decline.
The Scotsman
Shawbrook's profits up but says too soon to judge Brexit effect: Challenger bank Shawbrook has brushed off an already-disclosed additional impairment charge in its second trading quarter to post a 14% rise in first-half underlying pretax profits.
Car retailer Lookers set to drive growth in Scotland: Lookers Audi is mulling the acquisition of further sites in Scotland in a twin-track strategy alongside organic growth as it targets turnover of 385 million north of the Border this year.
Marston's welcomes sales boost thanks to Euro 2016: Pubs group Marston's said that the tailwind to sales of UEFA Euro 2016 has helped offset mixed summer weather.
Capital move for financial planner Acumen: Acumen Financial Planning has boosted its business in Edinburgh with the acquisition of established practice Duckworth Alexander for an undisclosed sum.
Burger giant McDonald's to create thousands of U.K. jobs: McDonald's is to create 5,000 jobs by the end of next year, the fast food restaurant giant has announced.
City A.M.
The studio behind the James Bond franchise is reportedly in talks over a 300 million takeover with a U.S. property fund: The U.K.'s legendary Pinewood Film Studios could reportedly be sold within the week to an international property fund.
More than half of U.K. SMEs say banks are not 'business friendly', according to a new survey released: More than half of the U.K.'s small and medium-sized businesses say that banks are not business friendly. A survey of 850 SMEs by business loan specialist LDF found that 52% complaining about the banking sector's support.
GoPro has announced two new cameras despite seeing revenues plunge over the last three months: Plunging revenues have not been enough to halt optimism at camera maker GoPro. The U.S. firm has announced plans to launch a consumer drone and the latest version of its wearable cameras by the end of the year.
Groupon hikes revenue forecasts despite swinging to $55 million quarterly loss: Groupon has reported a loss of $54.9 million (41.5 million) for the second quarter, a year after notching a profit of $110 million. However, the discounts firm said that adjusted for charges and other items, it would have meant a loss of just $0.01 per share.
Emerging markets are winning the dash for cash after Brexit vote: Emerging markets are one of the big winners from the U.K.'s vote to leave the EU as economies have benefitted from an influx of foreign capital.
Brewin Dolphin soars on results that increase takeover speculation: Shares in wealth Manager Brewin Dolphin jumped over ten% despite a third quarter trading update that Boss David Nicol downplayed as 'steady progress'.
Private equity Boss predicts autumn M & A activity boost for City of London: The Chief Executive of private equity firm 3i expects the City to experience a pick-up in mergers and acquisitions (M & A) activity after the summer.
Center Parcs to launch its first village outside of the U.K.: Activity holiday group Center Parcs is gearing up to launch its first site outside of the U.K. in 2019. Center Parcs has gained planning permission for its 395-acre 'village' in County Longford, Ireland.
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