The FTSE 100 opened lower this morning, despite confirmation from the ONS that the UK managed to stave off recession in the fourth quarter. A 0.5% fall in GDP in December meant overall growth was effectively neutral over the three months.
Rumours of a takeover of Standard Chartered by First Abu Dhabi Bank were denied overnight, after reports emerged of a possible deal yesterday, sending the lender’s share price soaring.
Online fashion retailer Asos has announced Sean Glithero will step up to the role of chief financial officer from May, as it looks to reinforce its leadership and simplify decision making.
Elsewhere, Rupert Murdoch’s News Corporation said it will cut 1,250 jobs after missing second-quarter earnings forecasts amid weakness in its news and digital real estate wings.
That’s all for this morning, today’s report was written by Josh Lamb and presented by Thomas Warner.