Economic and Market News for 14 August 2019
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14 Aug
15:00UPDATE: Sports Direct auditor Grant Thornton resignsSports apparel and equipment retailer Sports Direct said that Grant Thornton had resigned as its auditor. Sports Direct said that Grant Thornton had made the decision subsequent to the publication...
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14 Aug
14:06European Metals raises capital to advance Czech lithium projectEuropean Metals said it had raised £750k via a share placing to advance the development of its Cinovec lithium and tin project in the Czech Republic. New shares in the company were issued at 18p...
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14 Aug
14:03ECR Minerals kicks off gold exploration at Henry's Hill in AustraliaECR Minerals said gold exploration had commenced at Henry's Hill, within the company's Avoca gold project in Australia's Victoria state. Avoca was one of five projects held by ECR in the Victorian...
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14 Aug
13:59Gfinity to close Australian joint ventureE-sports services provider Gfinity said its Australian joint venture would close at the end of November. The decision was taken in conjunction with local partner HT&E and followed a strategic...
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14 Aug
13:53Aura Energy testing confirms high deposit grade at Swedish vandium playAura Energy said that drill assay results on the Haggan vanadium project in Sweden had confirmed the high-grade and continuous nature of its mineralistion. Highlights included intersecting 103...
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14 Aug
13:46Conroy Gold identifies new gold zone at Slieve Glah prospect in IrelandConroy Gold and Natural Resources said testing results from two drill holes had identified a new gold zone at its Slieve Glah prospect in Ireland. The first drill hole intersected low-grade gold...
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14 Aug
13:39VietNam invests around $6m in logistics company ABA CootransVietNam Holding said it had invested in logistics company ABA Trading Solutions, also known as ABA Cooltrans, through a convertible bond offer. The company said it had paid the Vietnam Dong...
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14 Aug
13:29Management Resource Solutions says analysis backs up Alerion dealManagement Resource Solutions said an independent valuation of Alerion Consulting indicated that it had not over-paid for the business. Leadenhall Services determined the fair market value of...
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14 Aug
13:22Walcom warns of potential liquidation as swine flu outbreak hurts China salesAnimal feed supplier Walcom warned that it may be forced into liquidation next month if it is unable to secure further funding, as an ongoing outbreak of swine flu in China crimps its sales....
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14 Aug
13:12Former CEO of Cambridge Cognition diesCambridge Cognition Holdings said former chief executive Nick Kerton had lost a long battle with cancer. Kerton was the company's CEO from September 2013 until the end of 2015 and remained on the...
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14 Aug
13:09Equals to raise £16m to accelerate organic growth, fund acquisitionsFinancial services company Equals said it was in the advanced stages of raising around £16m, to accelerate organic growth and fund potential acquisitions. News shares in the company were being...
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14 Aug
13:04BT to scrap US market listingTelecom company BT Group said it would delist its US shares to reduce operating costs and complexity. The company said it expected a delisting of its American depositary shares to become effective...
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14 Aug
10:08LMS Capital completes sale of stake in Entuity for £10.5mLMS Capital said it had completed the sale of its stake in Entuity for £10.5m. The sale took place on 13 August 2019, the company confirmed. It comes after the company reported pm 2 Aug, that it...
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14 Aug
10:00Horizonte Minerals continues progress on developing Araguaia, Vermelho projectsHorizonte Minerals said that in the first six months of 2019 it had seen continued progress on both the Araguaia Ferronickel and Vermelho Nickel-Cobalt projects, with both advancing to plan. The...
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14 Aug
09:57Petro Matad gets Mongolia well back on track after land use disputePetro Matad said it was preparing to start drilling a well in Mongolia after achieving verbal approval from local authorities that had been delaying its progress. The rig for the Heron-1 well had...
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14 Aug
09:50Salt Lake Potash appoints new finance, sales and people headsSalt Lake Potash said it had made three senior appointments, including Shaun Day as its chief financial officer. Day was most recently CFO of Northern Star Resources. The company said it had also...
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14 Aug
09:45Chaarat in 'advanced discussions' with lender to extend $10m loan agreementGold mining company Chaarat said it was in 'advanced discussions' with the lender to extend the US$10m loan agreement into 2020 and to increase the principal amount. 'It is envisaged that the...
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14 Aug
09:42i3 Energy inches closer to getting drilling at Liberator field underwayi3 Energy, an independent oil and gas company, announced that the Borgland Dolphin semi-submersible drilling rig had completed its acceptance testing and would begin transit to the Liberator field...
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14 Aug
09:34UK consumer price index rises unexpectedly to 2.1% in JulyThe UK consumer price index rate rose to 2.1% in July, according to the Office for National Statistics. The reading was above market expectations of a fall to a 1.9% rate, from the 2.0% recorded...
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14 Aug
09:24TomCo Energy raises capital; says Utah field test on scheduleTomCo Energy said it had raised £450k from a share issue to provide working capital. New shares in the company were issued at 3.5% each, representing a 33% discount to their closing price on...
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14 Aug
08:52Admiral profits hurt by £33m hit amid regulatory changeMotor insurer Admiral said profits were hurt by a £33m hit following a regulatory change that tweaked the way that compensation payments for personal injury victims were calculated. For the six...
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14 Aug
08:26Zenith Energy kicks off drilling of Azerbaijan oil wellZenith Energy said drilling operations had commenced on a new well at the Jafarli oilfield in Azerbaijan. The company said it would provide further updates on the progress of the C-37 well in...
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14 Aug
08:19Sunrise Resources completes processing trails at Nevada fertilizer projectSunrise Resources said it had successfully completed processing trials at its CS pozzolan-perlite fertilizer project in Nevada. The company said it had also expanded horticultural-grade perlite in...
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14 Aug
08:12FirstGroup's JV First Trenitalia wins West Coast partnership from Department of TransportFirstGroup said the Department for Transport had awarded the new West Coast partnership to its joint venture First Trenitalia. The new partnership would operate from 8 December 2019 and...
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14 Aug
07:57ReNeuron to partner with University of Cardiff on grant-funded collaborationCell-based therapeutics developer ReNeuron Group said it would partner with the University of Cardiff under a new grant-funded collaboration utilising its exosome-based drug delivery technology...
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14 Aug
07:56CLS profits jump on increase in rental income and portfolio valuation gainsProperty investment company CLS saw profits rise by more than a quarter in the first half of the year following an increase in rental income and portfolio valuation gains. For the six months...
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14 Aug
07:54Osirium Technologies wins customer for new cyber security productCyber security software company Osirium Technologies said it had secured the first customer for its robotic process automation solution. The customer was a 'leading asset manager' that was already...
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14 Aug
07:40Scisys wins contract with European television broadcasterSoftware-system and IT services supplier Scisys Group said that its German division had secured a contract from a 'major European broadcaster' for newsroom software, services and training. The...
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14 Aug
07:38Quadrise Fuels inks non-binding development pact with Merlin Energy ResourcesQuadrise Fuels International said it had signed a non-binding agreement with energy consultancy Merlin Energy Resources to potentially develop the company's alternative fuel products. Quadrise...
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14 Aug
07:21AstraZeneca's leukaemia drug wins fast-track review from US Food and Drug AdministrationAstraZeneca said the US Food and Drug Administration had granted breakthrough therapy designation for its chronic lymphocytic leukaemia drug. The breakthrough therapy designation (BTD) status for...
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14 Aug
07:20Sports Direct auditor Grant Thonrton resignsSports apparel and equipment retailer Sports Direct said that Grant Thornton had resigned as its auditor. Sports Direct said that Grant Thornton had made the decision 'not to seek reappointment'...
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14 Aug
07:14AstraZeneca and Merck ovarian cancer drug meets primary endpoint in clinical trialAstraZeneca and Merck said their ovarian cancer drug combined with bevacizumab had improved survival rates, meeting its primary goal during clinical trials. Women who took Lynparza plus...
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14 Aug
07:13Standard Life Aberdeen sells shares in India's HDFC Life for around £374mStandard Life Aberdeen said it had sold down more of its stake in Indian life insurer HDFC Life for around 32.0bn Indian rupees, or £374m. The shares were sold at an average price of 480.701...