Megabrew deal back on? SABMiller share price rises as AB InBev increases bid to £42.15 per share October 7, 2015 AB InBev is not giving up on its desire to "build the first truly global beer company" by increasing its offer for rival SABMiller to £42.15 per share. SABMiller's share price rose three per cent on the news. Previous bid offers from the Belgian company were previously rejected by SABMiller, including yesterday's £40 per share [...]
London IPOs fell sharply in the third quarter as election nerves hit markets October 7, 2015 The number of initial public offerings (IPOs) fell sharply in the third quarter as uncertainty in the run-up to the General Election in May prompted many businesses to shelve plans until later in the year. Only six flotations raising £184m took place in London over the past three months, including hostel owner Safestay, which [...]
2015 Shonky awards: Samsung and Ikea have the shoddiest products, according to consumer group Choice October 7, 2015 Big name brands Coca-Cola, Ikea and Samsung have walked away with a new award – but it might not be one they boast about to their customers. The 2015 Shonky Awards go to companies "that have flouted consumer protection laws, sold products that were faulty by design, and shown blatant disregard for consumer safety", according to [...]
VW emissions scandal: Recalls expected to start in January 2016 and complete by year-end October 7, 2015 New Volkswagen boss Matthias Mueller expects the company to start recalling cars involved in the emissions scandal at the start of next year. Last month, it was revealed that millions of the German company's diesel vehicles were fitted with technology that allowed them to cheat in emissions tests. An estimated 11m cars worldwide are [...]
How to find out if your Volkswagen car is affected by the emissions cheating scandal: VW creates dedicated web page for car owners October 7, 2015 Having announced plans to begin recalling cars involved in the emissions scandal at the beginning of 2016, including 1.2m in the UK, Volkswagen has set up a dedicated website to allow customers to check if their car was rigged with its emissions cheating device. Customers must enter their vehicle identification number (VIN) and the website will [...]
The Docklands, Stratford and east City fringe are the last three areas in central London with office space under £40 per sq ft October 7, 2015 Companies hoping to fork out less than £40 per square feet for offices in central London may be disappointed, after new research shows there are only three areas left offering space at those prices. The Docklands, Stratford and east City fringe are the only three sub-markets in the capital offer Grade A office space at [...]
Monsanto share price rises as it announces 2,600 job cuts October 7, 2015 Shares in seed giant Monsanto rose today after it announced 2,600 job cuts and restructuring operations to cut costs amid a commodity price rout. The New York-listed group expects to make savings of $275 (£180m) to $300m by the end of fiscal year 2017, at a total cost of approximately $850 to $900m. Monsanto is also developing plans to reduce [...]
Renault might lose some of its stake in Nissan October 7, 2015 Renault could be about to lose some of its stake in Nissan, according to the Nikkei business daily. The French and Japanese car manufacturers have been joined in an alliance since 1999, under which Renault owns 43.4 per cent of Nissan and Nissan owns 15 per cent of Renault. Read more: Car manufacturer Renault [...]
Samsung’s share price leaps as it unveils profit boost October 7, 2015 Korean electronics giant and Apple arch-nemesis Samsung said today that it expects sales of 50-52 trillion won (£28.1bn-£29.2bn) in the third quarter of this year. Shareholders reacted with enthusiasm to the trading update, pushing the company's Korean-listed shares up 8.7 per cent. The company added that it expects operating profit for the quarter to be in the [...]
Standard Chartered plan for subsidiary bank in India October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The London-based bank is the only one of India’s three big foreign lenders, which include HSBC and Citigroup, to agree to regulatory changes requesting foreign banks set up subsidiary companies, according to a report in the Financial [...]