FTSE ends flat and Coca-Cola Hellenic loses its fizz
Bottling group hit by sell notes as analysts warn of difficult markets Leading shares ended marginally lower amid another decline in the Greek stock market – with banks losing another 30% – and despite a recovery in commodity prices. One of the biggest losers was Coca-Cola Hellenic Bottling, which has been under pressure in recent […]
After the Greek crisis, it's time for a new deal on debt
There would have been risks in restructuring Europe’s debt, but running those risks would have been well worth it The International Monetary Fund’s acknowledgement that Greece’s debt is unsustainable could prove to be a watershed moment for the global financial system. Clearly, heterodox policies to deal with high debt burdens need to be taken more […]
Business must collaborate – without it the world is brutal and terrifying
Companies should simultaneously compete and work together, says Jonathan Rowson, but there is a moral case for loading the dice to support greater collaboration I was recently introduced to Pandemic. Unlike zero-sum competition games such as chess, Pandemic is a cooperative board game that helps focus the mind on winning in the context of sustainability. […]
Shire pharmaceutical makes $30bn move for Baxalta
Potential merger could create global leader in treating rare-disease treatments with annual sales worth $20bn London-listed drug company Shire has made a $30bn (£19.2bn) unsolicited takeover offer for the rare-disease specialist Baxalta. Shire announced it was ready to pay $45.23 (£28.96) per Baxalta share, a 36% premium on Baxalta’s stock price on Monday. Merging the […]
RBS sell-off: George Osborne defends £1bn loss
Hedge funds snap up 60% of first tranche of shares as critics brand UK government’s share sale as ‘short-changing the taxpayer’ George Osborne has tried to justify a £1bn loss on the first sale of shares in Royal Bank of Scotland in the face of criticism from politicians and City analysts by saying it was […]
Brewer Adnams keeps up with craft boom with more beers
Suffolk company is producing a greater variety of beers to appeal to younger drinkers Adnams, the 143-year-old Suffolk brewer, is being forced to respond to the growing challenge of craft ales and independent brewers as the beer market becomes increasingly fickle. The company said sales of its biggest selling beer, Southwold bitter, fell during the […]
Should business leaders speak out more on climate change?
Join our live debate on Wednesday 5 August, 1-2.30pm BST to discuss the role of business in vocalising the environmental agenda 12.22pm BST When Richard Branson speaks out on tackling climate change does it help? With a growing number of CEOs publicly committing their companies to taking action on climate change, what difference can their […]
Foxtons falls on worries about outlook and online competitors
Analysts expect only patchy recovery from pre-election slowdown Foxtons is among the day’s biggest FTSE 250 fallers so far, on concerns that a post-general election bounce may not turn out to be that strong for the London-focused estate agency. Analysts at Barclays issued an underweight rating on Foxtons, albeit edging up their price target from […]
UK construction sector growth slows
Markit survey confounds more optimistic forecasts with loss of momentum in housebuilding and civil engineering Growth in Britain’s construction industry has slowed unexpectedly in July, hurt by a loss of momentum in housebuilding and civil engineering, according to a new survey that highlighted the economy’s reliance on the services sector. The monthly Markit/CIPS UK construction […]
Reserve Bank of Australia keeps the cash rate at 2% – live
RBA keeps it steady at historic low of 2%. Follow reaction with our live coverage 2.40pm AEST Each statement by the RBA generally involves a fair degree of cut and paste, and this one is almost verbatim the same as last month’s. But there is a slight difference in the paragraph on the domestic economy. […]