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Added on the 13/07/2016 13:53:06 - Copyright : Reuters EN
GlaxoSmithKline has beaten quarterly sales and profit expectations and said it expects even bigger gains in 2016. As Laura Frykberg reports, it's all thanks to a weak pound, which has continued to fall after Britain's vote in June to leave the European Union.
Wall Street sold off on Tuesday as disappointing corporate reports gave a sour tone to the start of earnings season and investors digested possible changing dynamics for the upcoming U.S. elections. Bobbi Rebell reports.
British airline easyJet says profits fell by more than a quarter in the year just ended and suggests trading remains tough as fares continue to decline and a weak pound weighs. As Hayley Platt reports, the update sent easyJet shares down 6 percent.
The Bank of England took steps to ensure British banks keep lending and insurers do not dump corporate bonds. Its Governor, Mark Carney, says the economic risks it warned of before the vote to leave the European Union had started to materialize, as Laura Frykberg reports.
Burberry says it will overhaul its retail operations and simplify its product range after full-year profit fell 10 percent. As Hayley Platt reports, the British luxury brand says the tough market is set to persist this year.
The first official budget figures since Britain voted to leave the EU show a smaller-than-expected budget surplus. As post-referendum data continues to trickle in, attention is turning to what sort of access Britain will seek with its main trading partners in the EU. Kirsty Basset reports.
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