(Reuters) - U.S. light crude for May delivery was down 9 cents at $64.29 a barrel by 0252 GMT after dropping 26 cents on Wednesday. The prompt-month U.S. contract was at a record discount to its London counterpart on a jump in U.S. crude inventories.
London Brent crude was up 10 cents at $68.50 a barrel after climbing 59 cents a day ago, still hovering near the $69.58 a barrel seven-month high it touched on Monday, when dealers feared a prolonged dispute over the Britons.
Read more at Reuters.com Hot Stocks News
Wednesday, April 4, 2007
UPDATE 1-Shaw delay results as petchem project costs jump
(Reuters) - There are indications the cost estimates could include additional charges of $7 million to $12 million; $4 million to $7 million, after taxes; or 5 to 9 cents per diluted share, and would result in a loss on the project of about the same amount.
The construction and engineering company believes that the estimated cost increases, if verified, may have been required to have been reported in the first quarter of fiscal 2007.
Read more at Reuters.com Market News
The construction and engineering company believes that the estimated cost increases, if verified, may have been required to have been reported in the first quarter of fiscal 2007.
Read more at Reuters.com Market News
UPDATE 2-Cemex approval paves way for next Rinker move
(Reuters) - The U.S. Justice Department said on Wednesday it would require Cemex to sell 39 U.S. facilities if it is successful in a bid for the Australian building materials maker.
Analysts say Cemex will have to increase its offer -- Australia's second-largest takeover bid -- to win over Rinker shareholders, but it had not been expected to make any move until its bid won approval from U.S. authorities.
Read more at Reuters.com Mergers News
Analysts say Cemex will have to increase its offer -- Australia's second-largest takeover bid -- to win over Rinker shareholders, but it had not been expected to make any move until its bid won approval from U.S. authorities.
Read more at Reuters.com Mergers News
UPDATE 1-Nintendo 06/07 sales, profit beat forecasts on DS
(Reuters) - Nintendo, which competes with Microsoft Corp. and Sony Corp. in the $30 billion video game industry, said its profits are also likely to have exceeded its prior projections, but it did not give specific figures.
The Kyoto-based company said it now expects a foreign exchange-related profit of 20 billion yen for the 2006/07 business year, rather than its previous forecast of a 10 billion yen loss.
Read more at Reuters.com Market News
The Kyoto-based company said it now expects a foreign exchange-related profit of 20 billion yen for the 2006/07 business year, rather than its previous forecast of a 10 billion yen loss.
Read more at Reuters.com Market News
TREASURIES-Bonds hold gains before jobs data
(Reuters) - Dealers expected the market to trade narrowly on Thursday, although prices would be supported on short covering ahead of the widely anticipated March non-farm payrolls report due on Friday, when trading will be limited due to the Easter holidays.
"It's a little better bid ... The ADP jobs data definitely points to a lower-than-consensus number ," said Adam Mackillop, head of U.S. rates trading at Barclays Capital in Tokyo. "Risk reward favours a small long position going into the jobs data.
Read more at Reuters.com Bonds News
"It's a little better bid ... The ADP jobs data definitely points to a lower-than-consensus number ," said Adam Mackillop, head of U.S. rates trading at Barclays Capital in Tokyo. "Risk reward favours a small long position going into the jobs data.
Read more at Reuters.com Bonds News
Vodafone says full Essar buy against India law: FT
(Reuters) - Vodafone has agreed to buy a two-thirds interest in Hutchison Essar from Hutchison Telecommunications International , a unit of Hong Kong tycoon Li Ka-shing's Hutchison Whampoa , but an Indian foreign investment regulator has delayed approval of the deal.
Hutchison Telecom owns 52 per cent of Hutchison Essar directly, with a further 15 per cent stake held on its behalf by companies owned by two Indian nationals, over which it has call options, the FT reported.
Read more at Reuters.com Business News
Hutchison Telecom owns 52 per cent of Hutchison Essar directly, with a further 15 per cent stake held on its behalf by companies owned by two Indian nationals, over which it has call options, the FT reported.
Read more at Reuters.com Business News
New York finds college officials held lender shares
(Reuters) - Officials from the three universities each owned at least 1,500 shares of Education Lending Group, as disclosed in a stock offering prospectus filed with the Securities and Exchange Commission in September 2003. Student Loan Xpress, a unit of the company, is a "preferred lender" at these schools.
David Charlow, the associate dean of student affairs at Columbia, owned 7,500 shares of Education Lending stock and 2,500 stock warrants ahead of the offering, according to the filing. He sold his shares for a gain of more than $100,000.
Read more at Reuters.com Government Filings News
David Charlow, the associate dean of student affairs at Columbia, owned 7,500 shares of Education Lending stock and 2,500 stock warrants ahead of the offering, according to the filing. He sold his shares for a gain of more than $100,000.
Read more at Reuters.com Government Filings News
Calpers to vote against Irani for KB Home board
(Reuters) - KB Home and Irani, chairman and chief executive of Occidental Petroleum Corp. , were not immediately available to comment.
Calpers routinely promotes efforts to improve corporate governance and shareholder rights.
Read more at Reuters.com Government Filings News
Calpers routinely promotes efforts to improve corporate governance and shareholder rights.
Read more at Reuters.com Government Filings News
Chile's LAN says does not plan to take Varig stake
(Reuters) - "The moment it completes its sale to Gol, Nova Varig must pay its total credit for the sum of $17.1 million plus interest accrued up to that date," LAN said in a statement.
"We should bear in mind that the sale has not been completed and therefore LAN maintains the rights and options laid out in its financing agreement," it added.
Read more at Reuters.com Market News
"We should bear in mind that the sale has not been completed and therefore LAN maintains the rights and options laid out in its financing agreement," it added.
Read more at Reuters.com Market News
UPDATE 1-Veraz Networks IPO raises $72 mln, below range
(Reuters) - The offering of 9 million shares sold for $8 per share, which compared with a $10 to $12 forecast range, according to an underwriter.The company sold 6.75 million shares, and existing stockholders sold 2.25 million.
The offering of a 23 percent stake valued Veraz overall at $316 million.
Read more at Reuters.com New Issues News
The offering of a 23 percent stake valued Veraz overall at $316 million.
Read more at Reuters.com New Issues News
Janus pays $81 million to raise Intech unit stake
(Reuters) - Intech, which uses a mathematical model for investing money for institutional clients, private accounts and some Janus mutual funds, has been a key driver of Janus's growth. Intech's assets have more than doubled to $62.3 billion in the two years till end-2006.
Overall, Janus managed $167.7 billion at the end of 2006.
Read more at Reuters.com Mergers News
Overall, Janus managed $167.7 billion at the end of 2006.
Read more at Reuters.com Mergers News
Restoration Hardware posts Q4 profit
(Reuters) - The company reported fourth-quarter profit of 34 cents a share, including a 2 cents charge for stock option expense. It had posted a loss of 52 cents a share in the year-ago quarter, including a 74 cents charge for a valuation allowance against its deferred tax assets.
Analysts were expecting earnings of 36 cents a share, excluding items, in the latest quarter, according to Reuters Estimates. The furniture and housewares retailer forecast first-quarter loss of 19 cents to 22 cents a share, on total revenue of $145 million to $150 million.
Read more at Reuters.com Market News
Analysts were expecting earnings of 36 cents a share, excluding items, in the latest quarter, according to Reuters Estimates. The furniture and housewares retailer forecast first-quarter loss of 19 cents to 22 cents a share, on total revenue of $145 million to $150 million.
Read more at Reuters.com Market News
UPDATE 1-GM sees softer Q2 sales; plans summer incentives
(Reuters) - NEW YORK, April 4 - General Motors Corp.'s head of North American operations said on Wednesday he expects second-quarter sales to be softer than initially forecast due to a weaker overall industry than GM had anticipated.
Speaking on the sidelines of the New York International Auto Show, Troy Clarke said the automaker was scaling back production on some cars and mid-size sport utility vehicles to cope with softer demand.
Read more at Reuters.com Bonds News
Speaking on the sidelines of the New York International Auto Show, Troy Clarke said the automaker was scaling back production on some cars and mid-size sport utility vehicles to cope with softer demand.
Read more at Reuters.com Bonds News
Micron posts quarterly loss on memory weakness
(Reuters) - Revenue was $1.43 billion, up 16.5 percent from a year earlier.
Wall Street analysts had expected Micron to lose 1 cent per share on sales of $1.47 billion.
Read more at Reuters.com Market News
Wall Street analysts had expected Micron to lose 1 cent per share on sales of $1.47 billion.
Read more at Reuters.com Market News
UPDATE 1-Bridgepoint is preferred bidder for Leeds airport
(Reuters) - LONDON, April 4 - Private equity firm Bridgepoint Capital has been chosen as the preferred bidder to buy Leeds-Bradford International Airport by the northern England authorities selling one of the UK's last remaining locally controlled airports.
Barclays Private Equity in partnership with Churchill Airports was picked on Wednesday night as a reserve bidder should Bridgepoint's infrastructure fund be unable to finalise terms.
Read more at Reuters.com Mergers News
Barclays Private Equity in partnership with Churchill Airports was picked on Wednesday night as a reserve bidder should Bridgepoint's infrastructure fund be unable to finalise terms.
Read more at Reuters.com Mergers News
Ford's N. America head sees housing slump hit pickups
(Reuters) - No immediate uptick in industry auto sales is in sight, Ford's Mark Fields also told reporters at the New York International Auto Show on Wednesday, with mixed signals coming from the U.S. housing market.
"When you look at the pickup truck segment, because we are a leader there, because that is the segment it most impacts, we could have the biggest impact," said Fields, answering questions on the slowdown in the U.S. housing market.
Read more at Reuters.com Bonds News
"When you look at the pickup truck segment, because we are a leader there, because that is the segment it most impacts, we could have the biggest impact," said Fields, answering questions on the slowdown in the U.S. housing market.
Read more at Reuters.com Bonds News
US HIGH YIELD-Buyout fever may help loans surpass junk bonds
(Reuters) - Private equity firms increasingly are relying on loans over bonds because loans can be repaid early without penalty. Hedge funds also prefer so-called covenant-lite loans, or loans lacking traditional restrictions on borrowers, which can be packaged into collateralized loan obligations.
Leveraged M&A activity doubled to almost $100 billion in the first quarter, with half of that coming from a record $50 billion in leveraged buyout loans, according to data from Reuters Loan Pricing Corp.
Read more at Reuters.com Bonds News
Leveraged M&A activity doubled to almost $100 billion in the first quarter, with half of that coming from a record $50 billion in leveraged buyout loans, according to data from Reuters Loan Pricing Corp.
Read more at Reuters.com Bonds News
TREASURIES-Weaker data, technicals buoy bond prices
(Reuters) - NEW YORK, April 4 - U.S. Treasury debt prices rose on Wednesday after surprisingly weak economic data, seen supportive of an interest rate cut, encouraged investors to cover short positions ahead of Friday's crucial jobs report.
Buyers were lured back into the market on news that activity in the U.S. services sector fell to its lowest level in nearly four years in March, while a private employment report suggested March's government payrolls report was unlikely to provide any significant surprises.
Read more at Reuters.com Bonds News
Buyers were lured back into the market on news that activity in the U.S. services sector fell to its lowest level in nearly four years in March, while a private employment report suggested March's government payrolls report was unlikely to provide any significant surprises.
Read more at Reuters.com Bonds News
GE Capital launches $2.75 bln 2-part sale
(Reuters) - Pricing is expected later on Wednesday.
Credit Suisse, Lehman Brothers and Morgan Stanley are the joint lead managers of the sale, the source said.
Read more at Reuters.com New Issues News
Credit Suisse, Lehman Brothers and Morgan Stanley are the joint lead managers of the sale, the source said.
Read more at Reuters.com New Issues News
France Telecom, Telefonica mull T. Italia bid-WSJ
(Reuters) - Olimpia's majority shareholder Pirelli & Co . was approached earlier in the week by U.S. phone giant AT&T and Mexico's America Movil to buy a combined 66 percent stake for about 4.5 billion euros , according to Reuters calculations.
Olimpia owns 18 percent of Telecom Italia, the former state-run telecoms operator that some government officials would prefer to keep in local hands.
Read more at Reuters.com Mergers News
Olimpia owns 18 percent of Telecom Italia, the former state-run telecoms operator that some government officials would prefer to keep in local hands.
Read more at Reuters.com Mergers News
UPDATE 1-US March services growth slowest in four years-ISM
(Reuters) - In the latest evidence of a rapidly slowing U.S. economy, the Institute for Supply Management's index of non-manufacturing industries fell to 52.4 last month, its lowest since April, 2003, and down from 54.3 in February.
"It's looking pretty dark," said Richard Dekaser, chief economist at National City Corp in Cleveland, Ohio.
Read more at Reuters.com Economic News
"It's looking pretty dark," said Richard Dekaser, chief economist at National City Corp in Cleveland, Ohio.
Read more at Reuters.com Economic News
Monster revenue to miss forecast, shares drop
(Reuters) - The company said it expects to report revenue of $328 million to $329 million for the quarter, ended March 31, below the $330 million to $338 million range it had previously forecast.
Analysts, on average, expected $333.7 million, with profit forecast at 35 cents per share for the quarter, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Analysts, on average, expected $333.7 million, with profit forecast at 35 cents per share for the quarter, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
TREASURIES-Bond prices pare gains after Iran comments
(Reuters) - The benchmark 10-year note shed some earlier gains to trade up 4/32 in price for a yield of 4.65 percent , versus about 4.66 percent before the remarks and 4.67 percent late on Tuesday. Bond yields and prices move inversely.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
US STOCKS-Indexes open flat on earnings, Iran move
(Reuters) - The Dow Jones industrial average was down 3.74 points, or 0.03 percent, at 12,506.56. The Standard & Poor's 500 Index was up 0.10 points, or 0.01 percent, at 1,437.87. The Nasdaq Composite Index was up 1.16 points, or 0.05 percent, at 2,451.49.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
CORRECTED - Merrill raises S&P 12-month estimate to 1590
(Reuters) - "Our target is revised to 1590," Bernstein said in a note dated Tuesday. That would pass the record high of 1552.92 set in March 2000.
"We do expect multiple expansions in 2007, but one should remember that multiple expansion often comes from falling "E" as well as rising "P" . Thus, the interaction between earnings and interest rates might become quite important," he wrote.
Read more at Reuters.com Bonds News
"We do expect multiple expansions in 2007, but one should remember that multiple expansion often comes from falling "E" as well as rising "P" . Thus, the interaction between earnings and interest rates might become quite important," he wrote.
Read more at Reuters.com Bonds News
UPDATE 1-Merrill Lynch sees new S&P record in 12 months
(Reuters) - "Our 12-month expected return is now 12 percent, and has moved back to the top end of its recent 8 percent to 12 percent range. Our target is revised to 1590," Bernstein said in a note dated Tuesday. That would pass the record high of 1552.92 set March 24, 2000.
"We do expect multiple expansions in 2007, but one should remember that multiple expansion often comes from falling "E" as well as rising "P" . Thus, the interaction between earnings and interest rates might become quite important," he wrote.
Read more at Reuters.com Bonds News
"We do expect multiple expansions in 2007, but one should remember that multiple expansion often comes from falling "E" as well as rising "P" . Thus, the interaction between earnings and interest rates might become quite important," he wrote.
Read more at Reuters.com Bonds News
Services index falls to four-year low: ISM
(Reuters) - February had already shown a sharp pullback, so most analysts were counting on a rebound. The median of forecasts in a Reuters survey of economists had predicted a rise to 55.0.
The prices component jumped to 63.3 from 53.8, while a measure of employment slipped to 50.8 from 52.2. New orders dipped to 53.8 from 54.8.
Read more at Reuters.com Bonds News
The prices component jumped to 63.3 from 53.8, while a measure of employment slipped to 50.8 from 52.2. New orders dipped to 53.8 from 54.8.
Read more at Reuters.com Bonds News
Gazprom narrows Shtokman list to four, Chevron out
(Reuters) - The operating company would own production and transportation facilities and would belong at least 51 percent to Gazprom.
The Russian firm will also be the sole owner of gas produced, but foreign partners could in theory book reserves of Shtokman as shareholders of the operator, the source said.
Read more at Reuters.com Mergers News
The Russian firm will also be the sole owner of gas produced, but foreign partners could in theory book reserves of Shtokman as shareholders of the operator, the source said.
Read more at Reuters.com Mergers News
FACTBOX-Eni, Enel buy YUKOS assets, may resell to Gazprom
(Reuters) - But under put and call options with Russia's gas monopoly Gazprom , Eni and Enel agreed to sell a major part of the former YUKOS assets to the Russian gas giant.
Following are details of the acquired assets and options with Gazprom as provided by Eni and analysts:
Read more at Reuters.com Mergers News
Following are details of the acquired assets and options with Gazprom as provided by Eni and analysts:
Read more at Reuters.com Mergers News
UPDATE 1-Chilean inflation 0.4 pct in March
(Reuters) - The increase was slightly smaller than the median forecast of a rise of 0.5 percent expected by 10 analysts and economists polled by Reuters.
Inflation in March 2006 rose 0.6 percent.
Read more at Reuters.com Economic News
Inflation in March 2006 rose 0.6 percent.
Read more at Reuters.com Economic News
UPDATE 1-Canada Feb building permits plunge from record high
(Reuters) - The decline was more than three times the 6.5-percent drop forecast by analysts in a Reuters poll. The total value of permits was C$4.9 billion, 12 percent below the monthly average in 2006.
Building intentions in the residential sector fell 17.8 percent to C$3.0 billion, pulled down by a 34.4 percent plunge in permits for multifamily units. The biggest decline was in the province of Ontario but western Canadian provinces of Alberta and British Columbia, as well as Quebec in the central region also saw significant setbacks.
Read more at Reuters.com Economic News
Building intentions in the residential sector fell 17.8 percent to C$3.0 billion, pulled down by a 34.4 percent plunge in permits for multifamily units. The biggest decline was in the province of Ontario but western Canadian provinces of Alberta and British Columbia, as well as Quebec in the central region also saw significant setbacks.
Read more at Reuters.com Economic News
CKE Restaurants same-store sales rise
(Reuters) - The company said same-store sales rose 1.2 percent at percent at Carl's Jr., and 2.9 percent at Hardee's during the period.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Greenbrier posts Q2 loss; to close Canadian plant
(Reuters) - Shares of the company were down over 10 percent at $24.01 in electronic trade.
Greenbrier said it would close the Nova Scotia plant in the third quarter, which it said would cost about $10 million pre-tax, to be incurred over the next year.
Read more at Reuters.com Market News
Greenbrier said it would close the Nova Scotia plant in the third quarter, which it said would cost about $10 million pre-tax, to be incurred over the next year.
Read more at Reuters.com Market News
Circuit City posts quarterly loss
(Reuters) - The latest results included $144.6 million in pretax charges.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Best Buy quarterly profit rises
(Reuters) - At Best Buy, net income for the fiscal fourth quarter ended March 3 rose to $763 million, or $1.55 per share, from $644 million, or $1.29 a share, a year earlier. Revenue increased 21 percent to $12.9 billion, and same-store sales increased 5.9 percent.
Analysts on average expected profit of $1.52 per share on revenue of $12.75 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Analysts on average expected profit of $1.52 per share on revenue of $12.75 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Average gold price to hit record high in '07 - GFMS
(Reuters) - Gold prices will set a record high this year in terms of their annual average and may scale new absolute peaks on a weaker dollar outlook, a slowdown in the U.S. economy and geopolitical tensions, a report said on Wednesday.
Precious metals consultant GFMS Ltd said in its Gold Survey 2007, which marks the 40th anniversary of its annual report, that worries over high oil prices and inflation might resurface should the United States decide to ratchet up the pressure on Iran.
Read more at Reuters Africa
Precious metals consultant GFMS Ltd said in its Gold Survey 2007, which marks the 40th anniversary of its annual report, that worries over high oil prices and inflation might resurface should the United States decide to ratchet up the pressure on Iran.
Read more at Reuters Africa
Gold rally falters as Iran says to free Britons
(Reuters) - Spot gold rapidly reversed gains when Iran said it would free 15 British naval personnel after a news conference.
Earlier gold had gained more than 1.8 percent in minutes when Iran's President Mahmoud Ahmadinejad initially said he was "saddened" by what he called the violation of Iran's borders.
Read more at Reuters Africa
Earlier gold had gained more than 1.8 percent in minutes when Iran's President Mahmoud Ahmadinejad initially said he was "saddened" by what he called the violation of Iran's borders.
Read more at Reuters Africa
UPDATE 1-Big trade surplus not good for China -cbank
(Reuters) - Wu Xiaoling told reporters on a trip to India that China had to take steps to curtail the increasing trade surplus, and measures could include improving domestic demand and investment overseas by Chinese companies.
"I think too much trade surplus is not good for China's sustainable development," Wu told reporters after giving a speech at a banking conference.
Read more at Reuters.com Bonds News
"I think too much trade surplus is not good for China's sustainable development," Wu told reporters after giving a speech at a banking conference.
Read more at Reuters.com Bonds News
Wall St seen opening mixed; ISM and jobs data eyed
(Reuters) - Shares in the newly-merged transatlantic exchange operator NYSE Euronext will start trading in New York after they fell 0.8 percent in their Paris market debut earlier.
Car shares could be in focus on Wednesday after General Motors , Ford and DaimlerChrysler's Chrysler Group posted lower March U.S. sales on Tuesday, while Asian rivals like Toyota gained.
Read more at Reuters.com Bonds News
Car shares could be in focus on Wednesday after General Motors , Ford and DaimlerChrysler's Chrysler Group posted lower March U.S. sales on Tuesday, while Asian rivals like Toyota gained.
Read more at Reuters.com Bonds News
Citigroup markets "zero cost" protection for default
(Reuters) - LONDON, April 4 - Citigroup is marketing a version of credit default swaps that offer investors insurance against bond defaults at zero upfront cost.
Called Zero Initial Cost Protection the securities bring the concept of "no win, no fee" legal cases to the world of credit derivatives. Like ordinary CDS protection, the product pays out in the event of defaults, but does not require a premium unless and until defaults occur.
Read more at Reuters.com Bonds News
Called Zero Initial Cost Protection the securities bring the concept of "no win, no fee" legal cases to the world of credit derivatives. Like ordinary CDS protection, the product pays out in the event of defaults, but does not require a premium unless and until defaults occur.
Read more at Reuters.com Bonds News
Epson wins initial ruling in ink cartridge suit
(Reuters) - Seiko Epson has already reached a settlement with 7 suppliers such as Artech GmbH of Germany and Ink Lab Co. of Hong Kong.
Seiko Epson said in a press release that ITC on March 30 tentatively ruled in favour of Seiko Epson's request for a general exclusion order on the cartridges.
Read more at Reuters.com Government Filings News
Seiko Epson said in a press release that ITC on March 30 tentatively ruled in favour of Seiko Epson's request for a general exclusion order on the cartridges.
Read more at Reuters.com Government Filings News
Merged NYSE Euronext start trading in Paris
(Reuters) - Both men will attempt to make it to New York in time for the NYSE closing bell later in the day, Theodore told French television channel LCI on Monday.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
DoubleClick to set up ad exchange - NYT
(Reuters) - Microsoft Corp. , Yahoo Inc. , Google Inc. and Time Warner Inc.'s AOL unit have been reported to have expressed interest in purchasing DoubleClick, which is majority-owned by San Francisco-based private-equity firm Hellman & Friedman.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Barclays spoke with Dutch regulator on ABN bid steps
(Reuters) - "We are the bid authority and we have talked about this issues and other subjects," AFM chairman Arthur Docters van Leeuwentold reporters, adding that he met with Varley on Tuesday.
ABN and Barclays entered merger talks last month after ABN came under pressure from investors, including British hedge fund TCI, to consider a sale or breakup to boost shareholder returns after several years of underperformance.
Read more at Reuters.com Mergers News
ABN and Barclays entered merger talks last month after ABN came under pressure from investors, including British hedge fund TCI, to consider a sale or breakup to boost shareholder returns after several years of underperformance.
Read more at Reuters.com Mergers News
KKR still in race for Australia's Coles, shares up
(Reuters) - By Michael Smith
SYDNEY, April 4 - Private equity giant Kohlberg Kravis Roberts & Co. said it was still in the race for Australia's Coles Group Ltd. , despite a A$19.7 billion
Read more at Reuters.com Mergers News
SYDNEY, April 4 - Private equity giant Kohlberg Kravis Roberts & Co. said it was still in the race for Australia's Coles Group Ltd. , despite a A$19.7 billion
Read more at Reuters.com Mergers News
DaimlerChrysler in talks on Chrysler: CEO
(Reuters) - "But it is also true that we need to keep all options open, and that I cannot disclose any details, because we need to have the maximum scope for maneuver."
DaimlerChryselr reiterated its forecast for a significant increase in group profitability in 2007 through 2009.
Read more at Reuters.com Business News
DaimlerChryselr reiterated its forecast for a significant increase in group profitability in 2007 through 2009.
Read more at Reuters.com Business News
U.S. Commerce head urges fairness in Russia PwC probe
(Reuters) - The case is politically charged because YUKOS shareholders say the Kremlin deliberately destroyed the firm and pursued people and entities associated with it to punish YUKOS's main owner for harboring political ambitions.
Asked in an interview with Kommersant newspaper about the PwC case, Gutierrez said: "We expect that Russian laws will be applied consistently and regardless of what company we are talking about, where it comes from and what clients they have.
Read more at Reuters.com Business News
Asked in an interview with Kommersant newspaper about the PwC case, Gutierrez said: "We expect that Russian laws will be applied consistently and regardless of what company we are talking about, where it comes from and what clients they have.
Read more at Reuters.com Business News
FTSE edges down as oil slips, rates decision eyed
(Reuters) - The FTSE 100 index of Britain's leading shares edged down on Wednesday as oil prices slipped but with overall investor sentiment still positive after strong U.S. and Asian share market rises overnight.
U.S. stocks closed sharply higher on Tuesday as a drop in oil prices calmed worries about inflation and news of an unexpected rise in home sales raised hopes that the U.S. housing market is stabilising.
Read more at Reuters Africa
U.S. stocks closed sharply higher on Tuesday as a drop in oil prices calmed worries about inflation and news of an unexpected rise in home sales raised hopes that the U.S. housing market is stabilising.
Read more at Reuters Africa
S.Africa maize seen sustaining more drought damage
(Reuters) - Grain South Africa expects this season's maize crop to deteriorate further after a "disaster drought" in the grain belt, the farming group's general manager said on Wednesday.
South Africa cut its forecast for the maize crop by 11 percent to 6.907 million tonnes last week after one of the driest seasons in years, which has fuelled fears of a shortage of the staple grain.
Read more at Reuters Africa
South Africa cut its forecast for the maize crop by 11 percent to 6.907 million tonnes last week after one of the driest seasons in years, which has fuelled fears of a shortage of the staple grain.
Read more at Reuters Africa
Oil steadies on Iran hopes, US fuel data lends support
(Reuters) - Oil steadied above $64 on Wednesday on hopes diplomacy would bring the release of 15 British sailors held by Iran and help ease tensions around the world's fourth-biggest oil exporter.
Prices drew some support from expectations that weekly U.S. data on fuel inventories later on Wednesday will show a slight drop in gasoline stocks in the world's top consumer ahead of peak summer demand.
Read more at Reuters Africa
Prices drew some support from expectations that weekly U.S. data on fuel inventories later on Wednesday will show a slight drop in gasoline stocks in the world's top consumer ahead of peak summer demand.
Read more at Reuters Africa
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