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GlaxoSmithKline told that Avandia risks may be overstated

GlaxoSmithKline told that Avandia risks may be overstated

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Glaxo said it found Avandia did not raise the risk of death, heart attack or stroke. Heath experts re-examining the company’s findings have now supported the conclusion. “We appreciate the committee’s thorough examination of the results and will continue to work with the FDA as it considers the recommendation of the committee,” Dr James Shannon, Glaxo’s chief medical officer, said in a statement last night. “We continue to believe that Avandia is a safe and effective treatment option for type…

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AdvisorShares Announces the Closing of the Rockledge SectorSAM ETF

AdvisorShares Announces the Closing of the Rockledge SectorSAM ETF

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AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Rockledge SectorSAM ETF (NYSE: SSAM) will be closed. The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of SSAM. Following its last day of trading on June 14, 2013, the ETF will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after June 21, 2013. (Logo: http://photos.prnewswire.com/prnh/20110909/PH64986LOGO) Noah Hamman, CEO of AdvisorShares, said, “We carefully review the entire…

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Nestle and Mars charged with chocolate price fixing

Nestle and Mars charged with chocolate price fixing

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The criminal charges are the latest development in a scandal that has already resulted in a major class-action suit. Hershey, Mars and Nestle all agreed to settlements as part of that suit. A similar class-action suit in the US is still making its way through a Pennsylvania court. The Competition Bureau said it also charged three individuals: Robert Leonidas, the former chief executive of Nestle Canada; Sandra Martinez, former Nestle Canada president, and David Glenn Stevens, president and chief executive…

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Will the McMansion Ever Die?

Will the McMansion Ever Die?

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In the U.S., new houses are bigger than ever, and truck and SUV sales are climbing back. McMansions with giant SUVs parked in the driveway were pretty much the epitome of middle class excess during the housing bubble. Then gas prices spiked, the crash came, and both houses and cars shrank a bit as Americans turned thrifty.  But old habits die hard. While consumers aren’t buying nearly as many houses or autos as they were before the recession, those who…

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Business news and markets: live

Business news and markets: live

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11.18 Japanese prime minister Shinzo Abe has told news agency AFP that his policies are the “only way” to rein in Japan’s enormous public debts and drive growth. The IMF recently expressed cautious support of his policies, highlighting the “considerable downside risks” of the government’s national debt, which is the world’s biggest at more than 200pc of GDP. Earlier (10.53) we reported that an influential committee of the Japanese government has indicated that Tokyo will stick to tough debt and…

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Vanguard Natural Resources Closes on Public Offering of 7M Units at $28.35/Unit

Vanguard Natural Resources Closes on Public Offering of 7M Units at $28.35/Unit

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On June 4, 2013, Vanguard Natural Resources, LLC (NYSE: VNR) (the“Company”) closed its previously announced public offering of 7,000,000common units representing limited liability company interests in theCompany at a price of $ 28.35 per common unit. The underwriters have beengranted a 30-day option to purchase up to an additional 1,050,000 commonunits from the Company at the public offering price less theunderwriting discount. The Company intends to use the net proceeds from the offering ofapproximately $ 190.9 million, after deducting underwriting…

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