Astellas buys cancer drug rights February 17, 2011 Japan’s Astellas Pharma has said it has agreed to pay $125m (£77.3m) in cash to Aveo Pharmaceuticals for worldwide rights outside of Asia to the drug tivozanib, which is in late stage clinical development for advanced kidney cancer. Aveo would also be eligible to receive up to an additional $1.3bn in future payments based on [...]
Nobel Biocare sees profits slump February 17, 2011 Swiss dental implant maker Nobel Biocare lost more ground to rival Straumann in the fourth quarter and added a slump in profit to the woes that ended finance chief Domenico Scala’s tenure 24 hours ago. The group, which has announced former Nestle executive Richard Laube as its new boss, posted an 80 per cent tumble [...]
CITY MOVES | WHO’S SWITCHING JOBS February 17, 2011 KPMG Robert Mirsky is joining the financial services firm as head of hedge funds in the UK. He was previously managing director of investment consultancy Laven Partners, and has worked for Ernst & Young’s hedge fund practice in the US. Mirsky, who trained as a lawyer in the US, is also the chairman and founder [...]
BEST OF THE BROKERS February 17, 2011 BETFAIR Liberum Capital rates the gambling group “sell” with a target price of 850p. The broker believes that the market is attributing too much value to the LMAX, the firm’s contracts for difference exchange, given that volumes since December have been poor. Liberum expects the firm’s update on 8 March to show sales were hit [...]
London flat as weak miners are offset by strong financials February 17, 2011 BRITAIN’S FTSE 100 share index closed slightly higher yesterday, as strong gains from banks offset weaker miners and optimism on corporate earnings outweighed Middle East political concerns. Banks advanced by upbeat broker comment and hopes for further good earnings reports from the sector, and overall sentiment on equities remained fairly positive. The FTSE 100 closed [...]
Wall St rises despite Middle East unrest February 17, 2011 US investors piled on a dizzying two-year advance in stocks yesterday, using a brief slip on negative economic news as an opportunity to buy into market leaders. The technology sector showed strength, with Nvidia up 9.8 per cent to $25.68 a day after posting a bullish revenue forecast on accelerating sales of its processors. An [...]
Investors in SANE states: keep calm and carry on February 17, 2011 AT the start of the year, investment opportunities seemed aplenty for those seeking exposure to Africa. The London Stock Exchange announced that the HSBC MSCI South Africa ETF, launched yesterday, brought the total number of London-listed exchange-traded funds (ETFs) based on emerging market indices to 75. South Africa, Algeria, Nigeria and Egypt find themselves following [...]
How to make Britain’s future February 17, 2011 PEOPLE should stop trying to make money out of money and make money out of inventing things,” James Dyson tells me, “it’s the best way to revive our economy.” Clearly a man of his word, he had literally just placed the last ceremonial brick on his latest philanthropic venture: the Royal College of Art’s (RCA) [...]
A real team needs a determined leader February 17, 2011 JUST as businesses have changed in the last 25 years, so have people’s attitudes to employment. It is not unusual to hear older business managers moan about the lack of loyalty staff show their employers these days. But many employers fail to realise that the changes in British business and these attitudes are actually a [...]
NEW DIGITAL FUNDING SCHEME February 17, 2011 Digital entrepreneurs are invited to join a £200,000 scheme aimed at helping to bring new UK innovations to market. IC Tomorrow, a technology strategy board programme, will invest in up to 20 consumer trials across creative market sectors including music, television, film, and publishing. The scheme will be high profile and provide the entrepreneurs with [...]
