BUSINESS LIVE: John Lewis hires its next chair; CVS suffers cyber incident; Gold continues to soar
By Live Commentary
Updated:
The FTSE 100 is up 0.1 per cent in midday trading. Among the companies with reports and trading updates today are John Lewis Partnership and CVS Group. Read the Monday 8 April Business Live blog below.
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Business output soars to highest level in nearly two years – marking a ‘turning point’ for UK economy
Nationwide under pressure to give members a say on £2.9bn takeover of Virgin Money after petition hits its target
Nationwide is under pressure to give members a say on its £2.9billion takeover of Virgin Money after a petition yesterday hit its target.
The building society, led by Debbie Crosbie, has said that it is not necessary to consult its 16m members – but Virgin Money shareholders will get a vote.
A petition set up by Nationwide members has secured 500 signatures, which could pave the way for a special meeting.
Aldi overtakes Asda to become Britain’s third biggest supermarket, analysis shows
Market update: FTSE 100 up 0.1%; FTSE 250 adds 0.3%
London-listed stocks have started the week on a cautious note as investors brace for US and UK economic data, which could prompt investors to reassess interest rate cut bets, while a rise in industrial metal miners limited losses on the benchmark index.
Leading sectoral gains, industrial metal miners have added 1.9 per cent as Shanghai copper prices jumped to a record high following supply cuts and positive demand prospects.
Precious metal miners also have also advanced 1.2 per cent, tracking an extended record rally in gold prices.
Focus will be on the upcoming US Consumer Price Inflation data, due on Wednesday, and Britain’s GDP figures on Friday.
Meanwhile, the European Central Bank is broadly expected to keep interest rates on hold in its monetary policy meeting on Thursday.
Top US financial firms kick off the earnings season on Wall Street later this week.
CVS Group hit by major disruption following cyber attack
CVS Group experienced ‘considerable operational disruption’ over the last week after it was struck by a cyber incident, the London-listed firm said on Monday.
The veterinary services provider, which runs 500 practices across the British Isles, the Netherlands, and Australia, told shareholders the attack involved ‘unauthorised external access’ to a small number of its IT systems.
Norfolk-based CVS took its computer systems offline in response, thereby preventing additional outside access.
John Lewis hires former Tesco exec to replace Sharon White as chair
John Lewis Partnership has appointed the former chief executive of Tesco UK and Ireland as its next chair, replacing Sharon White when she steps down later this year.
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BUSINESS LIVE: John Lewis hires its next chair; CVS suffers cyber incident; Gold continues to soar
