Novartis chairman floats idea of business review to appease investors
ZURICH (Reuters) – Less than two weeks into the job, Novartis AG’s new chairman is seeking to appease investors by suggesting the Swiss drugmaker will review some of its underperforming businesses in coming weeks.
China to launch fresh pharmaceutical bribery probe – Xinhua
SHANGHAI (Reuters) – China is intensifying its investigation into rampant bribery in the pharmaceutical and medical services sector with a fresh three-month probe slated to begin on Thursday, the official Xinhua news agency reported.
Signs of euro zone recovery support shares, Bunds flat
LONDON (Reuters) – Clear signs the euro zone has crawled out of an 18-month long recession supported European shares near a 10-week peak on Wednesday and saw German 10-year yields hover near their highest level in almost two months.
KPN foundation flags concerns over Slim bid
AMSTERDAM (Reuters) – An independent foundation which has the power to block a takeover of Dutch telecoms group KPN has expressed its concern over the proposed 7.2 billion euros ($9.6 billion) offer by Mexican billionaire Carlos Slim’s America Movil.
Bank of England divided on forward guidance, outlook for asset purchases
LONDON (Reuters) – Bank of England policymakers proved to be unexpectedly split on new governor Mark Carney’s long-run commitment to keep interest rates low earlier this month, minutes of their August meeting showed on Wednesday.
Euro zone performance suggests recovery in sight: EU’s Rehn
BRUSSELS (Reuters) – The latest economic data suggest the euro zone’s recovery from its longest recession in history is within reach, but it would be premature to say the crisis is over, the EU’s top economic official said on Wednesday.
South Africa’s NUMSA union plans auto-sector strike from Monday
CAPE TOWN (Reuters) – South Africa’s biggest union for the manufacturing sector, NUMSA, plans to launch a national strike in the auto industry from August 19 after wage negotiations deadlocked, a senior union official said on Wednesday.
Watsa to hold keys to a BlackBerry deal
TORONTO/NEW YORK (Reuters) – BlackBerry Ltd is expected to draw preliminary interest from technology companies, buyout firms and Canadian pension funds, but its fate may ultimately rest in the hands of its largest shareholder, Prem Watsa’s Fairfax Fina…
Baidu says agrees to buy Netdragon’s 91 Wireless for $1.85 billion
BEIJING (Reuters) – China’s Baidu Inc said on Wednesday it has agreed to buy the app store of Hong Kong-listed Netdragon Websoft Inc for $1.85 billion in cash in what would be the biggest deal in China’s IT sector.
Hyundai’s South Korea labor woes strike again
SEOUL (Reuters) – Hyundai Motor Co’s 45,000 union workers in South Korea voted to strike over unmet demands including a one-off payment of $2.45 billion from the company’s record 2012 profit and gold medals for long-serving employees.
