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USL agrees to sell Whyte & Mackay for £430 million

United Spirits Limited (USL) has agreed to sell its British subsidiary Whyte & Mackay to the Philippines-based brandy maker Emperador for £430 million (around $727 million).

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Egos partly responsible for collapse of Omnicom-Publicis merger deal

Advertising firms Omnicom Group Inc and Publicis Groupe SA recently called off their planned merger, prompting many market watchers to say that it was a merger egos and not a merger of equals, as the two firms had claimed at time of announcement of the deal in July last year.

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Co-op Bank’s cash call to reduce Co-op Group’s stake

The Co-op Bank has just completed a £400 million cash call that will slash the Co-operative Group's stake in the bank and decrease the number of directors nominated by the distressed group on its board.

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Morrisons CEO Dalton Philips defends his strategy

Bradford-based supermarket chain Morrisons' CEO Dalton Philips on Thursday said that some investors might not like his strategy amid declining sales but he had the City's backing.

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Proposal to allow HMRC to seize unpaid tax criticised by MPs

The Tory-led Coalition's proposal to allow the taxman to seize money directly from people's bank accounts without their permission has been criticised by the Treasury Committee.

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