Friday, 24 May 2013 20:52
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NEW YORK: Canada's Valeant Pharmaceuticals International is nearing a deal to acquire eye care company Bausch & Lomb from private equity owner Warburg Pincus LLC for about $9 billion, a person familiar with the matter said on Friday.The person requested anonymity because the matter is not public. Valeant and Bausch & Lomb could not be immediately reached for comment. Warburg Pincus declined to comment.The Wall Street Journal, which earlier reported on the talks, said a deal might come as soon as next week.Copyright Reuters, 2013
BERLIN: Germany must shield its consumers from paying too much of the cost of its ambitious switch from nuclear power and fossil fuels towards renewable energy, the International Energy Agency said on Friday.The IEA also said that Germany, with Europe's biggest economy, should make greater use of natural gas to smoothe the transition and reduce the use of coal so it can meet its carbon reduction targets to combat climate change.Given the scale of the ...
BUCHAREST: Romania put an attempt to privatise its rail freight business back on track on Friday, in line with conditions laid down by the IMF and EU, saying that three disqualified candidates had re-qualified.Under an agreement on financial help in 2011, the International Monetary Fund and European Union required Romania to privatise the company, CFR Marfa.The state intends to sell 51.0 percent of the company at a price set initially at 180 million euros ($233 ...
WASHINGTON: New orders for US durable goods recovered in April after March's slump, led by transportation equipment orders, government data released on Friday showed.After a sharp 5.9 percent drop in March, new orders for long-lasting manufactured goods rose 3.3 percent to $222.6 billion, the Commerce Department reported.The rebound was twice as strong as analysts expected and pointed to continued growth in the manufacturing sector.Transportation equipment led the advance, increasing 8.1 percent to $67.6 billion, the ...
MOSCOW: Russia's finance ministry said on Friday it had hired the US banking major J.P. Morgan as a consultant for helping improve its image with the world's three main ratings agencies.The announcement came days after Deputy Finance Minister Sergei Storchak announced that one of the ratings giants was about to review its grade for Russia's credit.Storchak never spelled out whether this review intended to raise or lower Russia's investment outlook.But the markets are concerned that ...
MUMBAI: Shareholders of India's Jet Airways on Friday approved a deal in which Abu Dhabi-based airline Etihad will take a 24 percent stake in the private carrier, media reports said.Jet shareholders approved the proposed issue of shares on a preferential basis to Etihad, at an extraordinary general meeting held in the city, the Press Trust of India agency said.Shares will be allotted only after completion of all regulatory approvals."The commercial agreement with Etihad will help ...
PARIS: French prosecutors began questioning IMF chief Christine Lagarde for a second day Friday to decide if she should be charged over a state payout to a disgraced tycoon during her time as finance minister.Lagarde was grilled for 12 hours on Thursday over her 2007 handling of a row that resulted in 400 million euros ($515 million) being paid to controversial business figure Bernard Tapie.Copyright AFP (Agence France-Presse), 2013 More Articles...
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