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City drops the ball as Persimmon narrowly wins AGM pay vote despite uproar over CEO's £100m

The advisory vote won the support of 51.5 per cent of investors, but there were an unusually high number of abstentions
Just how absurd does a CEO’s package have to get for shareholders to vote against the remuneration report of the company that employs them?
It’s fair to ask that question in the wake of the furore over Persimmon Homes handing a bonus worth more than £100m to CEO Jeff Fairburn.
The advisory vote on the company’s pay report at its York AGM was a close run thing, but in the end the builder won the day with 51.5 per cent voting in favour, 48.5 per cent opposed.
Read more Persimmon execs give up part of obscene bonuses: It's a empty gesture Help to Buy, Persimmon Homes profits and why our columnist is outraged Persimmon expects 2017 profits to beat market expectations There were an unusually high number of abstentions, which is what the more gutless among the City’s big investors like to do when they want to “send a message”.
For the record the votes withhe..

Twitter Stays on an Upswing, With Second Straight Quarter of Profit

Twitter Stays on an Upswing, With Second Straight Quarter of Profit
When Twitter posted its first quarterly profit a few months ago, many wondered if the result was a one-off or a repeatable feat.
The social media company answered on Wednesday with its latest quarterly earnings that showed it was still on an upswing.
For the first quarter, Twitter reported a profit of $61 million and said revenue rose 21 percent to $665 million. User numbers rose slightly to 336 million per month.
The results surpassed the expectations of financial analysts, and show that even as regulators worldwide turn a more skeptical eye toward social media companies like Twitter and Facebook over privacy concerns and for not doing enough to prevent the spread of misinformation and hate speech, their core advertising-driven businesses are in good shape.

Twitter’s stock has more than doubled in value in the past 12 months as the company has undergone a perception shift on Wall Street. While Twitter once struggled..

Twitter says its user numbers are growing as it hails progress in safety and quality of content

Social network beat expectations with revenue growth
Twitter grew revenues and daily user numbers in the first quarter of 2018, the social media firm said on Wednesday.
The group reported revenue was up 21 per cent compared to the first three months of 2017, to $665m (£477m), with advertising revenue also rising by 21 per cent to $575m.
US revenue grew by 2 per cent to $347m, while international revenue rose 53 per cent to $318m.
Read more Twitter announces new privacy policy ahead of European data law Twitter said its increased revenue reflected “better than-expected growth across all major products and geographies”.
The group swung to a net profit of $61m, or 8 cents per share, in the first quarter, from a loss of $61.6m, or 9 cents per share, a year earlier
Daily active user numbers increased by 10 per cent compared to the first quarter of last year, and were up 12 per cent against the previous quarter.
Shares in the group jumped 12 per cent in pre-market trading as the..

Comcast makes rival £22bn bid for Sky, threatening Rupert Murdoch's offer

US Media giant Comcast has made a £22bn bid for Sky that threatens to scupper a rival offer from Rupert Murdoch's 21st Century Fox.
The £12.50 per share offer sent Sky's stock up 3 per cent on Wednesday.
Comcast owns NBC and Universal Pictures among a host of other businesses.
Read more Sky: Now Fox offers 'legal separation' of Sky News In December 2016, Fox agreed to buy the 61 per cent of Sky that it does not already own but that takeover has been held up by a slew of regulatory concerns.
“We are delighted to be formalising our offer for Sky today,” Comcast chief executive Brian Roberts said.
“We have long believed Sky is an outstanding company and a great fit with Comcast. Sky has a strong business, excellent customer loyalty, and a valued brand. It is led by a terrific management team who we look forward to working with to build and grow this business.”
Comcast, which also owns DreamWorks Animation and channels such as MSNBC, CNBC and The Weather Channe..

TSB customers still locked out of accounts despite CEO claiming online banking 'up and running'

IT chaos enters sixth day with customers still not able to log in to view and others saying details have disappeared
TSB customers were still locked out of their online accounts on Wednesday, despite the bank’s chief executive claiming systems were “up an running”, as IT chaos entered its sixth day.
Customers who logged into TSB’s app or online banking were faced with a screen stating that the bank was limiting the number of users accessing the service. Others were able to log in but, when they did, some or all of their account details had disappeared.
Customers have also reported that they could access other people’s accounts, including account numbers, sort codes and transaction histories.
Read more TSB apology after customers complain of online banking 'data breach' ​TSB could not say how many people were still locked out of the service or when the problems would be fully resolved.
The ongoing IT disaster began with botched upgrade work on Friday but has developed ..

Whitbread: Please make a fuss next time you opt for a break up like the one you're planning with Costa Coffee

We in the City could do with the work. Second and third homes don't pay for themselves you know!
Dear Alison Brittain, Adam Crozier and the other members of the Whitbread board,
First, congratulations on the decision to spin off Costa Coffee into a separate company, and on your latest results which no one will pay any attention to as a result.
We love the idea, because it will generate a lot of work for us and right now any work is welcome.
Read more Costa to be split from Premier Inn within two years, owner confirms Coffee cups: major chains fail to match Costa’s recycling targets Costa launches ‘chatter and natter’ tables to help combat loneliness As we’re sure you're only too well aware, the government has been seized by a bunch of lunatics and they seem hell bent on kicking us in the guts with the way they’re going about cutting the country off from Europe, the biggest market for its goods and services.
Or course, you have a supply chain to worry about, so you’..