British brewer SABMiller Plc. (SAB.L, SABMRY.PK) Wednesday said its board rejected the revised offer from Belgian brewer Anheuser-Busch InBev NV, known as AB InBev (BUD, AHBIF.PK), stating it still very substantially undervalues SABMiller, its unique and unmatched footprint, and its standalone prospects.
The Nobel Prize in Chemistry has been awarded to a trio of scientists for their work using molecular level mapping to show how cells repair damaged DNA and to safeguard genetic information.
U.K. industrial output rebounded at a faster-than-expected pace in August, driven by oil extraction and transport equipment. Industrial production grew 1 percent from July, reversing a 0.3 percent drop in the prior month, data from the Office for National Statistics showed Wednesday. A similar rate of strong growth was last seen in February 2014. Economists had forecast only a 0.3 percent rise.
Shares of Tesco Plc. were losing around 2 percent in the early morning trade in London, after the British supermarket chain reported a net loss in its fist half compared to a profit last year, mainly reflecting weak sales as well as loss from the discontinued Korean business. On a pre-tax basis, the company turned around to profit.
Belgian brewer Anheuser-Busch InBev (AHBIF.PK, BUD) Wednesday boosted its offer to acquire SABMiller Plc. (SBMRY.PK, SAB.L) to 42.15 pounds per share in cash, with a partial share alternative available for about 41 percent of the SABMiller shares.
Global growth remains 'moderate and uneven' amid the modest pick-up in advanced economies and the slowdown in emerging markets, and the more pronounced downside risks call for policy action to boost economic expansion, the International Monetary Fund said, as it cut its world growth forecasts for this year and next.
U.K. house prices dropped at the fastest pace in more than a year in September, survey data from the Lloyds Banking Group's Halifax division revealed Tuesday. House prices slid 0.9 percent month-on-month in September, confounding expectations for a gain of 0.1 percent. This was the biggest fall since April 2014, when prices slid 1.3 percent.
German industrial orders unexpectedly declined for a second straight month in August, as holidays damped domestic demand, while the sharp drop in non-EU bookings suggested that exports are likely to be weak in coming months and that companies in the biggest Eurozone economy are increasingly hurt by the weakness in the emerging markets, especially China.
John Wood Group Plc, an energy services company, Tuesday announced the appointment of Robin Watson as chief executive officer, effective January 1, 2016. Watson succeeds Bob Keiller, who is retiring on December 31.
British service sector growth unexpectedly slowed for a third consecutive month in September to its lowest level in nearly two-and-a-half years in September, hurt by a slump in new business growth, signaling that economic performance was soft at the end of the third quarter. The Markit/CIPS UK Services Purchasing Managers' Index dropped to 53.3 from 55.6 in August, survey results showed Monday.