Headlines from the Proactive UK newsroom.
The FTSE 100 headed higher as coronavirus second wave fears eased and UK retail sales recovered in May. The blue-chip index was 32 points higher to 6,256.
UK retail sales rose by 12% as shoppers returned to gardening centres and DIY outlets. Purchases here jumped by 42% as the stores reopened after lockdown.
UK government borrowing however rocketed to new a high thanks to coronavirus support measures. Borrowings of £55.2bn were nine times higher than this time a year ago and the most since records began in 1993.
Rio Tinto PLC (LON:RIO) has asked a non-executive director to lead a review of its “heritage management processes” after the mining giant destroyed a 46,000-year-old Aboriginal site in Australia. The caves had been a sacred area since the last ice age.
Tiziana Life Sciences PLC (LON:TILS) has received a US patent for a breakthrough oral formulation of a monoclonal antibody that has been hailed as offering a “transformational avenue for immunotherapies”. This formulation allows Tiziana to work on drugs for Crohn’s, multiple sclerosis and Alzheimer’s disease.
Catenae Innovation PLC (LON:CTEA) said its partner Newcastle Premier Health has successfully completed a proof-of-concept pilot trial of the Cov-ID app. Cov-ID is a GDPR compliant identity documentation exchange system to record an individual’s coronavirus (COVID-19) test status through a mobile application.
Inspiration Healthcare (LON:IHC) has agreed to acquire a designer and manufacturer of ventilators and capital equipment used in neonatal intensive care, for a consideration of £18mln. The medical technology firm said it will complete the acquisition using £16.2mln in cash.