Liberty House to bid for Tata Steel plants

Metals group Liberty House will submit a letter of intent to buy the British steel plants put up for sale by Tata Steel, possibly saving 11,000 jobs.

This will be the first bid since Tata announced their intention to sell.

A spokeswoman confirmed that the Group has put in “place a strong internal transaction steering committee and panel of leading external advisers to take the bid forward.”

Just Eat shares up over 8 percent

Shares in takeaway site Just Eat have risen over 8 percent this morning as the group upgraded their full year guidance.

Highlights from the announcement showed order numbers for Q1 rising 57 percent year-on-year to 31.5 million, with its full year revenue expectation increased to £358 million. Underlying EBITDA for the full year is now expected to be between £102-104 million, up from the previous guidance of £98-100 million.

CEO David Buttress added:

“We have had an excellent start to 2016 and I am delighted with the Company’s performance and the momentum in the business”.

The company’s shares (LON:JE) are currently up 9.21 percent at 418.82 (0933GMT).

Lufthansa slows growth after reporting loss, shares fall

Lufthansa has announced plans to slow the pace of growth plans year, after being hit by stiff competition from low-cost airlines.

The German airline reported a net loss of €8m in the three months to the end of March – a sharp fall from the €425 million profit reported a year earlier.

Seat growth will now be at 6 percent this year, instead of the 6.6 percent initially planned.

The announcement comes just days after British Airways owner IAG also decided to slow the roll-out of growth plans, after being hit by a lack of demand after European terror attacks.

Shares have fallen 6.7 percent on the news this morning, at 12.80 (0937GMT).

03/05/2016