Citigroup’s Pandit receives $15m

9 November 2012 Last updated at 18:51 ETFormer Citigroup chief executive Vikram Pandit, who stood down last month, will get more than $ 15m (£9.4m) as part of a settlement with the banking giant. John Havens, the chief operating officer who resigned at the same time, will receive a similar amount.The payments were disclosed...

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Exclusive: Google Ventures beefs up fund size to $300 million a year

SAN FRANCISCO (Reuters) – Google will increase the cash it allocates to its venture-capital arm to up to $ 300 million a year from $ 200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which...

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UK’s NICE rejects Novartis asthma drug in change of tack

LONDON (Reuters) – Britain‘s health cost-effectiveness watchdog NICE plans to recommend against the use of Novartis‘s severe asthma drug Xolair, or omalizumab, after earlier endorsing it for adults only.The National Institute for Health and Clinical Excellence (NICE), which decides if medicines should be given on the state health service, said on Friday...

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AMR avoids investigation into $2.26 billion debt deals

NEW YORK (Reuters) – Hedge fund Marathon Asset Management has withdrawn a request for an independent investigator to examine the books of American Airlines, a unit of bankrupt AMR Corp, lawyers for the companies said at a hearing on Thursday.The move came after AMR agreed to preserve potential clawback claims relating to debt deals, struck between Marathon...

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Myanmar says Obama to visit later this month

YANGON, Myanmar (AP) — President Barack Obama will make a groundbreaking visit later this month to Myanmar, an official said Thursday, following through with his policy of rapprochement to encourage democracy in the Southeast Asian nation.The Myanmar official speaking from the capital, Naypyitaw, said Thursday that security for a visit on Nov. 18 or 19...

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Election night TV audience down from 2008: Nielsen data

LOS ANGELES (Reuters) – Tuesday’s presidential election may have been too close to call for weeks, but it didn’t pull in as many TV viewers as four years ago.More than 66.8 million Americans watched coverage of the 2012 elections during prime time on Tuesday, according to final Nielsen data on Wednesday. That’s down from the 71.5 million who tuned in to...

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Death of the cassette tape much exaggerated

LONDON (Reuters) – The widening gap between the amount of data the world produces and our capacity to store it is giving a new lease of life to the humble cassette tape.Although consumers have abandoned the audio cassette in favor of the ubiquitous iPod, organizations with large amounts of data, from patient records to capacity-hungry video archives, have...

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Organ on a chip? Scientists test drugs on tiny, artificial lung

CHICAGO (Reuters) – U.S. researchers have begun testing drugs using a microchip lined with living cells that replicates many of the features of a human lung, a technology that may one day help improve drug testing and reduce researchers’ dependence on animal studies.In 2010, researchers at Harvard’s Wyss Institute for Biologically Inspired Engineering...

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Merkel says Germany, Britain must work together on EU

LONDON (Reuters) – Germany and Britain must cooperate to work round their differences on the European Union‘s long-term spending plans, German Chancellor Angela Merkel said on Wednesday.“Despite differences that we have it is very important for me that the UK and Germany work together,” Merkel said through a translator before a meeting in London with Prime...

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Euro growth forecast hits markets

7 November 2012 Last updated at 17:31 ETContinue reading the main story The European Commission has cut sharply its growth forecast for the eurozone, warning that the “difficult process of rebalancing will last for some time”.It now projects the bloc will narrowly avoid recession next year, growing by 0.1%, compared...

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