Lloyds seeks new London office in $100 million cost push
Businessam Staff
July 18, 2017
Lloyds Banking Group Plc is in talks to lease a new London office with room for about 1,000 workers in an effort to consolidate its locations in the capital and help save 100 million pounds ($130 million), two people familiar with the plan said. The U.K. bank is in discussions with law firm CMS Cameron […]
Netflix surges on strong subscriber growth
Businessam StaffJuly 18, 2017
Netflix on Monday announced adding more than 5 million subscribers in the June quarter, bringing its total subscriber base to about 104 million. According to CNN, the vast majority of new subscribers — more than 4 million — came from its overseas markets. In fact, Netflix’s international subscriber base is now larger than the U.S. […]
Oracle set to add 1,000 employees in European cloud push
Businessam StaffJuly 18, 2017
Oracle Corp. is hiring 1,000 employees in Europe, the Middle East and Africa as it expands its cloud computing services in the region. The company is looking for workers with between two to six years of experience to staff sales, management, finance, recruitment, marketing and human resources roles for its cloud computing service, Oracle said […]
BlackRock, world’s biggest asset manager, reels in cash but earnings disappoint
Businessam StaffJuly 17, 2017
BlackRock Inc’s second-quarter results failed to impress Wall Street on Monday as the world’s biggest asset manager cut fees to lure a wave of investor cash into its exchange-traded funds, sending shares down 3 percent. Investors of all types have been piling into ETFs and dumping more expensive alternatives, and BlackRock’s fees have raced toward […]
Trian launches public fight to add Peltz to P&G’s board
Businessam StaffJuly 17, 2017
Trian Fund Management LP said on Monday it was seeking a seat for its billionaire chief executive on Procter & Gamble Co’s board, as it looks to push the company to take more drastic steps to revive sales and profits. Trian’s announcement marks the official launch of the largest proxy fight ever, with the activist fund […]
Emirates, flydubai to partner on codeshare, schedule alignment, network optimisation
Businessam StaffJuly 17, 2017
Emirates Air and flydubai have signed a partnership agreement on expensive codeshare, schedule alignment and network optimization, which would see the two Dubai-based airlines join forces to offer customers unmatched travel options, according to a statement seen by businessamlive. The partnership will be rolled out over the coming months, with the first enhanced code-sharing arrangements […]
Shell, ExxonMobil, Chevron, Total, BP face S&P downgrade if oil prices below $50
Businessam StaffJuly 12, 2017
Big oil firms would face increased credit rating downgrade pressures if crude prices stayed below $50 a barrel on average until the end of 2018 and they did not compensate by cutting costs, S&P Global said on Wednesday. S&P currently has downgrade warnings – or negative outlooks in rating agency parlance – on ExxonMobil, Chevron […]
United Capital keeps earnings steady in H1 2017 at N3.9bn
Businessam StaffJuly 12, 2017
United Capital Plc, has kept earnings steady in the first half of 2017 posting a six percent increase over the figure recorded last year. The investment banking group recorded gross earnings of N3.87 billion and profit after tax of N2 billion, representing a three percent decrease year on year. Despite the slowdown in economic activities […]
Medview in strategic Nigeria route expansion
Businessam StaffJuly 12, 2017
In what appears to be a strategic business route expansion in Nigeria, Medview Airlines, a major player in Nigeria’s aviation industry, Tuesday expanded its domestic passenger services into Ilorin, from where it would fly to other cities in the country. Lukman Animasahun, and engineer and the airline’s chief operating officer, said at the Ilorin International […]
Eterna investors share N391m in dividends for 2016
Businessam StaffJuly 12, 2017
Investors who kept fairh in the shares of Eterna plc are to share in dividends totalling N391 million, with each share getting 30 kobo for the company’s business year ended 31 December 2016. At the company’s 24th Annual General Meeting (AGM) in Lagos, the board of the company got shareholders’ approval for its proposal to […]