Pfizer plans job cuts as AstraZeneca slams 'opportunistic' bid - UPDATE
13th May 2014 15:50
Ian Read, Chairman and Chief Executive of Pfizer, said the company would trim job numbers as part of cost-cutting measures if its bid for AstraZeneca was successful, with an improved bid and hostile takeover still on the cards. Facing questions from UK members of parliament about the US company's
Read moreFTSE 100 movers: Housebuilders lifted by Taylor Wimpey, easyJet slides
13th May 2014 14:39
Barratt Developments and Persimmon tracked sector peer Taylor Wimpey higher, which rose after giving a bullish outlook alongside a 'new and enhanced set of financial targets'. AstraZeneca was also higher after reiterating its defence to an attempted takeover by US rival Pfizer. AstraZeneca said Pf
Read moreAstraZeneca slams 'opportunistic' Pfizer bid
13th May 2014 11:46
On the day when both company's chiefs were being quizzed by UK members of parliament, AstraZeneca has criticised US pharmaceutical rival Pfizer for what it said was an undervalued and 'opportunistic' takeover bid. "The board of AstraZeneca believes Pfizer is making an opportunistic attempt to acqui
Read moreLondon midday: FTSE 100 trims gains but housing stocks rise
13th May 2014 11:23
- FTSE 100 hits 14-year intraday high - Housing stocks lifted by Taylor Wimpey comments - easyJet, TUI Travel and LSE fall techMARK 2,802.35 +0.28% FTSE 100 6,859.54 +0.11% FTSE 250 16,029.39 +0.30% UK markets had trimmed gains by Tuesday lunchtime after having hit their highest intraday levels in
Read morePfizer considering higher offer for AstraZeneca
13th May 2014 06:50
US pharmaceutical giant Pfizer is said to be planning to raise its cash-and-shares offer for UK rival AstraZeneca again. According to Bloomberg, which cited unnamed sources, Pfizer could sweeten its bid to "modestly above" the current £50-a-share level, while lifting the cash portion of the offer.
Read moreTuesday newspaper round-up: Ukraine, RBS, AstraZeneca
13th May 2014 06:18
Separatist leaders in Ukraine's volatile Donetsk region formally asked to become part of Russia on Monday, going beyond the simple independence question raised in a referendum and advancing the threat of Ukraine's break-up. The declaration bore some resemblance to the referendum and annexation scena
Read morePfizer defends proposed AstraZeneca deal
12th May 2014 13:25
Pfizer on Monday defended its plan to buy AstraZeneca following a slate of criticism surrounding the proposed deal. The pharmaceutical company also questioned AstraZeneca's ability to stand alone for much longer as the group's Chief Executive Pascal Soriot faced a grilling from MPs over the plan.
Read moreLondon midday: Miners give markets a boost despite Ukraine worries
12th May 2014 11:37
- JPMorgan, China hopes lift mining stocks - Ukraine in focus after referendums - BSkyB falls amid Fox pay-TV deal speculation techMARK 2,793.49 +0.40% FTSE 100 6,844.10 +0.43% FTSE 250 15,961.01 +0.48% Upbeat comments from JPMorgan Chase & Co and a good performance on Chinese markets overnight ga
Read moreLondon open: Miners lead stocks higher on Chinese stimulus hopes
12th May 2014 08:29
- Chinese stimulus hopes increase after Xi comments - Ukraine in focus after regional referenda - BSkyB in talks with Fox over German, Italian assets techMARK 2,785.14 +0.10% FTSE 100 6,828.98 +0.21% FTSE 250 15,940.81 +0.35% UK stocks edged higher on Monday morning despite heightened tensions in
Read moreLondon pre-open: FTSE to rise, traders eye stimulus in China
12th May 2014 07:40
The week is set to get off to a positive start for UK stocks, following a mixed picture in Asia overnight and a decent finish in the US on Friday. The Dow Jones Industrials managed to set a fresh record high, although the 16,000 point area continues to act as resistance for now. City sources are p
Read moreAstraZeneca announces positive results from brodalumab study
12th May 2014 07:12
AstraZeneca said the Phase III Amagine-1 study evaluating brodalumab in patients with moderate-to-severe plaque psoriasis met all primary and secondary endpoints. Results showed that 83.3% of patients in the 210 mg group and 60.3 patients in the 140 mg group achieved at least a 75% improvement from
Read moreSunday newspaper round-up: AstraZeneca, BSkyB, interest rates
11th May 2014 11:23
Pfizer has been advised by a top US law firm that its assurances over the proposed £63bn takeover of AstraZeneca are legally binding, the Sunday Times reported. Chief Executive Ian Read hopes the opinion from Skadden Arps will help cool the political argument over his intended deal. He will be quest
Read moreLondon close: Traders book profits ahead of key risk events
9th May 2014 16:59
- FTSE closes down 24.68 points at 6,814.57 - Permanent salaries grow at quickest since 2007 - Petrofac slumps - NIESR ups UK growth forecasts techMARK 2,782.32 -0.89% FTSE 100 6,814.57 -0.36% FTSE 250 15,885.21 -0.52% UK stocks ended the final session of the week in the red, weighed by Petrofac a
Read moreFriday newspaper round-up: Russia, Britain, AstraZeneca
9th May 2014 07:29
The European Central Bank says capital flight from Russia since the Ukraine crisis erupted may be four times higher than admitted by the Kremlin, a clear sign that sanctions pressure is inflicting serious damage on the Russian economy. Mario Draghi, the ECB's president, said the outflows from Russia
Read moreBroker tips: HSBC, AstraZeneca, Rolls-Royce...
7th May 2014 13:34
HSBC shares will continue to underperform the wider banking sector following the company's 'mixed' first-quarter results, according to wealth manager Brewin Dolphin. Overall, we would argue that this is a mixed set of results: costs, impairments and capital were all either better or in line with ex
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