Macquarie gearing up to sell Thames Water in a deal that could reach more than £3bn April 10, 2016 Australian bank Macquarie is gearing up to sell British utilities giant Thames Water in a deal that could reach more than £3bn. Macquarie, which acquired Thames Water in a debt-fuelled deal with Germany’s RWE in 2006, has hired investment bank Nomura to assist with the sale of its 26 per cent stake in Britain’s largest water company, [...]
Tourist boom putting pressure on Cuba’s beer industry April 10, 2016 The influx of American tourists into Cuba may have worked wonders for its travel and leisure industry, but the boom has taken a toll on the country’s main brewer. In recent weeks beer sellers have been running out of the Caribbean island’s two favourite brands, Cristal and Bucanero. The shortages have been fuelled by the increase [...]
Treasury planning crackdown on bitcoin and cryptocurrency anonymity in bid to tackle criminal use of digital currencies April 10, 2016 Ministers at the Treasury are planning a shake-up in the world of cryptocurrencies that will mean bitcoins and other virtual currencies can no longer be purchased anonymously. The change in the law, which the Treasury is preparing to introduce next year, will subject bitcoin exchanges and wallets to the same regulations as high street banks, [...]
Stock Spirits Group board will continue to pursue M&As despite shareholder rebellion from Luis Amaral April 10, 2016 Stock Spirits Group’s board of directors has said the company will not change its strategic direction, despite facing the beginnings of a shareholder rebellion last week. The major shareholder of the London-listed vodka producer, Portuguese retail tycoon Luis Amaral, wrote to investors last Tuesday telling them to oust chief executive Chris Heath at the company’s annual [...]
Domino’s Pizza warns it could be hit with extra slice of retrospective tax April 3, 2016 Domino’s Pizza has warned it could be slapped with a retrospective tax bill related to past bonus schemes dating back to 2003. In its annual report, the fast food chain revealed it is in talks with HM Revenue & Customs over some of its bonus plans between 2003 and 2010, which used trusts to award [...]
Tobacco firms Philip Morris, British American Tobacco launch case against EU Tobacco Products Directive April 3, 2016 Major tobacco firms have launched a legal challenge against a European directive that could increase the price of the cheapest packs of cigarettes by 70p. Philip Morris International is leading the challenge in the European Court of Justice (ECJ) against the revised EU Tobacco Products Directive, also known as TPD2, which was adopted in May 2014 but has [...]
AB InBev brews $350m bonus for top bosses if the company hits ambitious 2020 revenue targets April 3, 2016 Senior managers at Anheuser-Busch InBev (AB InBev) will share a bonus pool of $350m (£246m) if the company hits ambitious revenue targets by 2020. AB InBev, the world’s largest brewer, will pay out the bonus pool to 65 of its top managers if revenues reach $100bn in four years’ time, under its “2020 Dream Incentive Plan”, the company [...]
Weather shocks could threaten UK wine industry, despite climate change making Britain more viable for the industry April 1, 2016 The idea of climate change turning the UK into a viable wine-making region may have boosted the industry in recent years, but weather shocks could threaten its overall productivity. Cold snaps, sharp frosts and downpours could all disrupt the UK's home-grown wine industry, according to research from the University of East Anglia, which found that [...]
Anbang walks away from Starwood Hotels deal due to “market considerations” pushing hospitality group’s share price down in after hours trading March 31, 2016 China's Anbang Insurance is walking away from its proposed $14bn (£9.7bn) takeover of Starwood Hotels & Resorts, citing "market considerations". "We were attracted to the opportunity presented by Starwood because of its high-quality, leading global hotel brands, which met many of our acquisition criteria, including the ability to generate consistent, long-term returns over time," Anbang said in [...]
Manolo Blahnik stepping into world of e-commerce with the help of boutique platform Farfetch March 31, 2016 Iconic shoemaker Manolo Blahnik has launched its first e-commerce site utilising Farfetch's new white label service. Farfetch, an e-commerce site for selected boutiques around the world, will use its Black and White service to power the brand's online sales. Its new division will offer monobrand e-commerce sites to luxury brands and Manolo Blahnik's was the first to [...]
