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M&Co slashes stores and jobs as retail cuts deepen
M&Co, one of Scotland's largest family-owned retailers, is closing 47 stores and cutting 380 jobs in a restructuring designed to safeguard its future against Covid-19 disruption.
Berenberg raises target price on Keywords Studios
Analysts at Berenberg raised their target price on IT services management group Keywords Studios on Wednesday from 1,700. 0p to 2,250. 0p after the group's first-half numbers came in ahead of expectations amid an improving outlook.
Europe midday: Miners at three-month highs as gold and silver break higher
Stocks on the Continent are holding higher as miners' shares push to three-month highs and thanks to positive corporate updates and some better-than-expected economic data.
Europe open: Stocks rise alongside fresh record high for gold
Stocks in Europe were moving higher on Wednesday, helped by a rally for beaten down travel and leisure names, positive corporate results and some better-than-expected economic data.
US pre-open: Futures point to modest gains ahead of data onslaught
Wall Street futures were pointing to some early gains ahead of the bell on Wednesday as market participants looked to Washington for news on another Covid-19 stimulus package and awaited a slew of data points scheduled for later in the day.
UK services PMI returns to growth but employment a weak spot
The UK services sector grew in July at its fastest pace in five years as the coronavirus lockdown eased, although employment was a weak spot, according to data released on Wednesday.
London midday: Stocks extend gains on stimulus hopes
London stocks had extended gains by midday on Wednesday amid expectations of further coronavirus stimulus in the US, as gold prices hit a new high.
BofA sees gold hitting $3,000/oz., silver at $50/oz.
Strategists at Bank of America hiked their 18-month target for gold futures from $2,000/oz. to $3,000/oz. as governments continue to act to mend the damage from Covid-19, backstopped by central banks.
Metro Bank posts heavy loss on Covid bad debt provision
Metro Bank set aside £112m for coronavirus-related credit losses as it swung to a half-year pre-tax loss.
William Hill to shut 119 UK shops as Covid shutdown hits profits
Bookmaker William Hill reported an underlying first-half loss as revenue slumped following the cancellation of sporting events due to the coronavirus pandemic and announced 119 UK shops would not reopen post Covid-19 lockdown.
Virgin Atlantic files for bankruptcy protection in US
Virgin Atlantic declared itself bankrupt as it sought protection from creditors in the US, according to a court filing in New York on Tuesday.
Gold breaches $2,000 an ounce for first time
Gold prices have hit a hit fresh record high as investors continue to look for a safe place to park their cash.
ECSC swings to underlying profit despite slight dip in revenues
Cybersecurity group ECSC swung to a profit in the six months ended 30 June despite posting a slight dip in group revenues.
Eurozone retail sales rise but undershoot forecasts
Eurozone retail sales increased 5. 7% in June, short of market expectations, as trading rose strongly in Spain and Italy but declined in Germany.
Ethernity inks new contract with existing OEM customer
Networking processing technology group Ethernity Networks said on Wednesday that it had signed a new contract with an existing St Petersburg-based original equipment manufacturer to upgrade an existing hardware platform with new field-programmable gate arrays firmware.
UK new car registrations rise for the first time this year
UK new car registrations rose for the first time this year in July, by 11. 3%, according to figures published on Wednesday by the Society of Motor Manufacturers and Traders (SMMT).
Asia report: Markets finish mixed as China services growth slows
Markets in Asia finished in a mixed state on Wednesday, as investors kept their wallets closed awaiting news of a Covid-19 stimulus deal stateside, while fresh data showed a slowing in the expansion for China’s services sector in July.
Hill & Smith resumes dividends, eyes ramp-up in public sector spend on infrastructure
Hill & Smith resumed dividend payments and sounded a confident note on the outlook despite a sharp drop in half-year profits.
Hipgnosis adds Blondie to catalogue of hit songs
Hipgnosis Songs Fund has bought the rights to almost 200 songs written by Debbie Harry and Chris Stein of Blondie including worldwide hits such as Dreaming and Rapture.
WHSmith to cut up to 1,500 jobs as pandemic dents sales
Retailer WHSmith said on Wednesday that it could cut as many as 1,500 jobs as it restructures its UK operations after the coronavirus pandemic dented sales.