Economic and Market News for 19 February 2020
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19 Feb
14:39Qatar Airways ups stake in British Airways owner IAG to 25.1%Qatar Airways said it had upped its shareholding in British Airways-owner International Consolidated Airlines to 25.1%, from 21.4%. 'Our investment to date has been highly successful and the...
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19 Feb
14:22Ferguson acquires Chicago's Columbia Pipe & SupplyPlumbing and heating products group Ferguson said it had agreed to acquire Chicago-based Columbia Pipe & Supply, for an undisclosed sum. Columbia Pipe & Supply generated revenue of $220m...
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19 Feb
14:18Attis Oil and Gas mulls sale of Fort Worth field interest in TexasAttis Oil and Gas said it was considering selling its 50% interest in the Fort Worth field in Texas after partner APEG Palo Pinto failed to meet its financial obligations. Attis had issued a...
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19 Feb
14:03Amryt Pharma submits draft registration statement for US listingRare diseases focused Amryt Pharma said it had submitted a draft registration statement for a proposed listing of American Depositary Shares. The shares would represent Amryt ordinary shares on...
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19 Feb
14:00UK Oil & Gas to remove unwanted water from Horse Hill oil wellUK Oil & Gas said it had commenced operations to shut off an unwanted flow of water into a horizontal well at the Horse Hill oil project near Gatwick Airport south of London. Production...
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19 Feb
13:46Tertiary Minerals losses narrow, seeks further funding this yearMining company Tertiary Minerals narrowed its annual losses after it booked lower exploration writedowns. Pre-tax losses for the year through September amounted to £0.83m, compared to losses of...
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19 Feb
13:38US producer price index rises 0.5% in January, beating expectationsThe US producer price index rose 0.5% in January, according to the Bureau of Labor Statistics. The market had been expecting a more modest rise of 0.1%. Story provided by StockMarketWire.com
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19 Feb
13:34US building permits jump 9.2% in JanuaryUS privately‐owned housing units authorized by building permits in January rose 9.2% to around 1.55m, according to the Census Bureau. The increased beat market expectations for a more modest rise...
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19 Feb
13:32Strix facilities in China experience 'minimal impact' from coronavirusKettle safety controls company Strix said its manufacturing facilities in China had experienced minimal impact from the coronavirus outbreak. The company said its manufacturing operations, located...
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19 Feb
13:24Finablr hopes to resolve share ownership confusion by end FebruaryPayments and FX company Finablr said it was trying to resolve confusion over the size of key shareholdings in the company by the end of February. There are doubts over the size of investments held...
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19 Feb
13:09Micro Focus International launches $1.44bn debt refinancingSoftware company Micro Focus International launched a $1.44bn debt refinancing and extension of a $500m credit facility. Proceeds of the senior secured term loan offering would be used to...
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19 Feb
10:091pm ups size of NatWest debt facility to £42mSpecialist finance provider 1pm said it had increased an invoice finance funding facility with NatWest by an additional £5m to £42m. The facility would be used exclusively for the purpose of...
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19 Feb
09:36Avation adds to list of airline operators as Loganair subleases two aircraftAircraft leasing company Avation said that two of its existing aircraft had been subleased by Loganair, the UK airline branded as 'Scotland's Airline', and would start flying in the coming weeks....
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19 Feb
09:32Altus Strategies shareholders approve C$11.2m investment, share consolidation planAltus Strategies said shareholders had approved its plans to consolidate shares and backed La Mancha's C$11.2m investment for a 35.4% stake in the company. 'The directors believe that this...
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19 Feb
09:32UK consumer price index rises to 1.8% in JanuaryThe UK consumer price index rate was 1.8% in January, according to the Office for National Statistics. That represented an increased from the 1.3% recorded in December and beat market expectations...
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19 Feb
09:05Audioboom sale attracts interest, but yet to receive buyout offerPodcast company Audioboom confirmed that it had received initial enquiries from parties interested in buying the company, but was yet to receive a firm offer. The company currently expected its...
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19 Feb
08:55National Milk Records profit drops following cyber attackDairy and livestock services provider National Milk Records reported a fall in first-half profit after it was hit by a cyber attack. Pre-tax profit for the six months through December dropped to...
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19 Feb
08:52Distil warns on profit citing 'unbudgeted' cost of British Honey pactSpirits group Distil warned on profit as the cost associated with a joint venture agreement with British Honey was expected to keep a lid on performance. Under the agreement, both companies would...
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19 Feb
08:41Alba Mineral Resources appoints German graphite experts for next phase of battery testwork in GreenlandAlba Mineral Resources said it had appointed the German graphite experts, ProGraphite, to conduct its next phase of battery testwork at its Amitsoq graphite project, in southern Greenland. This...
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19 Feb
08:41Mereo BioPharma sells shares at 20% discount to US healthcare investorMereo BioPharma said a US healthcare investor had bought a stake in the company for $3m. The investor had bought around 12.3m shares at 18.8p each, a 20% discount to Mereo's closing share price on...
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19 Feb
08:12Echo Energy disappointed as Campo La Mata well shows non-commercial flowsEcho Energy expressed disappointment that testing of its Campo La Mata exploration well in Argentina had returned non-commercial flow rates. Results from testing the lower secondary target of...
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19 Feb
07:57Toople completes acquisition of communications services group DMSTelecom services provider to small business Toople said it had completed its planned acquisition of communications services group DMS. In the year to 30 April 2019, DMS's turnover was £3.1m, with...
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19 Feb
07:54Supermarket Income REIT acquires Sainsbury's outlet in Hessle for £60.4mSupermarket Income REIT said it had acquired a Sainsbury's store in Hessle from Reassure for £34.0m. The purchase price represented a net initial yield of 5.5%, the company said. The supermarket...
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19 Feb
07:53Transense Technologies chairman David Ford stands down; assumes executive roleSensor system provider Transense Technologies said executive chairman David Ford was standing down to take on an executive leadership role at the company. Ford would become chief executive of the...
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19 Feb
07:48Starcom upgrades supply agreement with shipping services group CubeMonkRemote tracking group Starcom said it had inked an updated supply agreement with US shipping services provider CubeMonk. Starcom had already been working with CubeMonk over the last year to adapt...
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19 Feb
07:44PureCircle secures default waiver, extra funding from lendersAlternative sweetener developer PureCircle said it had secured an additional $8.6m of liquidity from its lenders. The company had also agreed to a full waiver of all previous defaults. The...
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19 Feb
07:40SkinBioTherapeutics forms development pact with Winclove ProbioticsSkin health focused SkinBioTherapeutics said it had signed a development agreement with food supplement manufacturer Winclove Probiotics. The pact, conducted through subsidiary AxisBiotix, would...
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19 Feb
07:36Pelatro expands relationship with telecom clientMarketing software group Pelatro said it had sold more of its product to an existing customer in the telecom sector. Pelatro said the customer had bought two new modules and a bundle of change...
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19 Feb
07:34Tower Resources plans to start drilling Cameroon well in JuneOil explorer Tower Resources said it planned to start drilling an exploration well offshore Cameroon in June. The company said it was presently preparing drilling plans for the NJOM-3 well,...
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19 Feb
07:26Pennant International eyes Middle East contract worth up to £5mTraining and security group Pennant International said it had received a statement of intent for a potential major new contract worth up to £5m, for a suite of generic training aids. The statement...
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19 Feb
07:12Pendragon appoints Bill Berman as CEOAuto dealer Pendragon said it had appointed Bill Berman as its chief executive, effective immediately. Berman had been serving as interim executive chairman since October, when previous CEO Mark...
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19 Feb
07:08Metro Bank appoints Dan Frumkin as permanent CEOChallenger lender Metro Bank said it had appointed Dan Frumkin as its new chief executive officer. Frumkin had been serving as the company's CEO in an interim capacity since 1 January, having...
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19 Feb
07:04Moneysupermarket CEO Mark Lewis to stand downOnline price comparison group Moneysupermarket said chief executive Mark Lewis planned to stand down to 'pursue his career in a new direction'. No departure date had yet been agreed and Lewis, who...