Headlines from the Proactive UK newsroom.
The Bank of England has made an emergency cut in interest rates just hours ahead of the new Tory government’s first Budget. Interest rates have been cut to 0.25% from 0.75% due to the impact of the coronavirus.
Chancellor Rishi Sunak meanwhile is expected to announce a raft of measures to stimulate an economy struggling with the impact of the virus. More money for the NHS, a cut in VAT and lower business rates are among the changes being suggested.
Tiziana Life Sciences (LON:TILS) has said it’s too expedite development of a drug that it believes could help coronavirus patients with severe lung damage. The company’s TZLS-501 is a class of monoclonal antibodies called anti-IL6 and On-the-ground testing in China has revealed they have a role to play in treating patients.
Touchstone Exploration’s (LON:TXP) recorded combined average flows from its Cascudura well in Trinidad of over 10,600 barrels a day following a second test on the upper part of the formation. The result significantly exceeds pre-drill expectations.
Greatland Gold (LON:GGP) has published another set of impressive drilling results from Havieron, its sixth set of bumper numbers from the deposit in Western Australia. One hole returned a gold grade of more than 6 grams a tonne over a width of 82m.