Barry Callebaut sells Europe arm July 11, 2011 Barry Callebaut, the world’s largest chocolate products maker, said it would sell its European consumer business Stollwerck to Belgium’s Baronie Group for an undisclosed price. The group, which makes chocolate for companies such as Nestle and Hershey, has been trying to sell the unit for years. In 2009, a deal with Spain’s Natra failed as [...]
AIG to reshuffle book-runners July 11, 2011 AIG plans to replace one or more Wall Street banks in its next sale of shares from the US government, because it was disappointed in the banks’ efforts to drum up interest in the previous offer. AIG’s recent share offering was led by Bank of America, Deutsche Bank, Goldman Sachs and JPMorgan.
CITY MOVES | WHO’S SWITCHING JOBS July 11, 2011 Begbies Traynor Group The professional services consultancy has appointed Mark Fry as head of insolvency and restructuring. Fry joined the group in 2005 as a partner in its Insolvency and Restructuring division, rising to become both managing partner of the group’s London office and regional managing partner for London and the South East. His recent [...]
BEST OF THE BROKERS July 11, 2011 BRITISH AMERICAN TOBACCO Jefferies rates BAT a buy with £33.51 target price, as it believes its geographical exposure and market positions favour it over its main competitor Imperial Tobacco. Its strong emerging market bias will provide fast volume growth and pricing improvements, with a lower level of regulation. It also holds the number one position [...]
Global recovery fears hit banks as they lead the FTSE lower July 11, 2011 CONCERNS over Europe’s debt crisis and the global economy sent Britain’s top shares sharply lower yesterday, leaving investors anxious for a strong earnings season to kick-start further buying of equities. The UK benchmark index ended down 61.42 points or one per cent at 5,929.16, its lowest close since 29 June, extending a 1.1 per cent [...]
Wall Street stock hits month’s low July 11, 2011 US stocks suffered their worst day in nearly a month yesterday as concern about the stalemate in US budget talks and growing debt problems in the Eurozone prompted investors to hedge against further losses. The S&P 500 dropped nearly 2 per cent on concerns that Europe’s debt crisis would spread to Italy. European officials were [...]
McIlroy can double up and be the pride of St George’s July 11, 2011 IN TERMS of prestige and history there is no other tournament that can hold a light to the Open and I’m sure this year’s instalment will provide many more memorable moments. The event returns to Royal St George’s after an eight-year absence and the course will provide all the usual tests you expect of an [...]
Wenger upbeat on Cesc and Nasri as Gervinho signs up July 11, 2011 ARSENAL manager Arsene Wenger remains hopeful that he’ll start the new Premier League season with both Samir Nasri and Cesc Fabregas at the club. On the day that Wenger finally confirmed the £11.2m signing of Lille forward Gervinho (below) – “subject to a regulatory process” – the Frenchman was also positive about his chances of persuading [...]
Essien blow for Chelsea as Spurs stand firm on Modric July 11, 2011 CHELSEA have been rocked by the news that midfield star Michael Essien could be out for six months with a knee injury, while their primary transfer target Luka Modric will remain at Spurs, according to his manager Harry Redknapp. Ghana midfielder Essien damaged ligaments in his right knee during a training session last week, the third [...]
RFU seek talks to extend Johnson’s England deal July 11, 2011 THE Rugby Football Union have opened the door for Martin Johnson to extend his spell as England manager beyond this autumn’s World Cup. The former England captain’s present deal expires in December and the RFU, under previous chief executive John Steele, opted to leave negotiations until the tournament in New Zealand finishes. After leading England [...]
