Glencore, Xstrata merger deadline postponed to May 2, awaits China approval

Written on:April 2, 2013
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Glencore-Xstrata merger postponed

Glencore’s merger with Xstrata…will it happen?

Glencore has postponed Xstrata merger deadline again to May 2 due to an ongoing investigation into the deal by China. Glencore has been awaiting for several months for China’s approval of the merger before it can complete its $35 billion acquisition of miner Xstrata. China is the biggest buyer of the materials for Glencore and hence the commodities and trading company has decided to push its merger deadline further until it gets a go-ahead from China.

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IAG likely to place order for Airbus A350 jetliners for British Airways

Written on:April 2, 2013
Airbus A350 model

IAG is likely to place an order for Airbus A350 long-range jet aircraft for its British Airways unit, according to sources familiar with the talks. The deal, if completed, would mean a significant win of EADS over rival Boeing, which has been trying to get IAG to purchase a proposed update of its 777 model, dubbed the 777X, in order to compete with the A350. The exact number of planes…

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Caerlee Mills in Innerleithen closes after failing to find buyer, 33 jobs lost

Written on:April 1, 2013
Caerlee Mills closes

Caerlee Mills in Innerleithen has shut down resulting in 33 job losses after efforts to save Scotland’s oldest textile mill failed. Caerlee Mills could not to find a buyer for itself and production at the mill has ended after 225 years. KPMG, which has been appointed as its administrators, tried to secure a buyer for the age-old business but no interest was expressed. The mill, which dates back to 1788,…

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Novartis loses historic patent case for cancer drug Glivec in India

Written on:April 1, 2013
Novartis loses Indian patent case

Novartis lost a historic case in India which saw the drug manufacturer battle for patent protection rights of its new version of a cancer drug Glivec. The landmark decision by the Indian court was hailed by healthcare activists across the globe, as the decision implies that poor patients around the world will get continued access to cheap versions of life-saving medicines. Novartis had argued that it needed patent for its drug Glivec to protect the…

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Bridgepoint acquires Oasis Healthcare for £185m from Duke Street Capital

Written on:April 1, 2013
Bridgepoint acquires dental firm Oasis Healthcare

Bridgepoint has acquired Oasis Healthcare, which is one of Britain’s biggest private dental chains, in a deal worth £185m from buyout group Duke Street Capital, marking its second takeover in six years. Under the terms of the deal, Duke Street Capital will exchange a portion of the proceeds for a minority stake in the business.

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KFC to create 1,600 jobs in UK, Ireland with 40 new restaurants

Written on:April 1, 2013
KFC jobs in UK

KFC is all set to create 1,600 jobs in the UK and Ireland in 2013 in an effort to open more than 40 restaurants and spend £40m to give 160 of its outlets a makeover. The refurbishment will be co-funded by franchisees. This year’s new outlets will boost KFC’s total number of UK and Ireland restaurants to nearly 900. KFC aims to eventually have a total of 1,200 outlets in the two…

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Best savings accounts 2013: Optimise your savings at best interest rates

Written on:March 30, 2013
Piggy bank savings

This New Year if you have resolved to make some changes to your costly lifestyle such as giving up on your alcohol or impulsive shopping spree then it means that you will be saving some money in your kitty but the next problem that arises is to find the right place to put these savings. A savings account can be the best bet for you at this juncture but it…

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Cyprus banks impose severe restrictions on depositors under bailout terms

Written on:March 29, 2013
Cyprus banks impose severe restrictions

Cyprus will not leave the European single currency and bank controls will be lifted in future, according to the country’s President Nicos Anastasiades. The president’s comments come after 10bn euro (£8.45bn) bailout deal with the EU and IMF. Nicos Anastasiades, however, refrained from specifying the time frame for the lifting. Cyprus banks opened on Thursday for the first time in nearly two weeks amid severe new rules imposed as part…

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ASOS to create jobs in Birmingham fuelled by its overseas success

Written on:March 29, 2013
Asos logo

ASOS is creating 20 senior position jobs at its new facility in Birmingham, in a move that marks its expansion outside South East. The fashion e-retailer is currently recruiting for senior software and database engineers, quality assurance analysts and development team leaders for its new Birmingham offices. ASOS expects its relocation to Birmingham to be completed by the end of April. Last year, ASOS appointed former managing director of Amazon…

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Amazon to buy Goodreads to foster Kindle recommendations

Written on:March 29, 2013
Amazon Kindle to include Goodreads recommendations

Amazon has agreed to buy book recommendations site Goodreads for an undisclosed amount. The deal, which will be finalised in a few weeks, is the most prominent acquisition of a major book-focused start-up in recent years. Amazon’s Kindle devices will soon be infused with book recommendations from the world’s largest community of reading enthusiasts after it acquires Goodreads. Apart from offering special Easter deals, Amazon goes social with Goodreads acquisition.

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