Support for GKN in its battle against the hostile £8bn cash and share bid by Melrose Industries appeared to be gathering strength as the contest enters its final stage, with a second leading shareholder on Friday publicly backing the FTSE engineer.
US stocks hung on to their gains on Friday but the major indices remain on track to post a weekly loss amid ongoing jitters over a potential trade war with China and speculation over more personnel changes in President Donald Trump’s cabinet.
The Trump administration has lashed out at proposals to hit big tech companies with a “digital tax” the day after it emerged that Brussels is preparing to unveil new tech-focused tax measures to stamp out avoidance.
Japan Tobacco has agreed to pay around $1.6bn (90bn roubles) for Donskoy Tabak, Russia’s fourth-largest cigarette manufacturer, which is owned by Ivan Savvides, a Russian-Greek businessman based in Greece.
Goldman Sachs International pays its female staff in the UK median bonuses that are three-fifths* of those paid to its men, in the latest striking example of how the City’s men dramatically out-earn its women.
The London-based activist investor TCI has called on the company containing the legacy assets of Yahoo to wind down and sell off its $76bn holding in China’s Alibaba, effectively bringing down the curtain on over a decade of activist investor campaigns against what was once one of the world’s largest internet companies.