GSK and Merck give cheap vaccines April 9, 2012 International vaccines group GAVI has struck a deal for bulk buying rotavirus shots from GlaxoSmithKline and Merck which cuts the price by two-thirds and will allow poor countries cheaper access. The vaccines, GSK’s Rotarix and Merck’s Rotateq, combat the main cause of diarrhoea – the second-largest killer of children under the age of five worldwide.
Thomas Cook nears a £1.2bn deal over debt April 9, 2012 STRUGGLING holiday group Thomas Cook confirmed yesterday that it is close to a deal to roll over some of its £1.2bn debt pile. The 170-year-old firm said it is in “advanced talks” and expects to have an agreement with its lenders, who include RBS and Barclays, in time for its half-year results in May. Thomas [...]
Iberia cancels 150 flights as strikes begin April 9, 2012 PILOT STRIKES at British Airways’ Spanish sister Iberia grounded 150 flights across Europe yesterday, in the first phase of industrial action that could cause travel misery during the peak summer season. Staff walked out yesterday in the first of 30 one-day strikes to protest against the start-up of low-cost carrier Iberia Express, owned by International [...]
Barclays shrugs off criticism of executive pay April 9, 2012 BARCLAYS is relaxed about the row over bonuses for its top executives and would be unfazed if an expected 10 per cent of shareholders vote against its remuneration report, said a source familiar with the bank’s thinking. The bank has shrugged off criticism amid suggestions that four of its biggest British institutional shareholders could cast [...]
Why most investors don’t care if Diamond gets rich April 9, 2012 IT used to be big news if the likes of Standard Life, Scottish Widows, Fidelity and Aviva combined forces to vote against a company’s remuneration report. Such a roster of big British institutions would have had the clout and the votes to make the company reconsider its intentions or risk a very bloody nose. Hence [...]
Fannie Mae to sell $500m bills April 9, 2012 Fannie Mae, the largest US home funding source, said yesterday it will sell $500m of benchmark bills on Wednesday, 11 April. The sale will include $250m of three-month benchmark bills due 11 July 2012, and $250m of six-month bills due 10 October 2012 in a Dutch auction. In such uniform price auctions, successful bidders pay [...]
Investor Icahn sues Amylin April 9, 2012 Carl Icahn has sued Amylin Pharmaceuticals to block enforcement of a bylaw that prevents the billionaire investor from launching a proxy fight that could lead to a sale of the maker of diabetes drugs. Icahn, whose 8.94 per cent stake has made him Amylin’s third-largest shareholder, faulted the company for failing to reveal its rejection [...]
Boris promises £35m fund for London firms April 9, 2012 BORIS Johnson will today announce plans for a new £35m fund for London that would provide low-cost loans to the capital’s small and medium–sized businesses, City A.M. can reveal. “The fund would provide average loans of around £100,000 for each company, and if successful in attracting other funds, could drive growth for around 500 companies,” [...]
Ken pledges to make capital a Smart City April 9, 2012 LABOUR candidate Ken Livingstone will today pledge to introduce a series of technological improvements that he claims will save London money and increase efficiency. His manifesto will include a commitment to creating a ‘Smart City’ where City Hall uses data to monitor the usage of services and improve quality of life. Specific proposals will include [...]
Alliance set to rouse investors to fight Laxey April 9, 2012 DIRECTORS of Alliance Trust and the activist investor leading a campaign against its chief executive Katherine Garrett-Cox are set to begin lobbying shareholders in the run-up to a crunch vote on the management of the fund. The £2.1bn investment trust believes ensuring a high turnout will help it to beat hedge fund Laxey Partners, whose [...]
