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Volkswagen to cut up to 30,000 jobs globally to reduce expenses
German car-maker Volkswagen has reached an agreement with employees that will see 23,000 jobs cut initially, a figure which could rise to 30,000, representing 5% of its global workforce.
JPMorgan Chase agrees $264m settlement in China bribery case
US investment bank JPMorgan Chase is set to fork out $264m to settle a bribery probe based on its China operations, after it was found to have given jobs to family members of officials in the country to gain business.
Flybe flies higher on HSBC upgrade to 'buy'
HSBC upgraded Flybe to ‘buy’ from ‘reduce’ and lifted the price target to 55p from 20p, saying the company is in a substantially better place that it previously thought.
Cape warns of increased risks from asbestos litigation claims
Although its full year results are likely to beat market expectations, shares in Cape have fallen to their lowest in seven and a half years as the industrial services group warned of "increased risk" of adverse impact from industrial disease litigation claims over its old asbestos factory.
Draghi suggests monetary stimulus will continue
European Central Bank President Mario Draghi hinted on Friday that the central bank is likely to extend its €1. 7trn bond-purchase programme next month.
Motif Bio aiming for $25m in transatlantic fundraise
Clinical stage biopharmaceutical company Motif Bio announced the pricing of its underwritten initial public offering of 2,438,491 American Depositary Shares and 1,219,246 warrants over ADSs on Friday, at a public offering price of $6. 98 per ADS and warrant combination, before underwriting discounts and commissions.
Fuller, Smith & Turner H1 revenue up 11%
Brewer Fuller, Smith & Turner posted a rise in first-half pre-tax profit as revenue grew, thanks in part to a strong performance in its managed pubs and hotels.
CPP Group's full year profit to be ahead of of expectations
Shares in CPP Group, a financial service assistance business, soared above 40% on Friday, as the company updated its operating profit expectations for the year.
Frontier Developments launches second self-published game
AIM-listed game developer Frontier Developments has released its second self-published franchise on Thursday.
Dorcaster offering $23.5m for Escape Hunt Group
Dorcaster announced on Friday that it has entered into an exclusivity agreement which provides it with the exclusive right to negotiate for the acquisition of the entire issued share capital of Escape Hunt Group, which it described as a leading global provider of live ‘escape the room’ and ‘exit game’ experiences.
Sirius Petroleum signs well management contract for Nigeria oil field
Oil and gas investor Sirius Petroleum has signed a well management contract with Add Energy Group, for a multi-well campaign as part of an offshore development in Nigeria.
Europe open: Stocks nudge higher but resources cap gains
European equity markets were a touch higher in early trade as a weaker euro boosted exporters, but basic resources capped gains as a stronger dollar weighed on the sector.
Oxford Instruments sells embattled superconducting unit
Oxford Instruments has offloaded its superconducting wire unit for $17. 5m (£14. 1m) cash, relieving the group of one of the main sources of its September profit warning.
London open: FTSE muted as investors mull US rate hike prospects
Stocks in London were little changed in early trade as investors continued to mull the prospect of a December rate hike by the Federal Reserve.
Personal Assets Trust lifts NAV but remains cautious on future
Investment company Personal Assets Trust reported increased net assets despite the uncertain economic climate, which has led it to take a cautious stance about the future.
Randgold, Newcrest sign agreement on Cote d'Ivoire project
Randgold Resources and Newcrest have signed an agreement to establish a joint venture for the exploration, development and mining of gold and other mineral resources in the south-east of Côte d'Ivoire.
Grafton Group to buy Dutch ironmonger
Irish builders merchant Grafton Group has agreed to buy Dutch ironmonger Gunters en Meuser in order to increase its foothold on the continent.
Jefferies ups Premier Oil to 'buy', expects full debt refinancing to go through
Jefferies upgraded Premier Oil to ‘buy’ from ‘hold’, keeping the price target at 88p, as it reckons the company’s full debt refinancing will go through.
Favourable forex pushes Bodycote revenues higher
Bodycote issued a trading update for the period from 1 July to 31 October on Friday, with group revenue 12. 7% higher than the same period last year and 3. 1% lower at constant exchange rates, against somewhat weak comparables.
Greencoat UK Wind raises £147m from share issue
Wind farm infrastructure fund Greencoat UK Wind (UKW) said it had raised £147m through the issue of 133. 6m new ordinary shares at 110p each.