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TUI suffers as cuts dent holiday sales

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic Mirrorautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof whatsapp TUI Travel saw its London-listed shares plunge by almost ten per cent yesterday after the Thomson Holidays owner said bookings had fallen over the third quarter of its fiscal year.Europe’s largest travel operator said airspace closures due to the volcanic ash crisis, coupled with uncertainty caused by government Budget cuts, had hit its business hard. The good weather in the UK also encouraged more people to have so-called “staycations” in Britain, leading to a 10 per cent dip in booking volumes in the three months to the end of June compared with last year. Revenue fell to £3.4m, from £3.6m a year ago.TUI chief executive Peter Long said: “The strong booking trends experienced up until the volcanic ash disruption in mid-April and the subsequent rebound in early May were not sustained in the early summer period.“In the UK, the market has slowed markedly following the recurrence of airspace closures, the emergency Budget and subsequent austerity measures, and the better than average UK weather, combined with quiet trading during the World Cup.” Bookings in the Netherlands were also lower than a year earlier, but those in other key European markets increased. The company said its winter holiday schedule had started well with bookings for the last four weeks up 22 per cent. Analyst Richard Hunter at Hargreaves Lansdown said: “The current trading position has marginally improved, although management remains understandably cautious for full-year prospects. The third quarter update follows on from a first half loss in May.” KCS-content Tuesday 10 August 2010 8:36 pmcenter_img Share Show Comments ▼ TUI suffers as cuts dent holiday sales Tags: NULLlast_img read more

RBS to issue new securities

first_img KCS-content Monday 13 September 2010 9:02 pm Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald RBS was particularly tarnished as it relied heavily on securitisation markets prior to its near-collapse, when the government was forced to buy-up an 84 per cent stake in the bank.But as the government prepares to cut back its interest in the bank, it is desperate to exploit new funding streams. It must hike its supply of loans by the end of the year if it is to meet government targets.The bank also announced yesterday it has sold £1.3bn of five-year global senior unsecured notes. The 3.95 per cent notes were priced at 99.973 to yield 250 basis points over US Treasuries. Tags: NULL Share ROYAL Bank of Scotland (RBS) yesterday marked the clearest sign yet that the UK banking sector is emerging from the financial crisis.The banking giant will issue £4.7bn of securities backed by mortgages in the first move of its kind since the onset of the financial crisis.The issuance is a vital step for the economic recovery as it allows banks to take loans off their balance sheets, freeing up capital for new lending.It also shows the bank is confident that investor appetite for mortgage-backed securities has increased. The market – in which loans are bundled together into new bonds, secured by their repayments – was devastated by the sub-prime crisis in the US. whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof RBS to issue new securities last_img read more

Petra

first_img KCS-content Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ whatsapp DIAMONDS are a shareholder’s best friend. Yesterday’s prelims from Petra cap a year that has been full of positives. A six per cent increase in gross production to 1.16m carats a year and a bigger stake in the Cullinan mine, from 37 per cent to 74 per cent, were the main underlying factors. But it was the sale of a 507 carat stone for $35.3m that really flattered the results, and shareholders should remember this before getting too carried away.?These numbers are good – but they’re not as good as first seems. That shouldn’t detract from an impressive performance. Ongoing operations are doing well, allowing the firm to focus on extracting maximum value from its recent acquisitions, especially the Cullinan and Williamson mines. The latter is on track to more than double production to 2.5m carats by the end of 2014-15. Meanwhile, the market for diamonds goes from strength to strength. Petra says it recent tenders show a “substantial improvement” in prices while the US?market is finally on the up. These shares mightn’t be forever – but they’ll certainly do for now. center_img Monday 20 September 2010 8:58 pm More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Petra whatsapp Sharelast_img read more

UniCredit starts hunting for permanent chief after Alessandro Profumo quits

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Profumo quit on Tuesday amid board rancour over Libyan stake-building and flagging results.The departure of Profumo, Europe’s longest-serving bank chief executive, has left UniCredit rudderless as it struggles to recover from the financial crisis and a series of acquisitions. Chairman Dieter Rampl is acting chief executive and has vowed to replace Profumo in a matter of weeks.The Bank of Italy yesterday added its voice to those calling for a speedy succession. ITALY’S biggest bank UniCredit took a first step in picking a replacement for its chief executive yesterday, who resigned this week after a power clash with shareholders.The board’s strategic, governance and remuneration committees began to prepare the criteria for a successor to Alessandro Profumo, but there is still no list of candidates, said a source close to the issue. whatsapp UniCredit starts hunting for permanent chief after Alessandro Profumo quits Share Show Comments ▼ Thursday 23 September 2010 7:58 pm KCS-content whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

Cairn shareholders approve purchase of Vedanta stake

first_img KCS-content Thursday 7 October 2010 9:45 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Vedanta Resources cleared some hurdles to its $10bn (£6.3bn) plan to take a sizeable stake in Cairn India yesterday but concerns of potential delays to the deal weighed on Cairn Energy shares.Cairn Energy agreed in August to sell London-listed miner Vedanta Resources a stake of between 40 and 51 per cent of Cairn India, the company it formed through spinning off its Rajasthan assets in 2007, for up to $8.5bn.However, rumblings from government and Cairn India’s partner in its big Rajasthan fields, Indian state-run Oil and Natural Gas (ONGC), have prompted fears among Cairn Energy investors that the deal which has been welcomed by analysts, may not close.Cairn said yesterday that over 99 per cent of shareholders had voted to support the planned sale – a result predicted by analysts.Cairn plans to return some cash to investors and invest the rest in exploration. India’s number two oil official, S Sundareshan, downplayed the chances of Indian rival ONGC seeking to pre-empt the sale, saying the high cost would be a problem. “I don’t think the ONGC board has seriously considered a counter offer,” he said. Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrapcenter_img whatsapp Share Cairn shareholders approve purchase of Vedanta stake Show Comments ▼ Tags: NULLlast_img read more

Debenhams brand fuels profit surge

first_img DEBENHAMS said yesterday that sales of its own brand ranges had helped it to increase its profit by 20 per cent.The rise in the year to 28 August came as the company also reduced its debt.Sales of Debenhams own brand ranges, which include H! by Henry Holland and Principles by Ben De Lisi, grew 15.4 per cent on the previous year to £497.7m.The pre-tax profit rise to £151m also heralds the resumption of dividend payments in 2011, the company said. Chief executive Rob Templeman said: “In spite of the uncertain outlook, there is much to be positive about our business which will enable us to make further progress over the next year.”The group, which has 167 stores across the UK, Ireland and Denmark, said its net debt was £516.8m, down £73.5m on the year earlier period. The retailer said it had managed to offset the rising cost of materials like cotton by effective sourcing.Sales at stores open at least a year were flat compared with the previous 12-month period, while gross profit margins were up 70 basis points as the firm moved over 530,000 square feet of trading space from concessions to own bought products.Templeman added: “Although we remain concerned about the general retail environment, we are encouraged by the start to the new financial year which has seen positive like-for-like sales and gross margin in the early weeks.”Debenhams said its product strategy had led to an increase in market share in clothing, footwear and accessories by 0.2 per cent.The strongest performance was in menswear and childrenswear, the company said.The group said it continued to expand its in-house range, with new menswear and homeware lines released towards the end of the year.As part of its strategy to put margins ahead of sales, set out 18 months ago, Debenhams has also completed a series of store refits and openings, as well as developed its website.The group opened six new stores in the financial year, and completed refits in Manchester, Glasgow and Swindon. It is now refitting five stores, with a further five scheduled for next year.Analyst Kat Calvert of Seymour Pierce said: “The balance sheet is no longer an issue.”Calvert added: “Increasing confidence in the sustainability of Debenhams’ growth story should start to close the valuation gap on its peers.” Debenhams also announced yesterday that its is launching a new clothing line called Edition next spring.Designers Jonathan Saunders, Preen and Jonathan Kelsey, will be the first to take part in the new project, which is aimed at using young talent to create original ranges. KCS-content whatsapp whatsapp Sharecenter_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Debenhams brand fuels profit surge Thursday 21 October 2010 8:01 pm Tags: NULLlast_img read more

ArcelorMittal profit jumps by 48 per cent

first_img John Dunne by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Tuesday 26 October 2010 3:31 am ArcelorMittal, the world’s biggest steel company, has said profits jumped 48 per cent in the three months to the end of September compared with the same period a year earlier.Third-quarter net profit was $1.35bn (£858bn), up from $910m a year earlier.Sales increased by 30 per cent against a year ago, to $21.04bn.However, earnings were down on the second quarter of teh year and the company warned of higher raw materials prices and slowing demand.ArcelorMittal’s chairman, Lakshmi Mittal, said: “Our outlook for the fourth quarter remains cautious as the expected higher input prices continue to work through the business and demand remains muted, though with some regional differences.” Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Share whatsappcenter_img ArcelorMittal profit jumps by 48 per cent Show Comments ▼ whatsapp Tags: NULLlast_img read more

Apcims hires Euroclear director as its new chief

first_img THE Association of Private Client Investment Managers and Stockbrokers (Apcims) has hired former Euroclear director Dr Tim May as its new chief executive, replacing David Bennett, who stepped down earlier this month.May has been at Euroclear since 2004, and was until recently chairman of the board of the firm in the UK and Ireland. Prior to that, he was chief operating officer at private client wealth manager Gerrard.He is also no stranger to Apcims, having been a non-executive director on the board for over ten years.Bennett made a surprise exit at the organisation’s annual conference in Brussels just over three weeks ago, in order to focus on his position as deputy chairman of Europe Analytica, the public affairs group he co-founded. KCS-content Apcims hires Euroclear director as its new chief More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: NULL Sunday 31 October 2010 10:12 pm Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterGloriousaCouple Wins Lottery, 5 Years Later, Their House Had To Be DemolishedGloriousa whatsapp Share whatsapplast_img read more

Sanofi insists investors will decide on bid

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory Share Sanofi insists investors will decide on bid French drugmaker Sanofi-Aventis said it had called on bid target Genzyme bosses not to use defensive tactics to block a takeover of the US biotech but to let shareholders decide on its $18.5bn (£11.4bn) offer.Sanofi chief executive Chris Viehbacher said in a letter to Genzyme boss Henri Termeer published yesterday that the board should not stand in the way of shareholder choice if it was not prepared to enter direct talks with the French group.“You have publicly disclosed that Genzyme’s board has authorised management and the company’s advisors to ‘probe and evaluate alternatives’ for Genzyme and its assets, including contacting third parties,” Viehbacher said. “We were encouraged to hear this, but to date, we have not been contacted or included in this process.”Viehbacher said certain comments made by Genzyme management seemed to be inconsistent with its publicly stated aim of maximising shareholder returns and listening to shareholders.Sanofi said the comments referred to three possible courses of action for Genzyme: extending the terms of some of its directors, using Massachusetts anti-takeover statutes to block a deal or adopting a “poison pill” to stop Sanofi taking control.“We believe it would be inappropriate for the board to take these defensive actions,” Viehbacher said. “If we are unable to have a direct dialogue with you, in all fairness you should allow your shareholders the opportunity to decide for themselves whether or not to accept our proposal.” Sanofi has stuck to its bid for Genzyme after the US company held a series of meetings to demonstrate it was worth more than the $69 per share Sanofi has offered citing $3bn sales of its MS drug. whatsapp Monday 8 November 2010 8:21 pm center_img Tags: NULL whatsapp Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content last_img read more

Bovis maintains house sales but says market is still tough

first_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKansas coach fired for using N-word toward Black playerthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Bovis maintains house sales but says market is still tough Monday 8 November 2010 9:24 pm KCS-content whatsapp Share Show Comments ▼ HOUSEBUILDER Bovis said yesterday its sales rate rose 14 per cent in the last four months compared to a year ago, and that it expects to see further growth at the start of 2011. The group has sold 1,900 homes in the year so far, around 1,600 of which were private homes and the rest social housing. Total sales are slightly above 2009 levels, when Bovis sold 1,800 homes. However, a reduced number of newly built sites meant Bovis’ sales per site rose 14 per cent to 0.42 homes per week in the period. Chief executive David Ritchie said during a conference call that the average sale price of £160,000 was ahead of Bovis’ forecasts. “Market conditions remain challenging, but the group is well placed to expand its operations and we believe the medium term prospects for the group are strong,” Ritchie added. The group held £14m in cash at the end of October, thanks to around £106m of land cash payments throughout 2010. Bovis swung back into profit during the first half of the year after sales were badly hit during the recession. Bovis’ shares closed 1.1 per cent higher at 354p yesterday. whatsapp Tags: NULLlast_img read more