BAE attacks EADS over Airbus warning
BAE Systems has accused EADS of deliberately trying to depress the value of the company in order to buy out BAE's 20-per cent stake in the European plane maker at a discount. EADS shares fell by more than 25 per cent yesterday, destroying €5.5bn (£3.8bn) from its market capitalisation after an announcement from Airbus that delays in the production of the A380 superjumbo would cut deliveries by two-thirds next year.

EADS, which owns 80 per cent of Airbus, calculated that the financial penalties it would now face from airline customers could reduce its operating profits by up to €500m a year for the 2007-10 period.

EADS shares fell 26 per cent to €18.73, valuing it at €15.4bn. The market price of EADS will be one of the main yardsticks in putting a valuation on Airbus as it accounts for virtually all of the company's profits.
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Bayer acquires Schering in €17-billion deal
German drugs company Bayer has acquired its Schering, the world's largest maker of contraceptive pills edging out Merck, whose offer for Schering was defeated.

Bayer will pay almost €17 billion (£12 billion) for Schering, €400 million over its original offer, because it was forced to buy shares at a higher price yesterday. Merck had built up a 21-per cent stake in Schering by buying shares in the market and earlier this year Merck made its own offer for Schering.

But yesterday Merck said it would sell its 21-per cent stake in Schering to Bayer for €89 a share. It said it would make a one-off gain of €400 millio from the €3.7 billion deal.

Despite having to pay a higher price, Bayer's shares climbed 8pc in Frankfurt. This is the biggest deal in Bayer's 142-year history and will create a healthcare group with sales of more than €15 billion a year.

Bayer is famous for inventing aspirin and for its prescription medication such as Cipro and Levitra, which is used to treat erectile dysfunction.
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Google to pay $319 million for buying headquarters
Google Inc. is buying its Silicon Valley headquarters for $319 million in a deal that covers company's cluster of buildings called as the "Googleplex." Google has purchased the complex from four commercial real estate companies and wants to close the sale by the end of the month.

Google began renting its current headquarters in 2003, and the property - located near a former garbage dump on nearly
1-million-square-foot area has turned into a wealthy enclave, thanks to Google's high-flying stock.

The company's shares, which closed Wednesday at $384.39 on the Nasdaq Stock Market, have more than quadrupled from their August 2004 initial public offering.
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