Company News
Thursday broker round-up
Tullow Oil: RBC downgrades to Sector Perform with a target price of 275p.
RBS to shed 158 branches along with 400 jobs as digital banking rises
Royal Bank of Scotland Group and Natwest will see 158 branches close and shed 400 jobs as the bank blames a “dramatic shift” in banking practices.
China Africa Resources formal name change delayed
Shares fell in China Africa Resources on Thursday as the miner said there was a delay to its formal name change to Pembridge Resources.
Friday preview: Euro and US PMIs, Smiths Group results
Survey data on European and US services and manufacturing industries should give a good macroeconomic steer, while for UK corporate watchers Smiths Group is the biggest name reporting.
Atlantis Resources tidal power project close to generating 400MWh
Atlantis Resources’ tidal power generation project is nearing 400m megawatt per hour of energy generation in the first phase of development, the company said.
Small cap news round-up
Eddie Stobart Logistics has confirmed it plans to float on London's junior market next month to raise £130m to accelerate organic growth and make acquisitions.
Google promises policy review as more big spenders pull ads
Alphabet's biggest division Google promised a big push against its controversial advertising policies on Thursday, as big-spending firms on both sides of the Atlantic continued to pull their marketing from the web giant’s platform.
Coal of Africa COO resigns after insider trading fine
Coal of Africa’s chief operating officer Michiel Jakobus Brönn has resigned after being fined by the Financial Services Board of South Africa for insider trading.
Facebook begins to roll out fake news alert tool
Facebook began its push against the tide of fake news in earnest on Thursday, as the social media giant rolled out a third-party developed fact checking tool which would alert a user if shared content was ‘disputed’.
Eddie Stobart Logistics plans AIM float to accelerate growth
Eddie Stobart Logistics has confirmed it plans to float on London's junior market next month to raise £130m to accelerate organic growth and make acquisitions.
Gfinity signs HP as official partner of first esports tournament
Esports operator Gfinity announced OMEN by HP as its first official partner of the inaugural esports tournament, the Gfinity Elite Series, on Thursday.
Secure Trust Bank posts record total group profit
Secure Trust Bank announced a record total group profit after tax of £137. 5m for the year to 31 December on Thursday.
Results round-up: Next, Ted Baker, GVC, Kier Group
Clothes retailer Next reported underlying annual profits fell for the first time in eight years and warned 2017 will be "another tough year" due to a shift away from spending on clothing and a squeeze on UK wages.
Broker tips: Tullow Oil, Sainsbury's, Tesco, Standard Chartered
Analysts at RBC Capital Markets downgraded Tullow Oil on concerns about the oil and gas explorer's bid to shrink its debt burden through a rights issue.
Craneware wins sizeable contract extension from US hospital operator
Craneware which is specialises in software for healthcare billing, has won a “significant” contract extension from a US hospital operator.
Jaywing launches in Australia
UK data science-led marketing company Jaywing has launched its brand in Australia to fast-track local growth and expand its service offering.
Franchise Brands to buy drains specialist Metro Rod
Franchise Brands has struck a deal to buy drain clearance and maintenance service provider Metro Rod for £28m, which will be partly funded from a £20m discounted equity placing.
Berenberg downgrades Standard Chartered over restructuring concerns
London analysts at Berenberg bank downgraded Standard Chartered to a ‘hold’ rating based on the ongoing restructuring programme at the bank, as well as concerns about the need to restart its capital return.
Next profits shrink as pursuit of clothing trends hits sales
Clothes retailer Next reported underlying annual profits fell for the first time in eight years and warned 2017 will be "another tough year" due to a shift away from spending on clothing and a squeeze on UK wages.
Ideagen to buy software firm for up to £12m
Information management software provider Ideagen is to buy software firm PleaseTech for up to £12m on a cash and debt-free basis, which will be partly funded from an equity placing.