FTSE 100 hits one-month low as Greek deficit fears weigh April 22, 2010 The London Report FTSE 100 hits one-month low as Greek deficit fears weigh BRITAIN’S top shares fell to a one-month closing low yesterday after news that Greece’s deficit widened more than expected hit investor sentiment, sending commodity and bank stocks into reverse. A downgrade of Greece’s debt rating from Moody’s Investors Service added to investor [...]
Curry king who spiced up UK April 22, 2010 ESCAPING the poverty net inspired Sir Gulam Noon to go into business. He lived with his five siblings in one room when he was growing up in Mumbai, India, but is now the UK’s unofficial curry king, after amassing his fortune by selling the food of his native country in the UK. After first travelling [...]
Unilever puts Italian firm on block April 19, 2010 Consumer goods giant Unilever is set to put its Italian frozen foods unit up for sale next week with private equity groups Permira and Lion Capital likely to lead the €600m plus (£527.6m) auction, sources close to the situation said yesterday. Permira, which owns Birds Eye Iglo, and Lion Capital which runs Findus Group are [...]
FTSE ends higher on oil and mining after upbeat US data April 6, 2010 BRITAIN’S top shares closed 0.6 per cent higher yesterday, lifted by firmer commodities after upbeat US data raised demand expectations, while Vodafone fell as Verizon merger talk cooled. The FTSE 100 ended up 35.46 points at 5,780.35, having earlier hit a fresh 21-month intra-day peak of 5,790.40. The index climbed 1.2 per cent on Thursday [...]
Permira eyes Findus Italy April 5, 2010 PRIVATE equity house Permira is poised to make a takeover bid for Unilever’s Italian frozen food business Findus Italy. Unilever is expected to formally announce the sale of Findus towards mid-April, with Permira looking at making a bid for the Italian business, which is currently priced between €500m-€800m (£444m-£710m). Permira, which bought frozen food brands [...]
FTSE 100 peaks at 21-month high led by banks and energy March 23, 2010 BRITAIN’S top share index rose 0.5 per cent yesterday, hitting a fresh 21-month closing high, led by commodity, enErgy and banking stocks as fears over monetary tightening effects ebbed. The FTSE 100 index ended 29.09 points higher at 5,673.63, after hitting an intra-day high of 5,695.94. It was the highest close since June 19 2008. [...]
Unilever food chief steps down March 18, 2010 Vindi Banga, president for global foods, home and personal care at Unilever has resigned. Banga announced his intended departure yesterday after 33 years with the company. His is the latest in a series of significant departures.
Government in bid to stop a tax exodus February 22, 2010 THE government yesterday moved to reassure multinational firms that there will be no surprise tax changes if Labour wins the next general election, amid growing fears of an exodus of blue-chip firms. Chancellor Alistair Darling told an audience of chief executives – including GSK boss Andrew Witty, WPP chief Martin Sorrell and the LSE’s Xavier [...]
Possible solution to Eurozone debt woes boosts FTSE 100 February 10, 2010 BRITAIN’S leading shares added 0.4 per cent yesterday as financial issues drew strength from a possible solution to Eurozone debt worries, offsetting a retreat by heavyweight commodity shares. The FTSE 100 ended 20.15 points higher at 5,131.99, recovering from a session low of 5,105.30 in the afternoon but still well below the morning peak of [...]
A new mood of fear is pulling down markets February 7, 2010 THE TERM double-dip is over-used; our viewers always get upset with us if we refer to it too often. But where is this cycle going? It’s certainly not looking good. February seemed to start off well with decent earnings reports and some stronger data from the US, but at the end of last week sovereign [...]