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Tuesday, 23 April 2024
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European Business News 96-07-24European Business News (EBN) Directory - Previous Article - Next ArticleFrom: The European Business News Server at <http://www.ebn.co.uk/>Page last updated July 23 16:30 CETCONTENTS
[01] EU proposes ban on sheep and goat partsEuropean Union farm ministers begin a second day of meetings as other ministers express concerns of more consumer panic over meat products.New research has shown that another form of mad-cow disease can spread to sheep. That's led the European Commission to propose banning the sale of certain parts of sheep and goats. But some EU ministers worry that this could lead to even more consumer panic and add to the damage being done to Europe's agriculture industry. The mad-cow crisis is expected to cost the industry as much as 1.9 billion dollars this year. [02] CBI report shows rise in manufacturers' confidenceManufacturers' confidence in the UK has risen for the first time since April 1995, according to a survey released by the CBI today. Total output and orders rose over the past four months, after remaining flat in the previous quarter.The industrial trends survey for July shows that 32 percent of firms reported higher orders, with orders for consumer goods showing a marked increase. Export demand picked up modestly, though domestic orders were virtually flat. [03] Docks de France accepts sweetened takeover bidThe French supermarket group Docks de France, has accepted a sweetened takeover bid from rival Auchan. The new bid values Docks de France at 3.3 billion dollars. Docks de France had resisted Auchan's advances and began to seek alternative suitors. British food retailer Tesco had considered a bid as a way of beefing up its French operations. But yesterday Tesco deferred from making a bid, leaving Docks de France with no choice but to take up Auchan's improved bid.[04] KHD postpones shareholders' meetingThe German engineering firm Kloeckner-Humboldt-Deutz has once again delayed its annual shareholders' meeting. The meeting has been postponed to September 10 to enable fresh accounts to be drawn up. The meeting had already been rescheduled once, to August 23.Earlier this year, hidden losses at KHD's plant construction unit brought the Cologne-based company to the brink of collapse. In June, it was bailed out by its creditors. [05] Bertelsmann holds talks with digital TV rival Kirch GrupeGermany's Bertelsmann is holding discussions with its archrival Kirch Grupe.The meetings are the first signs that Bertelsmann is rethinking its digital-television strategy, according to reports in the Wall Street Journal Europe. Programming and marketing potential is being discussed with a number of groups including Kirch. Bertelsmann and Kirch have developed separate and incompatible decoding systems for receiving pay-television and were lined up for an expensive battle for the leading market share in Germany. Bertelsmann said an announcement is expected no earlier than Friday. [06] Bank of Japan survey forecasts steady growthThe Bank of Japan has said that it sees the economy continuing its moderate recovery though the pace will remain mild. The comments come in the BOJ's quarterly outlook. The Bank says that its policies will continue to aim to ensure growth on a solid economic base - a stance in line with recent comments by BOJ governor Yasuo Matsushita.[07] SmithKline Beecham shows 14% rise in second quarter earningsU.K.-based healthcare group SmithKline Beecham PLC Tuesday reported a 14% increase in pretax profit for the second quarter ended June 30, to 342 million pounds.The closely watched line of new drugs helped the overall earnings picture, the company said. All told, new drug products accounted for 32% of total pharamaceutical sales. [08] Euro Disney posts 60% operating profit riseThird-quarter operating profits at Euro Disney have risen by 60 percent to 146 million francs.Net profits were down but that was due to a one time gain of 79 million francs in last year's accounts. The company said the increase reflected improved sales and the absence of costs related to last year's opening of its Space Mountain ride. The improved results are important for Eurodisney, which is battling to build up cash before having to pay financing costs on nearly 15 billion francs worth of debt. That begins in 1998. [09] Signet set to sell its British chains to Apax PartnersTroubled British jewellery chain Signet, formerly known as Ratners, is to sell its two british chains to venture capitalist Apax Partners. The UK's Financial Times newspaper says the sale, worth 280 million pounds or about 430 million dollars, will be one of the largest in British retailing.Ratner was renamed Signet after the company effectively collapsed at the start of the 1990s. Ex-boss, Gerard Ratner caused a furore in 1991 when he called the products 'total crap'. [10] Germany joins hemp bandwagonFollowing the European Union's decision to subsidise the growing of hemp, Germany has joined France and Holland in exploiting this uniquely versatile plant. It makes a range of products from sofas and clothes, to washing powder and cosmetics. The plant hemp, once banned in Europe and America because of fears over its narcotic content, is at last making a comeback as a cash crop.From the European Business News (EBN) Server at http://www.ebn.co.uk/European Business News (EBN) Directory - Previous Article - Next Article |
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