Top 5 stories news stories to read today

Here's our pick of the top news stories from the day

Top 5 news stories today - Carpetright considers sale to repay debt, 80% plunge in profits at Mike Ashley’s holding company, Samsung profits dive 56%, Consumer confidence drops as Brexit delays, Apple hails revenue rise.

1. Carpetright considers sale to repay debt

Carpetright is in talks about a potential sale to its biggest shareholder Meditor, as it finds ways to repay debt.

Meditor has offered to buy the carpet and DIY retailer to avoid the company collapsing due to debt.

2. 80% plunge in profits at Mike Ashley’s holding company

Mike Ashley’s holding company has endured a full-year profit fall of almost 80 per cent, according to financial figures revealed today.

80% plunge in profits at Mike Ashley's holding companyMash Holdings, the company which controls Ashley’s stake in Sports Direct and Newcastle United, said profit before tax reached £20.9 million in the year ending April 2018.

3. Samsung profits dive 56% despite strong Galaxy Note 10 sales

Samsung Electronics has seen its operating profit divebomb 56 per cent year-on-year in its fourth quarterly drop in a row.

Its fourth quarter results spelled yet more trouble for the South Korean retailer, which has been hit hard by a sharp decrease in memory chip prices, which represent the majority of its income, this year.

4. Consumer confidence drops as “big black Brexit cloud” strikes

Consumer confidence has dropped in the month of October as political and Brexit uncertainty continued to affect the high street.

Consumer confidence was down two points to -14 in October – when all five measures of sentiment decreased, according to the GfK Consumer Confidence Index.

“In the face of continued Brexit uncertainty, the overall index score fell this month,” GfK client strategy director Joe Staton said.

5. Apple hails revenue rise despite falling iPhone and Mac sales

Apple’s share price has jumped three per cent today after it beat analyst expectations and posted record earnings per share for its fourth quarter.

In the three months to September 30, Apple saw its revenue jump two per cent year-on-year to $64 billion (£49.4 billion), despite iPhone and Mac sales continuing to decline.

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