Friday 27 April 2018

Company news, markets and financial talking points, available from 8am Monday to Friday

Mortgage approvals collapse as Britain jitters

Mortgage approvals sank 10% in March as "jittery households" played it safe, says The Times. Gross mortgage lending was 2.3% down on last year at £20.5bn. The declines come in the aftermath of last November’s interest rate rise, amid expectations of another increase and a cooling housing market. Hansen Lu, at Capital Economics, said: "There are few reasons to expect a meaningful recovery in lending this year."

Fulham FC billionaire bids to buy Wembley Stadium

The owner of Fulham Football Club, Shahid Khan, has made a £900m offer to buy Wembley Stadium from the Football Association. The billionaire, who also owns the Jacksonville Jaguars American football team, first mentioned the proposal when he met FA chief executive, Martin Glenn, at the Superbowl in February last year. "We would strive to be the best possible steward for a venue that is iconic," says Khan.

Rampant Amazon reports 43% rise in revenue

Amazon has posted a 43% rise in revenues for the first quarter of 2018. The web retail giant said sales rose to $51bn (£36.6bn) in the three months to March, fuelled by online shopping in the United States. Profit more than doubled. In reaction to the news, shares jumped by 7.4% to a record $1,630.09 in after-hours trading.

Poundworld to close stores under CVA

Poundworld is aiming to close about 100 of its 355 stores, putting up to 1,500 jobs at risk. The discount retail chain, which has been hit by soaring overheads, the weaker pound and falling consumer confidence, is considering the move under the Company Voluntary Arrangement insolvency. This increasingly popular process allows retailers to offload underperforming stores and avoid administration.

Lionel Messi granted right to trademark name

A European court has ruled that Lionel Messi can trademark his own name, following the Barcelona star's seven-year fight to be able to use his name on sports goods. Messi’s original application was challenged by the Spanish cycling brand, Massi, which argued that the two names were too similar. Argentine ace Messi has reportedly overtaken Cristiano Ronaldo as the highest earner in the game, with an income of €126m (£108m).

Quote of the day… TSB on its knees

"We are on our knees. We will get up and come back fighting." TSB boss Paul Pester, speaking to BBC Radio 5 Live.

THE NUMBERS... AT 0645 GMT

FTSE 100: up +0.57 to 7421.43
Dow Jones: up +0.99 to 24322.34
Dax: up +0.63 to 12500.47
Cac 40: up +0.74 to 5453.58
Nikkei: up +0.54 to 22441.11
Hang Seng: up +0.43 to 30135.78
US dollar: buys €0.8262 and £0.7183
Sterling: buys $1.3924 and €1.502
Oil: $74.50 down -0.32