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3 December 2018
UK & EU signed off on the withdrawal bill but Parliamentary approval appears a distant prospect increasing the risk of a hard exit on 29th March 2019.
Jerome Powell said US interest rates remain “just below the range of estimates that would be neutral for the economy”. The comment suggested the pace of rate hikes in 2019 would abate.
Thomas Cook had a second profit warning citing an £88m profit hit in its tour business. To end September 2018 it lost £163m with debt up sharply at £389m.
Royal Mail Group reported net profit of £5m down from £168m in 2017 after a 1.5% drop in margin.
CMA is to launch a full inquiry into the pricing of funeral services in the UK which could include recommendations to introduce a regulatory regime.
Faroe Petroleum received a 152p per share takeover offer from majority owner DNO. The Faroe board advised shareholders to reject the offer.
Kier Group launched a £264m rights issue with 33 new shares for each 50 at 409p. The new cash will reduce Kier debt quickly given reducing banking support for UK construction and outsourcing companies.
Brookfield Property walked away from making a formal offer for Intu despite claiming it found nothing untoward during due diligence.