Labour manifesto rejects capitalism April 12, 2010 THERE was a time when manifestos were serious, thoughtful pieces of work, the fruit of lengthy policy debates within political parties. Those days are not just long gone but completely forgotten, at least if yesterday’s manifesto from the Labour Party is any guide. Many of its claims collapse as soon as one looks at them [...]
Takeover Panel’s Hingley joins top ranks at Lazard April 15, 2010 VETERAN investment banker Robert Hingley is set to take up a coveted role at Lazard, one of the world’s biggest M&A advisory firms, just a few months after completing his stint at the helm of the Takeover Panel. Hingley, 49, joins Lazard as a managing director in the financial advisory business and will lead the [...]
Harrods’ reputation lifted by Al Fayed’s sale May 18, 2010 YOUGOV’S BrandIndex has seen Harrods’ “buzz” score climb dramatically since Mohammed Al Fayed, the shop’s owner since 1985, sold the Knightsbridge shop for £1.5bn ($2.3bn) to the Qatari royal family’s investment company, Qatar Holdings. BrandIndex’s “buzz” score is calculated by taking the number of respondents who have heard something positive about a brand in the [...]
Kraft under pressure to hike its bid for Cadbury November 4, 2009 KRAFT may be forced to cough up more cash in its bid for confectionary group Cadbury after an underwhelming set of third quarter results – which analysts say make its share option element of the offer less attractive. Kraft’s figures disappointed industry observers after it posted a modest 0.5 per cent like-for-like growth which paled [...]
IRENE’S SWEET PICKINGS March 30, 2010 KRAFT Foods chief executive Irene Rosenfeld, who led the successful takeover of Cadbury earlier this year, saw her pay package rise by 41 per cent to $26.3m (£17.4m). Her pay partly reflected her role in leading the bid which transformed the group’s portfolio creating the world’s largest confectioner.
Populist reaction to BP is dangerous June 9, 2010 THERE is much that is ugly about the BP fiasco. It goes without saying that the firm hasn’t covered itself in glory, that Tony Hayward, its CEO, has suffered from foot in mouth disease and that parts of the US coast are reeling from an en environmental catastrophe. I’ve criticised BP in the past and [...]
Kraft to watch Cadbury results October 11, 2009 Chocolate maker Cadbury’s trading update next week will be vital to it fighting off a takeover approach from US giant Kraft. The week after Kraft will report its own results, allowing investors to number crunch the bid offer. Analysts have speculated that chocolate sales could fall below guidance at Cadbury. The Takeover Panel has given [...]
Cadbury gets upper hand in Kraft battle October 21, 2009 CONFECTIONARY giant Cadbury yesterday released a stellar set of third quarter results as it desperately tries to fend off a hostile takeover approach from America’s Kraft. Cadbury said its revenues grew by seven per cent in constant currency terms, beating expectations and putting pressure on Kraft to come up with a bigger offer to get [...]
Cadbury gets upper hand in Kraft battle October 21, 2009 CONFECTIONARY giant Cadbury yesterday released a stellar set of third quarter results as it desperately tries to fend off a hostile takeover approach from America’s Kraft. Cadbury said its revenues grew by seven per cent in constant currency terms, beating expectations and putting pressure on Kraft to come up with a bigger offer to get [...]
National Grid unveils £3bn rights issue May 20, 2010 UTILITIES giant National Grid yesterday shocked the market by revealing plans to tap investors for £3.2bn to keep up with investment demands in a rapidly-changing energy landscape. The firm will issue 2 new shares per 5 existing shares, at a price of 335p – a 43.7 per cent discount to Wednesday’s closing price. Shares in [...]