EFG International posts record profit of $279 million
($1 = 0.7934 Swiss francs)
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The Sun
6 minutes ago
- The Sun
Marcus Rashford completes stunning Barcelona loan transfer as he finally seals Man Utd exit
MARCUS RASHFORD has officially joined Barcelona on a season-long loan from boyhood club Manchester United. The 27-year-old winger's Old Trafford future was deemed practically over when the club handed his No10 shirt to new signing Matheus Cunha. 4 Rashford has been looking for a new home after falling out with Ruben Amorim a month after the manager arrived from Sporting Lisbon. And the England star has finally secured his dream move to Barcelona, who now have an option to BUY the Red Devils academy graduate come the end of next season for a reported £26million. The move will be Rashford's second consecutive loan spell after a six-month stint with Aston Villa in the second half of last season. Barcelona are understood to be paying 100 per cent of Rashford's whopping £325,000-a-week wages - which he's unlikely to get should he permanently move to the Nou Camp in 2026. Taking Rashford on an initial temporary basis helps Barca as they continue to navigate a difficult financial situation, with the player also eager to secure a place in the England squad for the 2026 World Cup. The deal does not allow United to recall the forward and a permanent switch will see Rashford end his 20-year association with United. The Red Devils will save £15MILLION in wages over the next year, which could provide Amorim with vital funds to overhaul his squad. United have never publicly closed the door to Rashford being reintegrated, although it's believed he can never play under Amorim again. The local lad joined United at the age of seven and has scored 138 goals in 426 appearances since his breakthrough debut in 2015. Marcus Rashford gives the thumbs up as he arrives to seal loan move to Barcelona Joining Barcelona has been Rashford's No1 option since he declared in December that he was ready for a new challenge after being iced out by Amorim. He will be the first England international to wear Barcelona colours since Gary Lineker, who played there between for three years between 1986 and 1989. Rashford will also wear the historic No14 shirt at the Camp Nou outfit, previously worn by legends such as Johan Cruyff and Thierry Henry. Current Bristol City midfielder Marcus McGuane joined Barca's B Team in 2018, making one first-team friendly appearance after coming off from the bench with 13 minutes remaining in 2018. Asked by a Spanish influencer if he would like to play alongside Lamine Yamal a few months back, Rashford said: "Yes, for sure. Everyone wants to play with the best. Hopefully... we'll see." SunSport exclusively revealed that he arrived in sunny Spain on Sunday night after a nightmare private plane journey was derailed by none other than Manchester City supporting rock band Oasis. The forward completed a medical with the LaLiga champions on Monday, with the aim of being able to join their pre-season tour of Japan and South Korea on Thursday. A debut could even come as soon as Sunday morning against Vissel Kobe. It is thought Liverpool forward Luis Diaz was a priority target for Barca, but the Catalans' advances were rejected earlier in the window. 4 Hansi Flick's side also agreed personal terms with Nico Williams before the Spain international opted instead to stay at Athletic Club and sign a new contract until 2035. Rashford will still have two years left on his United deal when this proposed loan move ends. Villa turned down their £40m option to buy. But his career at Old Trafford has appeared to be over since Amorim claimed he would rather put his 63-year-old goalkeeper coach on the bench than the forward because of what he considers a lack of effort. He enjoyed his short-term loan at Villa, scoring four goals in 17 appearances for Unai Emery's side and often pipping United target Ollie Watkins to the starting line-up. It saw him get recalled to the England squad for Thomas Tuchel's first two games, but he missed out on a second call-up after his season was curtailed by a hamstring injury picked up in April. But after a summer of intense training in Marbella, Rashford - who has been training alone at Carrington away from the first-team squad - has now fully recovered and is ready for action. But ex-United star Teddy Sheringham weighed in on the "soul-destroying" Rashford debate before his second loan deal was confirmed. Sheringham told Sky Bet: "I find the whole episode very soul-destroying, compared to the way I was back in the day and how I strove to get the privilege to play for such a huge football club. "From my perspective, if you go from Manchester United to Barcelona, that's a step that he hasn't deserved." With one of the five "Bomb Squad" players sorted, Amorim is still trying to shift Jadon Sancho, Antony, Alejandro Garnacho and Tyrell Malacia. 4
The Independent
35 minutes ago
- The Independent
Iranian negotiator doesn't rule out exiting nuclear treaty if sanctions are reimposed
A top Iranian official warned Wednesday that European threats to reimpose sanctions could lead Iran to withdraw from an international pact that limits the spread of nuclear weapons, one of the last remaining safeguards against the Islamic Republic's nuclear program. Iranian Deputy Foreign Minister Kazem Gharibabadi discussed with reporters his country's recourse against further financial punishment ahead of a critical meeting Friday with Britain, France and Germany. The talks between Iran and some of the remaining members of the 2015 nuclear deal, which the U.S. withdrew from in President Donald Trump 's first term, are expected to take place in Istanbul. The three European countries have suggested triggering a so-called snapback provision in that accord that would reimpose sanctions on Iran if there is no progress on a deal to limit its nuclear program by August. The 2015 deal had eased economic penalties on Iran in exchange for restrictions and monitoring of its nuclear program, which Iran has insisted is peaceful. Gharibabadi, who has been part of the nuclear negotiation team, said that despite domestic pressure to withdraw from the separate, older Nuclear Non-Proliferation Treaty, especially in the aftermath of the recent Israeli and U.S. strikes on its nuclear sites, Iran has remained compliant with the 1970 treaty. 'But, I'm quite confident that if the snapback is triggered, Iran will not show more restraint in this regard,' Gharibabadi said. If Iran does exit the treaty, it will be just the second country to do so, after North Korea in 2003, whose withdrawal has never been formally accepted. The warning from Iran comes as the Trump administration is once again seeking to reach a deal with Tehran on its nuclear program. The two sides had held several rounds of talks before Israel staged a surprise attack in June. Gharibabadi and Iran's foreign minister, Abbas Araghchi, have remained optimistic that the triggering of sanctions and withdrawal from the treaty can be avoided with 'diplomacy and negotiation.' Gharibabadi said Friday's meeting is very important but that its success will depend on how the Europeans approach Iran this time around. 'We have always valued our meetings with the European countries. But there is an important issue: I think we have always told them that the policies of the European countries should be independent,' he said. 'They should not coordinate their positions with the Americans.' He added, 'If this is the case, why should we negotiate with the Europeans when we can negotiate with the Americans?' Iranian officials, including Gharibabadi, said they are open to proposals on how to prevent further sanctions and 'prevent a more complicated situation.'
The Independent
35 minutes ago
- The Independent
FTSE 100 hits new high amid US trade talk optimism
European stocks climbed on Wednesday, boosted by hopes of further progress in trade talks after the US struck a deal with Japan. The FTSE 100 index closed up 37.68 points, 0.4%, at 9,061.49, a record closing peak. It had earlier hit an all-time high of 9,080.09. The FTSE 250 closed up 79.23 points, 0.4%, at 22,013.49 and the AIM All-Share closed up 3.85 points, 0.5%, at 773.99. In European equities on Wednesday, the Cac 40 in Paris advanced 1.5%, while the Dax 40 in Frankfurt gained 0.8%. In New York, the Dow Jones Industrial Average was up 0.4%, the S&P 500 traded 0.3% higher and the Nasdaq Composite firmed 0.2%. Late on Tuesday, President Donald Trump said the US had agreed a 'massive' trade deal with Japan that would include a 15% tariff on its exports. He had previously threatened Japan, a major US trading partner, with a tariff of 25% beginning on August 1 if a deal was not reached. 'We just completed a massive Deal with Japan, perhaps the largest Deal ever made,' Mr Trump announced on social media. Under the deal, 'Japan will invest, at my direction, USD550 Billion Dollars into the US, which will receive 90% of the Profits', he added. Japanese Prime Minister Shigeru Ishiba was more circumspect, saying he needed to examine the deal before commenting. 'As for what to make of the outcome of the negotiations, I am not able to discuss it until after we carefully examine the details of the negotiations and the agreement,' he told reporters in Tokyo after Mr Trump's announcement in Washington. The deal comes after Mr Ishiba faced a bruising weekend election that left his coalition without a majority in the upper house. 'The trade agreement is undoubtedly good news for Japan,' said Kathleen Brooks at XTB. 'The auto component is by far the biggest coup for Japan, as that makes up the bulk of exports to the US. 'By lowering the auto tariff rate to 15% – auto tariffs were a flat 25% rate before the exemption for Japan – it is giving hope that those countries who have yet to agree tariff rates with the US can seal good deals if they pledge investment into the US.' The trade pact sent equities soaring in Asia with the Nikkei 225 closing up 3.5% on Wednesday and the Hang Seng in Hong Kong gaining 1.6%. Car makers such as Toyota climbed 14%, and Honda jumped 11%. Mitsubishi rose a more modest 3.6%. European car makers rose, with BMW, Mercedes-Benz Group and Volkswagen up 4.4%, 5.9% and 5.3% respectively, in Frankfurt. Renault was up 2.6% in Paris, and Citroen and Fiat owner Stellantis was up 8.9% in Milan. In London, luxury car maker Aston Martin Lagonda rose 8.1%. Deutsche Bank's Jim Reid said the Japan deal has 'significantly raised hopes that the EU might also be able to reach a trade deal, as they've been threatened with 30% tariffs on August 1'. Attention in the US will also be on tech earnings, with results due from Tesla and Alphabet after the closing bell in New York. The pound rose to 1.3571 dollars late on Wednesday afternoon in London, compared with 1.3508 at the equities close on Tuesday. The euro traded at 1.1737 dollars, slightly up against 1.1735. Against the yen, the dollar was trading lower at 146.33 compared with 146.49. On the FTSE 100, Informa rose 5.3%. It raised its full-year outlook and added to its share buyback after reporting 20% growth in half-year sales and adjusted profit. The London-based international events, digital services and academic publishing business increased full-year underlying revenue growth guidance to at least 6% from at least 5%, including 8% plus in Live B2B Events. The dividend was increased by 9.4% to 7.0 pence from 6.4p. In addition, Informa said it would buy back a further £150 million of shares through the second half of 2025, taking the total commitment to £350 million in 2025. On the FTSE 250, Breedon tumbled 7.3% as it forecast that full-year profit will be at the low end of market expectations. The Leicestershire-based building materials company said that given a 'difficult' first half and macroeconomic headwinds, 'we now expect our result for the full year will be at the low end of the current range of market expectations'. Breedon put the range for 2025 earnings before interest, tax, depreciation and amortisation between £291.4 million to £311.5 million, growth of at least 19% from £245.8 million in 2024. Halfords rose 2.9% as Panmure Liberum upgraded it to 'buy' from 'hold' with a 200p share price target. The broker noted 'evidence of tangible green shoots' and said recent trading has pointed to a fundamental improvement rather than a one-off performance. 'However, given previous false dawns, investors may require further evidence before declaring a new era,' Panmure Liberum added. The yield on the US 10-year Treasury was quoted at 4.38%, up from 4.34%. The yield on the US 30-year Treasury was quoted at 4.94%, widened from 4.91%. The biggest risers on the FTSE 100 were Informa, up 40.8p, at 866.8p, JD Sports Fashion, up 3.9p at 89.7p, AstraZeneca, up 322.0p at 10,674.0p, Ashtead, up 122.0p at 4,857.0p and Croda International, up 62.0p at 2,879.0p. The biggest fallers were Centrica, down 5.3p at 158.7p, SSE, down 58.0p at 1,912.0p, United Utilities, down 28.5p at 1,138.5p, Severn Trent, down 66.0p at 2,717.0p and National Grid, down 22.0p at 1,062.5p. Brent oil was quoted lower at 68.24 dollars a barrel in London on Wednesday, from 68.30 dollars late on Tuesday. Gold eased to 3,412.38 dollars an ounce against 3,426.29 dollars.
