Where will DMGT find £500mn to pay for the Telegraph?

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Rolling coverage of the latest economic and financial news Reeves expected to reveal cut in growth forecasts for next five years in budget Shares in DIY chain Kingfisher have jumped by over 5% at the start of trading, after it raised its earnings forecasts. Kingfisher, which operates B&Q and Screwfix in the UK and Ireland, and DIY chains abroad including in France, Spain, Poland and Romania, has upgraded its full year adjusted profit before tax guidance to £540m-£570m, up from £480m-£540m previously. “We delivered another quarter of high quality, volume-led growth, driven by our Group strategic initiatives in e-commerce…