Citywire Top Stocks Daily News Digest

All the news from across the web about the companies featured in Citywire's Top Stocks

Barclays PLC

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• Financial Times: Barclays is preparing to cut at least £2 billion from its annual cost base of £20 billion as part of a strategic overhaul to be presented by the bank on Tuesday, say bank insiders and analysts
• The Guardian: Trouble-hit Barclays has admitted making an embarrassing gaffe over the reporting of a lifeline investment in the bank that saved it from seeking a government bailout during the financial crisis of 2008
• The Daily Telegraph: Barclays will begin the process of repairing its damaged reputation on Tuesday, admitting that the "old ways weren't the right way to behave"

BP PLC

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• Rigzone: Oceaneering International has announced that it has secured an order from BP Exploration Operating Company to supply umbilicals for BP's Quad 204 field development west of Shetland, the UK

Diageo PLC

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• The Daily Telegraph: Diageo is pouring fresh investment into its gin brands, Gordon's and Tanqueray, to take advantage of a surprise surge in sales of the spirit in hard-hit economies such as Spain and the UK
• Bloomberg: India’s Srei Infrastructure Finance plans to sell shares of United Spirits it got as collateral for lending to Kingfisher Airlines to Diageo; Srei has acquired 4.9 million shares of United Spirits

Experian PLC

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• Herald Online: Experian Automotive has announced the launch of AutoCheck Triggers, a programme to further empower automotive professionals by providing actionable insights, allowing them to maximise profits, reduce risk and increase their competitive advantage

First Quantum Minerals PLC

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• Bloomberg: First Quantum Minerals has extended its hostile $5.1 billion bid for Inmet Mining to 5 pm New York time on 27 February to give it more time to get the necessary regulatory approvals

Imagination Technologies Group PLC

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• 4-traders: Imagination Technologies has completed the acquisition of the operating business and certain patent properties of MIPS Technologies as well as license rights to all of the remaining patent properties

Royal Dutch Shell Plc

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• Reuters: Shell said it would alter its terms of SUKO 90, one of the important components of the North Sea Brent market, which govern how forward BFOE (Brent, Forties, Oseberg and Ekofisk) cargoes are traded
• Rigzone: Shell is to sign an agreement next week with Turkish state-owned energy company TPAO covering oil exploration in the western Black Sea region
• AME Info: Middle East Trading, a company under Al Jaber Group, has signed a distribution agreement with Shell Middle East for a second term to distribute Shell lubricants in Abu Dhabi, Al Ain, and the Western region

Shire PLC

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• Philly.com: Shire will pay $48 million to Impax Laboratories to settle litigation between the two drugmakers over delivery of generic Adderall XR