Company News
Wednesday preview: Next's festive trading update to set the retail tone
Wednesday will see a post-Christmas update from Next as the first trickle of news from the retail sector before the floodgate opens in coming weeks.
Deutsche Bank upgrades ASOS to 'buy'
Deutsche Bank upgraded online fashion retailer ASOS to ‘buy’ from ‘hold’ and hiked the price target to 7,400p from 5,800p.
Surface Transforms appoints Michael Cunningham as new FD
AIM-listed Surface Transforms has appointed Michael Cunningham as its new non-board finance director, with immediate effect.
Christopher Brown to step down as TomCo CEO
TomCo Energy is looking for a new boss after chief executive Christopher Brown said he would step down to concentrate on his other business interests.
Inland Homes ends 2017 with strong momentum
Inland Homes said it ended 2017 with strong momentum and that the outlook was positive for the coming year.
Randall & Quilter buys Constantia for £1.5m in cash
AIM-listed Randall & Quilter has acquired Constantia Insurance Company, a captive company now in run-off, from Old Mutual, for £1. 5m in cash, which will be financed from existing resources.
Rightmove begins share buyback ahead of results
Rightmove has kicked off the process to buy back up to £23m of its shares in the coming eight weeks.
BBA Aviation promotes Mark Johnstone to CEO
BBA Aviation has ended a seven-month search for a new chief executive by appointing internal candidate Mark Johnstone to run the company.
Marks & Spencer confirms sale of Hong Kong and Macau businesses
Marks & Spencer has confirmed the sale and franchise of its retail business in Hong Kong and Macau to its long-established franchise partner Al-Futtaim.
Compass confirms succession plans after death of CEO Richard Cousins
Compass Group has confirmed the death of its chief executive, Richard Cousins, and his family in a plane accident over the weekend, and said it has moved forward the date of his succession.
RDI eyes lower leverage investments after completing German disposal
RDI REIT completed the sale of its German retail property portfolio for €205m, which it will use to further reduce leverage and recycle proceeds into income-enhancing investments it has identified.
BGEO buys 50% stake in Tbilisi boutique hotel for $4.1m
BGEO Group’s real estate subsidiary, m2 Real Estate, has acquired a 50% stake from a third-party in an upcoming lifestyle boutique hotel in Tbilisi, the capital of Georgia, for $4. 1m.
BP expects $1.5bn tax charge from US changes before later gains
BP expects changes to US tax rates to trigger a charge of about $1. 5bn (£1. 1bn) before benefiting the company in the long run.
IAG creates Austrian budget arm with Niki purchases
British Airways and Iberia owner IAG has swooped to buy assets and invest in Niki, a former part of the collapsed Air Berlin group.
Sythomer sells Leuna site in Germany for undisclosed price
Speciality chemicals company Synthomer has sold its Leuna site in Germany to Alberdingk Boley Gmbh for an undisclosed price.