Mark & Spencer reported decrease in its yearly profits to their lowest level in four years following decline in clothing sales. In the next three years near 37.5% or 3.49 trillion yuan ($554 billion) of the bank loans in China are maturing, commented Shang Fulin, Chairman of China Banking Regulatory Commission. World’s second largest operator Vodafone announced its quarterly results. Today Asian stock markets declined following news from US Fed and its future monetary policy.

 

Actavis announced the acquisition of its Dublin-based competitor Warner Chilcott for $5 billion, which will turn it into world’s third biggest generic drug company by market share, reported Financial Times. 

 

The total amount of the deal is $8.5 billion including net debt as well. In the recent months other pharmaceutical giants like Valeant and Mylan made attempts to acquire Actavis as part of the trend of rapid consolidation in the industry. 

 

The policy of world’s largest economies of quantitative easing that is purposed to stimulate the fragile market has now started raising questions and concerns over whether it will actually prove successful over the long-term. 

 

Insurance companies in China are struggling to retain its revenue levels despite weaker market by improving their services. According to research agency International Data Corporation, India PC shipments have increased by 7.5% to 2.71 million units in Q1 of 2013. Bird flu that appeared earlier in March this year has caused losses to the poultry industry reaching 40 billion yuan, or $6.25 billion. Near 8,000 French families have paid tax bills above 100% on their income in 2012.

 

Web giant Yahoo announced its purchase of the portal Tumblr for $1 billion, reported Financial Times. 

The deal is one of the first moves of Yahoo’s CEO Marissa Mayer in the expansion of the company and part of her attempts to bring back life to weaker performing Yahoo in the last couple of years. 

 

Mark Wilson, newly appointed CEO of insurer Aviva has announced that the company will reduce its expenses above the originally stated figure of £400 million, reported Financial Times. 

 

Recently the British insurer also cut its shareholders dividends. Yet despite the not so optimistic news, company shares raised by 7.2% following Mr Wilson’s speech on which added that there was “no doubt” that Aviva will manage to additionally decrease its costs. 

 

Raising consumer demand has helped organic food to increase its share in the food market in the US. Shares of JM Financial increased by 17% in morning trade, following the announcement that former Citigroup CEO Vikram Pandit will acquire stake at the company. A new £2 million startups incubators has been launched in the UK that is purposed to support northern businesses. Leading Chinese media company Sina Co has reported 126 million yuan ($20.3 million) of net revenue in Q1.

 

The attempt of the Chancellor of the Exchequer, George Osborne to cut £11.5 billion from public spending might not be approved by the Parliament, as ministers defined that only £2.5 billion of the decrease will took effect on their budgets, reported Financial Times.  

 

As it became clear Janet Yellen is one of the nominated for the position of the next head of the US Federal Reserve, reported Financial Times.