Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Two days after the head of its European business unexpectedly resigned, McDonald’s Corp. found his replacement.
Steve Easterbrook, the burger chain’s global chief brand officer, will become president of McDonald’s Europe on Dec. 1. He succeeds Denis Hennequin, who resigned Wednesday to become chief executive officer of Accor Hotels Group. Get the full story »
Huron Consulting Group expanded its legal consulting unit in Europe and the Middle East with the acquisition of London-based Trilantic International Ltd. Terms of the transaction were not disclosed. Get the full story »
McDonald’s announced today that European president Denis Hennequin will resign to become Chief Executive Officer of the Accor Hotel Group. His departure will be effective at the end of the month.
Before Don Thompson’s promotion to president and chief operating officer early this year, Hennequin was considered to be a dark horse candidate for the position, which is widely considered to be CEO-in-waiting. Jim Skinner, the current CEO, is 66.
“Denis’ leadership made a tangible difference in our key segment of Europe,” Skinner said in a statement. ”The European team’s dedication to our Plan to Win business strategy elevated the restaurant experience for our customers. We wish Denis well in his new role at Accor.” Get the full story »
The dollar fell sharply against a broad range of currencies Thursday as prospects for Asian economic growth contrasted with the likely need for more stimulus in the U.S.
A monetary-tightening move overnight by the Monetary Authority of Singapore accelerated the dollar’s slide, knocking the greenback to long-term lows against rivals in Asia, Europe and North America before regaining some poise in New York trading. Get the full story »
The United States urged European states on Monday to join forces with Washington in pressuring China to change its policies on intellectual property rights and foreign investment. Get the full story »
CME Group Inc.’s daily trading volume rose in September and the third quarter as a whole, the exchange operator said, continuing a trend of growth. Get the full story »
The World Trade Organization adopted a ruling Tuesday condemning controversial European duties on electronics products after the European Union declined to appeal against the verdict by WTO judges. Get the full story »
Motorola Inc. has partnered with Swedish telecommunications giant Ericsson on advanced technology for public safety agencies, the two companies said Tuesday. Get the full story »
Drug and medical device firm Abbott Laboratories says it has abandoned plans to sell its vaccines unit, less than three months after exploring sales talks with rival companies. Get the full story »
European Union competition regulators have set a new deadline of Oct. 22 to decide whether to clear Unilever’s $1.3 billion purchase of Sara Lee Corp.’s body care business, the European Commission said on Friday. Get the full story »
The Federal Reserve said Monday that bank lending standards eased somewhat over the last three months while demand for business and consumer loans was largely unchanged.
In its quarterly Senior Loan Officer Survey, taken in July, the Fed found that tight lending conditions, which some economists have linked to the weak economic recovery, were starting to ease. Get the full story »
About 120 Illinois and California residents thought they were investing more than $20 million in Turkish Eurobonds when, in fact, a Lisle man and others were spending the money on luxury automobiles, homes, vacations and online pornography, the Illinois Department of Insurance alleged Tuesday.
The state’s action follows a lawsuit filed by the Securities and Exchange Commission in March in which the federal regulator said the group was using the investors’ money to also buy a stamp collection, and also invest in “the cryogenic preservation of umbilical cord stem cells.” Get the full story »
From Bloomberg | In an interview with Bloomberg News, Kraft’s European president, Mike Clarke, said the company plans to focus on integrating the acquisitions of Cadbury Plc. and Groupe Danone SA’s LU unit, rather than make more purchases. “I don’t think we need at this time to buy other businesses to grow,” said Clarke.
From the Wall Street Journal | Europe’s highest court has ruled that Anheuser-BuschInBev cannot get a trademark for the Budweiser brand across the continent.
The proposed merger of United Airlines and Continental Airlines cleared its first regulatory hurdle on Tuesday, as the European Union said it would approve the deal. But the merger, which would create the largest airline in the world, must still pass muster with U.S. antitrust officials. The mega-deal is expected to face far more rigorous scrutiny from the U.S. Department of Justice, which isn’t expected to wrap up its probe until later this year.
European officials, in a review of the transaction that began on June 21, quickly determined that it wouldn’t adversely affect competition, given the relatively light overlap between United and Continental on trans-Atlantic routes.
However, the EU continues to separately investigate a proposed joint venture that would allow United, Continental, Air Canada and Germany’s Lufthansa AG to closely coordinate north Atlantic flights, as well as share revenues.
