- 7 June 2022
The Market Report with Katie Pilbeam.
FTSE 100 was going nowhere in early dealings rather like Boris Johnson even though 41% of his MP colleagues voted against him in last night’s no-confidence motion. Whether the PM will eventually have to go seemed to matter less to investors than China easing its Covid restrictions with the index down 2 at 7,605.
Biffa is the latest UK company in the sights of US private equity. The waste recycler has received a £1.4bn, 445p per share, takeover approach from Energy Capital, which Biffa’s board say they are minded to accept.
Retail sales in May dropped 1.5% on a like-for-like annual basis according to the British Retail Consortium, something it blamed on the cost of living surge. Footfall over the Jubilee, however, was 6.9% higher than an average May weekend said the BRC.
Britain is facing “national fuel crisis” according to the RAC. Simon Williams, the motoring group’s fuel spokesman, said further government intervention was “urgently needed” including a cut in fuel duty and or VAT.
Ted Baker’s chosen buyer has pulled out just a fortnight after it was given full access to the company's accounts. The clothing brand said its board was now pondering whether to return to one of its spurned suitors and see if their previous proposals were still on the table.
Among the small caps, Open Orphan boasted record sales, up 76%, and swung to a profit last year as human challenge studies were reignited by the pandemic. Orders have also surged ahead and now stand at £64mln.
Zephyr Energy aims to monetise its Utah gas resources through a fast-tracked cryptocurrency mining venture this summer. The company said that the crypto facility could be operational in as little as eight to 12 weeks, in tandem with the start of production from the State well.
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Al Jazeera: DW News: France 24: Sky News: Euronews in english: Arirang TV:
GENEVA — 
UN News Russian attacks on civilian targets in Ukraine could be a war crime: UN rights office
As Russia's war on Ukraine enters its 103rd day, we take a look at the main developments so far ⤵️ https://t.co/gLCnLE556Y
— Al Jazeera English (@AJEnglish) June 6, 2022
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