Thursday 7 June 2018

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

Accountants and lawyers cash in on Carillion collapse

The National Audit Office says accountants and lawyers will earn £70m managing the fallout from the collapse of Carillion. However, taxpayers will have to cover a bill of more than £150m. PricewaterhouseCoopers are among those set to cash in. "They make a killing in fees advising struggling companies how to turn them round and then they pocket millions tidying up when that advice fails," said Rachel Reeves MP.

Poundworld on the brink as high street wobbles

Poundworld is facing administration as it struggles to find buyer. The budget chain is the latest retailer to struggle during a torrid time for stores. Its owner, TPG Capital, does not intend to inject any more money into the group, which has 355 stores. It is thought to be trying to find backers for a rescue bid, but is running out of time.

Paul Dacre to step down as Daily Mail editor

Daily Mail editor Paul Dacre is to step down after 26 years. The controversial Dacre, who will edit his last edition in November, will remain at the Daily Mail's publisher, as chairman and editor-in-chief of its newspaper arm Associated Newspapers. He will turn 70 in November and says he is announcing the move now "in order to facilitate the handover to a new team".

Fastest-selling £1m homes are outside London

The fastest-selling £1m homes are outside London, reports the BBC this morning. Cambridge has the fastest selling £1m-plus homes in Britain, taking 45 days to secure a buyer, and the other areas in the top five were Edinburgh, Harpenden, Bristol and St Albans. A grand total of 16,119 property sales for £1m or more were completed in 2017, up 5.4%.

World Cup and royal wedding boost WH Smith

The royal wedding and the sale of World Cup stickers have boosted WH Smith, notes the Daily Telegraph. Boss Stephen Clarke said a strong Easter weekend and Mother’s Day helped to offset the impact of the ‘Beast from the East’ in February and March. He explained that royal wedding publications "did very well" and there was a "high demand" for Panini World Cup stickers.

Quote of the day… Bring forward diesel ban says Branson

"I honestly think that we've got to bring everything forward because there are concerns that we could actually have sea levels rising by over 100ft if we lose a big chunk of the Antarctic." Sir Richard Branson says plans to ban the sale of new petrol and diesel vehicles from 2040 need to be accelerated.

THE NUMBERS... AT 0710 GMT

FTSE 100: up +0.33 to 7,712.37
Dow Jones: up +1.40 to 25,146.39
Dax: up +0.34 to 12,830.07
Cac 40: down -0.06 to 5,457.56
Nikkei: up +0.91 to 22,832.45
Hang Seng: up +0.54 to 31,427.82
US dollar: buys €0.8473 and £0.7443
Sterling: buys $1.3436 and €1.1385
Oil: $75.95 up +0.78