Bottom Line: Look at the breathtaking impact of one blockbuster asthma drug April 30, 2014 THE CHANGING fortune of just one drug was responsible for most of Glaxosmithkline’s woes in the first quarter, an alarming reminder of how dependent the pharma business can be on a few blockbuster treatments. Glaxo’s best-selling asthma inhaler, Advair (marketed as Seretide in the UK), was dropped from an approved list by Express Scripts, the [...]
Shell hikes its dividend as gas helps earnings April 30, 2014 ENERGY giant Shell yesterday lifted its dividend after stronger earnings from gas kept profits from falling as much as expected. Shell, whose new chief executive Ben van Beurden started in the job with a profit warning in January, said yesterday that adjusted earnings fell three per cent to $7.33bn (£4.34bn), beating consensus estimates by 51 [...]
Analyst Views: How should investors take Shell’s latest results? April 30, 2014 RICHARD HUNTER | HARGREAVES LANSDOWNThe update has been well received… A busy divestment programme is in train, cash generation remains high, cost savings and further financial efficiencies have been identified, while the contributions from Shell's gas businesses in particular were robust. JONATHAN JACKSON | KILLIK & COThe latest results are very reassuring and highlight that the [...]
BBC parts ways with KPMG… and Paxman April 30, 2014 THE BBC has picked Ernst & Young as its new auditor, ending an 18-year relationship with KPMG. The corporation, which also announced yesterday that Jeremy Paxman was leaving its flagship Newsnight programme, chose EY following a competitive tender.
The Rocketman powers up and rocks Battersea April 30, 2014 BATTERSEA Power Station might be more synonymous with Pink Floyd than their contemporary Elton John, but it was the Rocket Man himself who shook the station’s four pillars last night as celebrities, London’s property heavies and potential residents of the site partied together. “Elton John said he never thought he’d play here. This is an [...]
Celebrating a 40th? Stage a large scale princess rescue of course April 30, 2014 ANYONE walking through Camden, on any given day, should expect to see weird and wonderful things but people strolling along its canal yesterday morning would have got an eye-full – of toys. Giant ones. Staging a princess rescue. Natch. The Playmobil crew was in town celebrating the toy’s 40th anniversary and, like anyone would, rented [...]
Handelsbanken seizing more of market as UK deposits double April 30, 2014 CHALLENGER bank Handelsbanken more than doubled its depositors base in the UK in the year to March, its latest financial report showed yesterday. Cash saved in the Swedish bank’s British accounts soared by 126 per cent to £6.4bn by the end of the first quarter of the year. At the same time UK lending increased [...]
Cyprus becomes third euro state to return to bond sales in April April 30, 2014 THE GOVERNMENT of Cyprus yesterday became the third on the Eurozone’s troubled periphery to return to bond markets this month. The country’s finance ministry said it had raised €100m (£82.5m) from the debt sale, conducted as a private placement on the London stock exchange. The six year bonds will yield 6.5 per cent interest. The [...]
BNP Paribas’ shares tumble on US fine fears April 30, 2014 BNP PARIBAS profits dipped in the first quarter as it set more money aside to cover legal bills, and its Italian business disappointed, the bank reported yesterday. Pre-tax profits fell 3.7 per cent on the year to €2.5bn. Revenues slid 0.6 per cent to €9.9bn while operating expenses fell 1.4 per cent to €6.4bn. But [...]
Tube peace talks resume tomorrow April 30, 2014 THE RMT union will meet with London Underground executives tomorrow in an attempt to avoid a second week of strike action, following the conclusion of a 48-hour walkout last night. Neither the union nor the Tube have offered to alter their stance on ticket office closures.
