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Socially Most Trending News

....The issue is not just a concern for the power sector, but for oil and gas producers too. BP said recently that “we are a target for this activity” when asked by shareholders about how seriously it was taking cybersecurity. ... [Read full article on Guardian ]
Sunday 25th of June 2017 04:20:06 PM
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....RBS has also racked up a £1bn bill to end a legal battle sparked by the government bailout. The battle, involving 9,000 investors, has cost the bank an estimated £900m in settlements to shareholders and £100m in legal fees. ... [Read full article on Guardian ]
Sunday 25th of June 2017 03:48:43 PM
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....So Travis Kalanick finally took a one-way cab. The ejection of the founder of Uber as its chief executive last week was that rarest of Silicon Valley events: shareholders taking action to repair a tech company’s culture by removing an executive. ... [Read full article on Guardian ]
Sunday 25th of June 2017 06:00:22 AM
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.... As well as bad loans, they have also been dragged down by a mis-selling scandal. Shares in the two companies have slumped in value, hurting small shareholders across the region. ... [Read full article on Guardian ]
Sunday 25th of June 2017 05:14:25 PM
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....So what happened to the rule that all bondholders must be obliterated before taxpayers contribute? That principle was introduced in the EU after the 2008 global financial crisis to quell the justified outrage that taxpayers, in effect, had been underwriting private sector banks’ bad bets. On this occasion, however, only shareholders and junior bondholders are being cleaned out. ... [Read full article on Guardian ]
Monday 26th of June 2017 03:18:46 PM
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....In recent years the only business to have its licence revoked by Ofcom was adult TV company Bang Media, which runs channels including Tease Me, in 2010. Ofcom has also had a chance to air any “fit and proper” concerns about James Murdoch and investigate his role since January, when news broke that he would be returning as Sky chairman and, significantly, following the highly publicised revolt at Sky’s annual meeting when more than 50% of independent shareholders voted against his reappointment. ... [Read full article on Guardian ]
Sunday 25th of June 2017 02:57:59 PM
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.... Retail investors who own bonds will take losses of at least 55% and be offered cash rather than shares. The current shareholders in the bank will be reduced to holding 5% of the recapitalised organisation, which will have a complex two-tier structure of A and B shares. ... [Read full article on Guardian ]
Wednesday 28th of June 2017 11:18:25 AM
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.... Its name can be reviewed by the business secretary if its use could “cause harm to the public” while the City regulator, the Financial Conduct Authority, has the power to prevent the use of the “co-operative” name to to protect consumers. The bank – which has reported five consecutive years of losses – provided a short-update on its strategic plan, showing it might be able to pay dividends to shareholders in 2021. ... [Read full article on Guardian ]
Monday 26th of June 2017 05:25:23 PM
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....Only Nisa remains owned by its shopkeeper members, who have a say over its running, including executive pay, rules governing the proportion of stock that members must buy centrally, and the price of goods. Its 1,400 member shareholders own between one and 250 shares out of almost 60,000 in total. ... [Read full article on Guardian ]
Friday 23rd of June 2017 06:07:36 PM
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.... While James Murdoch perhaps cannot be on top of everything, it is odd to propose him as able to run Sky – which has been free of such scandal – given the disreputable records of corporate entities he has run. None of this appeared to bother the Murdochs, who rather hubristically promised shareholders £170m if the takeover did not go through by the end of this year and another £200m if it is halted altogether. ... [Read full article on Guardian ]
Monday 26th of June 2017 06:59:25 PM
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Latest Finance News related to Shareholder

Co-op Bank secures £700m rescue deal from hedge funds image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:18:25 AM
.... Retail investors who own bonds will take losses of at least 55% and be offered cash rather than shares. The current shareholders in the bank will be reduced to holding 5% of the recapitalised organisation, which will have a complex two-tier structure of A and B shares. ...
The Guardian view on Murdoch’s Sky plan: a blow to media plurality | Editorial image
.... While James Murdoch perhaps cannot be on top of everything, it is odd to propose him as able to run Sky – which has been free of such scandal – given the disreputable records of corporate entities he has run. None of this appeared to bother the Murdochs, who rather hubristically promised shareholders £170m if the takeover did not go through by the end of this year and another £200m if it is halted altogether. ...
Co-op Bank abandons sale talks as it edges towards rescue deal image
Source : Guardian [Read Article] Monday 26th of June 2017 05:25:23 PM
.... Its name can be reviewed by the business secretary if its use could “cause harm to the public” while the City regulator, the Financial Conduct Authority, has the power to prevent the use of the “co-operative” name to to protect consumers. The bank – which has reported five consecutive years of losses – provided a short-update on its strategic plan, showing it might be able to pay dividends to shareholders in 2021. ...
Italy's €17bn bank job: self-preservation at a long-term EU price? | Nils Pratley image
....So what happened to the rule that all bondholders must be obliterated before taxpayers contribute? That principle was introduced in the EU after the 2008 global financial crisis to quell the justified outrage that taxpayers, in effect, had been underwriting private sector banks’ bad bets. On this occasion, however, only shareholders and junior bondholders are being cleaned out. ...
Italy to wind up two failing banks at potential cost of €17bn image
Source : Guardian [Read Article] Sunday 25th of June 2017 05:14:25 PM
.... As well as bad loans, they have also been dragged down by a mis-selling scandal. Shares in the two companies have slumped in value, hurting small shareholders across the region. ...
UK energy industry cyber-attack fears are 'off the scale' image
Source : Guardian [Read Article] Sunday 25th of June 2017 04:20:06 PM
....The issue is not just a concern for the power sector, but for oil and gas producers too. BP said recently that “we are a target for this activity” when asked by shareholders about how seriously it was taking cybersecurity. ...
RBS to cut hundreds of UK jobs in move to India image
Source : Guardian [Read Article] Sunday 25th of June 2017 03:48:43 PM
....RBS has also racked up a £1bn bill to end a legal battle sparked by the government bailout. The battle, involving 9,000 investors, has cost the bank an estimated £900m in settlements to shareholders and £100m in legal fees. ...
Murdoch's Sky takeover bid: culture secretary's verdict due this week image
....In recent years the only business to have its licence revoked by Ofcom was adult TV company Bang Media, which runs channels including Tease Me, in 2010. Ofcom has also had a chance to air any “fit and proper” concerns about James Murdoch and investigate his role since January, when news broke that he would be returning as Sky chairman and, significantly, following the highly publicised revolt at Sky’s annual meeting when more than 50% of independent shareholders voted against his reappointment. ...
Uber and the ‘brogrammers’ feel the consequences of changing the world image
....So Travis Kalanick finally took a one-way cab. The ejection of the founder of Uber as its chief executive last week was that rarest of Silicon Valley events: shareholders taking action to repair a tech company’s culture by removing an executive. ...
Nisa members air discontent at prospect of Sainsbury's takeover image
Source : Guardian [Read Article] Friday 23rd of June 2017 06:07:36 PM
....Only Nisa remains owned by its shopkeeper members, who have a say over its running, including executive pay, rules governing the proportion of stock that members must buy centrally, and the price of goods. Its 1,400 member shareholders own between one and 250 shares out of almost 60,000 in total. ...
Paul Myners: Barclays realised taxpayer bailout would hit bonuses image
Source : Guardian [Read Article] Tuesday 20th of June 2017 06:01:43 PM
....RBS was limited to paying cash bonuses of no more than £2,000, with any additional payouts made in shares that had to held for several years. When a bonus cap was introduced by the European Union in 2013, limiting bonuses to one times salary or double if shareholders approved, the government refused to give the approval that would have allowed RBS to pay out more. ...
Co-op Bank in advanced talks to secure hundreds of millions for rescue image
....The UK’s largest mutual, which owns supermarkets and funeral homes, has a 20% stake in the bank, which put itself up for sale in February in a search for £750m of extra funding. But under a proposal being discussed by the bank’s controlling hedge fund shareholders, this stake could drop towards zero unless the group decides to pump millions of pounds into the loss-making bank. ...
Did you hear the one about the inequality and the thinktank? image
Source : Guardian [Read Article] Monday 19th of June 2017 11:28:57 AM
....That really takes the biscuit. In April, a plan by the second-largest shareholder in Hornby to oust the toymaker’s chairman hit the buffers. ...
ITV narrows search for successor to chief executive Adam Crozier image
Source : Guardian [Read Article] Sunday 18th of June 2017 01:45:50 PM
....”. One top 10 ITV shareholder said that the despite outward appearances the broadcaster had been preparing for Crozier’s departure for a considerable time. ...
Whole Foods, then a whole industry? Amazon sinks teeth into supermarkets image
....Yet a semi-endorsement of a business model is no comfort if Amazon gets properly serious about food in the UK. The US giant has two advantages: it understands logistics, and its shareholders don’t expect it to make hard profits to be paid as dividends. ...
Amazon to buy Whole Foods Market in $13.7bn deal image
Source : Guardian [Read Article] Friday 16th of June 2017 01:26:19 PM
....”. John Mackey, the Whole Foods co-founder and chief executive, said: “This partnership presents an opportunity to maximise value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers. ...
Cladding for Grenfell Tower was cheaper, more flammable option image
Source : Guardian [Read Article] Friday 16th of June 2017 12:15:05 PM
....2m last year, the same year in which the ACM it supplied was installed on Grenfell Tower. The company also paid a dividend of £950,000 to its sole shareholder, an investment group specialising in construction companies called Xerxes Equity. ...
More than half of Morrisons investors rebel over executive pay image
Source : Guardian [Read Article] Thursday 15th of June 2017 06:21:25 PM
. More than half of Morrisons shareholders have failed to back the supermarket’s bosses’ pay package in a massive protest vote. ...
Morrisons' indignation over shareholder rebellion is misplaced | Nils Pratley image
. When 48% of shareholders rebel against a company’s remuneration report, most chairmen scuttle into the shadows muttering empty words about seeking further engagement with investors. ...
IT meltdown has cost British Airways £80m so far, says Willie Walsh image
Source : Guardian [Read Article] Thursday 15th of June 2017 12:32:01 PM
. The system meltdown that left 75,000 British Airways passengers stranded at the start of the May half-term holiday cost the airline £80m, shareholders have been told. ...
Grenfell Tower's managers were reviewing safety after fire at another block image
....The company made a pre-tax profit of £14. 3m last year on revenues of £271m and paid investors a dividend of £2m, the largest slice of which went to Rydon’s chief executive and largest shareholder, Robert Bond, 61. ...
Thames Water needs to clean up its act after yet more fines | Nils Pratley image
....Yet you do wonder why it has taken a semi-crisis at Thames to force the first sign of cultural change and new thinking. Was an overhaul impossible while Macquarie was the dominant shareholder? Is that why chairman Sir Peter Mason is keen to point out in the annual report that “more than two-thirds of our shareholders now represent pension funds”?. ...
Oil giants need to invest heavily in renewables by 2035, says analysis image
....Wood Mackenzie said most oil and gas companies realised renewables posed an existential risk to them and needed to hedge against the threat by diversifying. “Capturing the growth opportunity in this growing market is a driver, but let’s not also forget there is investor pressure,” said Kretzschmar, citing the 62% of shareholders who voted at Exxon’s AGM to force the company to be more transparent on climate change. ...
Democrats say Dodd-Frank repeal is 'wrong choice' image
Source : BBC [Read Article] Friday 9th of June 2017 08:42:41 PM
....Among the major changes, the bill allows banks that maintain a certain level of financial surplus to opt-out of those rules and abolishes the bailout process established for major financial institutions. It also rolls back a wide range of other rules, touching on issues from payday lending to shareholder proposals. ...
L’Oréal to sell Body Shop to Brazil's Natura in €1bn deal image
Source : Guardian [Read Article] Friday 9th of June 2017 10:45:16 AM
....15bn with 3,200 stores worldwide. Founded in 1969 in São Paulo by Antônio Luiz Seabra, who remains the company’s biggest shareholder, Natura is the largest Brazilian cosmetics company. ...
Republicans take aim at Dodd-Frank financial rules image
Source : BBC [Read Article] Thursday 8th of June 2017 02:18:10 PM
....But the proposal goes farther than just repealing Dodd-Frank. For example, it would require shareholders to have a bigger stake in a company to propose changes, and abolish a new rule that requires financial advisers to act in the best interests of their clients. ...
Santander and RBS haunted by ghost of financial crisis image
Source : Guardian [Read Article] Wednesday 7th of June 2017 06:00:26 PM
.... Popular is the sixth biggest bank in Spain and has been weighed down by the legacy of bad lending decisions made in the run-up to the financial crisis. Santander – a household name in the UK after its takeover of Abbey National, Alliance & Leicester and Bradford & Bingley – paid just €1 to take over Popular but tapped its shareholders for €7bn (£6bn) to cover the bad debts facing the lender. ...
WPP boss £48m pay voted against by a fifth of investors image
Source : BBC [Read Article] Wednesday 7th of June 2017 02:46:21 PM
. More than one in five shareholders at advertising giant WPP have voted against chief executive Sir Martin Sorrell's £48m pay package. ...
Relieved RBS bosses should spare a thought for the claimaints image
Source : Guardian [Read Article] Wednesday 7th of June 2017 02:27:31 PM
.... Fine, but he should try putting himself in the claimants’ shoes. Most are small shareholders, and some are employees of RBS who were encouraged by former management to invest. ...
Electric cars accelerate past 2m mark globally image
Source : Guardian [Read Article] Wednesday 7th of June 2017 01:06:40 PM
....However, the company’s chief executive, Bob Dudley, said recently that in the 20 years “obviously sales of electric vehicles will accelerate”. Carl-Henric Svanberg, BP’s chairman, told shareholders at the group’s AGM in May that the company would benefit from producing the gas to generate electricity for the increasing number of battery-powered cars. ...
RBS court case called off but some investors still refuse settlement image
Source : Guardian [Read Article] Wednesday 7th of June 2017 11:58:42 AM
....During a complex hearing on Wednesday, a high court judge, Mr Justice Hildyard, called for a review of the way such complex lawsuits are brought in the future. He had been told by Jonathan Nash, the QC for 9,000 private investors and a handful of major institutions bringing the legal action, that the case should not proceed after 87% of the shareholder group settled with the bailed-out bank or said they intended to. ...
More than a fifth of WPP investors reject Sorrell’s £48m pay package image
Source : Guardian [Read Article] Wednesday 7th of June 2017 11:58:17 AM
....A total of 21. 3% of shareholders either voted against his pay or abstained, the lowest level of unrest over Sorrell’s pay since 2010; 20. ...
Some RBS investors still refuse settlement image
Source : BBC [Read Article] Wednesday 7th of June 2017 11:29:00 AM
. A nine-year battle between RBS and angry shareholders ended at the High Court on Wednesday as a judge agreed to stop the case. ...
Santander rescues rival Banco Popular from collapse image
Source : BBC [Read Article] Wednesday 7th of June 2017 06:32:55 AM
....". However, shareholders appeared to disagree, with shares falling by 3% in early trading. ...
Advertisers should follow Vodafone's lead after Facebook and Google failures | Nils Pratley image
....Other advertisers should follow Vodafone’s lead – and, if not, explain why they’re happy to turn a blind eye when even small portions of their advertising budgets end up funding some of the internet’s most gruesome offerings. Shawbrook is the challenger bank that has been a challenging investment at times for its shareholders. ...
The Guardian view on the economy: invest for growth | Editorial image
Source : Guardian [Read Article] Tuesday 6th of June 2017 07:08:11 PM
....This strategy might have some foundation, except that the decline in corporate taxes from 28% in 2010 to 19% this year produced virtually no increase in investment or productivity. Instead profits have found their way back to shareholders. ...
Burberry's Bailey to get £10.5m in shares when he checks out as CEO image
Source : Guardian [Read Article] Tuesday 6th of June 2017 05:35:18 PM
....The Yorkshire-born designer was named chief executive later that year – in addition to his previous role as chief creative officer. Holding both roles proved to be controversial with shareholders and he will become president of the business next month when Marco Gobbetti becomes chief executive after joining from French luxury brand Céline earlier in the year. ...
Fred Goodwin escapes high court appearance as RBS settles lawsuit image
Source : Guardian [Read Article] Tuesday 6th of June 2017 11:50:13 AM
. Fred Goodwin has escaped being summoned to the high court to explain his actions during the 2008 financial crisis, after disgruntled shareholders finally reached a settlement with Royal Bank of Scotland. ...
London Stock Exchange shouldn't bend rules for $2tn Saudi flotation | Nils Pratley image
.... It makes a point that is really just common sense. If you have a sound rule, born from hard experience of how minority investors can be exploited by a single controlling shareholder, stick to it. ...
London attack: Tech firms fight back in extremism row image
Source : BBC [Read Article] Sunday 4th of June 2017 03:05:46 PM
.... "We all know that social media companies have been a very helpful tool for hate preachers and for extremists," Dr Rushchenko said. Investors suggested that tech firms would be more willing to take further action against extremist content if shareholders and advertisers pressured them to do so. ...
Yes, house prices are falling: but they probably won’t fall quickly image
....French Connection was once a big brand – remember when every teenager wanted FCUK on their T-shirt? But the label has been drifting for a decade and has run up five years of losses. At this point, big shareholders might suggest new management is required. ...
WPP needs a big name to follow Sir Martin Sorrell image
Source : Guardian [Read Article] Sunday 4th of June 2017 06:00:16 AM
....So, if you or I had bet on disaster for investors in a company that, say, floated at 240p a share in 2016, and those shares were now trading at around 130p, we would have made 110 (240–130) times our original stake. Funnily enough, that is exactly what would have happened if you had shorted the shares of financial spread betting group CMC Markets, which floated last year and whose management will have to face shareholders this week when it announces full-year results. ...
Jeff Bezos: the 'obsessive' Amazon founder and world's next richest man image
.... Since then, Amazon has expanded into other retail categories, such as food, clothing and electricals, and developed a formidable cloud computing service, its own television shows and an electronic personal assistant for people’s homes. In each annual financial report, Bezos reprints the letter he sent to shareholders in 1997, when Amazon floated on the stock market. ...
Walmart asking staff to deliver online orders on their way home image
Source : Guardian [Read Article] Friday 2nd of June 2017 06:36:59 PM
.... The test is limited to three stores in New Jersey and Arkansas. The announcement came ahead of Walmart’s annual shareholder meeting on Friday. ...
Arora brothers cash in £227m of shares from B&M retail chain image
Source : Guardian [Read Article] Friday 2nd of June 2017 12:13:31 PM
....In a statement issued to the stock market about the share placing this week, Simon Arora, who is chief executive of B&M, and his brother Bobby, who is trading director, said they remained “fully committed to the business and are confident in the outlook for B&M both in the UK and internationally”. Their SSA Investments vehicle is still B&M’s largest shareholder and the statement said the Aroras were “committed to participating in B&M’s exciting future growth prospects”. ...
Facebook shareholders press management on fake news image
Source : BBC [Read Article] Thursday 1st of June 2017 07:37:51 PM
....For Facebook, it's fake news. But shareholders say it's a real issue. ...
PPG drops bid to buy Dulux owner AkzoNobel image
Source : BBC [Read Article] Thursday 1st of June 2017 10:57:44 AM
.... . "As a result, we believe it is in the best interests of PPG and its shareholders to withdraw our proposal to AkzoNobel," he said. ...
Brazil meat-packing giant JBS to pay record $3.2bn corruption fine image
. The controlling shareholder of the world's largest meat-packing company, JBS, has agreed to pay a record 10. ...
UK policymakers face a dilemma over public's slowing demand for credit image
Source : Guardian [Read Article] Wednesday 31st of May 2017 07:17:49 PM
.... They pay lots of tax due on those bonus shares – in this case £70m – which they will cover by selling a few of those shares. But so much more money might have found its way into the companies owned by Melrose if only it didn’t, like a private equity firm, see itself as a vehicle for extracting value and handing it to shareholders. ...
UK councils under pressure over £1bn of tobacco investments image
Source : Guardian [Read Article] Wednesday 31st of May 2017 05:40:08 PM
.... Cigarettes were produced in Nottingham until May last year. Imperial counts 19 local authorities among its shareholders, with their investments adding up to nearly £290m. ...
Shareholders force ExxonMobil to come clean on cost of climate change image
Source : Guardian [Read Article] Wednesday 31st of May 2017 05:28:57 PM
. ExxonMobil, the world’s biggest oil company, was compelled by shareholders to be more open about the impact of climate change on its business in a “historic” surprise vote on Wednesday. ...
Exxon shareholders back 'historic' vote on climate image
Source : BBC [Read Article] Wednesday 31st of May 2017 05:26:43 PM
.... . They've been accused of allegedly concealing information from shareholders on when the company first realised that human emissions of carbon were driving up global temperatures. ...
Bumper bonus: four directors grab £40m each in City payday image
Source : Guardian [Read Article] Wednesday 31st of May 2017 11:58:59 AM
.... The rest is owned by financial institutions led by BlackRock. Melrose stressed that the bonus plan was strongly aligned to shareholder returns, with £3. ...
BA’s failures fly in the face of ‘customer as king’. This is the new normal | Peter Fleming image
.... The customer was never really king in this economic model, but a perennial loser for increasingly evident reasons. BA epitomises shareholder capitalism, which corporate Britain has embraced so ardently in the water, energy, transport, banking and many other sectors. ...
Watchdog probes Tesco-Booker deal image
Source : BBC [Read Article] Tuesday 30th of May 2017 11:54:19 AM
.... . As well as raising concerns over competition issues, Tesco's move for Booker has also been criticised by some of its shareholders. ...
British Airways owner loses £170m in value after IT meltdown image
Source : Guardian [Read Article] Tuesday 30th of May 2017 09:01:05 AM
.... An IAG spokeswoman said the group never commented on movements in the share price. George Salmon, an equity analyst at Hargreaves Lansdown, said: “While the costs of passenger compensation and refunds could well run into the tens of millions, the whole sorry episode has undeniably put a dent in BA’s reputation for delivering a premium service, and the worry for shareholders is that this unquantifiable impact could have longer-term consequences. ...
BT considering closing defined-benefit pensions scheme for existing staff image
....If BT decides to impose a cap on benefits for existing members, it would affect about 33,000 employees paying into the scheme out of a total of about 300,00 members. In its latest annual annual report, published last week, the telecoms group told shareholders: “We have a large funding obligation to our defined benefit (DB) pension schemes. ...
BA to take 'some days' to clear baggage backlog image
Source : BBC [Read Article] Monday 29th of May 2017 11:17:43 PM
....". George Salmon, a Hargreaves Lansdown analyst, said: "The whole sorry episode has undeniably put a dent in BA's reputation for delivering a premium service, and the worry for shareholders is that this unquantifiable impact could have longer-term consequences. ...
Dulux owner wins court victory in shareholder battle image
Source : BBC [Read Article] Monday 29th of May 2017 09:01:01 PM
....Dulux paint owner Akzo Nobel has scored a court victory in its battle to fight off an unwanted takeover offer from US rival PPG Industries. A Dutch court rejected attempts by a group of shareholders to force a special shareholder meeting aimed at ousting the company's chairman. ...
RBS investors urged to settle case with bailed-out bank image
Source : Guardian [Read Article] Monday 29th of May 2017 02:23:52 PM
....An action group representing investors involved in the long-running legal battle has told its members it has decided to accept the 82p-a-share offer, which RBS presented to them just hours before the case was due to begin last Monday. The case has been adjourned until 7 June to allow the shareholders to consider the £200m settlement from RBS. ...
Whole Foods represents the failures of 'conscious capitalism' | Nicole Aschoff image
....John Mackey, the company’s chief executive, has long argued that Whole Foods is wired differently — that it runs on a “conscious capitalism” model that outsmarts the competitive pressures of our for-profit system through creativity and innovation. In Liberating the Heroic Spirit of Business: Conscious Capitalism, Mackey argues that his conscious capitalism model achieves success by honoring not just shareholders but all stakeholders, including workers, communities and the environment. ...
RBS investors ready to settle share sale legal dispute image
Source : BBC [Read Article] Monday 29th of May 2017 10:24:46 AM
. A group of small shareholders has reached a settlement with RBS over claims that they were misled about the bank's health before it asked investors for £12bn in 2008. ...
Judge expects update on Royal Bank of Scotland settlement negotiations image
....Goodwin has been called to give evidence in the long-running legal battle brought by thousands of investors who argue they were misled into buying the bank’s shares in a £12bn cash call in April 2008. The bank was bailed out six months later, leaving the shareholders nursing losses. ...
SFO delays decision again on charging Barclays over 2008 fundraising image
....The events of 2008 have prompted a number of other court cases. Royal Bank of Scotland is attempting to settle claims from shareholders that they were misled during the time of a £12bn cash call in April 2008. ...
Petrofac's move to appease SFO offers fuel for thought | Nils Pratley image
....Aside from the direct uncertainty around the SFO’s investigation, Petrofac’s day-to-day operations will be hampered by Chedid’s absence. He is righthand man to Ayman Asfari, Petrofac’s chief executive, 18% shareholder and driving force since the 1990s. ...
Paradise in the Med image
Source : BBC [Read Article] Thursday 25th of May 2017 09:54:43 PM
.... . While local businesses must pay 35% on profits, international corporations profit from a corporation tax rate of as little as 5%, thanks to a complex system where shareholders can receive a tax refund of up to six-sevenths of their tax paid in Malta. ...
RBS shareholders refuse to settle in effort to force Goodwin to take stand image
. A group of “diehard” shareholders determined to see the former Royal Bank of Scotland chief executive Fred Goodwin in court are refusing to accept a settlement in their £700m legal claim against the bank. ...
Ineos buys Dong Energy's oil and gas business in £1bn deal image
Source : Guardian [Read Article] Wednesday 24th of May 2017 04:16:05 PM
.... Some, like Dong, will be able to rebalance their portfolios into other assets like renewables. “However, not all energy companies will feel their skills translate to low-carbon energy sources, but they can still deliver good results with a disciplined approach of focussing only on the lowest-cost oil and gas projects and returning excess cash to shareholders. ...
'I spit on you again': Russian billionaire renews tirade against Putin rival image
. The Russian billionaire and Arsenal shareholder Alisher Usmanov has launched an embittered online attack on the anti-corruption campaigner and Vladimir Putin critic Alexei Navalny. ...
Is M&S being radical enough as it slips out of fashion? | Nils Pratley image
Source : Guardian [Read Article] Wednesday 24th of May 2017 01:40:53 PM
.... This show of faith in one non-executive is remarkable, but one can almost understand why it’s happened. After a decade of modernisation programmes under former chief executives Stuart Rose and Marc Bolland – and another five years in prospect under Steve Rowe – poor old M&S shareholders must be crying out for a proven outsider’s analysis of where it’s all leading, and how quickly. ...
Thousands of protesters brand McDonald's the 'Trump of corporations' image
Source : Guardian [Read Article] Wednesday 24th of May 2017 12:26:03 PM
. Thousands took to the streets of downtown Chicago on Tuesday night calling McDonald’s the “Donald Trump of corporations” and protesting low wages and sexual harassment at the world’s largest fast food chain a day before the company’s annual shareholder meeting. ...
Talks to avert RBS court case to continue into June image
Source : Guardian [Read Article] Wednesday 24th of May 2017 06:35:03 AM
....“We must have certainty one way or another,” Mr Justice Hildyard told the court. The case had been due to start in central London on Monday and the judge has already granted two 24-hour adjournments to allow shareholders to thrash out a deal with RBS, which made a last-minute settlement offer just before the case was due to begin. ...
Nationwide profits drop 18% as it shields savers from interest rate cuts image
.... Garner said the Nationwide did not have an interest in acquiring Co-op Bank in its entirety. The Co-op Bank has put itself up for sale and the City is awaiting an update on whether its bondholders and shareholders will put in more cash to help bolster its financial position. ...
Last-ditch RBS talks continue as court is adjourned for a second day image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 08:55:34 AM
....Last-ditch talks are under way to avert a legal battle that would force Royal Bank of Scotland’s disgraced former chief executive Fred Goodwin to give evidence at the high court. A judge hearing the case brought by thousands of shareholders claiming they were misled into buying RBS shares in April 2008 was told that the majority of them had indicated their willingness to agree a settlement with the bailedout bank. ...
RBS could rob us of the chance to see Fred Goodwin grilled in court | Nils Pratley image
.... Now the board wants to kill the legal case that could see the duo, plus two other former directors, cross-examined in court. RBS’s attempt to settle with the 9,000 shareholders who claim they were misled into backing the £12bn rights issue in 2008 is not a great surprise. ...

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