China’s Wanda near Sunseeker deal
A Chinese property group is close to buying Sunseeker, Britain’s largest luxury yachtmaker by sales, underscoring the growing appetite for European
luxury assets among Chinese buyers.
Dalian Wanda is expected to pay about £300m for Sunseeker, according to people with knowledge of the matter. The transaction is likely to be finalised before the end of this month. “We bought the best yacht company in the UK,” Wang Jianlin, the chairman and founder of Beijing-based Wanda, said.
Big Tobacco bets on e-cigarettes
Big tobacco in the US is raising its bet on the growth of electronic cigarettes to offset the decline of traditional smoking with Reynolds American, the maker of Camel and Pall Mall launching its first smokeless, battery-powered device.
Coulson denies message intercepting
Andy Coulson, the former head of communications for UK prime minister David Cameron, has appeared in court to deny three criminal charges connected to his time at the News of the World. His court hearing lasted around 10 minutes.
Bootle to claim biggest prize yet
One of the City’s best-known economists stands to make tens of millions of pounds after hanging a “for sale” sign over his consultancy business, Capital Economics, which reported pre-tax profits of £4.9m last year.
Chinese give firms cool reception
China used its position as the host of a high-profile business forum to launch a surprise attack yesterday on the “double standards” of western companies operating in the country.
The Daily Telegraph
Mondelez chocolate doesn’t melt
Mondelez International, which makes Oreo cookies, has spent at least 10 years on research and is close to introducing the new snacks, according to Lawrence MacDougall, the company’s president for eastern Europe, Middle East and Africa.
Heathrow looks to south-west
Heathrow Airport is said to be changing its plans for a third runway and considering building a one to the south-west of its site, rather than the north.
THE WALL STREET JOURNAL
Criminal Charges in Libor Case
US and British authorities are preparing to bring criminal charges against former employees of Barclays for their alleged roles trying to manipulate benchmark interest rates.
Airbus Nears First A350 Flight
Airbus aims to fly its new A350 jetliner for the first time in coming days, a milestone in achieving the company's target of getting the aircraft approved and into service next year.