We should be holding on to fast-growing tech firms February 11, 2013 SILICON Valley may still hold sway, but it is good to see two tech companies with British links, Blinkx and Monitise, continuing to perform impressively on a global stage. Blinkx is a pioneer in video search, based on technology conceived at Cambridge University. Now headquartered in San Francisco and London, it measures 148m unique users [...]
Refining margins jump at Essar Energy on increased capacity February 11, 2013 INDIA-focused Essar Energy yesterday reported a jump in refining margins over the three months to December, thanks to a major expansion in refining capacity at its Vadinar plant. Refining margins at the Vadinar refinery jumped 246 per cent over the quarter to $9.75 (£6.21) a barrel, up from $2.82 over the same quarter last year, [...]
Roll-Royce nets £62m fleet support deal with US Air Force February 11, 2013 BLUE CHIP engineer Rolls-Royce has won an engine support contract with the US Air Force, worth $97.3m (£61.9m). The contract, which runs until January 2014, involves the firm providing logistics, engineering services, programme management support, spare parts and technical data support to the US Air Force’s C-130J fleet. “We are proud that the US Air [...]
Investor body gives backing to Bumi ahead of board battle February 11, 2013 BELEAGUERED coal miner Bumi has won the support of shareholder advisory service Glass Lewis in the run-up to its boardroom showdown next week with company co-founder Nat Rothschild. The US proxy shareholder advisory firm has backed the Bumi board proposal, recommending that shareholders vote against all but three of co-founder Nat Rothschild’s proposals at the [...]
US drug firm Perrigo buys UK’s Rosemont Pharma for $283m February 11, 2013 PERRIGO, a US manufacturer of generic and over-the-counter drugs, said yesterday it has bought UK-based Rosemont Pharmaceuticals for about $283m (£181m) in cash to gain access to Rosemont’s oral liquid formulations business. The deal is expected to add eight cents to Perrigo’s adjusted earnings per share for the remainder of fiscal 2013, Perrigo said in [...]
Balfour Beatty wins uni deal February 11, 2013 Infrastructure group Balfour Beatty said yesterday it is the preferred bidder for a £45m housing project with Aberystwyth University. The 32-year concession contract will involve the design, build and maintenance of facilities for the university. The project will provide housing for 1,000 students, as well as communal facilities. Balfour will invest 10 per cent of [...]
Sanofi boosts stake in Regeneron February 11, 2013 French drugmaker Sanofi is buying more shares in US biotech company Regeneron Pharmaceuticals, its partner in the development of potential treatments for cholesterol and rheumatoid arthritis. Sanofi controls 16.7 per cent of Regeneron, or 15.82m shares. Sanofi said in an email that it has the right to raise the stake to as much as 30 [...]
Novo hit by insulin rejection February 11, 2013 Shares in Novo Nordisk tanked 13 per cent yesterday after US regulators rejected its new long-acting insulin Tresiba until it conducts extra tests for potential heart risks, dealing a major blow to a key product for the Danish drugmaker. The firm said the Food and Drug Administration’s decision would make it harder to meet long-term [...]
Pothole insurance claims double February 11, 2013 The number of insurance claims for pothole-related damage to cars on Britain’s roads more than doubled in January compared with the same month last year, according to broker AA Insurance. The company estimates 1,000 UK cars were seriously damaged by potholes during the month and blames deteriorating roads following a period of heavy rain, flooding, snow [...]
Credit scheme eats away rates on mortgages February 11, 2013 THE HOUSING market switched up a gear as 2013 began, several sets of data have revealed. Credit costs for a range of mortgage types plunged yet again, according to Bank of England data, suggesting that the government and Bank ’s Funding for Lending Scheme (FLS) has driven funds back into the housing market. The average [...]
