Hostmore (LSE: MORE), the owner of TGI Fridays, reported a narrowed annual loss for 2023. The company's share price fell 9% to 19.00 pence on Friday following the announcement. Revenue in 2023 dipped slightly to £190.7 million from £195.7 million a year earlier. However, the company's pre-tax loss narrowed significantly to £25.5 million from £108.3 million. The improvement was driven by a series of cost-cutting measures, including delaying new store openings and improving operations at existing locations. The company also implemented a new capital allocation policy focused on reinvesting prof ..read more

London stocks closed firmly higher on Friday, propelled by softer-than-expected U.S. employment data that stoked hopes for an earlier pivot from the Federal Reserve on interest rate hikes. The FTSE 100 rose 0.5%, with the mid-cap FTSE 250 gaining 0.6% and the AIM All-Share up 0.5% The moves capped a positive week for UK equities, with the FTSE 100 rising 0.9%, the FTSE 250 up 1.7%, and the AIM All-Share advancing 2.0%. U.S. nonfarm payrolls increased by 175,000 in April, below forecasts of 243,000, while the unemployment rate ticked up to 3.9%. The softer labor market print fueled expectations ..read more

Struggling bar chain Revolution Bars Group (LSE: RBG) has confirmed they held discussions with rival Nightcap regarding a possible takeover deal. The news comes after Revolution announced a restructuring plan that could see 18 bars closed due to cost pressures and reduced footfall. Revolution’s share price rose sharply on Thursday but has fallen over 70% in the past year. Discussions with Nightcap, which owns popular chains like Cocktail Club and Dirty Martini, encompassed a range of potential transactions, including a full acquisition of Revolution. This follows previous reports suggesting in ..read more

Tether, the biggest stablecoin pegged to the US dollar, is ramping up efforts to fight illegal activity in crypto markets. The company announced a partnership with blockchain analytics firm Chainalysis to identify transactions linked to sanctioned entities and track major token holders. This move comes after recent reports suggesting the potential misuse of Tether for sanctions evasion by Venezuela and Russia. Tether claims all transactions are traceable and can be frozen if necessary, underlining their commitment to catching criminals. Tether’s rapid growth, reaching $100 billion in circulati ..read more

Apple (AAPL) recorded its biggest drop in iPhone sales since the early days of the COVID-19 pandemic, with revenue from January to March down 10% year-over-year to $90.8 billion (£72.4 billion). The dip marked the company’s fifth consecutive quarterly revenue decline. Despite the sales slump, Apple’s share price rose nearly 7% after the earnings release, as investors shrugged off the disappointing figures in anticipation of the company’s forthcoming artificial intelligence (AI) offerings. Net profit for the quarter stood at $23.64 billion (£18.85 billion), a modest 2% decline from the same per ..read more

InterContinental Hotels Group (LSE: IHG) has reported a 2.6% year-over-year increase in revenue per available room (RevPAR) for Q1 2024, driven by an 8.9% surge in the Europe, Middle East, Asia & Africa (EMEAA) region. While the Americas saw a marginal 0.3% RevPAR dip due to “adverse calendar timing,” Greater China rose 2.5%. Globally, occupancy inched up 0.2 percentage points to 62% as IHG opened 46 hotels with around 6,300 rooms. Chief Executive Elie Maalouf lauded EMEAA’s “impressive” performance, anticipating China to benefit from rebounding international travel this year. Average dail ..read more

Coinbase reported a net income of $1.2 billion, or $4.84 per share, for the first quarter ended March 31, a stark reversal from its $79 million loss, or $0.34 per share, a year earlier. The crypto exchange’s fortunes turned following the introduction of the first U.S.-listed bitcoin exchange-traded funds (ETFs) in January. Coinbase shares slipped 2.5% in after-hours trading on Thursday, despite closing the regular session nearly 9% higher. The after-hours dip was fuelled by concerns that trading volumes will decrease based on Bitcoin’s downward movement. The crypto market has seen renewed inve ..read more

Gold prices hovered around $2,301 an ounce on Friday morning, as traders remained cautious ahead of the critical U.S. non-farm payrolls data release. The precious metal has endured a sharp decline from record highs over the past two weeks, with safe-haven demand drying up and pressure from U.S. interest rates resurfacing. Spot gold (XAU/USD) traded at $2,301.11 an ounce by 07:40 GMT, down nearly 1% for the week, marking its second consecutive weekly loss. The outlook for gold prices has been dampened by the prospect of U.S. rates remaining elevated for an extended period. The highly anticipate ..read more

Bitcoin (BTC) has found temporary footing at $57,775, halting a nine-day decline triggered by a mixture of profit-taking and investor jitters ahead of the Federal Reserve’s policy decision. The Fed left interest rates unchanged on Wednesday, but Chair Jerome Powell’s comments regarding inflation stalled hopes for an immediate rate cut. This mixed message followed Bitcoin’s worst monthly performance in April since late 2022, with the price falling nearly 16% as investors booked profits after record highs above $70,000. Despite the recent decline, Bitcoin remains up 35% year-to-date and has doub ..read more

London’s blue-chip index gained ground on Thursday, boosted by strong earnings from energy giant Shell and emerging markets lender Standard Chartered, as well as the U.S. Federal Reserve’s signal that it won’t raise interest rates further. The FTSE 100 rose 0.4% to 8,145.75 points at the open, nearing its record high of 8,199.95 hit earlier this week. Shell shares climbed 1.4% after reporting a better-than-expected Q1 profit of $7.7 billion, aided by robust oil trading and higher refining margins. Standard Chartered surged 6.9%, leading FTSE 100 gainers, as the bank posted a 5.5% jump in Q1 pr ..read more