Balls: Markets alone won’t deliver for UK February 9, 2015 INTERVIEW Labour’s shadow chancellor Ed Balls discusses markets, exports and business backing with David Hellier IT’S BEEN a bit of a bruising few days for those in the Labour Party charged with finessing its relationship with the UK’s top business leaders. But that won’t stop Ed Balls relishing the prospect of speaking at the British [...]
Boots buys into Latin America August 12, 2014 ALLIANCE Boots said yesterday it had made its first foray into Latin America, after completing its acquisition of pharmacy chain Farmacias Ahumada. The company, which revealed its full merger with US giant Walgreens last week, said the Santiago-listed group comprised of two main businesses in Mexico and Chile which together operated more than 1,400 stores, [...]
Greene King and Spirit Pubs in £773m takeover November 4, 2014 BRITISH pub retailer and brewing giant Greene King finally reached agreement yesterday over the long-mooted takeover bid of compatriot brewer Spirit Pubs. Greene King’s offer – worth £773.6m, at 115p a share – has been accepted by Spirit Pubs’ senior management. The arrangement will see Greene King shareholders take 71.1 per cent in the newly [...]
New York Report: Wall Street closes flat August 6, 2014 MAJOR US stock indexes yesterday ended little changed, as simmering tensions in Ukraine and Russia and a failed merger between Sprint and T-Mobile offset gains in consumer staples shares. The Dow Jones industrial average rose 13.87 points, or 0.08 per cent, to 16,443.34. The S&P 500 was up 0.03 point to 1,920.24, and the Nasdaq [...]
Walgreen’s earnings grow but questions raised on Boots buyout June 24, 2014 US HIGH street chemists Walgreen, which owns 45 per cent of UK rival Alliance Boots, yesterday announced a 16 per cent jump in quarterly earnings, though it missed Wall Street’s expectations. Walgreen, which paid $6.7bn (£3.95bn) for its share of Boots in 2012, said the results were aided in part by a lower income tax [...]
Burger King to leave US in $20bn tax inversion deal August 25, 2014 Burger King is in talks to combine with Canadian coffee and doughnut chain Tim Hortons in a deal that would create a fast food empire with a market valuation of over $20bn (£12bn). The companies confirmed they had entered merger talks late on Sunday, and said the new merged group would be based in Canada, [...]
Burger King tax row hits Warren Buffett after Tim Hortons takeover announcement August 26, 2014 Burger King and US tycoon Warren Buffett were forced to defend a £7bn (£4.25bn) takeover of Canadian chain Tim Hortons yesterday amid mounting political tension in America over tax inversions. The Miami-based giant said it would buy the coffee and doughnut chain for $11.4bn and relocate to Ontario, Canada – seemingly to benefit from [...]
New York Report: Dow suffers a triple-digit fall on Iraq fears June 24, 2014 US STOCKS had their biggest fall in over a month yesterday as early enthusiasm from economic data faded and concerns about the violence in Iraq gave investors a reason to sell and book some profits. The Dow Jones industrial average fell 119.13 points or 0.7 per cent, to end at 16,818.13 – its biggest drop [...]
Simon Fraser is fighting for hearts and minds at the Investor Forum July 2, 2014 Does someone at the new body set up to promote investor long-termism have a bizarre sense of humour? That was one interpretation of yesterday’s confirmation that Simon Fraser, former global chief investment officer of Fidelity, would be its first chairman. After all, Fraser was until recently a board member at the bete [...]
What you need to know before the US open March 25, 2014 US markets are expected slightly higher today, although concerns remain when it comes to ongoing geopolitical issues. Indices fell yesterday, although the selloff was concentrated in the Nasdaq. G7 leaders have threatened Russia with further sanctions if Vladimir Putin continues to destabilise Ukraine, following the seizure of Crimea. That said, Russian markets have steadied today, [...]