BUSINESS

FTSE CLOSE: Barratt shrugs off Brexit pressures; Interserve agrees rescue deal to slash debt pile


FTSE CLOSE: Interserve agrees rescue deal to slash debt mountain; Housebuilder Barratt shrugs off Brexit pressures; Crackdown on hotel booking sites

  • Barratt said half year profits and sales increased thanks in part to Help to Buy
  • Outsourcer Interserve has agreed a debt for equity swap with its lenders 
  • The competition watchdog has cracked down on ‘misleading’ booking sites 

Barratt Developments, the country’s largest housebuilder, has revealed a rise in half-year sales and profits as it continues to shrug off the Brexit pressures hitting the wider property market.   

Outsourcing giant Interserve has agreed a debt for equity swap with its lenders as part of plans to cut its near-£650million debt mountain. 

And hotel booking sites like Expedia, Booking.com, Hotels.com and trivago will be forced to change the way they operate, following a probe by the competition watchdog. 

The FTSE 100 has taken a dip into the red in early trading, down 0.3 per cent at 7,160.13

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