Fidelity Top Stories
Philip Green's Arcadia rejects £50m loan offer from Frasers Group
Frasers Group, formerly Sports Direct, confirmed on Monday that Philip Green’s Arcadia retail group has rejected its offer of a lifeline loan of up to £50m.
Washington to add China's SMIC and CNOOC to blacklist
The Trump administration is poised to add Chinese chipmaker SMIC and oil and gas producer CNOOC its blacklist.
Moderna to seek regulatory approval for Covid-19 vaccine in US and EU
Moderna will ask authorities in the US for Emergency Use Approval for its Covid-19 vaccine.
Intuitive Investments to seek initial public offering on AIM
Intuitive Investments Group is pursuing a flotation on the London Stock Exchange's AIM market to raise funds for its international expansion.
GardaWorld extends 'full and fair' offer for G4S
GardaWorld has extended its hostile £2. 9bn offer for G4S to mid-December and indicated it would not be pressured into raising its bid.
Petropavlovsk appoints Highland Gold's Alexandrov as CEO
Russian miner Petropavlovsk said it had appointed Highland Gold boss Denis Alexandrov as its new chief executive.
European state aid rules should be eased to help lenders, ECB official says
A top European Central Bank official said state aid rules should be eased and bank deposits protected to help lenders through the Covid-19 pandemic.
Wetherspoon says 366 pubs will be shut under new Covid rules
Pub chain Wetherspoon said half of its pubs would remain closed under the UK government's tiered system when the national lockdown ends on December 2.
Fuller Smith & Turner says workforce 20% lower as Covid hits profits
UK pub company Fuller, Smith & Turner said staff levels were 20% lower since the start of the new financial year as it swung to an interim loss due to the coronavirus pandemic.
Mitchells & Butlers axes 1,300 jobs as sales slump on new Covid curbs
Pub group Mitchells & Butlers said it had made 1,300 people redundant since the end of September as sales slumped under new Covid-19 restrictions in England.
G4S to resume divi payments in 2021; Rejects GardaWorld bid again
Private security firm G4S, currently fending off a £3bn takeover bid from smaller rival GardaWorld, said it planned to resume dividend payments next year and urged shareholders once again to reject overtures from its unwanted suitor.
Costs cuts pay off for de La Rue as profits soar
UK banknote and passport printer De La Rue reported a huge rise in first-half profit on Wednesday, driven by cost cuts under its turnaround plan and said it was in early talks with governments on Covid-19 immunity certificates.
Virgin Money takes £501m hit from Covid-19 bad debt charge
Virgin Money reported a slump in underlying profits after taking a £501m impairment charge as Britain’s economy braces for the coronavirus crisis fallout.
Kingfisher buys online platform Needhelp for €10m
B&Q owner Kingfisher said it had bought online European home improvement services platform NeedHelp for €10m (£9m).
SMMT warns of 'severe' blow to UK auto industry from no-deal Brexit
Britain and Europe's automobile industry could yet be dealt another severe blow if Brussels and London cannot reach a Brexit deal and weaken the sector's ability to keep pace with the revolution towards green technology, the country's lobby group for the sector said.
Airlines could lose $157bn in 2020-21 - IATA
Airlines could lose a total $157bn this year and next, the International Air Transport Association warned on Tuesday.
Pets at Home profits up as strong trading continues in Q3
Pets at Home Group reported higher interim profits and maintained its dividend after a strong second quarter as locked down Britons sought solace in their furry friends during the Covid-19 pandemic.
Compass profits slump due to Covid hit
Contract catering giant Compass forecast a 2. 5% underlying operating margin in the first quarter of 2021 as annual profits were almost wiped out due to the closure of half its business during the coronavirus pandemic.
Phoenix Group confirms expressions of interest for European business
Phoenix Group Holdings confirmed press speculation regarding the possible sale of its European businesses.
GSA ascertains Joe Biden is the winner of the 2020 US elections
The General Services Administration has ascertained that the Democratic party's Joe Biden was the "apparent winner" of the US presidential elections, in effect signalling the start of the transition period between the Trump administration and his own.