Mondadori deal
Mondadori, of Italy, will buy Emap’s French magazine assets for €545 million (£372 million), making it the third-largest magazine publisher in France. Mondadori, which is controlled by the family of Silvio Berlusconi, the former Italian prime minister, said in a statement that the acquisition price equalled 9.2 times the earnings before interest tax, depreciation and amortisation.
Novartis recall
Novartis Consumer Health, a unit of the Swiss pharmaceutical company Novartis AG, said that it was voluntarily recalling its Triaminic Vapor Patch in the United States owing to serious health effects that could occur if the product is ingested by a child who removes it and chews on it. The company said there have been multiple reported complaints received, including reports of seizures.
Boeing to invest
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Boeing is to invest $105 million (£57 million) in its operations in Delaware County, Pennsylvania, over the next three years. The investment will create 350 jobs. Boeing is modernising its manufacturing plant and investing in new equipment to accommodate demand for the V22 Osprey military aircraft, after the Pentagon’s recommendation last year that the company begin full production.
Siberian venture
Gazprom, the Russian gas company, and Royal Dutch Shell, are considering the construction of a gas-to-liquids plant in Siberia in a project that could be worth between $7 billion (£3.8 billion) and $8 billion. Shell confirmed that it had entered talks with Gazprom, but said that discussions were at an early stage and declined to put a value on the project.