Pound Falls After Close No-Confidence Vote in PM Johnson
0712 GMT – Sterling falls after Monday’s close no-confidence vote in Prime Minister Boris Johnson, which Johnson survived by 211-148 votes. “The triggering of the confidence vote itself along with the fact that 41% of Tory MPs failed to back him [Johnson] are both politically corrosive leaving the Prime Minister wounded,” Victoria Scholar, head of investment at Interactive Investor, says in a note. The pound is “suffering amid a lack of international investor confidence in the U.K. both economically and politically,” she says. GBP/USD falls 0.5% to 1.2472, having hit a two-and-a-half week low of 1.2435, according to FactSet. EUR/GBP rises 0.4% to 0.8570. (jessica.fleetham@wsj.com)
Companies News:
Ted Baker Says Preferred Party for Sale Drops Offer
Ted Baker PLC said Tuesday that it has been notified that its undisclosed preferred counterparty is no longer taking part in its sale process and that it is now reviewing other proposals.
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Pearson to Sell Courseware Businesses in Italy, Germany for GBP163M
Pearson PLC said Tuesday that it has agreed to sell its local K12 Courseware businesses in Italy and Germany to Sanoma Corp. for 163 million pounds ($204.3 million) as part of its strategic review.
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Photo-Me International Upgrades FY 2022 Profit Views After Stronger-than-Expected 1H
Photo-Me International PLC said Tuesday that it has performed above expectations in the first half of fiscal 2022, resulting in a significant rise in revenue and profit for the period and the year as a whole.
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Biffa Receives $1.7 Bln Takeover Offer From Energy Capital Partners
Biffa PLC said Tuesday that it has received a takeover proposal from private equity firm Energy Capital Partners, LLC which values the company at 1.36 billion pounds ($1.70 billion).
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EQT Private Equity, Mubadala to Buy Envirotainer
Swedish private-equity firm EQT AB on Tuesday said that its EQT Private Equity unit and Mubadala Investment Co. will acquire Sweden’s Envirotainer from Cinven Group Ltd. and Novo Holdings, in a deal with an enterprise value of around 2.8 billion euros ($2.99 billion).
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LoopUp Swung to 2021 Pretax Loss After Tough Pandemic Comparables
LoopUp Group PLC said Tuesday that it swung to a pretax loss for 2021 after the previous year benefited from a material spike in the Remote Meetings business at the onset of the Covid-19 pandemic.
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Biffa Investigated by HMRC on Tax Concerns
Biffa PLC said Tuesday that it is currently the subject of an enquiry by the U.K. HM Revenue and Customs department regarding potential misclassification of waste across the industry and landfill tax compliance.
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National Express Group Says 2022 Revenue Tracking Close to 2019 Levels
National Express Group PLC said Tuesday that its 2022 revenue continues to track close to 2019 levels and reinstated its short-term guidance.
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MyHealthChecked Swung to 2021 Net Profit; Revenue Soared
MyHealthChecked PLC on Tuesday reported that it swung to a net profit in 2021, becoming cash generative for the first time.
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Haydale Graphene Industries Sees FY 2022 Revenue Ahead of Market Expectations
Haydale Graphene Industries PLC said Tuesday that it expects to report revenue for fiscal 2022 ahead of market expectations thanks to the strong launch of Hi-Therm and a positive settlement reached regarding a contractual dispute with a U.S. group.
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Gooch & Housego 1H Pretax Profit Rose Despite Fall in Revenue
Gooch & Housego PLC said Tuesday that pretax profit for the first half of fiscal 2022 rose despite a fall in revenue due to pandemic-related factors.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
June 07, 2022 03:29 ET (07:29 GMT)
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