PUBLISHED: 08:44 08 March 2018 | UPDATED: 08:44 08 March 2018 Aviva group chief executive Mark Wilson. Picture: Aviva Aviva Becoming a “simpler, stronger” group will allow Aviva to give more back to its shareholders this year, according to new figures. The Norwich-based insurer’s annual results show total dividends per share rose by 18% in 2017 to 27.4p – above analysts’ predictions and marking their fourth consecutive year of double digit growth. Operating profit was up 2% to £3.06bn and profit after tax doubled to £1.64bn, while operating earnings per share – derived from group operating profit – increased by 7% to 54.8p. Group chief executive Mark Wilson said the group’s “accelerated” growth had been “broad-based”, with the value of new business up 25%, general insurance premiums up 11% to £9.14m and revenue in its fund management arm up 14% to £557m. Following a programme of divestment … [Read more...] about “Simpler, stronger” Aviva is producing better returns for shareholders, group boss says
The head of New York City’s pension funds, who controls a $1 billion stake in Facebook, had a strong message for CEO Mark Zuckerberg on Tuesday: Step down as chairman of the board and appoint three new independent directors. “Data is being used without people’s permission, and that’s going to affect the brand,” New York City comptroller Scott Stringer said during an appearance on CNBC. “And that’s a brand I’ve invested close to $1 billion of people’s money in underlying their pensions.” Stringer called for Facebook to augment its existing board with three independent directors “who have experience in terms of data, in terms of ethics.” He also demanded that the company create a data privacy oversight committee and implement a clawback policy for executive compensation, as many banks have done in the wake of the 2008 financial crisis. “I am very determined to hold companies that we invest in to the highest … [Read more...] about First Apple, Now Facebook: What Happens When Tech Shareholders Turn Activist?
caption He won’t be stepping down. source Getty Head of New York City’s pension fund investments thinks Mark Zuckerberg should step down as chairman of Facebook. It’s not going to happen – Zuckerberg owns a controlling stake of Facebook stock. But the call shows the level of investor anger at Zuckerberg’s handling of the data privacy crisis. Mark Zuckerberg should step down as Facebook’s chairman, according to an official who oversees investments for New York City’s pension funds, which hold an approximately $1 billion (£710 million) stake in Facebook. Scott Stringer, New York City’s comptroller, called for an overhaul of Facebook’s board after the Cambridge Analytica scandal. He made the comments to CNBC and we first saw the news via The Financial Times. Stringer has called for an independent chairman to replace Zuckerberg, plus three new … [Read more...] about Mark Zuckerberg should quit as Facebook chairman, according to shareholder with a $1 billion stake
source Joe Skipper / Reuters Tesla shareholders scored a small victory in their lawsuit against CEO Elon Musk and Tesla’s board on Wednesday. A judge refused to dismiss a lawsuit stemming from the electric-car maker’s 2016 acquisition of the energy company, SolarCity, allowing the case to move forward. Shareholders in the class-action claim are accusing Musk and the board of failing to act in their best interest in connection with the $2.6 billion SolarCity deal. A judge refused to dismiss Tesla shareholders’ claim that CEO Elon Musk and Tesla’s board of directors acted improperly amid the electric-car company’s acquisition of SolarCity. The judge’s ruling on Wednesday effectively allows the class-action suit to move forward. In the claim, shareholders point to Tesla’s $2.6 billion, all-stock deal to absorb SolarCity in late 2016, a move that happened while … [Read more...] about Judge refuses to dismiss a shareholder class-action suit against Elon Musk and Tesla’s board
This weekend Omaha, Nebraska will be flooded with people for what is locally known as “Berkshire Weekend,” when Warren Buffett hosts his Berkshire Hathaway shareholders at the company’s headquarters. Since Buffett is “The Oracle of Omaha” this party is a blowout — We’re talking country fair, smorgasbord, extravaganza with a value investing twist. To attend, you must be a Berkshire shareholder (or a journalist). They come in droves, filling the massive CenturyLink centre Arena to hear Buffett’s wisdom, suck on Dilly bars, play bridge, and eat steak. Business Insider reached out to some people who have attended the meeting in years past to get an idea of what it’s like, and more importantly, to get a sense of who makes the pilgrimage out to this mid-western Mecca. A 2011 Shareholder Meeting attendee broke it down for us. He said there are three kinds of people that go to Warren Buffett’s Americana extravaganza, we dug up a … [Read more...] about The Four Types Of People You’ll Meet At Berkshire Hathaway’s Annual Shareholder Meeting