Virgin Money’s Sunny Outlook for the U.K.: The London Rush

(Bloomberg) -- Here's the key business news from London-listed companies this morning:

Virgin Money UK Plc: The bank is “optimistic about the pace of recovery of the U.K. economy,” despite new coronavirus variants and concerns over inflation.

The company increased its net interest margin forecast for this year, saying growth in higher-yielding lending will offset competition for mortgages and the savings market returning to normality for the remainder of the year

AG Barr Plc: The Irn-Bru maker has felt the effect of inflation, especially across its packaging and energy-linked commodities.

Despite this, the company increased its full-year revenue forecast again, now expecting the top line to be ahead of its pre-pandemic performance

Cineworld Plc: The cinema chain entered talks with former shareholders of Regal Entertainment Group on adjusting its payment obligations for a settlement they reached in September.

Outside The City

Prime Minister Boris Johnson came under fire from his own party after an update from the Cabinet Office investigation into gatherings at Downing Street during lockdown found a “serious failure” to observe standards.

Today, Johnson's concerns will turn to international affairs as he travels to Ukraine to meet its president. Meanwhile, Russian Foreign Minister Sergei Lavrov and U.S. Secretary of State Antony Blinken will speak by phone as diplomatic efforts to deescalate the situation continue.

Looking Ahead

Tomorrow, Vodafone Group Plc will report third-quarter sales after Bloomberg reported that activist investor Cevian Capital AB has built a stake with the intention of agitating for improved performance.

Later on Wednesday, shareholders in gambling software provider Playtech Plc will vote on a takeover offer from Aristocrat Leisure Ltd.