Glaxo drug to face the axe September 6, 2010 GLAXOSMITHKLINE’S diabetes drug Avandia should be pulled from sale because of concerns about heart risks, British drug regulators said yesterday ahead of a special European meeting on the drug’s safety. The strong line from safety experts in the drugmaker’s home market is a fresh blow to a medicine that was once Glaxo’s second biggest seller [...]
Tesco director Lucy Neville Rolfe joins the board of ITV September 6, 2010 TESCO’S corporate and legal affairs director Lucy Neville-Rolfe yesterday became the first woman to join the board of broadcaster ITV following Archie Norman’s arrival as chairman earlier this year. Neville-Rolfe, one of Tesco’s most senior figures, has been at the retailer for the past 13 years. Prior to that, she spent years in Whitehall, including [...]
Avandia is not material September 6, 2010 SENIOR doctors’ proposal to withdraw Avandia on safety grounds, which remains subject to an EU-wide final decision this month, would have little impact on the valuation of Glaxo. The market has long assumed declining future revenues and contribution to earnings from the diabetes drug. The peak year for sales was back in 2007 when it [...]
Focus on C&W WW heats up September 6, 2010 CABLE & Wireless Worldwide (C&WW) yesterday surged ahead on the London Stock Exchange, buoyed by talk of a potential takeover bid in the offing from Eastern rival Singapore Telecom. Shares in the telecoms group, demerged earlier this year from the consumer-focused arm Cable & Wireless Communications, bounced to as high as 78p in early trading, [...]
Unicredit puts heat on Libyan investors September 6, 2010 ITALY’S biggest bank UniCredit will ask Libyan investors to show they are independent shareholders, chief executive Alessandro Profumo said yesterday, after their stakes triggered concern among some politicians. Libya’s sovereign wealth fund took a 2.075 per cent stake in UniCredit in late July, joining the Central Bank of Libya as a top shareholder. The two [...]
ANALYST VIEWS: HOW LIKELY September 6, 2010 TOM GIDLEY-KITCHIN | CHARLES STANLEY We see C&WW’s networks and business as being attractive to a number of potential acquirers but we had not expected there would be any bid interest for another 12 months or so and that may well still be the case. WILL DRAPER | EXECUTION NOBLE A bid is likely eventually, [...]
DAUGHTERS JOIN DADS FOR GALA FUNDRAISER September 6, 2010 IF THE remaining doubters needed proof that the City has opened its arms wide to the talents and potential of the fairer sex, look no further. The Mansion House yesterday evening played host to hundreds of guests for the latest gala fundraiser for Lord Mayor Nick Anstee’s charity Appeal: a dinner specifically for the fathers [...]
End of pre-Budget report September 6, 2010 Britain will publish economic forecasts and a fiscal statement later this year, the Treasury said yesterday, but the event is expected to be narrower in scope than usual and is unlikely to change the policy outlook. The statement is also unlikely to fall on the same day as the Conservative-Liberal Democrat coalition government’s spending review [...]
M&G’s bond fund taps inflation fear September 6, 2010 Prudential’s fund management arm, M&G, is tapping into fears of resurgent inflation and appetite for bonds with an inflation-linked corporate bond fund, which it says is the first of its kind. M&G Investments said yesterday its UK Inflation Linked Corporate Bond Fund, aimed at the retail sector, will invest in fixed interest securities “that should [...]
Julius Baer to double Asian assets September 6, 2010 Julius Baer, Switzerland’s third-largest private bank, plans to double its Asian assets to 20-25 per cent of its total in five years as it recruits new staff and opens more offices in the fast-growing region. Julius Baer, which had 166bn Swiss francs (£100.9bn) in assets under management as of the end of June, derives the [...]
