Sanofi chief hopeful of buying Genzyme September 15, 2010 SANOFI-AVENTIS sees a reasonable chance of buying US biotech Genzyme at a fair price, but expects it will take some time to agree a deal that would further diversify the French drugmaker and strengthen its US foothold. Chief executive Chris Viehbacher yesterday reiterated Sanofi would not be rushed to buy Genzyme, a specialist in rare [...]
Anglo Irish Bank bailout price tag £29bn September 30, 2010 Ireland’s central bank has put a 34 billion euro (£29bn) price on bailing out stricken Anglo Irish Bank under a worst case scenario and said Allied Irish Banks needs to raise an additional three billion euros by the end of the year. The government will announce plans to recapitalise Allied Irish Banks, the central bank [...]
US defies China in currency row September 29, 2010 THE RISK of a global currency war escalated yesterday as the US passed a measure threatening trade with China in response to its efforts to keep the yuan undervalued. Politicians voted 348 to 79 in favour of a measure that would allow – but not require – the US Department of Commerce to assess levies [...]
BEST OF THE BROKERS August 25, 2010 AMLIN The insurer’s underlying performance remained solid despite results at the bottom end of consensus estimates, according to Jefferies. The broker added that Amlin should see the benefits of pruning its portfolio in 2011. Jeffries kept its EPS forecasts for 2011 unchanged at 6.3 times after high acquisition costs, but kept its “buy” rating. PERSIMMON [...]
ATKINS BUYS US FIRM PBSJ FOR £178M August 2, 2010 ENGINEERING group Atkins, led by chief executive Keith Clarke (above), said it would buy US engineering design firm PBSJ for £178m yesterday, filling a gap in its geographic coverage. Atkins, which helps design big building projects such as London’s 2012 Olympic site, will fund the purchase with cash reserves and a £150m four-year facility.
City says Red Ed is anti-business September 26, 2010 ED MILIBAND’S policies could have “very serious consequences” for the economy, a City pressure group warned yesterday, after the new Labour leader used his first major interview to launch a scathing attack on bankers. Ed Miliband, who beat his brother David in the race to become Labour leader by mopping up trade union votes, yesterday [...]
Consumer confidence dips with age August 15, 2010 RESEARCH has shown a yawning gap in the effect of the recent austerity Budget on confidence levels among young and old people. PricewaterhouseCoopers (PwC) found 30 per cent of 18-24 year-olds think they will be better off in 12 months’ time. Confidence then dips on a declining scale, turning negative among 35-44 year-olds and bottoming [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 27, 2010 FINANCIAL TIMES SOUTH AFRICA STILL A DRAG ON ANGLO AMERICAN Anglo American, the mining company, is finding it hard to escape its South African roots despite its efforts to become a cosmopolitan corporate citizen. An array of risks in South Africa, the source of 41 per cent of operating profits last year, is having an [...]
Bristly Redknapp may be starting to feel pressure September 15, 2010 HARRY Redknapp seems to be getting a bit bristly in his old age. The Tottenham manager objected to the notion that his side’s failure to hold onto a two-goal lead at Werder Bremen on Tuesday suggested they had lessons to learn about the Champions League. That’s silly. Make no mistake, Spurs will view the result [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 26, 2010 FINANCIAL TIMES CHINA AND US CLOSER ON TRADE TARGETS China and the US have the basis for an agreement at the summit of the Group of 20 leading nations next month on setting targets to cut trade imbalances, according to an adviser to the Chinese central bank. Li Daokui, a member of the central bank’s [...]