RPS Group Posts HY Loss – Quick Facts
RPS Group Plc (RPS.L) reported that its loss attributable to equity holders of the parent for the six months ended 30 June 2020 was 31.9 million pounds or 14.06 pence per share compared to profit of 9.8 million pounds or 4.35 pence per share in the prior year. The Group’s performance was impacted by the COVID-19 pandemic.
Loss before tax was 34.1 million pounds compared to profit of 13.1 million pounds in the prior year.
Adjusted earnings per share was 2.03 pence compared to 6.38 pence in the prior year.
Fee Revenue was 232.4 million pounds compared to 266.0 million pounds in the previous year.
The company said its board is not proposing a 2020 interim dividend, due to the ongoing impact of COVID-19 on the Group’s profit and restrictions within the short term 60 million pounds RCF liquidity facility.
RPS also separately announced a proposed Placing and Subscription of shares, which together will not exceed 19.99% of the Group’s existing share capital, as well as proposed amendments to its banking facilities which are conditional on the equity raise.
RPS plans to conduct a non-pre-emptive placing of new ordinary shares of 3 pence each in the capital of the Company at a price of 44 pence per Placing Share.
In conjunction with the Placing, certain directors of the company intend to subscribe for new ordinary shares of 3 pence each in the capital of the company at the Placing Price to contribute 555 thousand pounds in aggregate.
In addition to its existing 100.0 million ponds committed revolving credit facility, on 27 April 2020 the Group announced an additional twelve month 60.0 million pounds revolving credit facility.
People Are Feeling All Kinds Of Weird About One Of Donald Trump’s Latest Tweets
Twitter users said they felt all kinds of weird after President Donald Trump used emoji in a post on Wednesday.
Trump used what appeared to be the winking face and the worried face emoji in this tweet attacking Democratic 2020 rival Joe Biden and boasting about the rising stock market:
“Has the president ever tweeted a wink emoji before? This feels so weird,” tweeted CBS White House reporter Kathryn Watson.
Joked another user: “Pretty sure Trump learning how to use emojis was the last foretold sign of the end of the world?”
Critics pointed out that the stock market is not the economy and suggested Trump had not written the post himself.
CMA Begins Its Investigation Related To Sinch/SAP Deal – Quick Facts
The Competition and Markets Authority, or CMA, has launched its merger inquiry regarding the anticipated acquisition by Sinch of the SAP Digital Interconnect Unit from SAP SE. The CMA started the investigation by notice to the companies on 2 September 2020 and has a deadline of 28 October 2020 for its phase 1 decision.
The CMA is considering whether it is or may be the case that the deal, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition.
Ford Plans To Cut 1,400 U.S. Salaried Jobs
Ford Motor plans to cut about 1,400 U.S. salaried jobs by year end as part of an $11 billion global restructuring plan that was started two years ago, according to reports citing the company’s memo sent to employees.
The layoffs will be achieved through voluntary buyouts. The buyouts will be offered to employees who are eligible for retirement, the reports said.
The job cut announcement comes as current chief executive officer Jim Hackett is planning to retire. Incoming chief executive office Jim Farley will take over on October 1.
The new job cuts will be in addition to 2,300 previously announced salaried job reductions in the U.S. during Hackett’s tenure.
Last year, Ford reduced its manufacturing footprint and eliminated thousands of jobs in Europe.
Ford laid off 7,000 salaried employees worldwide last year in the first round of the job cuts, and expected to save $600 million per year. The carmaker had a worldwide workforce of 190,000 people at the end of 2019.
See Google Maps' new, more colorful look
New York (CNN Business)Google Maps has added a new feature to its app: traffic lights at intersections in a number of US cities.
The tech company made the change “to help people stay better informed on the road,” a Google spokesperson said. The new road icons are visible in the app at intersections throughout US cities on both Android and iOS.
Google’s latest redesign for its navigation app, was unveiled last month. The update includes a “color-mapping algorithmic technique” to help users more easily identify varying terrain types such as beaches and forests. The company said the Google Maps redesign also will include re-drawings of sidewalks and pedestrian islands for better navigation viewing.
The feature showing traffic lights at intersections had previously been available on Google Maps in Japan for years, according to the company.
Earlier this year, Google Maps began testing the traffic lights feature in select cities throughout the United States, the tech giant confirmed to The Verge in July.
Communicorp Recalls Plush Aflac Doctor Duck For Lead Concerns
Columbus, Georgia -based Communicorp Inc. is recalling Plush Aflac Doctor Duck citing higher lead concerns, the U.S. Consumer Product Safety Commission announced.
The recall involves about 635,500 units of six inch plush Aflac promotional Doctor Duck, which is in white with a yellow beak and feet. It is dressed in a white lab coat with buttons and a stethoscope. “Aflac” is printed on the front of the duck’s lab coat.
The affected products were manufactured in China, and distributed by Beverly Hills Teddy Bear Co. They were sold directly to Aflac employees and licensed agents from January 2005 through July 2020 for between $3 and $5. The plush ducks were distributed by Aflac to consumers as a promotional item.
According to the agency, the buttons on the lab coat worn by the Doctor Duck contain levels of lead that exceed the federal lead content standard. Lead is toxic if ingested by young children and can cause adverse health issues.
However, the company has not received any reports of incidents or injuries to date.
Consumers are asked to immediately dispose of the recalled plush Doctor Duck.
Citing lead concerns, Hasbro last week recalled 52,900 Nerf Super Soaker water guns sold at Target, and Avalon Furniture in early July called back about 9,500 units of Cottage Town Bedroom Furniture collection sold through Rooms To Go.