26 April

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British fraud office’s case against former Serco execs falls through By Reuters

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(Reuters) - Britain's fraud office said on Monday a court had dismissed its plea to adjourn a hearing against two former Serco executives, after the regulator found errors with disclosures it had made in its case related to prisoner tagging contracts. The judge directed the jury to return verdicts of not guilty, after the Serious Fraud Office (SFO) sought to pursue a retrial that could remedy the errors made in the "non-disclosure of certain materials", the SFO said in a statement. ...

26 April

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German govt revises 2021 growth forecast up after strong Q4 – source By Reuters

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By Holger Hansen BERLIN (Reuters) - The German government has raised its growth forecast for this year to 3.5%, compared with the 3% growth it was expecting back in January, a source said, adding that the upward revision was justified by a stronger-than-expected fourth quarter. The source added that the government expected Europe's largest economy to expand by 3.6% in 2022. The economy ministry declined to comment on the figures. The government is due to present its 2021 economic growth forecast on Tuesday. Germany's leading economic institutes said earlier this month they expected the gross...

26 April

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Stronger pound drags FTSE 100 lower; midcaps outperform By Reuters

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By Devik Jain (Reuters) -London's FTSE 100 edged lower on Monday as heavyweight export-oriented companies slipped on a stronger pound, while a rally in shares of IMI (LON:IMI) helped the mid-cap index outperform the blue-chip index. The FTSE 100 fell 0.1% as large dollar-earning consumer staples companies such as Diageo (LON:DGE), British American Tobacco (LON:BATS), and Unilever (LON:ULVR) dropped after the pound strengthened. However, the losses were limited as miners added 1.4% after copper prices hit their highest in over 10 years. [MET/L] Aero and defence stocks also rose, with...

26 April

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UK Post Office ex-CEO quits Morrisons and Dunelm boards after IT scandal By Reuters

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LONDON (Reuters) - The former boss of Britain's Post Office, Paula Vennells, stood down from the boards of retailers Morrisons and Dunelm on Monday after a miscarriage of justice resulted in sub-postmasters being wrongly prosecuted. Hundreds of sub-postmasters were prosecuted between 2000 and 2014 after a software glitch in the Post Office's IT system Horizon resulted in shortfalls in accounts. In December 2019, the Post Office agreed to settle claims made by 555 sub-postmasters, and on Friday, 39 sub-postmasters had their criminal convictions overturned by the Court of Appeal. Vennells, who was Post Office chief...

26 April

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UK shopper numbers down 3.4% last week after previous week’s surge – Springboard By Reuters

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LONDON (Reuters) - Shopper numbers across Britain fell 3.4% in the week to April 24 versus the previous week which had benefited from the reopening of non-essential stores in England and Wales after three months of COVID-19 lockdown, researcher Springboard said on Monday. It said shopper numbers, or footfall, last week was 19.9% below the 2019 pre-pandemic level. ...

26 April

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Check Point Software Earnings, Revenue beat in Q1 By Investing.com

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Check Point Software (NASDAQ:CHKP) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations. Check Point Software announced earnings per share of $1.54 on revenue of $508M. Analysts polled by Investing.com anticipated EPS of $1.5 on revenue of $502.35M. Check Point Software shares are down 9% from the beginning of the year and are trading at $119.80 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is up 8.17% from the start of the year. Check Point Software follows other major Technology sector earnings this month Check Point...

26 April

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Former Post Office CEO quits non-exec director roles at Dunelm and Morrisons By Investing.com

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By Samuel Indyk Investing.com – Paula Vennells, the former CEO of the Post Office between 2012 and 2019, has quit her non-executive director positions at both Dunelm (LON:DNLM) and Morrisons (LON:MRW), following a court of appeal ruling on Friday. The ruling overturned the wrongful convictions of 39 former postmasters who were prosecuted based on information from a faulty computer system called Horizon. Vennells’ resignation was mutually agreed by both companies following the announcement on Friday. “I am truly sorry for the suffering caused to them as a result of the convictions which the Court of Appeal...

26 April

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Exclusive: ArcelorMittal, Vattenfall form hydrogen consortium with Shell, Airbus By Reuters

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By Vera Eckert and Tom Käckenhoff FRANKFURT (Reuters) - ArcelorMittal, the world's top steelmaker, and Swedish utility Vattenfall have teamed up with Shell (LON:RDSa), Airbus and other heavyweights to cut emissions in industrial processes by using hydrogen, two executives said. One focus of the 12-member consortium, which also includes Japan's Mitsubishi Heavy Industries, will be the production of carbon-neutral steel in the port city of Hamburg, the executives said. "Within the Hamburg hydrogen co-operation, we will be able to save one million tonnes of carbon dioxide (CO2) annually (up to 2030)," ArcelorMittal executive Uwe Braun said....

26 April

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Equinor delays Hammerfest LNG restart to March 2022 By Reuters

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By Nora Buli OSLO (Reuters) -Norwegian oil and gas company Equinor has revised the estimated start-up date for its Arctic LNG plant at Hammerfest to March 31 next year to allow more time for repairs after a fire last year, it said on Monday. A September 2020 blaze shut down production at the Melkoeya plant, also known as Hammerfest LNG, and Equinor had previously scheduled a restart for Oct. 1 this year. The six-month delay reflects the need for comprehensive repair work that has been hampered by operational measures to handle the COVID-19 situation, Equinor said....

26 April

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Mustier and Arnault-backed Pegasus launches Amsterdam SPAC listing By Reuters

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By Abhinav Ramnarayan and Simon Jessop LONDON (Reuters) -France's richest man Bernard Arnault and former Unicredit (MI:CRDI) head Jean Pierre Mustier launched the 500 million euro ($605.40 million) listing of their special purpose acquisition (SPAC) in Amsterdam on Monday, the bookrunners on the deal said. Pegasus Acquisition Company Europe B.V. aims to target opportunities in the financial services sector and joins a wave of similar listings in Europe and the United States. A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held company, that then...

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British fraud office’s case against former Serco execs falls through By Reuters

German govt revises 2021 growth forecast up after strong Q4 – source By Reuters

Stronger pound drags FTSE 100 lower; midcaps outperform By Reuters

UK Post Office ex-CEO quits Morrisons and Dunelm boards after IT scandal By Reuters

UK shopper numbers down 3.4% last week after previous week’s surge – Springboard By Reuters

Check Point Software Earnings, Revenue beat in Q1 By Investing.com

Former Post Office CEO quits non-exec director roles at Dunelm and Morrisons By Investing.com

Exclusive: ArcelorMittal, Vattenfall form hydrogen consortium with Shell, Airbus By Reuters

Equinor delays Hammerfest LNG restart to March 2022 By Reuters

Mustier and Arnault-backed Pegasus launches Amsterdam SPAC listing By Reuters

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