Good morning from a very rainy London, here are the business headlines so far today.
The FTSE 100 has fallen to ten-day lows this morning under sustained pressure from dour market sentiment in the US. Federal Reserve chairman Jerome Powell has suggested US interest rate hikes may come higher and faster than originally expected.
Back here in the UK though, the country’s largest independent oil & gas producer Harbour Energy has slammed the government’s windfall tax on energy firms, claiming the levy had all but wiped out it profits. Pre-tax profits were US$2.5bn, but Harbour was left with just US$8mln after deductions.
Ladbrokes and Coral owner Entain reported a 13% rise in its 2022 underlying pre-tax profits to £993mln, adding that its confident in its long term strategic prospects.
Insurer Aviva is the FTSE 100’s biggest gainer this morning, reporting 35% higher operating profits for the year of £2.21bn and prompting a £300mln share buyback programme.
That’s all for now, this morning’s report was Josh Lamb and presented by me, Thomas Warner.
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