Speculation reignited in S&N bid talks January 16, 2011 SPECULATION over the ongoing Smith & Nephew bid mystery continued yesterday, amid reports that Johnson & Johnson had upped its bid for the UK manufacturer of replacement hips and knees. Despite a continued refusal to comment by the US pharmaceuticals company, Johnson & Johnson was widely reported to have revised its offer up to 800p [...]
Johnson & Johnson keeps quiet on bid rumours despite reports January 16, 2011 JOHNSON & JOHNSON is a US manufacturer of healthcare, medical and pharmaceutical goods, founded in 1886 by three brothers in New Jersey. It has been a Fortune 500 company since 1978, with total sales for 2009 of $61.9bn (£39bn). Throughout the takeover rumours Johnson & Johnson has maintained that it does not comment on speculation, [...]
Smiths turned down bid for medical arm January 16, 2011 SMITHS Group rejected a £2.45bn cash offer for the medical arm of its business, Smiths Medical, late last year, the company has revealed. The bid, which was from private equity group Apax (although Smiths did not itself confirm the bidder), was a “best and final” rejected as not in the best interests of shareholders. Smiths Medical [...]
Sacked Renault manager vows to fight his dismissal January 16, 2011 ONE of three Renault managers sacked for allegedly leaking electric vehicle secrets, is planning to fight the company’s decision to dismiss him, his lawyer said yesterday. Michel Balthazard, a member of Renault’s management committee and a leader of its electric vehicle programme, received a letter of dismissal on Saturday, which accused him of receiving money [...]
Starbucks hits back at McDonald’s with new cup January 16, 2011 STARBUCKS will soon introduce a new “Trenta” cup that will dwarf even its supersized Venti. The new offering will be available only for cold drinks such as iced coffee and iced tea and will cost around 30p more than Venti drinks. Seattle-based Starbucks tested the new size in several US markets last year, saying it [...]
Entrepreneurs offered £10m January 16, 2011 MITIE, the FTSE 250 strategic outsourcing company, is launching a £10m fund to back entrepreneurs. The firm said the “MITIE (Management Incentive Through Investment Equity) Entrepreneurial Programme”, will back management teams with innovative ideas for starting mutually owned businesses in the UK. It is open to people from both the private and public sectors who [...]
Whistleblower to aid WikiLeaks January 16, 2011 A former Swiss private banker who was one of the first whistleblowers to use WikiLeaks by publishing internal bank documents on the site has pledged to hand over new data on offshore bank account holders today, a newspaper said. Rudolf Elmer, who was fired from Julius Baer in 2002 and who goes on trial in [...]
WEST END FESTIVE HIGH DESPITE SNOW January 16, 2011 Christmas shoppers defied the December snow to boost December sales in London’s West End by 3.8 per cent year-on-year. New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street, said there was a huge sales increase in the final days before Christmas and in the end of year sales.
Tough economy takes its toll on marketing spend January 16, 2011 PESSIMISTIC companies spent less on marketing in the last three months of 2010 as a tough economy and uncertain outlook hit confidence, a new survey showed today. More than a fifth of firms lowered their advertising budgets as 32 per cent of respondents said their company’s financial prospects deteriorated, according to the Bellwether report from [...]
IPOs for Groupon and Pandora January 16, 2011 Online coupon site Groupon and Internet radio company Pandora are moving ahead with plans for initial public offerings, according to sources familiar with the matter. Chicago-based Groupon is meeting with bankers to explore prospects for a “meaningfully-sized” IPO after a recent bid from Google Inc – reported at $6bn (£3.8bn) – fell apart, one source [...]
