Robert is Assistant Editor of Reuters Breakingviews, based in London. He has a special focus on investment, writing about it on a global basis. Robert worked for The Times, in London, in a variety of writing and editing capacities from 1998 to 2010. For nearly 10 years he edited the newspaper’s daily Tempus investment column. He was also deputy business editor, acting business editor, a leader writer, the chief obituaries writer and a news editor in the home affairs department. Prior to joining The Times, Robert worked on The Independent and the London Evening Standard. His most recent book is called The Unwritten Laws of Finance and Investment (Profile, 2010). As a part-time lecturer, Robert led the financial journalism specialism at The City University in London in 10 academic years between 1995 and 2007. Follow Robert on Twitter @RobertCole7
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Shares in UK-based Associated British Foods leapt 8 percent as its Primark discount retailer outlined bold U.S. expansion plans. ABF’s sugar processing unit also seems to be coping with a changing regulatory regime. The shape of the whole business is odd, but seems to work.
Phil Clarke, CEO of Britain’s largest grocer, touts a “big and bold plan.” He needs one, given poor trading and intensifying competition. But his proposals are vague, and he’s been too timid before. Tesco’s beaten-up shares bounced. But investors should stay sceptical.
The UK distiller is again trying to tighten its grip on India’s United Spirits. It’s offering $1.9 bln to nearly double its stake to 54.8 pct. A sky-high multiple of 38 times EBITDA gives this offer better odds than the last. And there’s industrial logic to offset the huge price.
- UK investors wake up to asleep-at-the-wheel charge
- Tesco chairman has to get a grip
- Review: Zero margin call
- How to avoid another second-class UK privatisation
- UK energy watchdog supercharges breakup option
- Standard Life prepares well for tougher times
- Sainsbury entrenches UK grocers’ market discount