CADBURY SHARES UP ON HERSHEY NEWS
Cadbury shares gain after the Wall Street Journal reported that Hershey is in talks with banks to line up billions of dollars to launch a rival bid to Kraft's $16 billion offer, in a possible joint offer with Ferrero.
AHOLD BEATS VIEWS, STARTS COST-CUTTING
Food retailer Royal Ahold posts a better-than-expected 22% rise in 3Q net profit, but launched a 350 million cost-cutting program and warned competition will intensify in the holiday season.
AHOLD CEO SEES COMPETITION HEATING UP
Dutch retailer Ahold NV (AH.AE) sees fiercer competition in the fourth quarter as consumers cut their spending in the wake of the recession, Chief Executive John Rishton said Wednesday.
AHOLD HAS NEVER TALKED TO DELHAIZE ABOUT MERGER
Food retailer Royal Ahold NV (AH.AE) Chief Executive Officer John Rishton said Wednesday he has never spoken to Belgian supermarket operator Delhaize Group (DEG) about a merger.
AXA ASIA PACIFIC STEPS UP TAKEOVER DEFENSE
AXA Asia Pacific Holdings tells investors a joint takeover proposal from its French parent AXA SA and Australian wealth manager AMP Ltd. undervalues the company.
AIB RAISES BAD DEBT CHARGE TO 5.3B
Allied Irish Banks raises its bad debt charge for 2009 by 1 billion to 5.3 billion due to loans being transferred to the National Asset Management Agency or "bad bank" in the wake of the country's property crash.
EU CLEARS LLOYDS BANKING RESTRUCTURING PLAN
The European Commission clears Lloyds Banking Group's restructuring plan, which it said will leave behind a much more streamlined bank viable for the long term.
LAND SECURITIES READY FOR BUYS AMID RECOVERY
Landlord and developer Land Securities is preparing acquisitions and investments amid a phase of recovery, but posts a 2.7% fall in its asset value per share for 1H. The company sees property values rising in the next five years.
WOLSELEY SEES CONTINUED MARKET DETERIORATION
U.K.-based building materials company Wolseley PLC (WOS.LN) on Wednesday said its commercial and industrial markets will continue to deteriorate in the short term, even though residential markets are starting to stabilize.
BARNES & NOBLE ADOPTS POISON PILL
Barnes & Noble's board adopts a shareholder rights plan in response to the recent rapid accumulation of its stock. It doesn't name the buyer of the shares but according to regulatory filings, billionaire investor Ronald Burkle recently scooped up $80.9 million of Barnes & Noble stock.
ITV NAMES CHAIRMAN, CLEARS WAY FOR CEO
ITV names former Asda head Archie Norman as its new chairman, ending a lengthy search beset with problems, and enabling the company to now focus on getting a new chief executive in place. Shares open up.
EU APPROVES KBC'S RESTRUCTURING PLAN
The European Commission approves a radical overhaul of the Belgian bank and insurance company KBC Group, requiring the bank to sell off a large chunk of its non-core assets.
EXPERIAN PROFIT SLIPS 35%, PLANS EXPANSION
U.K. credit-checking company Experian, which Wednesday posted a 3.5% fall in 1H net profit, is planning to aggressively expand operations overseas to generate new sources of earnings.
EXPERIAN PLANS MORE EXPANSION IN EUROPE, ASIA
U.K. credit-checking company Experian PLC (EXPN.LN) said Wednesday it is boosting its expansion efforts overseas to generate new sources of earnings.
OCE SHAREHOLDER OPPOSES CANON TAKEOVER
Orbis Portfolio Management, a large shareholder in Oce NV, says it will oppose Canon's bid to take over the Dutch printer maker because the offer doesn't reflect the value of Oce's assets.
US STILL MUM ON ANTITRUST APPROVAL, SAYS BA
The head of British Airways in the Americas says that the airline hasn't heard from U.S. regulators since they missed a key deadline to rule on its antitrust application with American Airlines and Iberia.
ANTAM DROPS PLAN TO BUY NEWMONT STAKE
Gold and nickel miner Aneka Tambang decids to drop its plan to buy a 14% stake in Newmont Mining's Indonesian unit, Antam President Director Alwin Syah Loebis says.
MUFG SELLING ABOUT $11B SHARES, 1H NET UP 53%
Mitsubishi UFJ Financial Group will issue about $11 billion in new shares in what would be the biggest-ever share sale by a Japanese financial institution. Also, first-half net profit improves 53% from a year earlier.
MUFG, MORGAN STANLEY SAID TO DELAY BROKERAGE MERGER
Mitsubishi UFJ Financial Group Inc. (8306.TO) and Morgan Stanley (MS) have decided to delay and amend their initial plans to create a new securities firm by merging their brokerage units in Japan, people familiar with the matter said Wednesday.