Boeing has blamed supplier issues and problems with assembly for the latest delays to the launch of its 787 Dreamliner. The first customer, All Nippon Airways, was expected to receive the newly designed plane in early 2009. This date has been put back until at least the third quarter of 2009. There is then the small matter of another 800+ planes to be built so that Boeing can fulfil its current order book. (more…)

Amidst worsening conditions on the high street (yes January and February was a blip), retailers are in negotiations with landlords to defer rental payments as in store spending slides.

Whilst landlords might try and play hardball, they are aware that an outright refusal could result in having no tenants at all. Indeed void space is growing as a percentage of income and rose to 6.5% in February 2008 from 5.9% at the same time last year.

Insurer Friends Provident has put up its wealth management business, Lombard, up for sale. There are a mix of insurers and private equity firms thought to be interested in the business, with French insurer La Mondiale, thought to be the front runner.

The sale, represents the latest in a line of attempts to takeover all or part of Friends Provident. JC Flowers, the prive equity firm, is still interested in Friends as a whole. Friends’ 53% stake in Foreign & Colonial asset management is still up for sale but isn’t shifting and now Towergate is thought to be interested in Pantheon, its intermediary business.

British Energy, the nuclear generator, is proving to be a popular takeover target or partner as it courts five potential suitors. Centrica, EDF, RWE, Eon and Iberdrola are all taking an interest in British Energy as the UK Government looks to relieve itself of its 35% stake in the company. (more…)

Ford has finally sold Jaguar and Land Rover to Tata in a deal worth £1.15bn. Land Rover has remained profitable throughout its ownership by Ford, however Jaguar has never made a positive return on investment. The proceeds amount to about half of what Ford paid for the marques, suggesting the purchase was not the best move Ford ever made. Ford will now focus on its currently loss-making business in the US. (more…)

Shire Pharmaceuticals (SHP.L) rose 47p (4.98%) to 990p amid speculation that Pfizer, the US drug giant is considering a £13 a share offer. The mid-cap company is likely to be the centre of such speculation from larger competitors as the sector looks to consolidate. Indeed GSK and AZ are also rumoured to have been interested in Shire.

Shire has developed well regarded drugs, with its Human Genetic Therapies (HGT) franchise expected to provide nearly 30% of its sales revenue by 2011. Such an earnings stream will bolster any suitors income.

Reckitt Benckiser allegedly had secret plans “Project Eric” that would enable it to maintain a monopoly on the supply of Gaviscon, the heartburn medicine. The aim was to prolong the period before competitors could produce a generic version of Gaviscon when the drugs patent ran out.

A former executive at Reckitt declared the company had cheated the NHS, adding that if a generic version of Gaviscon had been available, it could have saved the NHS over £40m per year. Whilst not illegal, these underhand tactics are at the expense of the taxpayer.