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Japan's SoftBank in talks to buy DreamWorks TOKYO/NEW YORK: Japan's SoftBank Corp is in talks to acquire DreamWorks Animation SKG , the Hollywood studio behind the "Shrek" and "Madagascar" movie hits, a person with knowledge of the situation said.An acquisition of DreamWorks by SoftBank would make it part of a cash-rich Japanese communications and media company that, under founder and chief executive Masayoshi Son, has shown a willingness to take big bets on combining disparate businesses. The talks were first reported by the Hollywood Reporter, which quoted an unidentified source as saying a buyout would value DreamWorks at $3.4 billion.The entertainment trade publication said SoftBank had offered $32 per share for DreamWorks, a substantial premium to the stock's Friday closing price of $22.36. Buying DreamWorks, which is headed by veteran Hollywood producer and film executive Jeffrey Katzenberg, would make SoftBank the second Japanese technology company to buy a Hollywood studio, following Sony Corp, which bought Columbia Pictures ...

No benefit from continued use of AstraZeneca's Iressa drug MADRID: Continuing to give AstraZeneca's drug Iressa plus chemotherapy to lung cancer patents whose disease has worsened after previously taking the medicine on its own does not provide any benefit. Some doctors had hoped that extending the use of Iressa in combination with chemotherapy would help to keep cancers at bay, even when tumour cells had started to develop resistance to the drug. But a clinical study presented at the European Society for Medical Oncology ...

Roche breast cancer drug shows ‘unprecedented’ survival benefit MADRID: A new breast cancer drug from Roche has shown "unprecedented" survival benefits in a clinical trial, boosting prospects for its widespread use in women with an aggressive form of the disease. Patients with a type of breast cancer known as HER-2 positive, which makes up about a quarter of all breast cancers, who were given Perjeta on top of older medicine Herceptin and chemotherapy lived 15.7 months longer than those on Herceptin and chemotherapy ...

Air France faces more strikes after talks with pilots reach deadlock PARIS: Talks between Air France and its pilots reached an impasse on Saturday after a union request for a mediator was rejected by both the airline's management and the French government.Air France has been locked in negotiations with pilots over plans to create a low-cost operation, resulting in a 13-day strike which has cost it up to 20 million euros ($25 million) a day.The company said on Saturday it would only be able to operate ...

Commerzbank said to be investigated over money laundering charges: WSJ FRANKFURT: Germany's second-largest lender Commerzbank AG is being investigated by the Manhattan U.S. attorney for alleged violations of money-laundering laws, the Wall Street Journal reported.After failing to land high-profile criminal cases stemming from the 2008-09 financial crisis, U.S. authorities have focused on other types of criminal activity within the financial industry, including money laundering, tax evasion and sanctions violations.Sources told Reuters earlier this month that Commerzbank was nearing a settlement with U.S. authorities over its ...

BNP Paribas chairman resigns: company PARIS: The chairman of BNP Paribas has resigned, some three months after the French bank was hit by a record $8.9 billion fine for violating US sanctions, the bank said.Baudoin Prot, 63, who has headed the bank since 2011, was stepping down as of December 1 "for personal reasons," the bank said in a statement following a meeting of the board late on Friday.Prot will be replaced by Jean Lemierre, 64, one of his close ...

Rosneft says discovers offshore Arctic oil jointly with Exxon MOSCOW: Russia's top crude oil producer Rosneft said on Saturday it had made an oil discovery jointly with ExxonMobil at an offshore Arctic field, which has been at the centre of controversy due to Western sanction against Moscow.However, further progress at the site is likely to be problematic as international oil majors have to wind down work in Russia due to Western sanctions following the Ukraine crisis.Rosneft and its head Igor Sechin were among the ...


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Foreign Debt $61.805bn
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WeeklySeptember 25, 2014
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