Aviva is hoping to sell off a stake in its Dutch subsidiary company Delta Lloyd in a bid to raise between €1 billion and €1.6 billion. The floatation, which will occur on Euronext’s Amsterdam exchange in November, will be Europe’s largest in more than a year.
Source: The Guardian
Cadbury’s hopes of attracting a bidding war against its current £10.2 billion offer from Kraft are fading fast after key potential bidders signalled a lack of interest. Nestlé, Unilever and Pepsi have all indicated their lack of interest, while Kraft remains a viable bidder, after banks such as Barclays and HSBC announced they were willing to fund the deal.
Source: Daily Mail
Steve Ballmer, the chief executive of Microsoft, has admitted that the reputation of the company has never recovered following the launch of Vista, the operating system that caused machines to crash when performing simple functions. Sales of PCs have fallen 10 to 15 per cent, according to Ballmer, who is
gearing up for the launch of the new Windows operating system on 22 October.
Source: The Daily Telegraph
Diageo is the latest in a line of companies to withdraw its ads from the Fox News show hosted by the controversial commentator Glenn Beck. The drinks giant’s decision follows that of Waitrose, which also pulled its ads for the show that is broadcast on Sky TV in the UK. Tesco and Kellogg have yet to retract their commercial ties with the show.
Source: The Independent
The Royal Bank of Scotland has come under pressure from the European Commission to sacrifice up to 10 per cent of its small business customers as a penalty for the billions of pounds it has received in state aid. RBS, which has around one million small business customers, would be forced to give around 100,000 of these up to compensate for its 70 per cent state ownership.
Source: The Times