Bottom Line: Suntory pays high price for global plans September 9, 2013 PUMPED up on sugary soft drinks, it didn’t take the Glaxo and Suntory execs long to seal a deal. Though everyone from AG Barr to private equity houses Blackstone to Permira was touted as a potential buyer, the Japanese group emerged as the front runner early on and stood its ground. Yesterday’s price – well [...]
Before the open – 18/07 July 18, 2013 Chinese shares fell last night amid ongoing concerns that the government will extend property curbs and reduce the finance available to developers continued to weigh on Chinese markets. However, sentiment was boosted somewhat by US Federal Reserve chairman Ben Bernanke’s comments yesterday indicated he will remain dovish on monetary policy and that asset purchases “are [...]
Thomson Local bought out of administration August 22, 2013 DIRECTORY services brand Thomson Local was bought out of administration by two serial entrepreneurs yesterday. Thomson Local, which sends out 22m copies of its UK business directory and maintains several websites, appointed Grant Thornton as administrator on Wednesday, following several tough years. The Hampshire-based firm posted a net loss of £732,000 for 2011, down from [...]
Before the open – 15/08 August 15, 2013 The Nikkei dropped sharply last night after finance minister Taro Aso denied prime minister Shinzo Abe was not considering a corporate tax cut – as the Nikkei newspaper had previously reported on Tuesday. Many have said such a tax cut would be a huge shot in the arm for Japan, which is languishing under huge [...]
London Report: UK’s corporate calendar packed in results season July 28, 2013 THE CORPORATE calendar is packed this week, as businesses including ITV, BP, Lloyds, Barclays and Royal Bank of Scotland update the market amid a swathe of other results. The week begins with figures from Fidessa Group, Hammerson, InterContinental Hotels Group, Intertek Group, JKX Oil & Gas, Keller Group, Senior, Vernalis, Reckitt Benckiser Group, National Grid, [...]
Why capital rules could limit the impact of new competition in banking September 9, 2013 THE NEW TSB bank was finally launched yesterday. The spin-off of 631 branches and 4.6m customers from Lloyds means that the UK now has the first new major competitor to the existing banks since the start of the financial crisis. And when RBS spins off 315 of its branches, Britain will have a further mid-size [...]
Thomson Local bought out of administration August 15, 2013 DIRECTORY services brand Thomson Local was bought out of administration by two serial entrepreneurs yesterday. Thomson Local, which sends out 22m copies of its UK business directory and maintains several websites, appointed Grant Thornton as administrator on Wednesday, following several tough years. The Hampshire-based firm posted a net loss of £732,000 for 2011, [...]
London Report: China trade data surprise breaks FTSE’s losing run August 8, 2013 THE FTSE 100 benchmark equity index broke a four-day losing streak yesterday as forecast-beating trade data from China, the world’s biggest metals consumer, lifted mining stocks. China’s exports and imports both rose more than expected in July, in a tentative sign of economic recovery. The basic materials sector added 12 points to Britain’s FTSE 100, [...]
Soaring services sector drives business activity to record high August 5, 2013 HOPES that the recovery is picking up steam were lifted further yesterday, after the UK’s businesses reported the strongest month of growth since records began. Markit’s surveys of the services, manufacturing and construction sectors in July got the most positive responses ever, bolstering recent signs that the economy is returning to sustained expansion. The unparalleled [...]
Before the open – 17/07 July 17, 2013 Chinese shares fell last night for the first time in three days as real estate developers like China Vanke and Poly Real Estate Group plummeted over concerns the government will extend property curbs. News that foreign direct investment in China rose by 20 per cent in June – exceeding analyst expectations of a 0.7 per [...]