Bristol-Myers Squibb Co. (BMY) has finally agreed to pay $2.5 billion in cash in order to buy Inhibitex Inc. (INHX). The company they seek to get hold of is the second maker of hepatitis C drugs. The acquisition is due to take place in two months. Inhibitex announced it will ask its shareholders to accept the offer made Bristol – Mayer of $26 per share. This agreement is one of the biggest made by the company since 2007. Gilead Sciences Inc.... [read news]
Hungary’s Premier Viktor Orban took a step back in the confrontation he had with central bank chief Andras Simor. The man is trying to restart discussions regarding an international bailout. The country received its third downgrade earlier today. “The president can count on the government’s support, including our backing for him personally,” Orban told reporters after he met with Simor today in Budapest. The government admitted it was... [read news]
Zynga Inc is trying to receive a more modest evaluation on Wall Street for its first public offering. Considering the fact that several Internet stocks fell under their IPO price in recent weeks, Zynga is trying to attract investors. The maker of social games such as "FarmVille" and "Mafia Wars”, wishes to sell 100 million new shares with prices ranging from $8.50 to $10 each. If this comes to pass then the company will be able to raise... [read news]
Approximately 152 million people are heading towards the checkouts carrying their heavily discounted products aiming to spend about $50 billion. The results were revealed by the National Retail Federation (NRF).Black Friday, the day after Thanksgiving used to mark the moment when retailers move into profit. However, now it marks the day when customers spend hours in queues fighting to buy the latest discounted LCD television.Best Buy, Macy's and... [read news]
Former Procter & Gamble chief executive John G. Smale, the man who managed to transform both of the major international companies he led has passed away on Saturday at the age of 84 years old.Smale was the as chief executive officer of Procter & Gamble from 1981 to 1990. While he served on this post the company managed to double its sales to $24 billion and collect earnings of $1.6 billion. Moreover 15 new product categories were created and... [read news]
Credit card issuers are preparing their holiday rewards just in time for the shopping spree that is due to start anytime now. Companies are trying to lure the customers away from their debit cards and other competitors. While they do their holiday shopping, credit card users are even able to pick up some cash."The rewards have become very, very attractive in terms of cash back and travel," said Bill Hardekopf who works for LowCards.com. "Issuers... [read news]
Russian Prime Minister Vladimir Putin decided to put one of his most trusted allies in charge of the economy on Tuesday and chose one of the low key finance ministers to answer questions about reforms. With this plan, the prime minister is trying to restore unity in anticipation of his plan to return to Kremlin. Putin decided to sacrifice Alexei Kudrin, the former minister after President Dmitry Medvedev demanded his dismissal because the man... [read news]
Dunkin' Brands Group Inc decided on Friday that its international president, Neal Yanofsky, had to leave after serving only four months on his post. "We mutually agreed that this was not a good fit for Neal or Dunkin' Brands, and we will not disclose any further details," a company spokesman explained. Dunkin' Donuts International will now report to Chief Executive Nigel Travis, while Baskin-Robbins International will have to report to Chief... [read news]
Alexander Lebedev, a well known Russian billionaire and British newspaper owner recently punched one of his fellow Russian businessmen during a television talk show. The punch was so powerful that the man was propelled across the room and tossed to the ground. Sergei Polonsky was once a billionaire himself, but unfortunately lost a major part of his business when the economic crisis stroke. Before the start of the show he baited Lebedev... [read news]
Wal-Mart seems to be attracting strange events: a man was found sampling raw meat and was fined by the police, a woman said she had encountered a bat at one of the Minnesota shops and a girl was reported for having met a monkey in Missouri. These events hit the front page daily and they seem to keep on going. The headlines are as follow: "Today's Special at Wal-Mart: Something Weird.""Almost any imaginable aspect of American life can and does... [read news]
