Oil prices: Standard Life says it will vote against Royal Dutch Shell’s takeover of BG Group January 11, 2016 Standard Life plans to oppose Royal Dutch Shell's takeover of its smaller rival BG Group, saying that the £47bn mega-deal would not work in the current low oil price environment. Dave Cumming, head of equities at Standard Life, said that the fund manager plans to oppose the deal when it goes to a shareholder vote later this month. [...]
FTSE 100 index opens lower as concerns over the Chinese economy persist January 11, 2016 The FTSE 100 index opened lower today as fears over the state of the Chinese economy lingered on. The UK's blue-chip index fell 0.34 per cent to 5,891 points, led lower by oil companies and miners (again). The news followed another fall in Chinese markets, after weak inflation data was published over the weekend. "It feels as though [...]
Anglo American set to kick off $1bn sale of Brazilian business in bid to prop up balance sheet January 11, 2016 Anglo American is poised to kick off the $1bn (£680m) sale of its Brazilian niobium and phosphate business as the firm attempts to raise cash to prop up its ailing balance sheet. Facing a rapid decline in demand for commodities off the back of an economic slowdown in China, Anglo American said in December that it [...]
Retail bonds: What they offer small cap firms January 11, 2016 Launched in 2010 by the London Stock Exchange as part of its efforts to help firms find new ways to access capital, the UK retail bond market may still be comparatively new. But it has already shown itself to be an attractive way for small to mid cap companies, particularly those with a well recognised [...]
UK Christmas sales 2015: Online shoppers boost consumer spending in December January 11, 2016 More shoppers took to their mobiles and laptops to buy their Christmas presents this year instead of venturing out on the high street, new figures show helping to fuel a rise in consumer spending. Data compiled by Markit on behalf of Visa Europe found that spending growth rose to 2.3 per cent year-on-year in December, from [...]
Deal spree to provide relief to the City with Shire on verge of tie-up with Baxalta January 11, 2016 A string of mega deals is set to provide welcome relief to the City after a rocky start to the year saw £85bn wiped off the value of the UK’s biggest firms in the first trading week of 2016. London-listed pharmaceutical giant Shire is on the verge of inking a £22bn deal with US rival Baxalta, [...]
New Axa Insurance boss Amanda Blanc on the company’s plans for growth January 11, 2016 Amanda Blanc began the new year as chief executive of a reorganised Axa Insurance. Previously the head of Axa Commercial Lines and Personal Intermediary, as of 1 January Blanc has taken on responsibility for the French group’s insurance business in the UK and Ireland, a change that doesn’t seem to have phased her. “I feel like [...]
Co-op Group grows its legal services offering with acquisition of Collective Legal Solutions January 11, 2016 The Co-op Group has today announced that it has purchased Collective Legal Solutions Group, in a bid to grow its legal services business. Collective Legal Solutions, which has over 100 associates and support colleagues and was founded in 2007, has been acquired to strengthen Co-op’s already existing legal services offering. Co-op Legal Services was set [...]
New mobile challenger bank Starling Bank gets $70m investment as Pinsent Masons finds 38 per cent of Londoners would consider using payment apps January 11, 2016 A new British bank focused exclusively on current accounts has secured a $70m (£48m) investment from an American investor. Starling Bank, which applied to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) at the end of last year for a banking license, announced the latest funding round today. Commenting on his $70m [...]
Star Wars: The Force Awakens becomes third biggest film ever after $53m opening weekend in China January 10, 2016 Star Wars: The Force Awakens made $53m (£37m) in ticket sales on its first weekend in China, making it the third highest-grossing film globally in history, according to Walt Disney Studio estimates. The film was also the highest-grossing ever to hit Chinese screens. Globally, it has raked in $1.73bn, overtaking Jurassic World's $1.67bn haul. It [...]