Shares plunged 10.9 per cent on Tuesday after Shadow Fall, the hedge fund run by Matthew Ear, published a 54-page report accusing the fashion giant of misleading investors about profits and cashflow.
London’s premier index rose 1.3 per cent to close at 6144.25. It has climbed 23 per cent from depths it plunged to in March, though it’s still down 20 per cent from a January peak of 7675.
The company said it wants to chase growth opportunities and strengthen its ‘global leadership position’. Founder and billionaire Mark Dixon owns 28.6 per cent of the business.
Industry data from research group Kantar showed supermarket spending hit £31.4bn in the 12 weeks to May 17, The 14.3 per cent rise was the biggest since records began in 1994.
The Financial Reporting Council has said that it will begin two probes. One will be into KPMG’s audit of Eddie Stobart for the year to November 2017, the other will look into PwC’s audit the following year.
Successive governments, since the Thatcher years, have lived in fear of the state taking stakes in troubled private sector firms. Northern Rock in 2007 and the crisis of 2008 changed that.
The US firm, which has musicians such as Michael Buble and Ed Sheeran (pictured) signed to its label, is resuming its plans to float some shares on the US Nasdaq stock exchange.
The bank had already announced it was axing 35,000 posts this year. But due to the pandemic, the lender now thinks its overhaul may need to be even more radical.
Just a day after the Government announced car dealerships would be allowed to reopen from next Monday, the Surrey-based company said 1,200 of its 4,000 workers would lose their jobs.
JD Sports and Primark owner Associated British Foods was a big riser on the FTSE 100 share index, as investors hoped Britons would soon be filling up their baskets again.