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| Pfizer engages AstraZeneca with raised $106 billion offer Friday, May 02, 2014 12:32 AM PDT  By Ben Hirschler LONDON (Reuters) - U.S. drugmaker Pfizer Inc has raised its offer for AstraZeneca Plc to 63 billion pounds ($106 billion), it said on Friday, adding that the British drugmaker was reviewing the proposal. Pfizer's pursuit of AstraZeneca to create the world's biggest pharmaceuticals company - and cut its tax bill - comes amid a wave of deal-making in the healthcare sector. The 50 pounds ($84.47) a share indicative offer follows AstraZeneca's decision to rebuff an earlier proposal valuing it at 58.8 billion pounds, or 46.61 pounds per share. "Given where the shares have come from, this doesn't look unreasonable," said one fund manager whose institution is among the top 10 investors in AstraZeneca. Full Story | Top |
| U.S. warns of South Sudan genocide risk, raises hope of new forces Friday, May 02, 2014 12:28 AM PDT By Phil Stewart and Aaron Maasho ADDIS ABABA (Reuters) - U.S. Secretary of State John Kerry warned on Thursday that South Sudan's conflict could descend into genocide, as he renewed threats of sanctions and raised hope that more peacekeeping forces could be deployed swiftly to halt the bloodshed. Kerry, emerging from talks about the increasingly ethnic slaughter in South Sudan with foreign ministers from neighbouring Ethiopia, Uganda and Kenya, said all sides agreed the "killing must stop." "A legitimate force that has an ability to help make peace needs to get on the ground as rapidly as possible," Kerry said in Addis Ababa at the start of an African trip. Addressing reporters later, Kerry said the goal was "in these next days, literally, we can move more rapidly to put people on the ground who could begin to make a difference." His Ethiopian counterpart, Foreign Minister Tedros Adhanom, said all sides stressed the need for deployment of a force "as soon as possible." A spokeswoman said Kerry was referring to regional forces under the authority of the United Nations, which already has a mission in South Sudan. Full Story | Top |
| Suspected bomb on edge of Nigerian capital kills at least 15 Friday, May 02, 2014 12:15 AM PDT  By Isaac Abrak and Afolabi Sotunde ABUJA (Reuters) - A suspected car bomb exploded on the outskirts of Nigeria's capital Abuja on Thursday, killing at least 15 people a week before the city was to host a conference of leaders and business executives focused on Africa's growth prospects, witnesses said. The explosion hit the suburb of Nyanya, close to the site of a morning rush hour bomb attack at a bus station last month that killed at least 75 people. The April 14 attack was claimed by the radical Islamist movement Boko Haram which is waging an insurgency against President Goodluck Jonathan's government. Flames lit up the area around the blast, which was strewn with drying blood and contorted bodies, and sirens wailed. "There was a loud blast then a ball of fire," witness Lateef Adebayo told Reuters by telephone from Nyanya. Full Story | Top |
| AstraZeneca says board will review Pfizer offer Thursday, May 01, 2014 11:44 PM PDT LONDON (Reuters) - AstraZeneca's board will be reviewing a sweetened takeover offer from Pfizer but the company has no further comment at this stage, a spokeswoman for the British drugmaker said on Friday. Earlier the U.S. drugmaker revealed it had raised its offer for the British group to 63 billion pounds ($106 billion). (Reporting by Ben Hirschler; editing by Kate Holton) Full Story | Top |
| Pfizer commits to UK research hub in Astra battle Thursday, May 01, 2014 11:38 PM PDT U.S. pharmaceutical group Pfizer Inc has told Prime Minister David Cameron it will retain British jobs and a planned scientific research hub in Cambridge if it succeeds in its bid to take over rival AstraZeneca. Pfizer laid out a number of pledges in a letter to Cameron, including establishing the combined company's corporate and tax residence in England and completing a substantial R&D innovation hub in Cambridge, eastern England. Pfizer also vowed that 20 percent of the combined company's total R&D workforce would be in Britain if the deal goes ahead. "We would like to assure the government of our long term commitment to the UK where Pfizer already employs a significant number of colleagues across Research, Commercial, and Administrative roles," the company said on Friday. Full Story | Top |
| Liar! Liar! African bird uses elaborate ruse to steal food Thursday, May 01, 2014 06:23 PM PDT  By Will Dunham WASHINGTON (Reuters) - If you believe honesty is the best policy, you would have a hard time convincing the forked-tailed drongo. "They're rather demonic little black birds with red eyes, a hooked beak and a forked tail," said evolutionary biologist Tom Flower of the University of Cape Town in South Africa. Full Story | Top |
| Vertex says cystic fibrosis drugs shown to boost lung function Thursday, May 01, 2014 05:51 PM PDT Vertex Pharmaceuticals Inc on Thursday said a combination of its cystic fibrosis drug Kalydeco and an experimental compound was shown to improve lung function in a mid-stage trial, sending its shares up nearly 8 percent. The study found that treatment with Kalydeco and the experimental drug VX-661 for 28 days resulted in a 4.6 percentage point improvement in mean lung function for patients with two specific genetic mutations. If eventually approved by regulators, VX-661 would be the second drug from Vertex that works by treating the underlying cause of cystic fibrosis, a rare genetic disease that impairs the lungs and digestive system. Full Story | Top |
| Berkshire's energy unit to buy Canada's AltaLink for $2.9 billion Thursday, May 01, 2014 04:40 PM PDT (Reuters) - Berkshire Hathaway Inc's energy unit said on Thursday it will buy AltaLink, Canada's regulated electricity transmission company, from SNC-Lavalin Group Inc for about $2.9 billion in cash. AltaLink will operate as a separate company under Berkshire Hathaway Energy with its current name and will continue to be headquartered in Calgary, the two companies said in separate statements. SNC-Lavalin had said in September that it was looking to sell its equity stake in AltaLink as part of its strategic plan to trim ownership of infrastructure investments and monetize assets. Full Story | Top |
| BP cleaning up oil spill on Alaska's North Slope Thursday, May 01, 2014 03:49 PM PDT Work crews for BP Plc were clearing contaminated snow on Thursday on Alaska's North Slope after a Prudhoe Bay well line ruptured, spraying a 34-acre area with crude oil and natural gas. Just how much liquid escaped from the line remains under investigation by BP and Alaska's Department of Environmental Conservation. It remains unclear whether the leak, detected earlier this week, is connected to a decline in North Slope oil production. Since the spill occurred, daily North Slope production has dropped about 10,000 barrels per day, from 533,000 to 521,000, according to state tracking data. Full Story | Top |
| Scientists vexed in probe of North American starfish deaths Thursday, May 01, 2014 03:22 PM PDT By Will Dunham WASHINGTON (Reuters) - Scientists are struggling to find the cause of a disease that is killing off numerous species of starfish on both the Pacific and Atlantic coasts of North America, dispatching the five-armed creatures in a particularly gruesome way. The starfish, also called sea stars, are being obliterated by an unexplained wasting disease that causes white lesions to appear before the animal's body sags and ruptures and it spills out its internal organs. Full Story | Top |
| Derailed CSX train carried Bakken oil for Plains All American Thursday, May 01, 2014 02:14 PM PDT  By Patrick Rucker LYNCHBURG, Virginia (Reuters) - The CSX Corp train that derailed and erupted in flames in Lynchburg, Virginia, was carrying crude from the Bakken shale in North Dakota, the kind of oil involved in several other fiery derailments, the railroad said on Thursday. The consignment of oil, more than 800 barrels of which spilled into the James River and caused a miles-long sheen, belonged to Plains All American, a big energy logistics firm that runs an oil terminal on the Virginia coast, three industry sources told Reuters. It may take days or weeks to finish investigating the incident, said National Transportation Safety Board investigator Jim Southworth. Three tumbled down an embankment into the James River. Full Story | Top |
| Ukraine wins IMF deal, faces $9 billion in debt payments this year Thursday, May 01, 2014 02:13 PM PDT The International Monetary Fund's board has signed off on a $17 billion bailout for Ukraine to boost the former Soviet state's failing economy, weakened by months of upheaval and a stand-off with Moscow that has triggered the worst East-West crisis since the Cold War. Ukraine desperately needs to increase revenues to try to meet its foreign currency debt obligations, and the first disbursement of $3.2 billion to Kiev will help it meet immediate payments. Below is a list of what Ukraine needs to pay and what it expects to receive in credits this year. Full Story | Top |
| Oil on derailed CSX train belonged to Plains All American: sources Thursday, May 01, 2014 01:57 PM PDT The Bakken oil shipment aboard the CSX Corp train that derailed and burst into flames in Virginia on Wednesday belonged to midstream energy firm Plains All American LP, according to three industry sources. Plains All American did not respond to repeated requests for comment. Plains All American operates a terminal in Yorktown that can handle 140,000 barrels-per-day of oil. Full Story | Top |
| TSX ekes out gain as Manulife, Catamaran climb Thursday, May 01, 2014 01:54 PM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index edged higher on Thursday as gains in Manulife Financial Corp and Catamaran Corp helped offset a decline in shares of Bombardier Inc after those companies reported results. Goldcorp Inc , one of the world's biggest gold miners, also unveiled a quarterly statement which showed a decline in profit. The Toronto stock market's benchmark index climbed to its highest level in nearly six years earlier in the session. On Wednesday, investors cheered upbeat commentary on the U.S. economy by Federal Reserve Chair Janet Yellen. Full Story | Top |
| Geomagnetic storms may influence risk of stroke Thursday, May 01, 2014 01:24 PM PDT By Kathryn Doyle NEW YORK (Reuters Health) - More strokes happen when geomagnetic storms are afoot, according to a new review of stroke literature - although it's not clear what protective measures anyone could take, researchers said. Geomagnetic storms happen when the Earth's magnetic field is disturbed by solar winds or coronal mass ejections, which throw out powerful magnetic fields from the sun. Among more than 11,000 people who had a stroke, the event was almost 20 percent more likely to happen on days with geomagnetic storms, researchers in New Zealand found. "The results were a big surprise to us," said lead author Dr. Valery L. Feigin of the National Institute for Stroke and Applied Neurosciences at the School of Rehabilitation and Occupation Studies at Auckland University of Technology. Full Story | Top |
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