Deal set to create world’s third-biggest premium spirits company
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Friday 11 March 2011
Friday 04 February 2011
Friday 04 February 2011
Outlook Just who would be chief executive of a major pharmaceuticals business? Andrew Witty, the man in the hot seat at GlaxoSmithKline, may cut a confident public figure, co-opted by the Prime Minister on to an advisory panel of business's great and good, but he also has to spend a disproportionate amount of time looking over his shoulder. For Mr Witty runs a leading company in an industry that is right in the sights of regulators worldwide.
Thursday 03 February 2011
GlaxoSmithKline stoked hopes that it might restart its share buyback programme last night after announcing the sale of its stake in Quest Diagnostics in a $1.7bn (£802m) deal.
Tuesday 01 February 2011
Monday 31 January 2011
Saturday 29 January 2011
Many column inches have been devoted to inflation and interest rates during the last couple of weeks. With inflation above target for such a long time, pressure is growing on the Bank of England to consider an interest rate rise. According to Neil Woodford, manager of Invesco Perpetual Income and High Income, two of the largest funds in the country, this would be a big mistake. He points out a high oil price of $90 a barrel has a big impact on the UK, but in the longer term it has a deflationary rather than inflationary effect. Non-discretionary inflation effectively acts as an extra tax, depressing demand. He believes an interest rate rise would be disastrous for an economy where there is little sign of wage increases and consumers are faced with utility bill rises of 25 per cent or more in the next five to seven years. I agree it is hard to see how the UK consumer would cope with higher mortgage rates on top of everything else.
Tuesday 18 January 2011
Friday 24 December 2010
A new drug to treat advanced kidney cancer has been fast-tracked for use on the NHS, a health watchdog said yesterday.
Friday 17 December 2010
Part of the Mars mafia?
Thursday 02 December 2010
Marc Bolland, the boss of Marks & Spencer, Eric Daniels, the chief executive of Lloyds Banking Group, and Andrew Witty, the top man at GlaxoSmithKline, ought to consult their lawyers. Illicitencounters.com, the rather tacky website that puts professionals seeking a bit of extramarital fun in touch with each other, made its most insulting announcement yet yesterday. It has apparently offered 60 bosses of FTSE 100 companies – in particular, it namechecks Bolland, Daniels and Witty – free membership of the site, "encouraging them to cheat online". What on earth is it suggesting about these respectable gentlemen?
Tuesday 30 November 2010
GlaxoSmithKline plans to invest more than £500m in manufacturing projects in the UK after the Chancellor, George Osborne, backed the previous government's plans for a lower 10 per cent corporate tax rate on profits from newly commercialised patents.
Wednesday 27 October 2010
In a rare public humiliation for a British company in the United States, GlaxoSmithKline last night formally agreed to pay $750m (£473m) to settle criminal and civil complaints stemming from a whistleblower's revelations about a shockingly degraded factory in Puerto Rico.
Tuesday 26 October 2010
Outlook There was something of a love-in at the Confederation of British Industry (CBI) conference, with a bevy of ministers down to say how much they loved business and some sweeties to share in the form of big speeches and big announcements. No wonder. Business leaders are being courted because they are desperately needed to help to fill the gap created by George Osborne's 500,000 job cuts.
Monday 18 October 2010
Chancellor George Osborne's deficit reduction strategy today won backing from the private sector with a letter of support signed by 35 business leaders.
It looks very much as though 2015 will be a good year for the world economy, after all – and, if it is, that will be thanks to the fall in the oil price. It won't be good for everyone and we have already seen the pressure it puts on the Russian leadership – though, before you conclude that sometimes there is natural justice in the world, remember that the people who are hurt are not leaders such as Vladimir Putin. Other oil- and gas-exporting countries are damaged, too, and I think we will see further fallout in unpredictable ways. But the net impact is strongly positive, more so than most commentators at present acknowledge. The winners far outnumber the losers.
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