01192017Thu
Last update: Thu, 19 Jan 2017 09pm

Industries & Sectors

Business & Finance - Industries & Sectors

Sanofi plans to reshape via $20bn asset swap with Boehringer PARIS/LONDON: Sanofi and Boehringer Ingelheim are in exclusive talks over a $20 billion swap of the French pharmaceuticals company's animal health business for the family-owned German group's consumer health operation. The deal would consist of an exchange of Sanofi's Merial animal health arm, with an enterprise value of 11.4 billion euros ($12.6 billion), with Boehringer's consumer health division, worth 6.7 billion.Boehringer would also pay 4.7 billion euros in cash to Sanofi, the companies said on Tuesday.The plan signals a radical reshaping of Sanofi under new boss Olivier Brandicourt, who took over in April, and has said he sees "limited synergies" between animal health and the rest of the business.The deal would vault the French drugmaker into number one spot in the fragmented consumer healthcare (CHC) marketplace, with proforma 2015 sales of approximately 5.1 billion euros and a global market share of around 4.6 percent.Boehringer would become the world's second-largest animal ...

Business & Finance - Industries & Sectors

Swatch watches; Building a Patent Advantage Ever since other companies started to develop smart watches, Swatch Group has filed 173 patents, especially after rise in smart watch trend from 2012. However this patent building spree is completely going over the head of competitors like Apple.Even though Apple watches are also famous, they do not reach the level of Swatch, especially after the latter started acquiring patent after patent. Through this patent buying, it can be seen that swatch CEO Nick Hayek ...

Business & Finance - Industries & Sectors

European car sales race ahead, but VW stuck in slow gear PARIS: European car sales soared by 13.7 percent in November, but scandal-plagued Volkswagen trailed the pack with only a 4.1-percent increase, data from a trade industry body showed Tuesday.While VW still remained by far the top carmaker in Europe by sales, it had the smallest monthly percentage gain of all carmakers, the European Automobile Manufacturers Association data showed.VW has been embroiled in scandal since September, when it admitted it had installed emission-cheating software into 11 ...

Business & Finance - Industries & Sectors

British Airways boss threatens to shift business abroad LONDON: The boss of British Airways' parent group on Monday threatened to develop the business abroad rather than in Britain after the government further delayed a decision on expanding airport capacity.Prime Minister David Cameron had promised a decision on where to expand airport capacity in southeast England by the end of the year, but last week said no decision would be taken until at least the middle of next year.The government said it needed to ...

Business & Finance - Industries & Sectors

Bayer sued in Germany over contraceptive pill after health scares WILLSTÄTT: "If I'd known, I'd never have taken this pill," says Felicitas Rohrer, who is suing German pharmaceuticals giant Bayer, claiming its oral contraceptive Yasminelle caused her to suffer a pulmonary embolism.The accusations against Bayer's contraceptive pills Yasminelle and Yaz, based on drospirenone, are not new and the company has already paid out nearly two billion dollars (1.8 billion euros) to around 10,000 women in out-of-court settlements in the United States to avoid long and ...

Business & Finance - Industries & Sectors

Chinese NGO sues Volkswagen over emissions fraud BEIJING: A Chinese court has agreed to hear a case brought by a local environmental organisation against Volkswagen over its emissions-cheating scandal, the campaign group said Tuesday.The German car giant -- the world's number two automaker -- has been engulfed in scandal since it admitted in September that it had installed software in 11 million diesel engine vehicles worldwide to cheat pollution tests.The China Biodiversity Conservation and Green Development Foundation will take VW to court ...

Business & Finance - Industries & Sectors

Boeing increases share buyback, raises dividend 20pc NEW YORK: Boeing unveiled Monday a $14 billion share buyback program and boosted its quarterly dividend as the US aerospace giant shared its bounty with investors from strong demand for its jetliners.The Chicago-based company said it would pay investors a $1.09 dividend for the quarter under way, a 20 percent increase from a year ago. It noted that it had raised the dividend for five straight years.In addition, Boeing will embark on a new $14 ...