TBC Q2 net profits up 5pc, Capita extends ScottishPower partnership
By Iain Gilbert
Date: Friday 08 Aug 2025
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open just 3.8 points higher ahead of the bell on Friday after wrapping up the previous session 0.69% points lower at 9,100.77.
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Georgian bank TBC reported a 23% increase in second quarter operating income to GEL 835m (£230.58m), while net profits rose 5% to GEL 346m (£95.54m), driven by strong net interest income and an increased loan book.
Professional services firm Capita said on Friday that its Contact Centre subdivision has secured a three-year extension to its partnership with ScottishPower for an undisclosed sum. As part of the extension, services will transition to Capita's flagship delivery hub at Mutual Park in Cape Town - its largest global site.
NEWSPAPER ROUND-UP
The chancellor and prime minister will begin to prepare the ground for tax rises and reforms from September as part of a strategy to prepare the country for a difficult budget that could be held in November, the Guardian has been told. Although Treasury sources have insisted Rachel Reeves will stick to her pledge not to raise income tax, national insurance or VAT, senior Whitehall sources said that she and Keir Starmer had begun a series of meetings to thrash out the shape of the budget. - Guardian
The government is pushing ahead with a plan to offer those who live near new electricity pylons a discount of £2,500 from their energy bills over the next 10 years to ease the backlash against its clean power plans. Thousands of households within half a kilometre of new or upgraded electricity infrastructure could each receive up to £250 off their annual energy bill from next year to help speed up the rollout of infrastructure critical to the government's targets. - Guardian
A German offshore wind auction has received no bids after developers baulked at the low subsidies, just as Ed Miliband prepares to offer lucrative taxpayer support in Britain to avoid a similar flop. The Federal Network Agency offered up plots in two areas of the North Sea, which authorities were hoping could host wind farms that would have opened in the early 2030s. - Telegraph
TalkTalk has revealed losses of nearly £500m after Sir Charles Dunstone, its founder, was forced to call in its second bailout in a year. The troubled broadband provider said in newly published accounts that there was "material uncertainty" about its liquidity and ability to comply with debt covenants ahead of receiving a £100m lifeline last month. - Telegraph
President Trump has demanded the immediate resignation of Lip-Bu Tan, the head of Intel, over concerns about his extensive investments in Chinese firms, just four months after he took charge of the struggling chipmaker. "The CEO of Intel is highly CONFLICTED and must resign, immediately," Trump posted on Truth Social, his media platform, on Thursday. "There is no other solution to this problem." - The Times
US CLOSE
Major indices delivered a mixed performance on Thursday after Donald Trump's newly announced chip tariffs included broad exemptions.
At the close, the Dow Jones Industrial Average was down 0.51% at 43,968.64, and the S&P 500 shed 0.08% to 6,340.00, while the Nasdaq Composite saw out the session 0.35% firmer at 21,242.70.
Reporting by Iain Gilbert at Sharecast.com
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