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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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  • Bloomberg: Barclays’s investment-banking business plans to eliminate 275 jobs at three New York City locations in May, according to a filing with state regulators
  • Reuters: Barclays is nearing the completion of a raft of job cuts at its investment bank as part of its new chief executive's plan to streamline operations and cut costs, a person familiar with the matter said on Wednesday

BP PLC

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  • Bloomberg: BP’s Pentagon contracts have more than doubled to $2.51 billion since the year of the Gulf of Mexico oil spill, the biggest in U.S. history

BT Group PLC

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  • The Daily Telegraph: The days of "cold calls" from salesmen could be numbered, as BT has launched a new handset which automatically blocks nuisance calls

GlaxoSmithKline PLC

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  • France 24: GlaxoSmithKline on Wednesday announced a 13% drop in annual profits to $7.153 billion
  • The Daily Telegraph: Sir Andrew Witty, chief executive of GlaxoSmithKline, announced a "strategic review" of iconic brands Lucozade and Ribena

HSBC Holdings PLC

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  • Reuters: HSBC was forced into its biggest restructuring in almost 150 years because the bank's complex structure and wide geographical spread had made it attractive to criminals, its chief executive Stuart Gulliver said
  • Herald Online: Fitch Ratings says HSBC’s decision to inject $500 million into its Mexican subsidiary would strengthen HSBC Mexico's capital position and place the bank in a better position to continue growing

Legal and General Group PLC

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  • Bloomberg: UK and European regulators are hindering economic growth through “regulatory austerity,” according to Legal & General Group, the biggest investor in the British stock market

Premier Oil PLC

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  • Far News Agency: Argentina will continue legal action against energy firms working off the disputed, British-controlled Falkland Islands, including Premier Oil, Argentine Foreign Minister Hector Timerman said

Rolls-Royce Holdings PLC

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  • Jags Report: Jefferies Group reiterated their buy rating on shares of Rolls-Royce Holdings as it fixed a $14.87 price target on the stock

Royal Dutch Shell Plc

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  • Offshore: Shell UK has awarded Technip an engineering, procurement, installation, and construction contract for the Gannet F reinstatement project in the UK central North Sea

Unilever PLC

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  • Guardian: Unilever has pledged to improve operations after Oxfam uncovered wage and union problems at its Vietnam factory

Virgin Media INC

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  • Financial Times: Virgin Media is planning to issue one of the world’s largest junk bonds since the end of the financial crisis to help fund its $23.3billion acquisition by John Malone’s Liberty Global
  • Daily Mail: Liberty Global is paying for Virgin Media one third in cash and two thirds in shares, meaning Sir Richard Branson will scoop £67 million in cash and take shares in the merged company worth nearly £135 million.
  • The Daily Telegraph: More than 4,000 staff at Virgin Media will share in a major windfall after the company's sale to US cable television giant Liberty Global, including boss Neil Berkett who will take more than $65 million off the table
  • The Guardian: John Malone's takeover of Virgin Media will create a $28billion company headquartered in Britain, but the world's largest cable group by customers will pay no UK tax for the foreseeable future

Vodafone Group PLC

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  • Computer Active: The Advertising Standards Authority has rapped Vodafone over the knuckles for a "misleading" ad about the mobile provider's fixed contract SIM only price plans

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