Exxon Mobil in talks with Chad following court order for $74bn fine in October November 16, 2016 Exxon Mobil is in negotiations with Chad after a court in the central African nation fined the US firm $74bn (£59bn) over unpaid royalties. The world's largest publicly traded oil and gas company has appealed the court ruling, which was released on 5 October, but the appeals hearing has been delayed because of the talks, Bloomberg [...]
Here’s what Richard Branson’s new supersonic passenger aircraft will look like November 16, 2016 Sir Richard Branson has unveiled the prototype of his supersonic passenger aircraft, and it's pretty snazzy. The Virgin Group founder has teamed up with US startup Boom to build a new generation of supersonic jets which will deliver 3.5 hour flights from London to New York for an "affordable" $5,000 return. It will bring in [...]
Barratt has taken “pricing action” on high-end homes in London as weak demand begins to bite November 16, 2016 Not long ago, housebuilders were all clamouring to get a slice of London's high-end property market. Not any more: today Barratt said although sales have been strong, demand in the capital has weakened. The figures First, the good news: in a trading update ahead of its shareholder meeting today, the housebuilder said total forward sales [...]
Transport for London offers to pay for the funerals of Croydon tram crash victims November 16, 2016 Transport for London (TfL) has offered to pay for the funerals of the seven victims of the Croydon tram crash on 9 November. Six men and one woman died, while 51 others were injured, after a tram derailed. TfL pledged to do "everything we can to support the families and all those affected". Read more: Watch: [...]
Brexit and Donald Trump prompt Oxford Dictionaries to crown “post-truth” the international word of the year November 16, 2016 If you thought you could escape Brexit and the shock rise of Donald Trump when it came to the 2016 word of the year, we have some bad news for you. After a "highly charged" 12 months, Oxford Dictionaries has named "post-truth" as its 2016 international word of the year (though maybe it should be [...]
Oversubscribed investment trust and Scottish tech firm announce flotations November 16, 2016 A Scottish technology company floated on the London Stock Exchange this morning and is set to be joined by an oversubscribed new investment trust on Friday. City A.M. first reported that the investment trust, Civitas, which focuses on social housing, was planning to raise £250m through a float on 18 November. The IPO was oversubscribed [...]
Prudential aiming to grow dividend by five per cent as insurer sees no surprises in third quarter trading November 16, 2016 Prudential is aiming to grow its dividend by five per cent per annum, the insurer said today, as it prepared to host its capital markets day in central London. The company said it would "maintain its focus on delivering a growing ordinary dividend", and added that: "The potential for additional distributions will continue to be [...]
Icap reports Trump trading boost as it prepares for the Nex step after its Tullett Prebon sale November 16, 2016 Icap has reported growing revenues and profits as it prepares for life under a new name, Nex Group. The figures Group revenue from continuing operations for the six months to 30 September came in at £254m, up 11 per cent year-on-year from £229m. Pre-tax profit, meanwhile, was £66m, up from £37m last year. Trading pre-tax [...]
ABN Amro is cutting 1,500 jobs in new cost-saving plans – despite reporting a rise in profits November 16, 2016 Dutch lender ABN Amro has announced plans to cut 1,500 jobs as part of new cost-saving plans, despite reporting a hike in profit during the third quarter of 2016. The bank, which has offices in London, Birmingham, Cardiff, Haywards Heath, Leeds and Manchester, posted a 19 per cent year-on-year increase in underlying net profit for [...]
We’re all Scrooge-ing it: Why you shouldn’t expect generous Christmas presents from your London-based friends this year November 16, 2016 If you were looking forward to receiving a bountiful array of presents from your London-based friends this Christmas, it may be time to start tempering your expectations. Britain is a nation of generous gift givers, according to research from Very.co.uk, with 74 per cent of adults preferring to give a gift rather than receive one. [...]