Russia leaves door open for fresh BP deal May 18, 2011 BP’S hopes of teaming up with Rosneft were raised yesterday, when the Russian state-owned giant said talks could continue past Tuesday’s deadline for a planned £10bn share-swap. Rosneft said the new proposals “go… beyond the scope of the earlier agreements with BP”, a nod to the possibility of involving BP’s Russian joint venture TNK-BP, which [...]
London drives prime results at Land Securities May 18, 2011 COMMERCIAL property firm Land Securities yesterday posted a better than expected set of results, which chief executive Francis Salway credited to an improving London market and smart forward-planning. The results, described as “blow-out” by one property analyst, saw Land Securitie’s pre-tax profit for the year to the end of March rise 14.8 per cent to [...]
ANALYST VIEWS: WHAT DO YOU MAKE OF LAND SECURITIES’ FIGURES? May 18, 2011 KEITH CRAWFORD | PEEL HUNT Land Securities has the best niche exposures amongst leaders thus is our core recommendation within leader stocks. There appears to be little ‘drag’ factors in the results with all major categories of property showing material gains in the second-half. MIRANDA COCKBURN | MATRIX GROUP Management is showing it can beat [...]
Shire spends £460m on US ulcer remedy May 18, 2011 BRITISH drugmaker Shire said yesterday that it plans to buy privately held Advanced BioHealing, maker of a bio-engineered skin substitute, for $750m (£462m) in cash. Advanced BioHealing’s Dermagraft skin substitute is used to treat slow-healing diabetic foot ulcers. Shire said it would finance the purchase through existing cash resources and expects no impact from the [...]
Deal opens door to a potentially lucrative market May 18, 2011 INNOVATE or die: that is the choice facing pharmaceutical companies. In 2011 and 2012, over 35 blockbuster drugs will lose their patents, opening the way for cheaper generic rivals to steal market share and sales. As evidenced by the closure of Pfizer’s UK research site, most firms are retrenching under pressure from shareholders, who worry [...]
Hargreaves report rejects fair use May 18, 2011 A REVIEW of UK copyright laws has recommended reform but fallen short of the “fair use” proposal backed by Google. Reforms suggested in the Hargreaves Review focus largely on the film and music industries. One major recommendation is legalising the copying of music and films between formats for personal use. Another is a loosening of [...]
European Union aid to Airbus ruled illegal by World Trade Organisation May 18, 2011 RIVAL aircraft manufacturers Airbus and Boeing have both claimed victory following a landmark World Trade Organisation (WTO) ruling on illegal subsidies. A WTO appeals panel has partly overturned a key element of an earlier ruling that found Airbus had benefited from billions in illegal subsidies. European aircraft manufacturer Airbus said the ruling confirmed that reimbursable [...]
Intel ups ante on ARM with raft of new tablet PCs May 18, 2011 INTEL fired yet another warning shot across the bows of ARM Holdings yesterday, revealing that it will release at least 10 new tablet computers powered by its chips. Intel has failed to break into the market for mobile microprocessors, which is cornered by Cambridge-based ARM. However, Intel boss Paul Otellini told the firm’s investors this [...]
Green light for UK nuclear power May 18, 2011 THE UK is to push on with its nuclear plant building plans and let existing reactors run as normal, the government said yesterday after its nuclear watchdog dismissed fears of a Fukushima-like disaster in the UK. The UK’s position directly contrasts with that of Japan, Germany and Italy, which are re-thinking their nuclear plans after [...]
UK Mail says firms are facing unprecedented rise in post costs May 18, 2011 UK MAIL yesterday warned its margins would be eroded by above-inflation price increases being brought in by Royal Mail this month. Royal Mail is putting up wholesale charges for bulk users of its delivery services by 20 per cent, on top of a 4p hike in the price of a second-class stamp. Guy Buswell, UK [...]
