BANK PLUNGE Shares in Deutsche Bank have tanked as investors vented their anger at plans to slash 7,000 jobs. The cuts are widely seen as evidence Deutsche is abandoning its ambitions to rival Wall Street.
SPIRITS SELL-OFF Guinness and Gordon’s gin owner Diageo is selling spirits such as Myers Rum, Popov vodka, and Romana Sambuca to focus on upmarket drinks.
GLOBAL BOOM UK defence firm Qinetiq now gets nearly one-third of its revenue from abroad, in areas such as the US, Australia, Saudi Arabia and Qatar.
International sales have grown from 21 per cent of total sales to 27 per cent in two years.
SHOW JOY Retailer Shoe Zone defied the high street gloom, with a pre-tax profit of £955,000 in the six months to March 31, compared with £309,000 in the same period in 2017.
Revenue grew 1.1 per cent to £73.7million.
RAIL GROWTH Public transport provider Go-Ahead expects full-year results to be slightly ahead of expectations, boosted by efficiencies on the Southeastern rail franchise. Passenger revenue grew 3.5 per cent in the year to date.
HEADING OFF Sir Brian Stewart is stepping down as chairman of Magners cider owner C&C Group, to be replaced by Stewart Gilliland.
TREASURY BACKING Gertjan Vlieghe, 47, has had his reappointment to the Bank of England’s interest rate-setting team backed by the Treasury Select Committee.
ROMANIA FOCUS Payments company Paypoint is seeking to bulk up in Romania, a key growth market, after profits fell 0.8 per cent to £52.9million in the year to March 31.
KRAKEN YIELD North Sea oil producer Enquest’s new Kraken field produced an average 36,000 barrels per day during the first four months of the year.
FLARES DEAL Defence firm Chemring, under investigation by the Serious Fraud Office over corruption claims in Algeria, has been awarded contracts worth £20million to make flares for the US Army.
£50M LOSS Recycling business Renewi lost £50million in its first full-year results following its merger with Van Gansewinkel.
UBER SWOOP Uber’s food delivery arm has bought Dallas-based Ordertalk, whose technology handles about £750million of orders a year.