Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

Daiichi Sankyo says it was misled over Ranbaxy U.S. probes

Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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UPDATE 1-Nokia to cut over 1,000 IT jobs

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Thu Jan 17, 2013 2:44pm IST

(Adds background on job cuts, share move)

HELSINKI Jan 17 (Reuters) - Finnish mobile phone maker Nokia said it would cut over 1,000 information technology jobs as part of its restructuring plan aimed at stanching its cash bleed.

It said 820 employees will transfer to HCL Technologies and Tata Consultancy Services while 300 jobs will be elminated altogether.

The latest cuts, mostly in Finland, are part of plans announced last June to cut 10,000 jobs gobally. The company has cut around a third of its workforce under Chief Executive Stephen Elop.

Once the world's biggest mobile phone maker, Nokia has fallen behind Apple's iPhone and Samsung's Galaxy phones in the lucrative smartphone market.

Nokia shares were flat, while HCL shares rose 4.8 percent and Tata Consultancy shares rose 1.2 percent in Mumbai. (Reporting by Terhi Kinnunen and Ritsuko Ando; Editing by Hans-Juergen Peters)
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