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Banking

WireTap 0900 23/04/12

A round-up of the key stories across the specialist financial media, including news that Nestlé has agreed to pay $11.85 billion to acquire Pfizer's infant nutrition business


Nestlé to buy Pfizer's infant nutrition unit 

Nestlé said on Monday it has agreed to pay $11.85 billion to acquire Pfizer's infant nutrition business, a deal that is expected to help the Swiss food giant expand in emerging markets and cement its leading position in the global baby-formula market.

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Vodafone snaps up C&WW for £1 billion 

Vodafone has agreed the £1 billion cash acquisition of Cable & Wireless Worldwide, winning the bidding race to take over the troubled UK telecoms group.

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China manufacturing shrinks at slower pace: HSBC

Business conditions in China improved for manufacturers in April from levels seen in the previous month, although activity in the sector continued to decline, data released by HSBC showed on Monday, prompting calls for Beijing to loosen its policies.

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Europe pressed for action to end debt crisis

Global finance chiefs pressed Europe in weekend talks to quickly put in place the economic reforms needed to finally extinguish its debt crisis now that newly increased financial buffers have bought some precious time. 

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Shares weaken as growth fears linger

European bourses have started the week on the back foot as lingering eurozone concerns and worries about global growth continue to suppress sentiment.

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