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Key market data as trading session comes to close
As today’s trading session draws to a close, here’s a look at today’s key market data.
Click through the buttons below to view the data.
FTSE ends week at 7,756.87
The FTSE 100 finished the weak almost perfectly flat, closing today at 7756.87.
The index of London blue-chips was close to 7800 for much of the day, but fell late on amid comments from US central bankers about the Federal Reserve’s interest rate strategy and an apparent step back in the country’s debt ceiling talks.
BT was the biggest riser while JD Sports was the biggest faller.
Tesco chair to step down
Tesco chair John Allan will step down after the company’s AGM next month, the supermarket giant revealed today, after he was accused of inappropriate behaviour last week.
He had been head of Tesco’s board since 2015.
Read more here
Morgan Stanley boss to step down within next year
Morgan Stanley CEO James Gorman will leave the post within the next year, he revealed today.
At the banking giant’s annual general meeting, Gorman said: “It is the board’s and my expectation that it will occur at some point in the next 12 months”, though he added that this could change in the event of “a major change in the external environment”.
He will initially become executive chairman when his time as CEO is over.
Two thirds of workers think AI will take over more jobs than it creates
Nearly two in three workers in the UK think the emergence of artificial intelligence (AI) will take away more jobs that it will create, but many fewer are worried about their own prospects, a new study has suggested.
In a poll taken earlier this month before BT said it might lose around 10,000 workers to AI by the end of the decade, 62% of working Britons said that robotics and AI would take over more jobs than they create.
Read more here
Markets snapshot at 1:00pm
The FTSE 100 climbed higher in the late morning and early afternoon, with the Scottish Mortgage Investment Trust the biggest riser of the day.
Check out all of the latest markets movements with our data hub
Princess of Wales’s parents’ party firm bought after falling into administration
The party supplier business founded by the Princess of Wales’s parents has been sold in a rescue deal after falling into administration.
Party Pieces Holdings, which was founded by Carole and Michael Middleton in 1987, has been sold to entrepreneur James Sinclair in a pre-pack administration deal.
The Middletons hired insolvency specialists from Interpath Advisory earlier on Thursday.
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Flexible working reforms move closer to becoming law
Peers have supported moves to give employees the right to request flexible working from their first day in a job.
The Employment Relations (Flexible Working) Bill is a “very welcome starting point and not an end point” for reforming working conditions, according to Labour.
The measures are supported by the Government and received an unopposed second reading in the House of Lords.
Under the current rules, a person who has 26 weeks of continuous service with their employer can request a change to their working hours, times or location.
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If we don’t build more and secure TfL funding, London will fall behind
Earlier this month, the World Health Organisation declared the Covid-19 public health emergency over.
But while the darkest days of the pandemic may be officially behind us, its enduring impact means that our city faces a once-in-a-generation inflection point if it’s to remain successful and meet the changing needs of Londoners.
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Major survey busts myth that scrapping tourist tax would cost millions
A major survey of tourists carried out before the Treasury decided to scrap VAT-free shopping found that the scheme was hugely popular with foreign visitors and that much of the money they saved was spent in the UK.
The findings from the confidential research conducted for HMRC call into question the Government’s argument that scrapping the “tourist tax” would cost billions and make little difference to the number of people holidaying in London and the UK.
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