Loyz Energy to Acquire China-Focused Primeline Energy for $145.7M
Loyz Energy Limited (Loyz Energy and together with its subsidiaries, the Group), a fast-growing Singapore-based upstream energy group Tuesday announced that it had June 8 entered into a binding memorandum of understanding (the MOU)...
Pax Labs Heats Up With $46.7 Million In Series C Funding
Pax Labs, the folks responsible for the Pax botanical vaporizer, have today announced a massive round of funding. The company is receiving $46.7 million in Series C financing led by existing investors, including...
HP to pay $100 million to shareholders following doomed Autonomy deal
HP's doomed acquisition of software maker Autonomy is costing another $100 million, as the PC maker says it has reached a settlement in class-action litigation stemming from the 2011 deal.The payout, directed toward the...
LLOYDS GIVEN RECORD FINE FOR PPI HANDLING
In a record judgement by the City watchdog, Lloyds Banking Group has been fined £117 million (€159 million) for its mishandling of payment protection insurance (PPI).This comes after the government announced that it...
RBS facing US banking trial over mortgage-backed securities
Royal Bank of Scotland has been taken to court in the US as part of the Federal Housing Finance Agency's (FHFA) litigious campaign to recover part of the losses arising during the credit crunch.
Seeking...
Glaxo completes part sale of Aspen stake
Glaxosmithkline has sold half its stake in former South African associate Aspen Pharmacare for £0.574bn.Having sold 28.2m shares, at a price of 372 rand per share, GSK now holds a 6.2% stake in...
Volkswagen says cost-cutting to start bearing fruit
German auto giant Volkswagen said Thursday it expects a massive cost-cutting programme to begin bearing fruit this year.
In a bid to turn around its flagship VW brand, the carmaker has embarked on a...
Emirates eyes 50 to 70 Airbus or Boeing long-haul jets
Emirates Airlines is considering the purchase of up to 70 twin-engine Airbus A350s or Boeing (NYSE: BA - news) 787s, company president Tim Clark said in Berlin Thursday, which would bolster the carrier's long-haul fleet.Clark remained...
FCA fines Aviva Investors £17.6 Million
The Financial Conduct Authority (FCA) has fined Aviva Investors Global Services Limited (Aviva Investors) £17,607,000 (€24 million) for systems and controls failings that meant it failed to manage conflicts of interest fairly. These...
Danish Bonus Schemes: Employer’s Discretion Curtailed – Pro-rated Payments on Termination
Introduction
Most bonus schemes contain specific wording to the effect that employees will not be entitled to a bonus if they leave their employment part way through the bonus year. As a matter of...
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