Foster’s, Australia’s biggest brewer by sales, rejected a $9.51bn cash offer from London-based SABMiller on Tuesday, saying the bid undervalued the Australian company.The unsolicited and unconditional offer of A$4.90 per share for the firm was an 8.2 percent premium on the closing price of A$4.53. SabMiller CEO Graham MacKay confirmed on Tuesday that it made…


European governments chose to withhold the decision on whether an additional aid payment of €12bn should go to the Greek government, saying the nation needs to put a strict austerity package in place first. 
Luxembourg’s Prime Minister, Jean-Claude Juncker, who chairs the 17-strong group of European finance ministers, said: “We agreed that there should be…

New York-based exchange operator Nasdaq OMX confirmed on Friday it is bidding for a minority stake in leading Anglo-French swaps clearing house LCH.Clearnet.
 
 The bid forms part of Nasdaq’s strategy to expand beyond the US, the company said.
 
Nasdaq CEO Robert Greinfeld spoke to journalists at the Federation of European Securities Exchanges conference in Athens, saying:…

Barclays Bank unveiled plans to increase annual revenue by as much as £6.4bn in the next two years in an attempt to increase shareholder returns, CEO Bob Diamond said late on Wednesday. In a statement Barclays outlined plans to make an additional income of between £4.3bn and £6.4bn by 2013, which would mean a 20…

Finnish phone maker Nokia has won its long-running patents case against Apple and will receive a one-off €800m payout from the iPhone maker in addition to royalties. The patent case was brought by Nokia against Apple in October 2009 and related to its patented technologies used in smartphones. The settlement signed on Tuesday through a…