Headlines from the Proactive UK newsroom.
FTSE100 posted early losses sparked by rising US coronavirus infections and China’s trade row with the US. The blue-chip index shed 10 points to 6,112.
Royal Mail PLC (LON:RMG) is to axe 2,000 jobs or more than 20% of its managerial staff as part of a shake-up to save the letters and parcels group £130mln. The postal service, which employs 9,700 managers out of 140,000 staff in total, said the largest reductions will be in senior executive roles and non-operational functions.
easyJet plc (LON:EZJ) has raised £419mln through a placing to ease the financial burden caused by the grounding of its fleet due to coronavirus. The Luton-based airline, which restarted flights on a limited basis earlier this month, placed shares at a 5% discount to the closing price yesterday.
Mitie Group is to buy the facilities management arm of rival Interserve creating an outsource business employing 80,000 people. The deal is costing £271mln.
BATM Advanced Communications (LON:BVC) shares jumped as the tech firm hiked its full-year revenue and earnings expectations. The Bio-Medical division has performed exceptionally well in the first half of 2020, thanks in part to the sale of antigen and antibody testing kits to health authorities.
Directa Plus (LON:DCTA) has paved a road in Kent with the graphene company's proprietary asphalt super-modifier. The AIM-listed company and its Italian partner resurfaced an existing road at East Hill, Dartford.
ReNeuron Group (LON:RENE) has signed a research evaluation agreement with an unnamed “major biotechnology company”. The two companies will collaborate on a technology that can deliver gene-silencing therapeutics.