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US open: Major indices in the red amid rotation out of tech stocks
Wall Street stocks were in the red early on Wednesday as major indices looked set to reverse some of the gains recorded in their February rally amid a rotation out of technology stocks and some key inflation data.
UK Oil & Gas lodges appeal against Surrey County Council
UK Oil & Gas said on Wednesday that it had now lodged an appeal with the Planning Inspectorate against Surrey County Council's 15 December decision to refuse planning consent for the Loxley gas appraisal project.
Avingtrans revenue 'stable' in first half
Energy and medical engineering company Avingtrans reported “stable” revenue for its first half on Wednesday, at £54. 1m, compared to £54. 3m a year earlier.
Sale of TikTok's US business to Oracle & Walmart 'shelved indefinitely' - report
The sale of TikTok’s US operations to Oracle and Walmart has been "shelved indefinitely", according to The Wall Street Journal.
US CPI falls short of forecasts in January as vehicle prices drag
Inflation at the consumer level in the States undershot economists' forecasts last month amid the drag from falling vehicle prices.
FTSE 100 movers: Miners rally; Ocado in the red
London’s FTSE 100 was up 0. 1% at 6,536. 39 in afternoon trade on Wednesday.
Pittards reports improvement in demand towards end of 2020
Leather and luxury goods supplier Pittards updated the market on 2020 on Wednesday, reporting that its unaudited results showed revenue of around £15. 2m, with about £8. 6m of that coming in the second half, up approximately 30% on the first half.
Prezzo to shut 22 restaurants after administration
The Prezzo pizza chain will shut 22 restaurants with a loss of 216 jobs after its private equity owner bought it out of administration.
Adept Technology reinstates guidance following 'resilient' Q3
IT managed services provider Adept Technology reinstated its full-year guidance on Wednesday amid some resilient third-quarter trading.
Tyler Technologies to buy NIC in $2.3bn deal
US software provider Tyler Technologies has agreed to buy NIC in a cash deal valued at around $2. 3bn.
Restaurant owner Tasty knows no reason for share price surge
AIM-listed Tasty, which owns the Wildwood chain of restaurants, said on Wednesday that it is not aware of any reason for the surge in its share price and trading volumes.
One Media iP acquires royalty share to 21 Vision catalogue
Digital music rights company One Media iP has acquired the licensor’s share of royalties to the 21 Vision catalogue of rights, it announced on Wednesday, which contains more than 2,000 recordings.
US pre-open: Futures trade higher ahead of Powell speech, inflation data
Wall Street futures were in the green ahead of the bell on Wednesday as major indices looked set to continue on their February rally ahead of more earnings, some key inflation data and a speech from Fed chair Jerome Powell later in the day.
Europe midday: Shares find some momentum on earnings news
European shares moved higher at lunch on Wednesday's session, as investors looked for direction on US stimulus measures and the pace of vaccine rollouts across the continent.
Brexit could cause annual losses of £9.5bn for London economy
Brexit could potentially cost London’s economy £9. 5bn a year the latest research from the Mayor of London’s office revealed on Wednesday.
London midday: Gains unspectacular as investors await fresh catalysts
London stocks were in the black by midday on Wednesday as investors sifted through results from the likes of Smurfit Kappa and Dunelm, but gains were unspectacular as investors awaited fresh catalysts.
Baidu in negotiations to raise funds to start AI chip company
Chinese tech giant Baidu is in talks to raise money to start its own standalone artificial intelligence semiconductor chip company.
Cadence shares jump on Mexican lithium progress
Cadence Minerals shares jumped after the company said the start of activities at a lithium site in Mexico boded well for its two joint ventures in that country.
Sainsbury's to match Aldi prices in new battle on market share
UK supermarket Sainsbury’s said it was slashing the prices of hundreds of essential groceries to match discount rival Aldi.
Redrow resumes dividend as demand drives higher H1 profits
UK homebuilder Redrow reinstated dividends as it posted an 11% rise in first-half profit on Wednesday, as customers rushed to buy homes before the end of government incentives next month.