Company News
Thursday preview: US economic data in the spotlight
Investors will be treated to a slew of economic releases in the States on Thursday, including readings on so-called 'high-frequency' indicators such as initial weekly unemployment claims and the Federal Reserve Bank of Philadelphia's regional manufacturing sector gauge.
Nautilus Marine Services registers loss after fleet of acquisitions
Nautilus Marine Services registered an increase in total loss for 2017 on Wednesday, despite increasing revenues 40% to $250,000 compared to the previous year.
Regal Petroleum shares rise almost 15% after new well spudding
Regal Petroleum’s shares shot up over 14% on Wednesday after the company announced the spudding of its VAS-10 well in Ukraine.
Prudential announces plan to spin off UK businesses
Prudential announced plans to split off its UK and Europe business as the life insurer posted a rise in annual profit driven by surging sales at its Asian business.
Conviviality discovers £30m tax bill that threatens covenants, cancels interim divi
The bad news just kept coming for Conviviality on Wednesday as it announced that it was cancelling the interim dividend that was due to be paid at the end of the week, after its shares were suspended following the discovery of a £30m tax bill that could force the alcohol wholesaler and distributor to break its banking covenants.
Flowtech Fluidpower buying Balu in £10.2m deal
Specialist technical fluid power products supplier Flowtech Fluidpower has entered into an agreement to acquire the entire issued share capital of Balu and its trading subsidiaries, Beaumanor and Derek Lane, for a total consideration of approximately £10. 2m, it announced on Wednesday.
AfriTin upbeat on latest work at Uis mine
AfriTin Mining, a mining company with a portfolio of near production tin assets in Namibia and South Africa, updated the market on operations at its flagship Uis tin mine in Namibia on Wednesday, reporting the completion of detailed geological mapping over the V1 and V2 pegmatites.
Toys R' Us set to shut all UK stores, 3,000 employees to lose their jobs
Toys R Us are set to start closing all 100 UK stores on Thursday leaving 3,000 staff on the street after the retailer failed to find a buyer, leading to the collapse of the company.
MTI Wireless edges toward merger with majority shareholder MTIC
Flat panel antenna manufacturer MTI Wireless Edge is in preliminary discussions with its majority shareholder, MTI Computers & Software Services (MTIC), for a merger between the two companies.
Which? claims holidaymakers aren't warned about post-Brexit flight cancellations
Which? has revealed that millions of holidaymakers haven’t been warned properly by travel companies of the consequences of a ‘no deal’ on aviation post-Brexit, which includes potential flight disruptions and booking cancellations.
Yu Group raises £12m for investments in growth
Independent supplier of gas and electricity to the corporate sector, Yü Group, has raised £12. 0m in gross proceeds, it announced on Wednesday, through a placing of 1. 2 million new ordinary shares at a price of £10. 00 each.
Corero confirms two orders for its 'SmartWall' system
Network security company Corero Network Security announced two orders for its ‘SmartWall’ threat defense system technology on Wednesday, with a combined value of $0. 9m and additional incremental orders expected in 2018.
Morrisons drops as payout on 'continued growth' fails to convince
Supermarket group Morrisons announced a special dividend on top of its annual payout as management expressed confidence that the company will continue to grow sales and profits.
Melrose proposes binding GKN undertakings to MPs
Melrose Industries has sought to reassure MPs about its proposed hostile takeover of GKN by proposing binding commitments on research, pensions and other matters of political concern.
OnTheMarket signs up 1,000 offices since AIM admission
Online property portal operator OnTheMarket announced on Wednesday that, in the first five weeks since admission to AIM, additional agent firms with more than 1,000 offices were now in listing agreements with the company.
LightwaveRF abandons exclusive distribution model
Smart home solutions provider LightwaveRF announced a series of expanded distribution arrangements covering both the UK retail and wholesale sectors on Wednesday - one of which would lead to Lightwave devices being sold by the John Lewis Partnership.
Physiomics awarded a new Innovate UK grant
Cancer treatment prediction technology company Physiomics has been awarded a new grant by Innovate UK, it announced on Wednesday.
Everyman Media profit jumps amid expansion
Everyman Media, the owner of the Everyman cinema chain, reported a big jump in full-year profit on Wednesday as it continues to expand.
Dana could list in London as part of GKN deal
US-based auto parts giant Dana Inc could list its shares in London as a condition of its $6. 1bn acquisition of GKN's power train business.
London midday: Stocks rise as investors cheer Prudential spin-off; US retail sales eyed
London stocks were adding to their early gains by midday on Wednesday, recovering somewhat from losses in the previous session as a strong performance from miners and Prudential lent a hand.