Euro Forex Station » News Briefing

AstraZeneca to Cut 7,300 Jobs Amid Pressure on Revenues

admin — Thu, 02 Feb 2012 15:46:04 +0000

The Anglo-Swedish pharmaceutical group–AstraZeneca pledged to buy back $4.5bn of its shares in 2012 as the company warned of increasing pressure on its revenues and unveiled its plans to cut 7300 jobs.
The company posted the full-year revenues down by 2% at constant exchange rates to $33.3bn on the back of about $2bn in sales lost to generic competition and $1bn due to government prices.

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BlackBerry Maker Shakes up Board

admin — Mon, 23 Jan 2012 11:53:20 +0000

Mike Lazaridis and Jim Balsillie, joint chairmen and chief executives of the embattled Canadian maker of the BlackBerry smartphone–Research In Motion, have resigned as part of a long-awaited shake-up at company.
According to RIM, it is said late on Sunday that Mr Lazaridis would go on taking an active role as vice-chairman and head of a new board committee on innovation. On the other hand, Mr Balsillie is leaving the company, but will remain a director.

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Vodafone Wins $2.9bn India Tax Battle

admin — Sat, 21 Jan 2012 14:35:00 +0000

The supreme court in India just found in favour of the UK-listed telecom company–Vodafone in a landmark case that had threatened to land the telecoms business with a tax bill of $2.9bn and further dent India’s faltering investment environment.
The decision is a defeat for the income tax department in India, which spent five years pursuing Vodafone for capital gains tax the company claimed was due following its $10.9bn acquisition of Hutchison Essar in 2007.

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Getting a Good Hosting Service Package to Reduce Your Workloads

admin — Tue, 10 Jan 2012 06:59:39 +0000

Launching the website is becoming increasingly easy these days. But managing a website, on the other hand, takes much more efforts.
Today, the leading website hostingplans in the field would even include free domain, instant setup service as well as different types of site-builder tools, etc. The webmasters could save a lot of trouble if they work with the right service providers with outstanding reputation in practice. They would no only need to worry about the design of their web pages but only focus on posting new posts onto their websites.
Doing some research about the available service providers in your local area with the help of Internet could help you avoid making some mistakes when choosing a hosting service to work with.
Are you looking to launch your web pages to promote online sales of your products or service? Are you searching for reliable Internet hosting service that allows individuals and organizations to make their own website accessible via the World Wide Web? Are you comparing the features and rates of different hosting packages in order to find tailored solutions in the field? Make good use of the online tools to save some time and energy on your search. Find the right service that could meet all your needs affordable prices.

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Kodak Develops Plans for Bankruptcy

admin — Thu, 05 Jan 2012 16:38:11 +0000

According to people familiar with Eastman Kodak, it is revealed that due to the increasingly difficult financial situation at the company, the US photographic products group has started the preparations for a possible bankruptcy filing even though the company goes on to pursue asset sales to raise much-needed cash.
Kodak has launched talks with banks over a new line of debt that the company could tap after a filing under Chapter 11 of the US bankruptcy code, which allows it to continue to trade while reorganising their finances.

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EU Shake-up for Rating Agencies

admin — Thu, 20 Oct 2011 18:53:00 +0000

Brussels would deal a blow to the business models of the big three agencies. Now, Brussels are going to propose sweeping changes to regulation of credit ratings.
Under one of the most contentious proposals, the European regulators would support to suspend credit ratings of countries undergoing bail-outs.

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Capital Raising Report Denied by French Banks

admin — Tue, 11 Oct 2011 07:52:48 +0000

The top French banks BNP Paribas and Societe Generale denied a report they could look to raise a combined fund of $14.8 billion as part of a plan to recapitalize a broader European bank.

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Investors Press RIM to Reform Board

admin — Wed, 07 Sep 2011 09:09:04 +0000

RIM–the Canadian manufacturer of BlackBerry smartphones and PlayBook tablets, are facing fresh stress from activist shareholders who are worried about the company’s recent performance and plunging share price before the company announcing its second-quarter results.
The companies is currently being pushed by activist investors to have its co-chiefs with as many as five of its independent board members changed.

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Lloyds in Sell-off Peace Offer

admin — Sun, 04 Sep 2011 14:29:34 +0000

In a last-ditch peace offering to the Independent Commission on Banking, Lloyds Banking Group is willing to sell up to a third more current accounts than it actually needs to.
According to people that is familiar to the situation, it is said the bank has set up plans to start offering current accounts through its Cheltenham & Gloucester brand along with 632 branches and a 4.6% share of UK current accounts.

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Lloyds Failed to Heed Debt Warning

admin — Sun, 28 Aug 2011 12:41:13 +0000

Facing the collapse of the luxury hotel chain–von Essen, Lloyds sufers loss of millions of pounds.
The bank was warned that the 28-hotel chain, which includes Cliveden in Berkshire and the Royal Crescent, was at risk of failing under the weight of its debts more than a year before it was forced to call in the administrators.

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