Royal Mail PLC (LSE:RMG) managers today voted heavily in favour of industrial action over pay and later BT Group PLC (LSE:BT.A) workers also agreed to go on strike later in the afternoon.
They are the latest in a growing list of companies and sectors facing industrial action.
UK economic growth slowed in the first quarter and growth is expected to remain weak all this year, with a recession “a distinct possibility” as the Bank of England battles higher-for-longer inflation than other countries.
Fresh numbers from the Office for National Statistics today confirmed the decline in gross domestic product in the first three months of the year and with businesses on the same day calling for urgent government help amid supply chain issues, hiring problems and costs rising and expected to keep going, the UK is likely to have teetered over the edge of a slowdown into contraction in the second quarter.
Mkango Resources, the rare earth explorer and producer, has appointed Robert Sewell as Chief Financial Officer in a non-board position role.
Sewell joins from AfriTin Mining where he was CFO during the construction and commissioning of its Uis tin mine in Namibia.
Reassuringly dull is probably not a motto Bunzl PLC (LSE:BNZL) considered adopting but maybe it should.
Given its share price is up to 2,687p, compared to a low of 1,472.5p in mid-March 2020 – around about the time when the western world was beginning to wake up to the threat of Covid 19 – its theme song should possibly be Elton John’s “I’m Still Standing”.
Over 35,000 Barclays PLC (LSE:BARC) employees will receive a £1,200 pay rise to help alleviate the rising cost-of-living crisis.
Customer-facing and junior workers can expect the hike to take effect from 1 August, while the usual company-wide annual pay review will still be conducted in March 2023.
Google, under the Alphabet Inc (NASDAQ:GOOG) umbrella, is reportedly facing legal action in Europe over its account sign-up process, which according to claims has favoured configurations that collected the most user data.
The European Consumer Organisation (BEUC) insisted the language chosen is “unclear, incomplete and misleading,” which influences less privacy-friendly decisions to be made.
Abu Dhabi start-up Pure Harvest Smart Farms has raised US$180.5mln in its latest funding round as it looks to expand further into the GCC and Asia.
The agritech start-up that specialises in growing food in harsh climates plans to combine growth capital with debt financing to fund expansion.
Business investment in the UK market fell 0.6% in the first three months of 2022, according to the latest figures from the Office for National Statistics.
The statistical body revised its predictions for business investment today, defined as investment in assets by private and public corporations, after previously guiding for a 0.5% decline in the first quarter.
Uniper, the German energy giant that owns and operates seven UK power stations, is in talks with its local government over possible support after a massive profit warning.
As one of the biggest, if not the biggest, of Europe's individual buyers of Russian gas, the company warned that underlying profits (EBIT) were likely to be “significantly below” previous years as it is getting just 40% of the gas ordered from Russia’s Gazprom in the past fortnight.
B&M European Value Retail SA (LSE:BME)’s first-quarter was “as positive as we could have hoped for,” according to Liberum.
Analysts at the investment bank highlighted in the first-quarter update that like-for-like sales in the most recent eight weeks were only down 1.6%, an improving trend which is “very encouraging.”
Just Eat Takeaway has lots about it to like according to Credit Suisse, but more pain might be on the way for the shares and accordingly the bank has cut its target price to £39 from £50.
US subsidiary Grub is one of the reasons for the recent slide, says Credit Suisse, but more action alongside its disposal might be required before the share price reflects some of that potential.
The energy situation in Germany is "very worrying" as it could have considerable effects on economic growth and of course "much higher" inflation, Deutsche Bank has warned.
"We are becoming increasingly concerned about the unfolding energy situation in Germany," said George Saravelos, global head of FX research the bank, in a note to clients on Thursday.
Tesla Inc (NASDAQ:TSLA) will reveal second-quarter deliveries in coming days that will be nothing to write home about, said broker Wedbush, with Wall Street to be "laser focused" if they suggest boss Elon Musk will cut future delivery targets.
Analysts at the US investment firm noted that, ahead of the electric vehicle maker's delivery numbers, which are due to be released at the end of the week or at the weekend, future estimates will be far more important than actual deliveries, which were hampered by supply chain issues and factory shutdowns in Shanghai.
The fall-out between Tesco PLC (LSE:TSCO) and Kraft Heinz is another example of the supermarket giant’s often fraught relationship with its suppliers.
Tesco has issued a statement apologising for the absence of some Kraft Heinz products, saying it would not pass on “unjustifiable price increases” implemented by the US foods giant to its customers.
City of London firms are preparing to make job cuts as the boom in initial public offers (IPOs) seen last year almost entirely dries up in 2022.
This comes as massive amounts of cash have been pulled out of the stock market by investors, with the FTSE All-Share index down 8% so far this year and the AIM index down over 27%.
KEFI said it has signed an umbrella financing agreement for the Tulu Kapi gold mine development in Ethiopia sending its share price up almost 40%.
In addition, Kefi said the Ethiopian Minister of Mines confirmed that the media reports of licence cancellation were inaccurate, that the Tulu Kapi mining licence is not cancelled and that regular progress reviews would continue so as to ensure the earliest possible project launch.
Brokers continue to take aim at Royal Mail with Liberum the latest to slash its target price.
The mid-cap specialist broker has axed its target to 205p from 355p, a move explained by a 22-page note on the prospects for the letters and parcels group.
Amur Minerals Corporation (AIM:AMC, OTC:AMMCF) said in its full-year results statement that the geopolitical situation in Ukraine has radically altered its strategy for 2022.
Russia’s “special military operation” in Ukraine has yet to affect the company’s operational activities in Russia but it has substantially altered activities related to its mergers & acquisitions strategy.
Chaos at Heathrow airport continues, as a further 30 flights were cancelled from Thursday morning’s schedule due to passenger numbers exceeding the airport’s capacity.
Passengers affected by the cancellations are expected to be rebooked onto another flight outside of peak times, meaning it may still be possible that they can fly out today.
PCF Group PLC (AIM:PCF) said it is focused on returning to profitability after addressing various challenges in the past year and a half for its PCF Bank business.
Alongside results for the six months to 31 March 2022, chief executive Garry Stran said the saw management and financial resource focused on the remediation of the company's control and governance framework, after accounting issues under his predecessor.
Crypto-exchange CoinFlex said it is unlikely customers will be able to withdraw money from their accounts today as originally planned.
“We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” chief executive Mark Lamb said on Wednesday to CNBC.
If extending Bob Chapek’s tenure as Disney boss was designed to reassure markets, the tepid share price reaction suggests few, if any investors, were toasting the news.
On Wednesday, Disney shares were indifferent at best to the news its seemingly unpopular chief executive would be sticking around for three more years.
Aston Martin Lagonda Global Holdings PLC (LSE:AML) shares were the biggest faller on the FTSE 250 on Thursday morning following a report that the luxury car group is looking to raise funds, which analysts said "could significantly affect ownership".
The shares were down 14% to 415p by late morning on Thursday.
Hydrogen and electric-powered lorries will be massed produced in the UK by Tevva, an Essex-based startup.
Today it said the truck would be publicly unveiled at the Road Transport Expo, currently taking place .
Vast Resources PLC (AIM:VAST) said refurbishment of the Takob processing plant in Tajikistan is nearing completion.
The processing plant and the Takob tailings project, both at the Takob fluoride and galena mine, are part of a joint venture project with OJSC Korkhanai Boygardonii Takob. Vast has an effective 24.5% indirect interest in the project.
Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) relayed a positive update from Sandfire Resources Ltd which reported a new updated measured, indicated and inferred mineral resource estimate, for its MATSA project in the Iberian Pyrite Belt, southern Spain,
Sandfire (1.72% owned by Metal Tiger) has estimated some 147.2mln tonnes of resource at 1.4% copper, 3% zinc, 1% lead and 39.6 grams per tonne silver.
Oxford Nanopore Technologies PLC (LSE:ONT) said it appointed former Ocado Group PLC (LSE:OCDO) chief financial officer Duncan Tatton-Brown as its non-executive chair with effect from 1 August 2022.
Tatton-Brown succeeds Peter Allen, who will retire on 31 July.
An hour after the US financial regulator rejected Grayscale Investments' application to allow its Bitcoin ETF to trade on the New York Stock Exchange, the investment firm filed a lawsuit to challenge the decision.
Bitcoin bulls had pinned their hopes on the Securities and Exchange Commission (SEC) approving US bitcoin ETF, but the watchdog noted investors would not receive sufficient protection under Grayscale's proposal.
Catenae Innovation PLC (AIM:CTEA) said it continues to work with its auditors on its financial statements for the year to 30 September 2021, but it shared details of its income statement for the half-year to 31 March.
On an unaudited basis, the company’s first-half loss was reduced 53.5% to £273,069.
Ascential PLC (LSE:ASCL) said it acquired Intrepid E-Commerce Services Pte. Ltd., a provider of eCommerce execution services to brands in South East Asia, in a deal worth up to as much as US$250mln.
The initial cash sum paid for Singapore-based Intrepid is US$57mln, plus deferred consideration payable over four years, resulting in an estimated total price of between US$100mln-US$197mln, the FTSE 250 company said in a statement.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) said a definitive feasibility study (DFS) on the Mogale Gold Proprietary Ltd tailings storage facilities (TSFs) demonstrated the project's potential.
Re-mining of the Mogale TSFs is expected to add about 50,000 ounces a year of production, over its 13-year mine life - equivalent to a 25% increase in Pan African’s current output.
Singapore-based crypto hedge fund Three Arrows Capital has entered liquidation, as the crypto bloodbath continues.
Three Arrows, sometimes known as 3AC, was issued a default notice on Monday by cryptocurrency broker Voyager Digital, after failing to repay a loan of 15,250 bitcoin (roughly US$324mln) and stablecoin USDC worth US$350mln.
International Consolidated Airlines Group SA (LSE:IAG) (IAG) said it is converting options on 14 A320neo family short-haul aircraft into firm orders.
The options, announced in August 2013, are being converted into orders for 11 A320neos and three A321neos, the owner of British Airways said in a statement.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has reported high-grade intercepts from drilling at the Rupice Northwest project area, at its flagship Vares Silver Project in Bosnia & Herzegovina.
Latest results come from three exploration holes, out of five holes drilled this year to date.
Bradda Head Lithium Ltd reported positive results from its first drilling programme at the Wikieup lithium clay project in Arizona, US.
"We are pleased to report these results which clearly demonstrate the presence of lithium-bearing clays at our Wikieup claims and have given us a greater understanding of the geology at Wikieup,” said chief executive Charles FitzRoy.
Investec PLC (LSE:INVP) said full year earnings per share surged more than 90% to just top guidance and predicted a “positive revenue outlook” for 2023.
Adjusted earnings per share for the year ending in March came in at 55.1p - exceeding 2019 levels and slightly above its earnings guidance for the period.
Apple Inc (NASDAQ:AAPL) and Google's chief executives have been urged by the chief of the US telecoms regulator to kick Chinese-owned TikTok Global out of their app stores.
"I’m deeply concerned about this," Brendan Carr, the Federal Communications Commission (FCC) commissioner, reportedly said on a TV show, 'On Balance with Leland Vittert'. "The Biden administration has been undergoing a national security review of TikTok, but frankly, thats been proceeding too slowly."
Virgin Money UK PLC (LSE:VMUK) announced the launch of a share buyback programme which will see an initial £75mln returned to the bank’s shareholders.
The buyback starts today and will end no later than 17 December 2022, the company said in a statement.
Visum Technologies PLC (AQSE:VIS) shares started trading on London’s Aquis Stock Exchange today following an initial public offer where it raised £0.6mln at 14p per share.
The company, which owns and operates cameras to sell souvenir videos and photos of people riding on rollercoasters, will have a maiden market capitalisation of £7.1mln.
East Star Resources Plc (LSE:EST) saw its shares nudge higher in early deals after it published rock chip results from the Dalny licence.
The Kazakhstan-focused gold, rare earths and copper explorer spilt the beans on chip assay results from samples taken during geological surveys conducted over the Alatagyl target in April 2022 on the Dalny licence on the Chu-Ili Gold Belt in central Kazakhstan.
Ocado Group PLC (LSE:OCDO) has extended its partnership with French retailer Groupe Casino to create new robot-operated online delivery warehouses that can be accessed by "all grocery retailers in France".
The two companies are creating a joint venture that will offer logistics services from certain warehouses, or customer fulfillment centers (CFCs) as Ocado calls them, around France.
Providence Resources PLC (AIM:PVR, OTC:PVDRF) executive chair James Menton, in today’s annual results statement, said the Barryroe project can have a significant impact on Ireland’s security of energy supply.
It comes as the timeline for Barryroe has presently stalled, with the company awaiting on the Irish government to approve an extension for the offshore licence that is host to the project.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said non-executive chairman Mark Potter will step down from the board with immediate effect for personal reasons.
The AIM-traded company has started a search for a permanent independent replacement.
M&C Saatchi PLC (AIM:SAA) expects full year profits to be in line with expectations as the much-coveted advertising group enjoyed “continued strong trading momentum” this year.
Chairman Gareth Davis said headline profit before tax is in line with management's expectations of £31mln in full year 2022, according to a regulatory filing released in advance of its annual general meeting later today.
DeepVerge PLC (AIM:DVRG) said its Modern Water business secured more than £3mln of orders in China and South Asia in the past quarter, for delivery during the current financial year.
"Significant” sales of water monitoring and membrane water recovery were secured with Tier 1 partners, the company said.
Tower Resources PLC (AIM:TRP) told investors it a signed term sheet with Central African brank BGFI for a 4.42bn Cameroon francs loan, equivalent to around US$7.1mln, as part of its funding arrangements for the upcoming NJOM-3 well on the Thali block, offshore Cameroon.
The company said the loan would cover around 40% of the expected well cost (US$18mln) and the remainder is being covered by Tower’s subsidiary in Cameroon, according to a statement released after Wednesday’s close.
EQTEC PLC (AIM:EQT) said it will develop a multi-technology, waste-to-energy project at Southport Hybrid Energy Park in Merseyside with partner Wood.
The technology company signed a letter of intent with Wood to collaborate on the design and deployment of a clean, waste-to-hydrogen solution during the second phase of the development of the Southport project.
Guild Esports PLC (LSE:GILD, OTC:GULDF) nearly tripled its half-year revenue and said more sponsorship deals are in the pipeline.
In its unaudited results for the six months ending 31 March 2021, the global esports team and lifestyle brand said revenues grew 195% to £1.09mln, largely due to a growth in sponsorship income.
Panthera Resources PLC (AIM:PAT) completed the restructuring of its 50%-owned Moydow Holdings Ltd.
Under the revamp, Diamond Fields Resources Inc (DFR) will provide funding of up to US$18mln for the Labola gold project in southwest Burkina Faso.
Bunzl PLC (LSE:BNZL) has updated its guidance, with "very strong" revenue growth and better margins expected due to positive contributions from acquisitions.
The FTSE 100-listed specialist distribution group said revenue in the first half is expected to increase roughly 16% year-on-year, with inflation driving underlying revenue growth, offset in part by the continued normalisation of sales of Covid-19 related products.