Weekly review
By Duncan Ferris
Date: Friday 20 Sep 2019
(Sharecast News) - London's FTSE 100 index ended the week 22.54 points lower to 7,344.92.
Equity view
Embattled tour operator Thomas Cook was under the cosh on Monday amid speculation that it's on the verge of collapse.
US oil and gas pipeline company Energy Transfer has agreed to buy smaller rival SemGroup Corp for $1.35bn.
Shareholders in British aerospace and defence company Cobham have backed a $5.0bn takeover by an American private equity firm.
Under-fire American drugs company Purdue Pharma has filed for bankruptcy as it looks to settle thousands of opioid-related lawsuits.
Eddie Stobart Logistics warned that it continues to expect full-year profits to be "significantly below" the board's expectations after a difficult first half and said it is considering raising new equity.
The European Commission has conditionally cleared E.ON's proposed acquisition of Innogy's distribution and consumer solutions business, as well as some of its electricity generation assets.
WeWork has delayed its stock market listing until the end of the year amid growing investor concerns over its corporate governance, valuation and the outlook for the business.
Sirius Minerals said it was pulling a $500m raising due to jittery bond markets and cutting the rate of development on the world's biggest potash project as the UK government also refused support.
The Competition and Markets Authority (CMA) will investigate national security implications of Cobham's £4bn takeover by American private equity firm Advent International.
Lloyd's of London reported a surge in interim profits, boosted by bumper investment gains.
KPMG UK plans to make redundant about a third of its 630 administrative assistants in a wave of cost-cutting.
Ryanair investors launched a significant revolt on Thursday, almost blocking a pay report that granted chief executive Michael O'Leary a bonus that could be worth as much as €99m (£88m).
High Street fashion chain Next said interim profits rose 2.7%, as strong online sales offset a fall in retail and the company maintained its outlook for the full year.
Footwear and sports apparel retailer JD Sports Fashion's acquisition of Footasylum was facing a fresh regulatory hurdle on Thursday, as the Competition and Markets Authority confirmed that it intended to refer its review to a phase two investigation.
UK insurance services firm Charles Taylor agreed to a £261m takeover on Thursday, representing a 34% premium to the group's Wednesday closing price.
Petrofac agreed to sell its remaining 51% interest in its operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco International for up to $276m.
French supermarket retailer Casino confirmed late on Thursday that it is in talks with German discounter Aldi about selling its discount chain Leader Price.
Beleaguered travel company Thomas Cook confirmed on Friday that it is looking for an additional £200m in funding to avoid going bust, as unions called on the government to intervene.
Asset manager Investec warned on interim profits as Brexit, trade wars and a company restructure were all forecast to hit earnings.
Rolls-Royce warned of further disruption to its airline customers as it accelerated its blade replacement programme for a number of faulty Trent 1000 engines fitted to Boeing 787 Dreamliner aircraft.
Economic news
Around a fifth of the UK's fresh food imports could be at risk as climate change threatens key producing regions and Brexit raises trade uncertainty.
UK energy regulator Ofgem will face a committee of MPs to answer questions over the blackout in August and its role in the matter.
Inflation has fallen to its lowest level for nearly three years, official data showed on Wednesday, weighed down by volatile computer game prices.
UK house prices grew by less than 1.0% in July, official data showed on Wednesday, the lowest annual growth rate since 2012.
The Bank of England stood pat on interest rates on Thursday, as widely expected, as it warned over the impact of slowing growth and Brexit uncertainty.
UK retail sales unexpectedly dipped in August, driven by a drop in online sales, according to data released by the Office for National Statistics on Thursday.
Sterling gave back some of the previous session's gains after Dublin poured cold water on recent speculation that an agreement on a Brexit deal between the European Union and Westminster might be withing grasp.
International events
The spokesman of the Saudi-led coalition in Yemen, Turki Al-Maliki, said Iranian weapons were used in the strikes against the Kingdom's oil infrastructure at the weekend.
Saudi Aramco has reportedly resumed vessel loading at one of its plants in Saudi Arabia hit by a drone attack over the weekend.
Apple's lawyers and Dublin are trying to overturn a landmark tax ruling against them in an EU appeals court.
Chinese industrial production fell to a 17-year low in August, according to figures released on Monday, while retail sales and fixed asset investment also weakened.
US industrial output bounded past forecasts during the previous month amid widespread gains by categories, but economists said the underlying trend continued to point lower.
Donald Trump has asked the US Secretary to the Treasury to increase sanctions against Iran, in the latest escalation of tensions between the two countries.
The Taliban on Wednesday warned teachers and students to avoid working with electoral staff in the run-up to the nation's Presidential vote or risk being killed.
America's central bank cut its main policy rate further and now several of its top officials believed that it would need to be lowered again before the year was out.
Israel's Benjamin Netanyahu and his rightwing coalition failed to secure the 61-seat majority they needed to secure power in the Middle Eastern nation after an election on Tuesday.
A global campaign formed by 450 activist groups and celebrities including Emma Thompson and Mark Ruffalo is urging the UN to back a total fracking ban to curb the effects of the climate crisis.
Thousands of demonstrations took place in many of the planet's largest cities on Friday in what could be the largest climate protest in history.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN