JD.Com to acquire Ceconomy
Reuters reported the deal earlier on Wednesday.
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Reuters
3 hours ago
- Reuters
Brazil's BRF minority shareholders back Marfrig deal
SAO PAULO, Aug 2 (Reuters) - The majority of minority shareholders of Brazilian poultry and pork processor BRF ( opens new tab have approved a proposed tie-up with beefpacker Marfrig ( opens new tab, according to a securities filing on Saturday. The move will create another global food company with origins in Brazil and factories in South America, North America, the Middle East and China. The filing showed 71.4% of minority shareholders in BRF approved the terms of the deal with Marfrig, not including abstentions. Shareholders representing 90% of BRF's free float cast their votes, the filing said. The results indicate support for the deal's completion ahead of an extraordinary general shareholders meeting scheduled for August 5. In May, Marfrig unveiled a plan to complete its takeover of BRF, a move that could be followed by the listing of shares of the combined corporate entity, to be called MBRF, in the United States. In public disclosures, Marfrig and BRF said the proposed deal would involve a share swap whereby BRF shareholders would receive 0.8521 shares of Marfrig for each BRF share they own. MBRF will also control Marfrig-owned National Beef, a meat processor based in the United States.
Daily Mail
3 hours ago
- Daily Mail
Ingenious ways to pass on your wealth inheritance tax-free - without turning your children into lazy brats
Many families would far rather pass wealth to the next generation than have it seized by the taxman but are wary of giving children and grandchildren too easy a ride. It's a classic conundrum. How do you give away your hard-earned money without undermining the values of hard work and financial responsibility you hope to instil in your offspring?
The Sun
4 hours ago
- The Sun
Major UK high street bank quits UN-backed net zero alliance as it says body ‘not fit for purpose'
A MAJOR high street bank has become the latest British lender to quit the Net Zero Banking Alliance, the bank said on Friday. Barclays argued that the departure of several global lenders has left it no longer fit to support the bank's green transition. Barclays' decision to quit the foremost banking alliance focused on tackling climate change follows on from HSBC and several major US banks. It also raises questions about the ability of the group to influence change in the sector going forward. The bank said in a statement on its website: "After consideration, we have decided to withdraw from the Net Zero Banking Alliance." It added that its commitment to be net zero by 2050 remained unchanged and that it still saw a commercial opportunity for itself and its clients in the energy transition. Earlier this week Barclays published the first update on its sustainability strategy in several years. It said the bank made £500 million in revenue from sustainable and low-carbon transition finance in 2024. Jeanne Martin, co-director of corporate engagement at responsible investment NGO ShareAction called the decision to leave the Net Zero Banking Alliance "incredibly disappointing and a step in the wrong direction at a time when the dangers of climate change are rapidly mounting." Barclays said the alliance was no longer fit for its purpose: "With the departure of most of the global banks, the organisation no longer has the membership to support our transition." The Net Zero Banking Alliance, a global initiative launched by the United Nations Environment Programme Finance Initiative, lists more than 100 members on its website - including leading international financial institutions. A spokesperson for the alliance said it remains focused on "supporting its members to lead on climate by addressing the barriers preventing their clients from investing in the net-zero transition." It comes after it was announced that Barclays is slashing interest rates on its popular Rainy Day for the third time in less than seven months. From August 4, the interest rate for balances up to £5,000 will fall from 4.61% to 4.36%. The Rainy Day Saver account, which offers easy access to funds, has been a favourite among Barclays ' 20 million customers. It is designed for balances up to £5,000, with savers earning the higher rate on the first £5,000 – currently 4.61%. Savings above this threshold earn just 1% interest, but customers benefit from instant access to their money at any time. At the current rate, holding £5,000 in the account would earn you £230.50 in interest over 12 months. However, when the rate drops to 4.36%, this will fall to £218 - a loss of £12.50 per year. Once boasting a competitive 5.12% interest rate earlier this year, Barclays has steadily chipped away at its appeal. In February, the rate dropped to 4.87%, followed by another cut in April to 4.61%. In February, the bank reduced the rate to 4.87%, followed by another cut in April to 4.61%. Now, just months later, rates are set to drop again, leaving savers questioning whether to stick with the account or explore better options elsewhere. How Barclay Card Changes Could Affect You ANALYSIS by Consumer Reporter, James Flanders: Barclaycard's change to its credit card repayment structure sounds great if you don't dig into the details. After all, Barclaycard says it's "making the changes to give you greater flexibility each month". In practice, it means that if you can't afford to pay off your balance in full at the end of each statement period, you can repay much less under the minimum repayment option than you have done previously. If you only pay the minimum amounts on occasion, this is super useful. But if you rely on this type of repayment plan in the long term, it could will cost you hundreds of pounds extra in interest. It could also negatively affect your credit file as it'll take you much longer to clear your debt. More interest will be applied to your outstanding balance, too, as less is paid down each month. For example, if you have a balance of £5,000 on a Barclaycard at 24% interest, where you only make the minimum payments and don't spend on the card. Under the old "2.5% of the balance plus the interest charged" rule, it would take around 14 years to clear the balance. In total, you'd expect to pay about £3,500 in interest. But with the new "1% of the balance plus the interest charged" calculation, it will take over 30 years to clear the same balance. You'd then end up paying a whopping £8,500 in interest. Before taking out a new credit card or increasing the amount you borrow, it's vital to consider the consequences. You should only borrow money if you can afford to pay it back. It's always vital to ask yourself if you actually need to borrow before committing to a new credit card, personal loan or overdraft. If you use a credit card, I'd recommend that you always pay off your balance in full at the end of each statement period. Lenders have a responsibility to help customers who are in debt. If you're in a debt crisis, your first point of call should be your lender. They might help you out by offering you a reduced interest rate or a temporary payment holiday - so check in with your lender if you're struggling.
