The British government is selling off its entire 40 percent interest in channel-tunnel train operator Eurostar International Ltd. The move is part of the government's plan to raise 20 billion British pounds by 2020 through privatizations to reduce its public sector deficit. The government announced that it was inviting offers for the stake sale in October 2014.
Standard Chartered Plc reported Wednesday a sharp decline in fiscal 2014 profit, reflecting lower operating income and higher loan impairment, amid challenging market environment, de-risking and disposal actions. The company maintained its full year dividend, and announced certain targets for cost savings and cut in Risk Weighted Assets. The shares were trading around 5
UK-based insurer and pension fund manager Legal & General Group Plc Wednesday reported higher profit in its fiscal 2014 with significant growth in net premiums. The company also lifted its dividend. The shares were losing around 3 percent in the morning trading in London.
Commodities trader Glencore International Plc., which acquired miner Xstrata last year, reported a profit in its fiscal 2014, compared to a loss last year, mainly reflecting sharp decline in certain significant expenses. Further, the company lifted its full-year dividend, while trimmed its guidance for fiscal 2015 industrial capex. The stock is currently trading around 2 percent lower in London.
Lender Barclays Plc. Tuesday said full-year profit before tax declined 21 percent from last year, hit by items. The company noted that its Personal and Corporate Banking or PCB and Barclaycard businesses continued to thrive and grow, while Africa Banking did well despite currency headwinds. The company saw encouraging performance in several areas of Investment Bank.