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...handed down at London's Queen's Bench Court. There, concluding 43 days of hearings on the question of continued fixed retail prices in the candy industry, a panel of bewigged judges decided that they should be unfixed. Britain's five major candymakers-George Bassett & Co. Ltd., Cadbury Brothers Ltd., J.S. Fry & Sons Ltd., John Mackintosh & Sons Ltd., and Rowntree & Co. Ltd.-were ordered to end resale price maintenance. Hardly was the sense of the 45-minute decision clear when supermarkets, alerted by telephone, cut candy prices by as much as 25%. As the word spread, Britons...
Trend to the Vernacular. Under the Economist's articles of incorporation, no one shareholder is allowed to own more than 50% of the total stock. Currently, 50% is held by S. Pearson industries Ltd., a diversified holding company (pumps, pottery, publishing), that also owns the London Financial Times. For a British publication, the Economist is heavily staffed: a total of 40 writers and editors in London. In the rest of the world, it is very lightly staffed. It has one man in Washington, one in Paris, one in Bonn, and one in Vienna who covers all of Eastern Europe...
Some of that gap has already been plugged by other combines. In 1964, London's Midland Bank joined the Commercial Bank of Australia, the Standard Bank of London and the Toronto-Dominion Bank to create the Midland and International Banks Ltd. (capital: $56 million). Three months ago, Britain's Barclays Bank, the Bank of America, Italy's Banca del Lavoro, Germany's Dresdner Bank, Algemene Bank of The Netherlands and Banque Nationale de Paris formed Société Financière Européenne (capital: $7,800,000), with head offices in Paris and Luxembourg...
...faced over its abortive 1929 attempt to set up shop in Britain. That year the company established a British subsidiary-only to meet with an unexpected fate. Joining forces to fend off the challenger, British container companies merged into what came to be known as Metal Box Co. Ltd. and enlisted the technical assistance of American Can's chief U.S. rival, Continental Can Co. The combination proved so powerful that American Can, badly beaten, sold its local operations to Metal Box in 1931, agreed not to return to Britain for at least 20 years...
Undaunted by all that, American Can is trying again. Last February the $1.4 billion-a-year U.S. company shelled out $3.3 million to buy 60% control of Liverpool-based Reads Ltd., Metal Box's only real competitor. Holding onto a 40% interest is the hoary textile-making firm of Courtaulds Ltd., which was soundly trounced by Metal Box after acquiring Reads in 1959. Under Courtaulds, Reads has turned profits on such lines as steel drums and paint cans, but lost heavily on food and beverage tins. With the arrival of American Can, the company is embarking on a fiveyear...