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Cathedral City maker to be sold for almost £1bn

Cathedral City maker to be sold for almost £1bn

Business
Cathedral City cheese maker Dairy Crest has agreed to a takeover by a Canadian firm in a deal worth nearly £1bn.Saputo, one of the world's biggest dairy processors, will pay 620p a share, valuing the the UK company at £975m. Dairy Crest, whose other brands include Country Life butter, Utterly Butterly and Clover spread, saw its shares surge by 12.9% after the proposed sale was announced.Saputo, which does not currently have a foothold in Europe, said it was driven by "a desire to increase its international presence and enter the UK market by acquiring and investing in a well-established and successful industry player".The Canadian firm saw Dairy Crest "as an attractive platform for growth in the UK". It intended Dairy Crest would continue to manufacture its products from...
House price growth slowest for almost six years, says Nationwide

House price growth slowest for almost six years, says Nationwide

Business
UK house prices grew at an annual pace of 0.5% in December, the Nationwide building society has said, the slowest annual rate since February 2013.The lender says uncertainty over the economic outlook appears to be undermining confidence in the market.London and surrounding areas saw a small fall in house prices in 2018.Northern Ireland saw the biggest house price rises, up 5.8%. Prices in Wales climbed 4%, in Scotland they were up 0.9% and in England they rose 0.7%.December's growth rate, based on its own mortgage data, was a marked slowdown from the annual pace of 1.9% recorded by the Nationwide in November. The Nationwide's chief economist, Robert Gardner, told the BBC the severity of the slowdown was unexpected: "It is a little bit surprising that house price growth has slowed as much ...
‘I almost cried!’ – Jurgen Klopp explains what Mohamed Salah did to Roberto Firmino to make him so emotional during Arsenal thrashing

‘I almost cried!’ – Jurgen Klopp explains what Mohamed Salah did to Roberto Firmino to make him so emotional during Arsenal thrashing

Sports
SENSITIVE The German boss watched on with glee as his side tore the Gunners to shreds at Anfield in a 5-1 win Jurgen Klopp admitted Mohamed Salah nearly reduced him to tears after letting Roberto Firmino claim his hat-trick from the penalty spot in the 5-1 demolition of Arsenal. The ‘Egyptian King’ had already scored from the spot himself, but opted to let his Brazilian teammate score his third in front of the Kop. Salah scored a penalty in the first half, but gave the second spot kick to Roberto Firmino Second-placed Tottenham had already blinked first before this match kicked off, losing 3-1 at home to Wolves, and City, now 10 points adrift, cannot afford to do the same at Southampton on Sunday. A ninth successive Reds victory m...
'We now have almost Rs 7500 cr plus monthly flows in SIPs'

'We now have almost Rs 7500 cr plus monthly flows in SIPs'

Finance
NPAs, provident fund and SIP flows together will put between Rs 1,10,000 crore and Rs 1,25,000 crore in mutual funds this year, says Nilesh Shah, MD, Kotak AMC, talking to ET Now.Edited excerpts: When the mutual fund data for March came out, it appeared that the SIP flows and the mutual fund collections were coming down. What is the update after that? Was March an aberration?March was a normal month but people who interpreted data were in aberration. They failed to understand that in equity mutual fund, there is pure equity mutual fund where we go and invest into direct equity and there are also arbitrage funds where we invest in equity and short the futures. Impact of flows in a pure equity fund and arbitrage fund is completely different. When there are flows in pure equity fund and we bu...
Wenger to leave Arsenal after almost 22 years as manager

Wenger to leave Arsenal after almost 22 years as manager

Sports
Media playback is not supported on this device Arsene Wenger is to leave Arsenal at the end of the season, ending a near 22-year reign as manager.The Frenchman departs a year before his latest contract was due to expire.The Gunners are sixth in the league and set to miss out on a top-four spot for the second straight season, with their hopes of reaching the Champions League resting on winning the Europa League.Wenger, 68, won three Premier League titles and seven FA Cups, including the Double in 1998 and 2002."I am grateful for having had the privilege to serve the club for so many memorable years," said Wenger. "I managed the club with full commitment and integrity."To all the Arsenal lovers, take care of the values of the club."Arsenal...