PepsiCo eyes Russia for growth December 2, 2010 PEPSICO said yesterday it will buy a majority stake in Russian juice and dairy company Wimm-Bill-Dann (WBD) for an initial deal price of $3.8bn (£2.43bn) in its most ambitious overseas purchase to date. The deal will make PepsiCo Russia’s largest food and drink maker. PepsiCo plans to buy 66 per cent of the firm. However, [...]
Coca-Cola Enterprises is boosted by strong sales October 28, 2010 COCA-COLA Enterprises posted higher-than-expected quarterly earnings and gave an encouraging full-year forecast yesterday. The soft drink bottler, which earlier this month became a company that operates solely in Europe, said it expects 2010 earnings of $1.74 to $1.78 per share. Analysts’ average estimate was $1.75 per share, according to Thomson Reuters. The results did not [...]
Freud Communications profit soars October 8, 2010 Freud Communications bucked the recession with a 28 per cent increase in pre-tax profits to £6.7m last year. Annual accounts for the PR agency, which is majority-owned by French advertising giant Publicis Groupe, show revenues rose 23 per cent to £33 million. It is understood that significant growth at teh firm run by Matthew Freud, [...]
Rosenfeld is second on power list October 7, 2010 KRAFT chief executive Irene Rosenfeld is the second most powerful woman in the world, outranked only by American First Lady Michelle Obama, according to Forbes magazine. Rosenfeld moves four places up the power rankings from last year’s Forbes list in the wake of Kraft’s £11.5bn play for chocolate maker Cadbury earlier this year. German chancellor [...]
Investors hold off ahead of Fed report October 7, 2010 WEAK commodities and a firmer dollar pressured US stocks yesterday as investors shunned big bets before a jobs report that could determine the next move from the Fed. The Dow Jones industrial average dipped 19.07 points, or 0.17 per cent, to 10,948.58. The Standard & Poor’s 500 Index eased 1.91 points, or 0.16 per cent, [...]
Investors hold off ahead of Fed report October 7, 2010 WEAK commodities and a firmer dollar pressured US stocks yesterday as investors shunned big bets before a jobs report that could determine the next move from the Fed. The Dow Jones industrial average dipped 19.07 points, or 0.17 per cent, to 10,948.58. The Standard & Poor’s 500 Index eased 1.91 points, or 0.16 per cent, [...]
Chinese set to eat up United Biscuits deal September 26, 2010 MCVITIES manufacturer, United Biscuits (UB) is in talks with one of China’s largest food groups about a possible takeover that could value the British company at almost £2.5bn. The Shanghai-based foods group Bright Food yesterday confirmed that it was in talks with UB to pen a deal that would potentially hand the Chinese group a [...]
For accountants, qualifications are a matter of taste September 22, 2010 WHEN they get their first job, many accountants worry that they will be pigeon-holed by their qualification. ACA is seen as the City gold standard in some quarters, and those who aren’t offered it might worry that their ambition of becoming a FTSE 100 CEO will be thwarted. On the other hand, ACCA is a [...]
ANALYST OF THE YEAR | The Shortlist day 4 September 2, 2010 ANALYSTS are the heart and soul of the City, and the five on our list are legends in their own sectors. Whether it is looking at the future of the energy industry, pontificating on the biggest M&As, or just looking at the movements of the markets in general, when the members of our shortlist talk, [...]
Campbell’s eyes United Biscuits deal August 22, 2010 CAMPBELL’S, the American maker of tinned soup and pasta sauces, has emerged as a potential bidder for part of United Biscuits (UB), the manufacturer of Jaffa Cakes. Campbell’s has hired Centerview Partners to look at UB’s biscuits division, which includes the McVitie’s and Jacob’s brands and could be worth up to £1.5bn. The US food [...]