Sterling tumbled as Theresa May set down a timetable for her departure and setting up a leadership contest that may elect a hard line Brexiteer and increase the risk of Britain crashing out of the EU.

Bernard Arnault, Europe’s richest man, got another boost as LVMH shares hit a record, due to better-than-expected sales of Louis Vuitton handbags and leather goods.

Shell stepped closer to becoming the world’s biggest power company with an aggressive move into the UK retail market by offering one of the cheapest tariffs available.

French foods group Danone is to sell a €1.5bn stake in Japanese company Yakult in its latest initiative to boost shareholder returns.

By Eamon Quinn

General Electric’s new boss is dramatically reshaping the company and slashing the dividend as he looks to pull the manufacturing company out of one of the deepest slumps in its 125-year history. The moves failed to win over investors.

British inflation hit its joint highest level in more than five years in August, complicating the Bank of England’s job this week of explaining why it is not raising interest rates.

Mustard is the new hot thing as US foods giant McCormick agreed to pay a scorching $4.2bn (€3.6bn) for Reckitt Benckiser’s food business, home to brands including French’s mustard and Frank’s RedHot sauce.

Burberry gave a boost to new chief executive Marco Gobbetti only a week after he took the helm, saying rebounding sales in China are more than compensating for continued weakness in the US.

The dollar index touched its lowest point since early November, hurt by weaker than expected US housing data and concerns after political turmoil once more hit Washington.

Budget airline easyJet looks set to deepen half-year losses next week, as it grapples with Brexit-hit pound, costs linked to launching a new European base and drops in bookings to some cities following terrorist attacks.

Apple's stash of cash is growing - and so is the possibility that the world's most valuable company will use some of the money for a huge acquisition that will expand its empire beyond iPhones and other gadgets.

Shares plunged in Tullow Oil following the surprise announcement it was issuing a £607m (€695m) sales share at a vastly discounted price.

Shares in Adidas fell the most in four months as currency swings and in-store spending crimped profitability in the third quarter, even as the sports kit maker reported sales that met analysts’ estimates on sales in Europe, the US and China.

Crude oil prices advanced, extending the longest winning streak in more than a year, as US crude and petrol inventories declined.

Hermes International solidified its status as the luxury industry’s go-to label, proving that customers are willing to ignore growing economic uncertainty and spend thousands of dollars on must-have leather handbags.

Hermes International has reported first-quarter leather-goods sales that beat analysts’ estimates as the French luxury company boosted purse production and the aftershock of November’s Paris terror attacks eased.

European plane maker Airbus plans to cut production of its A380 super jumbo from 2017 as it struggles to revive sales of the world’s largest passenger jet, sources said.

LinkedIn’s shares plunged about 35% yesterday, wiping out nearly $9 billion (€8bn) of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations.

LVMH shares gained the most in a year after results beat estimates on demand for Louis Vuitton bags in Japan and Europe, providing some relief for a beleaguered luxury-goods industry.

The US economy expanded more than previously estimated in the second quarter of the year on stronger consumer spending and construction, backing the case for an interest rate rise before the end of the year.

Gold fell to a one-month low and trading volume declined as investors held off on making big moves before Federal Reserve policymakers meet next week.

Activist investor Worldview Capital Management has ignited a fresh war with Irish exploration firm Petroceltic, claiming the latter’s debt-raising plans put control of its chief asset at stake.

Lufthansa chief executive Carsten Spohr said the German airline needs a deeper overhaul after acknowledging the most expansive saving plan to date was swept away by higher costs and falling ticket prices.

UK chancellor of the exchequer George Osborne has a chance to bolster the re-election prospects of prime minister David Cameron next week when he announces his last budget before a knife-edge election.

Twitter’s efforts to improve user engagement and growth rates are taking longer than expected to gain traction, prompting a wave of rating and price target cuts on the stock.

The relief that greeted reports of a possible ceasefire in Ukraine faded on Wall Street, as a slide in Apple and other technology stocks tugged the US stock market to a small loss yesterday.

Eurozone economic confidence unexpectedly increased in July, led by industry and construction, even as price growth remained anaemic and geopolitical tensions threatened to undermine the currency bloc’s recovery.

EMC needs to convince investors that keeping the company together is worth more than the estimated $10bn (€7.4bn) that could be unlocked in a breakup.

Eurozone unemployment held at a record in November as policymakers struggled to bolster the recovery from its longest recession. The jobless rate remained at 12.1%, the European Union’s statistics office in Luxembourg said.

In a bad omen for the sale of Bord Gáis Energy, it has been reported that the New York-based fund Blackstone has been invited into the final round of bidding.

BlackBerry Ltd’s announcement that it will consider takeover bids followed almost a year of advisers unsuccessfully canvassing potential buyers in search of a deal, two people with knowledge of the matter said.

World equity markets sold off and the euro set new two-year lows against the dollar yesterday after reports that more indebted regions in Spain need financial aid fuelled fears that the country may need a bailout.

Struggling BlackBerry maker Research in Motion has warned it will have an operating loss in the current March-June quarter and said there will be significant layoffs this year.

STERLING fell sharply against the dollar yesterday after keenly anticipated growth data showed Britain had emerged from recession in the fourth quarter but at a much slower pace than expected.

IRISH and European stocks experienced their biggest fall in seven months yesterday as fears grew that failure by Dubai to repay $60 billion (€40bn) in debt could trigger the biggest sovereign default since Argentina in 2001.

African Diamonds, the Irish AIM and Botswana listed diamond company, has appointed RBC Capital Markets as its nominated adviser and broker with immediate effect.

Stocks closed narrowly mixed today after profit reports and forecasts from blue chip names like International Business Machines Corp and General Electric Co failed to impress Wall Street and sent investors searching for other catalysts to drive the markets higher.

Wall Street extended its decline today, dipping lower after the Labour Department said productivity was flat in the third quarter while wages rose nearly 4%.

Supermarket group Sainsbury has increased the risk in its pension fund in a move allowing it to lower contributions, it was reported today.

The Dow Jones industrial average closed down 92.59, or 0.9%, at 10,609.92.

Wall Street nudged higher to fresh 19-month highs today as a trio of economic reports – one on gross domestic product, the others on consumer sentiment and spending – provided investors with additional evidence of an improving economy.