Rotork taps Kiet Huynh for CEO, Assura completes $105.0m in acquisitions during Q3

Stocks to watch

Manufacturer Rotork tapped Kiet Huynh to take over as chief executive officer on Monday, with immediate effect.

Huynh, the managing director of Rotork's water and power and its chemical, process and industrial divisions, will succeed Kevin Hostetler, who informed the board of his plans to return to the US in August 2021.

Primary care property investor Assura said it had completed £105.0m in acquisitions during the third quarter using proceeds from its November fundraising.

The FTSE 250-listed company added on Monday that it had an immediate development pipeline of 22 schemes, totalling a further £166.0m - up from £145.0m in the previous three months.

Newspaper round-up

Manufacturers have warned that Brexit will add to soaring costs facing British industry, amid concerns that customs delays and red tape will rank among the biggest challenges for firms this year. ake UK, the industry body representing 20,000 manufacturing firms of all sizes from across the country, said that while optimism among its members had grown, it was being undermined by the after-effects of the UK's departure from the EU. - Guardian

A powerful French arms company is facing allegations that it used a secret and illicit system of paying middlemen to secure lucrative international contracts. The claims against Thales, raised by a lawsuit filed in a commercial court near Paris, could jeopardise a much-needed French defence deal to India. - Telegraph

The economy will receive a much-needed boost from business investment this year with a record proportion of finance directors ready to prioritise funds for expansion, a survey says. 37% of chief financial officers surveyed by Deloitte said that increasing capital expenditure, the money used to buy fixed assets such as land, machinery or buildings, was a priority for 2022. It is the highest figure recorded by the accounting firm in its quarterly survey since it first asked the question in 2009. - The Times

Britain faces a housing crisis in the wake of the pandemic as confusion about planning rules and shortages of staff undermine government targets to build 300,000 homes a year, according to a House of Lords committee. A retreat from housebuilding by smaller companies must be tackled by ministers to reduce the shortage of homes, the cross-party group of peers said. - Guardian

Mike Ashley has launched legal action against the City investor Amanda Staveley after she oversaw a £305.0m takeover of Newcastle United Football Club. Mr Ashley, who controls the Sports Direct retail chain, has issued a claim via his company St James Holdings in the High Court against Ms Staveley and her husband Mehrdad Ghodoussi. - Telegraph

Unsecured creditors of NMCN are facing losses of £115.0m from the collapse of the 75-year-old UK-listed construction group, whose demise has triggered a regulatory investigation. Debts to unsecured creditors have almost doubled from an estimate of £60.0m in October, shortly after the company appointed administrators at Grant Thornton, which has sold off NMCN's core units in pre-pack deals. - The Times

US close

Major indices were all in the red at the end of trading on Friday after December's all-important non farm payrolls figures came in well and truly short of expectations.

At the close, the Dow Jones Industrial Average was down 0.01% at 36,231.66, while the S&P 500 was 0.41% softer at 4,677.03 and the Nasdaq Composite saw out the session 0.96% weaker at 14,935.90.