attempts | Common News Update

Mar172020 by adminNo Comments

FTSE attempts fightback after coronavirus market meltdown

Business

The FTSE 100 has started Tuesday with a fightback, following days of market turmoil due to increasing fears of coronavirus.London's blue-chip index was up around 2% shortly after opening, while the domestically-focused FTSE MID250 index gained 2%. However, shortly after 8.30, the FTSE 100 went into reverse, down more than 0.5%.European stocks were also attempting a recovery, with the pan-European STOXX 600 index up 2.7% just after 8am UK time, having fallen to its lowest point on Monday since November 2012.The Asian markets were mixed overnight, with Singapore and Malaysia both hitting their lowest points in around a decade but Tokyo and Hong Kong showing some positive notes. ...

Debenhams' shares soar as Ashley attempts boardroom coup

Business

Shares in Debenhams soared after Mike Ashley launched an attempted boardroom coup at the troubled department store chain.Rocketing up to 40% in early trading, they still ended the day up 16%. Over at Sports Direct, shares initially fell by 2% in response to the retail tycoon's plan to step down from the firm he founded back in 1982 and take the helm at struggling retailer, but were 0.6% higher at market close.Under the move, Sports Direct is seeking to remove of all but one of the current Debenhams board members and put the billionaire in charge of the business, which earlier this week issued a fresh profit warning citing higher turnaround costs. Image: Mike Ashley would step down as Sports Direct chief executive under the plan Mr Ashley, who through ...

PM attempts to reassure business on Brexit

Business

The Prime Minister has struck a conciliatory note to business leaders who have demanded that Britain stays in the Customs Union in a transition period after the legal date of Brexit in 2019.Speaking to Sky News at the G20 Summit, Theresa May chose not to restate the position of the Conservative manifesto that "we will no longer be members of the Customs Union".Instead when asked if businesses should now plan to be out of the Customs Union on 30 March 2019, the PM told Sky News: "We can't be members of every part of the Customs Union but we want to continue to have tariff free and as frictionless trade across borders as possible because we want to ensure we have that good trading relationships with the EU".That language appears to take the Government's position back to where it was at the t...