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News Tag: shareholders

September 19, 2011

Vince Cable attacks excessive fat cat pay

by Kay Mitchell
”Vince
At his keynote speech to the Liberal Democrat conference, Business Secretary Vince Cable is today expected to say that shareholders should have more of a say when it comes to bonuses paid to executives. He is also expected to outline plans which will force firms to disclose their excessive pay packages. Mr Cable is expected to set out new rules that ...




January 14, 2011

Bovis Homes optimistic as it resumes dividend

by Kay Mitchell
Bovis Homes optimistic as it resumes dividend
Housebuilder Bovis Homes has today issued a positive trading statement after saying it expects profits to be ahead of expectations for the 2010 year. The company, which is one of the smaller listed housebuilders, said it will also start paying dividends again to shareholders. Many housebuilders took a battering during the housing market slump and while Bovis said the longer-term prospects ...




November 25, 2010

Eric Daniels calls for Lloyds to keep HBOS

by Kay Mitchell
’Eric
Outgoing chief executive of Lloyds Banking Group, Eric Daniels, is calling on the Government to allow the bank to keep HBOS. The controversial takeover, which occurred at the height of the financial crisis, could be scrapped if a Government investigation establishes it has damaged competition. Final recommendations with regard to the takeover will be known next September, however, an interim report ...




November 2, 2010

Lloyds provides upbeat statement

by Kay Mitchell
”Lloyds
Lloyds Banking Group, which is 41% owned by the taxpayer, has today provided an upbeat statement as it continues its recovery from the global financial crisis. The bank, which had to be bailed out in autumn 2008, said it remains on track to deliver a "good financial performance" for 2010 as it continues with its cost-cutting exercise following its takeover of HBOS. It has been ...




October 24, 2010

Lloyds shareholders in protest meeting over HBOS takeover

by Kay Mitchell
”Lloyds
The group, Lloyds Action Now, has been holding protest meetings after the group claims their savings were wiped out following the Lloyds Banking Group’s merger with HBOS. Lloyds TSB’s controversial takeover of HBOS took place at the height of the financial crisis and the group was renamed Lloyds Banking Group. The shareholder group, which was established last year, claim investors were ...




August 12, 2010

Prudential counts the cost of failed AIA bid

by Kay Mitchell
”Prudential
British insurance giant Prudential has said the cost of its failed bid for AIA, the Asian arm of US company American International Group (AIG), is £377 million before tax relief. However, it is less than originally thought. Following the collapse of the deal, Pru said it faced costs of £450 million relating to the withdrawal of the deal, which ...




July 23, 2010

Shareholders suffer as dividend payments fall in 2010

by Kay Mitchell
Shareholders suffer as dividend payments fall in 2010
Research by Capita Registrars Dividend Monitor has revealed how shareholders will suffer this year due to a fall in dividend payments. Dividend payouts by London-listed companies will fall 6.5% in 2010, the company said, primarily due to the suspension of oil giant BP’s dividend. The research estimated British companies would pay £54.7 billion to shareholders this year, down from £58.5 billion ...




July 6, 2010

Former B&B shareholders will not receive compensation

by Kay Mitchell
”Former
An independent valuer has said former shareholders of crisis-torn Bradford & Bingley (B&B) will not receive any compensation after it was split and sold. At the height of the financial crisis, B&B’s loan book was nationalised, while Spanish banking giant Santander took ownership of its savings business and branch network. B&B's shares closed at 20p in the final day of trading before ...




July 5, 2010

Study reveals FTSE bosses enjoy 5% pay rise

by Kay Mitchell
Study reveals FTSE bosses enjoy 5% pay rise
Directors at FTSE 100 companies continue to see a rise in their salaries despite a fall in their share price. The Total Remuneration Survey 2010, conducted by pay consultancy MM&K and the proxy voting agency Manifest, shows chief execs at the UK's top 100 listed companies have seen their pay rise 5% since 2008 - to an average £3.1 ...




June 22, 2010

Ethical funds to shun BP

by David Masters
Ethical funds to shun BP
The small number of ethical funds with investments in BP are considering pulling out of the beleaguered oil supplier - two months after the biggest oil spill in history began on BP's watch. BP is a 'light green' company, meaning ethical investors buy shares in the firm to encourage it, as shareholders, to behave in an ethical way. This is compared to 'dark green' ...




June 7, 2010

Lloyds shareholders could sue over HBOS takeover

by Kay Mitchell
”Lloyds
The Treasury and Lloyds senior executives could be sued over the controversial takeover of HBOS, which took place at the height of the financial crisis. An investor group called Lloyds Action Now, which was established a year ago, claimed investors were lured into voting for the takeover, while not being provided with all the relevant information - particularly in respect to ...




June 6, 2010

Prudential has no plans for renewed AIA bid

by Kay Mitchell
”Prudential
British insurance giant Prudential has today said it has no plans for a renewed bid for AIA, the Asian arm of US company American International Group (AIG). The statement came after media reports today suggested that a fresh takeover deal was in the pipeline. Chad Tendler, Prudential's Hong Kong-based spokesperson, told Reuters: “We remain highly committed to Asia through our current ...




June 2, 2010

Prudential/AIA deal collapses

by Kay Mitchell
’Prudential/AIA
British insurance giant Prudential has abandoned its $35.5 billion (£24.6 billion) takeover of AIA, the Asian arm of US company American International Group (AIG). Several Prudential shareholders said they would not approve the takeover unless the Pru trimmed between $3 billion and $5 billion from the original price. Pru attempted to renegotiate the deal and offered a lower price tag of $30.375 billion, which AIA ...




May 30, 2010

Prudential deal may be scrapped if price not right

by Kay Mitchell
”Prudential
It has been reported over the weekend that insurance giant Prudential may call off the deal with AIA, the Asian arm of US company American International Group (AIG), if the price is not right. It emerged last week that Prudential, which is Britain’s second largest insurer, was renegotiating with AIA after investors were said to be unhappy with the ...




April 26, 2010

RBS remuneration package to be high on the agenda at AGM

by Kay Mitchell
”RBS
The Royal Bank of Scotland (RBS), which is 84% owned by the Government, is set to unveil plans to toughen performance targets at its AGM in Edinburgh later this week, after consultations with shareholders. According to reports, RBS chairman, Sir Philip Hampton, is expected to agree that the share price target element of the long-term incentive ...




March 2, 2010

Buffett confident of US housing market recovery

by Kay Mitchell
Buffett confident of US housing market recovery
Respected US billionaire investor Warren Buffett has said the problems in the US property market will be over within a year. In his annual letter to shareholders in Berkshire Hathaway, the investment group controlled by Mr Buffett, he said prices will remain 'far below bubble levels' for the medium term. He added: "People thought it was good news a few years ...




February 24, 2010

HSBC scraps big rise for its CEO

by Kay Mitchell
”HSBC
According to reports, banking giant HSBC has bowed to shareholder pressure and abandoned plans to raise its chief executive's salary. The Financial Times said the bank had consulted shareholders on proposals to raise Michael Geoghegan's salary by 36% to £1.4 million ($2.2 million). The FT also reported that the bank had planned to up the salary of Finance Director, Douglas Flint, from ...




February 5, 2010

Bank of America sued over Merrill Lynch takeover

by Kay Mitchell
Bank of America sued over Merrill Lynch takeover
US banking giant, Bank of America (BoA), has been sued by the New York Attorney General, Andrew Cuomo, for defrauding investors and the Government over its takeover of Merrill Lynch. BoA, and two of its senior executives, Ken Lewis and Joseph Price, have been accused of “enormous fraud” on taxpayers and shareholders over the takeover in 2008. In September 2008, ...




February 2, 2010

Cadbury shareholders vote in favour of Kraft takeover

by Kay Mitchell
’Cadbury
Cadbury shareholders have today voted in favour of the £11.5 billion ($18.9 billion) takeover deal from US giant, Kraft Foods. Today’s vote brings an end to Kraft’s five-month battle to take control of the 186-year-old British confectioner. Cadbury said it had received valid acceptances of the offer from shareholders representing 71.7% of the company. Commenting on the deal, Kraft ...




January 27, 2010

Cadbury workers stage protest over jobs threat

by Kay Mitchell
’Cadbury
Workers at British confectioner Cadbury are to stage a protest today in Bournville, Birmingham in a bid to urge shareholders to reject the takeover offer from US food giant, Kraft. Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, made an offer of £11.7 billion last week which 186-year-old Cadbury agreed to. Following the announcement, Roger Carr, ...