Morning Refresher: What You Need to Know to Start Your Day
Good morning from the Evening Standard city desk.
Wilko’s demise caused a stir yesterday after the administration announced another 1,332 jobs would be cut and 52 more stores would close next week. Budget retailer B&M said it had struck a £13 million deal to save 51 Wilko stores but would not retain the branding as the name looks set to disappear from Britain’s high streets for good.
Across the pond, it turns out that it won’t cost you a fortune to take a stake in Arm as it approaches its New York IPO. The British chipmaker said it will sell its shares at $47 to $51 to raise just under $5 billion, which would value the company at about $52 billion, well below the Some analysts forecast it to be as high as $70 billion.
Here’s a roundup of our other top headlines from yesterday:
- Blue light maker STV has seen profits fall by a third as advertising revenue falls
- The two-year copper switch-off begins as BT stops selling contracts for services on the old network
- Qantas boss quits after airline sells thousands of tickets on non-existent flights
- Britain’s services sector is shrinking for the first time since January as demand weakens
- Equipment rental giant Ashtead cuts its forecasts for the UK as the market there becomes “weaker”. But the US is contributing to a record quarter
- British newspapers are bracing for a multi-million pound loss as social media giant Meta announced it would end its news content deals with publishers across Europe.
And… a massive 30,000 square foot ‘Pocket Planet’ attraction is opening on Oxford Street in a former New Look store
This morning we expect results from cybersecurity firm Darktrace, investment manager Ashmore and property firm Barratt Developments.
https://www.standard.co.uk/business/ftse-100-live-6-september-darktrace-barratt-developments-results-bluechip-shares-seen-higher-pound-dollar-interest-rate-inflation-mortgage-b1105119.html FTSE 100 Live September 6: Darktrace and Barratt Developments results, blue chip shares rise