Uber boss Travis Kalanick says IPO is not on the near-term agenda March 28, 2016 Uber's chief executive Travis Kalanick has stated there are no plans to float the company on the stock market in the near future. The ride-hailing app firm's boss and co-founder told CNBC that he is "going to make sure [an IPO] happens as late as possible", adding that a flotation is definitely not going to happen [...]
Storm Katie keeps shoppers away from UK high street as footfall drops over Easter bank holiday March 28, 2016 Retail footfall across UK high streets, retail parks and shopping centres has dropped by as much as 10.5 per cent today as Storm Katie battered the UK and put people off venturing outside. The number of visitors to shopping centres and high streets fell by 16 per cent and 11.5 per cent respectively, according to retail analysts Springboard, [...]
Battle for Starwood Hotels & Resorts heats up after China’s Anbang outbids Marriott with $14bn offer March 28, 2016 Starwood Hotels & Resorts Worldwide said it has received a higher $14bn offer from a consortium led by China's Anbang Insurance, in a move that could scupper Marriott International's proposed merger with the hotel group. The US-listed company behind brands including W Hotels, Le Meridien and Sheraton, said that the Anbang group, which includes private equity firms JC Flowers and Primavera Capita, [...]
Revlon’s share price plunges as the make-up brand announces Colgate veteran as new chief executive March 28, 2016 Beauty products group Revlon is getting a makeover after announcing it has hired former Colgate-Palmolive executive Fabian T. Garcia as its new president and chief executive. Revlon has been on the hunt for a new boss after Lorenzo Delpani stepped down at the beginning of March, citing personal reasons. The company, which sells hair care treatments as well [...]
Cosmetics group Avon Products calls a truce with activist investor Barington Capital March 28, 2016 Avon Products, the door-to-door cosmetics giant, said it has reached a peace deal with Barington Capital, allowing the activist shareholder to appoint an independent director to the board. Under the terms of the agreement, a Barington board member will have to be selected jointly by Avon and its top shareholder Cerberus Capital Management, which bought a majority stake [...]
Soaring Madagascan vanilla price threatening to increase cost of ice creams March 26, 2016 Consumers may have noticed the price of their Easter eggs going up this year thanks to increasing sugar and chocolate prices. And now for some more bad news. The soaring cost of vanilla could push up the price of your ice cream this summer. Read more: Why your easter egg is more expensive this year Following a [...]
US company McCormick “disappointed” with conduct of the board of Mr Kipling owner Premier Foods – but could improve takeover offer March 25, 2016 McCormick has said it is “disappointed” with the way the board of UK rival Premier Foods, owner of Mr Kipling, is “conducting itself”. But the US firm, known for its spice brands such as Schwartz, has said it could be willing to improve its offer for the company. Premier this week rejected a second takeover [...]
Google fined €100,000 in France for failing to “effectively uphold” the right to be forgotten March 24, 2016 Google has been fined €100,000 (£79,000) by the French data protection authority. The fine has been made in relation to the so-called right to be forgotten law. The Commission Nationale de l'Informatique et des Libertes (CNIL) said Google had not fully upheld the right because its scrubbing of results does not extend far enough. Read more: Why the right to [...]
Chocolate prices, sugar prices and El Niño: Why your easter egg is more expensive this year March 24, 2016 The Easter bunny will be feeling additional pressure on its margins this year, thanks to a jump in the cost of its most popular confectionery. The price of milk chocolate is 10 per cent higher this Easter compared to last year, according to commodities intelligence service Mintec. "Global demand for cocoa is expected to exceed production, leading [...]
Premier Foods share price dips after Japanese instant noodle maker Nissin agrees to buy 17 per cent stake in Mr Kipling owner March 24, 2016 Japanese instant noodle maker Nissin Foods has agreed to buy a 17.27 per cent stake in Mr Kipling owner Premier Foods from US private equity firm Warburg Pincus. The deal has been announced the day after Premier rejected a second takeover approach from US rival McCormick. The share price of Premier fell slightly today after jumping [...]