Amgen pays $10bn for Onyx August 26, 2013 AMGEN has struck a deal to buy cancer drug maker Onyx Pharmaceuticals for about $10.4bn (£6.4bn), as it moves to restock its product pipeline in response to declining sales of its flagship anaemia drugs. The acquisition – which ends a two-month-long auction of Onyx – represents the fifth-largest biotechnology deal in history. It gives Amgen [...]
City Moves for 27 August 2013 | Who’s switching jobs August 26, 2013 Lloyds Bank The bank’s commercial banking arm has announced the appointment of Jacqueline Keogh as director of global trade. Keogh has over 25 years’ experience in the banking industry. She was most recently at Standard Chartered, where she was managing director, and regional head of banks for Europe in its transaction banking division. B Capital [...]
Best of the Brokers for 27 August 2013 August 26, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com SERCO Panmure Gordon rates Serco a “buy” with a target price of 700p and predicts upbeat first half results on Thursday. However it calls for caution as analysts say “the fall-out from the electronic tagging contract is not clear in its core business”. [...]
London Week Ahead: Mark versus market in first public speech August 26, 2013 BANK of England governor Mark Carney’s keynote lunch speech to business leaders in Nottingham tomorrow has already been dubbed “Mark versus Market” – with market watchers dubious about Carney’s claims for long-term low interest rates. Rob Wood, economist at Berenberg Bank, said: “Growing momentum in the economy, rapidly rising house prices, and wide disagreements on [...]
CNBC Comment: Emerging Asia is in a dangerous situation August 26, 2013 THE STORY of money being withdrawn from emerging markets is arguably overdone. But just as it chased a more thrilling adventure in a risk-free world of easy monetary policy, money is now seeking the comforts of home as markets price in tighter conditions. That spells a dangerous road for Asia’s shining hopes. Take Indonesia, often [...]
DailyFX: Analyst picks August 26, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Neither the euro-dollar nor the dollar-yen are behaving as desired, but of the two the dollar-yen is acting more in-line with what’s been expected. Last week I was waiting for [...]
Traditional university is on the cusp of a digital revolution – but it should survive August 26, 2013 VISIT any British university this autumn and you’ll see Britain’s fresh-faced youth being taught by academics in lecture halls, seminars, and (at the swanky end) tutorials. Although we live in an age when industry after industry has been transformed by the internet, almost all the teaching in our universities goes on face-to-face, in person. But [...]
We don’t need to look to US Republicans to find a crisis in conservatism August 26, 2013 RELATIONS between the UK Conservative Party and US Republicans are at an all-time low. Ask some Republicans their view of David Cameron’s Tories, and many talk disparagingly of “Barack Obama’s friends”. And many Conservatives aren’t unhappy about this, with the conventional wisdom on the state of US politics recently expounded by Tory MP Jesse Norman. [...]
Transparency over the true cost of investment is more vital than ever August 26, 2013 MARK Carney has been lauded by homeowners for giving forward projections on interest rates, now set to deliver record low mortgage bills for the forseeable future. Yet after four years of 0.5 per cent interest rates, many will see forward guidance as the final nail in the coffin for cash-based savings. There is already strong [...]
Letters to the Editor – 27/08 – HS2 alternatives, Foreign buyers, Best of Twitter August 26, 2013 HS2 alternatives Environmental opponents of the High Speed Two plans should consider the alternatives more carefully. The fact is we need more capacity, and no way of achieving this will leave the countryside entirely untouched. Some call for the widening of existing West Coast Mainline tracks, and the introduction of double-decker trains. But these options [...]
