Whitbread, the owner of Premier Inn, reported a first-half drop in pre-tax profit and UK accommodation like-for-like sales amid “challenging” market conditions in the UK as business and leisure confidence weakened.
Energy suppliers could face independent audits of their financial health and customer service standards under new regulatory proposals to address the slew of smaller electricity and gas companies that have gone bust in recent years.
The US government has given Chevron and four oil service providers permission to keep working in Venezuela for another three months, extending their exemption from oil sanctions that have hit the rest of the industry in the South American country to a full year.
Germany’s central bank warned the country’s economy may have shrunk for its second consecutive three-month period, which would mean the eurozone’s biggest economy has entered its first recession in six years.
The pound held its recent gains on Monday as traders waited to find out whether Boris Johnson would be granted another vote on his Brexit deal, after a Commons defeat at the weekend left him scrambling to meet his commitment that the UK would leave the EU by October 31.
ESR Cayman, an Asia-focused logistics company backed by Warburg Pincus, is looking to raise as much as $1.45bn in a revived Hong Kong initial public offering, in the latest example of a company opting to brave the political unrest that is rocking the Asia finance hub.
Global stocks were in the red as data showed China’s economy grew at its slowest pace in almost three decades and Mario Draghi said there were “mild signs” of overvaluation in financial and property markets within the euro zone.
JPMorgan Chase chief executive Jamie Dimon has said he would “do anything” to avoid buying “irrational” negative interest rate bonds, as concerns mount about the world’s $17tn pile of negative rate debt.
Schlumberger took a $12.7bn impairment, mostly related to its 2010 takeover of drilling equipment maker Smith International, driving the world’s biggest oilfields services group to a reported net loss in a third quarter characterised by increased market uncertainty.