Barclays cuts banker cash bonus cap to £140,000 February 7, 2014 Barclays is slashing cash bonuses for its investment bankers to £140,000, according to Sky News' Mark Kleinman. Sky has revealed that the cash cap for bonuses has been cut to £140,000 from the £185,000 seen last year. Barclays is planning to hand out roughly double as much to its employees as it will through shareholder [...]
National Gallery snaps up American masterpiece for £15m February 7, 2014 In a stark change of collection policy, the 200 year old National Gallery has made its first acquisition of a major American painting. The museum's previous collections had largely been restricted to works by European artists from the renaissance to 1900. Men of the Docks, by American realist painter George Bellows, will now grace the [...]
Teachers unions go head to head with Gove as strike set for 26 March February 7, 2014 Teachers in England and Wales are set to strike on 26 March in a dispute over pay, pensions and conditions. Teachers' unions are indignant at the introduction of performance-related pay and a more restrained pension package. Members of the National Union of Teachers (NUT) have accused the education secretary, Michael Gove, of "persistently refusing" to [...]
ArcelorMittal shares jump on profit boom February 7, 2014 Steelmaker ArcelorMittal has seen its shares rise by over three per cent in early trading after the firm reported a jump in fourth quarter profits. Company profits leapt 23 per cent in the fourth quarter, with earnings in 2014 expected to outstrip the previous year. The world's largest steelmaker, which accounts for between six and [...]
Statoil slashes spending as profits wane February 7, 2014 Norwegian energy company Statoil has announced net income of 14.8bn Norwegian Krone (£1.4bn) for the fourth quarter. The results came in below estimates of a Bloomberg poll of 20.8bn Norwegian Krone but were better than the more bearish forecasts of RBC Capital Markets of 12.3bn Norwegian Krone. The company said the results were "impacted by [...]
Asian shares bounce back in wake of US data February 7, 2014 Asian shares are continuing to stabilise – rebounding from five-month lows – after the US posted better than expected employment numbers, signalling a strengthening recovery in the world's largest economy. The positive US data has helped temper concerns over the recent volatility seen in emerging markets. Japan's Nikkei is up 2.2 per cent, continuing its [...]
Apple sticks the boot into Bitcoin with Blockchain removal February 6, 2014 Apple has removed the last Bitcoin wallet from its iOS app stores. The tech giant offered no explanation for the removal of UK-based Blockchain other than it was due to an "unresolved issue." The application had been available on the iOS app store for over two years and was downloaded over 120,000 times. Blockchain responded [...]
Sony cuts 5,000 jobs as PC business sold off February 6, 2014 Sony has entered a memorandum of understanding with Japan Industrial Partners (JIP) to sell the company's Vaio PC division. The price secured for Vaio has yet to be disclosed but it is hoped the deal will be completed by the end of the year. Sony will cease immediately to design and develop any further PC [...]
EasyJet flying high as passenger numbers grow February 6, 2014 EasyJet continues to show steady growth, as passengers opting to fly with the low-cost airline continued to increase through January. The FTSE-100 company saw passenger numbers rise by 3.7 per cent compared to the same time last year, reaching a total of 4m. This marks further improvement for the company which posted positive numbers for [...]
Weak European markets hit Vodafone revenue February 6, 2014 Telecommunications company Vodafone has seen reported revenue fall by 3.6 per cent to £10.9bn for the quarter ended 31 December. The European market proved to be a tough environment for the the FTSE 100-listed company, with price competition across the region seeing a fall in German revenue of 7.9 per cent and UK revenue of [...]
