Finance

German court overturns Glaxo’s patent on Advair

A German court ruled a key patent on GlaxoSmithKline Plc’s lung drug Advair is not valid, dealing a blow to the top-selling lung drug in Europe’s biggest market. Glaxo said on Thursday it would consider an appeal to a higher court, adding there were still obstacles to generic companies launching cheaper copies of the inhaled […]

FinMin: Eurozone hasn’t convinced markets yet

Eurozone states must cut their deficits to win the confidence of financial markets, which remain sceptical about the currency area’s fiscal health, German Finance Minister Wolfgang Schaeuble has stated. “We haven’t really convinced the markets yet, as we have seen the euro falling further. That means we must reduce deficits in all eurozone member states,” […]

Europe April car sales fall as incentives fade

New European car sales fell for the first time in 10 months in April as scrapping schemes that had been bolstering sales began to fade, and the economic situation remained difficult, industry association ACEA said. Governments in many major European car markets launched scrapping incentive schemes to help crisis-hit carmakers in the early part of […]

Broker’s gravity force

In most people’s minds Forex currency market is no longer seen as a top secret financier’s weapon or a clandestine society of progressive investors…

Tip the boat over

Rethinking your company’s next move: What you could be doing differently, by Kenneth H Marks

Nova Scotia: an ideal location for business

For companies seeking a North American hub for their global delivery model – Nova Scotia, Canada, offers an economical and resourceful alternative to the US and is just a short flight away, as Jane Bordenave finds out

Corporate tax in Germany – an overview

With the Corporate Tax Reform 2008, a new regime for the taxation of corporations has been introduced in Germany and – due to the economic crises – has been amended already. Hemmelrath & Partner report for European CEO

Spin-offs are on the rise

Phil Dunmore, MD of progamme management consultancy PIPC argues that in their haste to obtain the decree absolute, demerging businesses are threatening their long term viability

Berlin denies Sarkozy threatened to quit euro

Germany has denied a Spanish newspaper report that French President Nicolas Sarkozy had threatened to pull his country out of the eurozone during negotiations on Greece’s aid package

3i asset values get boost as earnings recover

Private equity firm 3i Group said the value of its portfolio rose 15 percent last year, as corporate earnings recovered and its stakes were revalued, although high asset prices could stymie new deals. Net asset value rose to 321 pence at the end of March from 279 pence a year earlier, the British private equity […]

Estonia gets green light to join eurozone in 2011

Estonia has won the green light to join the eurozone in 2011 and become its 17th member in what is likely to be the crisis-hit currency area’s last enlargement for at least four years. Despite ECB doubts about how long Estonia can hold down inflation, the EU’s executive arm said the former Soviet republic of […]

French official: Politics to hurt British markets

Britain’s markets are likely to be hit because of political uncertainty, but London should not rely on EU help if it suffers a financial crisis, the head of the French financial markets watchdog has announced. Jean-Pierre Jouyet, who was European affairs minister from 2007-2008, told Europe 1 radio that Britain’s refusal to sign up to […]

ECB to buy eurozone bonds to fight crisis

The European Central Bank will buy eurozone government bonds to help support fractured markets, abandoning firm resistance to full-scale asset purchases in light of Greece’s debt crisis. The ECB said in a statement that the step, dubbed the ‘nuclear option’ by many economists, was justified because of government promises to meet strict budget targets and […]

Bulgaria aims to overhaul antiquated railways

Bulgaria plans a wide-ranging overhaul of its indebted state railways, taking a 200 million euro loan to help turn the antiquated network into a profitable operation, its transport minister told Reuters. The BDZ railway operator is unable to pay back long-term loans of 550 million levs ($370.9m) due to years of mismanagement, recession and the […]

ECB’s Liikanen says Greek package improves situation

The record 110 billion euro ($147bn) Greek rescue package has improved market conditions and there is no risk of a eurozone collapse, ECB Governing Council member Erkki Liikanen said. “The tough decisions made over the past weekend have eased (the problems). We are going in a better direction,” Liikanen told Finnish broadcaster MTV3 recently, noting […]

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