News And Announcements
Conviviality sells wholesale arm to C&C, talks continue over retail chains
Collapsed drinks business Conviviality sold its wholesale business to Magners cider maker C&C Group on Wednesday, having earlier appointed administrators and confirmed talks were ongoing with "a number" of parties interested buying its retail chains.
Spotify shares drop 8.5% in their second day of trading
The music streaming company's shares fell by as much as 8. 5% on their second day of trading, opening at $140 apiece and below Tuesday’s closing level.
Sequoia draws down from RBS leverage facility, proposes equity issue
Guernsey-based closed-ended fund Sequoia Economic Infrastructure Income Fund has drawn a hefty chunk of its £100m multi-currency leverage facility with the Royal Bank of Scotland in order to take advantage of what it considered to be an "attractive pipeline of investment opportunities".
Vauxhall to build new van at Luton plant, saving over 1,000 jobs
PSA, Vauxhall’s French parent company announced the next Vivaro van would be built at its Luton plant, securing 1,400 jobs past 2030.
Intercede wins $4m US government order, sees FY revenue up 10%
AIM-listed software and service company, Intercede, said on Wednesday that full-year revenue is expected to be up 10% on the previous year, as it announced the receipt of a US Federal Government order totalling $4m.
Sainsbury's close to losing second spot to resurgent Asda
Tesco and Morrisons outperformed their major supermarket rivals in March, while a stumbling Sainsbury's is close to losing its second place to a resurgent Asda.
Hydrodec CEO Ellis quits amid management shake-up
Hydrodec’s chief executive, Chris Ellis, has left because a family member is ill in a move that coincides with a wider management shake-up at the company.
David Wood replaces Newton-Jones as Mothercare CEO
Retailer Mothercare, which announced mid-March that it had been given a little breathing space by its lenders, has appointed David Wood as its new chief executive officer with immediate effect, as Mark Newton-Jones steps down.
OnTheMarket reports doubling of website visits since IPO
OnTheMarket said it more than doubled the number of visits to its website in the first full month after its initial public offering.
Topps Tiles in the red as quarterly LFL sales drop
Tile specialist Topps Tiles was under the cosh on Wednesday as it posted a jump in first-half sales but a drop in quarterly like-for-like sales.
Tullow, United Oil launch seismic programme at Jamaican asset
Tullow Oil and exploration and development company United Oil and Gas have begun seismic acquisition programme at their Walton Morant asset in Jamaica.
Entertainment One reports robust trading for 2017
Entertainment One reported solid trading in 2017 after the popularity of Peppa Pig and PJ Masks helped make up for weakness at its film arm.
Smith & Nephew replaces retiring Bohuon with former J&J man
Smith & Nephew has appointed a new chief executive with fresh M&A experience as Olivier Bohuon departs after a seven-year stint at the head of the artificial shoulders and knees group.
Renewi sees full-year results in line with expectations
FTSE 250 waste-to-product company Renewi said on Wednesday that its results for the year to the end of March 2018 are expected to be in line with the board's expectations in terms of underlying trading and cash.
Ryanair traffic up 6% in March
Budget airline Ryanair posted a 6% rise in March traffic on Wednesday as the load factor edged up.
Wizz Air traffic jumps 25% in March
Low-cost airline Wizz Air posted a 25. 2% jump in passenger numbers for March as the load factor ticked higher.
WPP orders independent inquiry into Sorrell's conduct
WPP said it had commissioned an independent investigation into an allegation of personal misconduct against chief executive Martin Sorrell.