AMD - Dasaradha Gude appointed as MD India Operations

AMD has appointed Dasaradha 'GD' Gude as MD for its India operations. As the lead for AMD India R&D, his responsibilities include in-region development and management of AMD's broad and growing portfolio of consumer and commercial platforms and processors.

This change is part of AMD's recently announced decision to re-architect its business for sustained profitability. AMD's India engineering operations have now become part of the Central Engineering leadership team, recently created to direct the development and execution of AMD's technology and product roadmaps in partnership with AMD's business units. The Central Engineering team is co-led by engineering executives Chekib Akrout and Jeff VerHeul, both of whom report to Dirk Meyer, AMD president and CEO.

GD brings with him more than 25 years of experience in the Very Large Scale Integration (VLSI) domain, spanning various entrepreneurial roles and most recently as the managing director of the AMD R&D center, Hyderabad. In this role, he managed a team of engineers who delivered leading-edge technologies for AMD's graphics and consumer electronics businesses.


He was also instrumental in establishing AMD's 'Centre of Excellence for Audio Technology.'

Dasaradha Gude said, "AMD India has grown significantly since its inception and has turned out to be a critical contributor to the product roadmap of the company. The creation of a Centralized Engineering organization helps align and focus AMD's world-class engineers and intellectual property portfolio on the strong business opportunities in front of us. We look forward to taking our engineering activities in India to greater heights."

Tata Communications launched Work From Home Solution

Tata Communications has launched a new service that enables BPO employees to work from home. A press release said that the service will enable ITeS companies to give their employees the option to work from home, while not compromising on security issues.

The Tata Communications Work From Home solution is offered as an overlay on its IP-VPN/MPLS network.

"BPO employees are expected to benefit in terms of reduced travel time and being able to maintain a better work-life balance. Employers would gain by way of lower real estate and administrative costs and availability of alternative talent pools, for instance home-makers, to meet their staff and growth plans," said Sunil Joshi, president (Enterprise Business Unit) of Tata Communications.

GLOBAL MARKETS-Credit concerns hit stocks, high-yielding FX

* MSCI world equity index down 0.4 percent at 339.99

* Emerging market stocks, high-yielding currencies fall

* Japan GDP data, JPMorgan reinforce credit/economy concerns

By Natsuko Waki

LONDON, Aug 13 (Reuters) - Investors cut back on risky assets on Wednesday, dumping emerging market stocks and high-yielding currencies on global credit and economic concerns while the dollar stepped back from this week's six-month peak. The low-yielding yen rose across the board while oil prices climbed above $113 a barrel after hitting a three-month low on Tuesday.

Fresh data added to evidence that U.S. economic problems are spilling over to the rest of the world. Japan's economy contracted in the second quarter at the sharpest rate in seven years, reinforcing the view that the world's No. 2 economy has slipped into recession.

News that JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) has racked up $1.5 billion of losses so far this quarter on mortgage-linked assets and an outlook warning from Commonwealth Bank of Australia (CBA.AX: Quote, Profile, Research, Stock Buzz) reminded investors that the fallout from the year-old credit crisis is far from over.

"Credit fears are rising again after the news from JPMorgan ... With the fall on Wall Street overnight, that will weigh today," said Benoit De Broissia, analyst at Richelieu Finance in Paris.

Emerging stocks .MSCIEF fell to a one-year low of 976.25, underperforming their developed market counterparts, which fell 0.4 percent on the day, according to the MSCI main world equity index .MIWD00000PUS.

The FTSEurofirst 300 index fell 0.7 percent.

HIGH-YIELDING VICTIMS

The New Zealand dollar, which boasts the highest interest rate in the industrialised world, fell 2 percent to a two-year low near 74 yen while the Aussie also fell 2 percent to a four-month low near 93 yen .

The two currencies have been under pressure as expectations intensify that falling commodity prices will encourage central banks there to cut interest rates.

"With real policy rates in the region set to fall, both economies are likely to see a more protracted spell of high inflation, a risk that will be exacerbated if the trade term gains over the past years are to reverse course going forward," Simon Wong, economist at Standard Chartered, said in a note.

"Another challenge will come from potential adjustments in external balance in reaction to lower real returns on the region's financial assets that could undermine the supply of foreign funding to the domestic financial sectors."

The dollar was down 0.3 percent against a basket of major currencies .DXY, after hitting a six-month high on Tuesday.

Emerging sovereign spreads 11EMJ were steady.

The September Bund future FGBLU8 fell 5 ticks while two-year euro zone government bonds rose on concerns over the economy.

U.S. light crude CLc1 rose 0.8 percent to $113.92 a barrel, having fallen more than $30 from its record peak in July. Gold rose to $825.10 an ounce after hitting an eight-month low on Tuesday.

Source: www.reuters.com

Australia's CSL to buy Talecris for $3.1 billion

SYDNEY (Reuters) - Australia's CSL Ltd (CSL.AX: Quote, Profile, Research, Stock Buzz), the world's top maker of blood plasma products, is buying smaller U.S. rival Talecris Biotherapeutics Holdings Corp for $3.1 billion, to boost its presence in the fast-growing biopharmaceutical industry.

Talecris, which operates 56 plasma collection centers and two manufacturing facilities in the United States, is being sold by its private equity owners, Cerberus Partners and Ampersand Ventures.

"The price they are paying is probably a pretty full one, but CSL would be able to extract quite a few synergies," said Sean Fenton, a fund manager with Tribeca Investment Partners, which oversees about A$650 million ($571 million), including CSL shares.

Analysts said the deal would lift CSL's 2008/09 earnings per share by 10 percent, driven largely by cutting costs. The deal represents a price to core earnings multiple of 12.7, which fund managers said was fair, but CSL's scale of operations would enable it to extract cost savings.

"This is a highly accretive transaction, though there are some execution issues," UBS analyst Dan Hurren said.

CSL, which makes products out of blood plasma to treat immune deficiencies and blood disorders, like hemophilia, also reported a 30 percent rise in fiscal 2008 profit to A$702 million.

It also makes vaccines, like flu vaccine and licensed its cervical cancer vaccine to Merck & Co Inc (MRK.N: Quote, Profile, Research, Stock Buzz).

Talecris generated $1.2 billion sales for the year to end-June and earned core earnings of $258 million.

"The rationale for the deal is that CSL's operating margins are much better and they can take that business and drive up towards their margin," Fenton said.

ENHANCE DOMINANCE

CSL said the proposed deal, subject to regulatory approvals including from antitrust authorities, would enhance its position in the $15 billion global plasma products market. It would give CSL access to fast growing key plasma products such as Gamunex and Prolastin and expand its geographical presence.

The deal would also boost CSL's position against rivals Baxter International (BAX.N: Quote, Profile, Research, Stock Buzz), Spain's Grifols (GRLS.MC: Quote, Profile, Research, Stock Buzz) and privately-owned Swiss group Octapharma.

The global plasma therapies industry has grown at a compounded annual rate of 10 percent over the past decade, CSL said, as doctors look for new ways to treat bleeding disorders, infections and diseases. CSL expects the strong growth to continue.

"In a revenue sense, certainly 10 percent is not an unreasonable assumption with our current information," CSL Managing Director Brian McNamee told a briefing.

CSL plans to raise $1.5 billion through an institutional share placement to fund part of the deal, and would raise $1.6 billion in debt to complete the transaction.

McNamee said he anticipated support for the proposed equity raising, which was fully underwritten by Merrill Lynch.

CSL expects synergy benefits of about $225 million per annum, to be realized over three years. CSL shares were halted on Wednesday pending the announcement. The stock closed at A$39 on Tuesday, having gained nearly 29 percent over the past year. The new shares are being sold in a range of A$34.50-A$39.00 each, according to a term sheet seen by Reuters.

Source: http://www.reuters.com