A ship carrying luxury cars such as Porsches and Bentleys had to be abandoned in the Atlantic Ocean after it caught fire on Wednesday.
The vessel, named Felicity Ace, was travelling from Emden in Germany to a Volkswagen Group (XETRA:VOW) factory in Rhode Island, US when it set ablaze near Portugal’s Azores islands.
Deere & Co raised its annual profit forecast on Friday, as the world's largest farm equipment maker expects a boost to margins from price hikes and solid demand for its tractors and combines.
Record grain prices have put more cash in farmers' pockets and spurred them to increase investments in agricultural machinery amid a tight labor market, Reuters reported. The US Department of Agriculture estimated net farm income to have risen 25% to $23.9 billion in 2021.
Roku Inc (NASDAQ:ROKU) shares fell Friday after the home entertainment company reported 4Q revenue that came in below Wall Street estimates.
The company reported $865.3 million in revenue during 4Q compared with consensus estimates of just over $894 million.
The Washington Post has reported that, in a complaint filed with the Securities and Exchange Commission this month, a pair of whistleblowers alleged that Facebook misled investors about its efforts to combat climate change and coronavirus (COVID-19) misinformation as per redacted copies of documents seen by the newspaper.
Filed by Whistleblower Aid, a non-profit representing former Facebook employee Frances Haugen, the paper said the complaints allege that the company made “material misrepresentations and omissions in statements to investors” about its efforts to combat misinformation.
Draftkings Inc (NASDAQ:DKNG) announced that its fourth-quarter 2021 revenue increased by 47% year over year to $473 million, which exceeded the company’s previous guidance by 8%.
The company attributed the stronger-than-expected results to “excellent” player retention, acquisition and cross-selling in the quarter, as monthly unique payers increased by 32% and average revenue per monthly unique payer grew by 19%.
Shake Shack (NYSE:SHAK) Inc forecast revenue for its first quarter after-hours on Thursday, which fell short of Wall Street expectations.
The burger chain company forecasts revenue for the three months to come in at between US$196 million and US$201.4 million, compared with an average analyst estimate of US$210.9 million, as the coronavirus (COVID-19) kept customers away, infected staff and hampered the group's recovery
Uber Eats, Deliveroo PLC (LSE:ROO), Getir and Wm Morrison Supermarkets PLC (LSE:MRW) have temporarily suspended some delivery services in areas most affected by Storm Eunice.
The Uber Eats app states “Due to severe weather conditions we have temporarily paused the Uber Eats app in locations where a red weather warning is in place.”
Rolls-Royce Holdings PLC (LSE:RR.) is expected to reveal an improved but not entirely encouraging performance on Thursday, that’s according to UBS.
The engineer’s aerospace division continues to be impacted by the slow pace of recovery in aviation, the Swiss bank reckons.
SEGRO PLC (LSE:SGRO) has posted surging profit and hiked its final dividend by 11% to 16.9p.
In results for the year ended December 31, 2021, the British warehousing firm reported pre-tax profits of £356mln, a 20% increase over the prior year.
Kingspan Group PLC (LSE:KGP) shares jumped in Friday's trading following record revenues and an acquisiton of Ondura, against a backdrop of rapid inflation.
Revenues for Kingspan increased by 42% in 2021 to €6.5bn, bolstered by strong growth in the company’s cornerstone insulation markets and acquisitions.
SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) said its investee company Little Green Pharma (LGP) has won an Italian government tender to deliver a shipment of EU Good Manufacturing Practice (GMP) medicinal cannabis flower worth around €200,000 from its production facility in Denmark.
SEED, which owns 3.1% of LGP, said the tender award gives LPG access to the Italian market with a 60mln population and a total addressable market worth A$10bn.
Lloyds Banking Group PLC (LSE:LLOY) could be ready to hand as much as £2bn back to investors next week as prelude to further bumper cash pay-outs going forward.
That at least is the conclusion of the number crunchers at Deutsche Bank in a note published earlier this week.
ARK Invest’s chief has stood by the fund’s poor recent performance as investors flee to benchmarks and anti-innovation funds.
Cathie Wood, chief executive officer of ARK Invest, has presided over a steep drop in the group’s ARK Innovation ETF (ARKK), which prioritises innovative technologies like gene editing, electric vehicles and artificial intelligence.
The US venture capital firm Sequoia Capital is investing between US$500mln and US$600mln in a new fund focused on cryptocurrency, in the latest sign that venture capitalists are moving deeper into digital assets.
Shaun Maguire, a partner at Sequoia, described crypto as a “megatrend over the next 20 years” and called it “the future of money”.
Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has been appointed as advisor to lifestyle fashion brand company Blvck Paris for the launch of its ‘Blvck Genesis’ non-fungible token (NFT) collection.
Coinsilium, the blockchain and open finance venture builder, will provide strategic advisory services to its client for the launch, providing advice on the NFT market and the promotion of the collection.
Pod Point Group Holdings PLC (LSE:PODP), the provider of electric vehicle (EV) charging solutions plans further investment across the business, expanding installation capability and software development to grow recurring revenue streams following strong revenue growth last year.
Revenues rose by 86% to £64.1mln in 2021, as the company installed and shipped over 66,000 charging points during the year.
Goodbody Health Inc (AQSE:GBDY, CSE:GBDY, OTC:SCNNF) said it has signed the lease for its first testing clinic premises in Vancouver, following the successful rollout of its clinics in the UK for blood and Covid PCR testing.
The nine-storey building is home to numerous doctors, therapists, medical practitioners, and other personal service professionals, it said.
Yamana Gold (TSX:YRI) shares jumped over 5% after the company reported record gold production and cash flow for the fourth quarter of 2021 and raised its output forecast for 2023.
Production from Yamana’s mines totalled 281,388 gold equivalent ounces (GEO) in the final three months of 2021, significantly exceeding the company’s guidance of 270,000 GEO. Annual production of a record 1.01mln GEO was also above guidance of 1mln GEO.
Bitcoin, along with almost all of the crypto market, took a hammering in Friday morning’s early deals as the momentum faded from earlier in the week.
Cryptocurrency miners are offloading bitcoin to maintain cash reserves as the number-one digital coin reaches new heights in mining difficulty, which means there is more competition amongst miners to confirm a block and extract a block reward, Cointelegraph said.
Coinbase Global Inc (NASDAQ:COIN) saw app installs spike thanks to its quirky Bitcoin giveaway ad during last Sunday’s Superbowl.
The crypto-currency exchange, which gave each new user US$15 in Bitcoin during halftime, saw a 309% jump in downloads on Sunday and a 286% stronger showing week-on-week for the Monday according to TechCrunch, citing data from app data gatherer Sensor Tower.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF), the owner of a metallurgical coal mine in North America, is to issue a second convertible loan note to raise US$6mln.
The terms of the convertible loan note (CLN) are broadly the same as the first convertible loan note issued by the company on 14 December 2021, apart from the conversion price, which is set at 40p per new ordinary share, and the rate of interest, which is reduced to 12% a year from 15%.
The takeover of Avast PLC (LSE:AVST) has been postponed until early April, buyer NortonLifeLock Inc said, based on its current discussions with regulators.
The US company said in a statement that it has decided "it is appropriate to postpone the closing of the merger".
NatWest Group PLC (LSE:NWG) reported a return to profit in 2021 after it released provisions set aside to cover losses during the pandemic and also announced a £750mln share buyback programme for the first half of 2022.
The bank, which is majority owned by the UK government, reported operating profits of £4bn for the year to end-December 2021, compared with a £481mln loss the previous year.
Cineworld Group PLC (LSE:CINE) has reached an agreement to delay payments owed to disgruntled former shareholders of its Regal theatre chain.
The settlement will see Cineworld hand over US$79.3mln in instalments with the final payment due in June 2022, rather than the previously agreed March 2022, in a bid by the UK-based group to retain some liquidity.
Ariana Resources PLC (AIM:AAU) has announced the dates for the second tranche of the company's special dividend next month and confirmed the third tranche will be proposed for shareholder approval at the annual general meeting in June.
The mineral explorer and developer said the second tranche of 0.175p per share will be paid on 25 March, with the ex-dividend date being 3 March 2022.
UK Oil & Gas PLC (AIM:UKOG) said it is delighted with a ruling in the Court of Appeal which safeguards the company’s production at the Horse Hill project for the remainder of its commercial lifespan.
The court upheld the legality of legality of Horse Hill's planning consent, as a long-running appeal by Finch et al sought to overturn a December 2020 judgement in Judicial Review.
UK retail sales volumes rose 1.9% in January, bouncing back from December’s 4.0% decline.
January’s rise was the largest monthly increase since lockdown rules for non-essential shops were loosened in April 2021 and well ahead of the consensus forecast of 1.2%.
GlaxoSmithKline PLC (LSE:GSK) said it has paused a phase III clinical trial on safety grounds.
The recommendation to halt enrolment and vaccination in the GRACE study, which is evaluating GSK’s jab for respiratory syncytial virus (RSV) in pregnant women, was made by an independent data monitoring committee.
Supply@ME Capital plc (LSE:SYME) said its TradeFlow good monetisation facility will be made available via the trade finance platform offered by global supply chain specialist DP World, as part of a new partnership.
A provider of worldwide end-to-end supply chain logistics, DP World launched its Cargoes Finance trade finance platform in July 2021 to enable access to working capital for small and medium-sized enterprises (SMEs) by connecting them with premier financial institutions worldwide.
Elon Musk and Tesla Inc (NASDAQ:TSLA) have fired a broadside at America's main financial regulator by accusing them of trying to ‘chill’ free speech.
The allegations came from a lawyer's letter to US District Judge Alison Nathan, who presided over a 2018 Securities and Exchange Commission (SEC) settlement related to a Musk tweet about taking Tesla private.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) is to issue 1.94mln new shares as a result of a conversion of US$2mln of its US$55mln unsecured convertible bond.
The AIM-quoted oil and gas company, which has a 100% working interest in all of its oil projects adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope, said that following the issue of the new shares, the total number of ordinary shares in issue will be 748,939,811.
Shale gas and oil have been the main focus of US energy companies over the past decade and the preponderance of that form of exploration has been a depressant on pricing.
But it has also led to opportunities for those companies prepared to hunt down conventional assets and re-energise them as pricing has become more favourable.
Ocado Group PLC (LSE:OCDO) is likely to go cap-in-hand to investors for more funds, as the cash-hungry company continues to plough capital into its technology partnerships.
The online grocery group today announced an extension of its partnership with Groupe Casino in France, with a new joint venture replacing the previous deal for the FTSE 100 company to supply its robot-powered warehouses and associated software.
The UK pubs and restaurants body has urged the chancellor to extend VAT support to the sector beyond April as surging prices may be more detrimental to the industry than the pandemic.
COVID has resulted in approximately £115bn of lost revenue since the first lockdown in March 2020 for pubs, clubs, hotels, restaurants, and coffee shops, UKHospitality said on Thursday.
Relativity Space has completed the world’s first ever entirely 3D-printed rocket using the world’s largest metal 3D printer.
Relativity goal is to build humanity’s multiplanetary future with its wholly 3D-printed rockets, Terran 1, and Terran R, (the latter is a larger and will be a fully reusable launch vehicle, the company says).
Pure Gold Mining Inc announced a series of executive appointments to boost operations at its PureGold gold complex.
The company is welcoming Terry Smith as its new COO and Bryan Wilson as vice president mine general manager.
Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), the maker of consumer products ranging from Durex condoms and Nurofen painkillers to Cillit Bang and Harpic bathroom and toilet cleaners, and Unilever PLC (LSE:ULVR), the group behind brands from Vaseline and Dove to Knorr and Magnum, are at the centre of the inflation narrative.
Not only are both in the same sector, but both are Anglo-Dutch members of the FTSE 100 and conveniently put their results out just a week apart.
Despite promising billions of new shareholder returns, Standard Chartered PLC’s (LSE:STAN) share price dipped in morning trading as it missed expectations on profits and earnings per share.
The bank’s share price was at 533p by early afternoon, a 3.61% fall on the day, as underlying profit before taxes of US$3.89mln missed the consensus estimate of $4.30mln.
Open Orphan PLC (AIM:ORPH, OTC:OPORF) has highlighted positive results of a human challenge study assessing Enanta Pharmaceuticals (NASDAQ:ENTA)’ respiratory syncytial virus (RSV) antiviral candidate, EDP-938, which is being advanced by Enanta Pharmaceuticals (NASDAQ:ENTA) Inc.
AIM-quoted Open Orphan, which is a contract research organisation (CRO) specialising in the testing of infectious and respiratory disease products, helped facilitate the challenge trial which enrolled 178 healthy adult volunteers in an age range between 18 and 55.
Sky will raise the prices of its TV and broadband offerings in the latest move by consumer brands to respond to cost increases.
Prices for the entertainment provider’s customers are expected to rise by an average of £43 per year from April, while mobile customers will pay an additional £2 a month due to the return of European roaming charges.
Sir Nick Clegg, the former Liberal Democrat leader and deputy prime minister of the UK between 2010 and 2015, was promoted to president of Facebook’s owner Meta.
Clegg will be on the same level as Mark Zuckerberg and chief operating officer, Sheryl Sandberg, who are the two most senior bosses at the company.
Amazon.com Inc (NASDAQ:AMZN) said it reached an agreement with Visa (NYSE:V) Inc that allows customers to continue to use their Visa (NYSE:V) credit cards across all of its online sites and stores.
Last November, the online retail giant said its UK business would stop accepting payments from the card issuer because of the high transaction fees charged, although last month Amazon delayed the proposed ban and said it was working to find a solution.
Bitcoin gave up recent gains as two reports flagging trouble ahead for cryptocurrencies added to ongoing concern over the threat of war in Ukraine.
Bitcoin fell 0.5% to US$43,790 but was still safely above a key support level of $42,000. Ethereum, its closest rival by market value, was down 1.4% to US$3,091.
Inspiration Healthcare Group PLC (AIM:IHC) said results for the year to end of January 2022 are expected to be above market expectations.
Revenues are expected to be around £41.0mln, up 10.9% year-on-year, while adjusted underlying earnings (EBITDA) should be not less than £6.2mln, which would represent an increase of at least 10.5% on the previous financial year.
The rapidly growing crypto market may soon pose a threat to global financial stability, the Financial Stability Board (FSB) said, as it called for urgent policy re-evaluations.
The international organisation that monitors and makes recommendations for the global financial system outlined the potential problems with unbacked crypto, stablecoins (cryptos pegged to real asset values), crypto trading platforms and decentralised finance.
M&G PLC (LSE:MNG) said it acquired investment manager TCF Investment to become a provider of model portfolio services.
Under the deal, which has been given the go-ahead by the Financial Conduct Authority (FCA), TCF will become part of M&G Wealth and be rebranded in due course, M&G said in a statement.
Spotify Technology SA (NYSE:SPOT) said it is buying two podcast marketing and ad contribution companies for an undisclosed price.
The audio streaming service has its sights on Podsights, a podcast advertising measurement service and Chartable, a podcast analytics platform.
Charlie Munger, the partner of Warren Buffett and the vice-chair of Buffetts’ conglomerate Berkshire Hathaway (NYSE:BRK), described cryptocurrency as a “venereal disease” in his latest attack on the digital assets, according to the website decrypt.co.
During a Q&A session at the Daily Journal annual meeting in Los Angeles on Wednesday, Munger said: "I certainly didn't invest in crypto. I'm proud of the fact that I avoided it. It's like some venereal disease."
Panthera Resources PLC (AIM:PAT) reported ‘highly encouraging’ drilling results from the Bassala gold project in Mali.
All targets tested as part of the Stage 2 Aircore drilling (AC) programme returned more than 100 parts per billion gold from 5 metre (m) composite samples, said the AIM-traded company.
Ocado Group PLC (LSE:OCDO) and Groupe Casino announced a memorandum of understanding (MOU) to extend their partnership in France.
Under the agreement, the companies will set up a joint venture (JV) that will provide logistics services to Ocado Smart Platform (OSP)-powered customer fulfilment centres (CFCs) in France, which will be available to all grocery retailers.