Sanofi stock slides as it reveals bleaker than expected outlook February 7, 2013 FRENCH pharmaceutical giant Sanofi said yesterday that its earnings could fall this year as it continues to feel the effects of expiring patents. Sanofi, which saw earnings slide last year as cheaper generic rivals grabbed market share from some of its medicines, said 2013 earnings would be flat to five per cent lower than in [...]
Afferro rejects Jindal as offer falls short for iron ore project February 7, 2013 AFRICAN-focused Afferro Mining yesterday said discussions had ended with Indian Jindal Steel and Power, on the basis that the New Delhi-based company undervalued Afferro’s assets. Junior stock market-listed Afferro said that the indicative offer from Jindal “fundamentally undervalued the company’s high quality, strategically located portfolio of iron ore projects in Cameroon and its strong balance [...]
Barclays supports Bumi board in run-up to boardroom battle February 7, 2013 ANALYSTS from Barclays yesterday spoke out in support of the Bumi board strategy, just two weeks before the boardroom battle that will decide the coal miner’s future. Having spoken to chief executive Nick von Schirnding, Barclays said in a note that “the strategy being pursued by the current board and company is the right one”, [...]
Lift for Anglo and Xstrata February 7, 2013 MINERS Anglo American and Xstrata got a boost from their jointly-owned copper mine in Chile yesterday, as they announced that the project’s reserves had been hiked by almost a fifth. The blue chip miners, which each hold 44 per cent, said that Collahuasi had 19 per cent more copper reserves than previously thought, at more [...]
BP bids farewell to Byron Grote February 7, 2013 Oil giant BP yesterday said that senior board member Byron Grote is to step down, after 33 years with the company. Grote, who retired as chief financial officer at the end of 2011, will resign at the group’s AGM this April after 13 years on the board. Since joining the energy behemoth in 1987, the [...]
Wincanton trading in line February 7, 2013 Supply chain firm Wincanton said yesterday it continued to trade in line with expectations over the period from October. Its contract logistics business performed “robustly”, winning several new contracts. It plans to open three new distribution centres for retail grocery customers later this year. Within its specialist businesses, the records management continued to perform strongly, [...]
Total to offload fertiliser units February 7, 2013 French oil major Total has received a firm offer from chemicals company Borealis to acquire GPN, a wholly-owned Total subsidiary and France’s largest nitrogen fertiliser manufacturer. The Austrian chemicals and plastic solutions company has also made an offer to acquire Total’s 57 per cent stake in Belgian fertiliser manufacturer Rosier, for €200 (£171) a share.
Top football clubs call time on sugar daddies February 7, 2013 THE DAYS of mega-rich individuals, such as Roman Abramovich at Chelsea and Sheikh Mansour at Manchester City, lavishing billions on clubs in pursuit of instant success are over after England’s top teams agreed historic new financial rules. Premier League clubs will face points deductions if they lose more than £105m over a three-year period or [...]
Scrap January window, says Hammers captain February 7, 2013 WEST HAM captain Kevin Nolan has called for the January transfer window to be scrapped, insisting no one in football is in favour of it any more. His comments come after Queens Park Rangers manager Harry Redknapp complained of “gang warfare” among agents trying to muscle in on each other’s transactions as last week’s deadline [...]
Breakdown key to England’s Dublin mission February 7, 2013 IS IT premature to be calling England’s game in Dublin a Six Nations title decider? If England clear the breakdown as quickly as they did against New Zealand and Scotland then I back them to win tomorrow. What’s certain is the magic of the championship means we can anticipate drama. This year’s tournament looked too [...]
