On­line re­tail­ers accused of ‘blind eye’ to tax

The Press and Journal (Aberdeenshire) - - BUSINESS -

Ster­ling surged to a fresh one-year high against the US dol­lar yes­ter­day, while blue-chip stocks slumped af­ter the Bank of Eng­land hinted it may raise in­ter­est rates in the “com­ing months”.

The pound was up 1.4% ver­sus the green­back at 1.33, and 1.5% higher against the euro at 1.12.

A stronger pound took its toll on the FTSE 100 In­dex, which closed down 84.31 points to 7,295.39.

High-street retailer Next was in the as­cen­dancy, up £5.77 to £49.94, af­ter it upped its earn­ings out­look af­ter “en­cour­ag­ing” trad­ing.

Broad­caster Sky drifted lower, 3.5p to 928.5p, af­ter Cul­ture Sec­re­tary Karen Bradley con­firmed 21st Cen­tury Fox’s £11.7bil­lion takeover bid is be­ing re­ferred to the com­pe­ti­tion watch­dog for an in-depth probe.

The Foot­sie’s big­gest fall­ers in­cluded Mor­risons down 12.6p to 232.4p, Ex­pe­rian off 74p at £14.59, Tay­lor Wim­pey down 7.1p to 186.5p and Rio Tinto off 124.5p at £35.

BY BEN WOODS

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