
Business live: Trump to send out tariff letters at noon
The company said it has 'held constructive discussions with Corpay, which are advancing, and believes that it is in the best interests of shareholders to continue this engagement'.
The Takeover Panel has consented to moving the deadline from today until July 24.
Corpay is a S&P 500 company. It has been in discussion with Alpha about a possible cash deal since May.
PHP: The healthcare real estate investment trust has reported 'improving rental growth and stabilisation in yields', which it claimed underpinned valuation growth and was further evidence of an inflexion point in the cycle.
Last month, the board of PHP recommended that shareholders accept a cash and share takeover bid from rival Assura, which then valued the business at £1.79 billion, dropping its previous recommendation for a rival bid from KKR and Stonepeak, the American private equity firms.
Shell: In a brief trading update before publishing second-quarter results at the end of the month, the oil company said that 'trading and optimisation' revenues are expected to be significantly lower than in the first three months of the year.
Plus500: The online trading group has reported a 4 per cent rise in revenue to $415.1 million in the six months to the end of June. The FTSE 250 group said it would announce new shareholder returns, comprising dividends and share buybacks, alongside interim results in August.
The UK housing market was steady in June, with house price growth flat compared to a dip of 0.3 per cent in May, figures from mortgage lender Halifax showed.
The average property price is now £296,665 compared to £296,782 last month. The annual rate of growth edged down to 2.5 per cent from 2.6 per cent in May.
Amanda Bryden, Halifax's head of mortgages, said: 'The market's resilience continues to stand out and, after a brief slowdown following the spring stamp duty changes, mortgage approvals and property transactions have both picked up, with more buyers returning to the market
Halifax said first-time buyer numbers have returned to pre-stamp duty change levels.
Last week, rival mortgage lender Nationwide reported that house prices fell by the most in more than two years in June as an increase in stamp duty costs dampened demand. Property prices fell by 0.8 per cent month-on-month to £271,619. The annual rate of house price growth slowed to 2.1 per cent in June, from 3.5 per cent a month earlier.
US President Donald Trump has announced that tariff letters or deals with multiple countries will be delivered later today.He said on his social media platform Truth Social: 'I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter! DONALD J. TRUMP, President of The United States of America.'Stock markets slipped in Asia amid concerns about the lack of detail. The dollar weakened against a basket of currencies.
US Treasury Secretary Scott Bessent told CNN yesterday that Trump was going to be sending letters to some trading partners saying that 'if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level'.
The president announced a 10 per cent base tariff rate on most countries in April and higher 'reciprocal' rates ranging up to 50 per cent, with an original deadline of this Wednesday.
However, he also said levies could range in value from 'maybe 60 per cent or 70 per cent', and threatened an extra 10 per cent on countries aligning themselves with the 'anti-American policies' of the BRICS group of Brazil, Russia, India and China.
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31 minutes ago
- Reuters
BMW posts modest Q2 sales increase on growing demand in Europe, US resilience
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The Sun
35 minutes ago
- The Sun
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The Independent
36 minutes ago
- The Independent
Kemi Badenoch to call for tougher restrictions on benefits
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