By Philip Blenkinsop and Martinne Geller BRUSSELS/LONDON (Reuters) - The world's two biggest brewers agreed on Tuesday to create a company making almost a third of the world's beer after SABMiller accepted an offer worth more than $100 billion from larger rival Anheuser-Busch InBev . The SABMiller board said it would give its blessing to a fifth proposal from its sole larger rival. After repeated rejections to its lower proposals, AB InBev said on Tuesday it was willing to pay 44 pounds in cash per SABMiller share, with an alternative for cash and shares set at a discount and limited to 41 percent of SABMiller shares.
(Reuters) - Johnson & Johnson reported a 7.4 percent fall in quarterly sales as the impact of a strong dollar more than offset higher sales of its mainstay older drugs. Revenue fell to $17.10 billion in the third quarter from $18.47 billion a year earlier. Net profit fell to $3.36 billion, or $1.20 per share, from $4.75 billion, or $1.66 per share, a year earlier. The company said its adjusted profit was $1.49 per share. (Reporting by Vidya L Nathan in Bengaluru; Editing by Don Sebastian)
The U.S. Justice Department has determined that Apple Inc has implemented significant improvements to its antitrust compliance program and that a court-appointed monitor's term does not need extended, according to a court filing. The Justice Department in a letter filed late Monday in Manhattan federal court said its recommendation was despite Apple's "challenging relationship" with Michael Bromwich, who was named monitor after the iPad maker was found liable for conspiring to raise e-book prices.
By Kevin Yao BEIJING (Reuters) - Chinese leaders will signal that growth is their priority over reform for the world's second-biggest economy by setting a growth target of around 7 percent in their next long-term plan even as the economy loses momentum, policy insiders say. The Communist Party's central committee will meet from Oct. 26-29 to set out their 13th Five-Year plan, a blueprint for economic and social development between 2016 and 2020. While the government has flagged a "new normal" of slower growth as it tries to shift the economy to sustainable, consumption-led growth, official data shows it has consistently at least met, and mostly exceeded, the growth targets it sets.