LSE slashes UKtrading fees November 9, 2009 The London Stock Exchange (LSE) is set to introduce a new fee structure for its UK order books as it ups the ante in an increasingly aggressively-priced market. From 1 December, sellers of stocks will be hit by a flat charge of 10p per executed order, rather than the multiple 10p charges they currently pay [...]
Google snaps up mobile ad firm for $750m November 9, 2009 GOOGLE is snapping up mobile advertising company AdMob for $750m (£448m) in a bid to make more cash from mobile phone handsets. The all-stock deal gives Google, whose Android software is increasingly used to power smartphones such as the Motorola Droid, an important element to monetise mobile internet traffic. Privately held AdMob makes technology that [...]
House prices still rising but sellers return November 9, 2009 SELLERS are slowly returning to the property market but confidence is underpinning further house price rises, according to a survey of estate agents published today. The latest monthly survey from the Royal Institution of Chartered Surveyors (RICS) showed that the net balance of surveyors reporting rising prices over the past three months surged to 34 [...]
Strong retail sales growth but 2010 outlook uncertain November 9, 2009 RETAIL sales enjoyed their strongest October growth for seven years with retail sales values rising 3.8 per cent on a like-for-like basis, according to the British Retail Consortium (BRC). But the BRC warned that last month’s strong performance was compared to October 2008, when sales fell 2.2 per cent due to turmoil in the financial [...]
German output boosts recovery November 9, 2009 German industrial output grew at its fastest rate since reunification in the third quarter, and exports rose for the fourth time in five months, showing the eurozone should move faster out of recession in the third quarter. An estimate of German GDP is due out on Friday. Economists polled last week had forecast it would [...]
Steelmaker says worst behind us November 9, 2009 There will be no recovery for Germany’s steel industry until at least 2011, following a “very difficult” 2010, the country’s steel federation said yesterday. “But the worst is behind us,” said Federation president Hans-Juergen Kerkhoff. Kerkhoff said supply and demand in Germany, the biggest steel-making nation in Europe, had now “balanced out again” on a [...]
KRAFT November 9, 2009 KRAFT has enlisted a syndicate of banks to agree to a £5.5bn credit facility to finance the cash portion of its bid and go towards paying down some of Cadbury’s debt, should the bid succeed. Citigroup Global Markets, Deutsche Bank Securities and HSBC Securities served as joint bookrunners, while Citibank and Deutsche Bank Cayman Islands [...]
BID TIMETABLE November 9, 2009 7 SeptemberKraft goes public with a proposed offer for Cadbury of 745p per Cadbury share, or £10.2bn. Cadbury rejects it as undervaluing the group and its prospects. 13 SeptemberCadbury’s chairman Roger Carr (pictured) says offer is “unappealing” and “unattractive” in an open letter toKraft’s chairman Irene Rosenfeld. 21 SeptemberCadbury asks the UK Takeover Panel to [...]
Rosenfeld sticks to her guns on bid price November 9, 2009 KRAFT’s chairman Irene Rosenfeld yesterday argued that a takeover of rival Cadbury would lead to the birth of a “global powerhouse” in snacks and confectionary and create millions of dollars in savings. Rosenfeld said that a takeover of the Dairy Milk maker would lead to annual pre-tax cost savings of at least $625m, through synergies [...]
Axa Asia arm shuns a 6bn break up bid November 9, 2009 AXA Asia Pacific Holdings (Axa APH) yesterday rejected an A$11bn (£6.1bn) break-up bid from Australian wealth management firm AMP and its parent company Axa, frustrating the French insurer’s hopes of aggressively increasing its footprint in Asia. The news came as Axa, chaired by Henri de Castries, said it plans to raise €2bn (£1.8bn) in a [...]
