Sterling Could Fall Further After Fed's Powell Speech
0839 GMT - Sterling could extend its losses if Federal Reserve Chair Jerome Powell signals further aggressive interest-rate rises in a speech later Friday at the Jackson Hole symposium, ING says. "A firm reiteration that additional forceful tightening to curb price pressures could remain at the core of Powell's message today," ING analyst Francesco Pesole says in a note. That should strengthen the dollar, sending GBP/USD lower, he says. Sterling's sensitivity to risk means EUR/GBP could also rise if Powell's speech hits market sentiment, he says. GBP/USD falls 0.4% to 1.1784 and EUR/GBP rises 0.4% to 0.8468. Powell's speech is expected at 1400 GMT. (renae.dyer@wsj.com)
Companies News:
UK Regulator Raises Energy Price Cap by 80% to GBP3,549 a Year
U.K. energy regulator Ofgem said Friday that it has raised the country's price cap by 80% to 3,549 pounds ($4,200) a year, and warned that prices could get significantly worse through next year.
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Mode Global Shares Rise on Approval for More Tokens on Cryptocurrency App
Shares in Mode Global Holdings PLC rose Friday after the company said the U.K.'s Financial Conduct Authority confirmed it can add more tokens to the Mode cryptocurrency app.
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TotalEnergies Denies Connection to Russia Military Fuel Supply
TotalEnergies SE on Friday denied speculation that it was involved in producing kerosene for the Russian army via its partnership with natural-gas producer Novatek.
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Alumasc Sells Levolux; Sees 2022 Results in Line
Alumasc Group PLC said Friday that it has sold Levolux Ltd. and that it expects to report results in line with the board's expectations for the year ended June 30.
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Bonhill Sells Business Solutions and Governance Division for GBP723,000
Bonhill Group PLC said Friday that it has sold its business solutions and governance division for a cash consideration of 723,000 pounds ($855,671) to Stubben Edge Group Ltd.
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Oxford Cannabinoid Reallocates Development Budget; Finance Director to Step Down
Oxford Cannabinoid Technologies Holdings PLC said Friday that it is strategically reallocating its drug-development resources, and that Group Finance Director Karen Lowe intends to step down.
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Nanosynth Raises GBP2.9 Mln in Subscription; Pledges Proceeds to Share Agreement
Nanosynth Group PLC said Friday that it has conditionally raised 2.9 million pounds ($3.4 million) through a share subscription, and pledged the gross proceeds to a sharing agreement, allowing it to benefit from increases in share price.
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I3 Energy Lowers 2022 Income Guidance; Increases Dividend
i3 Energy PLC said Friday that it has lowered its net operating income expectations for 2022 and will pay an increased annual dividend for the year.
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Holders Technology Swings to 1H Pretax Loss After Disposal
Holders Technology PLC said Friday that it swung to a pretax loss for the first half following the disposal of its PCB consumable activities in 2021.
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JTC Proposes to Buy New York Private Trust
JTC PLC said Friday that it is proposing to buy a Delaware nondeposit trust company New York Private Trust Co.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
08-26-22 0455ET
