Symrise To Acquire Giraffe Foods From Graham Partners, And Powell Family – Quick Facts

Monks Investment Trust H1 Net Return Down; Stock Up

Monks Investment Trust plc. (MNKS.L) reported Tuesday that its first-half net return on ordinary activities before taxation was 210.13 million pounds, compared to last year’s 518.65 million pounds.

Net return per ordinary share declined to 88.15 pence from 232.27 pence last year. Revenue earnings per share were 2.54 pence, compared to 2.76 pence a year ago.

Gains on investments were 203.59 million pounds, down from 513.86 million pounds a year ago.

Over the six-month period, the company produced a positive net asset value or NAV return of 6.5 percent, compared to an increase of 8.9 percent for the FTSE World Index, both in total return terms.

The company noted that over the 5 years to the end of October 2021, the NAV total return has been 148.0 percent, and the share price total return 157.8 percent, compared to the comparative index total return of 83.6 percent.

In London, Monks Investment Trust shares were trading at 1,388 pence, up 1.91 percent.

General Motors Raises FY Outlook; To Build A Cathode Plant In North America

Auto giant General Motors (GM) has raised its 2021 profit outlook reflecting demand for vehicles in the U.S., despite ongoing global shortage of chips that has affected the auto manufacturer’s production.

According to CFO Paul Jacobson, General Motors now expects full-year 2021 adjusted EBIT to be about $14.0 billion, higher than the previous outlook of the high end of the range of $11.5 billion to $13.5 billion.

Separately, General Motors and POSCO Chemical announced plans to form a joint venture to build a factory in North America to process critical battery materials for GM’s Ultium electric vehicle platform.

The joint venture will process Cathode Active Material (CAM), a key battery material that represents about 40 percent of the cost of a battery cell. The location of the facility will be announced later. The project, which will create hundreds of jobs, is expected to opens in 2024.

“Our work with POSCO Chemical is a key part of our strategy to rapidly scale U.S. EV production and drive innovation in battery performance, quality and cost,” said Doug Parks, GM executive vice president, Global Product Development, Purchasing and Supply Chain. “We are building a sustainable and resilient North America-focused supply chain for EVs covering the entire ecosystem from raw materials to battery cell manufacturing and recycling.”

The new facility will supply the Ultium Cells LLC facilities GM and LG Energy Solution are building in Lordstown, Ohio and Spring Hill, Tennessee.

Avast To Acquire U.S.-based Self-sovereign Identity Pioneer Evernym

Prague-based Avast (AVST), a global provider of digital security and privacy, on Thursday announced the acquisition of privately held Evernym, a U.S.-based software company that develops decentralized, self-sovereign identity applications.

Financial details of the deal are not disclosed. The acquisition is expected to close in mid-December and the general availability of the products based on the Evernym technology would follow in 2022.

Evernym’s ground-breaking approach to digital identity provides consumers with autonomy over their online presence by keeping their personal information with them and out of centralized databases. Awarded ‘Technology Pioneer 2021’ by the World Economic Forum, Evernym is already embedded in industries such as travel and finance where Evernym’s technology is at the heart of the IATA (International Air Transport Association) Travel Pass, and also powers Bonifi’s ‘MemberPass’ solution for community financial institutions.

Shares of Avast are currently trading at 614 pounds, up 2.60 pounds or 0.43 percent from previous close.

Tighter Covid restrictions could reportedly be announced for England as omicron spreads

  • The U.K. government could be poised to announce more Covid restrictions for England as soon as Wednesday, according to a report in the Financial Times.
  • The move comes amid concerns over the spread of the omicron variant.
  • Sources told the paper that the government had decided to implement its so-called "Plan B" of increased restrictions.

LONDON — The U.K. government could be poised to announced more Covid restrictions for England amid concerns over the spread of the omicron variant, according to a report in the Financial Times on Wednesday.

The paper, which cited three unnamed senior Whitehall officials, said the sources had told the newspaper that the government had decided to implement its so-called "Plan B" of increased restrictions, including vaccine passports for large venues and an order to work from home.

The new restrictions could be announced at a press conference as early as Wednesday with regulations laid before Parliament on Thursday, according to government insiders speaking to the paper.

Downing Street did not immediately respond to requests for comment when contacted by the FT.

This is a breaking news story, please check for further updates.

Symrise To Acquire Giraffe Foods From Graham Partners, And Powell Family – Quick Facts

Symrise (SYIEY.PK,SYIEF.PK) has signed a purchase agreement for the acquisition of Giraffe Foods Inc. Based in Mississauga, Ontario, Canada, Giraffe Foods is specialized in the formulation and manufacturing of custom flavor solutions for North American B2B customers in the food service, home meal replacement and retail sectors of the food industry. As part of the deal, Symrise will acquire the existing two production facilities and one warehousing site and integrate the approximately 250 employees of Giraffe Foods. The purchase amount has not been disclosed.

“By combining Symrise’s Flavor & Nutrition expertise with Giraffe Food’s custom formulation capabilities, we aim to become a leader in integrated taste solutions in North America to always better serve our customers,” said Jean-Yves Parisot, President Flavor & Nutrition of Symrise AG.