Attention-deficit drugs boost Shire April 26, 2012 ■ Pharmaceutical firm Shire posted a 20 per cent rise in first-quarter earnings yesterday, just beating market expectations, as its drugs to treat hyperactivity lifted its US market share. Shire reported earnings per American Depositary Share of $1.48 in the three months to the end of March, on revenue 21 per cent higher at $1.17bn.
Shawbrook chief exec steps down April 26, 2012 ■ The chief executive of new business bank Shawbrook, Owen Woodley, has unexpectedly stepped down. The bank said he would be in post until today. His role will be filled on an interim basis by Philip George, currently joint managing director. Shawbrook is chaired by former RBS boss Sir George Mathewson.
FSA fines Exillon Energy £292,950 April 26, 2012 ■ The FSA yesterday fined Exillon Energy £292,950 for failing to identify around £930,000 of payments to its former chairman, and failing to disclose them to the FSA in a timely manner.
RALEIGH THROUGH THE YEARS April 26, 2012 1887 – Sir Frank Bowden bought an interest in a cycle company on Raleigh Street in Nottingham. The firm took its name from the street and was formed in 1890. 1960 – Raleigh Industries merged with TI Group, making Raleigh the world’s largest bike producer. 1970 – launches the Chopper, right, which was an enormous [...]
ADVISERS CAVENDISH April 26, 2012 CAVENDISH Cavendish advised on the sale of Raleigh. The deal is subject to regulatory approval in Germany, where Raleigh products are sold under license, and is expected to close at the end of May. The Cavendish team was led by Jonathan Buxton, partner, with support from Anya Cummins, associate director. “Raleigh, under the leadership of [...]
At a glance: American corporate results April 26, 2012 Colgate-Palmolive trumps expectations COLGATE-PALMOLIVE posted a higher quarterly profit yesterday that met analysts’ expectations as it increased advertising and cut costs to mitigate the impact of foreign currency fluctuations. The toothpaste maker also stood by its forecast for the year and said it remains comfortable with analysts’ expectations. Colgate earned $593m, or $1.23 per share, [...]
Vale profits are slashed in half by heavy rains April 26, 2012 VALE, the world’s largest iron ore miner, said that first-quarter profit fell by nearly half from a year earlier because rains limited exports, prices for its main products fell and spending on new mining projects rose. Net income in the three months ended 31 March fell 44 per cent to $3.83bn (£2.3bn) compared with $6.83bn [...]
Aerospace companies in lift as planemakers make comeback April 26, 2012 BRITISH aerospace suppliers Meggitt, Senior and Cobham yesterday said they had started 2012 well, boosted by robust demand from commercial planemakers as the sector recovers from a slump triggered by the global economic crisis. Meggitt, which supplies flight displays and wheels to planemakers Airbus and Boeing, said it was confident it would deliver full-year revenue [...]
Kazakhmys production hit by cold snap April 26, 2012 COPPER miner Kazakhmys yesterday posted a dip in first quarter output after unusually cold weather at the start of the year disrupted transport and processing. But the London-listed Kazakh miner forecast a stronger second half as it processes stockpiled ore and restarts the Konyrat open pit copper mine, shuttered in 2008, allowing it to confirm [...]
Low confidence hints at a deep Eurozone slump April 26, 2012 CONSUMER and business confidence fell in the Eurozone in April, official data showed yesterday, adding to fears that the current economic slowdown will not be over any time soon. The European Commission’s (EC) economic sentiment indicator fell 1.7 points to 92.8 this month, well below its long-term average of 100. The decline was driven by [...]
