GlaxoSmithKline gets US green light for new drug targeting HIV August 12, 2013 THE US Food and Drug Administration yesterday approved Tivicay, GlaxoSmithKline’s drug targeted at HIV-1, the most common strain of the virus that causes AIDS. The drug, known generically as dolutegravir, is intended to be taken daily in combination with other HIV drugs. Tivicay, which interferes with one of the enzymes necessary for the virus to [...]
Greek GDP dips nearly a quarter in last five years August 12, 2013 THE STRUGGLING Greek economy is still shrinking, but has posted the smallest quarterly fall in two years, according to official figures released yesterday. Between the second quarter in 2012 and the second quarter this year, the embattled Mediterranean nation saw a 4.6 per cent contraction, the shallowest reduction since 2011. The country’s GDP [...]
Weak growth adds to heated debate over Japan’s sales tax August 12, 2013 THE JAPANESE economy grew by 0.6 per cent in the second quarter of this year, slipping below expectations and adding fuel to a debate over a controversial tax hike. Analysts had expected a rise of around 0.9 per cent, which was seen in the previous quarter, but growth is still more robust than it was [...]
Hungary repays IMF loans but EU suspends finance to the state August 12, 2013 HUNGARY yesterday paid back its emergency loans from the International Monetary Fund (IMF) well in advance of a 2014 deadline. The government believes it is now in a sufficiently strong position to finance itself from tax revenues and the bond markets. But the country has also had its funding for development programmes cut off by [...]
Sales blooming at Cath Kidston August 12, 2013 CATH KIDSTON, the quirky British retailer known for its brightly coloured floral prints, said yesterday sales topped £100m for the first time last year thanks to strong demand in the UK and overseas. The homewares and accessories chain, founded by the eponymous designer 20 years ago, said it now has more stores overseas than in [...]
Average flat price in England and Wales soars over £250,000 August 12, 2013 THE AVERAGE price of a flat in England and Wales has risen over the quarter of a million pound mark, according to new figures from the Land Registry, with the most expensive flat sold last quarter fetching £13.25m. A flat will now set buyers back an average of £250,101 across England and Wales – just edging [...]
Ex-Diageo boss prospers from share price surge with £14.8m August 12, 2013 FORMER Diageo boss Paul Walsh was paid £14.8m last year thanks to the company’s soaring share price over the last three years. Walsh, who stepped down at the start of July to be replaced by chief operating officer Ivan Menezes, pocketed around £12.3m alone from Diageo’s long term incentive plan, about 83 per cent of [...]
Highland Gold keeps output target August 12, 2013 Highland Gold, the Russian gold producer part-owned by oligarch Roman Abramovich, yesterday maintained its full-year production guidance of 225,000 to 240,000 ounces of gold, as it posted a 3.7 per cent increase in half-year output from two of its mines. Its newly-acquired Kekura project has started exploration activities.
Bank holiday strike at Stansted August 12, 2013 Stansted’s baggage-scanning staff have voted to strike over the August bank holiday over backdated pay cuts proposed by employer Mitie. The GMB union said 92 per cent of the workers who voted were in favour of the walkout. Mitie employs around 40 people to scan checked-in luggage before it is loaded onto planes.
SVG Capital values surge August 12, 2013 SVG Capital, the listed private equity group and the biggest investor in funds managed by Hugo Boss owner Permira, yesterday said the value of its portfolio shot up 23 per cent over the last six months. It also revealed a deal to sell its SVG Investment Managers division to Swiss-based investor Hansa Aktiengesellschaft.