Marks & Spencer Group (MKS) break-up chatter lingers as it pins hopes on Ocado Group (OCDO) deal. Retail giant focuses on food as problems at its clothing arm throw turnaround off course
HSBC Holdings (HSBA) suffered the biggest plunge in investment banking fees in the City last year following a turbulent 12 months for Europe’s biggest lender. The bank, which is finalising plans to assemble a new mergers and acquisitions team focused on mid-market transactions, saw its deal advisory fees drop by nearly half last year, according to data commissioned by The Telegraph from data provider Refinitiv. HSBC received income of more than $212m (£162m) for work on M&A deals last year, down from $377m the previous year. The nosedive represented the biggest decline for a major investment bank across the City, reducing HSBC’s share of the overall UK total from 6% in 2018 to just under 4% last year.
The eurozone has suffered the weakest post-crisis recovery after a lost decade for swathes of the ailing region, with analysts predicting the economic malaise will extend into the 2020s. The currency bloc has lagged every other major developed economy since the global recovery started in 2009 as a chasm between the performance of northern and southern eurozone countries emerged. Real GDP rose by 15% over the period, nearly half that of the US and behind other developed economies, including the UK and even sluggish Japan. The output of southern eurozone economies – Greece, Italy, Portugal and Spain – collectively inched up just 4%pc as tensions simmer with their stronger northern counterparts.
Questor: the outlook for Barratt Developments (BDEV) is brighter but the shares still look too cheap. Questor share tip: the Government will continue to support housebuilders while homes are more affordable than in the past
