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Archive for January 8th, 2008Diageo sees main hurdles in Europe for Absolut bidPosted by UK Economy News
In UK financial news
8Jan 08 Diageo , the world's biggest alcoholic drinks group, believes it will face the toughest challenges to its bid for Absolut vodka, which is worth up to $7 billion (3.54 billion pounds), from antitrust regulators in Europe.
Read full story British brewer ups pressure on Carlsberg over Russian venturePosted by UK Economy News
In UK financial news
8Jan 08 British brewer Scottish and Newcastle said Tuesday it has submitted a detailed claim to an arbitration court to secure control of Russian joint venture BBH amid a bitter row with co-owner Carlsberg.
Read full story Comments Off Gold hits record above $876 as fund cash pours inPosted by UK Economy News
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8Jan 08 Gold surged to a record high above $876 per ounce on Tuesday as investors poured into the market, confident of further upside in the metal with support from a weaker dollar and firm oil.
Read full story Comments Off Oil rebounds after 3-day fallPosted by UK Economy News
In UK financial news
8Jan 08 Oil halted a three-day slide to rise above $97 a barrel on Tuesday, lifted by a threat of violence in Nigeria's oil region and expectations of a further drop in crude stocks in top consumer the United States.
Read full story Comments Off Microsoft says it will bid for Internet search groupPosted by UK Economy News
In UK financial news
8Jan 08 US software giant Microsoft said on Tuesday it would offer to buy the Norwegian Internet search company Fast Search and Transfer for 1.2 billion dollars (836 million euros).
Read full story Comments Off Bear Stearns chief executive reportedly stepping downPosted by UK Economy News
In UK financial news
8Jan 08 James Cayne, chief executive of US investment bank Bear Stears, is set to step down as the mortgage market downturn and credit crunch continue to dent the firm's finances, reports said Tuesday.
Read full story Comments Off British Gas yet to decide on any price hikesPosted by UK Economy News
In UK financial news
8Jan 08 British Gas, the UK's biggest energy supplier, has not yet decided whether to increase power and gas prices and has no plans to introduce regional gas pricing, a spokesman for the company said.
Read full story Comments Off Bear Stearns may become takeover target amid unrestPosted by UK Economy News
In UK financial news
8Jan 08 Bear Stearns management shake-up could make the investment bank a takeover target, but the spectre of more write-downs and possible legal entanglements from the subprime credit crisis might keep suitors on the sidelines, analysts said on Tuesday.
Read full story Comments Off S&N says slightly higher bid unlikely to winPosted by UK Economy News
In UK financial news
8Jan 08 A slightly higher offer from predators Carlsberg and Heineken is unlikely to be attractive, bid target Scottish & Newcastle Plc (S&N) said on Tuesday, citing the value of its Russian brewing joint venture.
Read full story Comments Off Danish shipping group Maersk Line plans to cut 2,000-3,000 jobsPosted by UK Economy News
In UK financial news
8Jan 08 The world's largest shipping group, Maersk Line of Denmark, is to cut between 2,000 and 3,000 jobs following disappointing results in 2007 and 2006, its parent group announced Tuesday.
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