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Aug 11, 2015

New Prudential CEO Wells enjoys forecast-beating start

LONDON, Aug 11 (Reuters) – Mike Wells hailed
forecast-beating half-year earnings in his first set of results
since taking charge of British insurer Prudential,
saying he was confident he could build on an ambitious global
expansion drive started by his predecessor.

Operating profit jumped 17 percent, boosted by strong
performances across the firm’s main Asian, U.S. and UK markets.
The figure of 1.9 billion pounds ($2.96 billion) beat a company
supplied analyst consensus of 1.7 billion pounds.

Aug 10, 2015

Shire steps up drive to get Baxalta talking after $30 billion bid

LONDON (Reuters) – Shire (SHP.L: Quote, Profile, Research, Stock Buzz) Chief Executive Flemming Ornskov is stepping up his campaign to get Baxalta (BXLT.N: Quote, Profile, Research, Stock Buzz) to the negotiating table as he pushes the benefits a $30 billion takeover offer to the U.S. biotech company’s shareholders.

He has a fight on his hands, with investors in newly listed Baxalta arguing he must pay more, although one person close to the Dublin-based drugmaker said there had been “encouraging feedback” from shareholders on the logic of the tie-up.

Aug 10, 2015

Shire CEO steps up drive to get Baxalta board talking

LONDON, Aug 10 (Reuters) – Shire Chief Executive
Flemming Ornskov is stepping up his campaign to get Baxalta
to the negotiating table as he pushes the benefits a
$30 billion takeover offer to the U.S. biotech company’s
shareholders.

He has a fight on his hands, with investors in newly listed
Baxalta arguing he must pay more, although one person close to
the Dublin-based drugmaker said there had been “encouraging
feedback” from shareholders on the logic of the tie-up.

Aug 10, 2015

Banks build capital to keep regulators and investors sweet

LONDON, Aug 10 (Reuters) – Europe’s biggest banks have
stockpiled capital this year to cushion them against unexpected
demands from regulators and also to show their long-suffering
shareholders higher dividend payouts could be just over the
horizon.

Even when the banks’ earnings have disappointed, the need to
stay one step ahead of regulators has encouraged managements to
step up capital rebuilding, analysts said.

Aug 6, 2015

Old Mutual’s first-half profit boosted by African, funds units

LONDON (Reuters) – Anglo-South African financial services group Old Mutual (OML.L: Quote, Profile, Research) reported a 20 percent rise in first-half operating profits on Thursday, beating forecasts thanks to a strong performance at its African, wealth and fund management units.

The results are the last for outgoing Chief Executive Julian Roberts, who makes way for Standard Bank (SBKJ.J: Quote, Profile, Research) executive Bruce Hemphill later in the year after a period of strong growth in which it has put greater emphasis on boosting asset inflows.

Aug 6, 2015

Old Mutual’s H1 profit boosted by African, funds units

LONDON, Aug 6 (Reuters) – Anglo-South African financial
services group Old Mutual reported a 20 percent rise in
first-half operating profits on Thursday, beating forecasts
thanks to a strong performance at its African, wealth and fund
management units.

The results are the last for outgoing Chief Executive Julian
Roberts, who makes way for Standard Bank executive
Bruce Hemphill later in the year after a period of strong growth
in which it has put greater emphasis on boosting asset inflows.

Aug 5, 2015

Standard Chartered halves dividend, says may raise cash

LONDON, Aug 5 (Reuters) – Standard Chartered halved
its dividend and said it would raise capital from investors if
needed, as new Chief Executive Bill Winters outlined plans to
revive a bank hit by a 44 percent slump in first-half profit.

Asia-focused Standard Chartered (StanChart) has had a
troubled three years, hurt by a weakening in many of its key
emerging markets as well as fines from U.S. regulators for
misconduct and strained relations with top shareholders.

Aug 3, 2015

More pain seen for Greek bank stocks before buyers emerge

ATHENS/LONDON (Reuters) – Greek bank shares were expected to be hit by more losses on Tuesday following a 30 percent plunge on the first day of trading after a five-week stock market shutdown.

Traders said buyers were not likely to start looking for bargains until yet lower levels were reached.

Aug 2, 2015

Lloyds shareholders question government’s sale plan

LONDON, Aug 2 (Reuters) – Shareholders in Britain’s Lloyds
Banking Group are calling on the government to rethink
plans to sell down its stake in the lender to ensure taxpayers
get the best deal.

Finance Minister George Osborne has pledged to sell part of
the government’s remaining shares in the bank to ordinary
Britons in a sale reminiscent of the 1980s privatisations of
British Gas and British Telecom under former prime minister
Margaret Thatcher.

Jul 15, 2015

Exclusive: Syngenta investor rebukes board for YouTube engagement on Monsanto bid

LONDON (Reuters) – A leading Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz) investor has criticized the board for excluding all but “a very small group” of shareholders from talks that could determine the fate of a $45 billion takeover bid by Monsanto (MON.N: Quote, Profile, Research, Stock Buzz), a letter seen by Reuters showed.

Henderson Global Investors, Syngenta’s 20th biggest shareholder according to Thomson Reuters data, said the Swiss pesticide maker had relied on a YouTube video to communicate with other investors.