News

Opec v Trump: oil markets retreat as rifts emerge

Oil prices retreated from multi-year highs as US President Donald Trump lashed out at the world’s largest oil producing nations during a meeting which exposed rifts at the heart of the Opec cartel. President Trump blamed the group for forcing […]

Nissan to lay off hundreds of workers at Sunderland plant

Nissan is to lay off hundreds of workers from its car plant in Sunderland, as it shifts production away from diesel vehicles amid a sharp fall in sales. The plant employs 7,000 workers and is the UK’s biggest car maker, […]

Takeda raises offer for Shire for a fourth time to £42.8bn

Japanese drug maker Takeda has upped its offer to buy Irish rival Shire for a fourth time, pushing its bid to £42.8bn. The latest cash-and-shares offer is valued at £47 per share in Shire – just 50p above the level […]

Senior Porsche manager arrested in connection with Dieselgate scandal

A senior manager at Porsche has been arrested in Germany in connection with the Dieselgate emissions scandal, it emerged on Friday. The identity of the arrested man has not been confirmed, but he is believed to be Jörg Kerner, head […]

Former Credit Suisse banker to oversee sale of taxpayers’ stake in RBS

A former Credit Suisse banker has been hired to oversee the sale of taxpayers’ majority stake in Royal Bank of Scotland. Charles Donald becomes head of UK Government Investments’ Financial Institutions Group (FIG), the body that manages the Government’s 71pc […]

Investors punish Dettol-maker Reckitt Benckiser for missing sales targets

Reckitt Benckiser investors have punished the Nurofen and Harpic maker for missing its first-quarter sales targets. RB, the consumer goods giant behind Durex and Cillit Bang, chalked up 2pc like-for-like growth in the first three months of the year, but […]

HSBC turns its back on coal

HSBC has become the latest financial institution to turn its back on financing high carbon energy projects after ruling out funds for new coal-fired power plants. The British bank will also stop providing financial services to any new offshore oil […]

Bonmarché joins chorus of gloomy retailers

Sales at Bonmarché continued to deteriorate in the final quarter of its financial year, against a backdrop of distress on the UK high street. The retailer, which sells clothing for women over the age of 50, reported an 11.1pc decline […]

Tarmac owner CRH could float US division

The boss of buildings materials firm CRH has said he has not written off undertaking a partial or full New York listing of the company’s US division, even after ruling out the move in the past. Albert Manifold said that […]

Bank of England heads for split on interest rates as policymaker clashes with Carney

The Bank of England may be set for a split vote at its May meeting, after a hawkish policy maker threw down the gauntlet for an interest rate hike. Michael Saunders, a member of Threadneedle Street’s Monetary Policy Committee, was […]