Shire’s Intuniv gets the nod in US September 3, 2009 Pharmaceutical firm Shire has received approval from US regulators for its extended-release hyperactivity drug Intuniv, and expects it to be available in US pharmacies in November. The company, which is Britain’s third largest drugmaker, is also pinning its hopes on a new human genetic therapies division that makes medicines to treat a range of rare [...]
Recession boosts McBride September 3, 2009 McBride, Europe’s biggest maker of retailer own-brand household products, posted a 34 per cent rise in annual profit yesterday as cash-strapped consumers downgrade in the downturn. The firm, which supplies supermarkets like Tesco and Carrefour with own-label goods ranging from dishwasher tablets to deodorant, said it made operating profit before one-off items and goodwill of [...]
Pound stores pull posh punters September 3, 2009 The number of pound stores has risen by 60 per cent in the last two years as posh shoppers have developed an eye for a bargain in the downturn. According to new research by the Local Data Company, just under half of the 1,423 discount stores are in London and the South East and, for [...]
CITY ANGER AS BROWN SIGNS UP TO BONUS CAP September 3, 2009 THE bitter row over the future of the City intensified yesterday after Prime Minister GordonBrown signed up to a joint Franco-German letter which signalled a fresh, much harsher line against bonuses. The letter to the G20 chairman, coming ahead of today’s meetings, said they should “explore ways to limit total variable remuneration in a bank [...]
JON MOULTON TO LEAVE ALCHEMY September 3, 2009 JON Moulton, the private equity guru, yesterday resigned as head of Alchemy Partners after a spectacular bust-up with his partners. Moulton resigned from the firm he founded 12 years ago following a row over strategy with his deputy Dominic Slade, who is set to take over the top job at the mid-market buyout house. He [...]
Credit Suisse eyes up fund September 3, 2009 SWISS bank Credit Suisse is in talks to buy part of Chicago investment outfit Mesirow Financial, as it looks to extend its foray into the hedge fund arena, US sources said yesterday. The bank, led by chief executive Brady Dougan, is hoping to secure a deal for Mesirow’s investment arm Mesirow Advanced Strategies, which manages [...]
Brown has finally killed off New Labour September 3, 2009 WHAT a waste; what a u-turn. For the past six months, the FSA, the Treasury and many top banks had been beavering away on innovative proposals to reform bonuses. Their idea, which had been gaining influence globally and even been accepted by the Tories, was to retain basic freedom of contract and the incentivising properties [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 3, 2009 FINANCIAL TIMES INTEL SEES WINDOWS OF OPPORTUNITYAn ageing line-up of PCs and the arrival of Windows 7 will cause companies to start spending again on computers next year, according to the head of the world’s largest chipmaker. The comments by Paul Otellini, chief executive of Intel, underscore growing optimism in the technology industry that next year will see a return [...]
BG staff are top earners September 3, 2009 STAFF at gas explorer BG Group make the most profit per employee of all the UK’s largest 100 quoted companies, it was claimed yesterday. Each BG employee added over £1m a year to the company’s bottom line, according to research from the Motley Fool. The research also said that British Land workers generate the highest [...]
US retail data shows recovery September 3, 2009 American retailers received a boost yesterday, as the latest figures showed that falling consumer demand began to flatten out, ending a period of sharp declines. August sales figures from top retail chains showed a drop in demand, but the fall was significantly less violent than in recent months. Retail Metrics, which tracks monthly sales figures [...]