UK Below-Forecast July GDP Reflects Plight of Small Companies
0734 GMT - The U.K.'s lower-than-expected economic growth in July reflects the difficulties small companies are going through, says Douglas Grant, director of Conister, part of Manx Financial Group. The economy's expansion slowed to 0.1% in July from 1% the previous month, official data showed, missing expectations of 0.5% growth in a WSJ poll of economists. "The slight slowdown in economic output reflects the plight of UK small businesses and current default levels caused by the ongoing impact of the pandemic which should be of real concern," he says. "We must acknowledge that the UK's business debt burden has ballooned to unprecedented levels and unfortunately this has already created a relentless flow of weak zombie-like companies falling off a loan default cliff."
Cineworld Reaches Deal With Dissenting Regal Shareholders
Cineworld Group PLC said Friday it has reached an agreement with the dissenting shareholders of Regal Entertainment Group, which was acquired by Cineworld in 2018.
Tritax EuroBox to Raise GBP170 Mln to Fund Acquisition of Logistics Assets
Tritax EuroBox PLC said Friday that it is raising 170 million pounds ($235.2 million) via share issue to acquire logistics assets in continental Europe.
Newmark Security Swung to a FY 2021 Pretax Loss
Newmark Security PLC reported Friday a swing to a pretax loss for fiscal 2021 due to the effects of Covid-19, but said that the company is set up for growth and is expecting to show a rise in revenue in the coming year.
Minds + Machines to Return $80 Mln in Premium-Priced Tender Offer for Shares
Minds + Machines Group Ltd. said Friday that it would return up to 58 million pounds ($80.2 million) to shareholders via a premium-priced tender offer for shares.
Gresham House Swung to 1H Operating Pretax Profit
Gresham House PLC said Friday that it swung to an operating pretax profit for the first half as total income increased, and that it was well set to achieve its priorities for 2021.
Gresham House to Raise GBP40 Mln for Acquisition, Projects Development
Gresham House PLC said Friday that it will raise around 40 million pounds ($55.3 million) through a placing conducted through an accelerated book-build process, and that it will use the net proceeds to fund an acquisition and other development projects.
Target Healthcare REIT Raises GBP125 Mln in Share Issue
Target Healthcare REIT PLC said Friday that it has successfully raised 125 million pounds ($172.9 million) through a share issue.
City of London Group FY 2021 Pretax Loss Widened
City of London Group PLC said on Friday that its pretax loss for fiscal 2021 widened, and that it expects Recognise Bank Ltd.--its medium-sized enterprise lending business--to be granted a full U.K. banking license after capital adequacy requirements are met.
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