Foster’s $10bn takeover bid rejected
Foster’s, Australia’s biggest brewer by sales, rejected a $9.51bn cash offer from London-based SABMiller on Tuesday, saying the bid undervalued the Australian company.The unsolicited and unconditional offer of A$4.90 per share for the firm was an 8.2 percent premium on the closing price of A$4.53. SabMiller CEO Graham MacKay confirmed on Tuesday that it made […]
Europe delays €12bn aid packet to Greece
European governments chose to withhold the decision on whether an additional aid payment of €12bn should go to the Greek government, saying the nation needs to put a strict austerity package in place first.
Luxembourg’s Prime Minister, Jean-Claude Juncker, who chairs the 17-strong group of European finance ministers, said: “We agreed that there should be […]
Nasdaq OMX bids for stake in LCH. Clearnet
New York-based exchange operator Nasdaq OMX confirmed on Friday it is bidding for a minority stake in leading Anglo-French swaps clearing house LCH.Clearnet.
The bid forms part of Nasdaq’s strategy to expand beyond the US, the company said.
Nasdaq CEO Robert Greinfeld spoke to journalists at the Federation of European Securities Exchanges conference in Athens, saying: […]
Barclays targets £6.4bn extra revenue by 2013
Barclays Bank unveiled plans to increase annual revenue by as much as £6.4bn in the next two years in an attempt to increase shareholder returns, CEO Bob Diamond said late on Wednesday. In a statement Barclays outlined plans to make an additional income of between £4.3bn and £6.4bn by 2013, which would mean a 20 […]
Nokia and Apple settle patent dispute
Finnish phone maker Nokia has won its long-running patents case against Apple and will receive a one-off €800m payout from the iPhone maker in addition to royalties. The patent case was brought by Nokia against Apple in October 2009 and related to its patented technologies used in smartphones. The settlement signed on Tuesday through a […]
IMF drops Fischer due to age restriction
Stanley Fischer, the 67-year-old governor of the Israeli central bank, was notified late on Monday by the Board of Directors of the IMF that his bid to head the IMF has been disqualified because of his age. Fischer was told on Monday night that the IMF would not regard him for the managing director position […]
Stanley Fisher in race for IMF job
Former IMF deputy chief and Bank of Israel governor, Stanley Fischer, has emerged as a candidate to challenge Mexico’s Central Bank governor Agustin Carstens and French finance minister Christine Lagarde. Fischer announced a formal bid to head the IMF at the weekend, saying his training as an economist would be an advantage to the candidacy. […]
Supreme Court upholds $290m verdict against Microsoft
The US Supreme Court ruled against Microsoft in its high profile appeal of a $290m patent case verdict against Canadian company i4i. The verdict brings to an end a long-lasting legal battle which saw i4i sue Microsoft in 2007, saying the technology which allows text manipulation in the Microsoft Word application belonged to i4i. According […]
Data breach confirmed by Citigroup
Citigroup said today that computer hackers may have gained access to data on hundreds of thousands of card customers in North America. An estimated one percent of customer accounts had been compromised but no actual numbers were given by the company. City Cards, which is one of the biggest credit card providers with over 21 […]
No India assurance for Lagarde IMF bid
The finance minister of India, Pranab Mukherjee, said he offers “no assurance” that India will support French finance minister Christine Lagarde in her bid to become the head of the IMF. Lagarde met Mukherjee and India’s Prime Minister Manmohan Singh in Delhi as part of her tour to gain support for her bid within emerging […]
