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Jefferies cuts target for Lloyds, says income profile ill-suited for current market
Analysts at Jefferies cut their target price for shares of Lloyds from 47. 0p to 42. 0p, arguing that its revenue profile was ill-suited to current market conditions - but kept their recommendation at a 'buy'.
Gusbourne distribution hit by Covid-19 but season starts well
Gusbourne said the Covid-19 crisis had affected its distribution channels but warm spring weather had given the English sparkling winemaker a good start to the growing season.
RUA announces first surgical implant of 'Elast-Eon' vascular graft
Medical devices company RUA Life Sciences announced the first surgical implant of an ‘Elast-Eon’ sealed vascular graft on Thursday, as part of its prototype evaluation prior to design freeze.
German payments processor Wirecard files for insolvency
German payments processor Wirecard said on Thursday that it was filing an application with the district court of Munich to open insolvency proceedings after announcing a €1. 9bn hole in its accounts last week.
Europe midday: Stocks turn higher after ECB launches euro repo facilities
Stocks on the Continent clambered higher after the European Central Bank moved to backstop demand for euros from other central banks as a precautionary measure.
Canaccord ups rating on Crest Nicholson to 'buy'
Canaccord Genuity has upped its recommendation on Crest Nicholson to ‘buy’ following its interim results.
Royal Mail to axe 2,000 managers in bid to cut costs
Royal Mail said it would cut 2,000 manager jobs in a bid to save £130m amid the coronavirus crisis as full year profits slumped by a quarter.
Young & Co's raises £88m through equity placing
Young & Co’s has raised more than £88. 0m following an equity placing, the brewing and pub company confirmed on Thursday.
Transense Technologies grants exclusive iTrack licence to Bridgestone
Sensor systems provider Transense Technologies granted an exclusive worldwide licence for its iTrack technology to tire and rubber manufacturer Bridgestone on Thursday, transferring the operational business and trading assets relating to the system to the Japanese company.
London midday: Stocks pare losses; Royal Mail slides after job cuts announcement
London stocks had pared losses by midday on Thursday but remained just a touch lower amid growing concerns about a rise in new coronavirus infections in the US.
Non-Standard Finance warns of going concern risks
Doorstep lender Non-Standard Finance warned of an uncertain future on Thursday, after a “difficult and disappointing" 18 months undermined its existence as a going concern and caused final losses to balloon.
US pre-open: Stocks to edge lower amid Covid-19 concerns
US futures pointed to a slightly weaker open on Wall Street on Thursday amid ongoing concerns about a rise in new coronavirus infections.
Qantas plans 6000 job cuts, $1.9bn raising as part of recovery plan
Qantas is planning to cut 6,000 jobs and raise AUD 1. 9bn as part of its three-year recovery plan as it struggles to cope with the ongoing slowdown in air travel demand in the wake of the Covid-19 pandemic.
Rosslyn Data Technologies renews several client contracts
Rosslyn Data Technologies announced on Thursday that it has recently renewed a number of client contracts, with extended durations, which it said would help underpin its current expectations for annual recurring revenue in future periods.
ReNeuron Group inks research evaluation deal with US firm
Cell-based therapeutics company ReNeuron Group announced on Thursday that it has signed a new research evaluation agreement with a major United States biotechnology company, in connection with the use of its proprietary exosomes for the delivery of novel gene silencing therapeutics.
United Carpets focusing on cash conservation as stores reopen
Specialist carpet and floor covering retailer United Carpets Group updated the market on its trading on Thursday, reporting that its store network had now completely reopened, with new retail protocols in place to maintain social distancing, alongside increased sanitizing measures to protect customers and staff.
Retailers gloomy after steep sales drop - CBI
Retailers reported another steep drop in sales in June and remained pessimistic about the near-term outlook with reopened shops expecting poor sales, a Confederation of British Industry survey showed.
Jefferies downgrades InterContinental Hotels to 'hold'
Jefferies downgraded its stance on shares of InterContinental Hotels to ‘hold’ from ‘buy’ on Thursday and cut the price target to 4,100p from 4,400p as it took a look at the hotels sector.
Asia report: Markets fall as IMF slashes global forecasts
Markets in Asia finished weaker on Thursday, as investors digested the latest economic forecasts from the International Monetary Fund, which took the secateurs to its global gross domestic product expectations once more.
RBC raises Centamin to 'outperform', lowers Hochschild to 'sector perform'
Analysts at RBC Capital Markets upgraded gold miner Centamin to 'outperform' from 'sector perform' on Thursday, stating that a shift in management would likely lower the risk of a move into new projects in West Africa.