SABMiller’s board will review its $107bn (€97.19bn) merger deal with Anheuser Busch InBev once all regulatory approvals have been secured, its chairman said yesterday.

Beer giant SABMiller turned up the heat in its takeover battle with rival Anheuser-Busch InBev as it said a sweetened bid from the Budweiser brewer "substantially undervalues" the business.

The world’s largest brewer wanted to keep the biggest deal of the year under wraps. Market chatter and the UK’s unique takeover rules got in the way.

Former Bank of Ireland governor Richard Burrows is to become chairman of global tobacco giant British American Tobacco (BAT), it was announced today.

BRITISH American Tobacco’s decision to appoint the former governor of the Bank of Ireland, Richard Burrows, as chairman of the world’s second largest cigarette manufacturer could get a hostile reception from the markets.

Upbeat economic news from the US failed to drag London’s FTSE 100 Index out of the red today.

Cigarette maker British American Tobacco (BAT) said today impressive growth from its key global brands helped boost profits.

British American Tobacco today said it had enjoyed a strong start to 2006, but currency swings meant it would be tough to sustain such a positive performance.

British American Tobacco today said it was heading for a highly satisfactory year after volumes of its top four brands rose 9% in the first nine months of this year.

Prime Minister Tony Blair met Chinese President Hu Jintao today at the start of a China-European Union summit focused on boosting trade and tackling global warming.

The maker of Mr Kipling cakes and Bisto gravy will be valued at up to £975m (€1.4bn) when it floats on the London stock market, it emerged today.

The maker of Mr Kipling cakes and Paxo stuffing kicked off plans today for a flotation that could value it at more than £1bn (€1.5bn).

British American Tobacco today said profits had risen by 8.5% on the back of good profit growth across most of its businesses.

British American Tobacco chairman Jan du Plessis has hit out at bans on smoking in public places, such as those introduced in Ireland and New York as BAT released news of modest half-year profits today.

Investors took money off the table today as the optimism behind last week’s 15-month high in the FTSE 100 Index ebbed away.

Prospects of a lower opening in the United States kept investors in London on their guard today.