FTSE LIVE: Do-or-die vote for Philip Green’s Arcadia trend empire looms; Reckitt Benckiser names new boss; Six day market rally involves an finish
- Today, landlords will collect to vote on a rescue deal for trend group Arcadia
- Europe markets open decrease following a powerful rally as commerce tensions linger
- Reckitt Benckiser has employed Laxman Narasimhan from Pepsico as its new chief
After a six-day rally, US fairness markets gave up early good points on Tuesday to only about finish in detrimental territory. This set the tone for the European open on Wednesday.
In focus in the present day is Philip Green’s trend empire, Arcadia, which is on a knife edge forward of a pivotal creditor vote later this afternoon.
If landlords resolve to dam a CVA plan that has been put ahead by the Topshop and Dorothy Perkins proprietor, the High Street big might tumble into administration, placing 560 retailers and 18,000 jobs in danger.
On one other massive day within the retail sector, the FTSE 100 dropped zero.four per cent on the bell to 7,366