Big firms open up their books May 13, 2014 BRITAIN’S biggest businesses are publishing increasing amounts of information on their tax statuses, according to a PwC report published today. It found 49 of the FTSE 100 firms disclosed information on their approach to tax payments in 2013, up 50 per cent on the 32 who did so in 2012. The businesses have opened up [...]
What the other papers say this morning – 14 May 2014 May 13, 2014 FINANCIAL TIMES Danone in talks over medical sale Danone is in talks with Nestle and other potential buyers over the disposal of most of its medical nutrition division, as it eyes an expansion of its baby food business. The French group, which is being advised by JP Morgan, stands to raise up to €5bn (£4.07bn) [...]
Compass to reveal major payout May 13, 2014 Catering colossus Compass Group is set to unveil a bumper dividend for shareholders today, with a total payout of £1bn expected. The firm will also announce its performance for the first half of the current financial year. During the previous 12 months, Compass announced that operating profit by 7.8 per cent, with results expected to [...]
Diamond’s firm to raise funds May 13, 2014 Former Barclays chief executive Bob Diamond’s latest venture, Africa-focused investment firm Atlas Mara, is placing 36.5m more shares in a major fundraising effort. Atlas Mara will issue the shares at $11 (£6.54) apiece, hoping to raise around $400m. Late last year, the group raised $325m in their initial public offering, but are quickly returning to [...]
Abramovich ups stake in Velocys May 13, 2014 Chelsea football club owner and Russian billionaire Roman Abramovich has increased his stake in innovative fuel firm Velocys, boosting his voting share to 5.33 per cent of the company. Velocys works on converting gas into liquid fuels, and has also pioneered research into transforming household waste into useable fuel. Abramovich, acting though Ervington Investments, already [...]
US could charge BNP Paribas over $3.5bn May 13, 2014 US OFFICIALS are reportedly pushing for a payment of more than $3.5bn (£1.78bn) from French bank BNP Paribas to put an end to an investigation into whether the group violated American economic sanctions. The country’s Justice Department has been attempting to identify financial institutions that circumvented its economic restrictions on certain countries, which include Iran [...]
EU green lights TSB’s flotation May 13, 2014 THE EUROPEAN Commission has given the final go-ahead to Lloyds Banking Group’s plans to float TSB bank next month. The EU authority confirmed that the bank’s restructuring plan was within the bloc’s rules yesterday, meaning that an initial public offering of shares in the separated TSB bank by the end of next month. The Commission also offered [...]
UK watchdog’s Libor fine to hit RP Martin May 13, 2014 BROKERAGE RP Martin is set for a £1m fine from the UK’s financial watchdog this week over the rigging of Libor. The Financial Conduct Authority (FCA) is reportedly set to charge the firm for its part in the scandal, but the fine will be the smallest yet for alleged tampering with the interbank rate, which [...]
Three-year delay hits Google’s London HQ May 13, 2014 WORK ON Google’s planned £650m headquarters at King’s Cross could be delayed for another three years, the boss of the contractor appointed to build the scheme warned yesterday. In its annual report released yesterday, BAM Construct chief executive Graham Cash said it was “disappointing” that the building has been pushed back to “at least 2017” [...]
Plea for Ukraine talks marred by violence May 13, 2014 GERMAN foreign minister Frank-Walter Steinmeier called for talks between pro-Russian separatists and the Ukrainian government yesterday, despite the deaths of seven Ukrainian soldiers in the country’s eastern region. Arriving in Kiev, Steinmeier said that he hoped to launch “round table” discussions and a “national dialogue” which would help to disarm rebel groups and end the [...]
