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FTSE 100 Live: Oil near $100 a barrel, 888 profit warning, shares seen higher

Apple’s former head of design is in talks to raise $1 billion dollars to take on its iPhone with an AI-powered rival. London-born Jony Ive, whose work was instrumental to the design of a suite of Apple products including the iPod, iPhone and MacBook, is seeking to raise the funds from Japanese investing giant SoftBank in a partnership with ChatGPT maker OpenAI, according the FT. Ive and OpenAI boss Sam Altman are exploring what an AI-powered consumer device would look like, including ho...
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Source: yahoo.com

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FTSE 100 Live: 'Recession looking increasingly likely' as private sector declines, shares higher

Retail sales figures have kept the UK economy in focus after yesterday’s knife-edge rates decision by the Bank of England. The Federal Reserve also paused this week but its hawkish tone has left Wall Street fearing a longer run of high interest rates. Elsewhere, Microsoft’s Activision deal has moved a step closer to clearance by the the UK’s Competition and Markets Authority.
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Source: yahoo.com

FTSE 100 Live: THG results, Arm IPO, shares seen higher

FINANCIAL advice group Brooks Macdonald saw funds under management rise by more than £1 billion to £16.8 billion this year and chief executive Andrew Shepherd says more and more people will rely on his services. While there are “short-term macroeconomic headwinds” the longer-term future looks bright, says the group. The John Lewis Partnership fell to another big loss of £59 million for the half-year as Dame Sharon White admitted her “transformation” p...
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Source: yahoo.com

FTSE 100 Live: UK retail sales drop 1.2%, Shares set to finish week down 250 points

The FTSE 100 index is within sight of its lowest close of the year after a grim week for global stock markets. London’s top flight fell again today, leaving it down by 3% since Monday as worries mount globally over higher-for-longer interest rates. Rising borrowing costs have added to pressure on the retail sector, resulting in today’s 1.2% fall in sales during washout July.
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Source: yahoo.com

FTSE 100 Live: Stocks sink further in China, YouGov mulls US listing, shares slightly lower

Concerns over China’s debt-laden property sector today meant a downbeat start to the week for global stock markets. Shares in Country Garden slumped in Hong Kong to a new record low after it suspended trading of 11 onshore bonds, adding to the ongoing fears about China’s economy. West End property investment business Shaftesbury Capital today took a new step to bear down on its heavy debt burden after securing a £200 million loan.
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Source: yahoo.com

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