Top stories from the Proactive Investors UK newsroom:
Strategic Minerals (LON:SML) is in line for a possible receipt of US$4mln in the next two weeks after it reached agreement with its major client at the Cobre tailings operation over money owed. The client told Strategic it will have significant funds very shortly and has asked for a two-week delay to legal action to recoup money owing.
Facebook is set to launch its own crypto-currency that has tentatively been called GlobalCoin. Testing of the new crypto is expected to start by the end of the year ahead of a launch in twenty countries.
Financial services group Old Mutual (LON:OMU) has suspended its chief executive Peter Moyo due to ‘a material breakdown in trust and confidence between him and the board’.
Spirits mixer group Fevertree (LON:FEVR) told shareholders it’s made encouraging operational progress this year so far, but reminded them that last year’s performance was exceptional - especially in the UK.
Computer chip material maker IQE (LON:IQE) has cautioned it faces some short-term trading disruption due to the US ban on dealing with Chinese firm Huawei. IQE said it might experience some delay to orders and the potential for adjustment of stocks, though it doesn’t expect it affect more than 5% of revenues.