Reckitt Benckiser to be sued for £89m over supply of Gaviscon April 17, 2011 THE health authorities are suing Reckitt Benckiser for £89m over the supply of its heartburn medicine Gaviscon, the company said yesterday. “We will be vigorously defending it [the lawsuit],” a Reckitt spokeswoman said. In October, Reckitt was fined £10.2m by the Office of Fair Trading after admitting abuse of its dominant position in Britain for [...]
FTSE lower as Eurozone business activity slows November 23, 2011 Investors remained hesitant today as grim new data on private sector activity around the world raised fresh fears of a recession in Europe at the end of this year. Asian markets closed lower after purchasing managers’ index data from China saw activity slump to the lowest level in more than two and a half years, [...]
BEST OF THE BROKERS October 26, 2011 RECKITT BENCKISER Citi rates the household goods maker “buy” with a target price of £40. The broker has cut its forecasts for the firm to reflect higher than expected Medicaid rebates, offsetting expected rises in organic growth. However, Citi continues to see the valuations for the firm as compelling, with the stock currently trading on [...]
BEST OF THE BROKERS October 26, 2011 RECKITT BENCKISER Citi rates the household goods maker “buy” with a target price of £40. The broker has cut its forecasts for the firm to reflect higher than expected Medicaid rebates, offsetting expected rises in organic growth. However, Citi continues to see the valuations for the firm as compelling, with the stock currently trading on [...]
CITY MOVES | WHO’S SWITCHING JOBS November 14, 2011 BTG The specialist healthcare company has appointed Garry Watts to succeed Dr John Brown as non-executive chairman, effective from 1 January 2012. Watts is chairman of the Spire Healthcare group of private hospitals, a senior independent director at Stagecoach Group and a non-executive director of Coca-Cola Enterprises. He was chief executive of SSL International for [...]
THE WEEK AHEAD October 23, 2011 COMPANY NEWS ● Tomorrow, BG and BP announce third-quarter results. The tide might just be turning for BP – its run of bad news is dissipating somewhat on the news of new North Sea investments. Royal Dutch Shell announces on Thursday. ● Reckitt Benckiser announces tomorrow. The world’s largest producer of household products, which is [...]
BEST OF THE BROKERS September 26, 2011 RECKITT BENCKISER ING rates the consumer goods group “buy” with a target price of £40.55. The broker sees Reckitt as one of its top picks in the fast moving consumer goods sector, with expected growth in developing markets set to more than make up for stagnant performance in Europe. ING also notes that the firm [...]
Reckitt probing Nurofen mix-up August 25, 2011 RECKITT Benckiser and AstraZeneca said they are investigating the cause of a mix-up that led to powerful anti-psychotic drugs ending up on pharmacy shelves in Nurofen Plus packaging. Reckitt, which makes Nurofen, said consumers in south London should check drugs for gold and black packaging, which could mean the pills inside are actually Seroquel XL, [...]
FirstGroup’s Carr moves over to Ahold September 14, 2011 DUTCH supermarket group Ahold yesterday appointed Jeff Carr as its new chief financial officer, picking an executive with experience at Unilever, Associated British Foods and easyJet. Carr, 49, is currently a board member at transport company FirstGroup and personal care products group McBride. Both firms said that he will be standing down, and FirstGroup said [...]
FirstGroup’s Carr moves over to Ahold September 14, 2011 DUTCH supermarket group Ahold yesterday appointed Jeff Carr as its new chief financial officer, picking an executive with experience at Unilever, Associated British Foods and easyJet. Carr, 49, is currently a board member at transport company FirstGroup and personal care products group McBride. Both firms said that he will be standing down, and FirstGroup said [...]