Latest Economic and Market News

Power generation group Rurelec said it had received a further $0.28m by way of partial repayment from Patagonia Energy Limited of amended and restated loan notes. The balance outstanding on the...

Shale exploration and technology company TomCo Energy said it was not aware of any reason for a recent surge in its share price. The company reiterated that it was now working with partner Valkor...

Oil company Mosman Oil and Gas said authorities in Australia's Northern Territory had approved an extension of an exploration permit there due to the Covid-19 crisis. The company had secured an...

The US producer price index fell 0.2% in June, according to the Bureau of Labor Statistics. The market had expected a rise of 0.4%. Story provided by StockMarketWire.com

Jangada Mines said it had recorded additional high-grade drilling assay results at its Pitombeiras vanadium project in Brazil. Highlights from the Pitombeiras North target included intersecting...

Postal and logistics group Royal Mail has been fined £1.6m by British regulators for failing to meet its delivery targets and overcharging customers for stamps. Royal Mail is required by regulator...

Arix Biosciences said that its portfolio company, Atox Bio, announced that it would be filing a new application in the third quarter of this year for its drug used to treat patients suffering from...

Gold miner Petropavlovsk said directors including chairman Peter Hambro would remain in their roles after a court requested a full hearing on an application by investor Everest Alliance to have...

Advertising company Attraqt Group said it had appointed Paul Tough as chief product officer with immediate effect. Tough joined the group from eComp Consulting, a specialist digital strategy firm,...

Fuel cell developer Proton Motor Power Systems said SFN Cleantech Investment had upped its stake in the company to 83.3% after having converted some interest on loans into shares. SFN had...

Infrastructure company InfraStrata said it had conditionally raised about £9.0m through the placing of shares. The net proceeds from the placing would strengthen the company's balance sheet, pay...

The Gym Group confirmed that it would reopen its fitness centres from 25 July, in line with government guidance. The company said 160 sites across England would open on 25 July, but operate at...

Hotels group Dalata Hotel said it had amended its debt facility and added that the pace of bookings over the last week had been 'encouraging' as governments lift restrictions. The company agreed...

Mining group SoldGold said drill testing was expected to commence this year at its Rio Amarillo project in northern Ecuador. The company said that four high-priority porphyry targets at the Rio...

Personal care and life science products maker InnovaDerma warned on profit as the impact of Covid-19 and on-line advertising costs hurt peformance in the second half of its financial year. The...

Advertising technology group Tremor International said it had appointed current director Chris Stibbs as its new chairman, effective from the start of September. He would replace Tim Weller, who...

Survey and inspection services provider Remote Monitored Systems said chairman Nigel Burton had retired, with immediate effect, to pursue other opportunities. He had been replaced by current...

Copper-gold explorer and developer Chesterfield Resources said it had encountered two further 'signficant' intersections of sulphide mineralisation at its Evlim target in Cyprus. At the first...

Russia-focused miner Trans-Siberian Gold said the development of Vein 25 in the eastern zone of its operating Asacha gold mine was progressing well. Since April, about 9,488 tonnes of ore with an...

Convenience store retailer McColl's said it had delayed the release of its annual results to allow the company and its auditors sufficient time to complete preparation and reviews. The results...

Maritime surveillance group SRT Marine Systems said that a delayed Philippines fisheries management system project had recommenced, with a 'significant' cash payment having been received this...

Wealth manager Charles Stanley reported a rise in funds under management, led by higher commission income from increased trading activity and a jump in revenue from its financial planning...

Housebuilder MJ Gleeson reported that home sales fell by nearly 30% on-year, but said it expected results to meet revised market expectations. For the year ended 30 June, completions fell 39.9% to...

Power utility National Grid has said it is 'extremely disappointed' with Ofgem's draft determination for RIIO-T2, which it said 'risks undermining the process established by Ofgem'. National Grid...

Energy utility SSE's wholly-owned subsidiary Scottish and Southern Electricity Networks Transmission (SSEN Transmission) has said it is 'disappointed and deeply concerned' in response to Ofgem's...

C&C group said it had appointed David Forde as chief executive officer. The company also appointed Patrick McMahon, current group strategy director, as chief financial officer to succeed...

Mining company Rio Tinto has announced it will begin the wind-down of operations and the eventual closure of New Zealand Aluminium Smelters (NZAS) following a strategic review which concluded the...

Building materials distributor Grafton said it remained uncertain about the revenue outlook for the second half of the year as better than anticipated performance in June was likely boosted by...

Infrastructure investment company 3i Infrastructure said the performance of its portfolio was in line with expectations as total income declined from April through the end of June. For the...

Pharma giant AstraZeneca said the US Food and Drug Administration had accepted supplemental new drug application and granted priority review for a drug used to reduce subsequent stroke in patients...

West Africa focused agribusiness Dekel Agri-Vision said it has been advised by manufacturer Oltremare that the first shipment of milling equipment for its cashew processing project at Tiebissou in...

Mining groups Red Rock Resources and Power Metal said they were progressing technical study work at their Australian joint venture. OreTeck Mining Solutions of Melbourne was currently finalising a...

Biotherapeutics company PureTech Health welcomed news that founded entity Sonde Health had launched an app designed to detect respiratory diseases such as Covid-19 by monitoring voice recordings....

Water utility Pennon said said it had completed the sale of its Viridor waste management business to funds advised by Kohlberg Kravis Roberts for £4.2bn, including debt. Pennon reiterated that it...

Uranium stockpiler Yellow Cake launched a $10m share buyback after it sold a batch of the nuclear fuel source. The shares would be bought back over three months starting Wednesday. The move...

Energy storage and clean fuel company ITM Power welcomed an announcement from the European Commission that it would support the development of hydrogen power on the continent. The European...

Accommodation group PPHE Hotel said several of its city and provincial hotels in the UK would reopen in the first half of July. The company, which operated under the Park Plaza brand, said its...

Renewable energy investor Greencoat Renewables said it had acquired 50% of the 20.5 megawatt Carrickallen in County Cavan, Ireland, for an undisclosed sum. The remaining 50% of the asset, which...

Personal care products maker Creightons said it would launch a new hand cream. A newly developed anti-viral and "alcohol free" hand cream had been approved and was about to launch, the company...

Travel company TUI said it had completed the sale of Hapag-Lloyd Cruises to its joint venture with Royal Caribbean, for an enterprise value of around €1.2bn. 'The transaction is closed in a...

Guarantor loans provider Amigo said Glen Crawford would be re-joining the company as chief executive officer. Crawford's appointment was expected to take effect from 1 August 2020, the company...

Regional office and industrial property investor Regional REIT said an 'encouraging' 78.5% of rent due in the second quarter had already been collected, or a payment plan was in place. Rent...

Baskerville said its proposed second subscription investment into Oberson Investment would be reduced following better-than-expected trading. 'Due to the recent organic growth and improved cash...

Logistics company Wincanton said it had extended a relationship with supermarket group Asda for the management of its transport and warehousing operations. The relationship dated back to 2005,...

Media and technology business Iconic Labs said it expected to generate a significant amount of revenue that would push the company into an operating profit within three months after entering into a...

Immunodiagnostics group Oncimmune welcomed the publication of research that had been supported by its technology. The paper was published in Arthritis Research & Therapy1 and demonstrated the...

Technology group Cohort said it had won Joint Command and Staff Training contract for UK Strategic Command, valued in excess of £11m spread evenly over two years, with a further three one-year...

Online fashion retailer Boohoo vowed to launch a probe into its supply chain amid allegations one of its supplier's factories was underpaying staff and failing to protect them from Covid-19....

Pharmaceutical technology supplier MaxCyte said it had entered into a clinical and commercial licensing agreement with private biotechnology company Apeiron Biologics. Apeiron Biologics would...