Company News
VF offloads Supreme to EssilorLuxottica for $1.5bn
Vans, Timberland and North Face owner VF Corp is selling Supreme to EssilorLuxottica for $1. 5bn, just four years after the apparel conglomerate bought the streetwear brand for $2. 1bn.
Kenmare reports decent half-year production figures
Titanium and zircon producer Kenmare Resources updated the market on operations at the Moma Titanium Minerals Mine in northern Mozambique on Wednesday, reporting significant year-on-year improvements in a number of key metrics.
Helical reports solid development and letting progress
Helical updated the market on its recent trading on Wednesday, reporting significant advancements in its development projects, lettings, sales, and financial performance.
Europe open: Shares fall as UK inflation unchanged; Demant tanks on warning
European shares opened lower on Wednesday as investors digested the latest UK inflation figures which came in slightly higher than forecast, dampening hopes of a rate cut from the Bank of England, while shares in Danish hearing aid company Demant tanked after a profit warning.
Genus scales back profit outlook on China, Brazil weakness
Genus saw its share price drop sharply on Wednesday after the animal genetics group said profits this year would be lower than expected due to ongoing market challenges in China and Brazil.
Antofagasta warns on full-year production
Shares in Antofagasta came under pressure in early trading on Wednesday, after the Chilean miner warned annual production would be at the lower end of guidance.
BHP delivers record annual iron ore production
Mining and metals giant BHP has delivered record annual iron ore production for the second year in a row, with an increased contribution from its South Flank operation in Western Australia giving it a boost.
Smiths Group sells down stake in ICU Medical
Smiths Group announced the sale of 1. 2 million shares in ICU Medical on Wednesday, amounting to roughly 4. 9% of ICU Medical’s issued share capital.
Babcock profits surge despite £90m negative hit from Navy contract
Defence and aerospace group Babcock has reported a 34% surge in underlying profits in the year ended 31 March despite a £90m hit on a ship-building contract with the Royal Navy.
Team17 sees FY in line with market views
Team17 said on Wednesday that it has traded in line with management expectations in the first half.
Mitie to buy ESM Power for up to £8.5m
Mitie said on Wednesday that it has agreed to buy ESM Power, a high voltage electrical engineering business specialising in grid and power connections, for up to £8. 5m.
Rio Tinto appoints National Grid's Katie Jackson to head copper unit
Rio Tinto has appointed Katie Jackson from National Grid to lead its copper business, succeeding Bold Baatar who is moving up to become chief commercial officer at the mining giant later this year.
HSBC appoints CFO Elhedery as new CEO
HSBC has announced that its finance chief George Elhedery will move into the chief executive officer position in September, replacing outgoing boss Noel Quinn.
Reckitt Benckiser sees sales hit as US facility knocked out by tornado
Multinational consumer goods group Reckitt Benckiser on Wednesday forecast a short-term hit to sales in the US after a said a key warehouse for its Mead Johnson Nutrition business was put out of action by a tornado on July 9 which caused "significant" damage.