The new rules of business dress: Is casual dying? June 26, 2014 It’s not just about perceptions – make use of “enclothed cognition” Ever since “business casual” exploded onto the sartorial scene in the 1990s, predictions of the death of smart business dress have come thick and fast. Levi’s posted an eight-page brochure titled A Guide to Casual Businesswear to around 25,000 human resource managers in the [...]
Markit share price soars on first day of US trading June 19, 2014 Markit, the UK financial data provider, saw its shares leap as much as 14 per cent yesterday during its debut on the Nasdaq Stock Exchange in New York. Markit, which raised $1.3bn (£762m) from the float, closed up 11.25 per cent at $26.70 after launching its shares at $24, the mid-point of its price range, [...]
Valeant goes hostile in bid for rival Allergan June 18, 2014 Valeant Pharmaceuticals International yesterday launched a hostile takeover bid for rivals Allergan, proposing that Allergan shareholders exchange each of their shares for $72 and 0.83 of a Valeant share, valued at roughly $52.7bn (£31bn) in cash and stock. The offer is contingent on Botox-maker Allergan’s shareholders approving the issuance of Valeant common shares in the [...]
What the other papers say this morning – 16 June 2014 June 16, 2014 FINANCIAL TIMES GSK spin-off set for possible listing A British biotech company spun out of GlaxoSmithKline is gearing up for a possible stock market flotation after strong trial results for a new painkiller. Convergence Pharmaceuticals was set up in 2010 as part of a restructuring of GSK’s research and development operations. The UK’s biggest drugmaker [...]
Medtronic nears deal for pharma rival Covidien June 16, 2014 THE WORLD’S biggest medical devices maker Medtronic is on the verge of clinching the largest cross-border drug merger ever after nearing an agreement with Irish rival Covidien. Medtronic, listed on the New York Stock Exchange, could announce as soon as today a stock and cash deal worth between $45bn (£26.5bn) and $50bn to takeover the [...]
Time Inc slides on debut June 9, 2014 Time Inc, the magazine company that is home to People, Sports Illustrated and Time, saw its shares fall 0.7 per cent on the New York Stock Exchange yesterday in its first trading session following a spinoff from its parent, Time Warner. Time will now operate on its own, no longer buffered by pay-TV channel HBO [...]
United chief Glazer dies in Florida home at age of 85 May 28, 2014 MANCHESTER United were last night mourning the loss of owner Malcolm Glazer, who died aged 85. The Glazer family purchased 90 per cent of shares in the 20-time Premier League champions in 2005 and sons Joel and Avi have most recently acted as United’s co-chairmen. Their father’s death is thought unlikely to have a significant [...]
What the other papers say this morning – 28 May 2014 May 27, 2014 FINANCIAL TIMES Pilgrim’s Pride bid disrupts deal Poultry company Pilgrim’s Pride has offered to buy Hillshire Brands for $6.4bn (£3.8bn) including debt, in a deal meant to head off Hillshire’s recent bid for Pinnacle Foods and create one of the US’s largest meat producers. Pilgrim’s offer of $45 a share – a roughly 22 per [...]
Euronext to list on its markets as ICE gets out May 27, 2014 EURONEXT is to list shares on four of its own stock exchanges across Europe as it becomes an independent company, its American owner Intercontinental Exchange (ICE) said yesterday. The firm will float on the Euronext markets in Paris, Amsterdam and Brussels in the next few months, before listing shares in Lisbon later in the year. [...]
What you need to know before the US open May 22, 2014 Investors will be taking time to digest the latest job numbers today, with stocks futures flat ahead of the weaker-than-expected numbers. Initial jobless claims for last week rose more than expected – to 326,000 from 298,000 the week before. Analysts had been expecting 310,000 people to sign on for the first time. Focus will shift [...]