Terry Smith: ‘More than usually challenging’ 2023 hits stockpicker’s flagship fund INVESTMENT LEGENDARY City stockpicker Terry Smith’s flagship equity fund underperformed global stock markets last year but analysts said punters wouldn’t be too ‘miffed.’
FTSE 100 close: London ends week deep in the red as Diageo shares crash after GDP flat Markets No firms on the FTSE 100 rose by more than one per cent after the open on a sluggish morning with few corporate results, as Diageo' share price plummeted by more than nine per cent.
Diageo shares crash 15 per cent after it lowers forecasts amid Caribbean storms Retail Diageo said it expects a slowdown in net sales growth in the first half of 2024, thanks to a performance downturn in Latin America and the Caribbean (LAC).
Moving markets today: Fed holds, Tokyo stimulus, and all eyes on Apple November 2, 2023 What’s moving markets today? Wall Street closed higher on Wednesday, led by a 1.6% gain in Nasdaq. This followed the decision by the U.S. Federal Reserve to keep interest rates unchanged at 5.25%-5.50%. The Bank of England is also set to keep its interest rates on hold at a 15-year high of 5.25% on Thursday. [...]
Croda: FTSE chemicals giant’s share price drops after outlook slashed October 9, 2023 British speciality chemicals group Croda International cut its 2023 profit outlook on Monday, due to destocking and weak demand, particularly in its beauty care business in North America. The FTSE 100 company said it now expects 2023 group adjusted profit before tax of £300m to £320m pounds. It had forecast 370 million-400 million pounds previously. Following its profit outlook [...]
Lendinvest hit by data breach with customer information exposed August 25, 2023 Lendinvest has said it was hit by a data breach yesterday, with certain customer information made available to outside parties. The London-listed property fintech said an investigation into the incident is ongoing and can not yet confirm the precise number of individuals impacted or how long the information was in the public realm for. It [...]
Estee Lauder hit by cyberattack affecting some business operations July 19, 2023 Cosmetics maker Estee Lauder said a hacker had obtained some data from its systems, with the cyber incident causing, and expected to further cause, disruption to parts of the company’s business operations. The MAC Cosmetics owner was working to restore the affected systems and had implemented measures to secure its operations, including taking down some [...]
The Christmas Day Quiz: City A.M. tests out your grey matter December 24, 2022 It’s the Christmas Quiz you’ve been waiting for! Each year City A.M. publishes Deloitte’s economics team’s festive brainteasers, produced as part of their regular Monday briefing. Grab a pen – the answers are at the bottom, and come packed with plenty of extra details… 1. The nineteenth century Scottish historian and philosopher Thomas Carlyle dubbed [...]
The Christmas Quiz: Twelve questions to test your grey matter December 14, 2022 Roll up, roll up, for the City A.M. quiz in association with Deloitte's economics team. Twelve questions, all (just about) related to business and economics
Estée Lauder snaps up Tom Ford in £2.4bn luxury swoop November 16, 2022 Estée Lauder announced that it would be buying designer fashion house Tom Ford in a deal worth $2.8bn (£2.4bn). The deal, which was announced late last night, is the luxury cosmetics biggest acquisition to date. The French firm said the tie-up would “unlock new opportunities” for both sides. Under the agreement, Tom Ford, Founder and [...]