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Heineken may have to revise its bid for a controlling stake in Asia Pacific Breweries after Kindest Place, a Thai firm, said it is prepared to pay S$55 per share in return for a 7.3 per cent stake in the Tiger Beer producer. The stake is currently held by Fraser and Neave which has a 40 per cent direct and indirect share of the brewer....

US car manufacturer General Motors has reported a drop in profits for the last quarter as the debt crisis in the eurozone means that sales in Europe have been sluggish. Net revenue for the three month ending in June was $37.6 billion compared to the $39.4 billion reported for the same period a year ago. Profits for the quarter were down...

Asia Pacific Breweries has seen its share price climb by 17 per cent on the Singapore Stock Exchange to hit 49 Singapore dollars each. The Tiger beer maker has received a takeover bid by Heineken which wants to pay S$50 per share for the stake in the company it does not already control. APB, One of the largest brewers in Asia, is currently...

Indian-based car manufacturer Maruti Suzuki has closed its plant in Manesar after clashes last week left 85 people injured and one official dead. The violence and subsequent closure has seen shares in the joint operation between Suzuki Motor Corporation and Maruti tumble by five per cent. The firm’s chairman, RC Bhargava, said at the...

Microsoft has declared a quarterly loss for the fist time ever. The computing giant lost $492 million in the second three months of 2012 compared to a $5.9 billion profit announced for the same quarter a year ago. The main reason for this is a decision by the company to write down the value of online advertising business...

Miner BHP Billiton said that output of iron ore for the second three months of the year had increased by 15 per cent. Production for the year was 159 million tonnes which is a record for the firm. The second quarter growth comes even though there are concerns that China’s demand continues to weaken. The company previously said that it was...

The largest IT outsourcing firm in India has announced a rise in profits for the first quarter of the year. Tata Consultancy Services said an increase in demand for outsourcing services had led to a 38 per cent rise in profits for the three months. A weak rupee has also helped. This is because foreign firms are getting the services and...

Stock prices in the EU have declined as investor attention turns towards a meeting of the European Central Bank. Shares in energy firms have seen a decline as oil prices retreat from Tuesday’s five-week high. In London, Tullow Oil lost 1.9 per cent and Statoil, the Norwegian gas and oil group, shed 1.6 per cent. The banks have also seen...

Malaysian palm oil company Felda has seen its shares surge during its debut as investors gamble on rising demand for its regional product. The company’s shares went up as much as 20 percent, reaching 5.46 ringgit on Bursa Malaysia, the Malaysian stock exchange. The firm had generated 10.4 billion ringgit through its share sale--the...

In an effort to increase its market share, Coca-Cola has announced that, in collaboration with its bottling partners, the company will invest $5 billion in India. The investment, which is $3 billion more than it had been announced previously, is due to be spread over eight years. India is a fast-expanding consumer market, in which the...