RBS scraps Amsterdam listing in latest sign of global withdrawal March 18, 2015 RBS abandoned its listing on Euronext Amsterdam yesterday, as so few traders buy and sell stocks on the exchange. The Dutch listing is a legacy of RBS’ ill-fated acquisition of ABN Amro in 2007, which contributed to the bank’s collapse and subsequent bailout the following year. But since then RBS has slashed its overseas and [...]
Henderson Group fund managers get bumper bonus March 18, 2015 Staff at investment firm Henderson Group saw their bonus pool increase to £144m after seeing a 22 per cent rise in management fees during 2014. Henderson said the increase in the bonus pool was a reward for strong net flows, investment performance and business performance and marks an 11 per cent rise on last year. [...]
Imagination Technologies share price slumps on 2015 forecast March 18, 2015 Shares in multimedia tech firm Imagination Technologies tumbled yesterday after it lowered expectations for revenue growth for 2015, it emerged yesterday. Imagination technologies, founded in 1985, listed on the London Stock Exchange in 1994 and is a key provider of graphics technology to Apple. The company said it expected revenue to be broadly flat [...]
Uber banned for the second time in Germany March 18, 2015 In what seems to be a never-ending back and forth Uber has officially been banned in Germany – again. A regional court in Frankfurt ruled that Uber's low-cost ride-sharing service UberPop is now banned throughout the country. The case was brought by taxi union Taxi Deutschland that been battling Uber for over a year. Dieter [...]
BAE Systems chief Ian King receives 41 per cent pay rise despite fall in earnings March 18, 2015 UK defence giant BAE Systems awarded chief executive Ian King a 40.8 per cent pay rise in 2014, bolstering his total take home to £3.5m for 2014. BAE Systems, the world’s third largest defence group, posted an 8.8 per cent drop in full-year sales from £18.2bn to £16.6bn for year while underlying earnings [...]
FTSE 100 market report: Budget goodies lift oil majors March 18, 2015 Britain's blue-chip index was 0.1 per cent higher this lunchtime as investors digested the chancellor's budget. Chancellor George Osborne unveiled £1.3bn additional support for the struggling north sea oil and gas industry. He said the Office for Budget Responsibility predicts this will boost production by around 15 per cent. Crumbling oil prices have made a [...]
Uber’s chief executive is among 30 charged with operating illegal taxi ring in South Korea March 18, 2015 Uber has come under fire for operating an “illegal taxi ring” in South Korea. According to Yonhap News Agency, Seoul District Police have charged 30 people associated with the company, including chief executive Travis Kalanick. Others range from Uber Korea's brand manager to the heads of car rental companies and a number of drivers. [...]
Barclays halves bonus payouts for top executives March 17, 2015 Barclays has slashed the payouts to its top bosses by half, yesterday revealing that the group of executives at the head of the bank received £16.5m in shares for deferred bonuses and new awards. That is a dramatic fall from £31.8m a year earlier, reflecting both the increased crackdown on payouts, and a shift away [...]
HSBC to close Jersey accounts in crackdown on tax avoidance March 17, 2015 HSBC has begun contacting thousands of holders of Jersey accounts who live in the UK in a bid to avoid accusations that it is helping to shelter money from tax authorities. Britain’s biggest bank has written to customers with such accounts to ask them to take proof of identity to a branch on the island, [...]
Jefferies results spell bad news for Wall Street March 17, 2015 US investment bank Jefferies saw its first-quarter earnings slashed on the back of weak trading in fixed income bonds and a slowdown in capital markets, results revealed yesterday. Blaming a “tepid” bond market for a 56 per cent decline in fixed-income revenue to $126m (£85m) in the first quarter, the results will alarm Wall Street [...]