Heineken eyes Brazilian beer May 8, 2011 HEINEKEN, the world’s third-largest brewer by volume, is considering making an offer for Brazilian brewer Primo Schincariol Industria de Cervejas e Refrigerantes, according to reports yesterday. Heineken, whose chief brands are Heineken and Amstel, is thought to be going through the books of closely held Schincariol, Brazil’s second-largest beer seller. Heineken said last Thursday it [...]
CITY MOVES | WHO’S SWITCHING JOBS May 8, 2011 Man Group The investment management firm has made two appointments to its board. Emmanuel Roman, chief operating officer, becomes an executive director and Matthew Lester, chief finance officer of the Royal Mail Group, becomes a non-executive director. Roman joined Man as COO following the acquisition of GLG Partners, which he joined in 2005 after 18 [...]
BEST OF THE BROKERS May 8, 2011 BG GROUP Deutsche Bank rates the oil explorer a “buy” with a target price of £17.25. The broker expects BG’s first quarter results tomorrow to show a 14 per cent rise in operating profit as the uptick in commodities prices outweighs slightly lower production levels. Deutsche has raised its earnings per share forecasts based on [...]
Sell-off in Europe likely today May 8, 2011 A sell-off is expected on European bourses this morning, following a weakening in US markets on Friday from the highs reached after the strong US jobs data. In out-of-hours trading, GFT is forecasting the UK index to open down 66 points from last week’s close, at around 5,910. The German DAX is quoted to open [...]
WALL STREET WEEK AHEAD May 8, 2011 US stock investors head into this week with added worries about the sustainability of the recent rally and a desire to reduce risk, as shown by the stampede out of commodities on Thursday. Stocks also will begin to lose the support they have enjoyed from stronger-than-expected earnings, with the first-quarter reporting period nearing an end. [...]
For Cheapflights, profits go with sky-high growth May 8, 2011 INTERNET businesses are rarely fast growing and profitable at the same time,” David Soskin tells me. He should know: he once headed up the media sector of ABN Amro’s corporate finance wing. But as Soskin proudly points out, this has never been the case for the flight price comparison website Cheapflights – the company he [...]
The new paradigm: raising capital in 2011 May 8, 2011 TO BE a successful entrepreneur you have to gain an unfair advantage over your competitors. While this can come in any number of forms depending on your business, it is indisputable that superior knowledge and contacts will give you an edge over your rivals. This is no easy business, but, fear not, City A.M. can [...]
TRY WRITING LIKE A HUMAN, NOT A BUSINESS May 8, 2011 PEOPLE tend to speak differently depending on who they’re talking to. Ask any American tourist who comes out with a brogue he never knew he had while visiting Ireland for the first time. It’s born out of a good instinct: the desire to connect with those we speak to. When you talk like your conversation [...]
Four reasons why the Eurozone may survive – and two reasons it won’t May 8, 2011 1 COMMITTED TO AUSTERITY Despite (well denied) rumours at the end of last week about a Greek pullout from the euro, Greece, Spain and Ireland are less opposed to reform and austerity than many in the media would have us believe. In Ireland, the electorate remember the prosperity of the Celtic Tiger years and want [...]
POKER FACE BY BANKERS AS RANK IS DEALT BID May 8, 2011 TALK about raising the stakes. Just days after Rank Group held its annual poker tournament, the company’s largest investor Guoco Group raised its holding to 40.8 per cent, triggering a mandatory offer for the gaming business. Strangely, Quek Leng Chan, the Malaysian billionaire who controls Guoco, was nowhere to be seen as the cards played [...]
