The 10 biggest business stories on Friday February 12

Drugs companies fined £45m by CMA for delaying cheap versions Seroxat; New homebuyers this year will already have spent £52,900 on rent

Click to follow
The Independent Online

1.    Tokyo stocks plunge again with the benchmark Nikkei index losing nearly 5 per cent as a strong yen hammered exporters, ending a tumultuous week on Japanese markets.

2.    Jamie Dimon, the JP Morgan Chase CEO, spent $26 million on 500,000 shares of the bank’s stock, to encourage other investors. The bank’s shares have lost 20 per cent of their value this year, amid a global selloff in banks. 

3.    Rolls-Royce has cut its dividend payment to shareholders for the first time in almost 25 years and warned of further job cuts to come. The final dividend payment to shareholders has been cut by 50 per cent, to 7.1p a share. Analysts had expected a 30 per cent reduction.

4.    Commerzbank shares soared by around 14 per cent in early trading on the Frankfurt stock exchange as investors welcomed the strong performance of Germany's second-biggest lender in 2015.

5.    Renault profit jumped 44 per cent last year. The French carmaker’s operating profit climbed to €2.32 billion ($2.62 billion) from €1.61 billion a year earlier, Europe’s third-biggest automaker said in a statement Friday.

6.    The Competition and Markets Authority has fined several pharmaceutical companies for anti-competitive conduct and agreements in relation to the supply of the anti-depressant drug paroxetine. The fines include £37.6 million levied on GlaxoSmithKline.

7.    Groupon, a website offering “deals to consumers, reported stronger than expected earnings. The company's stock rose almost 20 per cent after it beat revenue expectations.

8.    Companies that fail to address pay differences between male and female employees will be highlighted in new league tables under plans announced on Friday.

9.    First-time buyers in 2016 will have already spent an average £52,900 on rent.

10.  Uber, the car hailing service, agreed to pay $28.5 million to 25 million riders to settle a class-action case surrounding its safety practices advertisements.

Comments