Company news

Fitch downgrades Costa Rica to 'BB'

Fitch Ratings has downgraded Costa Rica’s long-term foreign and local currency issuer default ratings to ‘BB’ from ‘BB+’. The outlooks were revised to stable from negative. The issue ratings on Costa Rica’s senior unsecured foreign and local currency bonds are also downgraded to ‘BB’ from ‘BB+’. The country ceiling was downgraded to ‘BB+’ from ‘BBB-‘. […]

Empiric acquires land for student homes in York

Empiric Student Property has acquired the land and entered into a forward funded development agreement for a 106 bed, premium student accommodation development in York for a total funding commitment of £9.245m. Empiric said the Percy’s Lane development comprises the redevelopment of a site involving the demolition of the existing buildings and the construction of […]

Cherkizovo reports record harvest

Cherkizovo Group has reported a record grain harvest in 2016 with more than 465,000 tons of grain gathered – an increase of 40% from the previous year. Cherkizovo said the record harvest was made possible by a significant investment in new technology and expansion of the company’s fleet of advanced agricultural machinery. The harvesting campaign […]

Boussard & Gavaudan NAV update

Boussard & Gavaudan Holding said the estimated net asset value of its sterling shares was £19.6204 at the close of business on 19 January. The estimated NAV of its euro shares was €22.3545. At 8:51am: (LON:BGHS) Boussard Gavaudan Holding share price was 0p at 1582.5p Story provided by

Grupo Clarin unit closes Pompeya printing plant

Grupo Clarin’s indirectly controlled subsidiary Artes Graficas Rioplatense has ceased to operate its printing facilities in Pompeya, Buenos Aires. The company said the close-down of the facility was due to the strong reorganisation that the commercial printing sector was undergoing, the adoption of new technologies, the changes in marketing strategies and the changes in consumer […]

Antofagasta exits Chile hydroelectric project

Mining giant Antofagasta has agreed to exit the Alto Maipo hydroelectric project in Chile. Antofagasta’s subsidiary Minera Los Pelambres has been reviewing its options over its 40% investment in the project since October following the announcement of a forecast 10-20% total cost overrun. Antofagasta said that yesterday (19 January) the project’s controlling shareholder, AES Gener […]

Abzena signs new ThioBridge licence agreement

Abzena has signed a licensing agreement for its novel site-specific ThioBridge antibody drug conjugate (ADC) linker technology with a San Diego-based biopharmaceutical company. ThioBridge links antibodies and other proteins to drugs. Abzena saiid: “The technology platform is unique in its ability to maintain the stability of the antibody and a consistent drug-to-antibody ratio (DAR), which […]

LoopUp co-CEO awarded MBE

LoopUp co-chief executive Michael Hughes has been awarded an MBE in the New Year’s Honours List. Hughes was recognised for his services to British graduates in Silicon Valley and San Francisco through his work as founder of the Silicon Valley Internship Programme. He said: “It is an incredible honour to be recognised by Her Majesty. […]

Lenta signs lease contracts for 36 supermarkets

Lenta, one of the largest retail chains in Russia, has signed lease contracts with Edisonenergo, part of the ADG Group real estate development company, which is building a network of neighbourhood shopping and entertainment centres across Moscow’s residential areas. The agreements cover 36 locations for future Lenta supermarkets in Moscow shopping and entertainment centres currently […]

Evraz output falls

Evraz said consolidated crude steel production and steel product output, net of re-rolled volumes, decreased by 5.7% and 6.1% respectively in 2016. It said this was mainly due to weak tubular and rail markets in North America, lower crude steel production at EVRAZ ZSMK due to planned capital repairs at blast furnaces in 2016, and […]

AMP funding for first peaking plant project

Aggregated Micro Power Holdings, which specialises in the sale of wood fuels and the development of distributed energy projects, has secured £14.1m of funding for the financing of its first peaking plant project Ashford Power Limited. The project is situated on the Kingsnorth Industrial Estate in Kent and is for 21MW of natural gas reciprocating […]

Boussard & Gavaudan NAV update

Boussard & Gavaudan Holding says the estimated net asset value of its sterling shares was £19.5880 at the close of business on 18 January. The estimated NAV of its euro shares was €22.3174. At 8:46am: (LON:BGHS) Boussard Gavaudan Holding share price was 0p at 1582.5p Story provided by

Hansard strategic alliance in UAE

Hansard Global’s insurance subsidiary, Hansard International Limited, has entered into a strategic alliance with Union Insurance Company, a major local insurer in the United Arab Emirates. Union Insurance has appointed HIL as reinsurer and administrator of its new savings and investment proposition, ‘Infinity’, which will be launched in February. This alliance forms part of Hansard’s […]

Ascential sells Health Service Journal

Ascential has agreed the sale of Health Service Journal to Wilmington for £19m. The sale is expected to complete on 31 January and proceeds will be used to reduce Ascential’s net debt and invest in the business. HSJ is a leading source of information for both public and private health professionals. In 2016 HSJ generated […]

BHP Billiton confirms agreement over Samarco

BHP Billiton has confirmed that a preliminary agreement has been reach with Brazilian federal prosecutors over the Fundao tailings dam failure in November 2015. It said the preliminary agreement between Samarco Mineracao and its shareholders, Vale SA (Vale) and BHP Billiton Brasil and the federal prosecutors office outlines the process and timeline for negotiation of […]

Ariana confirms 37 targets at Salinbas

Ariana Resources has confirmed that 37 target areas have been defined within the Salinbas project following a thorough analysis of all previous data, with several areas prioritised for additional work. Highly significant drill intercepts that warrant follow-up include 125m @ 2.44 g/t Au + 0.3% Cu and 34.5m @ 1.75 g/t Au + 6.13 g/t […]

Metals Exploration appoints Nomad

Metals Exploration has appointed Canaccord Genuity as the company’s nominated adviser and broker. At 4:23pm: (LON:MTL) Metals Exploration PLC share price was 0p at 4.88p Story provided by

Mining Roundup

Galantas Gold Corporation (LON:GAL) is raising up to C$2,535,246 through a proposed private placement of a maximum of 35,000,000 shares at C$0.0725 each. The net proceeds are intended to be used for working capital purposes and to commence development of an underground mine on the Omagh property. * * * The second stage of the […]

Urals Energy output up

Urals Energy’s oil production totalled 756,690 barrels in 2016 and the board has started to investigate potential partnerships to finance and share risk in the execution of its development plans. Production excluding almost four months of production from its new subsidiary, Arctic Oil (which was acquired on 5 September), was 716,873 barrels, which represents an […]

GCP Infrastructure revolving credit increased

GCP Infrastructure has agreed an increase of its £50m revolving credit facility with Royal Bank of Scotland International Limited to £75m. All amounts drawn under the facility are to be used in or towards the making of investments in accordance with the company’s investment policy. At 3:52pm: (LON:GCP) GCP Infrastructure Investments Ltd share price was […]

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