The Financial Services Authority says companies involved in public takeovers should adopt more stringent measures to investigate information leaks, according to The Guardian.
They also called for a more rigorous strategy when selecting insiders to be privy to sensitive information.
The recommendations come after the FSA released its M&A inside information review.
The regulator began the review in mid-2006 after conceding insider dealing may have been a factor in nearly a quarter of company takeover deals in 2005.
THE WET WEATHER DOMINATING the British summer claimed its first corporate victim, with Scottish & Newcastle warning it has been hit by a slump in beer sales, reports The Times.
Britain’s biggest brewer said profits in its UK business for the first six months to the end of June will now not match the level in the same period a year ago.
Despite predicting a second half recovery, the warning will shaken the leisure sector, already bracing itself for a sales downturn due to England’s smoking ban.
THE POUND HIT A 26-YEAR high against the US dollar yesterday ($2.0174) amid expectations that the Bank of England will raise rates by another quarter point this week to try to curb inflation, The Independent reports.
It says concerns about continuing price pressures were heightened by yesterday’s Chartered Institute of Purchasing & Supply (CIPS) figures and the CBI/PricewaterhouseCoopers survey.
The CIPS manufacturing activity index for June fell to 54.3 from 54.9 a month earlier, but is still the 23rd month in a row that has seen such a relatively healthy return.
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