GSK to stop paying doctors in overhaul to marketing plan December 17, 2013 GLAXOSMITHKLINE will stop paying doctors for promoting its drugs and scrap prescription targets for its marketing staff – a first for an industry battling scandals over its sales practices, and a challenge for its peers to follow suit. The drugmaker also said yesterday it would stop payments to healthcare professionals for attending medical conferences as [...]
Drivers foot bill as car insurers pass on £200m in extra costs December 17, 2013 THE PRIVATE motor insurance industry is passing between £150m and £200m in extra costs on to consumers every year, a report from the Competition Commission has found. Gaps in the settlement process for non-fault claims, overcharging for hire cars and inadequate repairs are behind the rising premiums, according to the report. It also concludes that a [...]
City Moves for 18 December 2013 | Who’s switching jobs December 17, 2013 Arbuthnot Latham The private bank has appointed Clara Gandelman Vila as a senior private banker in its executives team. She was most recently at UBS Wealth Management, where she was a client adviser in its key clients and high net worth divisions, focusing on UK and international private clients. Debevoise & Plimpton The law firm has recruited Tony [...]
Best of the Brokers for 18 December 2013 December 17, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS Panmure Gordon has downgraded the online fashion store from a buy to a hold rating,but as increased its target price from 5,950p to 6,126p. After a 124 per cent rise in the share price this year, Panmure thinks this momentum is unsustainable, [...]
London Report: Supermarket slump sees FTSE fall again after Monday’s lift December 17, 2013 BRITAIN’S main equity index fell yesterday, with big supermarket groups hit by fresh signs of a loss of market share, while uncertainty over future US monetary policy also weighed on the market. The blue-chip FTSE 100 index closed down by 0.6 per cent, or 36.01 points, at 6,486.19 points, retreating after a 1.3 per cent [...]
New York Report: US markets dip amid Fed meet December 17, 2013 US STOCKS closed slightly lower yesterday, with investors reluctant to make big bets before the results of a Federal Reserve meeting that could give some clarity as to when its policy-setting committee will begin trimming its stimulus. The Dow Jones industrial average slipped 9.31 points, or 0.06 per cent, to close at 15,875.26. The Standard [...]
The airport shortlist is out: Politicians must now promise to let Britain grow December 17, 2013 THE INTERIM report of Sir Howard Davies’s Airports Commission, released yesterday, is the perfect wake-up call to our political leaders. Expanding London’s airports is critical to Britain’s future economic well-being. And it can’t wait any longer. Davies’s two key findings are spot on. First, Britain doesn’t have enough runways to meet the demands that will [...]
Against the Grain: Roll on 2014: The last five years have been miserable for the global economy December 17, 2013 THE END of a year is always a good time to take stock. And for the first time since 2007, the prospects for the UK economy for the year ahead look unequivocally good. But looking back, just how bad have the last few years been across the developed world as a whole? And how do [...]
Mutuals will stay high street bit players for many Christmases yet December 17, 2013 MUTUALS and co-operatives have been promoted as the acceptable side of business by both arms of the coalition. Nick Clegg has lauded the Waitrose and John Lewis model. Advisers to David Cameron, as well as Vince Cable, have argued that the banking sector would be more stable if more companies followed the mutual model. But [...]
Letters to the Editor – 18/12 – Airport capacity, End of teaching, Best of Twitter December 17, 2013 Airport capacity [Re: Boris Island misses out on new runway shortlist, yesterday] An airport at the Thames Estuary is the most logical option, and it is disappointing that the proposal was excluded from the Davies Commission’s shortlist yesterday. We need to accept that the alternatives present too many complications. The political and environmental obstacles to Heathrow [...]
