(Reuters) - British pub operator Fuller, Smith & Turner said on Wednesday it received a waiver from its lenders as it launched a share sale to shore up its books in the face of massive pandemic-led losses. The company said it expects a drop of about 80% drop in sales from its pubs and hotels in the full year to March 2021....
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(Reuters) - London's FTSE 100 was unchanged on Wednesday, as weakness in healthcare and banking stocks countered gains in mining shares, while food delivery company Deliveroo slumped 30% on its first day of trading. The blue-chip FTSE 100 index was flat, with healthcare stocks, including AstraZeneca (NASDAQ:AZN) and GlaxoSmithKline, falling between 0.4% and 0.8%. Oil heavyweights BP (LON:BP) and Royal...
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By Nick Carey LONDON (Reuters) - Daimler has got off to a good start in 2021 despite a global shortage of semiconductor chips, and plans to accelerate the shift in its model line-up to electric cars, the Mercedes-Benz maker said on Wednesday. The German company said it expected 2021 to be a significantly better year for revenue, and pretax profits than...
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By Geoffrey Smith Investing.com -- Shares in Deliveroo slumped on their debut on the London Stock Exchange, as concerns about governance and profitability overshadowed the biggest IPO of the year so far in Europe. By 5:05 AM ET (0905 GMT), Deliveroo shares were quoted at 305 pence, some 22% below their IPO price. The shares were priced at the bottom of their marketing...
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By John O'Donnell and Tom Sims FRANKFURT (Reuters) - German towns and cities are pulling money from small, private banks, spooked after losing millions in the closure of Greensill Bank, an experience they said has shattered their faith in the country's government and financial system. Part of financier Lex Greensill's insolvent Greensill Capital,...
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LONDON (Reuters) - Shares in Deliveroo opened well below the price of their initial public offering on Wednesday, and fell as much as 30% to 275 pence after making one of the most anticipated London stock market listings. The 390 pence price tag gave an overall valuation of 7.6 billion pounds ($10.46 billion) for the company, less than initially expected, after...
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(Bloomberg) -- The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region. A frenzy of refinery building in China is set to make the nation the world’s largest crude processor this year. At the same time, a drive to de-carbonize Asia’s...
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(Bloomberg) -- President Joe Biden will unveil his vision for a mass ramp-up in U.S. infrastructure spending Wednesday in Pittsburgh, a city the White House views as a prime example of an old manufacturing hub revitalized by new industries from health care to technology. The administration wants the same type of reorientation that Pittsburgh...
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(Bloomberg) -- The U.S. has a good chance of shucking off the secular stagnation of the last decade and entering a period of markedly faster economic growth as companies take advantage of lessons learned during the pandemic and strong demand fueled by the government to become more efficient. That’s one of the takeaways from...
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By Christiana Sciaudone Investing.com -- Plug Power (NASDAQ:PLUG) jumped 9% after re-announcing plans to build a green hydrogen production plant with Brookfield Renewable. The same news was published on Sept. 24, but it failed to move the market at the time. Plug Power, which supplies hydrogen fuel cells for forklifts, will use renewable energy from Brookfield Renewable’s Holtwood hydroelectric...
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