Boparan told to put up or shut up over Northern takeover interest January 4, 2011 THE TAKEOVER Panel issued a “put up or shut up” deadline on food tycoon Ranjit Boparan yesterday over his interest in taking over Northern Foods. Boparan has until 21 January to make a firm bid for Northern, which is currently working with Irish convenience food maker Greencore on a merger that would create a company [...]
Morgan Stanley appoints new chief operating officer January 4, 2011 MORGAN STANLEY has appointed its head of technology as chief operating officer. The bank yesterday named Jim Rosenthal would succeed Tom Nides, who departed late last year to join the US State Department under Hilary Clinton as deputy secretary for management and resources. Rosenthal will handle the integration of the New York investment bank’s brokerage [...]
Anglo in $1bn sale of foreign steel assets January 4, 2011 ANGLO American has sold its Moly-Cop and AltaSteel businesses to Australian steel manufacturer OneSteel for $1,076bn (£641m), in the latest move to streamline the mining company’s business and renew its focus on core commodity assets. The sale was initially priced at $932m on a debt and cash-free basis on 14 November 2010, but the final [...]
Chinese visit Spain to confirm support January 4, 2011 CHINESE vice premier Li Keqiang arrived in Madrid yesterday for a three-day visit. He met finance minister Elena Salgado and industry minister Miguel Sebastian yesterday, and today will meet King Juan Carlos and Prime Minister Jose Luis Rodriguez Zapatero. The visit follows the publication of an editorial by Li on Monday in Spain’s El País [...]
Standard Life offer extended January 4, 2011 STANDARD Life has extended the deadline of its cash offer for Focus Solutions after failing to gain acceptances on all Focus’ shares. It received acceptances from shareholders holding 82.7 per cent of Focus by the offer’s initial closing date of 31 December. It has now extended the deadline until 1pm on 14 January. The original [...]
Legal decision harms Danone January 4, 2011 HEALTH product producer Danone yesterday saw its share valuation downgraded by analyst Sanford C Bernstein. Growth expectations for this year and the medium-term have been downgraded for the world’s largest yogurt maker, despite a strong stock performance in 2010. It now carries a “market-perform” rating, down from “outperform”, due to risks facing its business. Legal [...]
New Year boom sees FTSE lifted over the 6,000 mark January 4, 2011 BRITAIN’S top shares rose sharply yesterday, the first session of 2011, lifted back above the key 6,000 level by heavyweight oil stocks and banks, as solid economic data prompted a return of investor risk appetite. Fresnillo, the Mexican silver miner, jumped 85p to £17.53 on revived talk that billionaire Carlos Slim might be taking a [...]
US rally peters out as oil prices weigh January 4, 2011 US stocks fell yesterday as declines in oil and metals prices dragged down energy and materials shares, while concern about lower supermarket profits hit consumer stocks. The S&P materials index slid 1.6 per cent while the energy index dipped 1.1 per cent as metals and oil prices dropped after recent gains. Shares of Supervalu fell [...]
Blacks sales in festive rise January 4, 2011 BLACKS Leisure said it had been boosted by sales over the festive period with total sales in its outdoor business up 12.9 per cent in December. Blacks confirmed that it is still in talks with parties – which it has not named – about a possible takeover of the company. Like-for-like sales were up 10.2 [...]
ANALYST VIEWS: IS BLACKS LEISURE FINALLY TURNING A CORNER? January 4, 2011 KEITH BOWMAN | HARGREAVES LANSDOWN Blacks continues to inch its way out of intensive care. Same store sales have hit double digit territory, whilst the group’s restructuring plan remains ongoing. Market consensus opinion currently denotes a strong ‘hold’. DAVID STODDART | FINNCAP Blacks has taken sales into positive territory and also seen a boost in [...]
