Miner BHP Billiton considering dividend cut in face of continuing commodities rout December 20, 2015 Mining giant BHP Billiton is considering slashing its dividend in the new year, as the commodities rout shows no sign of abating. The Anglo-Australian group was placed on review facing a possible downgrade by ratings agency Moody’s, prompted by “the precipitous decline and persistent weakness in commodity prices”. Moody’s said it will specifically review BHP’s [...]
Shareholder dissatisfaction with bosses at Imagination Technologies December 20, 2015 Troubled mobile chip maker Imagination Technologies, which counts Apple among its top shareholders, is facing mounting criticism from investors following the firm's share price tumbling 50 per cent in two months. At the close on Friday the share price was trading around 135p, down from 247p in October. The share price hit highs of 712p [...]
Netflix corporation tax bill was zero last year despite millons of customers, report claims December 20, 2015 Netflix is the latest company to face scrutiny over its tax arrangements as it was revealed that it paid no corporation tax in the UK last year, reports claim. It's estimated the TV and film subscription service known for Emmy award winning shows House of Cards and Orange is the New Black, made £200m in revenues from its [...]
Shire Pharmaceuticals offers more cash in a bid to woo rival Baxalta December 20, 2015 Pharmaceutical giant Shire has not given up hope in its proposed takeover of US drug firm Baxalta. The Irish company could increase the cash element of its bid in order to move things along with its rival, which has resisted Shire’s overtures since the summer. The £8bn cash booster, which was first reported in the Sunday [...]
Report: Post Office getting close to a deal with British lender to offer small business banking services at 11,500 branches December 20, 2015 British banks are reportedly nearing a deal with the Post Office that could lead to the closure of thousands of local bank branches. Under the agreement, the Post Office will be able to serve small business customers from leading UK banks. The Post Office, which operates over 11,500 branches across the country, currently provides deposit [...]
Morrisons prepares for first day of trading on FTSE 250 along with G4S, while Worldpay gets ready for the blue chip index December 20, 2015 Tomorrow will be Morrisons’ first day trading on the FTSE 250, after being demoted from the blue-chip index in the last quarterly review. Security firm G4S and engineering firm Meggitt, will also have their first day of trading on the FTSE 250. It will be a happier day for Worldpay, which will join the FTSE [...]
EU referendum: Challenger bank boss says smaller UK lenders would be better off outside of the EU December 20, 2015 The boss of a leading challenger bank has said that Britain's smaller lenders may be better off if British voters back leaving the European Union. Paul Lynam, chief executive of Secure Trust and head of the British Bankers' Association (BBA) challenger bank panel, told City A.M. over the weekend: "Arguably a Brexit would put the UK in more control [...]
Another one bites the dust: Rolls-Royce loses another high-profile investor as Old Mutual Global Investors’ Richard Buxton confirms he has sold his shares December 20, 2015 Rolls-Royce has lost yet another high-profile investor, as one leading City figure confirmed over the weekend that he has offloaded his shares in the struggling aircraft engine maker. Old Mutual Global Investors chief executive Richard Buxton told The Sunday Telegraph that he sold his stake in Rolls-Royce less month, after the company issued its fifth [...]
Dutch court says Nigerian farmers can sue Royal Dutch Shell over oil spills in Niger Delta December 18, 2015 Royal Dutch Shell could have to pay compensation for oil spills in Nigeria, following a landmark ruling by the Dutch appeals court. During a five minute verdict given this morning, judges at the Hague ordered the oil giant to hand over documents relating to oil spills in the Niger Delta, where the company's subsidiary Shell [...]
Two carriages of Alton Towers rollercoaster Smiler collide December 18, 2015 Update: Four people have been seriously injured after two carriages of a roller-coaster at theme park Alton Towers collided this afternoon. There were 16 people in one carriage of the Smiler ride, and the other carriage was empty and stationary. A 999 call was made just after 2pm today, and four ambulances arrived on [...]