Business

THE NEWS WRAP: Boost Juice could be up for sale

Andrew Sadauskas /

Retail Zoo is reportedly examining a possible sale or IPO of its Boost Juice franchise.

 

According to a report in The Australian, private equity firm Riverside Company, which owns 70% of Retail Zoo, has been working with investment bank UBS, ahead of a possible sale next year.

 

The Boost Juice franchise includes around 200 stores, a quarter of which are company owned, while Retail Zoo is also the parent company of the Salsa’s Fresh Mex Grill and Cibo Espresso chains.

 

Banks warn of Treasury default chaos as talks break down

 

Leading bankers and financial figures have warned about the risks of a possible US Treasury default as talks between the White House and house Republicans broke down, ahead of the Thursday deadline to lift the US government’s $US16.7 trillion debt ceiling.

 

“There isn’t life beyond default… This would be a very rapidly spreading, fatal disease… you’re now talking about the underpinnings of finance,” Deutsche Bank chief executive Anshu Jain says.

 

“It would ripple through the global economy in a way you couldn’t possibly understand. We need global growth… We are on the verge of getting it. Please let’s not shoot ourselves in the foot,” JPMorgan chief executive Jamie Dimon says.

 

Ireland to exit EU-IMF bailout package as economy recovers

 

Irish prime minister Enda Kenny has announced his country is on track to end its €85 billion European and International Monetary Fund bailout package on December 15.

 

The bailout package, which Ireland received in the wake of the global financial crisis, forced it to impose strict austerity measures.

 

“I can confirm that Ireland is on track to exit the EU-IMF bailout on December 15. And we won’t go back,” Kenny says.

 

“It won’t mean that our financial troubles are over. Yes, there are still fragile times ahead. But at last, the era of the bailout will be no more. The economic emergency will be over.”

 

Overnight

 

The Dow Jones Industrial Average is up 0.73% to 15237.11. The Aussie dollar is down to US94.35 cents.

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Andrew Sadauskas

Andrew Sadauskas is a former journalist at SmartCompany and a former editor of TechCompany.

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