Alstom in the dark over potential GE bid April 24, 2014 US engineering giant General Electric (GE) has entered talks to buy French company Alstom for roughly $13bn, according to reports from Bloomberg. Should the deal go ahead it would be the most substantial move made yet by GE chief executive officer Jeffrey Immelt to reverse the massive decline in GE's share price. The move would [...]
Decline in emerging markets slows Unilever sales growth April 24, 2014 Consumer goods giant Unilever has reported underlying sales growth of 3.6 per cent, with emerging markets rising by 6.6 per cent for the first quarter of 2014. However, market growth continued to decline in the emerging economies of South and South East Asia, while developed markets remained relatively fragile despite some improvement in southern Europe. [...]
Asian markets slide after US housing slowdown April 24, 2014 Asian markets are in retreat after the US posted worse than expected home sales and Japanese prime minister Shinzo Abe confirmed that a trade deal with the US had not yet been agreed. It was hoped that a successful free trade deal between the US and Japan would be precursor to the completion of the [...]
Here’s how government policy fuelled a booming black market in tobacco April 23, 2014 The illegal tobacco market continues to thrive in a country with one of the strictest tobacco control regimes in Europe, according to a report released by Japan Tobacco International (JTI). Ireland's illegal tobacco trade has grown to a point where non Irish duty paid cigarettes make up 28 per cent of the market. JTI's research [...]
ARM Holdings profits rise as US licensing takes off April 23, 2014 Chip designer ARM Holdings has reported a nine per cent rise in profit before tax to £97m for the first quarter ended 31 March. The British company also enjoyed a 10 per cent rise in revenue to £187m. However, this was slightly below analyst expectations of £189m. ARM has seen a rapid expansion in the use [...]
Sports Direct sales jump as board squares up to shareholders April 23, 2014 Sports Direct has reported a jump in sales of 10.3 per cent to £360m for the nine weeks ended 30 March. The sports retailer saw gross profit rise 11.5 per cent £147m. The company enjoyed strong increases from the brands division and sports retail sales. Premium Lifestyle sales also rose by 0.7 per cent to [...]
Asian markets shrug off Chinese manufacturing data April 23, 2014 Asian markets are relatively flat after Chinese manufacturing data came in line with expectations but still showed the sector in contractionary territory. Markit's manufacturing purchasing managers' index (PMI) rebounded, from 48 in March to 48.3 in April, exactly in line with Bloomberg's median forecast. The pick-up was primarily due to rebounds in the output and [...]
Here’s why Goldman Sachs think the US is on the verge of a beer renaissance April 22, 2014 The US could be on the cusp of a beer renaissance, according to leading investment bank Goldman Sachs. An improving employment market combined with improved innovation and marketing, could see US beer volumes enjoy a substantial recovery. Over the past 15 years, wine and spirits have been making most of the running when it comes [...]
The Card Factory set to join host of UK IPOs April 22, 2014 The Card Factory has announced it will proceed with plans for an initial public offering (IPO), joining a host of UK retailers to list on the London Stock Exchange in recent months. The IPO will comprise of an offer of new and existing shares to institutional investors. The company has also announced that former Travis [...]
Shaftesbury announces £135m loan with Canada Life Investments April 22, 2014 West end landlord Shaftesbury has announced a £135m 15-year loan with Canada Life Investments (CLI) and completion of refinancing with Lloyds Banking Group. The loan is set to be repayable in full maturity in May 2029, and has been secured on properties held in a subsidiary company. The deal will have a fixed interest rate [...]
