Fund manager ditches BG shares as the oil price outlook darkens January 3, 2016 The takeover of oil firm BG Group by behemoth Royal Dutch Shell is facing further investor woes. US fund management firm Capital Group sold £417m of BG shares in December stock exchange filings reveal. Capital Group, also a big investor in Shell, is the latest fund manager to appear sceptical about the deal, which was agreed [...]
Ex-boss of Persimmon boss Mike Farley lands £19m bonus two years after leaving housebuilder January 3, 2016 The former boss of Persimmon Mike Farley collected nearly £20m in shares on New Year’s Eve, more than two years after leaving the housebuilder. The payout is part of long-term incentive scheme launched three years ago for its top 140 executives worth hundreds of millions of pounds. Farley was granted 966,400 shares despite the scheme being [...]
Legal & General sale of Dutch retail unit possible in 2016, as company sheds non-core businesses after last year’s disposals of Egypt and Ireland ventures January 3, 2016 Legal & General is mulling over the decision to sell its Dutch retail business. The financial services giant is considering a sale in 2016 as part of a wider plan to leave non-core businesses. In November last year, Legal & General, which is headquartered in London and had 10m customers worldwide at the end of [...]
Barclays reportedly reviewing allowance practices in light of EU banker bonus cap January 3, 2016 Barclays is reportedly reviewing its compensation programme to make sure that bonus and “allowance” payments comply with increasingly strict European Union regulations. The EU’s bonus cap, intended to discourage bankers from taking excessive risks, limits annual bonuses to 100 per cent of an employee’s salary, or 200 per cent with shareholders’ approval. To circumvent the [...]
The FCA has dropped two more banking probes after shelving a major review into industry culture January 1, 2016 Britain's financial watchdog has reportedly dropped two more probes into the banking industry, in the wake of its u-turn on a major review into the culture, pay and behaviour of those who work in the industry. The Financial Conduct Authority (FCA) has scrapped a study into the way lenders incentivise their staff to sell financial products, and will [...]
At the close: FTSE 100 index closes down on commodities and banks December 30, 2015 The FTSE 100 index closed down today over renewed fears of weakness in commodity markets and concerns over bank stocks after reports the Chinese central bank suspended a number of foreign banks from conducting some foreign exchange business. The UK's top blue-chip index shut 0.64 per cent down at 6,274 points, led lower by Glencore, [...]
Ocado share price tumbles and Amazon’s Pantry grocery delivery is to blame December 30, 2015 Shares in upmarket online grocery delivery company Ocado took a hammering in morning trading after news Amazon is expanding its fresh produce service, Pantry, pegging the retail giant as a serious contender in the already highly competitive food delivery market. Shares were down as much as 7.9 per cent on Wednesday, touching a 12 month intraday low of 299p per share, making a [...]
Pharmaceuticals giant KalosBios files for bankruptcy after firing “pharma bro” Martin Shkreli as chief executive December 30, 2015 KalosBios, the company which ousted self-styled "pharma bro" Martin Shkreli as its chief executive earlier this month after he was arrested on charges of securities fraud, has filed for Chapter 11 bankruptcy. Reuters reported that the US pharma giant had listed assets and liabilities of between $1m and $10m in its filing with a court [...]
Facebook faces lawsuits over its growth forecasts ahead of IPO in 2012 December 30, 2015 A US judge has given the go-ahead to two lawsuits accusing Facebook of hiding concerns over growth forecasts ahead of its initial public offering (IPO) in 2012. Facebook floated around three-and-a-half years ago at $38 per share. But initial investors would've lost out after its share price fell as low as $17.55 a few months later, and stayed below the [...]
Warren Buffett’s Berkshire Hathaway heading for worst year relative to rest of the US stock market since 2009 December 30, 2015 The Oracle of Omaha is set for his worst investment year since 2009. Shares in revered investment guru Warren Buffett's Berkshire Hathaway are down 11 per cent, in the same year Buffett celebrates his golden anniversary running the company. Berkshire Hathaway has suffered as a number of investments were hit by falling oil and gas prices. While the company doesn't [...]
