News And Announcements
UK public borrowing falls as economy revives
UK public borrowing fell in August as the economy recovered but higher inflation pushed up the cost of public debt, official figures showed.
Pimlico Plumbers sold to US group for up to £145m
Pimlico Plumbers, the upmarket home services business founded by Charlie Mullins from a second-hand van, has been snapped up by Neighborly of the US for as much as £145m, according to a report.
Uber on track for first profitable quarter
Uber said it was on track for its first profitable quarter after burning through billions of dollars for more than a decade.
Kingfisher lifts H2 guidance, divi as interims soar on DIY boom
Anglo-French DIY group Kingfisher lifted second-half sales guidance as it reported a surge in interim profits and announced a £300m share buyback as the home improvement boom continued.
Revolut to offer commission-free US stock trading
Revolut will offer commission-free stock trading to US customers for the first time to compete with Robinhood and Square in the fast-growing world of retail share dealing.
Dignity H1 underlying pre-tax profits slip
Funeral services provider Dignity said on Tuesday that underlying pre-tax profits had slipped in the six months ended 25 June despite posting broadly flat underlying revenues year-on-year.
Entain confirms bid approach from DraftKings, shares surge
Ladbrokes owner Entain confirmed on Tuesday that it has received a takeover proposal from DraftKings, made up of a stock and cash offer.
Tower finalises documentation for Thali farm-out
Africa-focussed oil and gas company Tower Resources announced on Tuesday that the documentation of its farm-out of a 49% non-operating working interest in its Thali Production Sharing Contract (PSC) in Cameroon to Beluga Energy, conducted through its wholly-owned subsidiary Tower Resources Cameroon, was now finalised.
AfriTin agrees lending facility with Standard Bank Namibia
Namibia-focussed tin mining company AfriTin has entered into a conditional, credit-approved lending facility with Standard Bank Namibia to fund the expansion of the first phase processing plant at the Uis mine, it announced on Tuesday.
Botswana Diamonds completes drilling programme at Thorny River
Botswana Diamonds said on Tuesday that it has successfully completed its nine-hole drilling programme on the Thorny River property in South Africa.
Egdon reports positive progress at Wressle-1
Onshore UK-focussed exploration and production company Egdon Resources updated the market on its operations on Tuesday, with initial production from Wressle-1 surpassing expectation at 884 barrels of oil and 480,000 cubic feet of gas per day, on a restricted choke with no formation water seen.
Meggitt shareholders approve Parker-Hannifin offer
Meggitt shareholders agreed for the company to be taken over by Parker-Hannifin, it was confirmed on Tuesday, after a majority of shareholders voted in favour of the US defence giant’s takeover offer.
UBS initiates Softcat at ‘sell’, upgrades Computacenter to ‘buy’
UBS initiated coverage of Softcat with a ‘sell’ rating and 1,860p price target on Tuesday and upgraded Computacenter to ‘buy’ from ‘neutral’, hiking the price target to 3,290p from 2,520p.
TI Fluid Systems makes several executive appointments
Automotive fluid technology company TI Fluid Systems announced three executive-level appointments on Tuesday, with Hans Dieltjens assuming the role of president and chief executive officer on 1 October.
Avast CFO Philip Marshall steps down
Cybersecurity firm Avast said on Tuesday that Philip Marshall is stepping down as chief financial officer and as a director due to personal reasons.
Japan’s MUFG to sell part of US division to US Bancorp in $8bn deal
Japan’s Mitsubishi UFJ Financial Group has agreed to sell the retail banking division of its US regional bank MUFG Union Bank to US Bancorp in a cash and shares deal worth around $8bn.
Shares in Universal Music sing on market debut
Universal Music Group’s shares have surged after the world’s biggest label debuted on Euronext in Amsterdam.
Softbank leads $680m investment into Sorare
Japanese conglomerate Softbank is leading a $680m investment in French fantasy football start-up Sorare.
Real Good Food to ditch AIM listing after loss
Real Good Food said it would scrap its AIM listing to save money as the cake decoration company reported an annual loss of almost £3. 5m.
Learning Technologies upbeat on performance of enlarged group
Digital education and talent management service provider Learning Technologies reported a 29% improvement in revenue in its first half on Tuesday, to £82. 6m, including first-time contributions from Reflektive, PDT Global and Bridge.