Cairn Energy to pay out special $250m dividend after Senegal sale December 17, 2020 Oil firm Cairn Energy today said it would pay shareholders a special dividend worth a combined $250m (£188m) on completion of the sale of its Senegalese assets. The one-off payment will see the exploratory firm pay out 32p per share to investors, it said in a statement. The payout, which is expected on 25 January, [...]
FTSE 100 slips but global markets hit fresh highs on vaccines and stimulus December 17, 2020 The FTSE 100 slipped, weighed down by a rising pound, as global markets hit a new all-time high amid optimism about vaccines and fiscal and monetary stimulus. Despite the rise in global stocks, the FTSE 100 lagged behind as the pound rose 0.8 per cent to $1.360, a 32-month high. A higher pound weighs on [...]
Industrial services firm Altrad hails ‘robust’ year December 17, 2020 Industrial services giant Altrad said that it was optimistic about its future prospects after a “robust” financial performance in 2020. The Montpellier-based group, which provides services for the oil, gas, and petrochemicals sectors, said that it had managed to maintain profitability despite intense pressure from the pandemic. Over the year revenue dropped a sixth, from [...]
Talktalk to go private after £1.1bn Toscafund deal December 17, 2020 Talktalk has this morning announced that it will be taken private in a £1.1bn deal with shareholder Toscafund and private equity firm Penta. Under the offer, shareholders of the broadband supplier will receive 97p per share, a 16 per cent premium on shares as of 7 October, when the offer was first made. The deal [...]
British Airways to stop flights to Sydney and Abu Dhabi amid Covid downturn December 17, 2020 British Airways is axing its direct flights to more than a dozen destinations, including Sydney and Abu Dhabi, as it trims its schedules due to the coronavirus pandemic. The UK flag carrier will cut non-stop flights to 13 destinations from the summer, with others to be suspended for six months. From the beginning of March, [...]
Serco set for profit bump on back of Covid contracts December 17, 2020 Outsourcing giant Serco today said that it was on course for a 35 per cent jump in profit this year thanks to its role in supplying key government coronavirus programmes. The FTSE 250 group said that profit would come in at £160m-£165m for the year, while revenue is also set to increase 19 per cent [...]
US airlines near new $17bn payroll aid package December 17, 2020 US airlines are nearing a new $17bn (£12.5bn) package to keep workers on the books as part of a $900bn stimulus scheme for the world’s largest economy. A prior programme worth $25bn ran out at the end of September, forcing carriers to put tens of thousands of employees on unpaid leave. The new deal would [...]
Rio Tinto appoints new chief exec after sacred cave destruction scandal December 17, 2020 Rio Tinto has announced that Jakob Stausholm will become the mining giant’s new chief executive after his predecessor stood down following the destruction of a sacred cave system in Australia. Stausholm, the FTSE 100 firm’s finance chief, will take the top job after Jean-Sebastien Jacques fell on his sword amid intense pressure. The destruction of [...]
UK awaits Covid tier changes after Christmas confusion December 17, 2020 Towns and cities around the UK are waiting with bated breath this morning to see if they will be moved into a different tier of coronavirus restrictions. Government officials met to review the three tier system yesterday, with health secretary Matt Hancock due to announce any changes later today. The official update comes with London [...]
Crossrail failed to carry out survey work on historic Soho venue despite ‘high risk’ to punters December 16, 2020 Crossrail failed to carry out survey work on a historic cellar bar in Soho despite receiving warnings from its own contractors that weak vaults posed a “high residual risk” to punters. The report, which was carried out in 2016 by consultants WSP and has been seen by City A.M., says that the vaults in the [...]
