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(MENAFN - AFP) US drugmaker AbbVie on Wednesday said its $46 billion takeover bid for Shire Pharmaceuticals offered the Irish company a fat premium and the chance to become part of a global heavyweight.

AbbVie, repeatedly rebuffed by Shire since an initial cash-and shares acquisition proposal on May 6, reiterated its latest informal bid of £46.26 ($78.59) per share.

In ...


(MENAFN - AFP) French air traffic controllers Wednesday ended a two-day strike that was supposed to run till the weekend after marathon talks with the government, unions said.

The strike, which stranded hundreds of passengers, was called off after the government recognised the "importance of investment in the sector," said the Unsa-ICNA union which launched the protest.

Some ...


(MENAFN - AFP) Ukraine on Wednesday said gas was still flowing to Europe despite a supply cut from Russia and invited the EU to send inspectors to ensure stocks were not being siphoned away.

Europe gets about 30 percent of its gas from Russia, with half of that transiting through Ukraine, but on June 16 Moscow cut off supplies intended for Kiev amid a bitter price dispute.

"We ...


(MENAFN - AFP) General Electric scored large in its win over Siemens to buy the energy arm of French industrial giant Alstom.

But being forced to accept the involvement of the interventionist French government in its largest-ever acquisition could render the deal less sweet than GE hoped.

On Saturday, the American company finalized a 12.34 billion euro ($16.8 billion) ...


(MENAFN - AFP) British lender Wonga, which offers high-interest short-term loans to people in dire need of cash, must pay £2.6 million in compensation after sending fake legal letters to pressure customers into repayments, regulators said Wednesday.

The company has agreed to pay the equivalent of $4.4 million or 3.2 million euros in compensation to 45,000 customers in ...


(MENAFN - AFP) Deutsche Bank, Germany's biggest lender, said on Wednesday it raised a total 8.5 billion euros ($11.6 billion) from its recent capital increase.

"Deutsche Bank has completed the capital increase ... it announced on May 18," the bank said in a statement.

"The number of shares of Deutsche Bank has increased by 359.8 million to 1.379 trillion. The gross ...


(MENAFN - AFP) Taiwanese technology giant Foxconn said Wednesday an affiliate has filed a lawsuit in the United States against three top Japanese companies for allegedly infringing on its patents.

MiiCs & Partners, which assists patent holders to design, develop and manage patent portfolios, filed the lawsuit in Delaware's Federal District Court, accusing Toshiba Corporation, ...


(MENAFN - AFP) Nakheel, the real estate giant at the heart of Dubai's financial crisis, said Wednesday it will pay off all its bank debt of 7.9 billion dirhams ($2.15 billion) ahead of schedule.

"Our payment is covering up to the last instalment (scheduled for) 2018," Nakheel chairman Ali Rashid Lootah told reporters.

The full amount would be paid in August despite ...


(MENAFN - AFP) The US economy shrank 2.9 percent in the first quarter, the sharpest contraction in five years, the Commerce Department said Wednesday.

The previous estimate was a 1.0 percent contraction for the first three months of the year, and analysts had expected a more modest 1.8 percent decline.

The Commerce Department said it downwardly revised its May gross ...


(MENAFN - AFP) For one year, Greta Taubert renounced our consumer society. Eating, drinking and dressing without spending a cent, the 30-year-old German woman wanted to see what life would be like if the economic system collapsed.

The first thing she badly wanted after her 12 months of consumer abstinence "Tights," she replied spontaneously, nursing a cappuccino in a cafe ...

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