(Reuters) - Sales totalled 10,177 cars in the three-month period, up from 7,586 units a year earlier, it said in a statement seen on Wednesday. Sales of BMW brands rose 31 percent to 9,836 units, with Minis up 283 percent at 341 units.
In the Greater China area including Taiwan and Hong Kong, BMW moved 12,419 vehicles in the January-to-March period, up 25 percent from the year-ago level.
Read more at Reuters.com Market News
Tuesday, April 10, 2007
Xstrata to sell aluminium unit to Apollo
(Reuters) - Anglo-Swiss miner Xstrata said on Wednesday it was selling its aluminium assets to private equity firm Apollo Management for $1.15 billion (580 million pounds) in cash.
"The disposal follows a comprehensive strategic review by Xstrata, which examined a number of options for these assets, including an assessment of their potential as a platform from which to establish a substantial aluminium business, and of the prospects for a whole or partial sale of the business," Xstrata said in a statement.
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"The disposal follows a comprehensive strategic review by Xstrata, which examined a number of options for these assets, including an assessment of their potential as a platform from which to establish a substantial aluminium business, and of the prospects for a whole or partial sale of the business," Xstrata said in a statement.
Read more at Reuters Africa
Northrop plans partnership with Israel company: report
(Reuters) - The Los Angeles-based company proposes to buy and modify several Israeli-built, high-resolution spy satellites, each costing less than $200 million, the Journal said, which is a fraction of what a larger, more complex U.S. satellite would cost.
A representative for Northrop was not immediately available for comment.
Read more at Reuters.com Business News
A representative for Northrop was not immediately available for comment.
Read more at Reuters.com Business News
Oil holds near $62 ahead of US gasoline stock data
(Reuters) - Oil stood near $62 a barrel on Wednesday, ahead of U.S. data expected to show gasoline inventories fell further in the run up to summer demand.
U.S. crude was steady at $61.89 a barrel by 0403 GMT, after settling up 38 cents on Tuesday. London Brent crude was down 1 cent at $67.41.
Read more at Reuters Africa
U.S. crude was steady at $61.89 a barrel by 0403 GMT, after settling up 38 cents on Tuesday. London Brent crude was down 1 cent at $67.41.
Read more at Reuters Africa
Nasdaq in talks to buy Phila.Exchange-report
(Reuters) - NEW YORK, April 10 - Nasdaq Stock Market Inc. is in talks to buy the Philadelphia Stock Exchange to gain a stake in the fast-growing options business, according a report on the Wall Street Journal Web site on Tuesday.
The report, citing unnamed sources, said the top U.S. electronic stock exchange had discussed a link up with the regional exchange for months, but a deal is not expected to be reached any time soon and may take weeks to put together.
Read more at Reuters.com Mergers News
The report, citing unnamed sources, said the top U.S. electronic stock exchange had discussed a link up with the regional exchange for months, but a deal is not expected to be reached any time soon and may take weeks to put together.
Read more at Reuters.com Mergers News
Daimler to see bidders but not Kerkorian - WSJ
(Reuters) - Grube is scheduled on Wednesday to kick off meetings with representatives from the tandem of Blackstone Group and Centerbridge Capital Partners LP; Cerberus Capital Management LP [CBS.UL]; and a partnership between Canadian auto-parts supplier Magna International Inc. and private-equity firm Ripplewood Holdings Inc., the Journal said. All have shown interest in purchasing Chrysler.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Japan bankruptcy debt hits 16-year low in 2006/07
(Reuters) - The combined debt of bankruptcies in the year to March totalled 5.4 trillion yen , down 11.03 percent from the previous year to the lowest amount since 1990, data from Tokyo Shoko Research showed.
There were 13,337 bankruptcies during the year, up 1.26 percent.
Read more at Reuters.com Economic News
There were 13,337 bankruptcies during the year, up 1.26 percent.
Read more at Reuters.com Economic News
Rand softens, but gold seen supporting
(Reuters) - South Africa's rand traded softer against the dollar on Tuesday but still near a 6-week high, supported by strong commodity prices, as investors looked ahead to Thursday's interest rates decision.
The local currency was at 7.1455 against the greenback at 1520 GMT, 0.4 percent weaker than its New York close on Monday when it pushed to a session high 7.1105 -- its firmest level since February 27, according to Reuters data.
Read more at Reuters Africa
The local currency was at 7.1455 against the greenback at 1520 GMT, 0.4 percent weaker than its New York close on Monday when it pushed to a session high 7.1105 -- its firmest level since February 27, according to Reuters data.
Read more at Reuters Africa
Altron sees FY basic EPS up 60-70 pct
(Reuters) - South Africa's Allied Electronics Corp Ltd (Altron) expects its annual basic earnings per share to rise 60-70 percent while headline EPS is expected to jump 45-55 percent, the company said on Tuesday.
Altron said in a statement growth in the year ended February 28 was driven by strong demand for its infrastructure-related products due to a construction boom in Africa's biggest economy.
Read more at Reuters Africa
Altron said in a statement growth in the year ended February 28 was driven by strong demand for its infrastructure-related products due to a construction boom in Africa's biggest economy.
Read more at Reuters Africa
UPDATE 1-Top China bank ICBC hopes to boost consumer banking
(Reuters) - HONG KONG, April 10 - Industrial and Commercial Bank of China , the country's largest lender, hopes to sustain annual returns and flesh out its portfolio by enlisting part-owner Goldman Sachs in developing consumer-oriented investment products.
ICBC, which like Bank of China and Construction Bank is trying to get away from decades of lending to state firms and moving into fees-based businesses, will try to get away from lending-driven profit growth, Chairman Jiang Jianqing told reporters on Tuesday.
Read more at Reuters.com Market News
ICBC, which like Bank of China and Construction Bank is trying to get away from decades of lending to state firms and moving into fees-based businesses, will try to get away from lending-driven profit growth, Chairman Jiang Jianqing told reporters on Tuesday.
Read more at Reuters.com Market News
UPDATE 1-DR Horton orders down 37 pct, spring starts weak
(Reuters) - Chairman Donald Horton said conditions remain tough in most markets because of high inventories of unsold new and existing homes. He also said "the spring selling season has not gotten off to its usual strong start."
Net sales orders in the second fiscal quarter ended March 31 fell to 9,983 homes from 15,771 a year earlier, and the dollar value of the orders sank 41 percent to $2.6 billion from $4.4 billion, Fort Worth, Texas-based D.R. Horton said.
Read more at Reuters.com Bonds News
Net sales orders in the second fiscal quarter ended March 31 fell to 9,983 homes from 15,771 a year earlier, and the dollar value of the orders sank 41 percent to $2.6 billion from $4.4 billion, Fort Worth, Texas-based D.R. Horton said.
Read more at Reuters.com Bonds News
La Caixa, Suez to make bid for Agbar-source
(Reuters) - A La Caixa spokeswoman made no immediate comment on the report.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Jarden buys Pure Fishing
(Reuters) - April 10 - Jarden Corp. , which makes small appliances and other consumer goods, said it acquired fishing tackle company Pure Fishing Inc. for $300 million in cash plus a note and warrants, chasing growth in recreational fishing.
The purchase price includes a $100 million five year note with a 2 percent coupon and warrants exercisable into Jarden common stock with a strike price of $45.32, Jarden said in a statement. Jarden shares last traded at $41.21.
Read more at Reuters.com Mergers News
The purchase price includes a $100 million five year note with a 2 percent coupon and warrants exercisable into Jarden common stock with a strike price of $45.32, Jarden said in a statement. Jarden shares last traded at $41.21.
Read more at Reuters.com Mergers News
UPDATE 1-Friedman Billings' REIT unit files for IPO
(Reuters) - Plans call for the sale of up to 13.5 million shares of common stock at an estimated price of $16 to $18 each, according to a registration statement filed with the U.S. Securities and Exchange Commission.
FBR Capital Markets was formed in June as the holding company for FBR Group's capital markets business, including investment banking and institutional brokerage and research, and asset management businesses.
Read more at Reuters.com New Issues News
FBR Capital Markets was formed in June as the holding company for FBR Group's capital markets business, including investment banking and institutional brokerage and research, and asset management businesses.
Read more at Reuters.com New Issues News
E.ON's bid for Endesa formally declared a failure
(Reuters) - The failure of E.ON's bid opens the way for an expected minimum 41 euro a share offer by Italy's Enel and Spanish builder Acciona . E.ON said earlier in April that it expected its bid to fail and that it would instead buy about 10 billion euros of Endesa assets from Enel and Acciona.
Enel and Acciona already have 46 percent of Endesa shares between them.
Read more at Reuters.com Mergers News
Enel and Acciona already have 46 percent of Endesa shares between them.
Read more at Reuters.com Mergers News
UPDATE 1-Argentina's Edenor sets IPO at 15.2 million ADS
(Reuters) - The company said in an amended offering document filed with the U.S. Securities and Exchange Commission that it expected to receive $57.7 million from its share of net proceeds from the IPO. It plans to use the funds to repurchase its restructured debt and for general corporate purposes.
Edenor is planning to sell 3.74 million ADS, and shareholders are planning to sell an additional 11.42 million, the filing said.
Read more at Reuters.com New Issues News
Edenor is planning to sell 3.74 million ADS, and shareholders are planning to sell an additional 11.42 million, the filing said.
Read more at Reuters.com New Issues News
UPDATE 3-LG.Philips Q1 beats forecast, eyes Q2 breakeven
(Reuters) - SEOUL, April 10 - South Korean flat screen maker LG.Philips LCD Co. Ltd. on Tuesday reported a fourth straight quarterly loss as panel prices resumed their fall in the first quarter, but the loss was smaller than forecast.
The world's No.2 maker of large-sized liquid crystal displays
Read more at Reuters.com Mergers News
The world's No.2 maker of large-sized liquid crystal displays
Read more at Reuters.com Mergers News
Automakers challenge Vermont emissions law
(Reuters) - The trial comes a week after the Supreme Court dealt a blow to the Bush administration by ruling that greenhouse gases meet the definition of pollutants and telling the Environmental Protection Agency to rethink its refusal to regulate carbon dioxide emissions.
Vermont, with a record of environmental measures and known for its rural beauty, is one of nine states to have followed California's lead in adopting standards that are tougher than federal rules.
Read more at Reuters.com Business News
Vermont, with a record of environmental measures and known for its rural beauty, is one of nine states to have followed California's lead in adopting standards that are tougher than federal rules.
Read more at Reuters.com Business News
Argentina's Edenor sets IPO at 15.2 million ADS
(Reuters) - Citigroup and JPMorgan are underwriting the IPO.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
TREASURIES-10-year yield slips on bargain hunting
(Reuters) - "Some investors consider the 10-year yield around the 4.75-4.8 percent region as a good chance to buy, so we're seeing some flows today," said a dealer at a U.S. brokerage in Tokyo.
The benchmark 10-year Treasury yield was at 4.73 percent, easing from 4.75 percent in New York. The strong jobs report had pushed the yield as high as around 4.757 percent touched on Friday for the first time since mid-February.
Read more at Reuters.com Bonds News
The benchmark 10-year Treasury yield was at 4.73 percent, easing from 4.75 percent in New York. The strong jobs report had pushed the yield as high as around 4.757 percent touched on Friday for the first time since mid-February.
Read more at Reuters.com Bonds News
U.S. automakers challenge Vermont emissions law
(Reuters) - The trial comes a week after the Supreme Court dealt a blow to the Bush administration by ruling that greenhouse gases meet the definition of pollutants and telling the Environmental Protection Agency to rethink its refusal to regulate carbon dioxide emissions.
Vermont, with a record of environmental measures and known for its rural beauty, is one of nine states to have followed California's lead in adopting standards that are tougher than federal rules.
Read more at Reuters.com Bonds News
Vermont, with a record of environmental measures and known for its rural beauty, is one of nine states to have followed California's lead in adopting standards that are tougher than federal rules.
Read more at Reuters.com Bonds News
UPDATE 1-BHP floating gas plant rejected in California
(Reuters) - The Lands Commission voted 2-1 on Monday night against the 3,000-page report after members raised such issues as global warming and cost-effectiveness during an all-day hearing attended by worried residents, including actor Pierce Brosnan. A BHP spokeswoman in Melbourne said the company would review the commission's decision and assess its position.
"Then we will look at what we will do next," the spokeswoman said.
Read more at Reuters.com Government Filings News
"Then we will look at what we will do next," the spokeswoman said.
Read more at Reuters.com Government Filings News
World stocks recover their February/March losses
(Reuters) - MSCI's main world stock index climbed above its high on February 26, the eve of a sharp tumble on global equity markets which was accompanied by soaring volatility and weeks of ructions in other assets.
Equities have steadily recovered since early March, driven by mergers and acquisitions and a belief that global fundamentals remain in place.
Read more at Reuters.com Hot Stocks News
Equities have steadily recovered since early March, driven by mergers and acquisitions and a belief that global fundamentals remain in place.
Read more at Reuters.com Hot Stocks News
Rodamco says no comment on Dornbush resignation
(Reuters) - "The Supervisory Board and Management Board of Rodamco, unanimously support the intended Share Offer, with the exception of Mr Terry Dornbush, who has resigned from the Supervisory Board and abstained from voting," Rodamco said in a statement.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Sainsbury suitor ups bid to 10.1 bln stg - source
(Reuters) - LONDON, April 10 - A group of private equity firms has raised its offer for British supermarket group J Sainsbury Plc by 3.6 percent to 10.1 billion pounds , a person familiar with the situation said on Tuesday.
The private equity consortium, led by CVC Capital Partners [CVC.UL], has increased its offer to 582 pence a share in cash after its previous bid of 562 pence a share was rejected by Britain's third-biggest grocer, the person said.
Read more at Reuters.com Mergers News
The private equity consortium, led by CVC Capital Partners [CVC.UL], has increased its offer to 582 pence a share in cash after its previous bid of 562 pence a share was rejected by Britain's third-biggest grocer, the person said.
Read more at Reuters.com Mergers News
Pentax calls off Hoya share-swap merger plan
(Reuters) - By Nobuhiro Kubo and Kentaro Hamada
TOKYO, April 10 - Japanese camera and medical equipment maker Pentax Corp. said it has decided to scrap a planned share-swap merger with Hoya Corp. but remained open to considering a merger on different terms.
Read more at Reuters.com Mergers News
TOKYO, April 10 - Japanese camera and medical equipment maker Pentax Corp. said it has decided to scrap a planned share-swap merger with Hoya Corp. but remained open to considering a merger on different terms.
Read more at Reuters.com Mergers News
Alcatel-Lucent sees Q1 capital gain in deal
(Reuters) - The previously announced transaction will see Alcatel-Lucent sell its shareholdings in the satellite companies Alcatel Alenia Space and Telespazio to Thales.
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Read more at Reuters.com Mergers News
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Read more at Reuters.com Mergers News
Bear Stearns to open in Paris for Europe growth
(Reuters) - Some of the staff will transfer from London while others have been hired locally, Bear Stearns said.
The office will start with equity, fixed income and investment banking teams.
Read more at Reuters.com Mergers News
The office will start with equity, fixed income and investment banking teams.
Read more at Reuters.com Mergers News
UPDATE 1-Ono shares rise after urged to pay big dividend
(Reuters) - That is seven times the amount Ono plans to pay as its annual dividend for the year ended March 31.
The proposal comes as many of Japan's drug makers have aggressively stepped up shareholder returns in the form of both dividends and share buybacks under pressure from foreign investors and fears of becoming takeover targets.
Read more at Reuters.com Market News
The proposal comes as many of Japan's drug makers have aggressively stepped up shareholder returns in the form of both dividends and share buybacks under pressure from foreign investors and fears of becoming takeover targets.
Read more at Reuters.com Market News
Ono shares rise after urged to pay big dividend
(Reuters) - TOKYO, April 10 - Shares in Ono Pharmaceutical Co. Ltd. rose more than 3 percent after its top shareholder U.S. investment firm Brandes Investment Partners proposed a one-time dividend of 700 yen per share.
That is seven times the amount Ono plans to pay as its annual dividend for the year ended March 31.
Read more at Reuters.com Market News
That is seven times the amount Ono plans to pay as its annual dividend for the year ended March 31.
Read more at Reuters.com Market News
Citigroup may cut or reassign over 26,000 jobs: report
(Reuters) - In a memo to employees on Monday, Prince said the bank plans to consolidate some back-office, middle-office and corporate functions, move some work to lower-cost areas, and make its technology platforms more efficient. Reuters obtained a copy of the memo, and a Citigroup spokesman confirmed its contents.
Other published reports have said that Citigroup might eliminate 15,000 jobs, or about 5 percent of its work force of 327,000. CNBC on Monday said Citigroup might cut 45,000 jobs.
Read more at Reuters.com Business News
Other published reports have said that Citigroup might eliminate 15,000 jobs, or about 5 percent of its work force of 327,000. CNBC on Monday said Citigroup might cut 45,000 jobs.
Read more at Reuters.com Business News
Building boom lifts South Africa's coal prices
(Reuters) - Cement demand for South Africa's construction boom has boosted the domestic price for its washed coal up to export price levels, producers say.
"For the first time in recent memory, the prices for domestic steam coal Free On Mine are higher than the price which we receive from Richards Bay Coal Terminal, taking into account the additional transportation costs," Bisichi Mining Plc chairman Michael Heller said.
Read more at Reuters Africa
"For the first time in recent memory, the prices for domestic steam coal Free On Mine are higher than the price which we receive from Richards Bay Coal Terminal, taking into account the additional transportation costs," Bisichi Mining Plc chairman Michael Heller said.
Read more at Reuters Africa
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