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The Independent
2 hours ago
- Business
- The Independent
FTSE 100 climbs as earnings cascade brings cheer
The FTSE 100 made strong progress on Tuesday, boosted by results from AstraZeneca and Barclays, but it was a gloomy day for investors in Novo Nordisk. Russ Mould, of AJ Bell, said: 'It's a busy week for corporate earnings in the UK and US, and investors have plenty of news to digest. The latest set of UK results was generally well-received.' The FTSE 100 index closed up 54.88 points, 0.6%, at 9,136.32. The index had earlier traded as high as 9,163.24. The FTSE 250 closed 158.73 points lower, 0.7%, at 21,793.07, and the AIM All-Share closed down 7.27 points, 0.9%, at 765.75. In London, investors weighed a barrage of earnings with shares of AstraZeneca, Barclays, Games Workshop and Entain moving higher, although Croda International struggled. Games Workshop led the way, up 5.4%, as it said pre-tax profit jumped 29% to £262.8 million in the financial year that ended June 1 from £203 million a year ago. The Nottingham, England-based fantasy game figurine maker and retailer said revenue rose 17% to £617.5 million from £525.7 million. Reflecting the strong earnings, the total dividend was £5.20, up 24% from £4.20 the year before. AstraZeneca, the largest FTSE 100 constituent, rose 3.4%. The Cambridge, England-based pharmaceuticals company said pre-tax profit jumped 30% to 3.13 billion dollars in the second quarter of 2025 from 2.4 billion dollars a year prior, or by 34% at constant currency. Revenue rose 12% to 14.46 billion dollars in the quarter from 12.94 billion dollars a year ago, or by 11% at constant currency, ahead of Visible Alpha's consensus of 14.31 billion dollars. Sales were driven by double-digit growth in Oncology and BioPharmaceuticals, with increases across all major geographic regions. Entain climbed 0.8% as it raised guidance at its BetMGM joint venture, while Barclays advanced 2.5% after well-received results and despite a lack of a guidance hike. Bank of America said Barclays printed a 'good' set of results, with underlying profit around 11% above consensus, driven primarily by higher income (particularly non-interest income) and lower impairments. But Croda International was down 10%. The speciality chemicals maker posted improved revenue for the first half, though impairments limited its bottom line. Croda's pre-tax profit in the first half of 2025 fell 19% to £85.5 million from £106.1 million, despite revenue improving 4.9% to £855.8 million from £815.9 million. Adjusted pre-tax profit rose 8.4%, however, to £138 million from £127.3 million. Revenue fell slightly short of the company-compiled consensus of £857 million. It beat on profit, however, as the adjusted pre-tax profit consensus stood at £136.6 million. The upbeat mood spread to Europe. The CAC 40 in Paris rose 0.7%, while the DAX 40 in Frankfurt advanced 1%. However, Denmark's Novo Nordisk plunged 23% as it lowered full-year sales and profit guidance, citing weaker-than-expected uptake of key weight-loss and diabetes treatments in the US. Novo Nordisk lowered its 2025 sales growth guidance to between 8% and 14%, down from 13% to 21%. It now expects operating profit growth of 10% to 16%, reduced from a previous range of 16% to 24%. The company blamed slower-than-expected Wegovy uptake in the US obesity market, compounded by ongoing sales of compounded GLP-1s, a more competitive landscape for Ozempic in the US, and lower-than-expected Wegovy penetration in select international markets. Analysts at Jefferies said the 2025 outlook cut suggests high single-digit percentage underlying profit forecast downgrades. In New York on Tuesday, the Dow Jones Industrial Average was down 0.3%, the S&P 500 was 0.1% lower, as was the Nasdaq Composite. A report from the Conference Board showed a slight pickup in consumer confidence, albeit from low levels, while another release showed a larger-than-expected drop in job openings. On Wednesday, the Federal Reserve is widely expected to leave interest rates unchanged. According to the CME FedWatch Tool, it is near-certain that the Fed will maintain rates at the 4.25%-4.5% range this week. The Fed held in each of the first four meetings this year. Its last cut was in December, a 25 basis points trim to the federal funds rate range. A fifth successive hold is in the offing during the final meeting before a summer break. A 'wait and see' approach will likely be the message from chairman Jerome Powell at the subsequent press conference, analysts at Morgan Stanley predict. 'We think chair Powell will remain balanced, acknowledging both upside risks to inflation and the projections for rate cuts later this year,' Morgan Stanley analysts said. Attention will focus on any dissent in the ranks of the Federal Open Market Committee, where Governors Michelle Bowman and Christopher Waller may back a rate cut. Meanwhile, Chinese and US delegations met for their second day of trade negotiations in Stockholm, with both sides said to be aiming to extend a truce due to end in two weeks' time. Neither side has so far made public any information about what has gone on in the talks, which started on Monday. Joshua Mahony at Rostro said: 'There is an expectation that an extension to the tariff deadline with China will open a pathway for Xi Jinping and Donald Trump to meet in person, heightening hopes for an impending trade deal between the world's two largest economies.' The pound eased to 1.3337 dollars late on Tuesday afternoon in London, compared to 1.3403 dollars at the equities close on Monday. The euro traded at 1.1537 dollars, lower against 1.1620 dollars. Against the yen, the dollar was trading slightly lower at 148.38 yen compared to 148.45 yen. The yield on the US 10-year Treasury was at 4.35%, trimmed from 4.42%. The yield on the US 30-year Treasury was at 4.88% narrowed from 4.96%. On Wall Street, Merck was another drugs maker in the news with shares down 4.8% as it announced plans to save 3 billion dollars annually by the end of 2027, and tightened full-year guidance, as second quarter sales fell short of expectations. The Rahway, New Jersey-based pharmaceutical company said GAAP net income fell 19% to 4.43 billion dollars in the second quarter of 2025 from 5.46 billion dollars a year prior. Sales decreased 1.9% to 15.81 billion dollars from 16.11 billion dollars a year ago, missing LSEG consensus of 15.89 billion dollars. Sales of human papillomavirus drug, Gardasil, slumped 55% to 1.13 billion dollars due to lower demand in China. Brent oil was quoted higher at 70.74 dollars a barrel in London on Tuesday, up from 69.65 dollars late on Monday. Gold rose to 3,327.45 dollars an ounce against 3,314.26 dollars. The biggest risers on the FTSE 100 were Games Workshop, up 830p at 16,090p; AstraZeneca, up 368p at 11,158p; Endeavour Mining, up 66p at 2,332p; Barclays, up 10p at 371.2p; and Rolls-Royce, up 24.6p at 1,006p. The biggest fallers on the FTSE 100 were Croda International, down 301p at 2,598p; Rentokil Initial, down 12.9p at 348.1p; Glencore, down 10.8p at 305.9p; Unite Group, down 21.5p at 764.5p; and Whitbread, down 86p at 3,108p. Wednesday's local corporate calendar has half-year results from defence manufacturer BAE Systems, Asia-focused lender HSBC, pharmaceuticals firm GSK, miners Rio Tinto and Glencore and housebuilder Taylor Wimpey. The global economic calendar on Wednesday sees interest rate decisions in the US and Canada, and US economic growth figures.
Elle
5 days ago
- Entertainment
- Elle
The Espadrille Sneakers Fashion Insiders Are Wearing This Summer
With summer in full swing, it's likely your closet needs a few new pieces, including shoes. In which case, let me introduce you to espadrille sneakers. Yes, there are espadrille flats and wedges, which are always a classic summer staple. That said, they're not always the best choice for the moment—whether that be a relaxing walk or a fun getaway. Lucky for you, there's an easy alternative. No doubt, we need a little bit of everything to expand our wardrobes, from day-to-day pieces to options for playful occasions. I found the best espadrille sneakers using my expertise in the market, as well as factors including comfort, design, and, of course, style. Espadrille sneakers are a fun, summery shoe that'll give your wardrobe a nice seasonal update. Below, find 15 of our favorite takes on the espadrille sneaker. If you're fatigued by your old stash of Adidas sneakers, it's time to shop this fun collab that mixes jute with beaded details. I adore platform sneakers, and this affordable pair from Keds is so chic. The multicolored jute rope will blend in seamlessly with all of your summer ensembles. Speaking of mixing materials, denim shoes are having quite a moment. Grab Chloé's jute-trimmed version to go with all of your summer dresses. Here you'll find texture on top of texture in this unique take on the espadrille sneaker trend. A little logo love never hurts, especially when it comes courtesy of Celine's iconic triomphe symbol. Lean into the joys of the season with nautical stripes paired next to a jute-trimmed sole. Classic lovers, count on Tretorn's timeless silhouettes to go perfectly with your favorite jeans or breezy linen pants. Step into your coastal girl era with this monochromatic take on the craft-inspired sneaker. For added height, step into this stacked heel option by England-based brand Penelope Chilvers. With a mix of creamy neutrals and jumbo laces, this is the sweet sneaker to add to your collection of playful kicks. With perfectly distressed details Maison Margiela makes the espadrille sneaker look cooler than ever. JW Anderson brings the moody vibes with a deep taupe option that easily mixes and matches with any hue in your closet. If you love the look of sleek sneakers that gently hug your feet, Rag & Bone's low-profile design is what you need. With thick laces and a summery jute trim, this is the sneaker that deserves a spot in your luggage this summer. Amazon always has a wonderful selection of footwear—often at a reasonable price. This pair of platformed pink Superga sneakers are fantastic for all your spring outings. Every product featured on is independently researched, tested, or editor-approved. We only recommend products that we stand behind, and the merchandise featured on our site is always driven by editorial and product testing standards, not by affiliate deals or advertising relationships. Any content created in partnership with advertisers is marked as such.
Yomiuri Shimbun
6 days ago
- Sport
- Yomiuri Shimbun
Sumo Scene / Nagoya Tourney Strides into Future in Striking New Venue
The venues for grand sumo tournaments rarely change. For four decades since opening in 1985, Ryogoku Kokugikan arena in Tokyo, which also serves as the Japan Sumo Association's headquarters, has been the familiar home for the capital's three annual tournaments. But right now as July temperatures soar outside, the heated matches of the Nagoya tournament are being seen daily inside a new venue for the first time in 60 years. The new facility is called 'IG Arena.' IG is the name of an England-based securities company that paid for the naming rights. The Aichi prefectural government and other entities built the arena as a successor to Aichi Prefectural Gym, the venerable arena located in the vicinity of Nagoya Castle that had long hosted the city's annual tournament. Its sheer size makes IG Arena a sight to behold. It has a total floor area of 63,000 square meters, a ceiling 30 meters high and a maximum seating capacity of 17,000 for all manner of events. However, to ensure optimal viewing for sumo spectators, the capacity was limited during the tournament to about 7,800 for the three types of seating: ringside, box and chair. Given that the Nagoya tournament is also the inaugural event of the new arena, many fans are eagerly awaiting to see which wrestler will be the first to lift the Emperor's Cup there. The first tournament held at the current Ryogoku Kokugikan in 1985 was won by legendary yokozuna Chiyonofuji, who was in his prime at the time. Such milestone events seemed to make Chiyonofuji even stronger, as he also came away with the title at the first Kyu-shu tournament held at the Fukuoka Kokusai Center when it opened in 1981. Tochinishiki, an ozeki at the time who later became a yokozuna, won the title when the Osaka Prefectural Gym hosted its first Spring tourney in 1953. In 1965, the first tourney held at Aichi Prefectural Gym was won by the great yokozuna Taiho, who dominated sumo in the Showa era (1926-1989). The winners of these maiden tournaments form an illustrious lineup indeed. The Nagoya tournament will likely continue at the new arena for years to come. The moment when a new name is carved into sumo history there will be one to remember. — Kamimura is a sumo expert.
Time of India
7 days ago
- Entertainment
- Time of India
Legendary singer Ozzy Osbourne passes away at 76
John Michael "Ozzy" Osbourne, the lead singer of British heavy metal band Black Sabbath, has died at 76. He breathed his last on Tuesday after a yearslong struggle with Parkinson's disease, as per Variety. The news of Ozzy's demise was confirmed by his family via a statement, TMZ reported. The statement read, "It is with more sadness than mere words can convey that we have to report that our beloved Ozzy Osbourne has passed away this morning. He was with his family and surrounded by love. We ask everyone to respect our family privacy at this time." Ozzy had performed just two weeks ago at what was billed as Black Sabbath's last concert, a festival titled "Back to the Beginning," in his and the band's hometown of Birmingham, England, that amounted to a massive tribute to the legendary band, including from such legendary spiritual offspring as Metallica, Guns N' Roses, Slayer, Tool, Pantera, Alice in Chains and more. Ozzy Osbourne's Heartbreaking Health Update, His Final Goodbye Performance Black Sabbath Confirmed In January 2020, following two years of escalating health problems, Osbourne announced that he had been diagnosed with Parkinson's disease. In February 2023, he issued a statement saying that he was retiring from touring, citing spinal injuries he had sustained in a 2018 accident. He said, "[I]n all good conscience, I have now come to the realization that I'm not physically capable of doing my upcoming European/U.K. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dolly Parton, 79, Takes off Her Makeup and Leaves Us Without Words The Noodle Box Undo tour dates, as I know I couldn't deal with the travel required. Believe me when I say that the thought of disappointing my fans really F***S ME UP, more than you will ever know. "Never would I have imagined that my touring days would have ended this way." From 1969-79, Osbourne was the head-banging front man for the Birmingham, England-based Black Sabbath, which codified the bottom-heavy, churning sound and lyrical demonology that would course through dozens of metal bands to come. Though the group's history was a chaotic one characterized by monumental substance abuse and tumultuous in-fighting, its early albums survive as classics of the genre, as per Variety. His popularity among metal fans was so immense that his wife and manager Sharon Osbourne built a touring festival, Ozzfest, around him; it became one of the biggest box office attractions of the '90s and attracted a glittering lineup of support acts. Osbourne garnered additional fame early in the new millennium as the addled paterfamilias of "The Osbournes," an MTV reality series that focused its lens on the rock star's home life. Osbourne is survived by his wife, Sharon, and six children -- Jessica, Louis and Elliot from his first marriage to Thelma Riley, and Aimee, Kelly and Jack from his second marriage.
Indian Express
20-07-2025
- Indian Express
65-year-old grandmother ‘Gangsta Debbs' jailed for running $1.07 billion drug empire in UK
A 65-year-old grandmother dubbed 'Gangsta Debbs' or 'Queen Bee' has been sentenced to 20 years in prison for heading a sprawling, family-run cocaine operation valued at up to £80 million ($1.07 billion) on the streets, as per a report by the BBC. Deborah Mason, the matriarch of the south-east England-based gang, enlisted her children, their partners, and close family members to transport and distribute Class A drugs across the UK, Woolwich Crown Court heard on Friday. According to the BBC, the group operated under Mason's direction like a tightly run business. She was described by Judge Philip Shorrock as 'the site foreman working under a project manager.' The investigation began in April 2023 when undercover officers observed Mason loading boxes into a hire car in a Harwich retail park. After following the vehicle to Ipswich, they watched her hand over a laundry bag to a man. Her unassuming appearance had made her a calculated choice for such handovers, her barrister noting she 'would not catch the eye.' Over the next seven months, the Metropolitan Police tracked Mason and her gang as they collected cocaine from ports like Harwich, Folkestone, and Dover. The drugs, often tightly packed and split into supermarket bags, were delivered across cities including London, Cardiff, Bristol, Sheffield, and Manchester. One courier was found with 10kg of cocaine shortly after a drop in Leicester. Prosecutors said the gang trafficked at least 356 kg of cocaine in 20 known trips, with a potential street value of £80 million ($1.07 billion). The gang used the encrypted messaging app Signal to communicate, often under aliases. Mason had a particularly close relationship with a man known only as 'Bugsy,' believed to be the supplier. The two even holidayed together in Dubai and Bahrain. Prosecutor Charlotte Hole said Mason managed every detail, from wake-up calls for drivers to regular check-ins throughout their routes. Though she didn't purchase the drugs herself, Mason coordinated multi-kilo transactions and 'took a cut of the wages' of those working under her. Mason enjoyed the profits, splurging on Gucci accessories. When arrested, police found her in a bathroom draped with a DKNY towel. Holidays to Dubai, Malta, Prague, and Poland were also funded through the drug network. Even while abroad, she reportedly managed UK operations via FaceTime. Mason involved her three daughters, her son, two partners, and close family friends in the operation. Her son, Reggie Bright, 24, was among the most active, making 12 drug trips and delivering at least 90kg of cocaine. His partner, Demi Kendall, and sister Lillie Bright often accompanied him. The prosecution said all members were motivated by financial gain, and there was no sign of coercion. Defence lawyers argued the children were 'couriers' rather than key decision-makers. Specialist prosecutor Robert Hutchinson described the group as 'no ordinary family,' stating, 'Instead of nurturing and caring for her relatives, Deborah Mason recruited them to establish an extraordinarily profitable criminal enterprise that would ultimately put them all behind bars.' Sentences of jail terms have been handed down. (With inputs from BBC)
