Company News
Wednesday preview: US CPI in focus
All eyes in the middle of the week will be on the latest US Consumer Price Index data covering the month of April.
Purplebricks no longer likely to generate cash in FY24, shares tumble
Purplebricks tanked on Tuesday after the estate agent said it no longer expects a return to cash generation in early FY24 and warned that any potential sale of the business would be expected to deliver returns to shareholders "materially below" the current share price.
Direct Line warns over rising motor claims
Direct Line said on Tuesday that average renewal premiums rose in the first quarter but warned that rising claims in its motor segment will put pressure on earnings.
Microsoft's LinkedIn to cut more than 700 workers
Microsoft subsidiary LinkedIn announced that it would be reducing its workforce by more than 700, becoming the latest US technology name to make layoffs.
Tempur Sealy to buy Mattress Firm in $4bn deal
Tempur Sealy International said on Tuesday that it has agreed to buy Mattress Firm in a cash and stock deal valued at around $4bn.
Novavax to cut global workforce by a quarter
Novavax is to cut a quarter of its workforce and slash spending, the US biotech said on Tuesday, as it looks to manage costs amid waning demand for its Covid vaccine.
Director dealings: AstraZeneca CFO makes $1.5m sale, IHG chair buys in
At the top of the list of FTSE 350 director sells on Tuesday was AstraZeneca, whose chief financial officer sold almost $1. 5m worth of the company’s American depositary shares.
Ryanair agrees $40bn deal with Boeing on 300 new planes
Ryanair has agreed a huge $40bn deal with Boeing on 300 new aircraft purchases over the next decade, the two companies said on Tuesday.
Osirium Technologies makes good first-quarter progress
Cloud-based cybersecurity specialist Osirium Technologies reported positive first-quarter trading in an update on Tuesday.
Capital Metals jumps on non-binding deal with LB Group
Mineral sands specialist Capital Metals has signed a memorandum of understanding (MoU) with titanium dioxide pigments and sponge manufacturer LB Group, it announced on Tuesday.
Pearson hails opportunities in artificial intelligence
Pearson hailed the opportunities offered by Artificial Intelligence in a strategy update.
Plant Health Care gets first stage of Brazil approval for 'PREtec' product
Plant Health Care announced on Tuesday that its new ‘PREtec’ product, PHC68949, has received the first stage of regulatory approval for commercial use in Brazil.
UK regulator backs Viasat Inmarsat merger
The UK regulator has given the green light to the $7. 3bn merger between rivals Viasat and Inmarsat, it was confirmed on Tuesday.
Tesco chair accused of inappropriate behaviour - report
The chair of Tesco has been accused of inappropriate behaviour, it was reported on Tuesday.
Midwich grows ahead of market in 2022
Global specialist audio visual distributor Midwich Group said in an update on Tuesday that while the pro AV market grew at an estimated 10. 5% in 2022, it achieved record revenue, increasing by more than 20% organically and over 40% in total.
Deloitte faces probe over Joules audit
The UK's accounting regulator has started a probe into Deloitte's audit of clothing retailer Joules Group.
Lower oil prices dent profits at Saudi Aramco
Energy giant Saudi Aramco reported lower first-quarter earnings on Tuesday, after oil and gas prices fell back from historic highs.
WANdisco names former Sage boss interim chief executive
Scandal-hit software firm WANdisco said on Tuesday that it has appointed tech veteran Stephen Kelly as interim chief executive.
Civitas Social Housing agrees takeover by CK Asset Holdings, shares surge
Civitas Social Housing surged on Tuesday after it agreed to be bought by Wellness United Limited - a wholly-owned subsidiary of CK Asset holdings - in a £485m deal.
UK retail sales strengthen in April
Retail sales pushed higher in April, industry research showed on Tuesday, although shoppers took home fewer items as inflation continued to bite.