By Bruce Japsen | Abbott
Laboratories said it has signed a deal with India-based Zydus Cadila of
India to sell a portfolio of the India company’s drugs, including
generic medicines, in 15 emerging markets.
Filed under: International
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Abbott signs licensing deal with Zydus, forms unit
Kraft to close headquarters in Britain
From BBC News | Northfield-based Kraft Foods, which now owns chocolate maker Cadbury, has announced plans to close its headquarters in Britain. The US company said it would move workers from its office in the town of Cheltenham to Cadbury’s current headquarters in Uxbridge, and to Cadbury offices in Bournville. Bournville, which is the historical home of Cadbury, will become a center for research and development. Kraft did not say whether the plans would include job losses.
Get the full story: bbc.com.
American Airlines to begin Chicago-Beijing service
Associated Press via Forbes | American Airlines will begin nonstop service from Chicago’s O’Hare International Airport to Beijing on May 25, the carrier said Monday.
There will be four flights per week and on May 27, American will initiate the same number of nonstop flights from Beijing to Chicago. American will offer daily departures from both cities starting July 3.
Get the full story: forbes.com.
Interest rates up sharply on rescue plan news
Associated Press | Interest rates surged in the bond market Monday after European leaders and central banks around the world agreed to rescue measures to help stem growing debt problems in Europe. European Union leaders and the International Monetary Fund agreed to a nearly $1 trillion aid package that will help weak European countries like Greece that are facing mounting debt problems. The U.S. Federal Reserve is also making loans available to central banks in Europe that can then loan the money out to financial institutions in their countries.
Get the full story: Interest rates up sharply on rescue plan news.
United, Continental left out of new Tokyo routes
Associated Press | The Transportation Department says it plans to award four new routes to Tokyo to Delta Air Lines, American, and Hawaiian. Continental and United were left out.
New riots erupt after Greece passes austerity cuts
Associated Press | Greek police fired tear gas to repel
stone-throwing protesters after lawmakers approved drastic austerity
cuts Thursday needed to secure international rescue loans worth $140
billion.
The rescue loans are aimed at containing the debt crisis and keeping
Greece’s troubles from spreading to other countries with vulnerable
state finances such as Portugal and Spain. The money will come from the
International Monetary Fund and the 15 other governments whose
countries use the euro.
Clashes in Athens broke out at the end of the main protest that drew
tens of thousands of people as police pushed back a few thousand
demonstrators outside parliament.
Internet addresses not English-only anymore
Associated Press | It’s now possible for websites to use addresses entirely in Arabic.
The first three domain names in non-Latin characters have been added to
the Internet’s master directories, following final approval last month
by the Internet Corporation for Assigned Names and Numbers, or ICANN.
It’s the first major change to the Internet domain name system since
its creation in the 1980s.
McDonald’s to franchise in China
From Reuters | After testing the market with company-owned stores, McDonald’s Corp.
said it is looking for franchise partners in China to help it expand in its fastest growing market.
Get the full story: reuters.com
3 die in burning bank in Greek economic riots
A rock makes its way toward Greek riot policemen in a clash with protestors in the center of Athens over unprecedented austerity cuts needed to avert fiscal meltdown. (Dimitar Dilkoff/AFP/Getty Images)
Associated Press | Deadly riots over new austerity measures engulfed the streets of Athens
on Wednesday, and three people were killed as angry protesters tried to
storm parliament, hurled Molotov cocktails at police and torched
buildings.
Tens of thousands of people took to the streets as
part of nationwide strikes to protest new taxes and government spending
cuts demanded by the International Monetary Fund and other European
nations before heavily indebted Greece gets a $141 billion bailout
package of loans to keep it from defaulting.
Three people died
after being trapped in a burning bank along the main demonstration
route in central Athens — the first deaths during a protest in Greece
since 1991, when four people trapped in a burning office building were
killed. Another five were rescued.
May 4, 2010 at 10:30 a.m.
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Filed under: Chicago executives, International, Investing, Venture capital Another top executive ‘let go’ at Citadel
Dow Jones Newswires-Wall Street Journal | Patrik Edsparr has left Citadel Investment Group, making him the Chicago hedge-fund firm’s latest top executive to depart.
Citadel spokeswoman Katie Spring said Edsparr was “let go” from the
firm within the last two weeks. Messages left for Edsparr and his
assistant at Citadel’s London office Tuesday weren’t immediately
returned. He didn’t respond to an email seeking comment. Edsparr had
told associates in London in recent days that he was leaving, says a
person close to the matter.
American further delays Chicago-Beijing service
American Airlines is further delaying the launch of flights between Chicago’s O’Hare International Airport and Beijing because it has yet to get approval for certain takeoff and landing times from Chinese authorities.
The airline said earlier this week it was tentatively delaying the start of flights until May 4. On Friday, the airline said it now plans to start the service on May 25.
April 30, 2010 at 10:24 a.m.
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Filed under: China, Food, Government, International, Investigations, Policy, Politics FDA accused of not pursuing leads in heparin case
From The Wall Street Journal | A Congressional committee faulted the Food and Drug Administration for not pursuing “specific and credible leads” to identify culprits in China during the 2008 crisis involving contaminated imported heparin.
Get the full story: wsj.com.
More worried Greece could be global contagion
German President Horst Koehler speaks to the participants of the 9th Munich Economic Summit in Munich. (AP Photo/APN/Uwe Lein)
Associated Press | The debt troubles in Greece are intensifying and, even more dangerous, spreading fear across Europe and beyond.
That is triggering talk of a potential global contagion, similar to
what happened after the investment bank Lehman Brothers collapsed in
2008, setting off the worst financial crisis in the United States since
the 1930s and contributing to a deep global recession.
“Greece as an economy is tiny but the danger is contagion and market
panic,” said David Wyss, chief economist at Standard & Poor’s in
New York.
Saudi Arabia-Chicago forum to focus on trade
By Kathy Bergen | Saudi Arabian commerce officials will sign a series of cooperative
agreements with two U.S. corporations, as well as two Chicago
organizations, at an economic development summit under way in Chicago.
The
international trade committee of the Saudi Chambers of Commerce and
Industry will sign a memo of understanding today with the Chicagoland
Chamber of Commerce and World Business Chicago, agreeing to promote
economic activity between the two regions. The focus will be on
industry, trade and technology.
Trichet calls for deficit cuts and finance reform
By Gail MarksJarvis | European Central Bank President Jean-Claude Trichet said in Chicago today that budget deficits in developed countries are, in part, an outgrowth of the “bold” measures that were needed to avoid a worldwide depression, but now he places “extreme importance” on cutting deficits.
Get the full story: MarksJarvis on Money.
