Latest Economic and Market News

Independent Oil and Gas said it had awarded an engineering, procurement, construction and installation contract for project platforms to Dutch contractor HSM Offshore. The contract was for both...

Mining investor ADM Energy said it had pre-qualified in the Nigerian government's 2020 marginal field bid round. The African nation's department of petroleum resources had last month launched a...

Africa-focused tin miner AfriTin Mining said it had raised £3.1m from a share issue that would underpin is existing banking facilities and help fund an expansion of its flagship Uis mine in...

LED lighting and electro-mechanical system manufacturer LPA said it had won two contracts for UK and export rail markets worth a combined £1.5m. The unrelated contracts were for a UK refreshment...

Greatland Gold confirmed that a mining lease application has been lodged with regulators in Western Australia state for the for the Havieron gold-copper deposit there. The application covered the...

Oil company Rose Petroleum said it had changed its name to Zephyr Energy as planned. Trading on AIM in the company's shares would continue under the company's new name on Tuesday with the code...

Healthcare investor Syncona said an indicative pricing range for an initial public offering of portfolio company Freeline Therapeutics would represent an increase in the value of its current...

Cannabidiol group Zoetic International said the completion of a proposed sale of its DTU and its Kansas nitrogen assets to Path Investments had been delayed. 'The transaction has not yet completed...

Subprime lender Non-Standard Finance said it had put an equity raising plan on hold after authorities in the UK raised concerns about operating procedures at its guarantor loans division. The...

Surveillance systems company Petards said its spherical video system has completed successful trials, in partnership with the British Army's armoured trials and development Unit at Bovington. The...

Oil company United Oil & Gas said it had received regulatory approval to take forward the Walton Morant licence in Jamaica. United had been assigned Tullow Jamaica's 80% equity in the licence...

Applied Graphene Materials said it had signed a distribution agreement with US-based Maroon group. Maroon Group was a distributor of specialty chemicals and ingredients across North America....

Cybersecurity company Crossword Cybersecurity said it was 'cautiously optimistic' that full-year results would meet market expectations following higher revenue in the first half of the year....

Oil and gas group Union Jack Oil said a joint venture in which it was involved was on track to produce oil from the Wressle discovery in the UK during the second half of 2020. The UK's Oil and Gas...

Alternative fuel company Velocys said it had completed the manufacturing and delivery of four reactors to Red Rock Biofuels in the US. Red Rock had a further option to purchase an additional two...

Mining group Rockfire Resources said drilling completed in June had intersected some of the highest gold grades to date in the top 200 meteres from surface at its Plateau gold deposit in...

Oil and gas producer San Leon Energy said it would invest $15m in Energy Link Infrastructure, the owner of the Alternative Crude Oil Evacuation System project in Nigeria. The project was being...

UK stocks opened lower on Monday after HSBC revealed hefty credit losses related to the Covid-19 crisis and aerospace engineering Senior announced another round of job cuts. At 0828, the benchmark...

IP Group, the developer of intellectual property-based businesses, said its portfolio company Oxford Nanopore Technologies struck an agreement with the UK to roll out its Covid-19 test. Under...

Hg, the manager of HgCapital Trust, said it had made an additional investment of about $8.1m into Evaluate, a provider of commercial intelligence and predictive analytics to the pharmaceutical...

Cruise operator Carnival said its German line AIDA cruises would not resume operations this week as it continued to await approval from Italy. 'Contrary to our expectations, the final formal...

Music rights investor Hipgnosis Songs Fund said it had acquired the music royalty catalogue of Barry Manilow, for an undisclosed sum. Manilow, who is behind hits including 'Copacabana' and...

Shopping centre owner Hammerson confirmed press speculation that it was in 'advanced discussions' to sell its 50% stake in VIA Outlets to its joint venture partner APG. The company also said it...

Infrastructure group John Laing said that Luciana Germinario would stand down as chief financial officer with immediate effect. Germinario would be leaving the company following a short handover...

Molecular diagnostics group Yourgene Health said it had achieved CE-IVD marking for its SARS-CoV-2 test. The company said the CE-IVD version of its Clarigene test would be used in Yourgene's...

Challenger bank Metro Bank said it had agreed to acquire peer-to-peer lender Retail Money Market, which trades as RateSetter, for up to £12m. The deal included an initial payment of £2.5m, with an...

Advanced materials group Versarien said it had launched a graphene-enhanced protective face mask, designed and manufactured with a Chinese partner. The launch of the face mask coincided with the...

Defence contractor TP said it had secured a contract worth around £1.0mwith a 'leading UK engineering company' to provide management control equipment for enhanced safety management of hydrogen...

Gene and cell therapy group Oxford Biomedica said it had signed a manufacturing and licensing agreement with US biotechnology company Beam Therapeutics. The pact granted Beam a non-exclusive...

Sanofi and GlaxoSmithKline said they were in 'advanced discussions' with the European Commission to supply up to 300m doses of a Covid-19 vaccine. The vaccine candidate developed by Sanofi in...

Power utility National Grid said it had filed a request with regulators in New York state to 'update' electricity and gas prices there. The company had lodged the request with the New York Public...

Travel company TUI said it had completed a sale and leaseback agreement with BOC Aviation for five new Boeing 737 MAX-8 aircraft, for a combined $226m (€193m). The first aircraft was expected for...

Defence company BAE Systems said it had completed its $1.93bn acquisition of Collins Aerospace's military global positioning system business from Raytheon Technologies. Completion of the deal came...

Cash shell Asimilar said it had been granted an extra six months to complete a reverse takeover, lest its shares be cancelled from trading under listing rules. The company had on 14 February...

Online car dealing site Auto Trader said it had acquired Blue Owl Network, the owner of AutoConvert, for an undisclosed sum. AutoCovert was a finance, insurance and compliance software platform...

US personal spending rose 5.6% in June, according to the Bureau of Economic Analysis. The market had been expecting an increase of 5.3%. Personal income fell 1.1%, compared to expectations of a...

Space management software supplier SmartSpace Software said it had signed a distribution agreement with Softcat to resell its workspace management solution. The Space Connect solution would be...

Pharmaceutical company GlaxoSmithKline said it and partner Sanofi had been selected by the US government to participate in the 'operation warp speed' effort to develop a vaccine for Covid-19. The...

Specialist finance group Orchard Funding said it had appointed current director Steven Hicks as its new chairman. The appointment would become effective from 7 October, when current chairman Mark...

Oil company Coro Energy said it had terminated an agreement to sell its Italian assets to Zenith Energy. Completion of the deal was was conditional on Italian regulatory approvals, which Coro...

Leeds Building Society reported a fall in first-half profit as loan loss provisions increased. In the six months ended 30 June, pre-tax profit fell to £32.6m from £49.4m on-year as total...

Oncology consultancy Physiomics said it had won a new contract from Japanese pharmaceutical company Astellas Pharma. Physiomics said the precise value of the contract could not be disclosed for...

Cybersecurity company Avast said it had launched a new cyber protection product for small businesses, entrepreneurs, and home offices. The product would secure 'all types of devices, protecting...

Defence company Babcock said that Franco Martinelli would be retiring from his role as finance director. 'A process will start to appoint his successor. Franco (Martinelli) will remain in his...

Cell-based therapeutics developer ReNeuron said it had received a notice of allowance for a patent application in the US. A notice of allowance was issued by the United States Patent &...

Technology business investor Vela Technologies said its shares has been suspended from trading while it works through a proposed capital restructure. A notification had been sent to shareholders...

Safety related company investor Marlowe said it had acquired water treatment and hygiene services group Rainbow Water Services, plus health services business Caritas, £0.45m and £0.13m,...

Gene and cell therapy group Oxford Biomedica said it had signed a three-year clinical supply agreement with Axovant Gene Therapies. The supply pact built on a worldwide license agreement signed...

Electronics supplier DiscoverIE reported a fall in sales in the four months through March and said it would resume acquisitions in the second half of the year. For the first four months of the...