News And Announcements
Klarna edges closer to $20bn float - report
Buy now pay later firm Klarna has reportedly cleared a crucial hurdle on its journey towards a stock market flotation expected to value it at as much as $20bn (£15. 9bn).
Mears Group wins £125m contract in North Lanarkshire
UK housing services providers Mears Group has won a contract with North Lanarkshire Council worth £125m, the company announced on Tuesday.
OPEC holds production forecasts, plans to use OPEC+ outlook
OPEC held global oil demand forecasts on Tuesday, adding that there was some upside potential for economic growth this year and beyond, and said it would also start using production from the wider OPEC+ group for forecasts.
IQGeo to be taken private by KKR in £316m deal, shares surge
Shares of IQGeo Group surged on Tuesday as it agreed to be taken over by private equity firm KKR in a £316m deal.
Foxconn Q1 profits jump 72% as AI server demand soars
Taiwanese electronics giant and iPhone assembler Foxconn on Tuesday reported a huge surge in first-quarter profits as it delivered a confident outlook for the current quarter due to strong demand for its AI servers.
Serica Energy taps Chris Cox as its new CEO
Independent upstream oil and gas firm Serica Energy announced the appointment of Chris Cox as its new chief executive officer on Tuesday, effective 1 July.
Hutchmed China launches two cancer treatment trials
Hutchmed China announced the start of two significant clinical trials on Tuesday, aimed at addressing critical unmet needs in cancer treatment.
Revenue rises, profits set to shrink for Gateley
Professional services group Gateley said in an update on Tuesday that it expected robust revenue growth of 5. 7% for the financial year just ended, surpassing £172m, compared to £162. 7m in the prior year.
Renew Holdings reports another record trading performance
Engineering services group Renew Holdings reported another record trading performance in its half-year results on Tuesday, with revenue rising 17. 2% year-on-year to £552. 8m.
Lobby group CBI to cut more jobs
The Confederation of British Industry is to further reduce its workforce, it was reported on Tuesday, as it continues to recover from last year’s sexual misconduct scandal.
CMA mulling over Pennon-SES deal
Watchdog the Competition and Markets Authority said on Tuesday that it may accept Pennon Group's solutions to address concerns regarding the water utility outfit's purchase of Sutton and East Surrey Water, potentially clearing a path for the deal to go through.
Home Depot Q1 revenue beats forecasts, comparable sales miss
Home Depot reported a slight dip in first-quarter comparable sales on Tuesday, although its earnings per share of $3. 63 slightly surpassed analysts' expectations of $3. 60.
Amaroq Minerals makes strong progress in first quarter
South Greenland-focussed mine developer Amaroq Minerals reported decent operational progress in its first quarter on Tuesday, as it maintained a robust total liquidity position of $96. 31m in cash reserves, undrawn revolving credit facilities, and available funds.
Luceco revenue, profits rise in first quarter
Wiring accessories, electric vehicle chargers, LED lighting and portable power products specialist Luceco reported strong first-quarter revenue growth on Tuesday, rising 6. 2% year-on-year to £51m, or 4. 5% on a like-for-like basis.
Aptitude Software confident in full-year performance
Aptitude Software said in an update on Tuesday that it was confident in its performance for 2024, as ongoing organisational changes yielded positive progress, particularly in accelerating Fynapse readiness and delivery, supported by strategic partnerships.
Treatt strikes upbeat tone for full year
Extracts and ingredients specialist Treatt confirmed full-year guidance on Tuesday, after interim operating profits jumped.
Virgin Money delivers continued momentum in H1, Q2 trading seen broadly in line
Lender Virgin Money said on Tuesday that it has delivered "continued business momentum during H1", with trading in Q2 broadly as anticipated.
Revolution Bars sale process yields no takeover proposals
Revolution Bars Group shares were sinking on Tuesday morning, after the company issued an update on the formal sale process, first announced on 10 April.
Shares slide as Midwich warns on profits
Shares in Midwich Group fell sharply in early trading on Tuesday, after the audio visual specialist warned on profits.
Currys lifts full-year profit expectations
Electricals retailer Currys lifted its full-year profit expectations on Tuesday as it hailed a return to like-for-like sales growth.