Before the bell: What you need to know before the US market open July 28, 2016 Last night the US Federal Reserve signalled the way to an interest rate rise before the US Presidential Election and investors are busy digesting the flood of earnings reports. Here's what you need to know before the US market open at 2:30pm. The pre-market is pointing lower ahead of the open but looks to be broadly [...]
The case for Hinkley Point C has collapsed: It’s time to scrap it July 28, 2016 Assuming its unions have not succeeded in stopping it, the board of EDF is today expected to wave through a decision on Hinkley C, the first new nuclear power station in the UK for 20 years and, at £18bn, the world’s most expensive power station. It’s easy to forget, Hinkley C was the future once. [...]
Coca-Cola sales fall flat on low Chinese and Latin American demand July 27, 2016 Global drinks giant Coca-Cola’s share price fell more than three per cent yesterday after it reported lower-than-expected quarterly revenue. The figures Weakness in the Chinese and some Latin American markets drove a 5.1 per cent fall in net revenues, coming in at $11.54bn (£8.8bn) in the quarter ended 1 July. Revenues were expected to reach [...]
Watch out Apple? Huawei revenue jumped this year July 25, 2016 Revenues at the Chinese smartphone maker Huawei jumped 40 per cent in the first half of the year. The figures Revenue for the year to the end of June came in at 245.5bn (£28bn), up 40 per cent on last year's 175.6bn yuan, however, its operating margin fell to 12 per cent from 18 per cent in [...]
G20 ministers pledge to do more to protect global economy from Brexit vote turmoil July 23, 2016 The Group of 20 nations will do more the bolster global economic growth in the coming months, ministers said today as the organisation met in the Chinese city of Chengdu. Central bankers and finance ministers from G20 nations are meeting this weekend to discuss challenges facing the global economy that have been made worse by the UK's [...]
Megabrew deal: US Department of Justice gives clearance to AB InBev’s takeover of SABMiller July 20, 2016 The US Department of Justice has given the green light to Anheuser-Busch InBev’s (AB InBev) proposed takeover of British drinks giant SABMiller with conditions. AB InBev, the world’s largest brewer, has agreed to divest SABMiller’s interest in MillerCoors to Molson Coors if the “megabrew” takeover goes ahead. In April, a US antitrust organisation flagged "serious competitive [...]
Industry veteran to head firm formed from Tata’s long products division July 20, 2016 British Steel, the company that emerged from the sale of Tata Steel's European long products business to Greybull Capital, announced today that it has appointed industry veteran, Roland Junck, as executive chairman. Junck, who has stints at the helms of Nyrstar and ArcelorMittal under his belt, will lead the new firm until a permanent chief executive is found. [...]
Theresa May has blessed the Arm acquisition, but fears are growing the new PM will be too interventionist on M&A July 18, 2016 Theresa May's new government gave its whole-hearted backing to the sale of Arm yesterday, but suggested it could block future deals if they are not considered to be “in the national interest”. May and her chancellor Philip Hammond hailed the £24bn purchase by Japanese giant Softbank, with Downing Street describing the deal as “a vote of confidence [...]
Arm Holdings is just the start of a great British asset sale July 18, 2016 The UK’s vote to leave the EU was seen by some Brexiteers as a chance to reclaim the country’s borders, draw up a new fortress UK, as well as make a protest vote against the rise in inequality after the financial crisis. But in the investment markets, the drawbridge has already been lowered. Thanks to [...]
The biggest acquisitions of British brands made by the Japanese July 18, 2016 Foreign firms have long been interested in breaking into the British market – and with sterling weak at the moment, the time is ripe for companies eager to make deals. With the confirmation of Japan’s SoftBank making a £24.3bn play for British tech firm Arm Holdings, we've decided to give you a brief breakdown of [...]