Economic and Market News for 19 February 2021

Banking group HSBC has appointed Dame Carolyn Fairbairn as an independent non-executive director, with the former director general of the Confederation of British Industry (CBI) set to join the...

Software provider Idox confirmed it has entered into talks with Dye & Durham regarding a possible cash offer. The board said it has received three non-binding indicative proposals regarding...

Bus operator Rotala has said that no staff were injured and neither are there any long-term financial consequences after it suffered a fire in the administrative offices of its Heathrow depot at...

Biomass-based renewable energy group Active Energy said the CLN restructuring and fundraising announced on 1 February 2021 received approval at its general meeting today (19 February). Chief...

Technology company investor Vela Technologies has generated proceeds of £233,801 through a disposal of 1,000,000 shares in Kanabo at a price of 23.5p per share which will be used to make further...

Luxury carmaker Aston Martin Lagonda has announced that Amr AbouelSeoud, who has served as a director of the company since 7 September 2018, has stepped down from the board with effect from 18...

SME finance provider Time Finance has appointed Edward Rimmer as interim chief executive to replace outgoing Ian Smith. He has been hired to the role and as a director of the company with...

Cloud software company IMImobile said a scheme of arrangement has come into effect, allowing a recommended cash offer by Bidco, an indirect wholly-owned subsidiary of Cisco, made on 7 December 2020...

Premier Foods said non-executive director Shinji Honda is stepping down as of 25 March 2021, following his decision to retire from Nissin Foods Holdings Company. Yuichiro Kogo will be appointed as...

Housebuilder Vistry has announced a revised date for publication of its full-year results after its auditor PwC requested 'flexibility' to the current year-end timetable. Vistry confirmed its...

Natural resources company Jangada Mines said it had raised £1.25 million through the placing of shares. The company placed 13,888,888 shares at a price of £0.09 per share, which was below the...

SourceBio said it has entered into an agreement with outsourcing specialist Mitie Security to manage the delivery of Covid-19 testing services as part of the Department of Health and Social Care’s...

Cadence Minerals said DEV Mineracao would now commence operations to ship sufficient iron ore to realise a US$10 million profit from the Amapa iron ore stockpiles in Brazil. The update comes as...

Allied Irish Bank said it had AIB said it had agreed to sell a non-performing loan portfolio in long-term default to Mars Capital Finance Ireland for €0.4 billion as part of an ongoing effort to...

Nickel development company Horizonte Minerals said it had raised gross proceeds of approximately £18.0 million from the placing of shares. A total of 162,718,353 shares had been placed with new...

Georgia-based TBC Bank reported a fall in annual profit in the fourth quarter due to lower interest rates and limited lending growth due to the pandemic. The bank said underlying profit fell to...

Warehouse investor Urban Logistics said it has acquired six sites for £27.8 million. The acquisitions include four properties from Kinaxia Logistics for £17.3 million in Macclesfield, Telford,...

Daily Mail and General Trust said it had agreed to sell Hobsons, its EdTech business, in two separate transactions, for approximately US$410 million. Hobsons' Naviance and Intersect businesses...

Oil and gas company 88 Energy said it was making progress toward the start of drilling at its Merlin-1 well in Alaska, which was set to spud in the first week of March. The mobilisation of...

GoldStone Resources said both the mining operating permit and the water use permit for the company's Homase south pit within the AKHM project in Ghana had been awarded to the project. 'The...

Real-estate investment trust Segro reported a rise in pre-tax profit of 10.8% to £296.5 million for 2020. It said revenue for the year fell to £431.7 million, down from £432.5 million in 2019....

Insulation and building envelope business Kingspan reported a rise in profit in 2020, though said the ongoing increase in raw materials would continue and remain a challenge. For the year ended...

Real Estate investment company Civitas Social Housing said it had secured a new seven year interest only loan facility of £84.55 million from M&G Investment Management to support its growth...

NatWest reported an operating loss of £351 million for 2020, down from £4.2 billion pre-tax profit last year. The bank said net impairment charges were £3.2 billion and announced it will pay a...