| Royal Philips sells Taiwan stock
Royal Philips Electronics NV said Monday it sold about 887 million shares of common stock in Taiwan Semiconductor Manufacturing Co. Ltd. for about 1.3 billion euros ($1.71 billion). The transaction will result in Philips booking a one-time gain of approximately 725 million euros ($961.4 million) in the first quarter of 2007. The company said it now holds 12.8 percent of Taiwan Semiconductor, down from 16.2 percent previously. Philips shares slipped 0.5 percent to close at 28.11 euros ($36.89) in Amsterdam. .
JPMorgan Expands Boston Operations
JPMorgan has hired more than 150 new employees in the past year and plans to hire more this year to provide custody, accounting, investment operations and fund administrative services for U.S. mutual fund companies. The firm recently signed a lease to expand into new office space at 1 Beacon Street. Terms were not disclosed. "We have won several key client mandates and are expanding to ensure we can continue to provide services at the same high level of quality," said Mark Kelley, head of JPMorgans U.S. Fund Services business. "JPMorgan will keep investing in all the people, products and services required to be a premier provider in the funds services industry." The Fund Services expansion is the latest investment by JPMorgan in the state of Massachusetts, where the bank has more than 1,000 employees and serves more than 1.5 million consumers.
Strides Arcolab begins Grandix due diligence
It is too early, as the due diligence has just started, he said. During March, the company received tentative approvals from the US Food and Drug Administration for new drug applications [NDA] as well as abbreviated new drug applications (ANDAs) for various fixed dose combinations of Antiretroviral (ARV) drugs like Lamivudine, Stavudine, Nevirapine and Efavirenz. Strides Arcolab, which is among the worlds top 5 soft gel capsule manufacturers, has 13 plants in India, the US, Brazil, Mexico, Poland and Italy. The company, with marketing presence in 55 countries, has teamed up with global organisations like Unicef, Global TB Drug Facility and Clinton Foundation. .
Mavent Appoints Steve Ridder Vice President of Sales
IRVINE, Calif.--(BUSINESS WIRE)--Mavent Inc., a leading provider of automated compliance solutions to the financial services industry, has added compliance technology veteran Steve Ridder as vice president of Sales. Ridder brings to Mavent extensive knowledge of the regulatory climate in the mortgage industry and a proven record of helping mortgage lenders and investors apply technology to improve quality control and due diligence within an organization. He has more than 13 years of experience in quality assurance and business-to-business technology sales, with more than four years experience in the sales of automated compliance technology. As vice president, he is responsible for the innovative application of both the Mavent Expert System, its front end portal, MC2, and other integrated products and services to meet the unique needs of lenders, investors and other potential clients or distribution partners.
Midcap action likely to continue through the year: Deewan
According to Neeraj Deewan, Director of Quantum Securities, FMCGs may not outperform in the long run and the year should see more of midcap action and lays his best bets on media and capital goods. Excerpts from CNBCTV18s exclusive interview with Neeraj Deewan: Q: Two stocks or rather the sector that seems to have outperformed over the past few days has been FMCG. Your thoughts on Hindustan Lever and ITC at current levels? A: Frankly, we have not been very bullish on FMCG because it has been under-performing for quite sometime. So if someone has bought them as a trading or an investmaent idea, I feel some sort of profit taking can be taken - because going ahead also, I dont feel that it will outperform the market in the long run. So there are other sectors that might outperform rather than FMCG.
bellwetherreport.com: Market Commentary on Rite Aid Corp
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States, which primarily provide pharmacy services. The company sells prescription drugs and other merchandise called as front-end products. It offers approximately 25,000 front-end products, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise, and various other everyday and convenience products, as well as photo processing. The company serves customers covered by health plan contracts, which contract with third parties payors, such as insurance companies, prescription benefit management companies, governmental agencies, private employers, health maintenance organizations, and other managed care providers.
Mid East’s Mega Projects Create Heavy Demand for Innovative Flooring
As region-wide projects reach the interior design stage, there is now heavy demand for all types of innovative flooring solutions to keep pace with the diverse range of wall and ceiling elements, not to mention lighting and audio visual applications, according to Kenneth Laidler, President, APID. The concentration of mega projects in the UAE is strong and has placed emphasis firmly on design. The region is rich in creative talent, and this boundless imagination combines with visionary clients to produce some of the most fascinating interior spaces. It seems that in design terms bigger is often regarded as better, which may result in huge interior spaces. The bigger these spaces get, the more they become a critical design component, and to fill those spaces correctly the more innovative flooring solutions are sought.
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