HSBC Holdings (HSBA) has reported a 33 per cent fall in pre-tax profit for 2019 to £10.2billion, below analysts’ expectations and those of its own chief executive. The bank said the drop was due to a ‘ goodwill impairment’ of £5.6billion.
The price of Brent Crude fell by 60 cents a barrel today as concerns over the coronavirus continued. The International Energy Agency said last week they expect the virus to cut oil demand by 435,000 barrels a day.
Mining company Glencore (GLEN) recorded its first annual loss in five years in 2019. The London-listed firm said low commodity prices, trade uncertainty, and a £2.15billion tax impairment caused it to fall to a £311million loss last year.
InterContinental Hotels Group (IHG) has reported a 12 per cent rise in pre-tax profits to $542million (£417million) for 2019, but revealed a raft of writedowns, including for its UK business.
Asda’s boss: Shoppers were ‘more mindful’ in their spending over Christmas. Asda’s like-for-like sales declined by 1.3% in the three months to December.
US investment firm Franklin Templeton to buy rival Legg Mason in $4.5bn deal that will create a trillion pound fund house.
BT Group (BT.A) to chase the Netflix generation by offering flexible TV packages that can give you dramas one month and football the next.
Asda hoping for a lift from Greggs tie-up after lagging behind arch rivals Tesco and Sainsbury’s over key Christmas period.
