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Pound slips to 2018 low against the dollar
Debenhams profit warning sees shares slump 14%
McCarthy & Stone shares fall 19%
Footyasylum shares collapse, down 42%
Image source, Getty ImagesRussia will impose tariffs on imports of certain goods from the US in response to tariffs placed on steel and aluminium imports by Washington, Economy Minister Maxim Oreshkin (pictured) said.
The tariffs will target goods that Russia has domestic equivalents of, and the move will not affect Russian macroeconomic performance, Mr Oreshkin said.
Image source, Getty ImagesUS stock have tumbled at the open after rising trade tensions between the US and China, The Dow Jones fell 1.3% to 24,671 points, the S&P 500 fell 0.2% to 2,774 points, and the Nasdaq fell 1% to 7,670.
Image source, ASOSAsos is banning products which contain feathers, silk, cashmere and mohair from its website.
The fashion retailer says it has updated its animal welfare policy and will stop stocking products using these materials by the end of January 2019.
Animal rights group Peta said it "applauds ASOS for leading the charge for compassion in fashion".
Asos has already banned fur, angora and other rabbit hair and products which use materials from vulnerable animals.
Image source, Getty ImagesSmaller firms could add billions of pounds a year to the UK economy if they were as productive as their German counterparts reckons NatWest.
It's published research that suggests that workers in small to medium sized businesses in the UK generate £147,000 worth of output per year on average. But that's less than half of those in Germany.
The gap underlines official figures showing that UK productivity fell in the first quarter of the year, according to the report.
The pound is still struggling against the dollar after falling to a 2018 low on the back of Trump's latest trade war outbursts.
It's down 0.7% on the day to $1.3153.
Looking at the markets, the FTSE 100 is still stumbling along at around 40 points down on the day. It's fallen 0.56% to 7588.92.
The FTSE 250 is similarly down 0.6%, dropping 97.78 points to 20,901.82.
McCarthy & Stone is the biggest faller on the FTSE 250 index, slumping 14.64% to 111.35.
Image source, Getty ImagesThe petrochemical giant Ineos has lost its legal challenge to overturn the Scottish Government's ban on fracking.
The Scottish government announced a moratorium on fracking in 2015 and launched a review of the controversial oil extraction technique.
After considering the evidence for two years, ministers concluded there was "overwhelming opposition" and announced what was described at the time as an "effective ban", enforced via planning powers.
Ineos argued that it is unlawful for ministers to use planning powers to prohibit fracking in Scotland.
Image source, PACard giant Visa told the Treasury Select Committee that it's failure on 1 June led to 5.2 million card transactions being affected, including 2.4 million transactions in the UK.
It has pledged to compensate customers affected by the failure
It explained that the outage occured because of a problem in its processing system, which saw a component within a switch in its primary data centre suffer “a very rare partial failure”, which prevented a back-up switch from operating.
The outage lasted from 2.35pm on 1 June to 12.45am on 2 June but Charlotte Hogg, chief executive of Visa Europe, said that during the incident 91% of transactions of UK cardholders processed normally.
She added that “we have been focused on identifying all necessary steps to prevent a reoccurrence”.
An independent review will examine the lessons to be learnt from the incident.
Image source, Getty ImagesScandal-hit car company Audi has suspended chief executive Rupert Stadler and appointed sales executive Abraham Schot as an interim replacement with immediate effect.
The move comes a day after Stadler was arrested over the diesel emissions scandal.
"Stadler has requested that the Supervisory Board release him from his position in the Board of Management of AUDI AG and in the Board of Management of Volkswagen AG," Audi said in a statement.
Stadler's suspension from board duties will be temporary until the circumstances of his arrest are clarified, Audi said.
Image source, Getty ImagesChinese smartphone maker Xiaomi has lowered its likely valuation to between $55bn and $70bn following a decision to delay its mainland share offering until after its Hong Kong IPO, according to Reuters.
The delay was triggered by a dispute between the company and regulators over the valuation of its China depositary receipts, according to the report.
The move casts doubt on Beijing’s efforts to lure foreign-listed Chinese tech giants back home, the report said.
Image source, FootasylumFootasylum shares have almost halved in value. So what's upset investors so much?
Well, it warned that profits, external for the 2018/2019 financial year would "show more modest growth" then 2017/2018.
It also said that trading this year had been hit by weak consumer confidence.
Investors don't like such comments, but coming from a company that only listed last November, they are particularly alarming.
Analysts at stockbrokers Peel Hunt also worry that the company faces long-term concerns. In particular Nike and Adidas are cutting back on the number of retailers they supply.
"Footasylum may find that its access to the cool product files is restricted over time. Days like today won’t help," their report said.
In the wake of Daily Mail editor Paul Dacre's imminent retirement, Guardian media business correspondent Mark Sweney has news of more Daily Mail moves:
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Image source, Getty ImagesWant room service? Well you might have to ask Alexa.
Marriott International is going to experiment with using Amazon's Alexa, along with the voice-activated device Echo, which uses Alexa.
The device could be used for ordering room service, requesting housekeeping or calling the concierge.
Image source, Getty ImagesShares in industrial equipment supplier H C Slingsby have slumped a third today after it issued a profits warning, external.
The AIM-listed Shares fell 33% from 75p to 50p after the company reported a 6% slump in sales for the three months to 31 March and a 1% fall in sales in the five months to the end of May.
It said: "Disappointing levels of order intake across the group so far during June 2018 lead the directors to remain cautious regarding the outlook for the results for the six months to 30 June 2018."
BBC personal finance correspondent Simon Gompertz tweets:
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Image source, Getty ImagesMario Draghi, The President of the European Central Bank, has promised this morning that the Bank will take its time to lift interest rates.
His speech at an ECB conference in the Portuguese town of Sintra reinforced last week’s agreement by policy makers to keep borrowing costs unchanged at least through the summer of 2019.
He said: “We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter.”
E.ON will raise prices for standard dual fuel customers by 4.8% from 16 August, the German utility said on Tuesday.
Prices for electricity-only customers will jump 6.2% and by 3.3% for gas-only customers.
E.ON said the increase is needed "due to the significant rise in the cost of wholesale energy, and in common with similar pressures faced by a number of other suppliers of all sizes across the industry over recent months".
Image source, Google FinanceMoneysupermarket shares have slumped today
Shares in Moneysupermarket have fallen more than 7% - or 24p - after a broker slashed its price target.
Barclays Capital cut its price target for the financial services comparison site to 310p from 330p. The shares are currently trading at 299p, down from 321p on opening this morning.
Image source, PAOne in three workers at Poundworld's head office have been made redundant, the BBC has learned.
Some 98 workers are believed to have lost their jobs out of 270 employed at the company's head office.
It could be the first of more bad news to emerge from the struggling chain which went into administration last week, putting around 5,100 jobs and 335 stores under threat.
The administrators Deloitte are understood to be looking at a number of bids for different parts of the chain.
Poundworld stores and the company's distribution centre remain open as the search of a buyer continues.
The pound has been on an interesting journey this year. In April it rose as high as $1.4325 and seemed to be heading towards levels not seen since before the referendum on European Union membership in June 2016.
In the weeks before the referendum it was trading close to $1.50.
But since April the pound has fallen around 8%. That largely reflects the receding likelihood of an imminent increase in UK interest rates.
It is now firmly below $1.32.