Pfizer chief executive Kindler in shock resignation after share price tumbles December 6, 2010 PFIZER chief Jeffrey Kindler has resigned, it was unexpectedly announced late Sunday night. Kindler, 55, cited personal reasons for stepping down, yet close sources believe he was pushed after major hits to the company’s prospects. As patents on Pfizer’s blockbuster drugs expire, several new drugs have been scrapped from the development process, observers say. Next [...]
PHILIPSZ WINS TURNER PRIZE December 6, 2010 GLASGOW-BORN Susan Philipsz became the first sound artist to win Britain’s Turner Prize yesterday, justifying her position as bookmakers’ favourite for the annual award worth £25,000 to the winner. Victory for the 45-year-old, whose work centres around recordings of her voice singing folk songs in public spaces, is likely to rile traditionalists who have criticised [...]
Former GSK executive is appointed Elan chairman December 6, 2010 ELAN, the biotechnology research company, have appointed former GlaxoSmithKline executive Robert Ingram as their new chairman, it was announced yesterday. The move comes after shareholders expressed concern over a lack of expertise in the firm, and opposed the re-election of non executive chairman Kyran McLaughlin. Following questions over his tenure earlier this year, McLaughlin had [...]
Imaginatik forced to call a shareholder meeting December 6, 2010 CONSULTANCY firm Imaginatik has been forced to call a general meeting after its former chief executive demanded the right to air a string of embarrassing allegations. Mark Turrell, who the firm says left by mutual agreement in June, called the meeting as Imaginatik’s biggest shareholder, with a 35 per cent stake. He is calling for [...]
US to sell remaining Citi stake December 6, 2010 The US government will sell off its remaining seven per cent stake in Citigroup – 2.4bn common shares – in an underwritten public offering, the Treasury Department said yesterday. The proposed offering would mark the disposal of a government stake in Citigroup that once stood as high as 36 per cent after $45bn in taxpayer [...]
Dubai’s Axiom cancels its IPO December 6, 2010 Axiom has cancelled its initial public offering and its plans to list on NASDAQ Dubai, the company said yesterday, citing market conditions. “While there were sufficient orders to fully cover the IPO book at the price range, primarily due to demand from high quality international investors in Europe and the US, there were widespread concerns [...]
Walmart heads to Supreme Court December 6, 2010 The Supreme Court said yesterday it would decide if the largest sex-discrimination class-action lawsuit in US history against Wal-Mart can proceed. It agreed to hear an appeal by the world’s largest retailer and the largest private employer arguing the claims of as many as 1.5m current and former female employees were too diverse to proceed [...]
AN ODD MIX OF SIGNALS, SO BUY GOLD December 6, 2010 CFD MARKET STRATEGIST, GFT THE LAST few weeks have seen an overall improvement in reported economic data, especially in the US. We have seen a pick-up in a number of influential reports, including the Richmond Fed manufacturing survey, the Chicago Fed National Activity index, Chicago PMI and consumer confidence. This led to a feeling that [...]
THE TIPSTER December 6, 2010 THERE will be no shortage of idle speculation as to why a French company wants to buy a British bank-note printer but overtures have certainly been made to De La Rue by a smaller Gallic rival. After stumbling earlier in the year over production problems, the shares predictably surged on this news yesterday, but with [...]
CFD NEWS December 6, 2010 BARCLAYS LAUNCHES IPHONE APP Barclays Stockbrokers launched a free iPhone application for its contracts for difference (CFD) clients yesterday. In addition to the standard features common across most iPhone trading applications, Barclays Stockbrokers are offering account holders the ability to view their trading history, multiple watch lists and real time updates on their account’s profit [...]
