Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) has selected Etowah, Tennessee in McMinn county as the location to build a 30,000 tonne per annum LHP-2 lithium hydroxide operation, complementing the company’s lithium assets and supporting the development of a fully integrated lithium business in North America.
The project is designed to convert spodumene concentrate sourced principally from Piedmont’s international project investments, intended to be operational and producing by 2025 as potentially the largest lithium hydroxide processing facility in the United States.
Accelerated inflation and a sharper rise in interest rates makes for a pretty severe bear case for the UK housebuilding sector, according to analysts at Citi Research.
“We see further downside risk to current valuations in the bear case impacted by weak demand and lower house prices,” stated Ami Galla and Ephrem Ravi.
August's most popular shares for retail investors were dominated by apparent bargain hunting, with Rolls-Royce Holdings PLC (LSE:RR.), GSK PLC (LSE:GSK, NYSE:GSK) and Vodafone Group PLC (LSE:VOD) snapped up despite falling between 7% and 19% over the month.
Engine maker Rolls and big pharma group GSK were the top two most-bought stocks on the UK's second largest investment platform, interactive investor (ii), and third and fourth on the third-largest platform owned by AJ Bell, where Vodafone and National Grid PLC (LSE:NG.) was first and second.
Following strong half-year numbers from Bunzl PLC (LSE:BNZL), Shore Capital has upgraded its forecasts for earnings and dividends for this year and next.
"We foresee the potential for more to come," the broker said, highlighting the FTSE 100 group's attractions as "highly resilient business to economic cycles" through its business model as a distributor of capital efficiency to companies across a wide spectrum of industries.
NatWest remains on Goldman Sachs (NYSE:GS) conviction list of buys as the US banks said fears of a price war in mortgages due to ring-fencing have yet to materialise.
“Previously, we argued ring-fencing would drive industry profitability lower as banks would attempt to deploy sizeable excess deposits into mortgages, with mortgage pricing falling over the 2016-19 period.
Digital asset investment company KR1’s portfolio company RedStone has completed a successful US$7mln seed funding round involving Lemniscap, Blockchain Capital, Coinbase Ventures and others.
KR1 itself is participating in the round following an initial US$300,000 financing round in July 2021.
Jet2 PLC (AIM:JET2) (Jet2 PLC (AIM:JET2)) said that winter bookings this year were “satisfactory” and it remains on track to achieve the current market expectations on profit for the year.
Twitter Inc (NYSE:TWTR) confirmed it is testing out an ‘Edit Tweet’ feature on the social media platform after announcing in April it was working on the update.
In a statement, the social media platform, currently in the midst of a legal battle with Elon Musk as he looks to back out of his US$44bn takeover, said the Edit Tweet feature is being tested initially by its own team.
AstraZeneca PLC (LSE:AZN) has succeeded in stopping a former senior executive from joining rival GSK PLC (LSE:GSK, NYSE:GSK) via an injunction granted by a High Court judge.
Having recently left AstraZeneca after holding several senior positions, Chris Sheldon was due to join GSK on September 1, in charge of developing the group's therapy businesses.
Scottish Mortgage Investment Trust PLC (LSE:SMT) and London's band of China-focussed trusts are in the spotlight as Tencent Holdings said it plans to sell almost US$15bn of its investments as it shifts strategy amid Beijing's clampdown on anti-competitive behaviour.
The Chinese tech titan's listed equity portfolio is worth around US$88bn.
Uber Technologies Inc (NYSE:UBER) is to partner with a fintech startup to add 10,000 electric vehicles (EVs) to London within the next few years.
Following its launch in India and Nigeria, Amsterdam-based Moove is expanding its vehicle financing business to the UK. It is Uber's largest vehicle supply partner in Europe, the Middle East, and Africa.
A veteran US fund manager has warned investors to prepare for a ”tragedy” when current stock market valuations unwind.
Jeremy Grantham, the co-founder of Boston-based investment giant GMO, suggests the recent rally by equities on Wall Street is the final act of the current "superbubble".
A new initiative has been launched to encourage businesses to invest in the health of their workforces, with the aim of identifying health issues in employees early through blood and body mass index tests.
A pilot health screening pilot programme is being carried out under the oversight of an inaugural “healthier community” programme board in Cumbria.
Global stock market volatility has led to a decline in the number of 'ISA millionaires', new data shows.
A Freedom of Information request led to the disclosure by HM Revenue and Customs (HMRC) of a dip of 520 in millionaires numbers.
Scottish craft beer chain BrewDog has announced the closure of six pubs due to spiralling operational costs and a lack of help from a “clueless government”.
Writing in a LinkedIn post, founder James Watt said it was "heart-breaking" to lose the six pubs across Aberdeen, London and Motherwell, but "reality in the hospitality space is starting to bite and bite hard... The government needs to get a grip, now”.
Shares in Pearson PLC (LSE:PSON) were a rare bright feature in the FTSE 100 with JP Morgan Cazenove (JPM) reinstating coverage of the company today with an overweight rating and a 1010p price target.
The group topped the FTSE 100 risers as the broker said it believes the media group is “walking the walk” and making good progress on delivering on its strategy.
The UK competition watchdog has raised concerns about the US$68.7bn (£60bn) takeover of Activision Blizzard by Microsoft Corporation (NASDAQ:MSFT).
The Competition and Markets Authority (CMA) warned on Thursday afternoon that what would be the biggest ever gaming industry merger, “could substantially lessen competition in gaming consoles, multi-game subscription services, and cloud gaming services”.
French luxury brand Hermès International has filed a trademark application covering nonfungible tokens (NFTs), cryptocurrencies and the metaverse, joining the throng eagerly anticipating wider public adoption of Web3 technologies.
The trademark covers downloadable software that enables users to view, store, and manage virtual goods, digital collectibles, cryptocurrencies, and NFTs "for use in online worlds", according to a filing with the United States Patent and Trademark Office (USPTO).
Ethernity Networks said an order from a customer for its UEP (Universal Edge Platform) placed in July 2021 has now been cancelled.
David Levi, Ethernity’s chief executive, said: "We are extremely disappointed with the customer's stance and believe that their decision has been driven by other internal factors at the customer, which is resulting in them not being able to deliver to their anticipated plans.
Annual house price growth in the UK slowed in August but was still higher than expected according to building society Nationwide, and analysts expect the slowdown to continue in the coming months.
Price growth slowed to 10% in August from 11% in July, but was ahead of expectations for an increase of 8.9%.
Mode Global Holdings, the Financial Conduct Authority-registered crypto asset platform, is now offering Bitcoin Cashback rewards to customers from over 300 leading UK retailers, having just launched the programme in May.
Via affiliates including The Range and Trip.com, Mode is strengthening its vision of building a popular crypto reward wallet in the UK.
The Walt Disney Company (NYSE:DIS) is reportedly considering a new membership programme offering discounts and perks to various products in a bid to encourage customers to spend more on streaming, theme parks and resorts.
It would be similar to Amazon.com Inc (NASDAQ:AMZN)'s Amazon Prime, which offers its members benefits such as free shipping.
WPP PLC (LSE:WPP) said it will buy European ecommerce consultancy Newcraft for an undisclosed sum.
The Dutch-based company’s clients include airline KLM, Yakult, and the world-famous Rijksmuseum. The company, set up in 2007, calls itself a “bunch of nerds with a passion for everything that’s digital”.
Netflix Inc (NASDAQ:NFLX) has nabbed two executives from Snapchat owner Snap Inc (NYSE:SNAP) to lead its advertising business as it plans to launch a lower-priced subscription plan supported by advertising on its streaming platform, according to media reports.
Snap chief business officer Jeremi Gorman and vice president of sales Peter Naylor have been appointed to oversee global advertising, a Netflix spokesperson confirmed to TheWrap. Both will start in September.
Serco Group (LSE:SRP) PLC said it acquired ORS, an immigration services provider in Europe, for up to CHF44mln (£39mln).
Swiss-based ORS provides immigration services to public sector customers in Switzerland, Germany, Austria and Italy and generated CHF110mln in revenue in 2021.
British chip designer ARM Holdings, owned by Softbank Group, said it has sued QUALCOMM, Inc. (NASDAQ:QCOM) and its recently acquired chip design firm Nuvia Inc for breaching license agreements and trademark infringement.
Arm is seeking an injunction to compel Qualcomm to destroy designs developed under Nuvia's license agreements with Arm, as Qualcomm allegedly was required to receive Arm's approval before these could be transferred to Qualcomm.
Barclays PLC (LSE:BARC) said it expected to increase its CET1 capital levels but make a £31mln loss from selling down its last stake in South African bank Absa.
But after bagging £538mln from a placing with institutional investors, the FTSE 100 lender said its expected a pro forma increase of roughly four basis points to its CET1 capital levels.
Open Orphan PLC (AIM:ORPH, OTC:OPORF) said its clinical laboratories in Queen Mary's Bioenterprise Centre and Plumbers Row have been awarded accreditation by the College of American Pathologists (CAP).
The accreditation was sought from the world's largest pathologist body as part of its “ongoing commitment to maintaining best in class quality systems”, the company said, ensuring for US clients the accuracy of test results and conforming to the requirements from the US Food and Drug Administration (FDA).
TomCo Energy PLC (AIM:TOM) said it obtained an unsecured facility of up to £750,000 through a convertible loan note instrument and associated securities.
The funding package was introduced to the company by Novum Securities, the company’s broker, and is intended to bridge the company's financing requirements as the board seeks to further progress and finalise negotiations with a potential financing party for a larger debt funding.
Scirocco Energy PLC (AIM:SCIR) gave investors an update on its non-operated legacy asset in Tanzania, where partner ARA Petroleum is advancing talks with the authorities over a gas sales agreement (GSA).
The company, in a statement, relayed details announced simultaneously by Aminex, Scirocco’s other partner in Tanzania, confirming that seismic data capture continues at the Ntorya project – with around half of the programme now complete, it is expected that the campaign will complete by mid-October.
Michael Saylor, co-founder of the world’s largest corporate Bitcoin holder MicroStrategy, has been accused of tax evasion to the sum of US$25mln by District of Columbia’s attorney general Karl Racine.
Relaying the details of the complaint over Twitter, Racine stated that the lawsuit marks the first brought under District of Coulmbia’s amended False Claims Act, which encourages whistleblowers to report residents who evade tax laws by misrepresenting their residence.
Cloudbreak Discovery PLC (LSE:CDL) said it decided to draw down £180,000 of a £10mln equity facility to advance its acquisitions of energy royalties, lithium assets and bauxite projects globally.
It issued 12 million new shares at 1.5 pence each, a 13% premium on yesterday's closing share price of 1.33 pence.
Meta Platforms Inc (NASDAQ:FB) is setting up a product team to identify and develop "possible paid features" for Facebook, Instagram, and WhatsApp, according to media reports.
All three of Meta's main social media apps boast billions of users, and this would be the company's first foray into paid features.
IXICO, the brain scan data specialist, said underlying profits this year to end-September will be comfortably ahead of its previous guidance of £1.2mln.
Revenues for the year are broadly in line with market expectations, it added, with £0.2mln of revenues expected to move from 2022 into 2023 due to the timing of client trials.
Reabold Resources PLC (AIM:RBD) confirmed to investors that the process to potentially acquire exploration and appraisal licences from Corallian Energy is continuing.
The company, in a statement, noted that negotiations are continuing.
Investment trusts and renewable energy funds were in the spotlight as the latest FTSE index changes were confirmed overnight.
The quarterly index review was decided based on Tuesday's (30 August) closing share prices, with changes to be made ahead of the start of trading on Monday 19 September.
Braveheart Investment Group PLC (AIM:BRH) said it purchased a further stake in Aukett Swanke Group, the architectural services company.
According to a statement, it acquired 4,233,293 ordinary shares at a price of 1.88p per share, the mid-market closing price on 30 August 2022, for a total consideration of £79,585.91.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) said it encountered visible gold at its Eagle's Nest target in Southern Greenland.
The AIM-traded group said it re-discovered a historically reported quartz boulder containing the gold and a re-sample returned a gold grade of 10.4 grammes a tonne (g/t).
Crypto dipped in tandem with a bearish equities market this Thursday morning, as 1.8% was knocked off total market capitalisation.
As it stands, total value across the entire market is US$976bn, with a US$20,000 Bitcoin constituting slightly over 39% of the market.
Directa Plus PLC (AIM:DCTA, OTC:DTPKF) said it has continued to perform strongly since its trading update in June, with all verticals delivering a “robust” first-half performance.
As a results, the producer of graphene nanoplatelets-based products expects revenues for the six months to 30 June 2022 to have grown by around 39% to €5.5mln.
Avacta Group PLC (AIM:AVCT), a clinical stage oncology drug company, said it will advance the first-in-human phase I trial of its AVA6000 pro-doxorubicin cancer drug to the fourth dose cohort.
AVA6000 is a novel form of doxorubicin modified with Avacta's precision delivery platform to improve safety and therapeutic index.
MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC), the developer of plant-based medicines, posted a 57% increase in annual sales, driven by demand for its ArtemiC product and its cannabis-derived medicines.
While revenues hit A$4.6mln for the year to 30 June 2022, the loss for the period was A$17.1mln as the group invested heavily in research and development activities.
Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) chief executive Laxman Narasimhan is leaving the FTSE 100 group after exactly three years, as he wants to leave the UK and move back to the US.
The Durex, Dettol and Cillit Bang owner poached Narasimhan from Pepsi in 2019, looking for a new start after a difficult couple of years.
Rio Tinto PLC (LSE:RIO) said it reached an agreement in principle to acquire full ownership of Canadian mineral explorer Turquoise Hill Resources Ltd for US$3.3bn.
Turquoise Hill owns 66% of Oyu Tolgoi, one of the world’s largest copper and gold deposits, located in Mongolia.
EQTEC PLC (AIM:EQT) is in twin discussions over its Deeside waste-to-hydrogen project, with advanced talks to sell the project and to supply gas and electricity to Toyota for their nearby engine plant.
The company said it and partner Logik Developments expect to enter head-of-terms over a sale of the Deeside project this month.
Cambridge Cognition Holdings PLC (AIM:COG) said it landed a £2.2mln contract to provide cognitive assessments and electronic diaries for a neurodegenerative disease trial.
Specifically, it will deliver the technology for a hybrid study, combining in-clinic with at-home evaluations.
Zaim Credit Systems PLC (LSE:ZAIM), one of the few western-based businesses still operating in Russia, said all lines had continued to grow despite the sanctions imposed after the Ukraine invasion.
Helped by a recovery in the rouble, the payday lender said total loans issued grew by 13% quarter-on-quarter to £9.3mln and 47% year-on-year in the three months to end-June 2022.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) said the deadline to conclude the Mintails SA transaction has been extended to 30 September 2022 to allow the group to conclude the final parts of its due diligence investigation.
In November 2020, Pan African said it had entered into a conditional agreement to buy Mogale Gold Proprietary Ltd and Mintails’ SA Soweto Cluster Proprietary Ltd (MSC), both 100% owned by Mintails SA, which was placed into provisional liquidation in 2018.
NVIDIA Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD) said the US government has told them to stop exporting certain high-performance chips to China.
In a regulatory filing, Nvidia said the block on its artificial intelligence (AI) enabling had been imposed due to risk of the products being used or diverted to a "military end user".
Kainos Group PLC (LSE:KNOS) said trading since the start of its current financial year has continued to be “very strong” across the business and forecast that its results for the current year will meet market expectations.
Both divisions, Digital Services and Workday Practice, have experienced robust trading since the start of April, as new and existing clients maintained high levels of investment in digital solutions, the IT provider said in a statement.