Feb 23, (PRINTWORDS NEWS) UK based gas giant Centrica has signed a £2 billion deal with Qatar in order to meet the gas demands of 2.5 million households in the nation, the company declared on Tuesday. Under the contract which would be valid for a period of three years, the British Gas parent firm would get its liquefied natural gas (LNG) which would be equal to around ten per cent of the gas demands of the households in United Kingdom.

A statement that was issued by the company to make the announcement about the gas deal with Qatar read, “With increasing global competition from emerging economies for LNG, and declining North Sea production, this transaction secures important gas supplies for Centrica and the U.K. for the next three years.” The company officials have emphasized that the £2 billion contract with Qatar is going to provide a major impetus to the energy requirements of United Kingdom in the wake of the stiff increase in competition for gas as well as a dip in the North Sea production. At the same time, the contract also endorses the company’s goal to have a consistent ‘cover’ at hand which includes 60 per cent of the energy and power that it would need while decreasing the need to purchase extra supplies from the market.

While revealing details of the deal, Centrica chief executive Sam Laidlaw said,” LNG provides the UK with a bridge to major global gas reserves. This deal is of particular importance and we hope that this will be the start of a longer term working relationship.”

Feb 16, (PRINTWORDS NEWS) Sanofi-Aventis, the renowned French pharmaceutical company is all set to acquire Cambridge, Massachusetts based Genzyme Corp., company officials highlighted on Wednesday. The deal that is likely to be signed between the U.S. biotechnological firm and the French drugmaker is reported to be worth a whopping $20.1 billion and would also take into account other payments related to the success that the drugs manufactured by the company achieves in the due course of time.

The contract between Sanofi-Aventis and Cambridge based company comes after negotiations have been on going between the two firms over the last nine months while intense talks between company officials taking place on Tuesday before the final announcement was made on Wednesday morning. Reports say, the French drugmaker would be shelling out $74 a share in cash as well as a contingent value right (CVR) for Genzyme Corp. The CVR is nothing but a right that can be traded to additional payments if the U.S. biotechnological firm’s multiple sclerosis drug, Lemtrada is successful in achieving the same regulatory and sales target or the production volume that the drugs, Cerezyme and Fabrazyme accomplished.

The takeover of Genzyme Corp. by the Paris, France based drug manufacturing firm would be the biggest acquisition in the pharmaceutical business since the November, 2009 takeover of Schering-Plough by Merck & Co. with  a staggering $47 billion. At the same time, the acquisition is also likely to impart a significant impetus to Sanofi-Aventis in gaining a stronghold in the drug market for the treatment of rare ailments. The U.S. biotechnological company is likely to turn into the global specialist for Sanofi-Aventis in case rare diseases while sustaining a considerable presence in Boston.

According to its website, this Luxembourg-based company was formed after reinsurance losses from hurricanes Wilma, Rita and Katrina. The earthquake that took place on September 4th, caused considerable damage to more than a million homes and sewage lines in and around New Zealand’s second-largest city, Christchurch. The estimated cost of the damage are rising even today as claims pour in. The cost incurred by the disaster, which damaged over 500 buildings and houses in Christchurch city, would sum up to something between $4.5 billion and $6 billion in September. Reinsurance companies are therefore typically taking on the coverage of big and rare risks, like those of hurricanes, floods and earthquakes.

Last month, Flagstone reported that its third-quarter profit had dropped 45% on costs in relation to the New Zealand earthquake. Flagstone’s results of costs have gone down this year which included the earthquake of Chile as well as the explosion and sinking of an oil-drilling rig in the Gulf of Mexico in April.

Patni Computer Systems Limited is a provider of Information Technology services and business solutions. It was founded in 1978. It is listed among the ‘Best 20 Leaders in Financial Services (Insurance)’ in the 2010 Global Outsourcing 100, by IAOP. The Patni family owns 48.6% in the company, while global private equity firm General Atlantic Partners owns 16% in the company. Patni Computers’ promoters have invited fresh bids for the stake sale, which is likely to close by December 27. The promoters are open to a price of Rs 560 per share. iGate is the highest bidder so far.

The market researchers think that iGate beats the rival team of Carlyle in the bidding process and they will make an open offer for another 20% stake in Patni following the agreement. “The other thing that is going in favour of iGate is that it is not insisting on having a non-compete clause signed by the Patni brothers. This was something the PE consortium was insisting on,” said one of the bankers close to the deal. The iGate is based in Fremont, California with an operational headquarters in Pittsburgh, Pennsylvania. The accusation is thought to be helpful for both the IT service providers. Shares of Patni has gone up 1.74 per cent after this observation has made.

But Viacom did buy Harmonix in a swelling market. Viacom bought Harmonix for $175 million in 2006, amidst explosive demand for Rock Band and rival music game Guitar Hero. Harmonix invented Guitar Hero but sold the game to Activision Blizzard Incorporation. In 2007, Rock Band’s profits were so high that Viacom paid a $150 million bonus to Harmonix shareholders. The market of Rock Band peaked in 2008, as revenues from all music games hit $1.7 billion. But due to the sluggish economy, the game market crunched. Even last year’s version of Rock Band based on the music of the Beatles sold way below expectations.

“I think that they just realized that the music genre is fading and they don’t want to feed more money into a genre that’s on the decline,’’ said Michael Pachter, a game industry analyst. He also said, “It grew faster than anybody expected, and it shrank faster than anybody expected.’’ Harmonix spokesman John Drake said the company was “returning to our roots as an independent and privately owned studio.’’ He said that Harmonix would continue to support its existing game titles as well as will continue to publish new songs, which can be downloaded from the Internet and added to the games.

Initially the first Koenigsegg Agera was introduced at the 2010 Geneva Motor Show in March. This super car is now displaying for sale at the Koenigsegg showroom in Abu Dhabi. The car has already bagged Top Gear’s 2010 Hypercar of the Year. The car is designed by Christian von Koenigsegg. It is a two-door, two seater with removable hardtop stowable under the front hood lid. The body of the car is made from pre-impregnated carbon fiber or Kevlar and lightweight sandwich reinforcements.

But the most notable feature of this 1280 kg super car is its engine that generates an output of 910bhp at 6500 rpm, already 104bhp more than the previous CCX models. Koenigsegg Agera comes with a warranty of two years. The interior of the car is fully customized. The tires are from Michelin designed especially for this super cars. Agera is equipped with Dual Airbags, detachable hardtop with glass roof, climate control, digital warning and info system, G sensor and tire monitoring system. The car will cost about € 780.000 excluding taxes.

The move to invest in foreign markets is a business necessity for the company. The company has a much better chance of growing its revenue in a developing market like China than in the markets back home as the market is almost saturated there. Pepsico CEO, Indira Nooyi said that investments in emerging markets do not show returns in a single quarter but are profitable in the long run. Moreover, the company is spending with a view of increasing its presence in Russia, India and China among other places. Pepsico and rival companies have been eying the international market, which has better prospects in terms of growth and revenue.

The company is said to be creating a global nutrition group. The group will develop products with fruits, vegetables, dairy and grain. The company has been making an effort to move towards more healthy products. The Chicago based division will be run by Mehmood Khan, their chief scientific officer. The reinvestment being made by the company are higher than usual but will supposedly help the company in creasing its profit and make a firm hold in the emerging markets.

In recent times the buyers have shifted to herbal teas and juices and the sales of soda based drinks has taken a nosedive. PepsiCo is also spending a lot of money in advertising to change the perception of the users about the so called soda drinks. New TV ads on the drink are going to hit the small screen soon said the company. The company has also changed the label of the drink ad is leaving no stone unturned to convince the buyers that it indeed is a healthier drink.

The company also wants to stave off the competition from rival Coca Cola which has also taken intiative to launch healthy drinks in recent times. It is planning big for Sierra Mist.

Irene Rosenfeld who was on number six in the list last year is ahead of personalities like Oprah Winfrey and Indira Nooyi, the CEO of a rival company. Irene Rosenfeld has been in the spotlight lately for a variety of reasons. Last year she was voted to be the second highest income earner among females in United States. Earlier this year her $19 billion takeover of Cadbury brought her in a clash with Warren Buffet. Warren Buffet, voted as the second richest man in the world by Forbes, is reported to have openly criticized the Cadbury deal. Warren Buffet sold a third of his 9.4% stake in the company, but it did not stop Irene Rosenfeld to go ahead as planned.The revenue of the company grew by 25.3 % as a result of the deal.

When asked how it felt to be voted as the second most powerful woman in the world, Irene Rosenfeld said that she does not think much about designations, she is more focused on ensuring that the business delivers but if there is a list, it is nice to be on it.

Leo Apotheker is the former CEO of SAP AG and he served the position in his former company from April 2008 to February 2010. The newly appointed CEO of HP said that HP has a powerful mix of “business, products and services”. He called it is as one of the most “innovative cultures” in the “industry” and with an “accomplished management team” Hewlett-Packard Company has played an important role in its success. The former CEO of SAP AG said that he is honored to be a part of the US technology giant and also to be able to join more than 300,000 “dedicated” employees of the company.

In his statement Leo Apotheker also promised that he would give equal importance to efficiency and growth of the company as both are absolute necessities. Along with Leo Apotheker, the former Oracle executive Ray lane is also appointed as the non-executive chairman of HP. Robert Ryan said that both appointments will come into effect from November 1, 2010. On August 6, 2010, the Mark Hurd was forced to resign from his post as he filed the inaccurate expense report.