News And Announcements
UK banks should use divi cash to write off customer debt - AJ Bell
British banks should use the £7. 5bn saved in scrapped dividends and bonuses to write off debt repayments for customers affected by the coronavirus, investment platform AJ Bell said on Wednesday.
Aerospace firms lobby govt for Virgin Atlantic bailout
Aerospace companies and the UK's biggest airport are reportedly lobbying the government to bail out struggling airline Virgin Atlantic.
Breedon Group temporarily shutters most Ireland operations
Breedon Group announced on Wednesday that it had temporarily suspended production at its sites in the Republic of Ireland, following new government restrictions amid the Covid-19 coronavirus pandemic.
SSP secures access, makes drawdown under Covid finance facility
SSP Group updated the market on the Covid Corporate Financing Facility on Wednesday, confirming that it had secured access and drawn down funding.
Botswana Diamonds gets six new licences as country locks down
Botswana Diamonds announced on Wednesday that the Botswana government has awarded six new prospecting licences, being PL 017-18 of 2020 and PL 066-069 of 2020, to its wholly-owned subsidiary Sunland Minerals.
PetroNeft begins year-round production at Sibkrayevskoye field
Russia-focussed oil and gas exploration and production company PetroNeft Resources announced the start of year-round production from the Sibkrayevskoye field in licence 61 on Wednesday, following the connection of the field to the central processing facility.
Private sector employment eases in the US, sharper falls predicted
Private sector employment eased in the US last month, figures released by consultancy ADP on Wednesday showed, but is expected to fall even further in the coming weeks because of the coronavirus outbreak.
Base Resources draws full revolving facility to continue Kwale operations
African mineral sands producer and developer Base Resources has drawn down the full $75m available under its existing revolving credit facility, it announced on Wednesday.
Watkin Jones scraps dividend as virus disrupts operations
Watkin Jones has scrapped its interim dividend and withdrawn financial guidance after the Covid-19 virus disrupted the student accommodation specialist.
No final dividend for Central Asia Metals shareholders
Central Asia Metals reported group gross revenue of $180. 8m in its full-year results on Wednesday, down from $204. 2m year-on-year, with group net revenue sliding to $171. 8m from $194. 4m.
Rio Tinto accused of violating human rights at Papua New Guinea plant
Mining giant Rio Tinto was accused of “multiple human rights violations” at its Panguna mine in Papua New Guinea after leaving people with poisoned water, polluted fields and a ruined river valley.
Do not come to AGM, says Apax Global Alpha
Apax Global Alpha updated the market in light of the Covid-19 coronavirus outbreak on Wednesday, saying it was closely monitoring the impact of the pandemic.
ValiRx raises £0.2m through placing with new investors
Clinical stage biotechnology company ValiRx announced on Wednesday that it has conditionally raised £0. 2m gross through the issue of 5,714,288 new ordinary shares at a post-reorganisation price of 3. 5p each, with new investors.
Stockpiling by worried consumers sees demand jump at Robinson
Covid-19 stockpiling has caused demand to spike at Robinson, the packaging specialist confirmed on Wednesday, as it posted a jump in full-year revenues.
RHI Magnesita pulls dividend as tough conditions persist
Refractory products company RHI Magnesita pulled its dividend and said difficult market conditions in the second half of 2019 had continued in the first quarter of 2020.
Supreme Court rules in favour of Morrisons over data breach
The Supreme Court has ruled that Wm Morrison cannot be held responsible for a data breach that led to the payroll data of thousands of employees being leaked.
Investors urged to waive limits on fundraisings during crisis
Investors should consider waiving limits on equity fundraisings to help companies through the coronavirus crisis, an influential industry group recommended.
B&M European Value Retail to temporarily close 49 UK stores, furlough staff
Discount retailer B&M European Value Retail said on Wednesday that it will temporarily close 49 of its UK stores "in light of current trading conditions" and that staff at the affected stores will be furloughed.
BP warns on profits; Writes down $1bn, cuts capex, shale output
Oil giant BP said it would write down around $1bn and cut capital expenditure in the first quarter as it warned of a profit hit from the slump in demand as countries implemented measures to address the Covid-19 pandemic.
Sports Direct said to be cutting executives' pay amid Covid-19
Frasers Group, the owner of Sports Direct, will reportedly restrict the salaries of its top executives to a maximum of £40,000 as it looks to guarantee March and April salaries for more than 20,000 employees.