Xstrata delays vote on merger with Glencore July 11, 2012 THE GO-AHEAD for the $53bn (£34bn) mega-merger between mining giant Xstrata and commodities trader Glencore has been delayed until at least September, it was announced yesterday. Investors had originally been scheduled to vote on the deal today but Xstrata changed the schedule last week in an attempt to smooth relations with shareholders who are fighting [...]
Kicking the soft drink bottletop down the road proves costly July 11, 2012 UPON nothing has so great and diligent ingenuity been brought to bear in all ages and in all countries, except the most uncivilised, as upon the invention of substitutes for water.” The great American cynic Ambrose Bierce wasn’t writing about Britvic’s Fruit Shoot brand, but he might as well have been. Since 2000, the fruit [...]
Britvic slumps as drinks maker says recall may cost up to £25m July 11, 2012 SHARES in soft drink maker Britvic fell as much as 17 per cent yesterday, after it warned that the cost of product recalls announced last week could hit £25m. The soft drinks producer recalled all bottles of Robinsons Fruit Shoot Regular, Hydro and Low Sugar after the children’s drinks were hit by manufacturing flaws following [...]
Ad spend drops as morale crisis hits businesses July 11, 2012 MARKETING spending has fallen due to deteriorating business confidence and cost-cutting measures, according to the latest IPA Bellwether report released this morning. Advertising budgets were hit by weaker-than-expected sales and concerns about the strength of the economy in the last quarter, with executives’ confidence in their own industries falling to -16.8 per cent, and one [...]
Moneysupermarket earnings up in face of Google threat July 11, 2012 PRICE comparison website Moneysupermarket.com said yesterday it expects its earnings for the first half of the year to rise by 24 per cent compared with last year. The group, which compares prices on savings, loans and purchases on its site, said it was predicting a 15 per cent increase in revenue to about £102m and [...]
RLM Finsbury is top PR firm for European M&A activity in 2012 July 11, 2012 COMMUNICATIONS firm RLM Finsbury has topped the league table of PR advisers by deal value, according to research released yesterday. Data provider Mergermarket says the company worked on European M&A deals worth $95.6bn (£61.4bn) in the first half of 2012, more than any other PR agency. In total the firm, which is part of Sir [...]
CITY VIEWS | DO YOU USE AN E-READER? July 11, 2012 DAVID KING MAVEN I still sometimes buy physical books, but I also own a Kindle. I enjoy the convenience of it, but I also like the look and feel of a book. I use both at home, but I use my Kindle more when I’m travelling – it’s just more convenient. When I go on [...]
Bloomsbury sees ebook sales surge by 70pc in market shift July 11, 2012 EBOOK sales have jumped by 70 per cent at Bloomsbury, the publishing house announced yesterday, as the company heralded a “seismic shift” in publishing. The rapid rise in year-on-year digital sales for the three months to June means that the publisher now sells more ebooks than hardback editions in America. Print sales fell by two [...]
Booz Allen eyes $1bn dividend July 11, 2012 GOVERNMENT consultancy firm Booz Allen Hamilton said yesterday that it was exploring a proposal to refinance its debt that could result in a special dividend of about $1bn to its shareholders. Booz Allen, which provides management and technology consulting in defence, intelligence and civil markets, said it was evaluating possible refinancing of about $959m of [...]
Primary Health closes £75m bond July 11, 2012 Primary Health Properties, the owner of more than 150 UK medical centres, has raised £75m in its debut retail bond offering, the latest in a raft of firms tapping individual investors to fund growth. PHP, which reached its maximum target a week earlier than expected is offering a 5.375 per cent annual rate of return [...]
