Japanese PM intervenes to weaken yen September 15, 2010 JAPAN intervened in the currency market to weaken the yen yesterday, ending a 15-year high and setting the tone for Prime Minister Naoto Kan’s time in office after fending off a leadership challenge on Tuesday. The dollar jumped to 85 yen from its earlier low of 82.87 immediately after the Bank of Japan, acting for [...]
ANALYST VIEWS:?WHAT DOES JAPAN’S MOVE TO INTERVENE MEAN? September 15, 2010 SIMON DERRICK | BANK OF NEW YORK MELLON The intervention by Japanese authorities was in the top ten largest interventions this year. It’s been very successful on the day. It’s interesting that there seems to be support from the EU for the intervention. ASHRAF LAIDI | CMC MARKETS It doesn’t mean much for the sterling-yen [...]
BlueCrest goes to the market for more cash September 15, 2010 HEDGE fund BlueCrest hopes to cash in on demand for its AllBlue fund to raise up to £80m this month, after announcing a share sale yesterday. It is the AllBlue fund’s third offering in 12 months, and will place new shares worth 9.99 per cent of total issued stock. AllBlue successfully raised £349m in June [...]
Twitter ready to monetise with revamp September 15, 2010 Twitter yesterday said it is redesigning its website in an effort to make it easier for users to navigate the service and discover new information. Chief executive Evan Williams announced that the four-year-old company, which on average is now signing up 370,000 new users daily, will introduce a completely new system which is more responsive [...]
Astra drug to face FDA delay September 15, 2010 ASTRAZENECA’S potential new blockbuster heart drug Brilinta faces a three-month delay in winning approval in the United States, slicing valuable revenue-earning time off the product. The company said the Food and Drug Administration (FDA) needed more time to study the application and would now complete its review by 16 December rather than by 16 September [...]
Eutelsat reaches more TV homes September 15, 2010 One of the world’s largest satellite operators Eutelsat Communications yesterday said it is reaching nine out of 10 homes in those countries it serves, as it announced the key highlights of its bi-annual survey of television reception by satellite and cable homes. Eutelsat own satellites that provide coverage over the entire European continent, the Middle [...]
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 [...]
Government to try again to sell off the Tote bookmakers September 15, 2010 THE GOVERNMENT will launch the sale of the state-owned Tote bookmakers in the late autumn, a minister confirmed yesterday. The disposal of the Tote, which takes bets on horse racing, football and other sports, forms part of a wider sale of government assets as the country aims to deal with a yawning budget deficit. “This [...]
Galliford Try forecasts more demand for jobs in the construction industry September 15, 2010 housebuilder and construction firm Galliford Try yesterday said it planned to cut a further five per cent of its workforce in the construction business amid fears of government spending cuts and a continued decline in demand. The company, which employs about 3,850 people, said it has cut as many as 15 per cent, or about [...]
Profit jumps by 78pc at Brooks Macdonald September 15, 2010 WEALTH manager Brooks Macdonald posted a 78 per cent jump in pre-tax profit for the year yesterday, prompting the Aim-listed firm to hike its dividend by 64 per cent to 9p. Brooks generated £35.1m in revenue in the year to 30 June, it said yesterday, and made a profit of £5.68m before tax. Its funds [...]