Kraft hit by Cadbury and commodities February 10, 2011 KRAFT FOODS saw its quarterly income drop 24 per cent on last year as the cost of taking over UK confectioner Cadbury began to bite. Net income at the owner of Oreo cookies and Philadelphia cheese fell to $540m (£335.5m) from $710m a year ago, in part due to costs linked to Cadbury and to [...]
Plans for a ringfence will hit recovery August 21, 2011 THE UK’s £2.5 trillion bank lending market will shrink and more pressure will be piled on small businesses if the government ringfences investment banking operations from retail arms, it has been warned. The Association of Corporate Treasurers (ACT), which represents finance directors and treasurers from the FTSE 100 and elsewhere, yesterday said the nation’s economic [...]
Telefonica to create a new hub in the UK September 5, 2011 O2 owner Telefonica will create a new hub in London as it shifts the focus of its business away from stricken Spain. The creation of a new digital business will spark an inflow of jobs into the capital as the telecoms giant scrabbles to lessen its exposure to the Spanish economy and give greater weight [...]
Telefonica to create a new hub in the UK September 5, 2011 O2 owner Telefonica will create a new hub in London as it shifts the focus of its business away from stricken Spain. The creation of a new digital business will spark an inflow of jobs into the capital as the telecoms giant scrabbles to lessen its exposure to the Spanish economy and give greater weight [...]
Kraft profit hit by Cadbury takeover costs February 11, 2011 Kraft Foods, which took over Cadbury last year, has reported a fall in quarterly profits. The takeover saw sales rise by 30 per cent but net profit fell 24 per cent to $540m (£335m) as the cost of integrating the businesses took its toll. Kraft also warned that it would be increasing prices to offset [...]
Kraft profit hit by Cadbury takeover costs February 11, 2011 Kraft Foods, which took over Cadbury last year, has reported a fall in quarterly profits. The takeover saw sales rise by 30 per cent but net profit fell 24 per cent to $540m (£335m) as the cost of integrating the businesses took its toll. Kraft also warned that it would be increasing prices to offset [...]
Britain’s Sage loses out to US firm in race for Australian IT company August 21, 2011 BRITAIN’S Sage has lost out in the race to buy Australian software firm MYOB, after it was beaten by a US private equity house. Bain Capital has agreed to purchase the accounting software company for about $1.3bn (£790m), trumping both Sage and private equity outfit Kohlberg Kravis Roberts. Sage was forced to abandon its bid [...]
Britain’s Sage loses out to US firm in race for Australian IT company August 21, 2011 BRITAIN’S Sage has lost out in the race to buy Australian software firm MYOB, after it was beaten by a US private equity house. Bain Capital has agreed to purchase the accounting software company for about $1.3bn (£790m), trumping both Sage and private equity outfit Kohlberg Kravis Roberts. Sage was forced to abandon its bid [...]
Mitchells & Butlers turns down new bid September 13, 2011 MITCHELLS & Butlers shareholder Standard Life Investments yesterday branded Piedmont’s 230p per share possible offer “insulting” and accused it of destabilising the company, as the firm rejected the approach. David Cummings, SLI’s head of UK equities, lashed out at Piedmont owner Joe Lewis, claiming his attempt to buy the pub group outright was “wholly unsatisfactory”. [...]
Kraft adviser to quit Lazard July 6, 2011 A KEY financial adviser to US food giant Kraft in its takeover of British chocolate maker Cadbury is to step down from his position at investment bank Lazard. Peter Kiernan, a managing director in the bank’s mergers and acquisitions team in London, is understood to be tendering his resignation. He is expected to leave later [...]