Trafigura sells Puma stake for $500m
Trafigura, one of the world’s largest commodities trading houses, has raised $500m from the sale of a 10 per cent stake in Puma Energy in a deal that makes a stock market flotation of its fast-growing petrol station and oil terminal unit less likely. The company, which is looking to expand beyond pure trading, has previously said it would consider spinning off Puma to fund growth and expansion.
Sexism still rife in fund companies
Almost a third of female asset management staff have been subjected to sexual harassment at work, while more than half have endured regular sexist behaviour in the office. According an FTfm survey of 340 global fund management staff, 55 per cent of women say they have been on the receiving end of “inappropriate” behaviour in the office. Over a third say they are subject to sexist conduct on a monthly or weekly basis.
Google showcase comes at a premium
Anyone in the US doing their holiday shopping from the product showcases that appear at the top of Google’s search results is almost certain to pay substantially more than if they delved deeper in the search engine. Five out of every six items in the panels shown on a Google search made in America are more expensive than the same items from other merchants hidden deeper in the index, with an average premium of 34 per cent, according to a Financial Times analysis.
Name and shame for late-paying firms
Companies that fail to pay small and medium-sized businesses on time could be named and shamed through a “Trip Advisor approach”, under a proposal being considered by the Government.
Tax advantages for landlords unfair
Taxpayers are providing £5bn worth of annual subsidies to buy-to-let landlords who are blocking first-time buyers from getting a foot on the property ladder. According to research from the Intergenerational Foundation, tax reliefs available to buy-to-let investors but not to owner occupiers give landlords an unfair advantage.
The Daily Telegraph
Edinburgh Woollen Mill to create jobs
The Edinburgh Woollen Mill Group, one of the biggest operators of high street shops in the UK, plans to create more than 1,100 new jobs over the next 18 months by opening new stores. Newly filed accounts from the company show that pre-tax profits almost trebled in the last year.
Airlines face shortage of pilots
CTC Aviation, which has placed pilots with the likes of British Airways, easyJet and Qatar Airways, said the airline industry is facing a looming skills shortage – in the cockpit. The company forecasts 235,000 more pilots will be needed worldwide over the next seven years.
THE WALL STREET JOURNAL
Chrysler Presses Ahead on IPO
Chrysler is going full speed to get an IPO done by mid-December, ratcheting up pressure on the company's two owners to strike a deal that would allow Fiat to buy full control before it lists. An IPO pricing could come as early as this week.
Firms push for protection over data
Exxon and Microsoft are part a group pressing the federal judiciary to insulate companies from being sanctioned for inadvertently destroying potential evidence in civil cases. With a new, uniform rule, the companies say they could hang on to less and direct the savings into their businesses.