Company News
BP CEO Bernard Looney resigns over past relationships
BP said on Tuesday that chief executive Bernard Looney has resigned with immediate effect less than four years into the job, after failing to fully disclose past relationships with colleagues.
Wednesday preview: US CPI, UK GDP in focus
The market spotlight in the middle of the week will be squarely on the latest U. S. consumer price data.
Poundland set to buy 71 Wilko locations
Another 71 Wilko stores were set to change nameplates, it emerged on Tuesday afternoon, as Poundland stepped in to acquire the locations.
Smurfit Kappa tumbles after agreeing merger with WestRock
Smurfit Kappa shares tumbled on Tuesday after the company said it had agreed to merge with US rival WestRock in a deal that will create a $20bn packaging giant.
Director dealings: Mears chairman picks up shares, Croda secretary involved in sale-and-purchase
Mears Group was among those on the list of director purchases on Tuesday, after its chairman picked up a large tranche of shares.
Barclays to cut more than 450 jobs, says Unite
Barclays is cutting more than 450 jobs, the Unite union announced on Tuesday.
Northern Bear reports promising recent trading
Building and support services provider Northern Bear released a promising trading update on Tuesday, ahead of its annual general meeting taking place later in the day.
Reabold Resources ups stake in LNEnergy
Oil and gas investor Reabold Resources announced a significant addition to its shareholding in LNEnergy on Tuesday, as it invested £0. 25m to increase its stake by an additional 1. 6% through the subscription of 18 new ordinary shares at a price of £13,889 each.
Mattioli Woods hikes total dividend after year of growth
Wealth and asset management specialist Mattioli Woods reported a 2. 7% increase in total client assets in its final results on Tuesday, reaching £15. 3bn.
Hutchmed reports progress on two oncology fronts
Hutchmed China reported significant strides in oncology research on Tuesday, completing patient enrollment for a bridging study of tazemetostat, and announcing pivotal results for the phase 3b clinical trial of savolitinib.
German investor sentiment unexpectedly improves in September - ZEW
Investor sentiment in Germany unexpectedly improved in September, according to a survey released on Tuesday.
Keywords Studios warns of Hollywood strikes after strong first half
Video game creative and technical services provider Keywords Studios reported a 19. 4% increase in first-half group revenue on Tuesday, reaching €383. 5m thanks to a combination of robust organic growth and strategic acquisitions.
IQE swings to loss in first half
IQE said on Tuesday that it swung to a loss in the first half as the recovery in the semiconductor industry is taking longer than expected.
FRP Advisory buys Sheffield-based Wilson Field Group
FRP Advisory Group announced the acquisition of Sheffield-based Wilson Field Group on Tuesday, in a deal worth £4. 8m, with a payment structure consisting of £3. 1m in cash and new shares worth £1. 7m.
Alpha Group agrees acquisition of multibank platform Cobase
Alpha Group International announced its intention to acquire 85% of Financial Transaction Services on Tuesday, which trades as the multibank connectivity platform Cobase.
Smart Metering Systems pleased with first half operations
Smart Metering Systems reported a robust performance for its first half on Tuesday, with its index-linked annual recurring revenue (ILARR) standing at £110m on 30 June 2023, making for a 13% rise from 31 December, and 18% from the same point last year.
JTC looking ahead ambitiously after strong first half
JTC reported a solid interim financial performance on Tuesday, recording 30. 6% growth in revenue to £121. 5m.
Metro Bank hits bump in quest for AIRB approval
Metro Bank updated the market on its capital planning on Tuesday, reporting that its application for the Advanced Internal Ratings-Based (AIRB) system in relation to residential mortgages had hit a bump.
Fevertree cites elevated glass costs as H1 profits drop; cuts outlook
Tonic maker Fevertree Drinks cut its full-year outlook on Tuesday as it reported a fall in first-half profits, with margins dented by "materially elevated" glass costs.
EKF Diagnostics cuts guidance after installation delays
Shares in EKF Diagnostics fell on Tuesday morning after the medical diagnostic products manufacturer warned that increasing its fermentation capacity is taking longer than planned, and will result in a slower-than-expected acceleration in revenue growth over the medium term.