Sinead's Feed
Oct 12, 2012

Tax experts note holes in planned rights for shares scheme

LONDON, Oct 12 (Reuters) – A plan to allow British employers
to give shares to workers who sign away employee rights could
leave the same staff with soaring tax bills, experts warn.

The controversial scheme, unveiled by Chancellor George
Osborne earlier this week, will see workers surrender perks such
as flexible working or redundancy entitlements in exchange for
shares worth up to 50,000 pounds in the company they work for.

Oct 11, 2012

BAE to meet with investors on ‘plan B’

LONDON, Oct 11 (Reuters) – BAE Systems moved to
patch up damaged relations with its investors on Thursday,
promising imminent meetings to discuss its strategy after the
failure of its attempted merger with EADS, shareholders
told Reuters.

Investors are keen to hear management make its case and
explain how Europe’s biggest defence contractor plans to keep
growing when governments are cutting back on their military
spending.

Oct 10, 2012

Safran shareholder TCI warns against more mergers

PARIS/LONDON, Oct 10 (Reuters) – Activist investor The
Children’s Investment Fund Management(TCI) has turned its
attention to French aerospace group Safran, telling it
to stop making “value destructive” acquisitions and return cash
to shareholders instead.

The influential London-based hedge funds firm, known for its
ability to rally other shareholders behind its campaigns to
shake up a target company’s management, said in a letter
addressed to Safran’s top executives that it wants it to halt
any further acquisitions outside the civil aerospace sector.

Oct 1, 2012

Xstrata gives cautious blessing to $33 billion Glencore bid

LONDON (Reuters) – Mining group Xstrata (XTA.L: Quote, Profile, Research, Stock Buzz) gave its long-awaited blessing on Monday to a revised $33 billion bid from trader Glencore, bowing to investor pressure by changing the deal to ensure a payment plan to keep its top managers does not sink the tie-up.

Xstrata dropped its insistence that the overall deal be tied to a shareholders’ vote on the controversial package which offers over 70 top executives a total of roughly 140 million pounds ($226 million) to dissuade them from quitting.

Sep 30, 2012

Funds retreat from Japan, short-sellers circling, in China spat

LONDON, Oct 1 (Reuters) – Nervous overseas funds are
starting to pull money out of Japan, spooked by a territorial
spat with China that has prompted talk of corporate boycotts,
weakened trade and even military action.

Political commentators have played down the significance of
the latest flare-up in a long-running feud between Asia’s
largest economic powerhouses over the ownership of a handful of
small islands in the East China Sea.

Sep 17, 2012

Private banks work wonders to lure the super-rich

LONDON, Sept 17 (Reuters) – What do you get the client who
has everything? An evening at a sleep school to get tips on how
to beat insomnia? A chance to play cricket with former England
star Andrew Flintoff? Advice on finding the right school?

These are just some of the services offered by Barclays
in its “Little Book of Wonders,” underscoring the
lengths to which the bank is prepared to go to win the custom of
the super-wealthy at a time when its traditional businesses are
struggling with weak economies and tougher regulators.

Sep 10, 2012

Barclays boss vows to be quick and bold in reform plan

LONDON (Reuters) – Barclays Plc’s (BARC.L: Quote, Profile, Research, Stock Buzz) new boss promised to move quickly and boldly to reform the scandal-hit bank, signaling possible retrenchment in investment banking as he sets out to reform a culture regulators have criticized as too aggressive.

Chief Executive Antony Jenkins, appointed 11 days ago to restore the reputation of Britain’s fourth-largest bank after a series of scandals, faces a delicate balancing act in reassuring investment bankers who deliver more than half of Barclays’ profits while rebalancing the group’s operations.

Sep 10, 2012

Barclays boss ready to pare down investment bank

LONDON, Sept 10 (Reuters) – Barclays’ new boss
promised bold action to tackle big bonuses at its investment
bank and to cut businesses that suck up too much capital, as he
reforms a culture regulators have criticised as too aggressive.

Chief Executive Antony Jenkins, appointed 11 days ago to
restore the reputation of Britain’s fourth-largest bank after a
series of scandals, on Monday said investment banking has a
central place within the group.

Sep 10, 2012

New Barclays boss weighs investment bank’s future

LONDON, Sept 10 (Reuters) – The future of Barclays’
investment bank is the most pressing issue for new chief
executive Antony Jenkins to address when he speaks to investors
and his own investment bankers on Monday.

Jenkins, appointed 11 days ago to restore the reputation of
Britain’s fourth-largest bank after a series of scandals, is
expected to curb the riskier investment banking business built
by his predecessor as he reforms a culture regulators have
criticised as too aggressive.

Sep 7, 2012

Schroders calls revised offer for Xstrata “still inequitable”

LONDON (Reuters) – Top 20 Xstrata Schroders dismissed commodities trader Glencore’s eleventh hour revised offer for the miner as still below its true value on Friday.

“We’re still not particularly enthused,” said Schroder’s head of UK equities Richard Buxton after Glencore raised its offer to 3.05 new shares for every Xstrata share it does not already own, up from 2.8 shares.