Chinese set to eat up United Biscuits deal September 26, 2010 MCVITIES manufacturer, United Biscuits (UB) is in talks with one of China’s largest food groups about a possible takeover that could value the British company at almost £2.5bn. The Shanghai-based foods group Bright Food yesterday confirmed that it was in talks with UB to pen a deal that would potentially hand the Chinese group a [...]
Tesco boss slams short-term investors September 26, 2010 TESCO boss Sir Terry Leahy has launched a stinging attack on City investors for failing to act in the best interests of Britain’s public companies. Writing in today’s Times, Leahy said shareholders would benefit from becoming more engaged with the firms they invest in. This would also free up managers from dealing with the goals of [...]
Blow to Betfair as odds on £1.4bn float valuation are slashed by rival September 26, 2010 BETFAIR’S hopes of achieving a valuation above £1.4bn in its upcoming float have received a blow from a rival online bookie. Bodog was forced to slash its odds on Betfair failing to hit the sum after a rush by shrewd punters. Bodog initially offered 8/11 on the IPO failing to hit £1.4bn but was forced [...]
Rivals jostle to be shadow chancellor September 26, 2010 ED Miliband was last night desperately trying to get his older brother to become shadow chancellor, although he has not yet sealed the deal. An aide to David Miliband, who was narrowly beaten in the battle to become Labour leader by his younger sibling, said he hadn’t decided whether to put his name forward for [...]
The Tories shouldn’t write-off Red Ed September 26, 2010 POLITICAL EDITOR THERE is undisguised mirth in Tory circles at the election of Ed Miliband as Labour leader. On Saturday night, shortly after the result was announced, staff at Conservative HQ were popping open the champagne. Advisers to David Cameron think the next election is more winnable than ever. Much of this relief is understandable. [...]
Unions accused of foul play in Labour campaign September 26, 2010 CHARLIE Whelan, the outgoing political director of the Unite union, yesterday claimed he delivered a victory for Ed Miliband by pressuring six Labour MPs to change their vote. The former Gordon Brown spin doctor said he convinced the MPs, who rely on trade union funding, to put Ed Miliband as their second preference. Under Labour’s electoral college, an [...]
City sees lift in financial services poll September 26, 2010 THE financial services sector grew at faster rate in the past three months than any time since June 2007 – but the increasing burden of regulation is hitting businesses hard, a CBI-led report warned today. A poll carried out by the CBI in tandem with professional services firm PwC revealed an increasingly upbeat City with [...]
BP free to sell in Venezuela September 26, 2010 VENEZUELA has granted BP permission to negotiate the sale of its assets in the South American OPEC member, Venezuelan Oil Minister Rafael Ramirez said yesterday. Last month, he said BP would need authorisation from the administration of President Hugo Chavez to sell its minority stakes in two exploration and production joint ventures with Venezuela’s state [...]
Burke to head up NBC Universal September 26, 2010 COMCAST chief operating officer Steve Burke will take the reins at NBC Universal when his firm completes its acquisition of the entertainment company. He will succeed Jeff Zucker as chief executive of the firm when Comcast finalises the purchase of a 51 per cent stake in NBC Universal from General Electric. Comcast chief executive Brian Roberts said: [...]
£23m payout softens blow to Geoghegan September 26, 2010 MICHAEL GEOGHEGAN, the outgoing chief executive of HSBC, will have earned a potential payout of up to £23m by the time he leaves the bank next year, in the wake of an effective coup at the helm of the group. Geoghegan is in line for a severance payout of £1.24m, while he is also eligible [...]
