Hello, friends and Coins2Day readers.
Happy Monday, and welcome back to the office. It’s the start of a busy week, with the Alibaba IPO and the Scottish independence vote both coming towards the end of the week. Today, though, we’ve got rumors of deals in the brewing industry and a management change at Radioshack. Here’s what else you need to know in business today.
1. Radioshack’s CFO is out
The beleaguered electronics chain Radioshack announced today that CFO John Feray resigned late last week due to personal reasons. It’s the latest in a string of bad news for the company, which recently reported losses had doubled from the prior year.
2. Alibaba demand is wild
Everyone wants in on Alibaba’s IPO. Reuters is reporting that demand is so high the Chinese e-commerce company is likely to raise the size of its public offering, which is expected to hit the market on Friday. It had previously been reported that after two days on the road, the company already had enough investors to cover the entire offering.
3. How industry is faring
We’ll see how U.S. Industry is faring today, when the Fed is due to report on industrial production and factory capacity utilization. The AP reports we’ll see a small jump of around 0.3%.
4. Heineken rejects deal
At least one brew is still family owned. Heineken, the Dutch beer company famous for its green bottles, has said no to a takeover bid from SABMiller. The owners have said they don’t intend to sell to anyone, preferring to keep the business in the family.
5. Neiman Marcus buys European e-commerce site
The luxury retailer is setting its sights on Europe. Neiman Marcus has purchased Mytheresa, a Munich-based online shopping site. This move comes just weeks after the retailer announced it would be opening its first store in New York City.
