(Reuters) - Seroquel is AstraZeneca's second-biggest drug, with global sales of $3.4 billion last year.
Seroquel XR is not ground-breaking, but its approval will come as a welcome boost to AstraZeneca after the recent high-profile failures of two new drugs for stroke and heart disease, which followed earlier setbacks.
Read more at Reuters.com Government Filings News
Thursday, May 17, 2007
Australia's S&P/ASX 200 Index Drops From Record, Led by BHP, Rio onMetals
(Bloomberg) -- Australia's key stock index dropped from a record high, led by BHP Billiton Ltd. and Rio Tinto Group, after prices of metals including copper and zinc fell.
``Metals were markedly lower and their influence on the index is evident in BHP and Rio today,'' said Michael Birch, who helps manage $133 million at Wallace Funds Management in Sydney. ``There's a bit of steam coming out the market after a good run this week.''
Read more at Bloomberg Stocks News
``Metals were markedly lower and their influence on the index is evident in BHP and Rio today,'' said Michael Birch, who helps manage $133 million at Wallace Funds Management in Sydney. ``There's a bit of steam coming out the market after a good run this week.''
Read more at Bloomberg Stocks News
Philippines May Increase Tax Rate for Some New Mines; Reyes Prepares Order
(Bloomberg) -- The Philippines, which may have $1 trillion in mineral wealth, might unify the overall tax rate for some new mine projects by doubling the sum paid by less- profitable ventures, according to a draft order.
The companies will pay 50 percent of revenue after expenses irrespective of their so-called rate of return, according to a copy of a draft order obtained by Bloomberg. Previously, those with a rate of return less than 20 percent paid 25 percent of revenue after expenses, while those above 20 percent paid 50 percent of revenue. The order would remove the lower rate.
Read more at Bloomberg Emerging Markets News
The companies will pay 50 percent of revenue after expenses irrespective of their so-called rate of return, according to a copy of a draft order obtained by Bloomberg. Previously, those with a rate of return less than 20 percent paid 25 percent of revenue after expenses, while those above 20 percent paid 50 percent of revenue. The order would remove the lower rate.
Read more at Bloomberg Emerging Markets News
Congo sees Rautenbach as root of CAMEC's problems
(Reuters) - Zimbabwean businessman Billy Rautenbach's stake in Central African Mining & Exploration (CAMEC) is at the root of a row between the London-listed miner and Congo's government, the deputy mines minister said on Wednesday.
Victor Kasongo said Congolese authorities had been contacted by South Africa requesting assistance in Rautenbach's arrest on charges of "fraud, corruption, and theft," at a time when the central African country is trying to shake up its mining sector.
Read more at Reuters Africa
Victor Kasongo said Congolese authorities had been contacted by South Africa requesting assistance in Rautenbach's arrest on charges of "fraud, corruption, and theft," at a time when the central African country is trying to shake up its mining sector.
Read more at Reuters Africa
US stock indexes advance on expectations about deals
(Reuters) - U.S. stocks jumped on Wednesday as major investors disclosed stakes in Citigroup, several railroads and health-care companies, raising expectations that further takeovers could be coming.
Shares of Citigroup climbed 4 percent, and were the top driver of the Dow in its 23rd record close this year, after a hedge fund run by Edward Lampert disclosed it owned 15.2 million shares in the largest U.S. bank.
Read more at Reuters Africa
Shares of Citigroup climbed 4 percent, and were the top driver of the Dow in its 23rd record close this year, after a hedge fund run by Edward Lampert disclosed it owned 15.2 million shares in the largest U.S. bank.
Read more at Reuters Africa
Investec profit up 20 pct, helped by UK, Australia
(Reuters) - South African investment banking and asset management group Investec Plc increased full-year operating profit by 20 percent, helped by a solid performance from its UK and Australian operations.
Operating profit before goodwill, non-operating items and taxation rose to 466.6 million pounds in the year to the end of March from 388.8 million in 2006, the group said on Thursday.
Read more at Reuters Africa
Operating profit before goodwill, non-operating items and taxation rose to 466.6 million pounds in the year to the end of March from 388.8 million in 2006, the group said on Thursday.
Read more at Reuters Africa
Trade powers make new push for Doha breakthrough
(Reuters) - Trade powers began a new push on Thursday to find a breakthrough in global trade talks that risk running out of time.
Top negotiators of the United States, the European Union, Brazil and India -- four core members of the World Trade Organisation -- gathered at a secluded chateau in Brussels for the first of a flurry of meetings planned before August.
Read more at Reuters Africa
Top negotiators of the United States, the European Union, Brazil and India -- four core members of the World Trade Organisation -- gathered at a secluded chateau in Brussels for the first of a flurry of meetings planned before August.
Read more at Reuters Africa
US stocks drop after jobless claims data
(Reuters) - U.S. stocks fell on Thursday as signs of strength in the U.S. job market diminished chances for an interest-rate cut, offsetting takeover news and plans for a $3 billion share repurchase by Sun Microsystems Inc.
The Labor Department said weekly first-time claims for unemployment insurance were lower than expected. Investors had been eager for signs of economic weakness, pointing to a possible cut in rates by the Federal Reserve. A rate cut could lead to more business investment and improved corporate profits.
Read more at Reuters Africa
The Labor Department said weekly first-time claims for unemployment insurance were lower than expected. Investors had been eager for signs of economic weakness, pointing to a possible cut in rates by the Federal Reserve. A rate cut could lead to more business investment and improved corporate profits.
Read more at Reuters Africa
S.Africa bourse falls on metal prices, Old Mutual up
(Reuters) - South African stocks fell on Thursday as miners BHP Billiton and Anglo American tumbled due to weaker precious and base metal prices, but Old Mutual rose on a positive re-rating.
"The resource shares fell on the decline in the dollar prices of commodities such as copper and gold," Ferdi Heyneke, a portfolio manager at Afrifocus Securities said.
Read more at Reuters Africa
"The resource shares fell on the decline in the dollar prices of commodities such as copper and gold," Ferdi Heyneke, a portfolio manager at Afrifocus Securities said.
Read more at Reuters Africa
Germany Seeks Hedge-Fund Support at Group of Eight; Paulson Skips Meeting
(Bloomberg) -- German Finance Minister Peer Steinbrueck will try to win support for closer hedge-fund scrutiny at this weekend's meeting of colleagues from the Group of Eight main industrial nations in the absence of some of the club's heaviest hitters.
Steinbrueck, who chairs the gathering near Potsdam, Germany, today and tomorrow, wants his colleagues to back a code of conduct for hedge funds as rapid growth in the $2 trillion industry stokes concern they pose a potential threat to financial stability. The U.S. and the U.K. disagree, arguing that markets are better placed than governments to keep an eye on the pools of capital.
Read more at Bloomberg Bonds News
Steinbrueck, who chairs the gathering near Potsdam, Germany, today and tomorrow, wants his colleagues to back a code of conduct for hedge funds as rapid growth in the $2 trillion industry stokes concern they pose a potential threat to financial stability. The U.S. and the U.K. disagree, arguing that markets are better placed than governments to keep an eye on the pools of capital.
Read more at Bloomberg Bonds News
Chile's Falabella to Buy D&S for $3.7 Billion in Stock, Expand Globally
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke issued a double-barreled warning on the U.S. economy, saying the housing market will continue to struggle and the Fed sees ``significant risks'' in the leveraged-buyout boom.
Bernanke, speaking at a conference in Chicago today, said curbs on subprime lending ``are expected to be a source of some restraint on home purchases and residential investment in coming quarters.'' And he said the Fed is ``beginning to look at'' what he called ``the risks that are associated with working with private-equity firms.''
Read more at Bloomberg Currencies News
Bernanke, speaking at a conference in Chicago today, said curbs on subprime lending ``are expected to be a source of some restraint on home purchases and residential investment in coming quarters.'' And he said the Fed is ``beginning to look at'' what he called ``the risks that are associated with working with private-equity firms.''
Read more at Bloomberg Currencies News
Abalone Poachers in New Zealand Threaten Survival of China's Banquet Treat
(Bloomberg) -- Scott Bernie, a New Zealand fisheries officer, kicks a pile of abalone shells at Oteranga Bay, evidence poachers have visited the site west of Wellington. Barred from carrying a weapon, he wears a knife-proof vest for protection.
``Over there, a possum hunter came across four blokes poaching abalone,'' says Bernie, 28. ``They had five huge sacks full and pulled a knife on him. Luckily he had his gun.''
Read more at Bloomberg Exclusive News
``Over there, a possum hunter came across four blokes poaching abalone,'' says Bernie, 28. ``They had five huge sacks full and pulled a knife on him. Luckily he had his gun.''
Read more at Bloomberg Exclusive News
Palm Oil Futures Gain in Malaysia as Soybean Oil's Rise May Bolster Demand
(Bloomberg) -- Palm oil futures in Malaysia, the world's largest grower last year, rose as recent gains in the price of soybean oil, a rival product, may boost demand for the tropical commodity.
Palm oil and soybean oil, which can be substituted for one another, usually move in the same direction. Soybean oil in Chicago has gained for eight sessions, adding 6.5 percent, as soybeans rose to a five-week high. Vegetable oils, used for cooking and soaps, are also used to make alternative fuels.
Read more at Bloomberg Commodities News
Palm oil and soybean oil, which can be substituted for one another, usually move in the same direction. Soybean oil in Chicago has gained for eight sessions, adding 6.5 percent, as soybeans rose to a five-week high. Vegetable oils, used for cooking and soaps, are also used to make alternative fuels.
Read more at Bloomberg Commodities News
Idemitsu Gets Approval to Restart Part of Fire-Damaged Aichi Refinery Unit
(Bloomberg) -- Idemitsu Kosan Co., Japan's second- largest refiner, got the approval of the fire department approval to restart part of a refinery unit that was damaged by a fire on May 11.
Idemitsu is allowed to resume operations at five of the six filters on a fuel oil desulphurization unit at the company's Aichi refinery, Toru Ohashi, an official at Chita City Fire Department, said by telephone today.
Read more at Bloomberg Energy News
Idemitsu is allowed to resume operations at five of the six filters on a fuel oil desulphurization unit at the company's Aichi refinery, Toru Ohashi, an official at Chita City Fire Department, said by telephone today.
Read more at Bloomberg Energy News
Asian Stocks Fall, Set for First Losing Week in Three; Nippon Steel Drops
(Bloomberg) -- Asian stocks fell to a two-week low after tumbling metals prices pushed the region's benchmark index toward its first weekly decline in three.
Sumitomo Metal Mining Co., Japan's largest nickel miner, dropped the most in almost seven weeks, while BHP Billiton Ltd., the world's biggest mining company, slid 2.4 percent.
Read more at Bloomberg Stocks News
Sumitomo Metal Mining Co., Japan's largest nickel miner, dropped the most in almost seven weeks, while BHP Billiton Ltd., the world's biggest mining company, slid 2.4 percent.
Read more at Bloomberg Stocks News
Canadian Stocks Notch 7th Record This Month as Energy Producers Advance
(Bloomberg) -- Canadian stocks rose, lifting the main stock benchmark to its seventh record this month, as energy companies including EnCana Corp. climbed along with oil prices.
BCE Inc. gained on a report that there may be another bidder for Canada's biggest phone company. The takeover speculation overshadowed a decline in raw-materials shares as lower gold and copper prices sent companies such as Barrick Gold Corp. lower.
Read more at Bloomberg Stocks News
BCE Inc. gained on a report that there may be another bidder for Canada's biggest phone company. The takeover speculation overshadowed a decline in raw-materials shares as lower gold and copper prices sent companies such as Barrick Gold Corp. lower.
Read more at Bloomberg Stocks News
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