Latest Economic and Market News

Oil company Nostra Terra said further work at a new well in Texas indicated the oil was closer to the surface that previously anticipated. Logging work had been completed at the Cypress farm-out...

Vanadium flow batteries company Invinity Energy Systems said it had signed a contract worth £6.7 million to deliver an 8 MWh vanadium flow battery system for a solar-plus-storage project to be...

Energy storage fund Gore Street said its Drumkee project, a 50MW installed capacity project located in Northern Ireland, was on track to be energised in December. Both the Drumkee and Mullavilly...

Construction materials group Breedon said that James Brotherton would join the executive management team as chief financial officer designate on 1 January 2021. Brotherton was CFO of Tyman between...

Total quality assurance provider Intertek said it expected to report a mid-single-digit like-for-life revenue decline for the year amid signs of improved performance in the July-to-October period....

Advanced materials engineering group Versarien said it had won a product development agreement for £1.95 million from the UK's ministry of defence. The agreement involved the development of...

Meat producer Cranswick upped its interim dividend after reporting a rise in profit on strong export growth and robust demand following a shift toward greater in-home consumption amid the Covid-19...

Insurance company Phoenix confirmed press speculation that it was mulling a sale of its European businesses. 'In light of recent expressions of interest from third parties for the European...

Property investor Segro confirmed that its shares would commence trading on Euronext Paris on Tuesday morning. The company said its shares also would remain tradable on the main market of the...

Thread manufacturer Coats said Mike Clasper would retire as chairman at the conclusion of the company annual general meeting in May. Clasper would be succeeded by David Gosnell, who was currently...

Land and property group Harworth said it had acquired off-market Saturn Park in Knowsley, Merseyside, for £26 million plus acquisition costs. The acquisition, in line with Harworth's strategy to...

Medical devices group RUA Life Sciences said it had recorded positive test results for its most recently manufactured surgical valves. The hydrodynamic or pulsatile flow testing replicated the...

Customer relationship management software company Cerillion raised its final dividend after reporting a rise in profit as new business wins boosted revenue. For the 12 months ended 30 September...

Drug development company Evgen Pharma said it had enrolled and dosed its first patient in the STAR trial evaluating SFX-01 as a treatment for acute respiratory infections. This phase II/III trial...

Fresh cream cakes retailer Cake Box today lifted its interim dividend as first-half profit fell modestly amid higher margin and revenue. For the six months ended 30 September 2020, pre-tax profit...

Shares in Reabold Resources and Union Jack Oil both fell sharply after the companies announced disappointing drilling results from the West Newton venture in England. The WNB-1 well, drilled to a...

Woundcare company Advanced Medical Solutions said it had acquired Raleigh Adhesive Coatings for £22 million, strengthening the company's position in the woundcare sector. 'Raleigh has also...

Energy support vessels company Gulf Marine Services said it had suspended Tim Summers from his current role as chief executive officer, pending an internal investigation into a severance agreement...

Chemicals company Elementis said it had closed its production plant in Charleston, West Virginia. The decision followed a review of its North American manufacturing operations to improve both...

Exploration and development company Bluejay Mining said it had joined the European Raw Materials Alliance. The ERMA was recently launched by the European Commission as part of its outlined action...

Directa Plus said NexTech Batteries' Lithium-Sulphur batteries battery, produced with the company's graphene nanoplatelets had achieved above 400 watt-hours per kilogram in pre-production...

Health care services group Uniphar said Ireland's Competition and Consumer Protection Commission had approved its planned acquisition of Hickey's Pharmacy. The deal, previously disclosed on 2...

Gulf Keystone Petroleum said it had completed its planned workover on the SH-12 well in Iraq and expected output within the top end of its guidance range. The company confirmed that average 2020...

Renewable energy and forestry management business Active Energy said it had appointed Andrew Diamond as finance director starting from 1 January 2021. Diamond was previously finance director at...

Mining company Vast Resources said the first commercial sale of concentrate produced at its Baita Plai polymetallic Mine in Romania was expected to conclude on Wednesday. The company said it had...

Respiratory diseases focused Verona Pharma said it had entered into a debt financing facility for up to $30 million with Silicon Valley Bank. The capital provided further financial flexibility to...

Castings and engineering group Chamberlin said it had lost its largest customers of the machine shop's output to a rival supplier. Ongoing customer orders were likely to be a 'fraction of the...

Gasification technology company Eqtec said it had agreed with Scott Bros. Enterprises to extend the exclusivity period of the Billingham memorandum of understanding to jointly develop the proposed...

Infrastructure company HICL said it had signed a new letter of credit facility to support its existing and future commitments to projects in construction. The facility was initially sized at...

Long income real estate investment trust LXi REIT swung to a first-half loss as higher rental income was offset by a pandemic-fueled fall in the value of its property portfolio. For the...

Infrastructure investor group John Laing said it had increased its stake in I-77 Mobility Partners by 7.45% to 17.45% after investing an additional $38.6 million. I-77 Mobility Partners was the...

Cinema group Cineworld said it had secured a $450 million debt facility maturing 23 May 2024, to firm up its finances and would undertake additional measures to deliver over $300m in liquidity....

Pharmaceutical company AstraZeneca said clinical trials in the UK and Brazil showed its Covid-19 vaccine, being developed with Oxford University, had an average efficacy of 70% in protecting...

Food packaging company Hilton Food said Robert Watson would make the planned move from executive chairman to non-executive chairman on 1 January 2021. 'This change follows the completion of the...

Insurance company Aviva said it had agreed to sell its entire 80% stake in the Italian life insurance joint venture, Aviva Vita, to its partner UBI Banca for €400 million. The transaction,...

Roadside assistance company AA said it had received a possible takeover of 35 pence a share from a consortium of investors including TowerBrook Capital Partners and Warburg Pincus International....

High-tech component supplier to the aerospace and energy markets Meggitt said it had issued $300 million of private placement debt. The senior notes were issued to international investors on 19...

Telecom company Vodafone said it had committed to reducing its global carbon emissions to 'net zero' by 2040, a decade earlier than first planned. The company confirmed that its 2030 carbon...

Russia-focused gold miner Petropavlovsk said it had appointed of KPMG to investigate 'certain transactions' undertaken by the company in the three years to August 2020. The forensic investigation...

Greencoat UK Wind said it had agreed to acquire a 49% stake in the Humber Gateway offshore wind farm from Germany's RWE, in partnership with pension funds managed by Greencoat Capital, for £648...

Finsbury Growth and Income Trust has issued 50,000 new ordinary shares of 25p from its block listing authority of 2 July 2020 at a price of 852 pence per share. The company has the ability to...

Technology company Avon Rubber has confirmed that current chair David Evans will retire from the board on 2 December 2020, to be replaced by Bruce Thompson. Pim Vervaat will also stand down from...

Princess Cruises is extending its pause in global operations in response to the coronavirus pandemic. It said this will allow it to prepare ships so they meet current Centers for Disease Control...

Euronext shareholders have approved the proposed acquisition of the Borsa Italiana Group from the London Stock Exchange Group (LSEG). In preparation of the acquisition, Borsa Italiana chair Andrea...

Jangada Mines said ValOre Metals, in which the company held a 17.68% interest, released a report showing results from sampling at its Pedra Branca project showed a high value of rhodium....

Surgical and advanced wound care company Advanced Medical Solutions said it had received a CE mark approval for its silicon PHMB foam dressing, paving the way for the product to be marketed in...

Block Energy said it expected to complete the acquisition of Schlumberger Rustaveli Company on 23 November. On completion, Block would take possession of approximately 29,000 bbls of crude oil...

Infrastructure solutions company Costain said it had appointed Helen Willis as chief financial officer starting 30 November. Willis would join Costain on 23 November to commence a handover prior...

Alba Mineral Resources said it had won the exclusive exploration rights to the Gwynfynydd gold mine in north Wales. The Gwynfynydd gold mine was the second largest producer of gold in the UK's...