Sunday, 6 Oct 2024

Connells Announces Cash Offer For Countrywide Plc – Quick Facts

Broncos Report Card: Competitive in all phases, but still another loss to the Chiefs – The Denver Post

Offense — C

Defense — B

Special teams — B

Coaching — B

German Industrial Production Rose for Sixth Month in October

German industrial production rose for a sixth month in October, highlighting the sector’s relative resilience to pandemic restrictions that have battered economies elsewhere.

Output increased 3.2%, twice as much as economists predicted, driven by investment goods. Rising orders, which have now surpassed pre-crisis levels, suggest manufacturing could sustain growth in the months ahead.

Europe’s largest economy has benefited from its strong industrial focus during the crisis as factories have adapted to health and safety rules and remained open during the latest lockdown. Countries with bigger services sectors have fared worse amid restrictions on tourism and hospitality to curb a surge in infections.

Even in Germany, the road to recovery remains long though, with curbs on activity reaching into 2021. The Bundesbank warned last month that the economy could stagnate or even shrink in the final three months of the year.

The Economy Ministry said industrial output reached 96% of the average of last year’s final quarter, but warned that developments continue to be uncertain in light of the pandemic and the partial lockdown.

The European Central Bank is poised to boost its emergency monetary stimulus this week to help support the regional economy until vaccines are widely rolled out and a recovery looks more robust.

— With assistance by Kristian Siedenburg, and Harumi Ichikura

German Factory Order Growth Tops Expectations

Germany’s factory orders growth accelerated more than expected in October to exceed the pre-pandemic level, data from Destatis revealed Friday.

Factory orders grew 2.9 percent on month in October, faster than September’s 1.1 percent rise. Orders were forecast to climb 1.5 percent.

New orders were 0.8 percent higher than in February, when restrictions were imposed due to the coronavirus pandemic.

Excluding major orders, new orders in manufacturing were 1.7 percent higher than in the previous month.

Domestic and foreign orders increased 2.4 percent and 3.2 percent, respectively in October. New orders from the euro area went up 0.5 percent and that from other countries advanced 4.8 percent.

Manufacturers of intermediate goods reported a 2.3 percent monthly rise in orders and orders for capital goods increased 3.8 percent. Meanwhile, consumer goods orders fell 2.2 percent.

Year-on-year, factory orders advanced 1.8 percent in October, in contrast to a 1.1 percent decrease in September.

Data showed that manufacturing turnover growth improved to 4 percent on a monthly basis from revised 1.7 percent in September.

Elsewhere, a survey from IHS Markit showed that Germany’s construction sector continued to contract in November amid uncertainty caused by the pandemic and fewer public sector tender opportunities.

The construction Purchasing Managers’ Index rose to 45.6 in November from 45.2 in the previous month. This was the highest since August.

Northern Vertex Mining, Eclipse Gold Mining To Combine – Quick Facts

Northern Vertex Mining Corp. (NEE.V) and Eclipse Gold Mining Corp. (EGLD.V) have entered into a arrangement agreement to combine in an at-market merger. The shareholders of Eclipse will receive 1.09 shares in Northern Vertex for each Eclipse share by way of a plan of arrangement. Northern Vertex will be the resulting company. Combined company will be comprised of 71% Northern Vertex shareholders, 18% Eclipse shareholders and 11% new shareholders.

The board of directors of Eclipse has unanimously recommended that the Eclipse shareholders vote in favour of the deal.

Syncona: Autolus Presents Data On Progress On AUTO1 Program

Healthcare company Syncona Ltd. (SYNC.L) Monday said its portfolio company, Autolus Therapeutics Plc (AUTL) announced new data highlighting progress on its AUTO1 program.

AUTO1 program is the company’s CAR T cell therapy being investigated in the ongoing ALLCAR Phase 1 study in relapsed / refractory adult B-Acute Lymphocytic Leukemia or ALL.

The company said the data from the ALLCAR study suggests AUTO1’s potential for transformational activity in adult patients with relapsed / refractory ALL.

The company also noted that the Phase 1b/2 pivotal study for the AUTO1 programme is under way and enrolment projections have had to be adjusted in light of the COVID-19 pandemic.

Autolus now expects to enroll patients throughout 2021 with a full data set in 2022.,

The data was presented during the American Society of Hematology or ASH All-Virtual Annual Meeting, held between December 5-8, 2020.

Cisco to buy software firm IMImobile in $730 million deal

FILE PHOTO: The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, U.S., May 4, 2015. REUTERS/Jim Young

STOCKHOLM (Reuters) – Cisco has agreed to buy London-based cloud communications software company IMImobile PLC for 595 pence per share in cash in a deal valued at about $730 million, including debt.

IMImobile provides software and services to businesses to connect with customers through interactive channels including social, messaging and voice.

Connells Announces Cash Offer For Countrywide Plc – Quick Facts

Connells Limited announced a firm cash offer for the entire issued and to be issued share capital of Countrywide plc at a price of 325 pence per Countrywide share. Connells noted that it has increased its proposed offer price by 30 percent. The Connells Board believes its offer is significantly superior to the possible revised transaction involving Alchemy Partners.

The cash consideration values the entire issued and to be issued share capital of Countrywide at approximately 112.1 million pounds and implies an enterprise value of approximately 200.2 million pounds.

Connells urged Countrywide shareholders to accept the offer once it becomes open to acceptances following the publication of the Offer Document.

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