News And Announcements
Second round of US Covid loans forgiven at 600 Group
Diversified industrial engineering company the 600 Group announced on Friday that its three United States operations have all been granted forgiveness of their second round loans under the US Government Paycheck Protection Program (PPP), which in total amounted to $2. 2m.
In The Style founder to become chief brand officer
Womenswear brand In the Style said on Friday that founder and chief executive Adam Frisby has decided to take on the newly-created role of chief brand officer and that Sam Perkins will succeed him as CEO with effect from 17 January.
United Oil announces spudding of latest well at Abu Sennan
United Oil & Gas announced the spudding of the Al Jahraa-13 development well in the Abu Sennan licence, onshore Egypt on Friday.
Microsaic adds new capability to its technology platform
Microsaic announced the addition of a new technology capability to its platform on Friday, as part of its transition from equipment-only sales to remote detection and analysis of human diagnostics and environmental health monitoring.
FCA fines Sunrise Brokers more than £640,000
The Financial Conduct Authority has fined interdealer broker Sunrise Brokers £642,400 for "serious" financial crime control failings in relation to cum-ex trading.
Avon Protection warns over body armour revenue contribution
Avon Protection tanked on Friday after it warned the revenue contribution from its body armour segment for FY22 and beyond will be "significantly reduced" following a testing failure for one of its products and delays to product approvals.
Johnson & Johnson to spin off consumer health business
Johnson & Johnson announced plans on Friday to separate its consumer health segment from the pharmaceuticals and medical device business, creating a new publicly traded company.
Engage XR signs deal for first 'virtual reality' school
Virtual reality (VR) technology company Engage XR updated the market on the progress of its proprietary software platform ‘Engage’ on Friday, reporting that it signed an initial six-figure dollar contract to August 2023 with Optima Domi.
Horizonte Minerals reports progress in September quarter
Nickel development company Horizonte Minerals updated the market on its operations in the September quarter on Friday, having received credit approval from a syndicate of international financial institutions and two export credit agencies for a senior secured project finance facility of up to $346. 2m to fund the construction and development of Araguaia.
Quantum Blockchain upbeat on latest decision from Venice Court
Quantum Blockchain Technologies updated shareholders on Friday on the latest hearing regarding the legal action started by the plaintiff Sipiem, which was subsequently acquired by Clear Leisure 2017, against Sipiem’s previous board and internal audit committee, held before the Venice Court on 10 November.
Powerhouse partner HUI signs framework deal with Linde
Waster plastic-to-hydrogen technology company Powerhouse Energy announced on Friday that its development partner Hydrogen Utopia International (HUI) has signed a framework agreement with Linde Engineering.
Sergeant in, Byrom out as Watkin Jones CFO
Watkin Jones said on Friday that, following a successful transition, Sarah Sergeant had assumed the role of chief financial officer.
Richemont in talks to divest control of YNAP
Luxury goods giant Richemont on Friday said it was in “advanced talks” with UK online retailer Farfetch over its lossmaking Yoox Net-A-Porter business.
Bridgepoint said to be mulling Burger King UK float
Burger King UK could be floated in London next year, with reports on Friday morning that its owner Bridgepoint had roped in Bank of America and Investec for a possible initial public offering.
TheWorks expecting to trade in line despite higher freight costs
Discount books, stationery and art supplies retailer TheWorks said on Friday that it had traded stronger than expected in the first half, with a two-year like-for-like sales increase over the pre-pandemic period of 14. 5%, and total two-year sales growth of 17. 9%.
Wood Group trims full-year guidance as it launches strategic review
John Wood Group trimmed its earnings guidance on Friday morning, cutting its adjusted EBITDA margin to between 8. 5% and 8. 7%, from the 8. 7% to 8. 9% it pencilled in at its half-year results in August.
AstraZeneca holds guidance as Covid vaccine turns profitable
AstraZeneca on Friday reported $1. 05bn in third-quarter Covid vaccine sales as the not-for-profit drug added 1% to earnings in the period, while the company reiterated annual forecasts for 2021.
Redrow FY results expected to be at pre-Covid levels
Housebuilder Redrow said on Friday that 2022 full-year results were expected to be close to pre-Covid levels.
Diversified Energy sells undeveloped US shale acreage for $72m
Diversified Energy on Friday said it had sold undeveloped US shale gas acreage in Texas for around $72. 8m.
IG Group completes comprehensive debt refinancing
Online trading platform IG Group said on Friday it has successfully completed a comprehensive debt refinancing exercise and the implementation of a long-term funding structure.