Business

Canada’s banks set up fund to finance small businesses

* Ex CPPIB boss Wiseman says fund can be catalyst for growth * Fund worth C$500 mln initially, could rise to C$1 bln * Similar UK fund has proved successful * Fund will take minority stakes and invest over long-term * Pension funds could also invest -CIBC CEO (Adds comments from former CPPIB CEO Mark Wiseman) By Matt Scuffham and ... Read More »

20 Things Your Business Still Doesn’t Get About Hyperlocal Marketing

Surefire Social is rebranding and becoming Surefire Local, a marketing technology platform with a strong focus on hyperlocal marketing. In addition, the company has acquired Atlanta-based Promio to strengthen its offering. The company isn’t totally changing its direction though. Surefire Social already provided a number of different marketing services that could benefit local businesses, including those with a storefront and ... Read More »

Austria to sue Airbus over Eurofighter contract

Austria is to sue Airbus and the Eurofighter consortium over a 2 billion-euro (£1.7bn) deal to buy Typhoon warplanes. Its defence ministry said that following an investigation it believed Austria had been misled over the purchase price. It could sue the two companies for 1.1bn euros, it said. Airbus said the allegations had taken it by surprise and that it ... Read More »

KitKat maker Nestle misses forecasts as profit falls

Nestle, which makes KitKats, Nescafe and Purina pet food, has said it will steepen its cost-cutting plan after unveiling disappointing results. Net profit for 2016 fell to 8.5bn Swiss francs (£6.78bn) from 9.1bn a year earlier. Analysts had expected 9.59bn francs’ worth of profit. Sluggish food inflation in most of its markets and easing demand in emerging markets saw sales ... Read More »

£900 coat maker Canada Goose to sell shares

Canada Goose, maker of Arctic coats costing as much as £900, has applied for a stock market listing in New York and Toronto. The company, part-owned by private equity firm Bain Capital, wants to pay off some of its debt, it says. It was founded in 1957 in Toronto and is known for its coyote fur-lined hooded jackets. The company ... Read More »

Marmite owner Unilever sees no merit in Kraft takeover

Unilever, whose brands include Marmite and PG Tips, has strongly rejected a takeover bid from US giant Kraft Heinz. The UK-based household goods maker said it saw “no merit, either financial or strategic” in Kraft’s offer, worth about $143bn (£115bn). But Kraft, which makes Heinz ketchup, indicated it would continue working on a deal, sending shares in Unilever surging more ... Read More »

Kraft Heinz approaches consumer goods giant Unilever about possible merger

US food giant Kraft Heinz has approached Unilever about a merger that would represent one of the biggest tie-ups in corporate history, but the Anglo-Dutch company declined a deal. “Kraft Heinz confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a mission of long-term growth and ... Read More »

Kraft Heinz to pursue merger despite Unilever rejection

U.S. food company Kraft Heinz Co has proposed a merger with $125 billion (£100 billion) Unilever in what would be one of the biggest deals ever, but the Anglo-Dutch consumer goods company has declined, Kraft said on Friday. A deal with Unilever, which had a market value of $125 billion before its shares spiked, would add Hellmann’s mayonnaise, Ben & ... Read More »

Retail sales fall unexpectedly in January

Retail sales slipped back unexpectedly in January, following on from December’s dip. Official figures, from the Office for National Statistics (ONS), showed retail sales volumes dropped by 0.3% compared with the previous month, well below the 0.9% rise expected. The ONS said the data indicated the first signs of a fall in the underlying trend since December 2013. It said ... Read More »

Allianz plays down talk of big deals as hands cash to investors

Allianz (ALVG.DE) played down talk of it making a major acquisition any time soon as its chief executive Oliver Baete said on Friday the German insurer could grow without deals. The Munich-based group said it would return up to 3 billion euros (£3 billion) to shareholders, but made clear this did not exclude the possibility of it being involved in ... Read More »