News
Coty withdraws $10.7bn bid for Avon
Fragrance firm Coty has withdrawn its $10.7bn (£6.6bn) bid for Avon Products, saying the US beauty firm had taken too long to respond to its offer.
Coty raised its bid, first made in March, last week, but warned that it would withdraw if it did not receive a response by Monday night.
"Two months is enough," said Coty chairman Bart...
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UK interest rates held at 0.5%
The Bank of England has continued to hold UK interest rates at a record low of 0.5% and is not extending its quantitative easing programme (QE).
QE is the Bank's scheme to boost the economy by buying bonds. In February, the Bank's Monetary Policy Committee (MPC) boosted the stimulus to £325bn.
Rates have been at 0.5% for three yea...
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Sainsbury's hails 'good sales and profits'
Supermarket group Sainsbury's has reported an increase in sales and market share but a small dip in profits in what it described as a "good year".
Pre-tax profit for the year to 17 March fell to £799m, down from the £827m the company made a year earlier, due in part to increased pension costs and lower profits on property sales.
H...
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UK economy will return to growth claims CBI
he UK economy will return to growth in the second half of 2012, with faster growth expected next year, the CBI business group has said.
But the CBI cut its growth forecast for the whole of 2012 from 0.9% to 0.6%.
Its revision was a "direct consequence" of data from the Office for National Statistics (ONS) which showed the economy ...
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4G Mobiles 'Will Give UK Economy £75bn Boost'
Rolling out 4G mobile data services in the UK would give the economy a £75bn annual boost by the end of the decade, according to a report.
The research was commissioned by mobile network Everything Everywhere (EE), which is lobbying for the introduction of 4G technology to the UK.
The report found that introducing 4G, which can deli...
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