06292016Wed
Last update: Wed, 29 Jun 2016 08am

Industries & Sectors

Business & Finance - Industries & Sectors

Roche CEO 'sleeps better' as risk to drugmaker's growth recedes LONDON: Roche is increasingly confident it will continue to increase sales and profit even as cut-rate copies of the Swiss drugmaker's older cancer medicines start to grab business next year, its chief executive said on Wednesday. Big wins for three new drugs in recent months have helped to offset what Roche's Severin Schwan acknowledges as a serious threat from so-called biosimilars. "In terms of growth, I am now at the point where I sleep much better," Schwan told Reuters on a visit to London. In February the company won US Food and Drug Administration (FDA) breakthrough status for new multiple sclerosis drug Ocrevus.That was followed in May by US approval of immuno-oncology drug Tecentriq for bladder cancer, with an expected sign-off for lung cancer waiting in the wings. Then came a surprise early announcement that Roche's blood cancer drug Gazyva worked better than an older drug. Together, these developments have ...

Business & Finance - Industries & Sectors

Vitol CEO sees oil price rising to mid-$50s by year-end LONDON: The chief executive of Vitol, the world's largest oil trader, said on Wednesday he saw oil prices rising moderately by year-end due to supply outages around the globe and strong demand. "The likelihood is we are getting to oil in the mid-50s, maybe a little higher, by the year-end," Ian Taylor told the Russian Energy Forum in London. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

VW's poor governance back on the spot LONDON: How Volkswagen's bosses spent 17 days in September is the latest question to vex its shareholders. Financial watchdog Bafin is calling for a criminal investigation into whether the German carmaker's former management waited too long before admitting it had been caught cheating US emissions tests.It's particularly uncomfortable for the company's chairman, Hans Dieter Poetsch, who in any case is the wrong man for the job. VW admitted to US regulators on Sept. 3 that ...

Business & Finance - Industries & Sectors

Bayer, Dupont join ag-tech investment boom to ease grain pain CHICAGO: Dupont and Bayer AG have teamed up to invest in a new fund that will back agricultural technology startups, becoming the latest companies to pile into the multibillion-dollar industry as farm profits shrink.The two chemical and seed companies along with venture capital firm Finistere Ventures and two others have launched a $15 million accelerator fund, called Radicle, that will back early-stage agricultural-tech companies, the fund said in a statement on Wednesday. Of the $15 ...

Business & Finance - Industries & Sectors

Deutsche Telekom shareholders owning 41pc take stock dividend FRANKFURT: Investors holding 41 percent of Deutsche Telekom shares have opted for a dividend payment in shares instead of cash, the German telecoms operator said on Wednesday. As a result, 70 million new Deutsche Telekom shares will be issued and about 1.5 billion euros ($1.7 billion) will be used to pay dividends in cash, Deutsche Telekom said in as statement. Last year, investors holding about 49 percent of Deutsche Telekom took shares instead of cash ...

Business & Finance - Industries & Sectors

VW chief tells shareholders sorry for emissions scandal HANOVER: The boss of embattled German auto giant Volkswagen on Wednesday issued an apology to angry shareholders over the emissions cheating scandal that has plunged the group into an unprecedented crisis.Facing an annual general shareholders meeting for the first time since the scandal erupted in September, Matthias Mueller said: "On behalf of the Volkswagen Group and everyone who works here, I apologise to you shareholders for your trust in Volkswagen being betrayed."This misconduct goes against ...

Business & Finance - Industries & Sectors

Amazon launches upgraded Kindle e-reader NEW YORK: Amazon on Wednesday unveiled an upgraded Kindle, aiming to boost its e-reader sales with a thinner, lighter device at a low price.The new Kindle will be sold in the US market as low as $80, which is the same price as the version it replaces, but with more memory and added features.Amazon remains committed to the e-reader market despite wider use of tablet computers, which can also be used for electronic books."Unlike reflective ...