Markets

London - The FTSE 100 is currently 14.22 points higher at 4,248.27. Thomson Reuters tops the risers’ board, up nearly 6%, after announcing that it is seeking shareholder approval to unify its dual-listed company structure. In connection with the unification, the company said it may repurchase the equivalent of up to $500 million of its shares in one or more of its markets. Bunzl gains 1.2% after reporting its first half revenue rose 17%. On the downside, Anglo American continues to fall following news of a potential merger with Xstrata. Legal & General slips 2.4% after SocGen cut its rating on the stock to Sell from Hold.

Posted: June 23rd, 2009 under Asset Management.
Comments: none

This old chestnut has been in court again. The law about what information in a business is regarded as confidential and so must not be taken or used by an ex-employee is complex. The practical effect of the law often seems at odds with commercial common sense depending on the circumstances. In the most recent [...]

Posted: June 22nd, 2009 under Business Advisory Services, Intellectual Property.
Comments: none

Following the Budget announcement that the cap on a week’s pay for redundancy purposes is to be increased from £350 to £380 the Government has now confirmed that this will take effect from 1 October 2009.  The maximum statutory redundancy payment will therefore increase from £10,500 to £11,400.
The increase will also apply to other awards that [...]

Posted: June 22nd, 2009 under Employment/HR.
Comments: none

Markets
London - The FTSE 100 is currently 48.13 points lower at 4,297.80. Royal Dutch Shell and BP, which make up 17% of the market value of the FTSE 100, cause the biggest drag following falling crude prices. Royal Dutch Shell is 2% lower, while BP slips 2.3%. Anglo American tops the risers’ board, up 9%, after Xstrata made a merger approach. Xstrata said yesterday it had sent a written proposal to rival Anglo American seeking a “merger of equals.” The combination would create a new top-tier mining giant with vast holdings in copper, nickel, coal, platinum and other metals and minerals - although there are many hurdles to a deal, including possible political concerns, vastly different management styles, the role of major shareholders in both companies and Anglo’s reluctance to engage with Xstrata.

Posted: June 22nd, 2009 under AML Information.
Comments: none

Markets
London - The FTSE 100 is currently 29.39 points higher at 4,310.25. Aviva tops the risers’ board, gaining 4.1% while Petrofac leads the fallers, off 1.7%. British Sky Broadcasting benefits from a broker upgrade courtesy of UBS. The company is now rated at Buy from Neutral sending shares 2.2% higher.

Posted: June 19th, 2009 under Asset Management.
Comments: none