Persimmon narrowly dodges revolt over new director Nigel Mills and executive pay, as shares slump over sales slowdown April 14, 2016 Persimmon narrowly avoided a revolt today over the appointment of Nigel Mills to the board after shareholders raised concerns over his links to the housebuilder's financial advisers. More than 47 per cent of shareholders voted against appointing Mills as an non-executive director at the company's annual general meeting held at York race course – with 107m votes in favour [...]
Pressure mounts on oil producers ahead of meeting in Doha on Sunday April 14, 2016 The stage has been set for what will be the first coordinated action among Opec and non-Opec producers in 15 years – and failure to deliver could spark ire among already harangued oil investors. Talk of a potential freeze deal at the meeting in Doha on Sunday has helped oil prices recover from near 12-year [...]
FTSE clings on to 2016 high, despite poor results from Burberry and Persimmon April 14, 2016 It went down, then up, then did it all again, but the FTSE 100 managed to cling on to its 2016 high day in a confusing day of trading, closing at 6,363 – up 0.01 per cent. Despite the tiny move higher, the biggest stories came from the losers. Housebuilder Persimmon was on shaky foundations at its [...]
This underground arts venue has just opened inside Brunel’s Thames Tunnel entrance – 190 years after it was first built April 14, 2016 An historic underground shaft in south east London that once served as the entrance to the world's first underwater tunnel has been reopened as an arts and music performance venue. The Thames Tunnel – designed by engineers Marc Brunel and his son Isambard Kingdom – is considered one of the greatest feats of 19th century engineering and also paved [...]
IPO market in Europe, Middle East and Africa set for growth in April after worst start to year since 2009 April 14, 2016 The initial public offering (IPO) market is set for growth this month after enduring its slowest start to the year since 2009. An additional 15 deals valued at $1.1bn (£776m) are expected to be priced by the end of April across Europe, the Middle East and Africa (EMEA), according to Dealogic. This would take the total [...]
Legal & General bolsters £250m build to rent pipeline after buying Salford scheme April 14, 2016 Insurance giant Legal & General Capital and its joint venture partner, Dutch pension fund manager PGGM, have announced plans to build more rental properties in Greater Manchester, boosting its pipeline of build to rent homes to 800 across the UK. The two companies joined forces in January to launch a £600m fund to build large-scale private rental housing across the [...]
BATS Global Markets IPO set to be valued at $250m, making it US’s biggest offering deal of 2016 so far April 14, 2016 BATS Global Markets, a US-headquartered stock exchange operator, is set to go public tomorrow. The company's initial public offering (IPO) is expected to be valued at around $250m (£176.5m), making it the biggest US deal of the year so far. Read more: IPO K.O.: Global volume of deals plunges to seven-year low The firm is offering [...]
BP shareholders reject chief exec’s £14m pay package April 14, 2016 BP shareholders have voted to reject chief executive Bob Dudley's 20 per cent pay rise at its general meeting today. Shareholder ire had been stoked because the proposed payout comes against a backdrop of shrinking profit margins and thousands of job cuts at the oil giant. However, today's vote is "advisory", meaning even a vote against will [...]
Boris Johnson delays public hearing over £800m Bishopsgate Goods Yard development after opposition to plans April 14, 2016 Boris Johnson has delayed a decision over £800m plans for a towering high-rise scheme in London's East End, which opponents have warned would "destroy the heart of Shoreditch". The Bishopsgate Goods Yard site, a joint venture between Hammerson and Ballymore, has faced fierce opposition from Hackney Council and campaign groups including More Light More Power on the grounds that [...]
IEA: Oil oversupply will finally start drying up in the second half of 2016 April 14, 2016 The embattled oil market will start to rebalance in the second half of this year, as Opec's grand master plan to price out US shale gas producers starts to bear fruit. The International Energy Agency expects that the surplus will fall to 0.2m barrels per day (bpd) in the second half of this year, down from 1.5m [...]
