Danish Council of Ethics votes in favour of a climate change-focused meat tax April 28, 2016 Most of us by now have adjusted to news that a sugar tax is coming, but how would we react to a tax on meat? Denmark may have to consider just that question, after members of the Danish Council of Ethics voted in favour of a proposal that recommends placing a "climate tax" on beef initially, [...]
Virgin America reports better than expected results as lower fuel costs offset fall in revenue per available seat mile April 28, 2016 Virgin America, currently awaiting a green light on the merger with Alaska Air Group, has posted better than expected first quarter results, helped by low fuel costs. The airline posted first quarter net income, excluding special items, of $18.4m (£12.6m), an increase of 74.5 per cent from the first quarter of 2015. Earnings per share, excluding special items, [...]
It’s been a good year for PwC’s soon-to-be chairman Kevin Ellis April 28, 2016 Congratulations to bean-counting boss Kevin Ellis. The managing partner at PwC has just been elected as the audit firm's new chairman, and his bosses aren't the only ones who are impressed with his work. He will succeed Ian Powell, who retires from PwC on 30 June after 39 years of service with the firm. Read [...]
Live: The spring of shareholder discontent – Weir Group sees renumeration policy struck out, with only 27.6 voting in favour April 28, 2016 It's springtime, but executives may have felt a chill in the air as they headed off to their companies' AGMs this morning. Hermes Investment Management has said that it opposes the appointment of former chief executive Michael Dobson to the role of chairman at Schroders, remarking that such a move would undermine corporate governance. Although the measure [...]
Mark Zuckerberg added $4bn to his fortune thanks to Facebook earnings sending stock soaring April 28, 2016 Facebook founder and chief executive Mark Zuckerberg has increased his wealth by a healthy $4.7bn (£3.2bn), despite taking home just a $1 salary. The social network's latest earnings pleased investors, sending stock soaring nearly 10 per cent and helping Zuckerberg add billions to his wealth. The additional cash in the bank (well, shares) helped the [...]
Barclays thanks its shareholders for their patience and apologises for any inconvenience this turnaround period may have caused April 28, 2016 Barclays has today thanked its shareholders for being patient as the bank undergoes a turnaround period. In a statement ahead of the bank's AGM, chairman John McFarlane acknowledged that the last few years had been an "extremely difficult time for shareholders", and accepted that decision to slash the dividends for 2016 and 2017 last month would have hardly [...]
Scottish parliamentary election: Scottish National Party’s support falls but it still remains dominant ahead of Holyrood election April 28, 2016 The Scottish National Party has (quite surprisingly) witnessed a fall in support, one week before the Scottish parliamentary election. But First Minister Nicola Sturgeon, nor the rest of her party, will be worrying too much, as the SNP still has a commanding lead ahead of the vote, according to the latest poll from TNS. The [...]
Discgraced former banker Elena Kotova has been ordered to hand over her Mayfair flat April 28, 2016 A former high profile Russian banker has been ordered by the court to hand over her swish flat in Mayfair to the National Crime Agency (NCA). Elena Kotova, who was an executive director of the European Bank of Reconstruction and development (EBRD), was charged with bribery by Russian authorities in 2013, alleging that she solicited more than [...]
Pour us another one: Britain’s cocktail sector continues to surge as more than three quarters of bars now offer mixed drinks April 28, 2016 If you thought you'd seen way more cocktails being ordered in the City lately, new research shows you were probably right. More than three quarters of British bars, 78 per cent, now sell the mixed drinks, with healthier and premium choices driving the flourishing cocktail market, according to the latest Mixed Drinks Report from CGA Strategy. Cocktails [...]