Wood Group to slash thousands of jobs amid oil price plunge August 16, 2015 Top oil contractor Wood Group has been forced to slash thousands of jobs as tumbling commodity prices continue to ravage key North Sea producers. The FTSE 250-listed firm cut more than 4,000 jobs in six months, with at least 1,000 in Britain, its half-year results are expected to show tomorrow. Earlier this year, Wood Group [...]
Shire looks to lift $30bn bid for rival Baxalta August 16, 2015 Irish drug giant Shire Pharmaceuticals is prepared to top up its offer to woo rival Baxalta to the negotiating table on condition it is given direct access to its books, sources say. Shire made its all-stock $30bn (£19.2bn), or $45 per share, offer last month for US drug maker Baxalta, which has so far [...]
Uber is increasing the size of its security team four-fold August 16, 2015 Taxi app company Uber hopes to have increased the size of its security team from 25 people to 100 people by the end of the year, according to the FT. Read more: Uber vs black cab: Who wins among London passengers? – Brand Index The change comes as the firm, which is worth an [...]
Baxalta hints it will accept a bid from Shire, but only if it offers an extra $5bn August 16, 2015 Shire's attempt to buy Baxalta could prove successful, so long as the pharmaceutical company agrees to add an extra $5bn (£3.2bn) to its original offer. Read more: Shire share price drops following £19bn hostile takeover bid to Baxalta At the beginning of August, Shire made a hostile bid worth an estimated $30bn (£19bn) to [...]
Psst … Warren Buffett’s Berkshire Hathaway could be making a secret purchase August 15, 2015 Psst … Billionaire investor Warren Buffett's Berkshire Hathaway could be quietly making a secret purchase. The most tantalising element of a disclosure, filed with the U.S. Securities and Exchange Commission, was what had been left out. "Confidential information has been omitted from the public Form 13F report and filed separately with the U.S. Securities and Exchange Commission," it said. [...]
FTSE 100 gives up gains for the year August 15, 2015 Britain's top share index has given up its gain for this year, after a choppy week in equity markets. The blue-chip FTSE 100 index finished the week 0.27 per cent lower at 6,550.77. It closed at 6,556.10 at the end of 2014, although it had risen to a record 7,122.74 points in late April. Oil companies led [...]
Universities must work more closely with employers if today’s school leavers are going to flourish August 14, 2015 As another generation of young people receive their A level results, record numbers are expected to head to university next month. This is undoubtedly good news as it’s estimated that people with degrees earn around £200,000 more over their lifetime than those who did not attend university. However, it’s important that people embarking upon [...]
HSBC, Barclays and RBS among nine banks signing up to $2bn US foreign exchange settlement August 14, 2015 Nine banks including HSBC, Barclays and Royal Bank of Scotland (RBS) have agreed a $2bn (£1.3bn) settlement with US investors over currency rigging-accusations. Goldman Sachs, BNP Paribas, Bank of America, JP Morgan, Citibank and UBS also signed up to the deal, according to lawyers negotiating on behalf of the investors. A statement by law firm [...]
BP could face fine of up to $48m for natural gas market manipulation after Hurricane Ike in Texas August 14, 2015 UK oil giant BP could face a $48m fine for manipulating markets in Texas in 2008, after a US judge ruled that it had natural gas prices after a hurricane in the Gulf of Mexico sent prices tumbling. The US Federal Energy Regulatory Commission (FERC) accused BP of manipulating the market to squeeze profits illegally, [...]
US giants get UK makeover: More Britons in top roles at US companies as Coca-Cola names James Quincey president and COO August 13, 2015 Britons are taking the helm at US companies, with Coca-Cola the latest to follow in this trend. The soda giant promoted London-based James Quincey to president and chief operating officer of the company, a promotion that comes hot on the heels of Watford-born Steve Easterbrook taking over at McDonald’s. A Coke veteran of 19 years, [...]
