SABMiller October 18, 2010 SABMILLER yesterday painted a mixed picture with Europe lagging behind emerging economies – particularly in Africa – with lager sales. The company has even resumed reporting results in Zimbabwe after the stabilisation of the currency. On an organic basis volumes were up 14 per cent in Africa while dropping five per cent in Europe. It [...]
New Bond Street ‘best in world’ October 18, 2010 The head of Piaget, one of the world’s leaders in jewellery yesterday said New Bond Street the world’s premier shopping street for jewellery. Speaking as he opened a new flagship store in the street, Philippe Léopold-Metzger said: “No other street in the world matches it for the watches and jewellery industries — not even New [...]
Facebook apps ‘leak’ details October 18, 2010 Facebook was yesterday thrown into a new privacy row after it emerged the site is passing on details of millions of users and their friends to internet firms. An investigation found the social networking site is giving details of users who use apps and games such as the hugely popular FarmVille. The issue affects tens [...]
First Quantum acquires new Peruvian mine October 18, 2010 FIRST Quantum Minerals said it has paid C$460m (£285m) for Antares Minerals yesterday, in a move to diversify following the confiscation of its copper mine in the Democratic Republic of Congo. Antares’ principal asset is the Haquira copper project in southern Peru, which contains around 3.7m tonnes of copper equivalent. It also lies next to [...]
Assets bounce back in 2009 October 18, 2010 ASSETS under management (AUM) at the world’s largest 500 fund managers jumped by 16 per cent in 2009 to $62 trillion (£39 trillion), the second highest rise on record, a report said yesterday. The rise was in sharp contrast to the 23 per cent loss in AUM seen in 2008, the Pensions and Investments/ Towers [...]
Clipper Windpower agrees to £139.5m takeover offer from American rival UTC October 18, 2010 Wind turbine maker Clipper Windpower has agreed a £139.5m buyout by United Technologies Corporation in a deal which will buoy its finances ahead of a choppy outlook for the US wind energy sector. UTC will gain control of the 50.1 per cent stake in Clipper it does not already own and will provide an additional [...]
UniCredit reaches a deal with unions as it seeks to cut domestic operations October 18, 2010 UniCredit has reached a deal with unions over thousands of lay-offs in Italy, ending a protracted struggle over a plan by the country’s biggest bank to streamline domestic operations. Under the deal, 3,000 UniCredit employees will get access to early retirement plans, the FABI banking union said. This comes on top of planned lay-offs for [...]
Germany pays €1.5m for Julius Baer clients’ data October 18, 2010 German prosecutors paid around €1.5m (£1.3m) for client data from Swiss bank Julius Baer, as part of a campaign to clamp down on untaxed German wealth held in Switzerland. A spokeswoman for the prosecutor’s office in the German city of Muenster said the state of North Rhine Westphalia had bought a CD containing data on [...]
Royal Mail asks to hike prices October 18, 2010 Royal Mail has asked the postal regulator for permission to hike prices on business mail products for one year only, in order to generate extra revenue of up to £100m. Royal Mail chief executive Moya Greene said the firm was asking for the chance “to charge a fair price to other companies who use our [...]
Boots takes control of ANZAG October 18, 2010 Retail giant Alliance Boots yesterday said it had reached agreement with shareholders to acquire a further 51.65 per cent stake in German pharmaceutical wholesaler Andreae-Noris Zahn (ANZAG). At the same time, Boots launched a voluntary tender offer for the outstanding 18.4 per cent of the company it does not yet own, at €26 per share.