Burger King to leave US in $20bn tax inversion deal August 25, 2014 Burger King is in talks to combine with Canadian coffee and doughnut chain Tim Hortons in a deal that would create a fast food empire with a market valuation of over $20bn (£12bn). The companies confirmed they had entered merger talks late on Sunday, and said the new merged group would be based in Canada, [...]
Burger King tax row hits Warren Buffett after Tim Hortons takeover announcement August 26, 2014 Burger King and US tycoon Warren Buffett were forced to defend a £7bn (£4.25bn) takeover of Canadian chain Tim Hortons yesterday amid mounting political tension in America over tax inversions. The Miami-based giant said it would buy the coffee and doughnut chain for $11.4bn and relocate to Ontario, Canada – seemingly to benefit from [...]
New York Report: Dow suffers a triple-digit fall on Iraq fears June 24, 2014 US STOCKS had their biggest fall in over a month yesterday as early enthusiasm from economic data faded and concerns about the violence in Iraq gave investors a reason to sell and book some profits. The Dow Jones industrial average fell 119.13 points or 0.7 per cent, to end at 16,818.13 – its biggest drop [...]
Simon Fraser is fighting for hearts and minds at the Investor Forum July 2, 2014 Does someone at the new body set up to promote investor long-termism have a bizarre sense of humour? That was one interpretation of yesterday’s confirmation that Simon Fraser, former global chief investment officer of Fidelity, would be its first chairman. After all, Fraser was until recently a board member at the bete [...]
What you need to know before the US open March 25, 2014 US markets are expected slightly higher today, although concerns remain when it comes to ongoing geopolitical issues. Indices fell yesterday, although the selloff was concentrated in the Nasdaq. G7 leaders have threatened Russia with further sanctions if Vladimir Putin continues to destabilise Ukraine, following the seizure of Crimea. That said, Russian markets have steadied today, [...]
Walgreens to raise curtain on partnership with Alliance Boots February 11, 2013 US pharmacy giant Walgreens and Alliance Boots are to meet with investors and analysts in the City tomorrow to update on the progress of its merger that will see the creation the world’s largest pharmacy group. The meeting, which will be followed by a site visit to Boots’ headquarters in Nottingham, led to speculation this [...]
Boots boss Alex Gourlay to move across the pond August 14, 2013 ALLIANCE Boots’ health and beauty boss Alex Gourlay has been promoted to lead a similar division at its larger American partner Walgreens, as the two companies move closer towards a merger. Gourlay will join Walgreens as executive vice president and president of customer experience and Daily Living, starting at its Chicago headquarters in October, the [...]
Parcels deliver Royal Mail’s future September 24, 2013 THE PRIVATISATION of Royal Mail started to become a likely event in May this year after the restructured group posted profits of £403m, up from £152m the previous year. “When we saw that profit margins had gone from around one per cent to 4.4 per cent we realised that the time was right to act,” [...]
Alliance Boots buying stake in Chinese firm September 16, 2012 ALLIANCE Boots, the owner of Europe’s largest pharmacy chain, announced yesterday it will buy a 12 per cent stake in China’s Nanjing Pharmaceutical at a cost of around £56m. The deal, initially announced more than a year ago, will strengthen Alliance Boots’ ties with China’s government and regulators. Alliance Boots executive chairman Stefano Pessina, who [...]
Alliance Boots buying stake in Chinese firm September 16, 2012 ALLIANCE Boots, the owner of Europe’s largest pharmacy chain, announced yesterday it will buy a 12 per cent stake in China’s Nanjing Pharmaceutical at a cost of around £56m. The deal, initially announced more than a year ago, will strengthen Alliance Boots’ ties with China’s government and regulators. Alliance Boots executive chairman Stefano Pessina, who [...]