Company News
Interserve among those monitored by government after Carillion collapse
News that Interserve was being closely monitored by the UK government after collapse into insolvency of contracting peer Carillion sent its shares tumbling on Wednesday.
Nestle sells US confectionery business to Ferrero in $2.8bn cash deal
Nestle has agreed to sell its US confectionery business to Italian group Ferrero for $2. 8bn in cash.
Thursday preview: Results from AB Foods, Experian, Halfords, Royal Mail and Whitbread
Associated British Foods, Experian, Halfords, Royal Mail and Whitbread are among the big names reporting on what looks a busy Thursday for corporate news.
South32 posts mixed second quarter production
Australian metals and mining company South32 upgraded annual production guidance for its South African manganese operations on Wednesday but left its projections unchanged for all other minerals after a mixed second quarter.
Veltyco takes 51% of crypto wallet provider
Online marketing company Veltyco Group said it was buying a 51% stake in Varkasso, which provides crypto wallet solutions known as 8Crypt through a cash and shares combination worth €0. 3m.
Rolls-Royce slims down to three business, eyeing commercial marine sale
Rolls-Royce may sell off its commercial marine business as part of a new restructuring that will see the group run in three operating divisions.
Cobham says employees at chopper unit bought fake degrees
Defence contractor Cobham on Wednesday said seven employees at its helicopter unit had bought fake university degrees, after a media report exposed a trade in thousands of the qualifications.
Crossrail hands Soho Place over to Derwent London
Crossrail has completed the base infrastructure works at Soho Place, London W1, and handed over the site to Derwent London.
Bank of America Q4 earnings beat expectations despite tax charge
Bank of America posted better-than-expected fourth-quarter earnings on Wednesday, even as it took a big hit from US tax reforms.
Actual Experience revenues halved as group switches focus
UK-based analytics firm Actual Experience saw revenues halve last year after a decision to concentrate sales via its four channel partners, a strategy the group expects to see revenues rebound in 2018.
Faroe Petroleum awarded 8 Norwegian licences
Independent oil and gas company Faroe Petroleum said it has been awarded eight new prospective exploration licences, including four operatorships, in the Norwegian North Sea.
Drax to convert fourth biomass unit by second half of this year
Drax said on Wednesday that it plans to complete work on the conversion of a fourth unit to biomass in the second half of this year, returning it to service in late 2018.
Toople narrows losses on quadrupled broadband orders
Business broadband provider Toople saw revenues grow 34% in the year to 30 September 2017 thanks to a quadrupling of customer orders and improving margins.
Informa and events rival UBM propose £10bn merger
Informa, the events and specialist publishing group, has agreed a potential merger with events-focused rival UBM in a deal that is expected to create a £10bn giant and generate "significant synergies".
Melrose offer rebuffed again as it goes hostile in bid for GKN
Melrose Industries has gone hostile with its bid for GKN, making a sweetened offer of 430. 1p per share, or £7. 4bn, but the engineer has rebuffed it again.
Midwich sees FY adjusted profit 'comfortably ahead' of its expectations
AIM-listed Midwich said on Wednesday that it expects to report a jump in revenue for 2017 following good trading momentum in the second half, while adjusted pre-tax profit is seen "comfortably ahead" of the group's previous expectations.
Burberry sales stumble but Gobbetti confident with new direction
Burberry reported slower sales growth in the last three months of 2017 than had been expected but the luxury clothes retailer remained confident of sashaying on to hit full year profit targets as initial progress is made on its new strategy.
Utilitywise slides after further delays to full-year results
Energy and water consultancy company Utilitywise announced further delays to the release of its final results for the trading year ended 31 July 2017 after a second independent auditor had completed a review of the group's methodology for determining revenue recognition on its utility procurement contracts.
Winkworth sees FY profit slightly ahead of market expectations
AIM-listed estate agent Winkworth said on Wednesday that revenue for 2017 should be in line with market expectations, while profit is likely to be slightly higher.
IWG rallies on Brookfield, Onex bid report
Shares in serviced office provider IWG, formerly Regus, rallied on Wednesday following a report that Canada's Brookfield Asset Management and Onex Corp are preparing an offer that values the company at around £2. 7bn.