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Pfizer raises its ‘final’ bid for AstraZeneca to £69bn

UK News - Mon, 05/19/2014 - 13:15

Pfizer CEO Ian Read on Sunday described the company's new proposal for AstraZeneca as "compelling" and cautioned that the American drugmaker would walk away if AstraZeneca didn't accept it.

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BT to add 1,600 engineers to Openreach workforce

UK News - Mon, 05/19/2014 - 12:14

New recruitments by BT are expected to help the telecom firm address complaints that it often leaves its customers stranded without access to internet for too long.

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Women out of workplace lose confidence: Thomas Cook CEO says

UK News - Mon, 05/19/2014 - 12:08

Thomas Cook CEO Harriet Green, who recently won the Veuve Cliquot Business Woman of the Year Award for transforming the troubled travel operator, said that new mothers should cut the amount of maternity leave they take as remaining out of work for a long period of time result in loss of confidence in the workplace.

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Troubled Co-op Group can take many years to stabilise

UK News - Mon, 05/19/2014 - 10:58

Beleaguered Co-op Group's members recently unanimously endorsed Paul Myners' proposed reforms, but the group's interim chief executive Richard Pennycook has warned that that it could take as many as five years to stabilise the mutual.

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Retailers in Northern Ireland enjoy nearly 13% rise in footfall

UK News - Mon, 05/19/2014 - 10:55

High street stores and shopping centres in the Northern Ireland enjoyed their highest footfall levels in the month of April since 2012, just released fresh data showed.

According to the Northern Ireland Retail Consortium/Springboard Footfall data, Northern Ireland's retailers enjoyed an impressive year-on-year increase of 12.8 per cent in the number of people passing through stores in April.

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Govt. may pare back “Help to Buy” housing scheme

UK News - Mon, 05/19/2014 - 10:51

The "Help to Buy" scheme that helps people buy their first home could be rolled back to addresses overheating housing market, Deputy Prime Minister Nick Clegg has indicated.

Mr. Clegg said that the government could pare back the mortgage help scheme in case the Bank of England (BoE) determines that the country's housing market is overheating.

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AT&T to acquire DirecTV for $48.5 billion

UK News - Mon, 05/19/2014 - 09:20

Telecom giant AT&T has agreed to acquire satellite TV firm DirecTV in a stock-&-cash deal worth around $48.5 billion, or $95 per share.

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Abbott agrees to acquire Latin America’s CFR Pharmaceuticals for $2.9bn

UK News - Sat, 05/17/2014 - 12:31

American pharmaceuticals & health care products firm Abbott Laboratories on Friday confirmed that it would acquire Chile-based CFR Pharmaceuticals SA in a $2.9 billion (£1.72 billion) deal.

Abbott will acquire nearly 73 per cent of CFR's publicly traded shares from founder Weinstein family-led holding company, while a tender offer will be issued for buying the remaining shares.

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Co-op Group members all set to vote on major overhaul plan

UK News - Sat, 05/17/2014 - 12:28

Representatives of the Co-op Group are all set to vote on a proposed major overhaul of the 150-year-old organization that will decide its future.

While former City Minister Lord Myners has proposed a major overhaul of the group, saying it is necessary to keep the group afloat; traditionalists within the group may oppose the proposal as are reportedly still denying problems.

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WPP joins shareholders’ revolt against Chime’s remuneration policies

UK News - Sat, 05/17/2014 - 11:43

Advertising giant WPP, the top shareholder in PR firm Chime, on Friday joined shareholders' revolt against the company's remuneration policies at its annual general meeting.

Nearly 25 per cent of Chime shareholders refused to support its future pay/remuneration policy for its executives, while 22 per cent of the shareholders turned down its last year's remuneration report.

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Boasting, indiscreet & vulgar comments aren’t OK: Colin Fan

UK News - Sat, 05/17/2014 - 11:41

London-based investment banker Colin Fan has warned traders that making boastful, indiscreet and vulgar comments could have serious consequences for your career.

Mr. Fan, the joint boss of Deutsche Bank's 'casino' division, said that some traders' communications were falling short of established standards, making a dent in the bank's reputation.

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Pfizer-AstraZeneca deal is not inevitable: Pascal Soriot

UK News - Sat, 05/17/2014 - 10:51

Pfizer's takeover bid for AstraZeneca is not inevitable and the Anglo-Swedish pharmaceutical giant can create value for its shareholder on its own, according to AstraZeneca CEO Pascal Soriot's claims.

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E.ON didn’t place enough rules & checks: admits CEO Cocker

UK News - Sat, 05/17/2014 - 10:47

After being slapped with a £12 million payout order by regulator Ofgem, energy supplier E. ON's chief executive has admitted that the company has failed to place enough rules and checks to avoid the latest mis-selling scandal.

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SW London most attractive location for young professionals

UK News - Sat, 05/17/2014 - 06:27

London's South West postal district, particularly the SW19 Wimbledon postcode, is the most attractive location for buying property for aspiring young urbanite professionals, according to a fresh survey by Lloyds Bank.

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FCA reprimands credit firms for producing misleading ads

UK News - Sat, 05/17/2014 - 06:23

The Financial Conduct Authority (FCA) on Friday reprimanded consumer credit providers for using irresponsible adverts that lack key information and mislead consumers.

The FCA, which took over responsibility for the financial sector in April, stressed that adverts must be clear, fair and not ambiguous/misleading for consumers.

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Compass to return £1 billion to shareholders via special dividend

UK News - Thu, 05/15/2014 - 14:29

Catering giant Compass has reported an increase of nearly 6 per cent in adjusted pre-tax profit for the six months to March 31 this year, announced decision to serve up £1 billion special dividend to its shareholders.

The Surrey-based world's largest catering group announced that its six-month pre-tax profit jumped 5.7 per cent year-on-year to £608 million.

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Admiral reports 7pc decline in Q1 turnover

UK News - Thu, 05/15/2014 - 14:26

British auto insurer Admiral Group Plc reported a decline of 7 per cent in turnover for the first quarter of 2014, even as the number of customers jumped 6 per cent.

The Cardiff-based insurance group said its turnover slipped to 514 million pounds (nearly $865M) in the three months ended March 31, 2014, down from 551 million pounds in the corresponding three-month period of the previous year.

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Sports Direct in talks to buy 30 gyms from LA Fitness

UK News - Thu, 05/15/2014 - 13:21

The UK-based sporting goods retailer Sports Direct International Plc is in talks to acquire numerous gyms from LA Fitness, a person familiar with the matter revealed.

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Large number of workers value jobs that don’t demand fixed hours: Vince Cable

UK News - Thu, 05/15/2014 - 13:18

Liberal Democrat Business Secretary Vince Cable has rejected the proposal to provide workers on zero-hours contracts with a legal right to a fixed-hours deal after twelve months with the same company/employer.

The Labour Party had proposed that people who are working under zero-hours contracts should be guaranteed a legal right to a fixed-hours contract with their employer after a year.

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China’ action against British executive may prompt firms to rethink their investments

UK News - Thu, 05/15/2014 - 12:57

Chinese police's action against a British executive of GlaxoSmithKline Plc might cause some international companies to rethink their investment plans in the country.

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