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Archives by Year:
Phone hacking may have included Downing Street
The attention surrounding News International – Rupert Murdoch’s media empire – intensified as allegations emerged that former Prime Minister Gordon Brown had personal data targeted by several News International publications. Brown on Tuesday accused Murdoch’s newspapers of employing criminals to obtain confidential details about him and his family. The former prime minister believes, while in […]
Nestlé agrees $1.7bn deal to buy sweet maker Hsu Fu Chi
Nestlé, the world’s largest food and drink group, announced on Monday that it intends to buy a majority stake in Chinese confectioner Hsu Fu Chi for $1.67bn or SFr1.4bn.
The Swiss food company, which produces Dreyer’s ice cream, Nescafe Coffee and chocolate bars including KitKat, stated it will acquire 60 percent of shares in Hsu […]
JPMorgan Chase agrees record $211.2m settlement
JPMorgan Chase reached a record $211.2m settlement late on Thursday with federal and state regulators on charges it manipulated a bidding process to gain business from municipalities. The agreed settlement by the bank’s Wall Street division with 25 states and various federal regulators will see the bank paying, among others, the SEC, the Justice Department […]
News of the World to close amid phone hacking scandal
News of the World, the British tabloid paper that sold to millions as “the best for news, showbiz and sport exclusives” is shutting down amid the escalating phone hacking scandal, the head of News International James Murdoch said late on Thursday. It is widely believed that shutting down the 168-year-old title is an attempt to […]
ThyssenKrupp to raise 1.7bn euro through share sale
German engineering and steel conglomerate ThyssenKrupp announced late on Wednesday plans to sell all of its remaining 49.48 million treasure shares accrued from its 2006 and 2008 buyback programmes. The share sale, which would generate €1.7bn based on Wednesday’s closing share price, will assist the company in paying off part of its €6.5bn debt. The […]
Record first half revenues for Tullow Oil
FTSE 100 oil company Tullow Oil published a trading and operation statement on Tuesday ahead of the group’s half-year result release showing record revenues of $1.05bn. The company raised its full-year production guidance as it said that high revenues were due to strong operational performance driven by production in Africa. The group indicated that average […]
VW takes majority stake in MAN
Volkswagen, Europe’s biggest automaker, has secured a majority stake in German-based heavy truck maker MAN SE, the company said on Monday. VW now holds 55.9 percent of the voting rights in MAN, which brings it a step closer to a tie-up with Swedish Scania. The company said it had made a mandatory offer to all […]
Axel Weber nominated as next UBS chairman
Swiss Bank UBS said on Friday it has nominated the former president of Deutsche Bundesbank, Axel Weber, for election to join its board in 2012 and to chair the board from 2013 onwards. Weber’s nomination to the board of directors will take place during its May 3 shareholders meeting according to the bank. Weber is […]
