FTSE LIVE: Flybe airline in rescue talks; Hobbycraft reports strong Xmas sales
FTSE LIVE: Flybe airline in rescue talks; Hobbycraft reports strong Christmas sales; Plunge in UK corporate takeovers
Struggling airline Flybe is seeking emergency funding to prevent it from collapsing. More than 2,000 jobs are at risk at the Exeter-based airline, which handles half of UK domestic flights outside London, and received a bailout less than a year ago.
Arts and crafts store Hobbycraft saw sales jump 9 per cent in the Christmas period. The Dorset firm said this was partly driven by more customers looking to buy customised Christmas decorations and recyclable Christmas gift tags.
The value of takeovers by UK companies fell by a quarter last year. Brexit uncertainty has been blamed for the fall in takeover deals, which reached £134.7billion in 2019, according to data provider Mergermarket.