BRUSSELS (Reuters) – The European Commission has launched an investigation into suspected dumping of solar panels by Chinese producers, drawing a warning from China that restrictions on its exports will hurt the multi-billion-dollar global clean energy sector.
The investigation into the biggest import sector ever targeted by the Commission stems from a complaint by a group of European solar companies, led by Germany’s SolarWorld.
BRUSSELS, July 31 (Reuters) – Anheuser-Busch InBev,
the world’s largest brewer, fell short of second-quarter
earnings expectations, selling less beer and spending more on
distribution and marketing new U.S. brands.
The maker of Budweiser, Stella Artois and Beck’s forecast an
improved second half after posting a second-quarter 2.5 percent
like-for-like rise in core profit (EBITDA) to $3.59 billion,
below the average $3.74 billion in a Reuters poll.
BRUSSELS (Reuters) – ArcelorMittal (ISPA.AS: Quote, Profile, Research, Stock Buzz), the world’s largest steelmaker, forecast tough market conditions would continue into the second half of the year, particularly in Europe where it lowered its consumption forecast due to the severity of the slowdown.
Steelmakers globally are struggling with falling demand in Europe and Japan and slowing growth in China, the world’s largest producer and consumer. The only bright spot has been a pick-up in the Americas.
BRUSSELS, July 23 (Reuters) – Salzgitter AG’s (SZGG.DE: Quote, Profile, Research)
profit warning and Outokumpu Oyj’s (OUT1V.HE: Quote, Profile, Research) quarterly loss are
the bleak precursors to upcoming results from European
steelmakers, beset by lower demand and clinging to hopes of a
pick-up after the typical summer lull.
SINGAPORE/BRUSSELS (Reuters) – Heineken NV (HEIN.AS: Quote, Profile, Research, Stock Buzz) launched a S$5.1 billion ($4.1 billion) bid to take control of Asia Pacific Breweries Ltd (APB) (APBB.SI: Quote, Profile, Research, Stock Buzz), seeking to push out a Thai billionaire and would-be partner and setting up a battle for the maker of Tiger Beer.
The fight for APB comes amid a wave of industry consolidation and steady growth in emerging-market beer sales, although APB’s ownership structure makes this among the most complicated assets to buy.
BRUSSELS (Reuters) – For Heineken (HEIN.AS: Quote, Profile, Research, Stock Buzz), brewing partners have not always made good company, so the arrival of a third in its booming Asian business makes for an unwelcome crowd that could elbow aside its own expansion opportunities.
The Dutch brewer is assessing its options after it emerged that the family of Charoen Sirivadhanabhakdi, the billionaire founder of Thai Bev, may become a partner in Asia, joining rival Kirin (2305.T: Quote, Profile, Research, Stock Buzz) as a shareholder in Singapore conglomerate Fraser and Neave (F&N) (FRNM.SI: Quote, Profile, Research, Stock Buzz).
BRUSSELS (Reuters) – European Central Bank elder statesman Yves Mersch’s nomination to the bank’s agenda-setting Executive Board, restocks the six-person panel with an inflation-busting hardliner and adds experience to a recent wave of younger newcomers.
Mersch, 62, is the only person to have served uninterrupted on the ECB’s wider policy-setting Governing Council, helping steer the bank’s policy since its birth in 1998.
BRUSSELS, June 29 (Reuters) – Anheuser-Busch InBev,
the world’s biggest brewer, said it would swallow the half of
Grupo Modelo it does not already own for $20.1
billion in the latest of a string of deals by big brewers
looking for growth in emerging markets.
The owner of Budweiser and Stella Artois beers said on
Friday it had reached agreement with Modelo’s controlling
families giving it a leading position in a growing domestic beer
market and the best-selling Mexican beer Corona Extra.
BRUSSELS (Reuters) – The European Union’s steel industry may need to shut three quarters of its capacity in the next two decades because of declining demand, rising costs and cheap imports, a European sector chief said on Thursday.
“It is foreseeable in the next 10, 15, 20 years, at least for normal grade steel, that production in Europe will not be competitive any more,” Wolfgang Eder, president of European steel industry body EUROFER told Reuters in an interview.
BRUSSELS/LONDON (Reuters) – Anheuser-Busch InBev’s (ABI.BR: Quote, Profile, Research) interest in buying the rest of Grupo Modelo (GMODELOC.MX: Quote, Profile, Research) is sparked by Mexico’s growing beer market, the potential for big cost savings and control of exports of Corona beer, but the Mexican brewer sounded cautious on Monday.
Mexico’s Modelo and Belgian based AB InBev, which has a 50.4 percent non-controlling stake in Modelo, said on Monday they are discussing expanding that relationship.