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Citywire Top Stocks Daily News Digest

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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  • The Independent: Barclays is planning to offshore hundreds of roles at its troubled investment banking unit to India in a bid to cut costs, The Independent has learnt
  • Financial Times: Barclays is cutting up to 2,000 jobs in its investment bank as part of a strategic overhaul by the bank’s chief executive Antony Jenkins
  • BBC: Andrew Tinney, chief operating officer of Barclays’ wealth management division has left the firm amid allegations he attempted to suppress an unflattering report into practices at the unit

BG Group PLC

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  • Financial News: BG Group, with a current market capitalisation of $60 billion, could become a takeover target for big oil firms, following a decline in its valuation by half in less than two years

BP PLC

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  • Bloomberg: Argentina’s Planning Minister Julio de Vido has called the meeting of oil executives from BP’s Argentine unit and Chubut provincial authorities to resolve a dispute and avert a strike at the company’s largest crude field
  • Forbes: BP has been named as a Top 25 ”Dividend Giant” by ETF Channel, with a whopping $1.68 billion worth of stock held by ETFs

Diageo PLC

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  • Economic Times: Diageo has indicated that the deal with India’s United Spirits is on track and there are no major hurdles with the regulator with respect to the offer price
  • Morning Advertiser: Diageo is launching a new £5.5 million TV campaign for Guinness

First Quantum Minerals PLC

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  • Financial Times: Inmet’s board has rejected a hostile takeover approach from First Quantum arguing the $5.13 billion offer is “financially inadequate”
  • Stockhouse: First Quantum Minerals on Tuesday announced a 26% increase in copper production in the fourth quarter and a 16% rise for the year ended 31 December

GlaxoSmithKline PLC

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  • Seeking Alpha: GlaxoSmithKline's Pandemrix H1N1 swine flu vaccine, which was given to over 30 million people in 47 countries during the 2009-2010 H1N1 swine flu pandemic, has been linked with hundreds of cases of the incurable sleep disorder narcolepsy in Europe
  • Daily Political: Exane BNP Paribas has reiterated “underperform” rating on GlaxoSmithKline’s stock

HSBC Holdings PLC

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  • Bloomberg: HSBC Holdings’s Swiss private bank sold the last office it owns in Geneva for $116 million after cutting jobs in the Alpine country

Lloyds Group PLC

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  • The Guardian: HMV could be saved after restructuring firm Hilco took over the retailer's debts from its lenders Lloyds and Royal Bank of Scotland

Rolls-Royce Holdings PLC

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  • The Daily Telegraph: Rolls-Royce is to cut almost 400 jobs at its Ansty site near Coventry, in a blow to the local workforce, a union has claimed

Royal Dutch Shell Plc

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  • MarketWatch: Shell, a major supplier of lubricants in China, said that it opened the company's largest grease plant in China

Tate and Lyle PLC

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  • Financial Times: Tate & Lyle rose 1.5% to 812 pence, a five-year high, on Tuesday as analysts argued that its transformation into a specialist ingredients maker was still being undervalued

Taylor Wimpey PLC

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  • Staffordshire Newsletter: Taylor Wimpey has bought a piece of land to create 400 new homes in Stafford, the UK, in an £80 million deal

Tullow Oil PLC

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  • Irish Times: Tullow Oil has completed the purchase of Spring Energy, a Norwegian exploration-focused company, for $372 million
  • Equities: Tullow Oil will announce in three months the results of the geological test drills it started on 13 January on its concession in South Omo

Unilever PLC

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  • Wall Street Journal: Hindustan Unilever on Tuesday scraped past analysts' estimates with a 16% rise in its third-quarter net profit to $163 million

Virgin Media INC

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  • Broadband Choice: Growing demand for next-generation cable TV and broadband services has prompted Virgin Media to create 60 new jobs at a customer contact centre in North Lanarkshire, the UK

Xstrata PLC

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  • Reuters: South Africa's Competition Tribunal on Tuesday gave the green light to the proposed takeover of global miner Xstrata by commodities trader Glencore
  • Fox News: A team of experts from the UN on Tuesday began evaluating a proposed Xstrata nickel mine expansion in the Dominican Republic that has been halted by a court over environmental concerns

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