Wednesday 16 May 2018

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

Jobs data points to August hike in interest rates

The Guardian says the chances of an August hike in interest rates have increased after official data showed strong jobs growth in the first three months of this year. The Office for National Statistics said there were 32.34m people in work in the first quarter of the year, an increase of 197,000 on the previous quarter and up by 396,000 on the first three months of 2017.

'Shysters' at Carillion 'stuffed their mouths with gold'

Two select committees say no-one stopped Carillion directors "stuffing their mouths with gold" for years before the firm went into liquidation in January with debts of up to £7bn, including £2.6bn in pension liabilities. Frank Field, who chairs the Work and Pensions Committee, said: "British industry is too important to be left in the hands of the likes of the shysters at the top of Carillion."

Uber reforms its sexual harassment procedures

Uber is overhauling the way it deals with claims of sexual harassment and assault in the US as it bids to earn "back the respect of customers". The firm said it will stop forcing women who say they were sexually assaulted by drivers to resolve claims outside of court, ending a practice that critics said silenced victims. New chief executive Dara Khosrowshahi wants to restore the firm's battered reputation.

Arcadi profits fall as Sir Philip loses his crown

Profits at Arcadia fell by more than £90m last year, reports The Times. Operating profits at Sir Philip Green’s fashion empire — which owns Topshop, Miss Selfridge, Dorothy Perkins and Burton — fell from £215.2m to £124.1m, on total sales that dropped 5.6% to just over £1.9bn. The collapse of BHS has robbed Sir Philip of his previous reputation as "king of the high street".

Rare blue diamond sells for $6.7m at Sotheby's

An historic blue diamond that has spent the past 300 years in Europe's royal houses has been sold at auction in Geneva for $6.7m (£5m). The 6.1 carat Farnese Blue was a wedding present for Elizabeth Farnese, daughter of the Duke of Parma, when she married Philip V of Spain in 1715. It sold after just four minutes of bidding at Sotheby's, sailing past the auction house's estimate of $3.5m-$5m.

Quote of the day… Middle-aged men get 'menopausal' UK economy

"I once got an economist to explain the origins of the word 'climacteric'. As soon as he started talking to all these middle-aged men - about [how] it means you’re past your peak and you’re no longer so potent - they all said: 'We understand.'" Deputy governor of the Bank of England, Ben Broadbent, on the "menopausal" UK economy.

THE NUMBERS... AT 0732 GMT

FTSE 100: up +0.16 to 7,722.98
Dow Jones: down -0.78 to 24,706.41
Dax: down -0.06 to 12,970.04
Cac 40: up +0.23 to 5,553.16
Nikkei: down -0.44 to 22,717.23
Hang Seng: down -0.19 to 31,093.82
US dollar: buys €0.8443 and £0.7401
Sterling: buys $1.3512 and €1.1408
Oil: $78.28 down -0.19