Company News
EG Solutions sees continued business momentum year-to-date
EG Solutions's chief sounded a confident note on the company's outlook, pointing to a sustained momentum for contract signings year-to-date and good visibility on revenues.
Thursday preview: UK retail in focus with ONS data and Next finals
Retail is the focus for Thursday with official UK retail sales data and high street giant Next due to report is full year results.
Small cap news round-up
EG Solutions's chief executive was confident on the company's outlook and pointing to a sustained momentum for contract signings year-to-date, as well as good visibility on revenues.
Airlines fly lower amid EU Brexit warning and electronics ban
Airline shares tumbled on Wednesday after news of potential route restrictions post-Brexit combined with a US and UK ban introduced new restrictions on electronic devices for certain flights.
BT fined £0.88m after Plusnet division kept billing ex-customers
BT’s budget-oriented retail brand Plusnet was fined £0. 88m by telecoms regulator Ofcom on Wednesday, for continuing to bill more than a thousand ex-customers.
Frankfurt gunning for London-based EU bank regulator
Germany was gunning for a new EU super-agency on Wednesday, as it emerged it wanted to snatch the London-based European Banking Authority in the wake of Brexit to and merge it with the EU’s insurance authority, which is already based in Frankfurt.
Sears sparks fears over survival possibilities, stock price tumbles
US retailer Sears Holdings said on Wednesday that there is “substantial doubt” about whether it can secure its future in a fast-moving retail sector, leading to its shares tumbling more than 15%.
Wednesday broker round-up
Berendsen: Credit Suisse downgrades to Underperform with a target price of 700p.
Brussels to block LSE-Deutsche Borse merger in coming days, reports say
London Stock Exchange Group's proposed merger with Deutsche Boerse will be blocked by European Commission antitrust regulators, according to reports on Wednesday.
Top UK bosses earning 190 times more than average employee in UK
Chief executives of the UK's top companies are trousering an average wage that is 190 times bigger than the salary an average British employee takes home every year, according to new research.
LXi exchanges contracts on Haverhill Travelodge
LXi REIT announced on Wednesday that it exchanged contracts to acquire the Travelodge hotel at Haverhill, Essex.
UK bank cheques to clear within 24 hours by 2018
Britain's antiquated cheque clearing system will finally enter the 21st century later this year when new imaging technology will allow them to clear within a day instead of the current six.
Hermes posts €1.1bn full profit as handbags, saddlery soar
Posh handbag maker Hermes said net full year profits rose 13% to €1. 1bn, with “remarkable” growth in its leather goods and saddlery division.
Results round-up: Kingfisher, Savills, Ferrexpo, Softcat
Annual results from retailer Kingfisher beat the City's profit forecasts thanks to strong growth from its Screwfix chain, but while the transformation of B&Q and French businesses continued, sales began to slow in the second half amid concerns of a consumer slowdown.
Broker tips: Berendsen, Wood Group, Hunting, Schroders
Credit Suisse downgraded its stance on commercial laundry group Berendsen to 'underperform' from 'outperform' and slashed the price target to 700p from 1,200p as its 2017-19 earnings per share estimates fall 17% to 31%.
Thames Water fined record £20m for pumping sewage into rivers
Thames Water was fined a record £20m on Wednesday after pumping 1. 4bn litres of raw sewage into the River Thames.
AkzoNobel rejects second offer from PPG Industries
Dulux owner AkzoNobel has rejected a second unsolicited takeover bid from US chemicals manufacturer PPG Industries, saying it substantially undervalues the company.
Nike earnings sprint higher but shares hamstrung by cagey outlook
US sportswear behemoth Nike Inc limped into the start of Wednesday's session after disappointing investors with soft sales numbers and a cautious outlook statement.
Franchise Brands confirms potential acquisition
Franchise Brands confirmed on Wednesday that it is in advanced stages regarding a potential acquisition that would constitute a reverse takeover under AIM rules.
Eckoh wins largest contract to date
Global provider of secure payment products and customer contact solutions, Eckoh, announced on Wednesday that it won a new $3. 7m five-year contract to provide secure payment services to a large unnamed US telecommunications provider.