Consumer caution to continue, says Greencore
24th May 2011 14:43
The cost of convenience foods group Greencore's rebuffed courtship of Northern Foods put a serious dent in the Irish firm's interim profits. Profit before tax and exceptional items surged to €20.13m in the half year to 25 March, from €10.7m the year before. However, the company's exceptional cha
Read moreMonday newspaper round-up: RBS, LSE, IMF, The Prelude
23rd May 2011 06:14
Royal Bank of Scotland is braced for the City regulator to refer to Sir Fred Goodwin's alleged affair with a colleague in its long-awaited report into the bank's collapse. As the fallout from Sir Fred's superinjunction spreads, the Financial Services Authority (FSA) has contacted the bank for detail
Read moreGreencore bows out of Northern Foods chase
9th Mar 2011 15:46
Irish food group Greencore has waved the white flag in its battle with Boparan Holdings for control of Goodfellas pizza and Fox's biscuits maker Northern Foods. The Irish ready meals provider had agreed a merger with Northern Foods in November 2010 only to see the wedding gatecrashed by food magnat
Read moreGreencore seeks partners for Northern Foods assault
17th Feb 2011 18:16
Speculation is growing that Irish food group Greencore is poised to re-enter the battle for Northern Foods after holding discussions with potential private equity partners. The Telegraph reported Greencore was allowed this week to look at figures on how Northern Foods has been trading recently ahe
Read moreTuesday newspaper round-up: Egypt, ECB, Marks & Spencer...
1st Feb 2011 06:42
Oil prices broke through the $100 a barrel level for the first time in more than two years, amid market fears that Egypt's turmoil will hit oil flows. Although both the Suez Canal and a pipeline linking the Red Sea with the Mediterranean continue to operate, the popular uprising to unseat Hosni Mub
Read moreGreencore continues to ponder Northern plans
31st Jan 2011 11:39
Irish food producer Greencore says that it is considering its options now that BH Acquisitions has trumped its all share offer for Northern Foods. Greencore says that the logic of merging with Fox's biscuits maker Northern Foods to create Essenta Foods remains sound. It also "recognises the import
Read moreSector movers: Premier Foods lower after yesterday's sale
25th Jan 2011 12:50
The food producing and processing sector is lower Tuesday after a busy day yesterday. Premier Foods, whose most famous brands include Hovis bread and Sharwood's cooking sauces, announced Monday that it has sold its vegetarian foods business to a private equity consortium for £205m as it seeks to re
Read moreLondon close: Shares jump after sluggish start
24th Jan 2011 16:46
Shares put their early indecisiveness behind them to close with good gains after a decent start on Wall Street. Banks were weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political
Read moreLondon afternoon: Stocks edge higher
24th Jan 2011 14:49
After a morning of indecision, leading shares pushed on over the lunch time session, despite the weakness of the banking sector. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms
Read moreLondon midday: Banks hold back FTSE 100
24th Jan 2011 12:13
Shares are still seeking direction as banks fall back. The sector is weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled the mood. RBS
Read moreLondon open: Cautious start to week
24th Jan 2011 08:51
London is muddling along in the early exchanges despite the decent finish to last week on Wall Street. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems i
Read moreDumped Greencore mulls improved deal for Northern Foods
24th Jan 2011 07:23
Irish foods group Greencore may be prepared to improve its offer for biscuits and pizza group Northern Foods after the agreed merger between the two was scuppered by Indian firm Boparan's £342m offer late Friday. In a statement Greencore said a combination with Northern Foods still represents a com
Read moreMonday newspaper round-up: Barclays, Cocoa, Centrica...
24th Jan 2011 06:42
Bob Diamond will stamp his authority on Barclays next month, when the incoming chief executive announces a radical overhaul of the way it pays its top bankers. According to people close to the plans, Mr Diamond aims to use innovative bonds - so-called contingent convertibles, or cocos - to pay a la
Read moreLondon close: Shares end week on a high
21st Jan 2011 16:59
London's leading share index went into the weekend on a high after falls the previous two days. Royal Bank of Scotland led the top share index higher after the FT reported that bank executives and officials at the Treasury are talking about ways for the bank to exit the toxic asset scheme. After
Read moreLondon afternoon: Miners lead revival
21st Jan 2011 14:35
After yesterday's triple-digit fall the Footsie has clawed back around half of those losses, helped by a strong performance from miners. Weather conditions in Australia have improved enough to allow Rio Tinto to end the force majeure event that's disrupted supplies of aluminium from Boyne Smelters
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