Japanese fund to take stake in L&G
INNOVATION Network Corporation of Japan, a public-private partnership majority backed by the Japanese state, is to take a 40pc stake in Swiss electronic metering firm Landis+Gyr (L&G) as part of a deal with Toshiba. Toshiba said in May it was to pay $2.3bn (€1.6bn) to acquire the company that was taken over by Cameron O'Reilly in 2004. Toshiba said it was willing to reduce its stake further, but would retain more than 50pc of L&G.
Domino's suffers 8.4pc sales slump
Outlets of Domino's Pizza in Ireland have recorded a continuing slump in sales as consumers tighten their belts, with revenue at its outlets here tumbling 8.4pc year-on-year in the 26 weeks to June 26. Domino's Pizza UK & Ireland's like-for-like sales rose 2.4pc in the period, compared with a 13.7pc rise in the corresponding period last year. Pre-tax profit was 15pc higher at £20.1m (€22.7m).