Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Unilever is paying $1.5bn for personal care brand Dr Squatch, as the consumer goods giant places another big bet on male grooming products, after its acquisition of razor subscription service Dollar Shave Club went awry. The FTSE 100 group announced on Monday that it had agreed to buy Dr Squatch from private equity firm Summit Partners for an undisclosed sum, to shift its portfolio into more upmarket, higher growth areas. Unilever agreed to pay $1.5bn, according to several people familiar with the…
A cost of living crisis and social unrest are throwing the strongman leader’s plan to stay in power — and his geopolitical aspirations — into jeopardy Source link
One thing to start: The US Treasury department has called on Congress to scrap a provision in Donald Trump’s flagship budget bill that would allow Washington to raise taxes on foreign investments, reversing a plan that had spooked Wall Street.And a scoop: The private equity owner of the former KPMG restructuring and advisory business Interpath is poised to appoint bankers to manage a sale of the company at a target valuation of about £800mn.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the newsletter. Premium subscribers can sign up…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A decade ago, I asked officials at the New York Federal Reserve if I could peek at their gold reserves. They refused point blank. The reason? Fed officials have long taken pride in having the world’s biggest gold vault, dug 80ft down into Manhattan’s bedrock. But they prefer to keep it discreet, partly because many of the vault’s 507,000 bars belong to countries such as Germany and Italy. Silence was literally golden.Now, however, a discordant note has been sounded. In recent weeks,…
Stay informed with free updatesSimply sign up to the Accountancy myFT Digest — delivered directly to your inbox.The six largest UK accounting firms do not formally monitor how automated tools and artificial intelligence impact the quality of their audits, the regulator has found, even as the technology becomes embedded across the sector. The Financial Reporting Council on Thursday published its first AI guide alongside a review of the way firms were using automated tools and technology, which found “no formal monitoring performed by the firms to quantify the audit quality impact of using” them.The watchdog found that audit teams in…
Stay informed with free updatesSimply sign up to the EU economy myFT Digest — delivered directly to your inbox.The European Central Bank’s battle against surging inflation after the pandemic has caused far less damage to the wider Eurozone economy than rate-setters anticipated, a veteran policymaker told the Financial Times.Klaas Knot, whose second term as president of the Dutch central bank DNB ends at the end of June, said he has been “positively surprised” at the limited economic fallout from the ECB’s dramatic tightening of monetary policy from mid-2022. “We would have been prepared to accept more economic pain [to battle inflation]…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.When Mitchells & Butlers signed its first securitisation of a pub chain, Beyoncé and Jay-Z were proclaiming themselves Crazy in Love and many of those graduating from university this year hadn’t been born. A lot has changed since 2003 — except the £200mn a year M&B must still find to cover the promises it made back then.Like noughties-style cargo pants, so-called whole business deals pledging future cash flows are back in fashion. Shareholders beware: these are more constricting and they don’t always…
As he took the stage to open the World Economic Forum in Tianjin this week, China’s second-in-command Li Qiang drew a direct comparison to the first such event in the city during the global financial crisis of 2008.“People felt disoriented and anxious, not knowing whether the world economy could emerge from the difficult situation and where it was heading,” the Chinese premier said.“History often rhymes,” he added.This year’s “Summer Davos” — China’s answer to the annual winter meeting of business leaders and heads of state in Switzerland — unfolded against a backdrop of similar uncertainties, with a conflict in the…
This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here.Good morning. This week, quite a few of you wrote in with your experiences and concerns for Air India. While almost everyone has experienced some difficulties on board (the broken entertainment system seems to be a consistent feature), the overwhelming sense was hope for a better future. Indians, rightly, want the national carrier to be successful, something we can be proud of. Yesterday, the civil aviation regulator announced that the critical…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump said on Thursday the US and China had signed a trade deal two weeks after saying they had reached an understanding in London about how to implement a ceasefire in the countries’ dispute.“We just signed with China yesterday,” the president said at the White House on Thursday, without providing any details.A White House official said the US and China had “agreed to an additional understanding for a framework to implement the Geneva agreement”, in a reference to the…