Sanofi-Aventis agrees to snap up Merck’s stake in Merial venture July 29, 2009 FRENCH drugmaker Sanofi-Aventis is understood to have agreed to buy the stake it does not already own in the Merial animal healthcare business from its US partner Merck. The acquisition is set to be announced this week, two people familiar with the situation said. They did not disclose the price of the transaction, but analysts [...]
THE MIDAS TOUCH July 29, 2009 ANNOUSHKA Ducas and John Ayton, the husband and wife team who successfully founded Links of London and sold it as a £50m business, yesterday launched a new jeweller y firm, “Annoushka.’’ The new company is born out of the takeover and rebranding of jewellery firm Pascal which was founded in 1972 by Jacob Izbicki.
Reckitt beats forecasts due to new lines July 29, 2009 CLEANING products group Reckitt Benckiser yesterday raised its full-year targets after beating forecasts with a 29 per cent jump in second-quarter profit but investors were focused on the loss of its US licence for Suboxone, a drug used to treat opiate addiction. Reckitt shares had dipped on investor concerns that the British company will lose [...]
The City remains a great place to forge a career July 29, 2009 THANKS to the global financial meltdown it has become social suicide to let slip you work in the City – never mind admit you are a banker. Chatting to some friends recently at a party, it was refreshing to learn many are now sick to the back teeth of apologising for their choice of career. [...]
IMF chief scandalised by large bonuses at US banks July 29, 2009 THE return of large bonuses for employees of US banks is a scandal, International Monetary Fund (IMF) managing director Dominique Strauss-Kahn said yesterday. “Frankly, I’m scandalised by what I’m seeing,” he said in an interview with France 24 television when asked whether he was concerned about large bonuses. He said they encouraged risky behaviour that [...]
Cadbury gets a sweet boost from UK sales July 29, 2009 BRITISH consumers tucking into chocolate for comfort and returning to nostalgic favourites during the recession have boosted sales at confectionery giant Cadbury. Total revenues rose 12 per cent in Britain and Ireland during the first half of 2009 with chocolate revenues jumping 13 per cent, outperforming the rest of the market. Chief executive Todd Stitzer [...]
ARE YOU COMFORTED BY CADBURY’S TRADING ? July 29, 2009 SAM HART CHARLES STANLEYThe company has announced that it has launched Fair Trade certified Dairy Milk in the UK and Ireland which may result in further share gains as a potentially substantial hurdle for competitors As a reflection of increasing confidence it announced an eight per cent increase in dividend. KEITH BOWMAN HARGREAVES LANSDOWNCadbury is [...]
Cost cutting at carmakers boosts profit July 29, 2009 CARMAKERS Honda and Nissan reported surprise profits for the last quarter yesterday, as cost-cutting at the firms started to pay off, while Peugeot Citroen blamed a drop in sales for heavy losses. Honda’s executive vice president Koichi Kondo said sales in the US, its key market, were falling short of expectations, and that it planned [...]
Halfords sales lift in sunshine July 29, 2009 CAR parts and bike retailer Halfords yesterday cheered investors as good weather and the government’s Cycle2Work fitness promotion boosted sales during the quarter. The group said total sales rose 1.3 per cent during the 13 weeks to 3 July, compared to the same period a year ago, as commuters rushed to buy bikes and camping [...]
Lupus Capital upbeat on outlook for construction July 29, 2009 LUPUS Capital, the construction investment group that ousted City entrepreneur Greg Hutchings earlier this month, said yesterday that tough trading conditions in the building products sector have started to ease. Lupus said yesterday its chief executive Keith Taylor had commenced a review of operations, and that the business is currently performing in line with expectations. [...]