Melrose executives set to reap the rewards of increasing shareholder value March 19, 2017 The top brass at engineering turnaround specialist Melrose Industries are in line for one of largest paydays of any FTSE 100 company, according to reports. Executives are to receive around £206m according to information obtained by Sky News. A five-year bonus scheme was approved by shareholders in 2012 and details of the payouts will be laid out in [...]
Uber president Jeff Jones quits after six months in role March 19, 2017 Uber president Jeff Jones has quit his role after little more than six months in the job, the car hailing giant has confirmed. A spokesperson for the firm said: “We want to thank Jeff for his six months at the company and wish him all the best.” Second in command at the car hailing firm to Travis Kalanick, Jones [...]
Astrazeneca global study reveals diabetes medication significantly cuts death rates March 19, 2017 Astrazeneca has hailed the success of its new Type 2 diabetes drugs, after a study of more than 300,000 people revealed it significantly cut the risk of death or heart failure. The FTSE 100 firm today announced the results of the first large real-world evidence study of its kind. The focus was whether the medication, [...]
GKN considers debt raise in order to manage £2bn pension shortfall March 19, 2017 Engineering group GKN is preparing to go to debt markets to raise £200m in an attempt to placate the trustees of its pension scheme, according to reports. The FTSE 100 group is in the middle of a three-yearly review of its pension scheme with 2016 accounting valuations revealing its deficit had swelled by £475m over the last 12 months to [...]
Twitter’s Jack Dorsey under pressure to entice advertisers after robot revelation March 19, 2017 Pressure is mounting on the boss of Twitter after research indicated the number of automated accounts on the platform was nearly double company estimates, according to reports. Analysis released this week by the University of Southern California estimated 15 per cent the entire population of Twitter accounts were managed by robots, much higher than the 8.5 [...]
Wood Group’s chief exec says regulators must consider the fact North Sea oil has moved on March 19, 2017 The chief executive of Wood Group said its £5bn merger with Amec Foster Wheeler will not be bad for the North Sea oil sector. Last Monday Wood Group announced it had agreed a deal with Amec in the hope of generating cost savings of more than £100m. Read more: UK oil services companies in £5bn merger deal The [...]
Cheltenham Gold Cup: Sizing John capitalises on frontrunner mistakes to take the title March 17, 2017 Sizing John has taken the Cheltenham Gold Cup, coming through the field to take one of jump racing's most prestigious events. The 7-1 shot, who was tipped by CityAM to prevail, capitalised on errors by the frontrunners on the second to last fence. Fast finishing Minella Rocco won a photo for second, beating Native River third and outpacing pre-race [...]
Slew of insurance deals are on the cards for 2017 as Solvency II bites March 17, 2017 Dealmaking in the insurance sector will shift into top gear in 2017 as the need to set aside regulatory capital "forces companies to grow or go", according to a report by experts. Nearly all firms (94 per cent) surveyed by accountancy firm KPMG expect to make at least one divestiture during 2017, with the lion's share (84 [...]
The Queen and Oliver Twist movie backers forced to pay back £26m to the taxman in landmark ruling March 17, 2017 The taxman today hailed its victory in a tax avoidance case against partnerships that backed a number of high profile films including The Queen and Oliver Twist. The £26m ruling paves the way for HM Revenue & Customs (HMRC) to go after similar schemes, a decision it estimates could swell its coffers by £286m. British movie makers have [...]
SNP rejects PM’s rejection: Tories wouldn’t “dare” stand in the way of vote March 17, 2017 The SNP said today there will be a second Scottish referendum and accused the Conservative party of being scared to give the Scottish people the chance to vote on the future of the union. After earlier this week calling for Scotland to be given another chance to vote on its future in the UK, the SNP kicks [...]
