Persimmon weighs on FTSE 100

Housebuilder Persimmon was one of the biggest fallers on Wednesday, losing almost 4% after issuing a poorly received trading update.It gave few details in its update, but said that sales were “in line with the prior year” and “pricing remains firm across our regional markets”.Rival builder Barratt Developments also …

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Monarch loses slots battle in High Court

Monarch Airlines has lost its High Court battle over “valuable” runway slots it wanted to exchange with other carriers to raise cash for creditors.The airline ceased trading last month and its administrators’ lawyers called the slots its “most valuable asset”.The company which allocates 39 airports’ slots accepted that Monarch …

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Former Rolls-Royce staff bribery claims revealed

Charges against three former Rolls-Royce employees and two individuals in relation to an alleged bribery scheme have been revealed by US authorities.The documents detail how the former staff allegedly paid kickbacks to others, including a foreign official, to win work on a new gas pipeline.Four of the five people …

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Snapchat loses $40m on flop Spectacles

The company behind Snapchat has taken a $40m (£30m) hit to its finances after its video-recording sunglasses failed to sell as well as hoped.Snap launched Spectacles in September 2016, originally selling them only through pop-up vending machines.Pressing a button on the glasses records a short video that can be …

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EU car firms should cut CO2 emissions by 30% from 2030

The European Commission has published proposals aimed at reducing vehicles’ carbon dioxide (CO2) emissions by 2030.The move is designed to put further pressure on manufacturers to develop more hybrid and electric cars.The Commission also wants to introduce an incentive scheme to encourage companies to produce more zero and low-emission …

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