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Lastest Finance News

IN BRIEF: BP Marsh invests GBP2.5 million for stake in start-up SRT

30th Oct 2024 14:58

BP Marsh & Partners PLC - London-based private equity firm, investing in early-stage financial services businesses - Buys 30% stake in SRT & Partners Ltd, a London-based start-up Lloyd's and London Market broker, which aims to provide clients with specialist broking and underwriting services and to grow both organically and by acquisition. The investment by BP Marsh in the cumulative preferred ordinary shares of SRT is provided as a mixture of equity and loan, totalling GBP2.5 million. SRT has used the funds to make to two acquisitions. These are Read Hunt Ltd, a retail insurance broker, and First Business Finance Ltd, an asset finance broker. Read More

IN BRIEF: Borders & Southern extends Falkland Islands licences

30th Oct 2024 14:32

Borders & Southern Petroleum PLC - oil and gas company with assets offshore the Falkland Islands - Extends its PL018, PL019 and PL020 production licences by two years to December 31, 2026, as granted by the Falkland Islands government. The licences include the Darwin discovery area. Read More

IN BRIEF: AstraZeneca China President Leon Wang under investigation

30th Oct 2024 14:30

AstraZeneca PLC - Cambridge, England-based pharmaceutical company - Reports that AstraZeneca China President Leon Wang is cooperating with an ongoing investigation by Chinese authorities. Wang is also executive vice president of the International division. "Our China operations continue under the leadership of the current general manager of AstraZeneca China. If requested, AstraZeneca will fully cooperate with the investigation," the company says. Read More

Nexus Infrastructure anticipates revenue fall in line with forecast

30th Oct 2024 14:28

(Alliance News) - Nexus Infrastructure PLC on Wednesday said it expected to report a fall in annual revenue in line with market expectations, as a result of "challenging market conditions". Read More

Grafton notes challenging trading as completes Salvador Escoda buy

30th Oct 2024 14:26

(Alliance News) - Grafton Group PLC on Wednesday said business in the UK and Finland remains challenging, but it is confident that its medium-term outlook is positive. Read More

UK BUDGET: Reeves delivers win for gambling stocks and cheer for pubs

30th Oct 2024 14:14

(Alliance News) - Shares in betting firms leapt after Wednesday's budget contained no rumoured tax changes, while a cut in beer duty provided cheer to pub operators. Read More

CAB Payments lowers outlook for second half as takeover talks continue

30th Oct 2024 14:14

(Alliance News) - CAB Payments Holdings PLC on Wednesday said it no longer expects "positive leverage" in the second half of the year on account of reduced revenue, while it remains in discussions for a potential takeover offer. Read More

IN BRIEF: Diversified Energy completes purchase of Texas gas assets

30th Oct 2024 14:10

Diversified Energy Co PLC - Alabama-based, US-focused natural gas producer - Completes USD69 million acquisition of a package of gas-producing wells in eastern Texas that was first announced back in August. Diversified will pay the seller, a regional US operator, USD22 million in cash, plus 2.2 million new Diversified shares, representing about 4.6% of its existing total. The assets, which are producing at a pace of 4,000 barrels of oil equivalent per day, are expected to contribute USD19 million in adjusted earnings in the coming 12 months. "We are excited to announce the completion of another acquisition of high-quality, bolt-on assets within our central region, which are immediately accretive to operations, further increase operating scale and provide the opportunity for cost synergies," comments Chief Executive Officer Rusty Hutson. Read More

UK BUDGET: Reeves makes difficult choices as ups tax by GBP40 billion

30th Oct 2024 14:07

(Alliance News) - UK Chancellor of the Exchequer Rachel Reeves said changes to employers' national insurance will raise as much as GBP25 billion as part of a GBP40 billion package to stabilise the UK's public finances. Read More

Reeves raises taxes by GBP40bn to address 'black hole' in public purse

30th Oct 2024 13:53

(Alliance News) - Chancellor Rachel Reeves set out a budget which will increase taxes by GBP40 billion as she promised to "fix the foundations" of the economy and repair the public finances. Read More

UK BUDGET: Chancellor Reeves announces rise in flight taxes

30th Oct 2024 13:48

(Alliance News) - Air passengers will be hit by an increase in flight taxes, UK Chancellor Rachel Reeves said in her budget on Wednesday. Read More

IN BRIEF: Hochschild Mining exercises option to buy Brazil gold mine

30th Oct 2024 13:38

Hochschild Mining PLC - mines silver and gold in Peru, Argentina and Brazil - Exercises option to buy 100% of Monte Do Carmo project in the Brazilian state of Tocantins from Cerrado Gold Inc. Hochschild will pay Cerrado a total of USD60 million in cash for the gold project, which consists of 21 mineral concessions across 82,542 hectares. The money will come from existing resources, and Hochschild said it expects no increase in net debt by year-end. This stood at USD226.7 million on September 30. Read More

UK BUDGET: AIM gets much-needed boost from inheritance tax changes

30th Oct 2024 13:35

(Alliance News) - The AIM-All Share Index climbed on Wednesday afternoon in London as changes to inheritance tax proved by UK Chancellor of the Exchequer Rachel Reeves's budget proved no worse than feared. Read More

UK BUDGET: Reeves pledges to "invest, invest, invest" to boost growth

30th Oct 2024 13:05

(Alliance News) - UK Chancellor of the Exchequer Rachel Reeves on Wednesday said there are "no shortcuts" to delivering growth as she set out plans to "fix the foundations" of the economy. Read More

Smurfit WestRock swings to third-quarter loss due to merger costs

30th Oct 2024 12:37

(Alliance News) - Smurfit WestRock PLC on Wednesday said it swung to a loss in the third quarter of 2024, due to expenses from its merger with WestRock Co earlier this year. Read More

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