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London midday: Stocks rise as Theresa May prepares to take over as PM
London stocks rose on Wednesday as Theresa May prepared to take over as Prime Minister and as investors awaited the Bank of England’s policy decision.
Steinhoff buys Poundland for £597m
South Africa’s Steinhoff Holdings has reached an agreement with Poundland to buy the remaining shares in the London-listed discount retailer it does not already own for 222p per share in cash, valuing it at £597m.
Hackers attack Britain's railways four times in a year
The safety of the UK’s railways was called into question this week, after a private security firm alleged state-sponsored foreign hackers broke into the network’s digital infrastructure four times in the last 12 months.
BMW warned over misleading headlight advertising
An advertisement for BMW has been taken off the air, after it was found to be misleading in its claim that its high-beam headlight technology did not dazzle oncoming drivers.
Blancco expands globally as demand for mobile security grows
Blancco Technology, the mobile security software provider, confirmed sales and profits would hit full year forecasts after it enjoyed continued good trading in the second half of its financial year.
Nokia and Samsung announce expansion of patent deal
Technology firms Nokia and Samsung have reached an agreement to extend their current patent deal which was originally announced in February of this year.
US pre-open: Stocks set for flat open after Tuesday's fresh records
US futures pointed to a broadly flat open on Wall Street, with investors set to pause for breath after the Dow and the S&P 500 hit fresh records in the previous session.
FCA fines Towergate £12.6m for client and insurer money failings
The Financial Conduct Authority has fined insurance intermediary Towergate Underwriting Group just over £2. 6m for failings in relation to its protection of client and insurer money.
Barratt sees full year in line with expectations; Brexit could slow rate of building
House builder Barratt said full year profit before tax was to increase by around 20% to £680m, in line with market expectations, but told reporters it could reduce the rate at which it builds houses due to a possible slowdown from Brexit.
Canaccord leaves GVC Holdings at 'buy', raises target price
GVC Holdings shares gained on Wednesday as Canaccord Genuity reiterated a ‘buy’ rating on the stock and lifted its target price to 680p from 615p.
Tube passengers lose 26 million hours to delays in a year
Passengers on the London Underground lost more than 26 million hours to delays, cancellations and other disruption on the network in the last year, according to new Transport for London board papers published on Wednesday.
Tesco and Sainsbury's recall tinned goods over rubber fears
Both Tesco and Sainsbury’s issued a recall for some tinned food on Wednesday, amid fears they may contain rubber.
Boeing considering first new plane in over a decade
Boeing is said to be looking into the prospect of adding a brand new plane to its repertoire, which would be the first new aircraft produced by the firm in over a decade.
Burberry sales fall less than feared but challenging conditions remain
Declines across all three of Burberry Group's regions led to a 3% like-for-like drop in retail sales in the first quarter, which was less than the 5% fall the market had forecast, though the luxury retailer warned its market remain challenging.
Eurozone industrial production drops more than expected in May
Eurozone industrial production fell more than expected in May, according to the latest figures from Eurostat.
Asia report: Abenomics expectations lead markets higher
Markets in Asia finished higher on Wednesday, extending a rally among global markets which saw US indexes reach records on Tuesday, with investors looking for further easing from Japan’s re-elected administration and a sense of direction from politicians in the UK.
GVC gains 11-year high on 'remarkable' Bwin turnaround
Helped by favourable results in the Euro 2016 football tournament and particularly strong growth in both wagering and gaming in the second quarter, GVC Holdings generated an 11% increase in like-for-like revenue in the six months to 30 June.
Credit Suisse reviews equity strategy after Brexit vote
Credit Suisse has made a series of post-Brexit changes in its latest global equity strategy note.
Berenberg lifts ASOS target price after Q3 trading update
Berenberg has reiterated its ‘buy’ rating on ASOS and raised its target price to 5,100p from 4,100p after the fashion retailer reported better-than-expected third quarter revenues.
Metal Tiger Botswana copper venture increases in potential
Metal Tiger said the potential for its Botswana joint venture to hold copper deposits had increased further after recent drilling tests.