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Britain requires further monetary easing to aid the economy and Chancellor of the Exchequer George Osborne should prepare for temporary tax cuts, the International Monetary Fund said.

With the economy mired in its first double-dip recession since the 1970s, the Bank of England and the Treasury should introduce policies to underpin demand and unclog the financial system, the Washington-based lender said in its annual review of the U.K. published today. The central bank needs to inject further stimulus through bond purchases or by cutting interest rates, with tax cuts following as soon as the fall, it said.

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Avon says it’s considering a sweetened buyout offer of almost $10.7 billion from Coty Inc.

Avon says that it expects to respond to the new offer within a week. The offer was made in a letter on May 9.

Coty sweetened its 2-month-old offer by about 6.5 percent to $24.75 per share and demanded a response from Avon by Monday.

Coty indicated that Avon has said it wouldn’t review any bid until its brand new CEO, Sherilyn McCoy, finishes reviewing all of Avon’s operations instant payday loan.

Coty’s financing sources include Warren Buffett’s Berkshire Hathaway Inc., German holding company Joh. A. Benckiser GmbH, which controls Coty, and BOT Capital Partners.

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In late June, after three years of planning, the Helix Center will open, providing lab space and offices to start-up technology, life and plant sciences companies.

The development of the $7.5 million business incubator was shepherded by Beth Noonan, of the St. Louis County Economic Council, who will also oversee operations after the center opens its doors. With low-rent shared labs and flexible office space, the center could be home to as many as 30 fledgling companies. Its proximity to the Donald Danforth Plant Science Center, where very early-stage research is done, and the Bio-Research & Development Growth (BRDG) Park, where more established enterprises find homes, is by design. The center is the latest addition to the region’s bioscience belt and the fifth incubator developed by the council.

How did the project begin and where do things stand now?

The genesis came about when we were approached by some folks from the Danforth Center and Nidus (an entrepreneur network based next door). Their focus was changing. We have the research and the science at the Danforth Center, and BRDG is a post-incubator space, so there emerged this gap in terms of affordable space for companies in the county. We were a natural fit because we run an incubator program. This is just a specialized version. The construction is not quite completed, but we should be done in June. We’ll have 8,000 square feet of office space, 7,800 of lab space.

What’s the objective?

The bottom-line goal of any incubator is to really provide that first commercial space for early-stage companies at an affordable price, and to provide them with shared resources and amenities, and access to other entrepreneurs. They all function in the same way. But in terms of the Helix Center it provides specialized lab space and specialized equipment that early-stage technologies wouldn’t have access to. I think what’s unique about Helix is the close proximity to the specialized resources nearby.

What kind of company do you see finding a home at the Helix Center?

The kind of tenants we’re looking for are folks who are in the bioscience space, which is broadly defined: plant science, life science, clean technology. We’d like to have some nexus to the biosciences. It’s not necessarily something that finds the next drug for cancer, but a support company. A contract research company or doing something with medical records related to biosciences.

How do you go about finding these companies?

We’re doing quite a few things. We’re going to places where start-up companies gather to inform them of the space. We’re getting close to finishing our web site. I’ve been doing speaking engagements. A lot. Our goal is to provide space to companies that are growing in St. Louis. The most likely source of our tenants will be St. Louis.

What ensures that they stay here after they “graduate?”

Of course, we can’t force people to stay in St. Louis. But I think what we’re trying to do with Helix and what a lot of folks in the region are doing, is help continue strengthening the environment for entrepreneurs and making sure people have access to resources. We have early-stage companies here all the way up to Fortune 500 companies. We can help them make those connections. We have other resources to help them as we grow.

BETH NOONAN

Title • Vice President bio-sciences and technology, business development division, St. Louis County Economic Council.

Education • BA in Linguistics, Brown University, masters degrees in social work and jurisprudence, Washington University

Family • Husband, Frank Pfau; two children, Emily, 12, and Michael, 9.

Hometown • Chesterfield

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World powers share a “profound concern” that Syria is descending into civil war but have pledged to deploy 300 cease-fire monitors there by the end of the month, international envoy Kofi Annan said Tuesday. He warned, however, that the world can’t wait forever for the truce to work.

Annan said in Geneva that there has been “a spate of bombings that are really worrying” and that the U.N.’s cease-fire-monitoring mission “is the only remaining chance to stabilize the country.”

“There is a profound concern that the country could otherwise descend into full civil war, and the implications of that are frightening,” he said. “We cannot allow that to happen.”

Annan spoke to reporters after briefing the U.N. Security Council by videoconference from Geneva, where he warned that failure to prevent a civil war “will not only affect Syria, it will have an impact on the whole region.”

Annan said he also told the Security Council that “unacceptable levels of violence and abuse” are continuing in Syria _ that government troops are still present in and around cities and towns and human rights violations are extensive and may be increasing.

“There have been worrying episodes of violence by the government, but we have also seen attacks against government forces, troops and installations. And there have been a spate of bombings that are really worrying and I’m sure creates incredible insecurity among the civilian population,” he said paydayloans.

He said there has been “some decrease in the military activities, but there are still serious violations in the cessation of violence that was agreed and the level of violence and abuses are unacceptable,” he said.

Annan warned that his six-point peace plan aimed at halting the fighting and initiating political talks to end the 14-month conflict is not an open-ended one. The Security Council has endorsed Annan’s plan and authorized 300 unarmed military observers to monitor actions by Syrian President Bashar Assad’s regime and opposition for three months.

The fighting between the two sides is estimated to have killed more than 9,000 people.

“We may well conclude down the line that it doesn’t work and a different tack has to be taken, and that will be a very sad day, and a tough day for the region,” he said.

Yet, he also tried to sound a note of optimism.

“We’ve been small in numbers, but even where we’ve been able to place two or three observers, they’ve had a calming effect,” he said. “And I think that when they are fully deployed and working as a team, establishing relations with the people, we will see much greater impact on the work that they are there to do.”

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Stocks opened lower on Wall Street Monday on news that Spain’s economy entered another recession.

The Dow Jones industrial average slipped 34 points to 13,193 in the first half-hour of trading. The Standard & Poor’s 500 index fell eight points to 1,395 and the Nasdaq composite fell 21 points to 3,048.

Stocks were also being held back by a report from the Commerce Department that consumer spending growth slowed in the U.S. last month. That added to worries that the U.S. economy recovery is slowing down.

The losses were broad. Nine of the ten industry groups in the S&P 500 fell, led by materials. Only health care stocks rose. The dollar rose against the euro and the prices of U.S. Treasury bonds increased as investors parked money in low-risk assets.

European markets were mainly lower over growing concerns about Spain. Stocks were off nearly 1.3 percent in Spain and France.

The Spanish government said that country’s economy shrank 0.3 percent in the first three months of the year, the second straight three-month period of contraction. It’s the second time in three years that Spain has been in a recession.

Ratings agency Standard & Poor’s downgraded Spain’s government debt to just three notches above junk Friday. On Monday S&P lowered its rating for 11 Spanish banks, which are loaded with bad debt from a collapsed housing market. Spain is the fourth-largest economy among the 17 countries that use the euro online payday advance. Investors worry that Europe’s bailout funds won’t be big enough to rescue Spain if it needs help.

Stocks to watch include Barnes & Noble, which is teaming up with Microsoft to create a unit to house the digital and college businesses of the bookseller and include a Nook application for Windows 8. The companies said they may separate those businesses entirely. That could mean a stock offering, sale, or some other kind of deal.

Barnes & Noble jumped 62 percent to $22.26 in early trading. Microsoft was flat.

Health insurer Humana fell 6 percent to $82.44 after reporting a 21 percent drop in first-quarter profit as the company paid out more in claims, falling short of Wall Street expectations.

NYSE Euronext, owner of the New York Stock Exchange, fell 4 percent to $25.95 after reporting that its income plunged 44 percent in the first three months of the because of weaker trading business and the collapse of its proposed merger with the European exchange operator Deutsche Boerse.

Sunoco jumped 21 percent to $49.30, the most of any stock in the S&P 500, on news that the company agreed to be bought by Energy Transfer Partners, a natural gas pipeline company, for $5.3 billion.

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Advocates for ex-offenders are hailing an Equal Employment Opportunity Commission report they hope will improve job opportunities for individuals often turned away because of criminal histories.

The EEOC, in an “enforcement guidance” issued last week, ruled that  undue emphasis on an ex-offender’s background in some some instances violates federal statutes governing employment discrimination. 

The EEOC said the specter of discrimination becomes even more pronounced when hiring managers factor race or ethnicity into employment decisions.

Citing studies reflecting a felony conviction rate of African American men that tops 25 percent, the National Employment Law Project welcomed the new guidelines as an antidote to what it termed “especially severe” discrimination against ex-offenders of color.

Michael Holmes, executive director of the St. Louis Agency on Training and Employment (SLATE), says the obstacles encountered by individuals with a criminal backgrounds cuts across racial lines.

“We have a major public institutions that discriminate against both white and black people because they have a criminal record,” said Holmes. “Now they can’t use that as a way to eliminate (an ex-offender) with the skills they are looking for.”

The ruling could give a boost to thousands – by some estimates up to 18,000 - ex-offenders in the St. Louis region who are currently-out-of-work and searching for employment.

“Some businesses do have a blanket policy about not hiring ex-offenders,” said David Kessel, chief operating officer of the Employment Connection, a St. Louis non-profit that helps ex-offenders overcome job barriers. “(The EEOC) guidance gives employers clarification on what they should be doing to make better hiring decisions.”

Kessel believes the unemployment rate for ex-offenders in the St. Louis area runs as high as 75 percent.

The EEOC guidelines were not universally acclaimed.

The National Retail Federation criticized a recommendation that employers eliminate queries about criminal and arrest records on application forms.

A ban on the “box” that alerts a company of an an applicant’s brushes with the law will restrict an “employers’ ability to ensure the safety of their workers and customers,”  Senior Vice President for Government Relations David French said in a statement.

A 2011 NRF survey revealed that 87 percent of its members turn to criminal background checks prior to hiring bad credit personal loan lenders.

Les Johnson, the vice president for grant and management services for ARCHS, an advocate that sponsors programs that support at-risk populations including ex-offenders, praised the EEOC initiative.

But he cautioned the hiring process will continue to require discretion and common sense on the part of applicants with criminal records.

A paroled bank robber, for instance, needs to make a better choice than seeking employment with a financial institution. Just as a convicted drug offender may want to steer clear of opportunities at a pharmacy.

“We’ve always said that a criminal record should not be the sole qualification for an (ex-offender) applying for a job as fork lift driver at a warehouse producing pallets,” Johnson said. “But we also ask ex-offenders to take responsibility on the front end, explain to the employer what the offense (entailed), that time has been served, amends have been made and that they are now trying to earn a decent wage.”

The EEOC report also points employers to the difference between a conviction and arrest.

“The fact of an arrest does not establish that criminal conduct has occurred, and an exclusion based on an arrest, in itself, is not job related and consistent with business necessity,” the EEOC said.

Holmes questioned why ex-offenders have a particularly difficult time landing job offers from governmental institutions.

He understands why a local or state government office would want to avoid public backlash over tax-payer supported salaries going to people with criminal records.

But points out that many of those same institutions welcome state and federal funds for job training.

“You’re taking training money, but not hiring ex-offenders? That’s crazy,” Holmes said.

Companies that stiff-arm ex-offenders, he added, need to take responsibility for contributing to a vicious cycle.

“In prison, they get three meals a day, healthcare and a roof over their head and when they get out they don’t have any money. If they can’t provide for themselves, they’re going do what they know in order to survive and go back to crime rather than starve to death,” Holmes said. “If you do your time, and you’re qualified for a job, then you should be given another chance.”

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WASHINGTON

Biotech firm Human Genome Sciences announced Thursday that it had rejected a takeover bid from pharmaceutical giant GlaxoSmithKline that valued it at just over 80% of its closing price Wednesday.

HGS () said the offer — at $13 per share, or $2.6 billion — "does not reflect the value inherent" in the company. It added, however, that it was reviewing "strategic alternatives" including the possible sale of the company, and that Glaxo () had been invited to participate in the process.

HGS shares jumped on the news, opening at $14.21, nearly double Wednesday’s closing price of $7.17.

Glaxo CEO Andrew Witty said in a statement that his firm was "disappointed that Human Genome Sciences has rejected our offer without discussion and are confident that our offer is in the best interest of shareholders of both companies."

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The two firms, Witty noted, have collaborated for nearly 20 years, including on the lupus drug Benlysta, a joint venture.

HGS shares traded around $30 just a year ago, but have dropped sharply since then as the company has reported heavy losses. In February, HGS reported a net loss for 2011 of $381 million.

The announcement comes a day after Swiss pharmaceutical company Roche () announced that it was abandoning its bid for U.S. biotech firm Illumina ().

HGS has attracted controversy in the past with its attempts to patent genetic sequences, which have raised questions about whether such information can be subject to intellectual property laws. 

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In a case that affects thousands of businesses and millions of workers, the California Supreme Court ruled Thursday that employers are under no obligation to ensure that workers take legally mandated lunch and rest breaks

The unanimous opinion came after workers’ attorneys argued that abuses are routine and widespread when companies aren’t required to issue direct orders to take the breaks. They claimed employers take advantage of workers who don’t want to leave colleagues during busy times.

The case was initially filed nine years ago against Brinker International, the parent company of Chili’s and other eateries, by restaurant workers complaining of missed breaks in violation of California labor law.

But the high court sided with businesses when it ruled that requiring companies to order breaks is unmanageable and those decisions should be left to workers.

The opinion written by Associate Justice Kathryn Werdegar explained that state law does not compel an employer to ensure employees cease all work during meal periods, instead saying the employee is at liberty to use the time as they choose.

“The employer is not obligated to police meal breaks and ensure no work thereafter is performed,” Werdegar wrote.

The court’s decision could greatly reduce the numerous class-action lawsuits surrounding the issue that cost companies millions of dollars in legal costs.

“The courts are making it clear that you have to create a system and a procedure that fully allows employees an opportunity to take breaks and meal periods, and if they do that they do not have to be Big Brother and individually monitor each employee to ensure that they’ve taken every bit of their breaks,” said Steve Hirschfeld, founder and CEO of the Employment Law Alliance, an employer-side legal trade group.

Attorneys for workers said low-wage workers such as those at Chili’s and other restaurants face unique issues that dissuade them from requesting meal and rest periods.

“The decision … should have required employers to take affirmative steps to provide meal periods, and not just adopt policies that allow them,” Fernando Flores of the Legal Aid Society-Employment Law Center, said in a statement.

“The (court) previously held that employees who are denied their rest and meal periods face greater risk of work-related accidents _ especially low-wage workers who engage in manual labor,” Flores said.

The Brinker decision doesn’t account for the public health and general welfare argument and weakens these standards for millions of low-wage workers across California, he added.

State law has mandated meal and rest breaks for decades. But in 2001, California became one of only a few states that impose a monetary penalty for employers who violate these laws, requiring employers to pay one hour of wages for a missed half-hour meal break. There is no federal law requiring employers to provide such breaks.

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British ministers say a ban on displaying packs of cigarettes inside supermarkets and other large stores will send a message that smoking is no longer acceptable.

Health Secretary Andrew Lansley said Friday _ as the restrictions came into force _ that the ban would show that Britons “no longer see smoking as a part of life.”

The ban applies only in England and will be extended to smaller stores by 2015. It means cigarettes must be hidden behind screens, or under shop counters fast cash now.

England is following the lead of Iceland, Ireland, and Canada, all of which previously introduced similar measures.

A ban on smoking indoors in public places, such as pubs, was introduced in Scotland in 2006 and in England in 2007.

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