• Soccer-Moyes sacking showed a lack of decency, says Neville,

    Reuters - 23 hours ago

    Manchester United's players lost confidence and belief under David Moyes and played poor football but the manager's sacking on Tuesday showed a "lack of decency", according to former United defender Gary Neville. The idea of giving people three and four and six year contracts and then getting rid of them after 10 months is something that is foreign to me," Neville told Sky Sports. I'm sure David Moyes himself hasn't enjoyed watching it." Neville made over 400 appearances for United in a trophy-laden career under previous boss Alex Ferguson and said the managerial landscape has changed completely from his early days in the game. More »Soccer-Moyes sacking showed a lack of decency, says Neville,

  • Russian Recession Looms: Economy Tanks as Ukraine Crisis Shows No Sign of Ending

    IB Times - Tue, Apr 22, 2014

    Russia is facing the prospect of negative growth this year as the prolonged geopolitical standoff with the West over Ukraine hits the emerging economy hard. With the European Union and the United States considering deeper sanctions against Moscow and the country suffering heavy capital outflow in the first quarter, Vladimir Putin is facing the most severe political and economic crises of his time in the Kremlin. Russia's finance minister Anton Siluanov warned this week that the country's economy could flatline this year. His announcement was followed by more gloomy news from the country's economy minister Alexei Ulyukaev, who said that the economy had contracted by around 0.5% in the first quarter of 2014 compared to the previous quarter. More »Russian Recession Looms: Economy Tanks as Ukraine Crisis Shows No Sign of Ending

  • Van Gaal installed as favourite to replace Moyes

    Reuters - Tue, Apr 22, 2014

    (Reuters) - Netherlands head coach Louis Van Gaal was quickly installed as the bookmakers' favourite to succeed David Moyes as Manchester United manager after the English Premier League club announced the end of the Scot's ill-fated spell in charge on Tuesday. Van Gaal, who has coached Barcelona, Ajax Amsterdam and Bayern Munich in a distinguished career, has already said he will step down from the national team after the World Cup in July and had been linked with a move to Tottenham Hotspur. Borrusia Dortmund coach Jurgen Klopp was the widespread second favourite to replace Moyes, who signed a six-year contract when he took over from Alex Ferguson in the close season. More »Van Gaal installed as favourite to replace Moyes

  • World stocks mixed on China worries, US earnings

    Associated Press - Tue, Apr 22, 2014

    HONG KONG (AP) — World stocks fluctuated Tuesday as a Wall Street rally powered by positive earnings reports offset investor cautiousness before a report on Chinese manufacturing and possible sanctions against Russia over Ukraine. More »World stocks mixed on China worries, US earnings

  • Eli Lilly to buy Novartis' animal health unit for $5.4 billion

    Reuters - Tue, Apr 22, 2014

    (Reuters) - Eli Lilly and Co said on Tuesday it will buy Swiss drugmaker Novartis AG's animal health business for $5.4 billion in cash to strengthen and diversify its Elanco unit. Lilly said it plans to fund the deal with about $3.4 billion of cash on hand and $2 billion of loans. "Animal health continues to represent an attractive growth opportunity for Lilly. We intend to keep Elanco and to take advantage of the substantial synergies between our animal health and human health businesses," Lilly's Chief Executive John Lechleiter said. More »Eli Lilly to buy Novartis' animal health unit for $5.4 billion

  • Novartis, GSK reveal huge deals in global healthcare markets

    AFP - Tue, Apr 22, 2014

    British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday More »Novartis, GSK reveal huge deals in global healthcare markets

  • Wage cuts make Spain's recovery a long, painful path

    Reuters - Tue, Apr 22, 2014

    But her employment does her, and Spain, few favours in the long term. New laws giving companies more flexibility to cut salaries and change contract terms for employees have helped Spain pull itself back from the brink of default two years ago, restarting export growth by letting companies push down prices. But the shift in labour rules, promoted by the European Union as part of economic changes asked of the euro area's more indebted nations, has also transformed Spanish society, with long term consequences that could undermine the recovery. According to the International Monetary Fund, wage inequality rose faster in Spain than in any other EU country from 2007 to 2012, a divide that has escalated social tensions in a country that had only recently healed the wounds of a 36-year dictatorship ended in 1975. More »Wage cuts make Spain's recovery a long, painful path

  • Biden offers Kiev U.S. help, condemns corruption

    Reuters - Tue, Apr 22, 2014

    U.S. Vice President Joe Biden told Ukrainian presidential candidates and members of parliament on Tuesday that Washington was ready to help Ukraine's economy but warned them they must fight the "cancer" of endemic corruption. In Kiev to offer a symbolic show of U.S. support, Biden said the presidential election on May 25 would be an opportunity to lay the groundwork for a more unified and prosperous country. Biden's visit to Ukraine follows the signing in Geneva last Thursday of a four-way peace deal to de-escalate tension in eastern Ukraine where pro-Russian separatists have seized towns and key facilities. The Kiev leadership says the rebellions in the east are inspired and directed by Russia, one of the signatories of the Geneva accord, which annexed Crimea in March. More »Biden offers Kiev U.S. help, condemns corruption

  • Submarine drone search for Malaysian plane to continue

    Reuters - Tue, Apr 22, 2014

    By Byron Kaye PERTH, Australia (Reuters) - A U.S. submarine drone will keep scouring the Indian Ocean floor for traces of a missing Malaysian jetliner after it finishes its current targeted search, Australian authorities told Reuters as a tropical cyclone suspended the air search. Authorities are under growing pressure to decide their next course of action as the Bluefin-21 drone nears the end of its first sweep of remote seabed which authorities believe is the most likely resting place of Malaysian Airlines flight MH370 which vanished on March 8 with 239 people on board. The Bluefin-21 is expected to finish its targeted search of a 10 square kms (6.2 square mile) stretch of ocean floor, where a signal suspected to be from the plane's black box was detected, come Wednesday. "Bluefin-21 has now completed more than 80 percent of the focused underwater search area and further missions are planned," the Perth based Joint Agency Coordination Centre told Reuters in an email. More »Submarine drone search for Malaysian plane to continue

  • Novartis, GSK, Lilly in multibillion-dollar deals

    Associated Press - Tue, Apr 22, 2014

    GENEVA (AP) — Swiss pharmaceutical giant Novartis AG announced a series of multibillion-dollar deals Tuesday with other major pharmaceutical companies that it said would reduce sales but boost profitability, while affecting some 15,000 of its employees globally. More »Novartis, GSK, Lilly in multibillion-dollar deals

  • Scottish Independence Campaign Hit by Gordon Brown's 'UK Protected Pension' Claim

    IB Times - Tue, Apr 22, 2014

    The campaign for Scottish independence will take a hit later today when Britain's former Prime Minister Gordon Brown states that Scottish pensioners are "better protected" as part of the UK. According to released excerpts from his speech for the Better Together rally, the Labour party minister will say that Scotland needs to stay part of the UK, in order to share "risks and resources" when it comes to their savings. "In fact the real debate is between two Scottish visions of Scotland's future," Brown will say at Glasgow University on 22 April. "The nationalist one based on the breaking of all political links with the UK, and our vision based on a strong Scottish Parliament backed up by a system of pooling and sharing risks and resources across the UK. More »Scottish Independence Campaign Hit by Gordon Brown's 'UK Protected Pension' Claim

  • UK Economic Recovery Paves Way for £7bn in Tax Cuts

    IB Times - Tue, Apr 22, 2014

    The Centre for Economics and Business Research has revealed that the UK economic recovery could pave the way for £7bn in tax cuts. According to CEBR economists, the Chancellor could slash taxes in the lead up to the 2015 general election as the improvement in the economy has been better than expected. "The main constraint on the Chancellor introducing crowd-pleasing measures is the likely reaction of the financial markets," added the CEBR. In 2013, the UK outperformed most European economies, and employment recently rose to its highest level in five years. More »UK Economic Recovery Paves Way for £7bn in Tax Cuts

  • Scottish Independence: CBI's Official 'No Campaign' Pledge Leads to University Exodus

    IB Times - Tue, Apr 22, 2014

    The Confederation of British Industry's registration to campaign against Scottish independence has led to three of the country's oldest and most prestigious universities to cancel their memberships. Aberdeen, Edinburgh, and Glasgow said in a statement that the CBI's official stance to rally against an independent Scotland forces them to leave because they want to remain neutral when Scots vote in the referendum on 18 September. "We are all in uncharted waters and recognise and respect that difficult decisions may need to be taken," said CBI Director General John Cridland in a statement, in response to the exit. "We have a clearly stated position that Scotland and the rest of the UK are stronger together on economic grounds as part of the union and this reflects the views of the vast majority of our members." More »Scottish Independence: CBI's Official 'No Campaign' Pledge Leads to University Exodus

  • German tax income jumps in 1st quarter

    Associated Press - Tue, Apr 22, 2014

    BERLIN (AP) — Germany's Finance Ministry says the government's tax income rose sharply in March and saw a healthy overall first-quarter rise as Europe's biggest economy picked up momentum. More »German tax income jumps in 1st quarter

  • Philips' first quarter sales, earnings slip

    Tue, Apr 22, 2014

    AMSTERDAM (AP) — Royal Philips NV says its first-quarter profits declined as growth slowed in several divisions and consumers spent less on light bulbs. More »Philips' first quarter sales, earnings slip

  • Pork giant WH Group slashes IPO, delays pricing on lack of demand - IFR

    Reuters - Tue, Apr 22, 2014

    China's WH Group Ltd, the world's biggest pork company, <0288.HK> is slashing its proposed Hong Kong initial public offering and delaying pricing of the deal to next week due to lack of demand, IFR reported on Tuesday, citing sources close to the company. The company will now sell fewer primary shares than initially planned, and no stock from existing shareholders, said IFR, a Thomson Reuters publication. WH Group declined to comment on the report. WH Group and shareholders including Goldman Sachs , Singapore state investor Temasek Holdings and CDH Investments offered a combined 3.65 billion shares, valuing the total deal at up to HK$41.06 billion (3.1 billion pounds). More »Pork giant WH Group slashes IPO, delays pricing on lack of demand - IFR

  • Colt Group to trim carrier voice division, take charge

    Reuters - Tue, Apr 22, 2014

    (Reuters) - Telecoms provider Colt Group SA said it would withdraw about 85 percent of its carrier voice contracts over the next few months and expected a 175 million euros (143 million pounds) fall in revenue in the unit. Colt's voice business has been under pressure over the past year due to pricing cuts by EU regulators. More »Colt Group to trim carrier voice division, take charge

  • GSK, Novartis unveil major healthcare revamp

    AFP - Tue, Apr 22, 2014

    British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday More »GSK, Novartis unveil major healthcare revamp

  • U.S. business lobby says market access concerns in China growing

    Reuters - Tue, Apr 22, 2014

    By Michael Martina BEIJING (Reuters) - Multinational firms are planning to invest less in China because of market access barriers and slowing growth in the world's second-largest economy, a U.S. business lobby said on Tuesday. China's economy expanded 7.4 percent year-on-year in the January-March quarter, its slowest pace in 18 months. Concerns over market access and slower growth are greater this year than they were in the past, the American Chamber of Commerce in China said in its annual report on the business climate in China. "We refer to market access barriers as one of the primary reasons for lowered investment," Chamber Chairman Greg Gilligan told reporters at a briefing on the report. More »U.S. business lobby says market access concerns in China growing

  • Moyes To Be Sacked After Owners Lose Patience

    Sky News - Tue, Apr 22, 2014

    David Moyes is expected to be sacked as Manchester United boss later today after a disastrous first season in charge. Former United star and Sky Sports pundit Gary Neville urged to club to make a statement clarifying the situation. Moyes has endured a difficult period in charge after being hand-picked by Sir Alex Ferguson who retired at the end of last season's title-winning campaign. "The choreography is already going on behind the scenes toward the eventual removal of David Moyes," Sky Sport Correspondent Paul Kelso said. More »Moyes To Be Sacked After Owners Lose Patience

  • GSK says to sell oncology arm to Novartis for $16 bn

    AFP - Tue, Apr 22, 2014

    British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday More »GSK says to sell oncology arm to Novartis for $16 bn

  • Corruption probe hits China Resources' HK units

    Reuters - Tue, Apr 22, 2014

    HONG KONG (Reuters) - Shares of all five Hong Kong-listed companies of China Resources Holdings Co Ltd fell on Tuesday, wiping over $3 billion (1 billion pounds) off its market capitalisation after China's top anti-corruption body launched a probe into its parent group chairman. The selloff hit stocks of subsidiaries spanning energy, infrastructure, property and consumer businesses, led by China Resources Power Co Ltd which fell more than 11 percent in its worst day since July 17 last year. ... More »Corruption probe hits China Resources' HK units

  • Eli Lilly to buy part of Novartis for $5.4 bn

    AFP - Tue, Apr 22, 2014

    US pharmaceutical giant Eli Lilly has reached an agreement to acquire the animal health division of Novartis of Switzerland for $5.4 billion (3.9 billion euros) More »Eli Lilly to buy part of Novartis for $5.4 bn

  • Korean ferry mate says couldn't reach lifeboat due to tilt

    Reuters - Tue, Apr 22, 2014

    A crew member of a South Korean ferry than sank last Wednesday said the crew tried to launch lifeboats, but could not get near because of the tilt of the ship. The ferry sank on a routine trip south from the port of Incheon to the holiday island of Jeju. More »Korean ferry mate says couldn't reach lifeboat due to tilt

  • Japan overhauls its public pension fund, the world's biggest

    Reuters - Tue, Apr 22, 2014

    By Chikafumi Hodo and Takaya Yamaguchi TOKYO (Reuters) - Japan overhauled the world's biggest public pension fund on Tuesday, appointing new committee members, in a push toward Prime Minister Shinzo Abe's goal of a more aggressive investment strategy. The government announced a reshuffle of the Investment Committee of the $1.26 trillion (750.22 billion pounds) Government Pension Investment Fund (GPIF), in line with Abe's drive to have the fund make riskier investments and rely less on low-yielding government bonds. Global financial markets are keenly watching GPIF's investment strategy as the fund, bigger than Mexico's economy, is a huge investor and a bellwether for other Japanese institutional investors. More »Japan overhauls its public pension fund, the world's biggest

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