EU Commission accused of blocking whistleblower clause April 7, 2014 Transparency at the European Union has taken a blow after the European Commission refused to apply the same rules it requires of national statistical offices to the Commission's own agency, Eurostat. In 2012, MEPs had agreed to extend the rules governing national statistics offices to apply to Eurostat and wanted to insert a "whistleblower clause" [...]
Here’s what the world’s biggest investment banks are saying about today’s cement giants merger April 7, 2014 Investment banks JP Morgan and UBS have given a ringing endorsement to the news that Holcim and Lafarge, the world's two largest cement companies, were in advanced merger talks on Friday. On Monday, the companies confirmed plans for a merger that could potentially control 40 per cent of cement manufacturing, with a market cap of [...]
Complaints about energy companies surge by 224pc April 7, 2014 The bad news just keeps on coming for Britain's energy companies. The number of complaints about energy providers has surged by 224 per cent for the first three months of 2014, according to the sector's ombudsman. Complaints from distressed customers rose from 3,277 for the first three months of 2013 to 10,628 for the same [...]
Cement giants confirm mega-merger April 7, 2014 Cement giants Holcim and Lafarge have confirmed the details of a merger which could create a company with a combined market value of $50bn (£30bn). The deal will be structured as a public exchange offer initiated by Swiss company Holcim, with an exchange ratio of one Holcim share for one Lafarge share. They will also [...]
Falling tech shares hit Asian markets April 7, 2014 Asian markets have taken a hit from a combination of declining Japanese tech shares and a stronger yen. The fall in tech shares follows similar moves seen on Wall Street and comes ahead of e-commerce giant Alibaba's initial public offering, widely expected to be one of the biggest offerings ever seen. However, it is not [...]
World cement giants said to be in merger talks April 4, 2014 Cement giants Holcim and Lafarge are exploring the possibility of a merger that to form a company that would have a combined market value of over $50bn, reports Bloomberg. Citing people familiar with the matter Bloomberg, say the discussions are ongoing and are at an early stage. However, the talks may yet collapse due to [...]
What you need to know before the US open April 4, 2014 A rise in US stock index futures is pointing to a positive open, as markets digest the latest jobs report. The US created 192,000 jobs in March – lower than analysts expectations of 200,000. London-based consultancy Capital Economics said the number "confirms that the recent spate of weakness was nearly all due to the severe [...]
Remy Cointreau shares rise on bid talk April 4, 2014 French drinks company Remy Cointreau has seen its share price jump on the back of speculation that Jack Daniel's maker Brown-Forman is considering a bid for the company. Shares rose by 10 per cent but have now pared back to a more modest 3.8 per cent gain. According to the Betaville blog "tentative discussions have [...]
House prices see third drop in 15 months April 4, 2014 House prices fell 1.1 per cent in March, according to the Halifax House Price Index. The fall marks only the third monthly drop in 15 months. Halifax pointed out that the monthly movements can be volatile and cited the three month-on-three month measure as a more reliable guide for underlying trends. House prices in the [...]
What you need to know before the open April 4, 2014 European markets are set to have a positive opening this morning as investors await what are widely expected to be encouraging job numbers from the US. Analysts estimate payrolls to rise by around 200,000, which may raise confidence in the strength of the US economy. However, a better than expected hike in payrolls may renew [...]
