Latest news with #London
Irish Times
3 hours ago
- Business
- Irish Times
Global markets soar amid signs of progress on US trade deals
Global markets soared on Thursday as investors digested US corporate earnings along with signs of progress in tariff negotiations between the US and its trading partners. Dublin Euronext Dublin was up 1.3 per cent, largely boosted by strong performances from the Irish banks. Bank of Ireland and AIB were up 4 per cent and 3 per cent respectively, with the banking sector generally up across Europe. Ryanair continued its recent rise, climbing 0.7 per cent. Its peer airline Wizz Air finished down 0.5 per cent after it missed first-quarter profit estimates. 'There was a bit activity around the airlines due to that news flow, and Ryanair benefited from that,' said a trader. READ MORE Elsewhere, two heavyweights on the index, food giant Kerry Group and Cavan-based insulation specialist Kingspan, both finished up 0.5 per cent. London Britain's FTSE 100 rose to a record close, boosted by upbeat corporate results and optimism over a potential EU-US trade agreement. The benchmark FTSE 100 closed up 0.9 per cent, while the domestically-oriented midcap FTSE 250 gained 0.6 per cent. The personal care and grocery stores index led sectoral gains, up 2.6 per cent, boosted by Reckitt, up 9.9 per cent, after the consumer goods company raised its annual revenue forecast. Healthcare stocks rose 1.9 per cent with AstraZeneca up 2.1 per cent after the drugmaker's rare immune disorder drug succeeded in an advanced trial. GSK added 1.4 per cent after the US Food and Drug Administration on Wednesday extended its review of the drugmaker's blood cancer drug. Media stocks advanced 2.3 per cent, led by ITV which rose 13.3 per cent after the broadcaster's half-year results beat forecasts. Conversely, precious metal miners fell 1.4 per cent, tracking a drop in gold prices. Endeavour Mining fell 1.3 per cent, and Fresnillo was down 2.1 per cent. Europe Shares on the Continent advanced amid reports the European Union and Washington were close to clinching a tariff agreement, close on the heels of a similar deal with Japan. MSCI's gauge of stocks across the globe rose 3.03 points. The pan-European Stoxx 600 index rose 0.23 per cent, while Europe's broad FTSEurofirst 300 index rose 0.2 per cent. The Dax 40 in Frankfurt gained 0.2 per cent, but the Cac 40 in Paris fell 0.4 per cent. New York The S&P 500 and the Nasdaq hit record highs as big technology stocks rose after Google parent Alphabet's robust earnings, while the Dow was weighed down by losses in IBM, UnitedHealth, and Honeywell. In morning trading, the S&P 500 gained 0.25 per cent; and the Nasdaq Composite gained 0.25 per cent. Alphabet rose 1.9 per cent after it raised its 2025 capital spending forecast, shrugging off trade jitters, and reinforcing investors' confidence in AI investments and returns. Losses in UnitedHealth, IBM and Honeywell weighed on the blue-chip Dow, which fell 0.33 per cent – though it remained close to its December 4th record high. UnitedHealth lost 3.7 per cent. The insurer revealed it's co-operating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations. IBM dropped 8 per cent as its second-quarter results fell flat with investors, hampered by disappointing sales in its core software division. Honeywell, meanwhile, dipped 4.6 per cent despite topping Wall Street's expectations and raising its annual outlook. Electric vehicle maker Tesla tumbled 9 per cent, as CEO Elon Musk warned of 'a few rough quarters' due to cuts in EV incentives. The stock has fallen about 25 per cent for the year so far. Some of Wall Street's heavyweights were starting to feel the sting of Trump's sweeping tariffs. American Airlines fell 9.2 per cent after forecasting a bigger-than-expected third-quarter loss, hurt by sluggish domestic travel demand. – Additional reporting: Agencies
CNA
3 hours ago
- Sport
- CNA
Arsenal sign defender Mosquera from Valencia
Arsenal have signed central defender Cristhian Mosquera from LaLiga side Valencia on a long-term deal, the Premier League club said on Thursday. Details of the transfer were not disclosed but British media reported the 21-year-old Spaniard has signed a five-year contract for an initial fee of around 15 million euros ($17.7 million), plus add-ons. Mosquera featured in 90 matches for Valencia across all competitions and played 37 of their 38 LaLiga games last season to help them finish 12th. He joins Martin Zubimendi, Kepa Arrizabalaga, Christian Norgaard and Noni Madueke among Arsenal's close-season signings. Striker Viktor Gyokeres is also reported to be on the brink of joining the London club as manager Mikel Arteta looks to strengthen his squad after finishing runners-up in the last three Premier League seasons. "We're delighted to welcome Cristhian to Arsenal. As a 21-year-old defender, Cristhian has already performed consistently well with significant experience in LaLiga," Arteta said in a statement. "He is an intelligent player with good pace, who can play centrally and on both sides."
The Independent
3 hours ago
- Business
- The Independent
Woody Johnson completes purchase of Crystal Palace shares
Crystal Palace have confirmed that Woody Johnson's purchase of Eagle Football's shareholding in the club has been completed. American businessman Johnson – who is co-owner of the New York Jets – joins chairman Steve Parish, Josh Harris and David Blitzer as a partner and director of the Eagles, and has also signed the Premier League's Owners' Charter. 'I am honoured and privileged to be joining the ownership group of Crystal Palace Football Club,' Johnson told the Eagles website. 'It is an organisation with a proud history, tradition, and deep roots in English football in South London, which I came to admire during my time as US Ambassador to the United Kingdom. 'Eagles fans have demonstrated extraordinary loyalty, passion, and unwavering dedication and I am excited to meet and get to know them. 'I have great respect for Steve Parish and the leadership he has provided over the years. 'I look forward to working with him and the entire ownership group to build on the club's recent successes and help shape an exciting future for Crystal Palace. 'This is more than an investment – it's a commitment to realising the vision for the club, the community, and the culture around Selhurst Park.' Johnson's arrival at Palace comes with the club in dispute with UEFA over which European competition they will play in next season after winning the FA Cup in May. The Eagles were demoted from the Europa League to the Conference League after falling foul of UEFA's rules governing multi-club ownership, but have submitted an appeal to the Court of Arbitration for Sport. UEFA determined that as of March 1, American businessman John Textor had control or influence in Palace and French club Lyon. Textor said he had agreed to sell his stake in Palace to Johnson, but the move came too late to satisfy UEFA. Parish said: 'At this exciting time for Crystal Palace, we are delighted to be welcoming Woody to the ownership of the football club, and we very much look forward to working alongside him to build on our historic recent success moving forwards.'
The Independent
3 hours ago
- Entertainment
- The Independent
Spacey told actor ‘don't worry about it' after alleged assault, documents claim
Kevin Spacey allegedly sexually assaulted a young actor at a party at The Savoy hotel and then told him 'Don't worry about it', court documents for the High Court legal claim suggest. Ruari Cannon is suing Mr Spacey as well as two organisations connected to the Old Vic Theatre in London, claiming he suffered psychiatric damage as a result of sexual and emotional abuse. The 33-year-old has waived his anonymity in the claim. In court documents seen by the PA news agency, Mr Cannon alleges that Mr Spacey, who was a 'powerful figure and a world-famous actor and celebrity' at the time, assaulted him in about June 2013, when he was 'a very vulnerable young man'. Oscar-winning actor Mr Spacey has previously denied allegations of inappropriate behaviour and wrongdoing, and details of his defence are not yet available. According to the documents, filed in June, Mr Spacey was working as artistic director at the Old Vic Theatre at the time of the alleged assaults on a production of a play by Tennessee Williams known as Sweet Bird Of Youth, and Mr Cannon was a member of the cast in this production. They claim that Mr Spacey 'took a particular interest' in Mr Cannon for 'reasons of sexual interest' and sent him a 'lavish' gift of a framed poster of the 1985 production of the play directed by Harold Pinter. After the press preview of the show on June 12 2013, Mr Cannon attended a party at The Savoy in London organised by The Old Vic Theatre Company (The Cut) and The Old Vic Theatre Trust 2000. It is claimed that one of the alleged assaults took place at the event. Setting out the allegations, Elizabeth-Anne Gumbel KC, for Mr Cannon, said: 'Kevin Spacey pulled the claimant towards him, turned him around through 45 degrees and placed his left hand on the claimant's buttocks and lifted up the recess material of his suit.' It is alleged that Mr Spacey then pushed Mr Cannon's underwear 'as far up' into his bottom as possible, 'so as to cause pain and distress'. Ms Gumbel added: 'Mr Kevin Spacey pulled the claimant closer to him and whispered into the claimant's ear 'Don't worry about it'. 'Mr Spacey made more uncalled for and unwelcome advances to the claimant during the evening.' The following day, Mr Cannon reported the alleged assaults to his stage manager at the Old Vic Theatre, but no action was taken. According to the documents, it is accepted that Mr Cannon did not ask for any action to be taken, and was scared about how any further action might affect his career. Later that year, during the run of the show, Mr Cannon saw Mr Spacey at the Old Vic bar. Mr Spacey allegedly said to him, 'I hear you have a dirty secret', and then said: 'Open up.' Ms Gumbel said: 'Kevin Spacey then forced open the claimant's mouth with his fingers and thumbs and commented 'quite a bad boy' before the claimant could pull away. 'The claimant then left the bar. The forcing open of the claimant's mouth was another assault for which Kevin Spacey was responsible and for which the second and/or third defendants were vicariously liable. 'Further in 2017 when the Old Vic set up a confidential complaints email on October 31 2017 the claimant reported the above complaint again to the Old Vic.' She added that the alleged assaults were carried out by Mr Spacey in the course of his work for the organisations connected to the Old Vic, and they are 'vicariously liable' for the alleged assaults carried out in the context of a theatre production.
The Sun
3 hours ago
- Business
- The Sun
Iconic fashion chain plans UK high street RETURN after going bust and shutting 46 stores
AN iconic fashion chain is planning to make a triumphant return to the high street next year, The Sun can exclusively reveal. Ted Baker is set to make a comeback to the British high street in early 2026, sources close to the matter have said. It is understood the brand is planning to return to London, with more details to be confirmed closer to the time. It's not clear yet how many shops there will be or whether there will be any outside the capital. The news comes more than a year after the much-loved brand dramatically collapsed and shuttered all its stores in August 2024. Founded in 1988, Ted Baker was well-known in the 90s for its clothes and accessories with bold and floral designs. A decade ago it was one of the strongest names in the retail sector with 550 shops and concessions around the world - but has recently ran into major difficulties. Shoppers were shocked when the fashion giant fell into administration in March last year. It brought back its website in November last year, stocking a range of menswear, womenswear and accessories. The website currently ships to the UK only but it says it will offer international shipping "very soon". The Sun has approached Ted Baker for comment. What happened to Ted Baker The company's troubles first began in 2019 after its founder Ray Kelvin quit his role following allegations of harassment. Fashion chain to shut all shops It then put out several profit warnings, which is when a company advises the stock market that profits will be lower than expected. In 2020, the retailer said it would axe 160 jobs. More bad news came in March 2024 it collapsed into administration, putting dozens of stores and hundreds of jobs at risk. By then the company had 86 stores across the UK and 975 employees. No Ordinary Designer Label (NODL), owned by Authentic Brands Group (ABG) and trading as Ted Baker, appointed Teneo as administrators. NODL blamed a deal going sour between its owners and a Dutch operating partner that had allegedly promised to inject cash into the business. By April, Ted Baker had announced it would close 15 stores with the loss of 120 jobs. The Sun exclusively revealed in July 2024 that the brand was at risk of disappearing from the high street forever within weeks. It was then announced that the last of Ted Baker's 31 stores would be closed for good in August. The brand launched huge clearance sales to get rid of its final stock, with at least one store advertising at least 70% off everything. Shoppers raced to clear the shelves of glamorous maxi dresses, winter coats and men's suits at bargain prices before the stores shut forever. Other iconic brands that have come back from collapse Ted Baker wouldn't be the first brand to make a dramatic comeback to the high street. Shirtmaker T.M. Lewin announced last month it would be opening more stores in London, Manchester and Edinburgh. The brand had fallen into administration and shut all of its 66 branches in 2020. Last year, fashion and homeware chain Cath Kidston made a surprise return by opening a store in Westfield White City, London. The retailer had crashed into administration and shut all of its stores in 2023. Wilko also made a high street comeback with stores in England, Scotland, Wales and Northern Ireland almost a year after it went into administration. Meanwhile fashion chain M&Co opened a new store in Scotland a little more than a year after it collapsed. What does going into administration mean? WHEN a company enters into administration, all control is passed to an appointed administrator. The administrator has to leverage the company's assets and business to repay creditors any outstanding debts. Once a company enters administration, a "moratorium" is put in place which means no legal action can be taken against it. Administrators write to your creditors and Companies House to say they've been appointed. They try to stop the company from being liquidated (closing down), and if it can't it pays as much of a company's debts from its remaining assets. The administrator has eight weeks to write a statement explaining what they plan to do to move the business forward. This must be sent to creditors, employees and Companies House and invite them to approve or amend the plans at a meeting. A Notice of Intention is used to inform concerning parties that a company intends to enter administration. It is a physical document which is submitted to court, usually by directors aiming to prevent a company from being liquidated. Like with a standard administration process, a Notice of Intention stops creditors from taking out any legal action over a company while they try and rectify the business.
