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Shop price deflation slows in July, BRC says
Competition continued to drive prices down in July, according to a report by the British Retail Consortium (BRC), albeit by less than in the month before.
Directors dealings: Sainsbury non-execs pick up shares
Sainsbury non-executive directors Brian Cassin and Susan Rice picked up shares in the grocer as its stock price neared its 52-week lows, despite the continued competitive pressures in the sector.
US close: Dow bounces after oil rally helps break seven-day fall
The Dow Jones snapped a seven-day losing streak on Wednesday as private sector jobs data raised expectations for the non-farm payroll report at the end of the week, abetted by a rebound in oil prices.
Swiss miner Ferrexpo's profits drop despite record sales volumes
Iron ore pellet producer Ferrexpo’s half year revenues and profits fell despite a rise in sales volumes to record highs.
Europe close: Banks buoy main equity benchmarks
European stocks wavered on Wednesday, but banks put in a solid performance following well-received earnings from the likes of Standard Chartered, HSBC, Societe Generale and Credit Agricole.
Federal Reserve fines Goldman Sachs $36.3m after document leak
United States investment bank Goldman Sachs has been fined $36. 3m by the Federal Reserve following accusations that it obtained documents from the US central bank for its own benefit.
London close: Stocks fall after weak services PMI
London stocks were in the red on Wednesday as a weak report on the UK services sector fuelled bets of an interest rate cut by the Bank of England.
Non-Standard Finance predicts further loan growth post Brexit
Sub prime lender Non-Standard Finance said it saw Brexit as a growth opportunity as mainstream banks tighten their credit further as it reported it's first revenue figures since incorporating in 2014.
Firefighter dies after Emirates plane crash-lands at Dubai Airport
An Emirates airline flight coming from India crash-landed at Dubai International Airport on Wednesday, with one firefighter being killed trying to fight a subsequent blaze after all passengers and crew had escaped safely.
StatPro swings to loss as cloud services take flight
Portfolio analysis tools provider StatPro Group posted its interim results for the six months to 30 June on Wednesday, with group revenue up 14% to £17. 55m from £15. 44m a year ago.
US oil futures jump after weekly inventory data
Energy futures jumped after a report on US crude and oil-product stockpiles revealed a large drop in the latter.
Small cap round-up
Specialist cancer drug discovery and development business Sareum announced on Wednesday that the Chinese Patent Office and the Hong Kong Patents Registry have issued notifications that patents will be granted for inventions associated with the company’s Aurora+FLT3 Kinase Inhibitor programme.
NetScientific's Vortex Biosciences won licence to four patents from Harvard
Biomedical and healthcare technology company NetScientific’s portfolio business, Vortex Biosciences, won a license to four patents from Harvard University.
Sareum programme receives patents in Hong Kong and China
Specialist cancer drug discovery and development business Sareum announced on Wednesday that the Chinese Patent Office and the Hong Kong Patents Registry have issued notifications that patents will be granted for inventions associated with the company’s Aurora+FLT3 Kinase Inhibitor Programme.
InterQuest acquires US rival Rees Draper Wright
InterQuest took a majority stake in Rees Draper Wright with a view to expanding its footprint in the States and Europe.
Former MoD adviser says Navy warships should be sent to Gibraltar
Britain should send Navy warships to Gibraltar to stave off the threat posed by Spain's push for joint sovereignty, according to a former adviser for the Ministry of Defence.
NWF Group improves earnings despite challenging market
NWF Group reported a “robust performance in challenging market conditions” in its final results for the year to 31 May on Wednesday, with a revenue decrease of 5. 4% to £465. 9m reflecting lower oil prices in the Fuels division and the impact of lower commodity prices in Feeds.
Fruit and veg could become more expensive due to Brexit
Fruit and vegetables could become more expensive in the UK if foreign seasonal workers, who pick British produce, are barred from the country post-Brexit.
MTI Wireless Edge revenues rise on acquisition
Flat panel broadband antenna manufacturer MTI Wireless Edge announced its unaudited results for the six months to 30 June on Wednesday, with revenue increasing 41% year-on-year to $11. 3m, from $8. 0m, due to the acquisition of Mottech.
Lloyd's Novae remains "confident" about Brexit as profit soars
Lloyd's insurance underwriting company Novae said it was cautious about Brexit but remained “confident” that a London insurance company outside of the EU can flourish, as it reported a rise in half year profits.