Profit warnings flash red and markets brace for further rate hikes

On this week’s Money and Markets podcast Dan Coatsworth and Danni Hewson discuss the barrage of bad news that’s been troubling markets even before US and UK central banks hiked rates. Profit warnings have been coming in thick and fast including Hilton Foods, The Hut Group, DFS and the biggie – bellwether stock FedEx, so what can investors expect as we head into another earnings season? They explore the good news for UK businesses that’s come in the form of the government’s six-month energy price cap out today plus they ask if travel stocks have finally turned a corner after an upbeat update from TUI. With one of the most pressing issues being discussed in boardrooms today being how to save money, Dan catches up with Jonathan Maxwell, the manager of the SDCL Energy Efficiency Income Trust. He runs an investment trust that puts money into projects that not only save companies a few quid, but also help the environment. With leaks about the new chancellors “mini-budget” coming in thick and fast, Danni looks at the boost house builders like Persimmon and Redrow have been getting from speculation that there could be intervention on stamp duty. And as one of the city’s most controversial characters backing away from the board of Frasers Group, Danni and Dan discuss the career and legacy of Sports Direct Founder Mike Ashley.