UK Oil and Gas receives consent to flow test at a well in Horse Hill January 4, 2016 "Gatwick Gusher" UK Oil and Gas (Ukog) today announced that the UK's Oil and Gas Authority has granted consent for an extended flow test over three separate zones at a well in the Horse Hill site. The Horse Hill 1 discovery well, drilled at the end of last year, is located on the northern side of the Weald Basin [...]
New report: Low oil prices, China slowdown to blame for “notable downswing” in London Stock Exchange AIM market January 4, 2016 A new report out today reveals that more than 50 companies de-listed from AIM last year, the largest net decrease for the London Stock Exchange’s growth market since 2012. Researchers from UHY Hacker Young, the accountancy group, said that the number of companies listed on AIM fell by 52 during 2015, a “notable downswing” compared [...]
Warm weather to cool Christmas sales at Marks & Spencer January 4, 2016 The mildest December on record combined with intense competition on the high street is expected to spell a gloomy end of the year for retailers, with Next and Marks & Spencer the first to unveil this week how they fared over the crucial Christmas period. The wet and mild weather, security fears in the aftermath of the [...]
Carlyle insists it’s not hungry for Holland & Barrett sale January 3, 2016 Private equity firm Carlyle, owner of high street health food chain Holland & Barrett, has insisted that it is in no hurry to part ways with the retailer in 2016. A spokesperson told City A.M. that there is no intention of a sale in 2016, though there will be an exit at some point. In [...]
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, [...]