Next hikes targets as heatwave boosts sales August 5, 2026 Next has upgraded its profit targets for the year after breezing past second quarter expectations, putting its shareholders in line for a bumper payday. The FTSE 100 retail giant hiked its pre-tax profit expectations for 2026 to £1.24bn, around £25m higher than previously estimates. If achieved the figure would mark 7.3 per cent growth on [...]
As it happened: Stocks rise as oil fluctuates after Red Sea attack; US-Iran deal ‘being circulated’ August 5, 2026 Welcome back to the Morning Wire liveblog. Oil prices have snapped a losing streak following Yemen’s Houthis said they had attacked a Saudi vessel in the Red Sea. Brent crude drew back above the $80 per barrel mark on Wednesday morning on the news, but prices were still down for the week by around 10 [...]
Will Drastic Dave live up to his name at Diageo? August 4, 2026 Putting the finishing touches to Diageo’s annual report, Sir Dave Lewis may be channelling the old slogan of the drinks giant’s prize brand, Guinness: ‘Good things come to those who wait’. Since Lewis began his tenure as chief executive of the FTSE 100 firm on New Year’s Day, investors have heard very little from him. [...]
Domino’s battles for slice of fried chicken market as revenue jumps August 4, 2026 Domino’s has scored a World Cup boost from its bet on fried chicken, as the recovering pizza delivery chain looks to draw in new customers. The FTSE 250 pizza chain said the World Cup and its new ‘Chick’n’dip’ range drove a six per cent jump in revenue to £825m in the six months to June, [...]
As it happened: Oil prices tumble as Bessent says US-Iran deal imminent; miner stocks rally August 4, 2026 Welcome back to the Morning Wire FTSE 100 liveblog. The price of oil tumbled on Tuesday afternoon after a senior Trump ally said that a deal over control of the Strait of Hormuz could be agreed with Iran in the coming days. The price of Brent crude – the international benchmark for oil – tumbled [...]
Retailers hit back at Healey’s ‘profiteering’ threat August 3, 2026 Retailers have hit back at the Chancellor’s warning against profiteering, saying they will prove they have fought hard to keep food prices down during the Iran war. Chancellor John Healey said at the weekend that the Treasury is prepared to crack down on any retailers which are taking Brits “for a ride” by using the [...]
As it happened: UK stocks cool after Astrazeneca drags; Trump and Iran clash over peace talks August 3, 2026 Welcome back to the Morning Wire liveblog. The London stock market is starting the new week relatively mixed after Donald Trump hinted a deal between US and Iran on the Strait of Hormuz is near, but was contradicted by communication from Tehran. The US President has said that Saudi Arabia, the UAE, Qatar and Iran [...]
Can a team of retail veterans solve Argos’ catalogue of woes? July 31, 2026 The death of the Argos catalogue in 2021 after nearly half a century prompted a period of mourning for many in Britain – including the retailer’s new owner. “I used to sit around the kitchen table putting green shield stamps into books,” Richard Pennycook said on Friday, referring to the original iteration of the catalogue. [...]
Sainsbury’s to sell Argos in £120m cut-price deal July 31, 2026 Sainsbury’s has said it will sell long-struggling catalogue retailer Argos for £120m, a fraction of the £1.4bn it bought it for a decade ago. The supermarket giant has struck a deal with Swift Partners – a new company led by On the Beach chairman Richard Pennycook and former Morrisons boss Trevor Strain. Their takeover will [...]
As it happened: Stocks reach new record as investors shrug off Iran war fears July 31, 2026 Welcome back to the Morning Wire liveblog. It’s Friday morning and the FTSE 100 has opened into the green, following two consecutive days of record gains for the blue-chip index. London’s blue-chip index was up as high as 0.7 per cent in early trading to 10,971.88p, “The FTSE 100 tested new record highs on Friday morning as [...]