María Teresa Rodríguez took control of Spanish biscuit manufacturer Galletas Gullón from a Mercedes in the company car park. Photograph: Michael Dalder/REUTERS It was a strange way to wrest back control of the 100-year-old family company but, after her sons locked her out, María Teresa Rodríguez – the matriarch of Spanish biscuit manufacturer Galletas Gullón [...]
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Junk bonds market set for record year
Michael Douglas as trader Gordon Gekko in Wall Street – the film that portrayed the heyday of the junk bond. Photograph: Ronald Grant Archive The junk bond market is likely to beat all records this year, as tight bank lending conditions pushes thousands of companies around the world towards alternative sources of finance. Issuance of [...]
Energy secretary Chris Huhne warned not to cut subsidies for green electricity
Chris Huhne, secretary of state for energy. Photograph: Antonio Olmos A coalition of green, countryside and housing groups has warned energy secretary Chris Huhne not to cut subsidies for green electricity and heating as part of the government’s spending review. The 22 groups, including green energy trade body RenewableUK, the National Farmers Union and the [...]
Construction industry survey reveals sudden signs of slowdown
Construction work soared in the second quarter but the forward-looking construction purchasing managers’ index has come in in below economists’ expectations. Photograph: Roger Bamber / Alamy/Alamy Britain’s construction industry grew at its slowest pace for six months in August after a decline in housebuilding, according to a key report on the sector. A survey of [...]
Burger King sold for £2.6bn
Burger King has been sold for the second time in its 55-year history. Photograph: Alex Segre/Alamy Burger King has been sold to private equity firm 3G Capital in a deal worth bn (£2.6bn). The -a-share agreement is 46% more than Burger King shares closed at on 31 August, the day before rumours of a deal [...]
