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Tuesday newspaper round-up: Ryanair, City real estate, energy prices
Rish Sunak is poised to usher in cuts worth £2bn for government departments tasked with meeting the Tories’ flagship “levelling up” agenda, despite planning for the biggest tax raid in a generation. The Institute for Fiscal Studies (IFS) said the chancellor was on track to lift the UK’s tax burden to the highest sustained level in peacetime with a package of manifesto-busting tax increases at this month’s budget and spending review. - Guardian.
Diversified Energy shares plummet on methane leaks report
Shares in Diversified Energy tumbled 21% on Tuesday, after it was reported that some of its aging gas wells were leaking methane.
FTSE 100 movers: Glaxo rallies on report; Entain in the red
London’s FTSE 100 was down 0. 3% at 7,122. 92 in afternoon trade on Tuesday.
YouGov delays FY preliminary results, acquires advertising firm Rezonence
Research and data analytics group YouGov said on Tuesday that due to "unforeseen circumstances" arising late in the audit process, it now requires additional time to finalise its full-year preliminary results.
French Connection interim losses narrow
French Connection reported a narrowing of its interim losses on Tuesday as store closures were offset by online and wholesale sales, as it announced the retirement of its chief executive.
US pre-open: Futures mostly flat, tech stocks boost Nasdaq
Wall Street futures were little changed ahead of the bell amid ongoing concerns regarding the economy and inflation.
Morgan Stanley hikes targets for European oil majors, highlights outlook for Shell
Morgan Stanley hiked its target prices for European oil majors' shares, telling clients that they were set to generate "high" levels of free cash flow, deleverage their balance sheets "fast" and in turn to increase their shareholder distributions.
ADM Energy reduces Aje project debt with latest lifting
Natural resources investment company ADM Energy announced the completion of the 16th lifting at the Aje Field, part of the OML 113 offshore Nigeria licence, on Tuesday.
London close: Stocks weaker as IMF cuts growth forecasts
London stocks closed in negative territory on Tuesday amid worries about inflation and Chinese property group Evergrande, after investors had the day to mull the latest UK jobs data.
Broker tips: Polymetal, Fevertree, Asos
Deutsche Bank initiated coverage of Polymetal on Tuesday with a 'hold' rating and 1,200. 0p price target.
Director dealings: Volex chairman ups stake via NR interest
Volex revealed on Tuesday that NR Holdings had acquired 60,000 ordinary shares in the AIM-listed electronic connectors manufacturer.
GSTechnologies shares surge on CEO appointment
Financial technology company GSTechnologies announced the appointment of its existing executive director Bai GuoJin, or ‘Jack Bai’, as its new chief executive officer on Tuesday, with immediate effect.
InnovaDerma ropes in Love Island star as 'Skinny Tan' ambassador
Beauty brand development company InnovaDerma announced the appointment of Instagram “influencer” Liberty Poole as a brand ambassador for its Skinny Tan products on Tuesday.
Cobra executes first phase of exploration programme at Wudinna
South Australia-focussed gold exploration company Cobra updated the market on its recent exploration activities at the Wudinna Gold Project on Tuesday, reporting that it had successfully executed the first phase of its 2021 exploration programme through an “extensive” geochemistry drilling programme using pathfinder chemistry.
Vistry CEO Fitzgerald to stay on past the end of 2022
Housebuilder Vistry said on Tuesday that chief executive officer Greg Fitzgerald will stay on beyond the end of 2022.
IMF cuts global growth forecast
The International Monetary Fund downgraded its forecasts for global growth on Tuesday as it cautioned that supply chain issues were denting growth.
US open: Stocks mixed as IMF cuts global growth forecasts
Wall Street trading began with mixed results on Tuesday after the International Monetary Fund cut its global growth forecast.
FTSE 250 movers: Britvic recovers some ground; Diversified Energy tumbles
London’s FTSE 250 was flat at 22,481. 46 in afternoon trade on Tuesday.
Gymshark and private equity backers eyeing stock market listing
Lifestyle apparel and accessories company Gymshark and its private equity backers are mulling a stock market listing just over twelve months after its £1. 0bn valuation.
Third-quarter revenues to fall 25% at American Airlines
American Airlines expects third-quarter revenues to fall 25%, the carrier said on Tuesday, less than previously forecast.