Editor's Picks
PotashCorp puts BHP snub in writing
Monday 23 Aug 2010
Potash Corporation of Saskatchewan has formally rejected the hostile $40bn (£26bn) offer made by Anglo-Australian miner BHP Billiton last week.
BHP faces hard slog to win Canadian prize
Monday 23 Aug 2010
Miner BHP Billiton is wheeling out its top dealmakers this week to make sure Canadian regulators and PotashCorp shareholders back its $40bn bid for the fertiliser company.
Robert Swannell new M&S chairman
Monday 23 Aug 2010
Robert Swannell, a former banker, has been confirmed as the new chairman of Marks & Spencer on Monday.
Robert Swannell new M&S chairman
Monday 23 Aug 2010
Robert Swannell, a former banker, has been confirmed as the new chairman of Marks & Spencer on Monday.
Hiscox hit by catastrophe losses
Monday 23 Aug 2010
A combination of the UK winter freeze, the earthquake in Chile, Windstorm Xynthia and the Deepwater Horizon disaster plus lower investment returns knocked first half income at underwriter Hiscox.
Bovis to reinstate dividend payments
Monday 23 Aug 2010
Housebuilder Bovis plans to resume dividend payments at end of the year after swinging to a half year profit.
HSBC bids for Old Mutual's Nedbank
Monday 23 Aug 2010
Old Mutual, the Anglo-South African insurer that’s overhauling its business following the financial crisis, has received a bid from HSBC for up to 70% of Nedbank. The London-listed firm is a majority owner of South Africa's fourth-biggest bank, currently worth over $9bn (£6bn), with a 52% stake. Earlier this month, it agreed to sell its US Life operations to US hedge fund Harbinger for $350m
City slickers rake it in as M&A nears £50bn this week
Friday 20 Aug 2010
Fears of a “double dip” recession had investors heading for the hills this week, but the M&A industry is thriving as the resource sector heads for a record year of deal-making. Major league companies have grown tired of sitting on their cash piles and believe now is the time to start picking up bargains.
Wannabe bank NBNK bags £50m from IPO
Friday 20 Aug 2010
NBNK Investments has big ambitions to establish itself as a rival to the big banks on Britain’s high streets. Today’s £50m float on AIM is just the start, it hopes.
Former banker to replace M&S's Stuart Rose
Friday 20 Aug 2010
Marks & Spencer has lined up a former banker to become its new chairman, according to a report on Sky News. Robert Swannell, an advisor and former chairman of CitiGroup’s European investment bank, will take over the top job at the clothes and food retailer when Sir Stuart Rose steps down next year, the report said
China's Sinochem has eye on Potash Corp
Friday 20 Aug 2010
Chinese-state owned chemical giant Sinochem is paying “close attention” to BHP Billiton’s $40bn hostile bid for Potash Corp.
Mitchells & Butlers sells pubs for £373m
Friday 20 Aug 2010
Mitchells & Butlers is selling a portfolio of 333 non-core pubs for £373m in cash to a private equity firm so that it can focus on the informal eating out market.
Hostile Koreans bid £1.9bn for Dana
Friday 20 Aug 2010
South Korea's state-run oil company KNOC has launched a hostile £18 a share cash bid for Dana Petroleum, valuing the Aberdeen-based oil company at £1.87bn. “We believe that our offer of 1,800 pence per share fully and fairly reflects all of Dana's recently announced and ongoing developments, together with its exploration potential,” said Seong-Hoon Kim, senior executive vice president of KNOC
US close: Faltering economy hits shares
Thursday 19 Aug 2010
Disappointing economic data raised concerns about the sustainability of the economic recovery and sent Wall Street into retreat with no Dow Jones 30-share constituents showing any gains on the day.
Intel pays £5bn for McAfee
Thursday 19 Aug 2010
US chipmaker Intel has agreed to pay $7.68bn (£5bn) in cash for antivirus software company McAfee. Its $48 a share offer is almost 60% more than last night’s closing price and ranks as the firm’s biggest deal ever. McAfee president and CEO Dave DeWalt warned millions of new threats are appearing every month
GM sets wheels in motion for flotation
Thursday 19 Aug 2010
General Motors, the car maker that had to be rescued by the US government during the economic crisis, has paved the way for its return to the stock market.
Mastercard buys DataCash for £333m
Thursday 19 Aug 2010
Internet payment services group DataCash has been snapped up by the US credit card giant MasterCard for £333m.
UK's debt mountain at all-time high
Thursday 19 Aug 2010
Britain’s net debt stands at a new record after the government borrowed another £3.8bn last month.
July retail sales rise more than expected
Thursday 19 Aug 2010
The football World Cup and warm weather had Britons flocking to the shops in July despite continuing economic uncertainty, new figures from the Office of National Statistics (ONS) show. Sales rose by 1.1% in July, well ahead of expectations, led by purchases in non-food based shops, which were up by 1.8%. Sports shops and stores selling items like watches and jewellery also did well
Dimension Data Q3 revenue up 22%
Thursday 19 Aug 2010
IT firm Dimension Data, which recently agreed to a takeover by Japan's NTT, said quarterly trading remained strong and is confident of reaching single digit constant currency revenue growth for the full year.
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