Pre-tax profits at Genzyme last year almost tripled to €272.6m. The pharma firm is one of the largest employers in the south east with 615 staff in Waterford. New accounts from Genzyme Ireland show that it enjoyed the 175pc pre-tax profit increase after receiving dividend income from a subsidiary of €197m. Revenues at the company […]

NEW YORK (Reuters) – Investors who bought insurance meant to mitigate losses from Sears Holdings Corp’s (SHLDQ.PK) bankruptcy proceedings are claiming that a hedge fund that sold the insurance is improperly influencing market proceedings, according to a letter seen by Reuters. According to the letter, Cyrus Capital Partners LP worked to “torpedo” an auction planned […]

Shortly after Carlos Ghosn took over in 1999 as chief operating officer of an ailing Nissan Motor, he overhauled the way the company paid senior employees. Abandoning Japanese traditions that rewarded seniority and shunned incentive awards, Mr. Ghosn enforced a performance-based system and gave bonuses to midlevel managers. The move rankled traditionalists but reflected Mr. […]

Get the DealBook newsletter to make sense of major business and policy headlines — and the power-brokers who shape them.__________ Wall Street’s turn against big tech is adding up. As investors have dumped shares of Facebook, Amazon, Apple, Netflix, and Google-parent Alphabet, $845 billion in value has been wiped off their combined market value since […]

(Reuters) – The S&P 500 hit a three-week low on Tuesday, as weak earnings from retailers including Target and Kohl’s as well as a fall in energy shares added to worries for Wall Street, which is still reeling from a selloff in technology stocks. Target Corp shares (TGT.N) slumped 10.28 percent after the retailer’s third-quarter […]

(Reuters) – The S&P 500 hit a three-week low on Tuesday, as weak earnings from retailers including Target and Kohl’s as well as a fall in energy shares added to worries for Wall Street, which is still reeling from a technology selloff. Target Corp shares (TGT.N) slumped 10.65 percent after the retailer’s third-quarter profit missed […]

Ryanair is launching a new service from Dublin Airport to the capital of Ukraine. The budget airline will operate the route to Kyiv twice weekly from April of next year . Dublin Airport Managing Director Vincent Harrison said that, with a population of more than 2.8 million, Kyiv is a major city in eastern Europe […]

Yet another women’s magazine is moving away from print. Condé Nast, the legacy publisher of glossy and aesthetically rich magazines like Vogue, Vanity Fair and The New Yorker, announced on Tuesday that it was ending regular print publication of Glamour. Two moves foreshadowed the change. Last year, Condé Nast reduced Glamour’s frequency to 11 issues […]

MILAN (Reuters) – Chocolate spread Nutella has long had pride of place on supermarket shelves but faces imminent attack from an Italian rival usually found in the pasta section. Italy’s Barilla, known internationally for its spaghetti and maccheroni packaged in blue boxes, is preparing to launch a chocolate spread next year in a major challenge […]

(Reuters) – U.S. stock futures dropped by up to 1 percent on Tuesday as a technology rout in the previous session sparked by concerns over iPhone sales sapped investors’ appetite for high-growth companies. Shares of Apple Inc (AAPL.O) lost 1.4 percent in premarket trading, putting it on course for its seventh decline in the past […]