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Campari could move Aperol production to US to avoid tariffs
Campari may shift production of its iconic Aperol spritz to the US because of the ongoing trade tensions with Washington.
Johnson proposes FTA with EU and alternative to Irish Backstop
The government's proposals to Brussels for a Free Trade Agreement and the creation of a single regulatory area on the island of Ireland as an alternative to the Irish Backstop were unlikely to 'cut the mustard', analysts said.
Europe close: Stocks reel amid growth fears
European stocks were sharply lower on Wednesday, as investors digested weak manufacturing data from both sides of the Atlantic and slashed expectations for German GDP growth.
Thursday preview: US ISM services PMI, Ted Baker in the spotlight
The spotlight on Thursday will shift towards the latest services sectors Purchasing Managers Indices on both sides of the Atlantic, with investors likely keen to assess to what extent economic weakness in manufacturing might be filtering into the remainder of the economy, whether in the US or in the euro area.
Peel Hunt cuts rating on M&S to 'sell', downgrades numbers
Peel Hunt has “thrown in the towel” on Marks & Spencer, slashing its rating and warning that a hoped-for recovery might never materialise.
London close: Stocks pummeled by global growth concerns
London stocks suffered very sharp declines on Wednesday amid ongoing worries about a global slowdown, even as investors digested Prime Minister Boris Johnson's proposal to Brussels for a free trade area and as regards the Irish border, which analysts said were not likely to fly with the European Union as they would give Northern Ireland a competitive advantage over the bloc.
Director dealings: Enquest's new chairman takes up stake
Enquest revealed on Wednesday that new chairman Martin Houston had acquired 500,000 ordinary shares in the London listed petroleum exploration and production company.
Seeing Machines to develop training technology with Alaska Airlines
Seeing Machines on Wednesday announced a collaboration with Alaska Airlines to develop advanced gaze tracking technology and understand how pilots scan and monitor instruments during flights.
Broker tips: Ferguson, Marks & Spencer
Analysts at Canaccord Genuity raised their price target on plumbing and heating products distributor Ferguson from 6,125p to 6,270p on Wednesday as the group enters the last phase of its transformation into a solely US-focused group.
US Navy selects Serco for ID/IQ contract
The US Navy's Naval Information Warfare Systems Command selected Serco alongside seven other firms as an awardee for an Indefinite Delivery, Indefinite Quantity (ID/IQ) multiple award contract.
US open: Wall Street losses accelerate as recession fears abound
Wall Street's main market gauges opened markedly lower on Wednesday after some dismal manufacturing figures from the previous session led to fears of a global recession before the end of 2019.
FTSE 250 movers: Riverstone falls, Qinetiq climbs
London's FTSE 250 was down 1. 27% at 19,620. 45 in afternoon trade on Wednesday, with Riverstone Energy leading the index lower.
WTO rules in favour of US to impose $7.5bn on tariffs on EU over Airbus spat
The WTO ruled on the value of trade countermeasures that the United States can impose on European goods to counterbalance the unfair subsidies granted to Airbus and authorised nearly $7. 5bn worth of annual punitive measures against the EU.
FTSE 100 movers: Hargreaves slumps; Flutter Entertainment rallies on merger
London’s FTSE 100 was down 3. 1% at 7,134. 07 in afternoon trade on Wednesday as global slowdown fears rocked markets.
Gender pay gap widens at UK investment management firms
The average gender pay gap in the UK’s fund management sector has increased by 0. 8% to 31% in a two year period.
Canaccord raises price target on Ferguson as US transformation continues
Analysts at Canaccord Genuity raised their price target on plumbing and heating products distributor Ferguson from 6,125p to 6,270p on Wednesday as the group enters the last phase of its transformation into a solely US-focused group.
Faron Pharmaceuticals hits bump in road for Traumakine manufacturing
Clinical-stage biopharmaceutical company Faron Pharmaceuticals announced on Wednesday that, further to its update in its interim results in relation to the active pharmaceutical ingredient (API) manufacturing process for ‘Traumakine’, Rentschler Biopharma has sent Faron a letter in which it terminated the agreement concerning the API manufacturing.
Iran oil minister claims Saudi counterpart is a friend and reduces Aramco attack tensions
Iranian oil minister Bijan Zanganeh said his Saudi counterpart Prince Abdulaziz bin Salman is a “friend” brushing off the heightened tensions between Iran and Saudi in the wake of the cruise missile and drone attacks against Saudi Aramco facilities in September.
InfraStrata remains on track with Islandmagee Gas Storage Project
Strategic infrastructure investment investor InfraStrata announced on Wednesday that the remaining milestones scheduled for September at the Islandmagee Gas Storage Project in Northern Ireland had now been completed.
Equals Group launches app-based loan product for SMEs
Electronic banking and international payments provider Equals Group announced on Wednesday that its first loan product for small to medium enterprises, in partnership with Iwoca, was now live.