Press | Vox Markets
LLOY
Lloyds Banking Group (LLOY) has revealed that annual profits slumped by more than a quarter to £4.39 billion, after it was hit by a £2.5 billion bill for the payment protection insurance (PPI) scandal.
ALY
Ashley (Laura) Holding (ALY)‘s losses have ballooned in a tough year for the fashion retailer, as it continues to stay afloat despite serious worries over the business’s finances. The loss before tax hit £4 million in 2019, up from £1.5 million the year before.
BA.
Revenue and profit jumped at defence giant BAE Systems (BA.) in 2019, the company said, as it announced a new deal for its pension pot. The company’s revenue hit £18.3 billion, while operating profit grew to nearly £1.9 billion.
LLOY
António Horta-Osório, formerly Britain’s best-paid banking boss, has taken a 28% cut to his £6.5m pay package as Lloyds Banking Group (LLOY) reported a sharp fall in profits last year.
BARC
Barclays (BARC) using ‘Big Brother’ tactics to spy on staff, says TUC. Bank admits using tracking software to log how long staff spend away from their desks
AAL
Anglo American (AAL) chief defends rescue bid for Sirius Minerals. Mark Cutifani says the group’s £524m offer for developer of North Yorkshire fertiliser mine is ‘fair and reasonable’.
SN.
Smith & Nephew (SN.) full-year sales surpass $5bn for the first time. The medical device maker faces ‘additional uncertainty’ from the coronavirus outbreak.
BOE
Boeing Co (BOE)’s small suppliers plagued by uncertainty over 737 Max. Distributors to the plane maker face capital squeeze and delay in investing in new machinery.
HAS
Recruiter Hays (HAS) hit by slowdown in German market. Profits also dented by strikes in France, UK election and Australian bushfires.
to halve pension deficit with £1bn injection. UK defence group forecasts growth in earnings and cash on the back of a strong order book.
LLOY
Lloyds Banking Group (LLOY) warns profitability to fall as low interest rates hit. Bank chief António Horta-Osório faces 29% pay cut as part of shift to new remuneration model.
AAL
Doubts over Anglo American (AAL)’s £405 million takeover of Sirius Minerals have deepened after the hedge fund run by Crispin Odey opposed the deal.
BA.
BAE Systems (BA.) has said that it will have to find £1.9 billion to shore up liabilities in its pension schemes, whose liabilities are so large that they dwarf the company’s market value.
AAL
Anglo American (AAL) has insisted its £405 million bid for Sirius Minerals is “fair and reasonable” after a hedge fund joined small shareholders in pushing for a higher offer.
LLOY
Lloyds Banking Group (LLOY) has reported a 26 per cent drop in annual profits to £4.4 billion. The fall was slightly worse than the City expected, with analysts forecasting profits of about £4.5 billion.
LLOY
Annual profits at Lloyds Banking Group (LLOY) fell by a quarter after taking a £2.45bn charge for payment protection insurance compensation as its boss took a big pay cut.
BA.
BAE Systems (BA.) sales and profits rose last year as the defence giant announced a deal to pump an extra £1bn into its pensions schemes to cut their funding deficit.
AAL
SXX
Crispin Odey’s hedge fund has attacked Anglo American (AAL)’s “unjust” takeover bid for Sirius Minerals (SXX), saying the £405m offer does not represent a fair price for shareholders in the troubled fertiliser miner.
MONY
Moneysupermarket.com Group (MONY) boss is heading for the exit. The chief executive of Britain’s biggest price comparison website is stepping down after three years in the role.
MTRO
Metro Bank (MTRO) on restructuring expert for turnaround. A little-known executive who previously spent eight years at a lender in Bermuda has been handed the task of turning around Metro Bank.
AAL
SXX
The hedge fund run by Crispin Odey is pushing Anglo American (AAL) to increase its £404 million, 5.5p a share offer for Sirius Minerals (SXX).
MONY
The boss of Moneysupermarket.com Group (MONY) said he would step down in pursuit of a career change. Mark Lewis, who has run the business for three years, will continue to hold the top job until a successor can be found, so no departure date has been set.
MTRO
High street lender Metro Bank (MTRO) has appointed interim boss Dan Frumkin as its permanent chief executive as the group looks to recover after a tough year.
IAG
Qatar Airways Group has upped its stake in British Airways owner International Consolidated Airlines Group SA (CDI) (IAG) to 25.1 per cent from 21.4 per cent.
ALY
Shares in Ashley (Laura) Holding (ALY) rebounded slightly after the troubled retailer said it gained permission to use a loan to fund its daily operations.
AAL
SXX
Crispin Odey’s hedge fund to turn down Anglo American (AAL)‘s £405m bid for Scarborough firm Sirius Minerals (SXX).
IAG
Qatar has tightened its grip on the owner of British Airways International Consolidated Airlines Group SA (CDI) (IAG), spending more than £450m on new shares.
BARC
The Barclays (BARC) chairman has been urged by shareholders to back under-fire chief executive Jes Staley while regulators investigate his relationship with sex offender Jeffrey Epstein.
ALY
Shares in struggling clothing and home retailer Ashley (Laura) Holding (ALY) soared after it secured a vital financial lifeline in the face of a crisis on the high street.
SXX
AAL
Hedge fund tycoon Crispin Odey has warned that he will oppose a rescue of failing fertiliser miner Sirius Minerals (SXX) by Anglo American (AAL) in a major blow to the company’s takeover bid.
AAL
SXX
Odey hits at Anglo American (AAL)’s rescue bid for Sirius Minerals (SXX). Hedge fund says £524m offer undervalues North Yorkshire fertiliser mine developer.
ALY
Ashley (Laura) Holding (ALY) grabs funding lifeline in survival battle. Shares in struggling retailer rebound after main shareholder agrees deal.
MTRO
Metro Bank (MTRO)’s interim boss Dan Frumkin to take top job permanently. Turnround specialist faces challenge of winning back investor confidence.
IAG
Qatar Airways increases stake in BA owner International Consolidated Airlines Group SA (CDI) (IAG). Gulf carrier boosts holding as it ramps up strategy of investing in profitable airlines.
DGE
Diageo (DGE) agrees $5m SEC fine over hidden sales. Regulator says world’s largest spirits maker used overshipments to mislead investors