CMA rejects Sainsbury's and Asda's appeal for more time

UK competition authorities have told Sainsbury's and Asda they must stick the the current timetable, after the pair pleaded for more time to argue the case for their proposed £12bn merger.

UK's May to fight no confidence vote 'with everything I've got'

UK Prime Minister Theresa May said she would contest a challenge to her leadership scheduled for Wednesday evening "with everything I've got" after rebel Conservative MPs triggered a vote of no confidence in frustration at her inability to deliver a Brexit deal.

Filtronic set to make a loss for the year, shares crash

Shares in Filtronic tanked on Wednesday as the AIM-listed designer and manufacturer of antennas said it expects to make a loss for the current year as one of its customers will be purchasing fewer antennas than originally planned.

Superdry blames the weather again as it warns on profits

A day after its shares tumbled on the back of a broker downgrade, Superdry warned on profit again, pinning the blame on the weather as it posted a slump in underlying interim profit.

London pre-open: Stocks to gain amid optimism about Sino-US relations

London stocks were set for a firmer open on Wednesday, taking their cue from an upbeat Asian session as investors grew increasingly optimistic about Sino-US trade relations.

Wednesday newspaper round-up: Confidence, property, travel, Uber, Tesla

Theresa May will be put under pressure at her cabinet meeting today to start planning for a no-deal Brexit, with ministers around the table expecting a vote on her future to be called within hours. Cabinet members are set to push the prime minister to step up preparations for a hard Brexit as some claim that she has repeatedly stalled spending decisions to prepare for such an outcome. - The Times

London open: Stocks inch higher on trade hopes, May faces leadership challenge

London stocks edged higher in early trade on Wednesday, taking their cue from an upbeat Asian session as investors grew increasingly optimistic about Sino-US trade relations, even as Theresa May faced a leadership challenge.

Wood Group warns on market volatility; sees FY in line

Oil services outfit Wood Group warned of future market volatility as it reported 2018 results would be in line with expectations.

Airline industry to enjoy tenth year of profits in 2019 - IATA

The airline industry will see profits take off for the tenth year in a row in 2019, according to the International Air Transport Association, as oil prices soften and the global economy expands.

Dixons Carphone cuts dividend, plots faster revamp

Dixons Carphone said it would spend £200m over three years to accelerate its restructuring strategy after reporting a large first-half loss and cutting its dividend.

One third of government's expenditure goes to external suppliers

The UK government spends around one third (£284bn) of its total budget with private companies and could risk being unable to abandon current procurement arrangements even if politicians so wished, a new report has found.

Petrofac rakes in $146m as sale to Ithaca Energy completes

Petrofac announced on Wednesday that it has completed the sale of Petrofac GSA Holdings to Ithaca Energy UK.

Remortgaging soars as homeowners lock in low interest deals

The number of people remortgaging rose to its highest level for nearly a decade, as homeowners took advantage of an increasingly competitive market to lock in low interest rate deals.

London midday: Stocks rise amid trade war hopes, May faces leadership challenge

Calm prevailed in London's financial markets on Wednesday amid signs of improving Sino-US relations, with the FTSE 100 firmly in the green by midday and the pound languishing at recent lows but up on the day as investors mulled news of Theresa May's leadership challenge.

Sainsbury's and Asda ask CMA for more time, Rolls-Royce implementing contingency plans

London open The FTSE 100 is expected to open nine points higher on Wednesday, having closed up 1.27% at 6,806.94 on Tuesday.

Marshalls to buy brick manufacturer Edenhall, to exceed FY expectations

Marshalls announced the acquisition on Wednesday of concrete brick manufacturer Edenhall for up to £17.2m as it said it expects to exceed full-year expectations thanks to better second-half revenue growth.

Non-combustible products help keep British American Tobacco on track

British American Tobacco updated the market on its trading ahead of its closed period on Wednesday, reporting that it continued to perform “well”, with its full-year guidance remaining unchanged.

Anglo American updates its performance and growth outlook

Anglo American hosted a briefing for investors on Tuesday where it provided an update on the group’s current and projected operational and financial performance in which it expects to target $3-4bn of incremental annual EBITDA by 2022.

Strix Group enforces patents in China, Germany

Kettle safety control manufacturer Strix Group updated the market on its intellectual property protection initiatives on Wednesday, reporting that it had successfully enforced its patents, which were being breached by manufacturers in China.

Fulham Shore bucks the trend as profits rise; considers further expansion

Franco Manca and The Real Greek owner Fulham Shore posted a jump in interim pre-tax profit on Wednesday and said it is considering extending its opening programme beyond the current financial year.

Asia report: Markets higher on renewed hopes of trade war de-escalation

Markets in Asia finished in the green on Wednesday, on renewed hopes of an improvement in the political relationship between the US and China.

BigBlu Broadband's growth driven by new customers

BigBlu Broadband reported on Wednesday that annual revenues had expanded on the back of higher customer numbers and recurring revenue.

Minor victory for Indivior in Dr Reddy's court battle

Indivior received some better news from the US courts overnight in its battle with drugmaker Dr Reddy's, which had developed a copycat version of the UK company's best-selling treatment.

BTG and Boston Scientific extend acquisition deal regulatory dates

BTG announced on Wednesday that itself, its suitor Boston Scientific, and the acquisition vehicle Bravo Bidco, have entered into an amendment to the co-operation agreement to extend the date by which certain regulatory filings must be made in Spain, Germany and other relevant jurisdictions.

Go-Ahead awarded another German rail franchise

Go-Ahead Group has been awarded the first lot of the ‘Augsburger Netze’ rail routes, it announced on Wednesday, by the Bavarian rail authority and the Baden-Wurttemberg public transport authority.