Business NEWS

US-based IntercontinentalExchange tables final bid for London Metal Exchange

US futures exchanges operator IntercontinentalExchange Inc (NYSE:ICE) has made a final bid of GBP1.3bn (USD2bn/EUR1.6bn) to buy the London Metal Exchange (LME), according to a report in the Sunday Telegraph. Hong Kong Exchanges … Continue reading “US-based IntercontinentalExchange tables final bid for London Metal Exchange”


France’s Saint Gobain acquires UK insulation firm Celotex

French building materials and glass producer Compagnie de Saint-Gobain SA (EPA:SGO) announced on Friday it had agreed to purchase UK insulating foam producer Celotex Group Ltd, to enhance its presence in the particular … Continue reading “France’s Saint Gobain acquires UK insulation firm Celotex”


Vodafone and Telefonica to establish one shared grid in Britain

Mobile phone operators Vodafone and Telefonica (owners of O2) on Thursday jointly announced plans to establish one shared grid in Britain. The purpose of the new shared grid in the UK is said … Continue reading “Vodafone and Telefonica to establish one shared grid in Britain”


E.ON sells gas grid to a Macquarie-led consortium for €3.2bn

German utility E.ON AG (ETR:EOAN) said it had agreed to sell its gas grid in Germany Open Grid Europe (OGE) to a consortium of Macquarie European Infrastructure Fund 4, Infinity Investments, British Columbia … Continue reading “E.ON sells gas grid to a Macquarie-led consortium for €3.2bn”


EC gives oil majors the green light to take joint control of Angola LNG

The European Commission said on Wednesday it had given its consent to the deal by oil and gas companies BP plc (LON:BP) in the UK, Chevron (NYSE:CVX) in the US, Italian Eni SpA … Continue reading “EC gives oil majors the green light to take joint control of Angola LNG”


Sainsbury’s reports growth in sales and market share in 2011

UK retailer J Sainsbury plc (LSE:SBRY) reported today a 6.8% increase in total sales for 2011 to GBP24.5bn and said that it outperformed the market and increased its market share. Profit before tax … Continue reading “Sainsbury’s reports growth in sales and market share in 2011”


UK retail sales hit by wettest April on record

Retail sales in the UK were were dampened by the wettest April on record, according to a report released today by the British Retail Consortium (BRC). The latest BRC-KPMG Retail Sales Monitor reveals … Continue reading “UK retail sales hit by wettest April on record”


AstraZeneca CEO David Brennan announces early retirement as first quarter profit falls 38%

Anglo-Swedish pharmaceutical company AstraZeneca plc (LSE:AZN) (STO:AZN) (NYSE:AZN) announced today that its chief executive, David Brennan, has decided to retire and step down from the board at the start of June. Executive director … Continue reading “AstraZeneca CEO David Brennan announces early retirement as first quarter profit falls 38%”


Supermarket giant Tesco reports declining profits in home market

UK-based supermarket retailer Tesco plc (LSE:TSCO) announced today an increase in group profit for the year to 25 February 2012 but a decrease in profit generated in its home market. Pre-tax profit for … Continue reading “Supermarket giant Tesco reports declining profits in home market”


EU expresses concerns over fund managers

Concern over pan-European regulations which are being perceived as harmful to both business and private equity dealings with the US and Asia has been expressed by fund managers reports City index. Citing the … Continue reading “EU expresses concerns over fund managers”


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