BOE Likely to Raise Rates Further as Inflation Expected to Persist, MPC's Mann Says

0924 GMT - The Bank of England's next move is more likely to be to raise rates further than to cut or hold them as there are still "material upside risks to our inflation outlook," Monetary Policy Committee member Catherine L Mann says in a speech in Budapest. "We need to stay the course, and in my view the next step in Bank Rate is still more likely to be another hike than a cut or hold," she says. Before switching course, Mann would like to see "a significant and sustained deceleration in higher frequency price increases and in the underlying inflation measures and expectations towards inflation rates that are consistent with achieving the 2% target." (

Companies News: 

Diageo Launches Tender Offer to Increase Stake in East African Breweries

Diageo PLC said Monday that it has launched a partial tender offer to increase its stake in East African Breweries PLC to up to 65% from the 50.03% currently owned through its subsidiary Diageo Kenya Ltd.


Croda International Buys Solus Biotech for GBP232 Mln

Croda International PLC said Monday that it has agreed to buy Solus Biotech from Solus Advanced Materials Co. for around 232 million pounds ($279.7 million) to expand its Asian manufacturing capability.


Bonhill Gets InvestmentNews Offer, Ends Sales Process; Sees 2022 Revenue Falling

Bonhill Group PLC said Monday that it has concluded a formal sales process and it has received an offer for InvestmentNews LLC, and it expects 2022 revenue to fall.


88 Energy Raises A$17.5 Mln via Discounted Share Placing

88 Energy Ltd. said Monday that it has raised 17.5 million Australian Dollars (US$12.1 million) via an oversubscribed share placing and will use the money toward the planned Hickory-1 well at Project Phoenix, expansion opportunities and for working capital.


Seeen to Report Narrowed 2022 Loss Despite Revenue Fall; Secures New Contract

Seeen PLC said Monday that it expects to report narrowed adjusted losses for 2022 despite a fall in revenue, and that it has secured a new contract expected to generate $1 million a year.


Just Group Says Targets Remain Unchanged Under IFRS 17

Just Group PLC on Monday said that its growth targets, cashflows and dividend policy remain unchanged under the IFRS 17 accounting standards implemented on Jan. 1.


3i Infrastructure to Raise Funds to Partly Repay Debt, for Investments

3i Infrastructure PLC said Monday that it is planning to raise funds via a share placing and will use part of the money to repay a debt facility and toward future investments.


B90 Holdings Sees 2022 Revenue of More Than $2.3 Mln; Raises Around $600,000

B90 Holdings PLC said Monday that it expects to report revenue for 2022 of slightly more than 2.1 million euros ($2.3 million) and a narrowed loss on year after the business continued to perform in line with management expectations during the second half.


Cora Gold to Raise at Least $19.6 Mln to Develop Sanankoro Gold Project in Mali

Cora Gold Ltd. said Monday that it plans to raise at least $19.6 million through an equity fundraising and convertible loan notes, with the proceeds to be used toward the development of the Sanankoro gold project in Mali.


EKF Diagnostics Sees 2022 Adjusted Ebitda Missing Market Views; CEO Steps Down

EKF Diagnostics Holdings PLC said Monday that it expects to report that 2022 adjusted earnings slightly missed market views, and that Chief Executive Officer Mike Salter will step down immediately.


Engage XR to Raise up to GBP9.4 Mln via Share Placing, Subscription

Engage XR Holdings PLC said Monday that it is planning to raise up to 9.4 million pounds ($11.3 million) via a share placing and subscription and will use the money toward working capital and general corporate purposes, and for sales and marketing.


Plant Health Care 2022 Ebitda Loss Narrowed on Higher Revenue

Plant Health Care PLC said Monday that its 2022 core earnings loss narrowed as revenue rose on higher demand for its products.


Vast Resources Shares Fall on Discounted GBP2.4 Mln Fundraise

Vast Resources PLC shares fell Monday after the company said it has raised 2.4 million pounds ($2.9 million) through a placing and subscription, to be used on its Romanian polymetallic mine.


Iofina Shares Rise on Expectations for 2022 Earnings Beating Market Views

Iofina PLC shares rose Monday after the iodine producer said it expects to report 2022 earnings materially ahead of market views, with revenue in line.


Hummingbird Resources' Shares Rise on 4Q Production Boost -- Commodity Comment

Shares of Hummingbird Resources PLC rose 11% on Monday after the company reported a 67% rise in production over the last quarter of 2022 and said that it expects improved cash flow generation and a stronger balance sheet this year. Here's what the AIM-listed mining company had to say:


Sosandar Nonexecutive Chairman Bill Murray Dies

Sosandar PLC said Monday that Nonexecutive Chairman Bill Murray died over the weekend.


Oracle Power Shares Drop on Discounted Share Placing

Shares in Oracle Power PLC fell 19% on Monday after the company said it has raised 500,000 pounds ($602,800) via a discounted share placing, with the proceeds to be used to support the development of its green-hydrogen project in Pakistan.


Zamaz Shares Rise After Termination of Convertible Loan Note Facility

Zamaz PLC shares rose Monday after it said it has terminated its convertible loan note facility with Atlas Capital Markets through mutual agreement.


Eqtec Expects to Meet 2022 Revenue Guidance

Eqtec PLC said Monday that it expects 2022 revenue to meet guidance.


Trellus Health Chairman Steps Down, Daniel Mahony Named Successor

Trellus Health PLC said Monday that Nonexecutive Chairman Julian Baines will stand down from the board with immediate effect, with Senior Independent NonExecutive Director Daniel Mahony named successor.


Greatland Gold Names New COO, Chief Development Officer

Greatland Gold PLC said Monday that it has appointed Simon Tyrrell as chief operating officer and Jeremy Meynert as chief development officer.


Shanta Gold Names Michal Devine as New CFO, Honest Mrema as COO

Shanta Gold Ltd. on Monday said Michal Devine will become chief financial officer on March 23 as Luke Leslie steps down from the role to pursue other opportunities.


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(END) Dow Jones Newswires

February 06, 2023 04:42 ET (09:42 GMT)

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