Luxembourg | Reuters — European Union trade ministers meet in Luxembourg on Tuesday aiming to approve a free trade agreement with Canada but facing regional opposition in Belgium that threatens to scupper the entire deal. All 28 EU governments now back the Comprehensive Economic and Trade Agreement (CETA), which would be the bloc’s first trade […] Read more
Belgian ‘Non’ clouds EU meeting to approve CETA
CETA hits resistance in Belgian fortress Wallonia
Namur, Belgium | Reuters — The Belgian fortress city of Namur, besieged by European armies down the centuries, issued a declaration of war on the global economic order Friday, with a vote to reject a planned EU-Canada free trade agreement. The parliament of the region of Wallonia voted in its seat at Namur after a […] Read more
Belgian regions set to block CETA over farm concerns
Brussels | Reuters –– Southern Belgium is set to block a planned EU-Canada free trade agreement, threatening to undermine the European Union’s entire trade policy and serving as a warning to British hopes of a speedy deal after Britain has left the European Union. EU trade ministers will vote in a week on the Comprehensive […] Read more
SABMiller investors approve takeover by AB InBev
London/Brussels | Reuters — SABMiller shareholders overwhelmingly backed the brewer’s takeover by Anheuser-Busch InBev on Wednesday, clearing the last big hurdle for one of the largest corporate mergers in history. When the deal closes, which AB InBev said Wednesday it expects to happen Oct. 10, the combined group will sell more than a quarter of […] Read more
EU bids to seal CETA as U.S. deal prospects fade
Bratislava | Reuters –– European Union ministers took steps Friday to approve a contentious free trade deal with Canada, while France and Austria demanded that talks towards a similar agreement with the United States should stop. Both deals have triggered demonstrations by unions and protest groups who say they will spark a “race to the […] Read more
Canada, EU finally settle trade deal after opposition
Ottawa/Brussels | Reuters — The European Union has convinced Canada to include a new way of settling investor claims in their trade deal, making it more likely that it will be passed and putting the U.S. under pressure to accept the same terms. The two sides wrapped up negotiations on the Comprehensive Economic and Trade […] Read more
Rivals see local battles, not global war, with new beer giant
Copenhagen/Brussels | Reuters — The prospect of a new competitor that produces one third of an entire industry’s output would normally terrify rival companies, but brewing is different. The very local nature of lagers and ales, and the fact that a price war is seen as unlikely, mean global market leader Anheuser-Busch InBev’s imminent takeover […] Read more
Labatt’s owner wins over SABMiller at fifth attempt
Brussels/London | Reuters –– The world’s two biggest brewers agreed on Tuesday to create a company making almost a third of the world’s beer after SABMiller received an improved offer worth more than C$130 billion from larger rival Anheuser-Busch InBev. If it goes through, the deal would rank in the top five mergers in corporate […] Read more
Labatt owner ups offer for SABMiller as deadline looms
Reuters — Anheuser-Busch InBev raised its proposed takeover offer for SABMiller on Monday, as the world’s largest brewer tries to win over its smaller rival to the idea of creating a giant that would make nearly a third of the world’s beer. The owner of the Budweiser, Labatt and Alexander Keith’s brands said it would […] Read more
SABMiller rejects Labatt owner’s takeover approach
Brussels/London | Reuters –– SABMiller, the world’s second largest brewer, has promptly rejected an improved takeover proposal from Anheuser-Busch InBev, saying its 68 billion-pound (C$136 billion) valuation was “very substantially” under par. Refusal of the offer, made public Wednesday after earlier proposals were refused privately, opens the door to a week of intense wrangling before […] Read more
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