Investec sells $10M property
Investec Real Estate Companies announced Oct. 27 that it has sold a 12-acre residential property in Carpinteria to a developer who plans to build 73 homes there next year. The property, which is part of the Lagunitas mixed-use development, sold for $10 million, Investec said. Investec will keep the 13-acre office portion of Lagunitas. The Read More →
U.S. should set inflation target, Fed economist says at UCSB
Setting the federal funds interest rate target at zero is a trap, and one the Federal Reserve would be better off avoiding, St. Louis Federal Reserve Economist Bill Gavin said at an Oct. 27 appearance at UC Santa Barbara. Warning of the dangers of the so-called “zero lower bound,” when the federal funds rate is Read More →
Amgen reports earnings drop
Thousand Oaks-based Amgen said Oct. 25 that third-quarter earnings fell 14 percent to $1.3 billion as revenue flatlined. Amgen is the world’s biggest biotech company and the largest private employer in the Tri-Counties. It reported adjusted earnings per share of $1.36, a decrease of 9 percent compared to the same quarter last year. Total revenue Read More →
UTC to buy rest of Clipper
United Technologies Corp., a multinational firm that owns nearly half of Carpinteria-based Clipper Windpower, has reached an agreement with Clipper to buy the rest of the turbine maker. UTC acquired 49.5 percent of Clipper in December in a deal that gave it the right to boost its stake to 55 percent in 2012 — or Read More →
FDA OKs Aranesp for pre-dialysis patients
Amgen’s anemia treatment Aranesp is safe for kidney patients whose disease doesn’t require dialysis, a federal panel announced Oct. 18 in response to a study that found the drug could increase stroke risk in those patients. Outside advisers to the U.S. Food and Drug Administration said the treatment shouldn’t be withdrawn or limited to a Read More →
