Cheers! EU antitrust regulators wave through Megabrew May 24, 2016 EU antitrust regulators have waved through ABInBev's £68bn takeover of SABMiller. There is however quite a large caveat in that SABMiller will have to sell almost the whole of its beer business in Europe – though it already has that in-hand. SABMiller has agreed to offload its Peroni, Grolsch and Meantime beer brands to Japan's Asahi Group and to divest [...]
Best Buy has warned over its current quarter, sending its share price tumbling May 24, 2016 US electronics chain Best Buy has said it's current quarter is going to come in below analyst expectations. The company has blamed disruption in supply after an earthquake in Japan caused chaos with production of some high-margin products, as well as investment in services launched last September dragging on earnings. The news, coming ahead of the open in [...]
Before the bell: What you need to know before the US market open May 24, 2016 China is trying to smooth US trade ties after threats of a tax hike on imports from Republican presidential nominee Donald Trump and the European Commission could decide today whether to allow ABInBev to buy SABMiller. Here's what you need to know before the open at 2:30pm London time. In the pre-market futures are pointing up. The [...]
If businesses in the leisure and hospitality industry listened to their customers it could add £3.2bn to the sector May 24, 2016 The hospitality and leisure industry could get a £3.2bn boost if it responds better to reviews, research published today suggested. Improving how the sector manages and responds to customer feedback could add an extra £2bn to the UK economy with the impact on the sector’s large supply chain contributing a further £1.2bn, according to a report [...]
Bosses feel the strain on their entrepreneurial motivation and drive as work woes increase May 24, 2016 London's top executives are being beaten down by regulatory issues and the daily grind of corporate life research out today has revealed. This is having a knock on effect on entrepreneurial motivation and drive, according the survey, commissioned by London-based private bank Kleinwort Benson. The YouGov poll shows that 39 per cent of senior executives [...]
Third Energy gets fracking go-ahead in North Yorkshire May 23, 2016 Third Energy has become the first company to have a fracking application approved in England since a ban on the process was lifted in 2012. North Yorkshire County Council has voted in favour of the application to extract shale gas at a site near Kirby Misperton in Ryedale. The council's planning committee voted 7-4 in favour [...]
At the close: FTSE falls after oil price drop erases earlier gains May 23, 2016 A meandering start to the week saw the FTSE 100 climb strongly shortly after the open only to fall back before lunch time. The blue-chip index ended the day at 6,136.43, down 0.32 per cent from yesterday's close price. The falling oil price, down over one per cent and moving away from the psychologically important $50 per [...]
De La Rue sells off its cash-processing business as part of strategic shift, sending share prices higher May 23, 2016 The Bank of England's bank note printer De La Rue has sold off its struggling cash-processing business. The sale of Cash Processing Solutions (CPS) to private equity group Privet Capital is the latest move in De La Rue's plans to overhaul and streamline its operations. De La Rue last year embarked on a five year strategic turnaround that will see [...]
US manufacturing output falls for first time since September 2009, throwing up questions around the possibility of a June interest rate hike May 23, 2016 The US manufacturing sector crept closer to stagnation in May, with the Markit Flash US manufacturing Purchasing Managers’ Index (PMI) registering only slightly above the neutral 50.0 mark at 50.5. This was down from 50.8 in April and signalled only a marginal improvement in overall business conditions that was the weakest since the current upturn started in October 2009. [...]
Before the bell: What you need to know before the US market open May 23, 2016 The latest round of consolidation in the drugs and chemicals industry is on after Germany Bayer made a $62bn bid for US seeds company Monsanto while European PMIs this morning have added to European economist concerns. Here's what you need to know before the open. US pre-market futures are mixed today. The S&P is down by 0.06 per [...]
