FTSE 100 was red in morning trades as latest retail sales numbers showed the belt-tightening predicted due to the squeeze on household incomes has started in earnest. London’s blue-chip index was down 31 at 7,596.
Retail sales plunged far more than expected last month as consumers tightened their belts in the face of the squeeze in living costs. The ONS said the decline was largely driven by a drop in demand for online purchases.
CNN’s brand-new streaming service, CNN+, is shutting down only a month after launch. US$300million was invested in the start-up, but it only got 150,000 subscribers.
Britain's financial watchdog has warned the new breed of challenger and online banks that they are too slack in vetting customers for possible criminal activity. The FCA did not name any bank specifically but said there cannot be a trade-off between quick and easy account opening and robust financial crime controls.
Retailer the Co-op is set to remove use-by dates from its yoghurts and replace them with best-before dates in an effort to cut waste. Research from charity Wrap shows half the pots are thrown away in unopened packs, mainly because they aren't used in time.
One Media IP’s full year revenues rose 10% and earnings by 11% as its catalogue of old hits again proved their worth . The gain was driven by organic growth and active management of its portfolio of rights, which now include some of Take That's back catalogue.
Directa Plus has signed a non-binding Letter of Intent (LOI) with a leading worldwide supplier of vehicle interiors to develop new products using its graphene plus technology. The products will be based on its G+ enhanced fabrics, the company told investors.
