Villains of finance: How the world’s most infamous crooks tricked investors – and the tell-tale signs of ponzi schemes November 19, 2015 Victims of the biggest ever Ponzi scheme – Bernie Madoff’s $65bn (£43bn) fraud – are finally getting their money back after seven years, as another tranche of payouts is approved by US courts. The saga is not over yet, as an upcoming film called “Wizard of Lies” will shine a light on the story, starring [...]
Ladies who don’t lunch: Lady Barbara Judge talks first impressions and why moderation is boring November 19, 2015 Ping! A reply from Lady Barbara Judge drops in my inbox, exactly 15 minutes after I sent over an email asking her whether she would be available for a “ladies lunch”. “Dear Maike I would be glad to do it. The problem is to find a date. With best regards, Barbara.” Surprised and pleased at [...]
Paris attacks 2015: US markets open marginally higher November 16, 2015 US stock markets traded mostly higher on opening on Monday, helped by oil prices, following on from terror attacks in Paris on Friday that had caused Asian and European markets to fall on opening. The Dow Jones Industrial Average was 0.26 per cent up at 17,290 points as markets opened, while the S&P 500 was 0.32 per cent [...]
Megabrew is here: Now that SABMiller and AB InBev have reached a deal the real hangover begins November 11, 2015 Anheuser-Busch InBev’s £71bn takeover of SABMiller, the biggest ever British corporate merger, is poised to leave a bitter taste in the mouth with thousands of job cuts, a de-listing from the London Stock Exchange and the shuttering of SAB’s Mayfair offices all in the pipeline. AB InBev said the deal, confirmed yesterday, will result in $1.4bn (£920m) in efficiency [...]
Alibaba agrees $4.3bn merger with Youku Tudou November 6, 2015 Alibaba has bought Chinese online entertainment company Youku Tudou for $4.3bn (£2.8bn) in a bid to increase its presence in China's booming online video sector. The price represents a premium of 35.1 per cent over the closing price of Youku Tudou shares the day before Alibaba signalled its takeover intentions. Alibaba upped its original offer [...]
Candy Crush maker King Digital bought by US games giant Activision Blizzard for $5.9bn November 3, 2015 Activision Blizzard, the US gaming giant behind Call of Duty and World of Warcraft, announced this morning it's bought iPhone games developer King Digital, the European company behind the notoriously addictive Candy Crush, for $5.9bn (£3.8bn). The company said it will pay $18 per share for the company, a 20 per cent premium over King's closing price [...]
Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
Allergan share price soars on confirmation of possible mega-merger with Pfizer October 29, 2015 Allergan has confirmed it is considering joining forces with Pfizer to create the world's biggest drugs company. In a statement, the company said it was "in preliminary friendly discussions regarding a potential business combination transaction" with Pfizer. It added that there was no guarantee of a deal: No agreement has been reached and there can [...]
Forbes most valuable sport business brands 2015: Nike beats Adidas and Under Armour as Sky Sports tops UK companies October 23, 2015 Nike has been named the most valuable brand in sport, beating competition from Adidas, Under Armour and Sky Sports. According to Forbes magazine, the sportswear giant is worth almost £17bn – nearly £6bn more than any other sports business brand in the world. Walt Disney-owned ESPN follows with a value of £11bn, while Nike's rivals in [...]
Prime Minister David Cameron appoints Alibaba’s Jack Ma to his Business Advisory Group October 19, 2015 Alibaba founder and executive chairman Jack Ma has been appointed to Prime Minister David Cameron's Business Advisory Group (BAG). Number 10 announced the appointment today, ahead of a four-day state visit by China's President Xi Jingping. Commenting on the appointment today, a Downing Street spokeswoman said: "This is about appointing someone who has real business [...]