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Tuesday newspaper round-up: McDonald’s, GSK, Yahoo

Your Money
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Your Money
Posted:
Updated:
23/07/2013

McDonald’s sales soar; GSK says some China staff were involved in bribery; hedge fund manager sells stake in Yahoo! for $520m.

McDonald’s sales surged during the second quarter as high demand in Briton offset negative results in Germany and France, The Times reported.

GlaxoSmithKline’s President of International Operations, Abbas Hussain, has admitted wrongdoing by staff as China investigates the company over claims it was involved in illegal bribery in the country, the Financial Times said.

A survey from the British Chambers of Commerce out on Tuesday is expected to show UK exports are at their highest since the recession as exporters are more confident about sales growing, The Guardian revealed.

Billionaire hedge fund manager, Daniel Loeb, has sold out most of his stake in Yahoo! for $520m, rattling investor confidence and affecting the technology giant’s turnaround hopes, according to The Telegraph.

An AstraZeneca executive has been detained in China as part of a police investigation into the drug maker after its rival GlaxoSmithKline faced allegations of a multimillion-pound bribery scandal, The Independent unveiled.