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UK shop price inflation hits highest point since March 2013
Shop prices have reached a six-year high, data published on Wednesday showed, as retailers started to pass the cost of a weaker pound and higher oil prices onto consumers.
Gran Tierra subsidiaries to buy Colombian assets from Vetra
Gran Tierra Energy announced on Wednesday that its indirect subsidiaries, Gran Tierra Resources and Gran Tierra Energy Colombia, as well as its indirect partially-owned subsidiary Southeast Investment Corporation, have entered into sale agreements with Vetra Energía, and Vetra E&P.
Experian and ClearScore abandon merger plans
Credit data company Experian said on Wednesday that it and rival ClearScore have ditched their proposed merger as it’s unlikely to get the green light from the competition watchdog.
Huawei and Samsung reach settlement in two-year patent dispute
Huawei Technologies and Samsung Electronics have concluded their two-year patent battle, settling the dispute out of court.
CapCo losses widen on Brexit worries
Full year pre-tax losses widened at Capital & Counties Properties to £119. 3m from £62. 5m as both net asset value and net rental income came in lower on the back of Brexit worries.
SSE to pay over £0.7m after overstating feed-in tariff costs
SSE will pay more than £0. 705m to the feed-in tariff levelisation fund and in redress, it was announced on Wednesday, after the energy supplier overstated to Ofgem the costs it incurred through making feed-in tariff payments to eligible low carbon generators.
Pantheon International performance remains strong in first half
Pantheon International reported a 10. 7% improvement in its net asset value per share in its half-year results on Wednesday, to 2,674. 3p.
Image Scan sales fall short of expectations
X-ray screening systems supplier Image Scan generated sales below management expectations in the first half of its trading year, leading the group to a "renewed focus" on organic growth after failing to get investors to back its acquisition plans.
Unite Group pleased with focus on 'higher quality' universities
Student accommodation provider The Unite Group posted a 25% improvement in its EPRA earnings in its annual results on Wednesday, to £88. 4m, or 34. 1p per share.
Laura Ashley urges shareholders to reject 'opportunistic' takeover bid
Laura Ashley has urged shareholders to take no action regarding the takeover bid from Flacks Group earlier in the week, stating that the offer "substantially" undervalued the group.
London open: Stocks slide as investors digest Powell comments; Metro Bank tanks
London stocks fell in early trade on Wednesday as investors digested some mixed comments from Federal Reserve chairman Jerome Powell, with investors also giving an unenthusiastic reception to results from ITV and Metro Bank and a profit warning from Ted Baker.
Riverstone Energy swings to a loss as it seeks to diversify
Riverstone Energy reported a 13% fall in its dollar-denominated net asset value per share in its final results on Wednesday, to $17. 91, which it said was largely driven by the Hammerhead and Centennial parts of its portfolio.
St James's Place profits rise but warns of moderate fund flows
Wealth manager St James’s Place (SJP) on Wednesday said full year operating profits rose 9% to £1bn but warned of moderate growth in fund flows due to global economic uncertainty.
GVC signs long-term content deal with Playtech
Sports betting and gaming group GVC Holdings announced on Wednesday that it has signed an agreement with Playtech covering a new long-term commercial relationship between the two groups.
Wednesday newspaper round-up: Retail workers, Metro Bank, Facebook, Wonga
Retail workers in Britain are more likely to face unemployment rather than finding another job amid mounting numbers of job losses on the high street, with younger staff hardest hit, according to a report. The study by the Resolution Foundation thinktank found the retail industry now has the highest rate of redundancies of any sector of the economy, amid the rapid rise of shop closures across the country. – Guardian.
Rio Tinto in bumper $4bn special dividend
Anglo-Australian mining giant Rio Tinto rewarded shareholders on Wednesday with a bumper special dividend worth a total $4bn as part of $7bn payout.
M&S agrees Ocado JV, Rio Tinto unveils bumper divi
London open The FTSE 100 was being called 29 points lower by City traders on Wednesday, having closed the previous session at 7,151. 12.
Weir profits boosted by higher equipment orders
Full year pre-tax profits at engineering group Weir rose 22% to £310m as orders increased 15% on a like-for-like basis to £2. 5bn.