Barclays just handed its exec team £13.6m worth of shares in the bank, and there’s the chance they could snap up £9.2m more March 9, 2017 Barclays handed 10 of its most senior staff members shares worth £13.6m in the bank today, while also giving them the chance to snap up several million pounds more in years to come. By comparison, the bank awarded nine people shares worth £8.7m last year. The lender said the boost in this year's award was thanks [...]
Shares in recently-listed tech star Snap finally stop slipping to close up for the day March 8, 2017 Shares in Snap finally snapped out of their losing streak today. The Snapchat owner's shares, which floated last week, closed up 6.4 percent at $22.81, having fallen sharply during trading on Monday and Tuesday. Part of the sudden drop was pinned on a group representing large institutional investors approaching index providers S&P Dow Jones Indices and MSCI late [...]
Industrial titans, BAE, Babcock and Rolls-Royce, come to aid of Sheffield Forgemasters, Britain’s oldest steel-maker March 8, 2017 Industrials heavyweights, BAE Systems, Babcock International and Rolls-Royce Holdings, have helped Britain's oldest steel-maker secure a multimillion pound funding package. Sky News reported the trio have agreed to continue to underwrite loans for the Sheffield Forgemasters, which plays a role in the supply chain for the Trident programme, for at least another year. The original guarantee for [...]
US cereal maker Post Holdings wants to have its Weetabix and readies £1.5bn bid, as the race to buy the breakfast brand narrows to just two bidders March 8, 2017 An American firm is lining up a £1.5bn bid for Weetabix, as it prepares to go head-to-head with another company interested in snapping up the breakfast cereal brand. According to Sky News, which first reported the story, Post Holdings, which makes Golden Crisp and Cocoa Pebbles, is one of just two bidders left competing to [...]
RBS’ chief exec Ross McEwan just got awarded shares worth £1.2m in the loss-making bank March 8, 2017 Royal Bank of Scotland's chief executive was awarded £1.2m worth of shares this afternoon, as benefits from the loss-making lender's long-term incentive plans (LTIPs) were paid out. Ross McEwan, who took over at the helm of the taxpayer-backed bank in October 2013, was vested a total of 512,509 shares under the incentive scheme at £2.389 a pop, [...]
Spring Budget 2017 figures predict banks will cough up an extra £2.1bn in bank levy and surcharge payments compared with Autumn Statement 2016 forecasts March 8, 2017 The government expects to pocket an extra £2.1bn from banks' coffers compared with what it forecast four months ago. Figures tucked away at the back of the spring Budget statement reveal the Treasury now expects to bring in £27bn from the bank levy and surcharge combined between financial years 2015-16 and 2021-22. The same analysis in last [...]
Spring Budget 2017 at-a-glance guide: All of chancellor Philip Hammond’s big announcements you need to know March 8, 2017 Chancellor Philip Hammond has delivered his first (and last, thanks to a shift around in dates) spring Budget speech. But, as not everybody has the time to go back and listen to his words of wisdom in full, here's an at-a-glance breakdown of the biggest announcements you need to know: Economics, public spending and politics [...]
Barclays is cutting more than 180 jobs as it shuts the doors on its mortgage unit in Wales March 8, 2017 Barclays is cutting more than 180 jobs, as it shuts down its mortgage centre in Wales. "Barclays is working hard to meet customer needs and keep the customer at the heart of what we do," a spokesperson for the bank said. "Part of this work is ensuring that our contact centre site processes are working [...]
Ford’s Essex-based financing unit gears up for possible shift to Germany to swerve Brexit fallout March 7, 2017 Ford is mapping a possible move to Germany for part of its sizeable financing division, as the car manufacturer plots a route to avoid Brexit fallout. According to Sky News, which first reported the story, staff at Essex-based Ford Credit Europe (FCE) have been told the company has commissioned a study into whether it would be [...]
Chinese phone maker ZTE fined $1.2bn for breaching sanctions for shipping US-built equipment to Iran March 7, 2017 ZTE has been slapped with penalties totalling $1.2bn (£1bn) by the US authorities for sanctions breaches. The Chinese phone maker pleaded guilty to shipping products containing US-produced equipment to Iran, which is a violation of US export rules, for almost six years. The US authorities had been probing export practices at the company for five years. [...]
