Economic and Market News for 31 January 2020
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31 Jan
14:44Rainbow Rare Earths exports concentrate from Gakara operation in BerundiRainbow Rare Earths said it had exported a further 75 tonnes of concentrate from its Gakara operation in Berundi. The concentrate graded at about 53% total rare earth oxides, of which 19.5% was...
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31 Jan
14:15OptiBiotix Health product launched in North America with partner AgropurDietary supplements group OptiBiotix Health said it and partner Agropur had launched its weight management product in North America. The launch followed OptiBiotix last June granting Agropur an...
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31 Jan
13:42Rockfire Resources identifies 'significant silver' at Plateau project in AustraliaRockfire Resources said an analysis of drill samples had identified significant silver at its Plateau gold deposit in Australia's Queensland state. All drill holes returned significant silver...
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31 Jan
13:21Walcom says can currently meet liabilities until mid-FebruaryAnimal feed provider Walcom said it had adequate working capital to make it through to mid-February, having received a number of orders in January. The orders had enabled Walcom to repay the two...
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31 Jan
13:13MC Mining CEO David Brown stands downMC Mining said chief executive David Brown was standing down with immediate effect to pursue his own interests. Chief financial officer Brenda Berlin would serve as acting CEO. Brown would be...
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31 Jan
10:01Yew Grove REIT ups size of borrowing facility by €9.9mIrish property investor Yew Grove REIT said it had agreed a €9.9m increase to a loan facility with Allied Irish Banks. The increase in the three-year floating rate facility brought its total value...
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31 Jan
10:01French Connection ends sale plans; warns on profitFashion retailer French Connection ended plans to sell the company and said it would focus on completing a turnaround following a strategic review. The company also warned that it expected to...
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31 Jan
09:58Open Orphan launches £5m capital raisingPharmaceutical services company Open Orphan launched a share issue to raise £5m, to fund a growth and synergies following its acquisition of hVIVO. New shares in the company were being offered at...
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31 Jan
09:40Aston Martin secures £500m rescue deal from Formula 1 tycoonAston Martin detailed plans to raise a combined £500m through a rights issue and an equity placing with a consortium led by Lawrence Stroll, part-owner of Formula 1, who would replace current...
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31 Jan
09:29Regency Mines to develop UK energy storage project in SouthportBattery metals focused Regency Mines said it had decided to progress the development of a UK energy storage project. The project in Southport would progress to a mid-year financial close, with...
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31 Jan
09:09Inland Homes profits rise on higher net assets as land holdings swell to recordHousebuilder Inland Homes reported a rise in profits as net assets were bolstered by a jump in the value of its land portfolio. For the 15-month period ended 30 September 2019, pre-tax profit rose...
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31 Jan
08:59Billing Services to sell wireless business for US$5.23mTelecommunications clearing group Billing Services said it had entered into a conditional agreement to sell its subsidiary, BSG Wireless, to Single Digits Connection for about $5.23m. The company...
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31 Jan
08:54Coro Energy walks away from plans to acquire Bulu PSCCoro Energy walked away from plans to acquire a 42.5% stake in the Bulu production sharing contract (PSC), offshore Indonesia, claiming risks associated with the deal had 'significantly' increased....
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31 Jan
08:17Ultimate Sports to change name to Catena, eyes technology investmentInvestment company Ultimate Sports said it was eyeing an opportunity in the financial services technology space, and that it planned to change its name to Catena. Ultimate Sports said it was in...
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31 Jan
07:59Laura Ashley's Kwan Cheong Ng to retire as CEOHomewares retailer Laura Ashley said that Kwan Cheong Ng would retire as the chief executive officer at the end of April. Katharine Poulter, chief operating officer of the company, would succeed...
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31 Jan
07:53M&C Saatchi investigated by UK watchdog over accounting errorsAdvertising company M&C Saatchi said the UK's financial watchdog was investigating the company after it made errors in its accounts. The Financial Conduct Authority had notified M&C...
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31 Jan
07:48Investec nears public listing of asset management businessInvestec said it had made progress on preparations to list its asset management business on the London and Johannesburg stock exchanges ahead of shareholder vote due 10 February. Offering a...
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31 Jan
07:40Senior warns on revenue, margins due to Boeing 737 MAX groundingSpecialist component manufacturer Senior warned revenue and margins in its key aerospace division would fall in 2020 due to the ongoing grounding of Boeing's 737 MAX aircraft. The company said it...
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31 Jan
07:33Ferrexpo appeals against court decision to freeze assets in UkraineFerrexpo said a Ukrainian court had frozen its stake in Ferrexpo Poltava Mining amid a corruption probe into Kostyantin Zhevago, who temporarily stepped down as the company's chief executive last...
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31 Jan
07:19Britvic revenue up 4.9% in Q1; confident of completing French juice business sale this yearSoft-drinks maker Britvic reported a 4.9% rise in first-quarter revenue and said it remained confident of completing a sale of its French juice business this year. Revenue for the three months...
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31 Jan
07:18TalkTalk third-quarter revenue slips; maintains full-year earnings guidanceBroadband provided TalkTalk said its revenue slipped in the third quarter, though it stuck to its earnings guidance for the full year. Revenue for the three months through December fell to £383m,...