Britain’s competition authority has imposed a fine of £37.6m on GlaxoSmithKline for “illegal behavior” which resulted in higher costs for he NHS in relation to its antidepressant Seroxat.   In return for the generic drug makers delaying the launch of cheaper versions of the blockbuster...

Are banknotes of 500 euros, so popular among criminals, money launderers and tax evaders, close to disappear? Member of the Executive Board of the European Central Bank Benoit Cœuré said that arguments in favor of the 500 euros bill are "less and less convincing." "We are actively considering...

A bigger-than-expected quarterly loss gave an opportunity to the American International Group Inc to place billionaire John Paulson and its representative to the company board as it capitulated in its boardroom fight with activist investor Carl Icahn.   There was a marginal rise in the...

In its third attempt to buy the Swedish company, Generic drug maker Mylan NV said it would acquire Meda AB in a $7.2 billion cash-and-stock deal.   Mylan had unsuccessfully pursued for seven months to acquire smaller rival Perrigo and the recent move comes three months after the company...

Higher sales of snacks and beverages in North America helped reduce the impact of a strong dollar which helped PepsiCo Inc reported better-than-expected quarterly net revenue.   Pepsi said that it would return about $7 billion to shareholders this year among which about $3 billion would be...

Finnish telecom gear maker Nokia said it would not give a financial outlook until April following its acquisition of Alcatel-Lucent and warned that demand for new mobile networks would slow this year in China.   In a market where limited growth and tough competition are pressuring prices,...

Reversing a cost-cutting decision made less than two weeks ago, HSBC, Europe's largest bank, has dropped plans to freeze pay this year, according to a memo by Chief Executive Stuart Gulliver reports Reuters.   HSBC's board is set to meet to discuss whether the bank will move its headquarters...

As rivals sense an opportunity to get their hands on the asset as a result of the car maker's emissions scandal, Volkswagen has received expressions of interest for a unit making engines used in ships or small power stations, several sources familiar with the matter told media.   Sources...

In what came as a face blow to Facebook’s plan to offer free basic program to net users in India, the regulators in the country have banned free mobile data programs that favor some Internet services over others.   Facebook’s controversial Free Basics program, a signature project of...