BUSINESS LIVE: Entain Faces £585m HMRC Charge

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The FTSE 100 is up 0.1 per cent in early trading. Among the companies with reports and trading updates today are Entain, Deliveroo, Persimmon, Derwent London, Savills, Hostelworld, Watches of Switzerland and Capita.
Read the Thursday 10 August Business Live blog below.

09:05Persimmon profit slumps as rate rise rattles housebuilderPersimmon saw its pre-tax profit fall by 66 per cent to £151million in the first half as higher mortgage rates continue to bruise the housing sector.
The housebuilder's revenue slumped 29.5 per cent Persimmon's revenue slumped 29.5 per cent to £1.19billion over the period and new home completions fell 36 per cent to 4,249.

First-time buyer completions also fell.
08:24I was steeled for battle but bravo to Booking.com for customer serviceUnfortunately, it's part of the job we do at This is Money that means our stories often focus on bad customer service.
By the time readers come to us for help, they've uAs well as holding companies to account, we also try to give praise where it's due, so I should share this tale of good customer service, says SIMON LAMBERT.
08:03Disney posts rare loss of $460million in the second quarterDisney is raising the prices of its streaming services Disney+ and Hulu by as much as 27 percent after a series of woke film remakes disappointed at the box office - and visits to Walt Disney World in Florida declined amid the company's war with Governor Ron DeSantis.
Customers with Disney+ will see their monthly costs for the ad-free service rise by 27Disney on Wednesday announced its second quarter results, with a rare loss.

Bob Iger, the CEO, said Disney is undergoing an 'unprecedented transformation.'
07:39Chinese boom is turning to bust as economy slips into deflationChina has slipped into deflation, raising concerns that a slowdown in the world's second-largest economy will affect the UK and elsewhere.
Official figures showed consumer prices in China fell 0.3 per ceFigures showed consumer prices in China fell by 0.3% year-on-year last month, down from zero back in June and the first fall since February 2021.
07:24Entain's £585m bribery charge 'highlights why governance is so important'Matt Britzman, equity analyst at Hargreaves Lansdown:
'Let's address the elephant in the room first, Entain's set aside £585m today in preparation for a settlement over the bribery investigation that's been lingering in the background.


'The business in question was sold over 6 years ago by a former management team, so drawing a line under this and moving on is something the new team, and investors, have been keen to do.
But nonetheless, this entire set of events highlights why governance is so important and shines a spotlight back on a sector that's come under scrutiny plenty of times in the past.
'Back to the day to day, punters are continuing to allocate a portion of their dwindling disposable income to one of Entain's host of big branded outfits, from Ladbrokes to Coral.
'There are headwinds though, tighter affordability measures in the UK aiming to keep users from splashing all their hard-earned cash away are keeping a lid on things, as is the ongoing environment in Germany where regulation is poorly enforced.'
07:21Rio Tinto boss Jakob Stausholm in tearful apology over bullying claimsRio Tinto's chief executive broke into tears as he apologised to two whistleblowers who spent years raising concerns about misconduct at the company, according to a report seen by the Mail.
Jakob Stausholm, who has led the company since 2021, reportedly said that no one ‘ever deserves' to be victimised and ‘financially ruined' the way Dr Maurice Duffy, a longRio chief exec Jakob Stausholm (pictured) reportedly said no one ever deserves to be victimised and 'financially ruined'.
07:14Italy's banks bounce back after government U-turn on its surprise windfall tax

Italy's banking sector mounted a recovery after the country's government performed a U-turn on its surprise windfall tax.
Their shares tumbled on Tuesday when they were blindsided by a one-off 40 per cent levy on banking profits imposed in response to a surge in earnings caused by higher interest rates.
But following the market meltdown Rome's government, headed by Giorgia Meloni Rome's government, headed by Giorgia Meloni (pictured), changed tack by announcing the banks would pay no more than 0.1% of their assets.
07:13Persimmon profits plummet Housebuilder Persimmon's profits plummeted by 65 per cent in the first half as the housing sector grappled with subdued demand in the wake of high mortgage rates.
The FTSE 100 firm's underlying operating profit for the six months ended 30 June was £152.2million.
07:07Deliveroo ups profit guidance despite falling salesDeliveroo has upgraded its full-year earnings guidance despite total orders number falling 6 per cent in the first half.
The company expects to post adjusted earnings before interest, tax, depreciation and amortisation of £60million to £80million for the year, up from its previous £20million to £50million forecast.
07:04Nat Rothschild partners up with Tesla to become US electric car charging partner

The industrial manufacturer headed by Nat Rothschild, the prominent financier, has been picked as Tesla's electric car charging partner in the US.
Volex, which employs 8,000 people in 22 countries, will supplyVolex, which employs 8,000 people in 22 countries, will supply connectors to Tesla's electric vehicle charging points in the US.
06:57Entain sets aside £585m to settle HMRC bribery probeEntain has taken a £585million provision for новости a potential settlement following a bribery investigation by HM Revenue & Customs.
The investigation included a review of the gambling firm's former Turkey-facing business, which it sold six years ago and where HMRC have probed potential historical misconduct involving former third-party suppliers and ex-employees of the group.
The update overshadowed solid first-half performance by the gambling firm, which told investors it now expects full-year core pEntain has been in talks over a deferred prosecution agreement with the Crown Prosecution Service and said it was likely to be able to agree on a resolution.