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AstraZeneca to cut 2,150 jobs in Tatton, to close Alderley Park R&D centre
AstraZeneca has announced 2,150 job cuts with most of them concentrated in Tatton which is Chancellor George Osborne’s constituency, just five months after he helped the drugs group secure a £5m government grant to develop its Alderley Park research and development centre. The UK’s second biggest pharmaceutical company announced that it will be closing down the Alderley Park R&D facility in Tatton, causing 550 jobs losses there and 150 elsewhere…
HSBC plans around 5,000 job cuts as bank opts for outsourcing
HSBC is planning to cut around 5,000 jobs in a fresh round of sacking as it outlines its next stage of turnaround strategy aimed at saving $1bn (£660m) in 2013. Sources close to the bank fear that the job cuts tally may even scale up to 10,000, if HSBC maintained the recent rate of staff cuts to cost savings as the bank warms up to outsourcing approach. Over the past…
Legal & General acquires 46.5% stake in Cala Homes for £210m
Insurer Legal & General (L&G) has partnered with European private equity group Patron Capital to buy Lloyds-owned Cala Homes in a deal worth £210m. The investment groups plan to acquire 46.5% equity stakes in Cala from Lloyds Banking Group, with Cala’s management lapping up the remaining 7% share. Lloyds took control of Cala following a debt-for-equity swap at the end of 2009. The acquisition will be financed by £140m of…
Airbus beats Boeing to win £13.2bn Lion Air order for 200 jets
Airbus has won a historic order worth $20bn (£13.2bn) at list prices from Indonesia’s Lion Air for more than 200 A320 medium-haul jets, beating rival Boeing’s hold on one of the world’s fastest-growing airlines. Uptil now, Lion Air has been equipped with almost exclusively by US rival Boeing. This is the first time that it has preferred Airbus to Boeing. Last year, Lion Air ordered 201 planes from Boeing worth…
Blockbuster revival on the cards as Gordon Brothers mulls takeover
Collapsed Blockbuster UK chain might see a revival as retail restructuring specialist Gordon Brothers Europe is planning to takeover the movie rental retailer which went into administration a few weeks ago. Gordon Brothers are in active talks with Deloitte, which was appointed as administrator to Blockbuster UK in January. Sources claim that Gordon Brothers has submitted a bid for Blockbuster focused on retaining around 275 of the 528 Blockbuster stores…
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