COMPANY NEWS
02 Jan
Next, retail, fashion
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.

02 Jan
asos
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.

02 Jan
handshake
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.

02 Jan
oil shale drilling roughnecks
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.

02 Jan
housebuilder building construction bellway
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.

02 Jan
cash money sterling pay deal offer acquisition m&a
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.

02 Jan
houses london housing
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.

02 Jan
Avion airplane
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.

02 Jan
marks and spencer, maks&spender, supermarket, retail
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.

02 Jan
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.

02 Jan
berlin1
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.

02 Jan
Money cash dollars
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.

02 Jan
bp
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.

02 Jan
ep avionniki
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.

02 Jan
synthomer, chemicals
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.