Megabrew: American Antitrust Institute flags “serious competitive concerns” with AB InBev’s takeover of SABMiller April 26, 2016 An American antitrust organisation has flagged "serious competitive concerns" with the AB InBev takeover of British drinks giant SABMiller. "An AB InBev-SABMiller combination raises serious competitive concerns in the US beer market," Diana Moss, president of the American Antitrust Institute (AAI) said in a letter to the US Department of Justice. The proposed merger, which was [...]
This is what you should be eating based on your job, according to healthy fast food chain POD April 26, 2016 Keeping up a healthy diet in the City has never been easier, but are we eating the right food for our jobs? News reaches us from healthy food chain POD that London workers should be making diet plans based on what they do for a living. There's plenty of evidence to suggest what we eat [...]
UK drug developer Vernalis looks to raise £40m for US expansion April 26, 2016 Drug developer Vernalis, maker of cough and cold treatments, is looking to raise £40m from a share issue to fund US expansion and bring more products to market. The AIM-traded firm has issued 80m shares at 50p each. Vernalis currently has four US cough and cold programmes under development and is also planning on rolling out and relaunching two existing products. Ian Garland, chief executive of [...]
Glencore’s biggest shareholder reduces stake in embattled miner April 26, 2016 Glencore's biggest shareholder has reduced its stake in the embattled miner and trader which has been whipsawed by tumbling commodity prices. The Qatar Investment Authority (QIA) today took its holding below nine per cent according to a regulatory filing. Read more: Glencore's chief executive took home £1.1m last year Today's move could surprise some investors, given [...]
Energy sector bucks the M&A trend as deals value powers to highest year-to-date level since 2011 April 26, 2016 Deal activity in the energy and utility sector has powered to its highest year-to-date level since 2011. The mergers and acquisitions (M&A) surge comes in a year that has seen most sectors in decline after a record 2015 in which more than $5 trillion (£3.4 trillion) of deals were announced in total. Between 1 January and [...]
MP Matt Hancock says the government is exploring how it could use blockchain in taxpayer payments April 26, 2016 The government is exploring how it could use blockchain technology in the tracking and distribution of taxpayers' money, such as grants, a senior MP said today. At a blockchain networking event cabinet office minister and paymaster general Matt Hancock said the government was exploring how blockchain could be used to manage and track the distribution of public [...]
Investment banks in talks over possible merger with energy-focused boutique April 26, 2016 Investment banks Perella Weinberg and Tudor, Pickering, Holt and Co are understood to be in talks over a possible merger. New York-based Perella, which recently advised Deutsche Boerse on its proposed merger with the London Stock Exchange, is the bigger of the two banks. Tudor, Pickering, Holt and Co is an energy-focused boutique bank based in Houston, Texas. [...]
Procter & Gamble beats expectations but warns over its fourth quarter sending the share price lower April 26, 2016 Procter & Gamble shares dropped in early trading in New York after the company announced third-quarter earnings above estimates, but warned its results in the fourth quarter will be worse than last year. The global consumer goods company, which makes everything from shampoo to toilet paper, said profits rose to $2.75bn (£1.88bn), or 97 cents per share, up from $2.15bn, or 75 [...]
EU referendum: UK told by German officials that it won’t get special treatment after Brexit April 26, 2016 If the United Kingdom votes to leave the European Union, it will not be given any special treatment, Germany politicians have warned. While Leave campaigners have said that the UK would be able to strike a free trade agreement with the EU, senior German lawmakers today said that if the UK leaves the bloc, negotiations [...]