Research cuts may haunt Pfizer, ex-R&D chief says
July 5, 2011 – By Lewis Krauskopf
NEW YORK – Pfizer Inc
Pfizer, the world’s largest drugmaker, said in February it would cut its planned research spending in 2012 by as much as one-fourth. Th
Investment Column: Get in on ground floor at Morgan Sindall
Our view: Buy
Share price: 659p (+18p)
We’ve been long-term holders of the construction group Morgan Sindall, which issued an optimistic trading statement yesterday suggesting that it could be the time to upgrade our view.
The group operates across a range of sectors including infrastructure, social housing, fitting out completed developments and project management. It also has an investment arm that provides funding and expertise for public projects.
Anything with the words “public sector” attached to it generally causes investors to run. And the housing market continues to be constrained by banks’ unwillingness to lend.
Fed’s Hoenig: Rates Should Have Risen By Now
Fed’s Hoenig: Rates should have risen by now WASHINGTON — The Federal Reserve should have raised its short-term interest rate target 18 months ago, said Thomas Hoenig, the retiring president of the Kansas City Fed on Thursday according to a report from Dow Jones Newswires. After a speech in Ada, Okla., Hoenig was asked when the Fed could raise rates. Hoenig replied that he didn’t know the answer to that. “I thought I had a good explanation for why they should do that 18 months ago.” Hoenig said he favors a “non-zero monetary policy.” Hoenig is retiring from the Fed is October. He is not a voting member this year.
BofA to close printing operation in Mass.
BOSTON – Bank of America Corp. is closing a printing operation in Malden, Mass., and eliminating 150 jobs, The Boston Globe reported.
The bank will shift the work to its sites in Delaware, New Jersey and Texas by April. It will begin laying off the workers next month.
The Malden site handles high-speed printing jobs for customer mailings and inserts, and is no longer needed as more customers choose to “go paperless” with online statements.
The bank will, however, retain its other operations in Malden where it has more than 500 employees. In Ma
Hulu bankers said to meet suitors Google, Yahoo, Microsoft
LOS ANGELES – Bankers for Hulu LLC, the video-streaming service, have met with Google Inc., Yahoo Inc. and Microsoft Corp. as the company explores a sale, people familiar with the process said.
Morgan Stanley and Guggenheim Partners have reached out to 10 to 12 potential bidders, including AT&T Inc., said two people who weren’t authorized to speak publicly.
A sale may bring more than $2 billion to Hulu’s owners, which include Walt Disney Co., News Corp. and Comcast Corp.’s NBC Universal, according to data compiled by Bloomberg and SNL Kagan. Hulu
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