THE DAILY BRIEFING
INDIAN SALE BP has sold another portion of its stake in its Indian subsidiary, taking its holding down to 51pc. The 8.5pc sale to international and domestic investors follows a similar offloading of 11.5pc of shares in Castrol India earlier this month.
BP said it would remain the majority shareholder in the company.
SUPPORT CONTRACT Clipper Logistics has signed a ten-year deal with The John Lewis Partnership to provide support services for the retailer. Clipper provides logistics solutions to retailers including fulfilling online orders and will deliver services from a new 500,000 square foot distribution centre in Northampton.
THREE DEAL Outsourcer Capita will provide customer management services for Three as part of a £70m deal. The contract, set to begin in 2017, will see up to 450 Capita staff take on customer service and sales adviser roles from the telecommunication company’s offices in Glasgow.
GAME ON A channel showing sports played by videogame fans is being launched by Sky and ITV in partnership with Ginx TV. GINX eSports TV will show eSports on Sky 270, responding to a growing appetite, said Sky.
SINKING FEELING SeaWorld will stop paying a quarterly dividend and instead plough the money into share buy backs. The US firm, known for its killer whale and dolphin shows, has been dealing with falling attendances and revenue as the tide of public opinion shifts against using animals for entertainment.
PLANES CUT Fastjet’s fleet of five A319 aircraft will be reduced to three and replaced by three smaller leased aircraft. The Africa-focused budget carrier, which issued three profit warnings this year, slumped to a loss of £11.5m for the six months to June 30 from the previous £4.91m profit.
SLOW SUMMER IG Group flagged a quiet summer and pre-EU referendum caution in the three months to August 31 for a fall in UK revenues. The trading firm said that turnover fell 1.8pc in the UK and Ireland to £55.4m, but rose in other territories it operates in.
ICE BREAKER Rolls-Royce will design the hull of New Zealand Defence Force’s polar exploration ship, which will be built by Hyundai Heavy Industries. The hull will withstand the challenging Antarctic environment and this is the first project for Rolls’ new naval design unit.
TAX QUEST Google is being pursued by Indonesian tax authorities for millions in alleged unpaid tax. The tech giant is the subject of a criminal investigation over five years of back taxes, and could face a bill of more than £308m for 2015 alone if it is found to have avoided payments.