Business News

Compass to return £1 billion to shareholders via special dividend

Compass to return £1 billion to shareholders via special dividend

Catering giant Compass has reported an increase of nearly 6 per cent in adjusted pre-tax profit for the six months to March 31 this year, announced decision to serve up £1 billion special dividend to its shareholders.

The Surrey-based world's largest catering group announced that its six-month pre-tax profit jumped 5.7 per cent year-on-year to £608 million.

Admiral reports 7pc decline in Q1 turnover

Admiral reports 7pc decline in Q1 turnover

British auto insurer Admiral Group Plc reported a decline of 7 per cent in turnover for the first quarter of 2014, even as the number of customers jumped 6 per cent.

The Cardiff-based insurance group said its turnover slipped to 514 million pounds (nearly $865M) in the three months ended March 31, 2014, down from 551 million pounds in the corresponding three-month period of the previous year.

Sports Direct in talks to buy 30 gyms from LA Fitness

Sports Direct in talks to buy 30 gyms from LA Fitness

The UK-based sporting goods retailer Sports Direct International Plc is in talks to acquire numerous gyms from LA Fitness, a person familiar with the matter revealed.

Large number of workers value jobs that don’t demand fixed hours: Vince Cable

Large number of workers value jobs that don’t demand fixed hours: Vince Cable

Liberal Democrat Business Secretary Vince Cable has rejected the proposal to provide workers on zero-hours contracts with a legal right to a fixed-hours deal after twelve months with the same company/employer.

The Labour Party had proposed that people who are working under zero-hours contracts should be guaranteed a legal right to a fixed-hours contract with their employer after a year.

China’ action against British executive may prompt firms to rethink their investments

China’ action against British executive may prompt firms to rethink their investments

Chinese police's action against a British executive of GlaxoSmithKline Plc might cause some international companies to rethink their investment plans in the country.

ITV hopes World Cup to lift ad revenues by up to 13%

ITV hopes World Cup to lift ad revenues by up to 13%

ITV chief executive Adam Crozier has expressed hope that the football World Cup in Brazil could lift the company's advertising revenues by up to 13 per cent later this year.

In the three months ended March 31, the commercial broadcaster suffered a fall in the number of viewers, while revenue growth missed analysts' expectations.

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