Asahi eyeing up SABMiller’s Grolsch and Peroni January 12, 2016 Japanese brewer Asahi Group Holdings is eyeing up SABMiller’s premium brands Grolsch and Peroni as the UK drinks giant hopes to offload beer brands to ease regulatory scrutiny over its merger with AB InBev. Asahi confirmed today it was mulling over the deal, reportedly worth 400bn yen (£2.36bn), which would make it the largest overseas [...]
Aberdeen Asset Management chief executive Martin Gilbert predicts HSBC will keep its headquarters in the UK January 12, 2016 A top investor in HSBC has said that Europe's biggest bank is unlikely to move its headquarters from the UK. "The logistics of moving their headquarters out of London are so vast," Aberdeen Asset Management chief executive Martin Gilbert told Bloomberg TV this morning. "I suspect much as they might want to move their headquarters, [...]
Oil prices: Big banks sound alarm over outlook as they cut Brent crude and US WTI forecasts January 12, 2016 Some of the world's biggest investment banks have slashed their forecasts for oil, in the wake of a brutal new-year sell-off, with one institution warning it could crash to its lowest level in more than 18 years. Standard Chartered took the most negative view, warning other asset price movements could send the black stuff crashing to just [...]
Flexible working? Businesses miss out on best workers without it January 12, 2016 Businesses are missing out on hiring some of the best candidates by not hiring with flexible working in mind. Around 1.5m workers are currently under-employed in part-time jobs, settling for roles they are over qualified for because they offer flexible working patterns. The new findings in a report from recruitment site Timewise and the Joseph Rowntree Foundation [...]
Brent crude and US WTI oil slide towards $30 per barrel January 12, 2016 Oil prices slid towards $30 per barrel and to levels not seen in over a decade today. Brent crude, the global benchmark, fell over three per cent to a low of $30.43 per barrel earlier in the day, its lowest level since April 2004, before edging up to $31.12. West Texas Intermediate crude, the US benchmark, fell over three per cent to [...]
RBS urges clients to “sell everything” except high quality bonds ahead of “cataclysmic year” January 12, 2016 RBS has told its clients to "sell everything" and seek shelter in safe haven assets, at the beginning of what it expects will be a "cataclysmic year". RBS sent a note to investors urging them to sell everything except high quality bonds. "This is about return of capital, not return on capital. In a crowded hall, exit doors are small," it [...]
FTSE 100 index opens up on supermarkets as share price of Tesco, Sainsbury’s and Marks & Spencer rise following Morrisons results January 12, 2016 The FTSE 100 index opened higher this morning as housebuilders and supermarkets made gains. The UK's blue-chip index rose 0.2 per cent to 5,883 points, led higher by Tesco, Sainsbury's and housebuilder Berkeley Group. The index made gains despite continued scepticism about the state of the Chinese economy. Read more: And they’re off – Shire and Baxalta agree $32bn [...]
AO World post strong third quarter results as it says it is on track to launch in the Netherlands January 12, 2016 Electrical specialist AO World has reported revenue growing in the third quarter as it says the company is on track to launch in the Netherlands and progress has been made in Germany. The figures The company reported that UK revenue for the three months to the end of December were up 24 per cent year-on-year. Meanwhile, ao.com's revenue increased by 35 [...]
Virgin Money announces two new appointments to senior executive team, with Peter Bole to join as chief financial officer and Hugh Chater to take on the role of chief commercial officer January 12, 2016 Challenger bank Virgin Money has appointed former Tesco Bank finance chief Peter Bole as its new chief financial officer. In a statement today, the bank said he will join in 2017. Read more: Virgin Money replaces KPMG with PwC as auditors Glen Moreno, chairman of Virgin Money, said Bole is "an accomplished professional with first-class strategic financial management experience. "I [...]
And they’re off: Shire fires the starting gun on 2016’s takeover action with Baxalta deal January 12, 2016 Shire and Baxalta have agreed on their $32bn (£22bn) merger after six months of negotiations, sending Shire's share price plummeting 7.25 per cent yesterday. Despite impressive pre-market gains in New York, Baxalta shares also fell, down 1.55 per cent. Baxalta shareholders will receive $18.00 in cash and 0.1482 Shire shares per Baxalta share, amounting to [...]
