The FTSE 100 Live update reveals that Standard Chartered has released its latest results, with blue-chips showing stability in the market. This development comes amidst growing optimism about the economy, although concerns remain about the potential slowdown in borrowing costs in the latter part of 2024.
Lloyds Bank has reported an impressive profit of £7.5 billion, but it has also taken a hit of £450 million due to misselling of car loans. Meanwhile, the new CEO of Rolls-Royce is reaping the rewards of the company’s overhaul, with profits more than doubling to over £1.6 billion.
In other news, WPP is looking to leverage AI technology and implement cost-cutting measures after a sharp decline in spending by US tech giants impacted its profits. Gibson guitars is set to open a flagship store in Fitzrovia – its first outside the US – featuring a range of 130 different guitars.
Freddie’s Flowers has managed to reduce its losses after downsizing its workforce, while the Nikkei index has finally reached an all-time high. On the other hand, Hays, a recruitment firm, is facing tough decisions as reduced hiring activities are affecting its profits.
Overall, the business landscape is experiencing a mix of challenges and opportunities, with companies navigating through various market conditions to drive growth and success.
