Bribery claims hit Glaxo sales in China
Sales of GlaxoSmithKline’s medicines in China are thought to have dropped 30 per cent since officials accused the UK firm of corruption, according to Citi analysts’ provisional estimates.
Axa eyes Diana ingredient maker sale
Axa Private Equity is in talks with JP Morgan to finalise a mandate to advise on the debt rating and sale of the firm, people with knowledge of the matter said. Private equity groups including Blackstone are planning to submit indicative bids.
Regulators target fake online reviews
New York regulators set up a fake yoghurt shop in Brooklyn as part of a sting operation to ensnare companies posting false online reviews. The attorney-general’s office said a year-long investigation, dubbed Operation Clean Turf, resulted in a settlement with 19 companies to cease the manipulation of consumer-review websites.
Frackers fear landowner loopholes
The shale gas industry is demanding the right to frack without landowners’ consent. It has emerged drillers need landowners’ permission if horizontal wells pass beneath their land, or risk being liable for trespass.
World train operators want East Coast
The government is to plough on with re-privatising the East Coast main line before the election in a competition that could attract international railway bidders.
The Daily Telegraph
City and County home care for sale
The owner of City & County Healthcare, the provider of in-home carers and nurses, has put it up for sale with a £120m price tag. Sovereign Capital is looking for either a straight sale or an IPO by the end of 2013.
MEPs threaten accounting group
MEPs are threatening to cut funding from the International Accounting Standards Board unless it overhauls its rules.
THE WALL STREET JOURNAL
Egypt bans Muslim Brotherhood
An Egyptian court banned the Muslim Brotherhood yesterday in a decision that gives the government license to suppress the once-powerful Islamist group.
GM debt sheds Moody’s junk label
General Motors yesterday agreed to buy back $3.2bn of its preferred shares in a deal which led to Moody’s giving the car firm’s debt an investment grade rating.