Profitloss Centerstage Events

A committee sponsored by the U.K. government has recommended easing restrictions on medical research that uses cloned embryonic stem cells takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 2

Chiron Corp. announces its acquisition of PathoGenesis Corp. for $700...

Chiron Corp. announces its acquisition of PathoGenesis Corp. for $700 million. This deal will allow Chiron to expand its portfolio of biopharmaceutical products and improve its research-and-development efforts for new drug therapies for infectious diseases. Chiron, based in Emeryville, California, is already involved in blood-testing and produces drug treatments for cancer, multiple sclerosis, ulcers, and vaccines for infectious diseases. Seattle-based PathoGenesis is known for its drug Tobi, which is used to treat lung infections associated with cystic fibrosis.

Monday, 14 August, 2000

Petroleo Brasileiro, also known as Petrobras and controlled by the...

Petroleo Brasileiro, also known as Petrobras and controlled by the Brazilian state, announces that it has achieved a profit of 4.51 billion reals ($2.5 billion) for the first half of the year. This is in contrast to a loss of 1.03 billion reals in the previous year. The company's revenue also doubled, reaching 19.75 billion reals, while its operating profit amounted to 6.96 billion reals, compared to a loss of 1.78 billion reals in the previous year. Petrobras also revealed that its profit on a consolidated basis was 4.5 billion reals, consolidated revenue totaled 22.2 billion reals, and operating profit was 6.9 billion reals.

Tuesday, 15 August, 2000

A committee sponsored by the U.K. government has recommended easing...

A committee sponsored by the U.K. government has recommended easing restrictions on medical research that uses cloned embryonic stem cells as potential treatments for major diseases such as diabetes. If the proposals are approved by the British Parliament later this year, they would provide a big boost for European drug and biotechnology companies involved in regenerative medicine. Stem cells have two special qualities they can make unlimited copies of themselves, and they can develop all cells and tissues in the body. In recent years, scientists have made major advances in collecting stem cells and deciphering the complex chemical signals that control how the cells differentiate into specific cells and tissues. There is growing optimism that stem cells can generate replacement cells and tissues to treat afflictions ranging from diabetes and Parkinson's disease to severe burns and spinal injuries.

Wednesday, 16 August, 2000

The Labor Department reports that the number of Americans filing...

The Labor Department reports that the number of Americans filing first-time claims for unemployment benefits has risen above 300,000 for the first time since mid-July, signaling potential softness in the tight U.S. labor market. Jobless claims have risen for a third week in a row, increasing by 14,000 to 313,000 in the week ended Aug. 12. This surpasses the 300,000-mark, which is considered to indicate extremely tight labor markets.

Thursday, 17 August, 2000

The President, Ms. Chandrika Kumaratunga of Sri Lanka, issued the...

The President, Ms. Chandrika Kumaratunga of Sri Lanka, issued the order to dissolve the 225-seat House starting from midnight on Friday, as per the Government statement. The six-year term of the Parliament was supposed to end next week. This move is seen as an effort by the President to consolidate power and gain a parliamentary majority. The upcoming election is expected to be closely contested between the ruling party and the opposition party and is to be held on 10 October.

Friday, 18 August, 2000

Crude-oil prices bounce back to the $32-a-barrel level, reflecting tight...

Crude-oil prices bounce back to the $32-a-barrel level, reflecting tight world supplies. Heating oil and natural-gas prices are raising, which could push home heating bills up sharply this winter. Meanwhile, consumer prices rise a modest 0.2% in July, while industrial output leaps 0.4%, due mostly to the production of high-tech items.

Saturday, 19 August, 2000

The Singaporean government has announced that it will provide "baby...

The Singaporean government has announced that it will provide "baby bonuses" to its citizens due to concerns about the country's declining birth rate. For the birth of a second child, parents will receive up to 1,500 Singapore dollars (US$872) per year for six years, and for a third child, they will receive twice as much.

Sunday, 20 August, 2000