Money Briefs: Peppa Pig owner snubs $1.8b ITV offer

Peppa Pig owner snubs $1.8b ITV offer

LONDON • The company behind Peppa Pig, the popular children's cartoon series, has spurned a £1 billion (S$1.8 billion) bid from television broadcaster ITV, it said yesterday. Canada-based Entertainment One said in a statement that it had "unanimously rejected" an informal takeover approach worth 236 pence per share, arguing that it "fundamentally undervalues the firm and its prospects".

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China central bank to push use of yuan

BEIJING • China's central bank said it plans to push the yuan's global use by seeking more cooperation with other countries and improving the infrastructure needed to support wider use of the currency.

The comments were included in a statement on the People's Bank of China website yesterday.

The statement comes almost a year after China's August 2015 devaluation of its currency, which roiled global markets and sent stock and commodity markets tumbling.

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A version of this article appeared in the print edition of The Straits Times on August 11, 2016, with the headline 'Money Briefs'. Print Edition | Subscribe