Kellogg’s has swooped to buy Pringles crisps from US rival Procter & Gamble (P&G) for 1.7billion in cash as the food group bids to expand its snacks business. The deal took the market by surprise because as little as two weeks ago the worlds biggest consumer goods group had planned to sell the business to [...]

Billionaire Viktor Vekselberg thinks his companies have done so well last year, he’s planning to head into space. As President of the Skolkovo innovation centre fund, he wants to see the centre organise Russian tourists into space within three years. “We hope that Russian businessmen will soon go to the outer space as tourists. We [...]

  BlackRock’s iShares, the biggest purveyor of exchange-traded products, today launched two new regional emerging market funds, a first-to-market one targeting Europe, the Middle East and Africa, and the other focused on Latin America. Both ETFs track MSCI indexes and have primary listings on Nasdaq. The two funds come with an expense ratio of 0.49 [...]

Stewart Butterfield has it made. He’s famous for co-founding the popular photo-sharing service Flickr in 2004. He lives comfortably in Vancouver, having sold Flickr to Yahoo for a reported $35 million in 2005. And investors including Accel Partners and Andreessen Horowitz have thrown $17.2 million behind his two-year-old game company, Tiny Speck, even though the [...]

Continuing my breakdown of common all-risk insurance policy exclusions, I turn this week, to the smog, smoke, vapor or gas exclusion. While one might think that this type of exclusion would apply only to industrial or commercial properties, it can apply to homeowners’ claims as well, and it is important for all policyholders to understand. [...]