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News Tag: acquisitions

April 29, 2010

Santander first quarter profits up 6%

by Kay Murchie
Spanish banking giant, Santander, has today posted a 6% rise in first quarter net profit, fuelled by strong growth in Brazil and the UK. The bank said net profit totalled €2.215 billion (£1.93 billion) against €2.10 billion in the same period a year ago. The bank’s results come just one day after credit rating agency Standard & Poor's downgraded Spain’s credit rating ...

January 20, 2010

CBI raises concerns over acquisitions

by Kay Murchie
Business group the Confederation of British Industry (CBI) has warned of a “fragile” recovery this year but the group is predicting that the economy will have exited recession in the fourth quarter. The economy, which has now contracted for six consecutive quarters, has been lagging behind other economies and is now the last major economy that is still in recession. Official figures on ...

October 12, 2009

Co-operative Group gains market share, profits up 17%

by Kay Murchie
Britain's largest mutually-owned retailer, the Co-operative Group, has today posted a 17% increase in profits for the six months to 25 July of £228.8 million. The retailer, which is the UK’s fifth largest following its acquisition of Somerfield, said sales of its re-launched and extended 'Simply Value' range were up almost 80% on the year. Excluding fuel and VAT, like-for-like food ...

November 11, 2008

Santander announces €7.2bn rights issue

by Kay Murchie
Spanish bank, Santander, has raised eyebrows today by announcing a €7.2 billion (£5.9 billion) rights issue. The bank, which recently acquired Alliance & Leicester, said the heavily discounted rights issue will allow it to strengthen its capital and provide an investment opportunity for its shareholders. However, just last week the bank insisted it had no need to raise capital and the u-turn has, therefore, ...