(Reuters) - HOUSTON, April 13 - Investors betting on the long-term outlook for oil services companies have pushed those stocks to their highest in nearly a year, but upcoming quarterly earnings reports may cut the rally short.
"The near-term threat here is that earnings are going to be sloppy," said Bill Herbert, an analyst at Simmons & Co., adding that the run of tremendous growth in North American drilling over the last three years may be over.
Read more at Reuters.com Market News
Friday, April 13, 2007
Fed's Fisher-Objective is to bring down inflation
(Reuters) - Still, Fisher warned that "an enormous amount of damage" could be done if the Fed infringes upon "dynamic economic growth."
The policy-maker said the current year-long spell of sub-par growth in the United States had not left the economy vulnerable to a more severe downturn.
Read more at Reuters.com Bonds News
The policy-maker said the current year-long spell of sub-par growth in the United States had not left the economy vulnerable to a more severe downturn.
Read more at Reuters.com Bonds News
Strong TV results lift CanWest to 2nd-qtr profit
(Reuters) - TORONTO, April 13 - CanWest Global Communications Corp. , Canada's biggest media company, said on Friday it returned to a second-quarter profit, helped in part by growth in its television operations.
CanWest, which is in the midst of buying specialty TV group Alliance Atlantis Communications Inc. in partnership with an affiliate of Goldman Sachs & Co. , said it earned C$7 million, or 4 Canadian cents a share, for the period ended Feb. 28, compared with a loss of C$19.3 million, or 11 Canadian cents a share, in the year-before quarter.
Read more at Reuters.com Mergers News
CanWest, which is in the midst of buying specialty TV group Alliance Atlantis Communications Inc. in partnership with an affiliate of Goldman Sachs & Co. , said it earned C$7 million, or 4 Canadian cents a share, for the period ended Feb. 28, compared with a loss of C$19.3 million, or 11 Canadian cents a share, in the year-before quarter.
Read more at Reuters.com Mergers News
Sallie Mae options trade heavy as rumors swirl
(Reuters) - Upcoming earnings and the persistent rumors of a possible buyout could have been contributing factors to the surge of bullish options trading prior to Friday's report, analysts said.
"There were rumors already circulating on Thursday that they may be the next takeover candidate," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.
Read more at Reuters.com Hot Stocks News
"There were rumors already circulating on Thursday that they may be the next takeover candidate," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Sallie Mae options trade heavy as rumors swirl
(Reuters) - CHICAGO, April 13 - A jump in trading of SLM Corp. calls on Thursday ahead of a New York Times report that the largest U.S. student loan company was in talks to go private was unusual, but not necessarily indicative of insider trading, option analysts said.
Upcoming earnings and the persistent rumors of a possible buyout could have been contributing factors to the surge of bullish options trading prior to Friday's report, analysts said.
Read more at Reuters.com Bonds News
Upcoming earnings and the persistent rumors of a possible buyout could have been contributing factors to the surge of bullish options trading prior to Friday's report, analysts said.
Read more at Reuters.com Bonds News
ECB's Mersch sees euro-zone inflation risks
(Reuters) - He was speaking before the European Institute.
Mersch said input prices and corporate pricing power were rising and the ECB had not finished raising interest rates.
Read more at Reuters.com Bonds News
Mersch said input prices and corporate pricing power were rising and the ECB had not finished raising interest rates.
Read more at Reuters.com Bonds News
Agricore CEO says up to JRI to meet Saskpool bid
(Reuters) - "If it matches, then the board will continue to support the JRI proposal," Hayward said, adding JRI's decision could come "as early as today or it could be as late as next Friday".
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Dow Jones to buy U.K. media company
(Reuters) - The net cash consideration represents about 10.1 times estimated 2007 earnings before interest, taxes, depreciation and amortization. Dow Jones expects the acquisition to have no impact on its 2007 earnings per share, and add 3 cents to 5 cents per share in 2008.
It is expected to close in the second quarter.
Read more at Reuters.com Mergers News
It is expected to close in the second quarter.
Read more at Reuters.com Mergers News
UPDATE 2-UK's Brown-world economy strong,not worried by US
(Reuters) - WASHINGTON, April 13 - The world economy is strong enough to withstand any potential slowdown in the United States, British finance minister Gordon Brown said on Friday.
Brown, in Washington for a meeting of Group of Seven policymakers, said the European, Chinese and Indian economies were all growing strongly and dismissed concern that U.S. housing market troubles would infect the rest of the world.
Read more at Reuters.com Bonds News
Brown, in Washington for a meeting of Group of Seven policymakers, said the European, Chinese and Indian economies were all growing strongly and dismissed concern that U.S. housing market troubles would infect the rest of the world.
Read more at Reuters.com Bonds News
FCC settles with Clear Channel, others on payola
(Reuters) - Clear Channel will pay $3.5 million and CBS Radio will pay $3 million, according to the settlements.
Also signing consent decrees were Entercom Communications Corp. , which will pay $4 million, and Citadel Broadcasting Corp. , which will pay $2 million.
Read more at Reuters.com Government Filings News
Also signing consent decrees were Entercom Communications Corp. , which will pay $4 million, and Citadel Broadcasting Corp. , which will pay $2 million.
Read more at Reuters.com Government Filings News
McClatchy seen joining Yahoo ad deal: source
(Reuters) - The decision marks a split in the Internet strategies of three of the largest U.S. newspaper companies, which jointly own stakes in online jobs site Careerbuilder.com and local search and discussion forum Topix.com.
The group that McClatchy would join includes publishers Belo Corp., Hearst Corp., Journal Register Co., Lee Enterprises Inc., MediaNews Group Inc. and EW Scripps Co.. It spans papers such as the San Francisco Chronicle and the Dallas Morning News.
Read more at Reuters.com Business News
The group that McClatchy would join includes publishers Belo Corp., Hearst Corp., Journal Register Co., Lee Enterprises Inc., MediaNews Group Inc. and EW Scripps Co.. It spans papers such as the San Francisco Chronicle and the Dallas Morning News.
Read more at Reuters.com Business News
U.K. FTSE 100 Stocks Advance, Paced by BP, Shell; GlaxoSmithKline Climbs
(Bloomberg) -- U.K. stocks rose to the highest since November 2000, led by BP Plc and Royal Dutch Shell Plc. Shares of GlaxoSmithKline Plc climbed after the company won approval for its Altabax drug.
The benchmark FTSE 100 Index added 46, or 0.7 percent, to 6462.4, for a weekly gain of 1 percent. The FTSE All-Share Index rose 0.6 percent to 3360.44. Ireland's ISEQ Index advanced 0.5 percent to 9602.07.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index added 46, or 0.7 percent, to 6462.4, for a weekly gain of 1 percent. The FTSE All-Share Index rose 0.6 percent to 3360.44. Ireland's ISEQ Index advanced 0.5 percent to 9602.07.
Read more at Bloomberg Stocks News
U.S. state sales tax receipts sag in March -report
(Reuters) - Only 18 percent of states surveyed met or exceeded their sales tax projections last month, the report said. About a third of those surveyed said sales tax receipts were down from a year ago, some "quite steeply," it added.
However, the data can at times be misleading, Liscio said:
Read more at Reuters.com Bonds News
However, the data can at times be misleading, Liscio said:
Read more at Reuters.com Bonds News
Luxembourg's Juncker Says G-7 Will Repeat February Statement on Japan
(Bloomberg) -- Finance ministers from the Group of Seven industrial nations will repeat their call for investors to recognize Japan's recovery may be stronger than they think, Luxembourg Prime and Finance Minister Jean-Claude Juncker said.
``We have to repeat what we had said in Essen,'' Juncker said in an interview today before a meeting of G-7 finance ministers and central bankers in Washington. ``Economic fundamentals have to be taken into account. Exchange rates have to reflect this,'' said Juncker, who attends G-7 meetings as the representative of the 13-nation euro area.
Read more at Bloomberg Currencies News
``We have to repeat what we had said in Essen,'' Juncker said in an interview today before a meeting of G-7 finance ministers and central bankers in Washington. ``Economic fundamentals have to be taken into account. Exchange rates have to reflect this,'' said Juncker, who attends G-7 meetings as the representative of the 13-nation euro area.
Read more at Bloomberg Currencies News
Rand slips on Edcon deal worries
(Reuters) - South Africa's rand slipped on Friday, knocked by concerns the buyout of fashion retailer Edcon may unravel and by Thursday's no-change decision on interest rates, but losses were capped by firm metal prices.
The local currency was trading at 7.2095 to the dollar at 1520 GMT, 0.7 percent weaker than its previous New York close. It was also softer against the euro at around 9.72 from 9.6027 late on Thursday.
Read more at Reuters Africa
The local currency was trading at 7.2095 to the dollar at 1520 GMT, 0.7 percent weaker than its previous New York close. It was also softer against the euro at around 9.72 from 9.6027 late on Thursday.
Read more at Reuters Africa
US STOCKS-Indexes flat, data offsets M&A optimism
(Reuters) - NEW YORK, April 13 - U.S. stocks were little changed on on Friday as signs of eroding consumer confidence offset optimism about a possible buyout of student-loan company Sallie Mae and positive earnings news.
Blue-chips were leading after drug maker Merck & Co. lifted its expectations for first-quarter and full-year profits and conglomerate General Electric Co. reported a rise in profit and reaffirmed its outlook.
Read more at Reuters.com Bonds News
Blue-chips were leading after drug maker Merck & Co. lifted its expectations for first-quarter and full-year profits and conglomerate General Electric Co. reported a rise in profit and reaffirmed its outlook.
Read more at Reuters.com Bonds News
Merck Shares Advance After Quarterly Profit Forecast Is Raised 13 Percent
(Bloomberg) -- Merck & Co.'s shares rose the most in 16 months after the drugmaker said first quarter profit jumped 13 percent, beating the drugmaker's forecast and analysts' estimates.
Earnings increased to 78 cents a share, or 34 percent more than expected, the Whitehouse Station, New Jersey-based company said in a statement yesterday. Merck's shares rose $3.27, or 7 percent, to $49.42 at 9:34 a.m. in New York Stock Exchange composite trading.
Read more at Bloomberg Stocks News
Earnings increased to 78 cents a share, or 34 percent more than expected, the Whitehouse Station, New Jersey-based company said in a statement yesterday. Merck's shares rose $3.27, or 7 percent, to $49.42 at 9:34 a.m. in New York Stock Exchange composite trading.
Read more at Bloomberg Stocks News
U.S. Treasuries Fall on Rising Inflation Expecations and a Weaker Dollar
(Bloomberg) -- Treasuries fell as expectations inflation will accelerate and the dollar will weaken made U.S. government securities less attractive.
Federal Reserve officials said this week they are focused on the risk of rising inflation. A private report showed consumers' expectations for inflation a year from now rose to 3.3 percent from 3 percent last month.
Read more at Bloomberg Bonds News
Federal Reserve officials said this week they are focused on the risk of rising inflation. A private report showed consumers' expectations for inflation a year from now rose to 3.3 percent from 3 percent last month.
Read more at Bloomberg Bonds News
IMF says Latam appetite for reform remains
(Reuters) - The IMF is monitoring Latin American credit growth, he added.
Regarding Latin America's largest economy Brazil, he said productivity and credit growth augurs well for sustained growth there.
Read more at Reuters.com Bonds News
Regarding Latin America's largest economy Brazil, he said productivity and credit growth augurs well for sustained growth there.
Read more at Reuters.com Bonds News
TREASURIES-Bonds fall after inflation expectations rise
(Reuters) - NEW YORK, April 13 - U.S. government bond prices fell on Friday, after a report showed consumers' inflation expectations jumped, reawakening investors' concerns the Fed might hold interest rates unchanged for many months.
That put bond investors back on alert that the Federal Reserve may have to hold interest rates unchanged for months before core inflation subsides enough to allow rate cuts.
Read more at Reuters.com Bonds News
That put bond investors back on alert that the Federal Reserve may have to hold interest rates unchanged for months before core inflation subsides enough to allow rate cuts.
Read more at Reuters.com Bonds News
Bank investing arms crowding buyout turf
(Reuters) - Such sentiments were expressed this week at the Reuters Hedge Funds and Private Equity Summit in New York, where several private equity executives addressed the growth in buyout investing by investment banks.
Wall Street, which earns billions of dollars in annual fees from buyout firms from advising and financing deals, shrunk or pulled out of buyout investing about four years ago, fearing it would pit them against their prized private equity clients.
Read more at Reuters.com Mergers News
Wall Street, which earns billions of dollars in annual fees from buyout firms from advising and financing deals, shrunk or pulled out of buyout investing about four years ago, fearing it would pit them against their prized private equity clients.
Read more at Reuters.com Mergers News
Chilean Couples Split Up in 18 Easy Payments, Warming to New Divorce Law
(Bloomberg) -- Chilean couples are getting divorced at an unprecedented rate as specialist law firms cut fees and offer easy payment through department-store credit cards.
In late 2004, the South American nation became the last in the Western Hemisphere to make divorce legal, overcoming a decade of opposition from the Roman Catholic Church, conservative groups and lawmakers.
Read more at Bloomberg Exclusive News
In late 2004, the South American nation became the last in the Western Hemisphere to make divorce legal, overcoming a decade of opposition from the Roman Catholic Church, conservative groups and lawmakers.
Read more at Bloomberg Exclusive News
Consumer sentiment at 8-month low: survey
(Reuters) - The April result was the lowest since 82.0 in August 2006 and marked the third straight fall in the index. The median forecast among analysts polled by Reuters was 87.5. The 63 forecasts ranged from 84.5 to 90.0.
"Consumer confidence declined in early April due to rising gas prices and falling home prices," a statement accompanying the Reuters/University of Michigan data said.
Read more at Reuters.com Business News
"Consumer confidence declined in early April due to rising gas prices and falling home prices," a statement accompanying the Reuters/University of Michigan data said.
Read more at Reuters.com Business News
Canadian Dollar Is Headed for Biggest Weekly Gain Since August on Economy
(Bloomberg) -- Canada's dollar headed for its biggest weekly gain since August on speculation higher commodity prices will support the nation's economy and fuel demand for the currency.
The currency reached a four-month high today. Firms including Goldman, Sachs & Co. predicted further gains in coming months, following a report a week ago showing job growth is accelerating.
Read more at Bloomberg Currencies News
The currency reached a four-month high today. Firms including Goldman, Sachs & Co. predicted further gains in coming months, following a report a week ago showing job growth is accelerating.
Read more at Bloomberg Currencies News
Dow Chemical May Become a Takeover Target After Liveris Fires Executives
(Bloomberg) -- Dow Chemical Co. may become a takeover target after Chief Executive Officer Andrew Liveris said he isn't interested in selling the largest U.S. chemical maker.
Liveris fired executives Pedro Reinhard and Romeo Kreinberg yesterday for holding unauthorized talks with possible private- equity bidders. Shares of Dow jumped 2 percent yesterday, giving the company a market value of $44.1 billion.
Read more at Bloomberg Exclusive News
Liveris fired executives Pedro Reinhard and Romeo Kreinberg yesterday for holding unauthorized talks with possible private- equity bidders. Shares of Dow jumped 2 percent yesterday, giving the company a market value of $44.1 billion.
Read more at Bloomberg Exclusive News
Japan monetary stance "appropriate" - IMF
(Reuters) - "It would be very bad for Japan and it would be very bad for the world economy if the recovery were to falter again and if the economy were to slip back into deflation," Burton said, adding that was an unlikely scenario but that the risk existed and "has to be guarded against."
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Trade gap narrows, core PPI holds steady
(Reuters) - The February trade gap fell to $58.4 billion, as crude oil imports fell sharply to the smallest in four years and average imported oil prices were the lowest since December 2005, a government report on Friday showed.
The Commerce Department also lowered its estimate of the January trade gap to $58.9 billion, from its previous estimate of $59.1 billion.
Read more at Reuters.com Business News
The Commerce Department also lowered its estimate of the January trade gap to $58.9 billion, from its previous estimate of $59.1 billion.
Read more at Reuters.com Business News
US STOCKS-Futures point higher after PPI; GE up
(Reuters) - NEW YORK, April 13 - U.S. stock futures rose on Friday, suggesting a higher market open, after government data showed producer prices, excluding food and energy, were unchanged in March, easing fears about inflation and higher interest rates.
General Electric Co. , whose businesses range from jet engines to the NBC television network, rose in electronic trading before the bell. The conglomerate reported a rise in profit that met Wall Street's expectations and reaffirmed its profit outlook for the year. For details, see [ID:nN13422560].
Read more at Reuters.com Bonds News
General Electric Co. , whose businesses range from jet engines to the NBC television network, rose in electronic trading before the bell. The conglomerate reported a rise in profit that met Wall Street's expectations and reaffirmed its profit outlook for the year. For details, see [ID:nN13422560].
Read more at Reuters.com Bonds News
McDonald's sales to drive strong profit; shares up
(Reuters) - McDonald's said it expected to report first-quarter earnings of about 62 cents per share, while analysts on average had forecast 57 cents, according to Reuters Estimates.
The company's shares rose 1.9 percent to $47.50 in early electronic trading.
Read more at Reuters.com Hot Stocks News
The company's shares rose 1.9 percent to $47.50 in early electronic trading.
Read more at Reuters.com Hot Stocks News
U.S. Stock-Index Futures Advance After Core Producer Prices Trail Forecast
(Bloomberg) -- U.S. stock-index futures gained after a government report showed wholesale prices excluding fuel and food were unexpectedly unchanged in March.
General Electric Co. advanced after the world's second- largest company by market value said first-quarter profit matched analysts' estimates. Merck & Co. climbed after the nation's third-biggest drugmaker boosted its first-quarter earnings forecast because of higher sales.
Read more at Bloomberg Stocks News
General Electric Co. advanced after the world's second- largest company by market value said first-quarter profit matched analysts' estimates. Merck & Co. climbed after the nation's third-biggest drugmaker boosted its first-quarter earnings forecast because of higher sales.
Read more at Bloomberg Stocks News
Stocks shortage drives copper rally
(Reuters) - Copper prices rebounded on Friday after losing ground in the previous session, underpinned by a fall in stocks of metal and a strong demand outlook.
Copper for delivery in three months on the London Metal Exchange rose by $65 to $7,755 a tonne after slipping almost 2 percent on Thursday.
Read more at Reuters Africa
Copper for delivery in three months on the London Metal Exchange rose by $65 to $7,755 a tonne after slipping almost 2 percent on Thursday.
Read more at Reuters Africa
Trade gap narrows unexpectedly
(Reuters) - The midpoint estimate of Wall Street analysts surveyed before the report was for the February trade gap to widen slightly to $60.0 billion. The smaller-than-expected trade gap could prompt analysts to raise their estimates of first-quarter U.S. economic growth.
The petroleum trade deficit was the smallest since June 2005, as crude oil import volume fell 21 percent to its lowest since February 2003 and prices dipped to $50.71 per barrel, from $52.23 in January.
Read more at Reuters.com Business News
The petroleum trade deficit was the smallest since June 2005, as crude oil import volume fell 21 percent to its lowest since February 2003 and prices dipped to $50.71 per barrel, from $52.23 in January.
Read more at Reuters.com Business News
Endesa's Vandellos Nuclear Plant to Stop Today to Repair Electric Switch
(Bloomberg) -- Endesa SA's Vandellos nuclear power plant in Spain will halt output at about 5 p.m. today to repair a fault, the operator said in an e-mailed statement.
The plant may resume output tomorrow, said a spokesman, who declined to be named, by phone. The unit is being stopped to repair an electric switch that connects it with the high-voltage power grid.
Read more at Bloomberg Energy News
The plant may resume output tomorrow, said a spokesman, who declined to be named, by phone. The unit is being stopped to repair an electric switch that connects it with the high-voltage power grid.
Read more at Bloomberg Energy News
Futures flat after GE earnings; PPI looms
(Reuters) - GE, whose businesses range from jet engines to the NBC television network, also reaffirmed its profit outlook for the year.
Producer prices data set for 8:30 a.m. ET could sway the direction of trading. The minutes released this week by the Federal Reserve from its March policy-setting meeting hinted at the need for more interest rate increases.
Read more at Reuters.com Business News
Producer prices data set for 8:30 a.m. ET could sway the direction of trading. The minutes released this week by the Federal Reserve from its March policy-setting meeting hinted at the need for more interest rate increases.
Read more at Reuters.com Business News
UPDATE 1-Cavium Networks IPO of 6.25 mln shares seen at $10-$12
(Reuters) - The California-based company said in an amended filing with the U.S Securities and Exchange Commission that Morgan Stanley & Co., Lehman Brothers, Thomas Weisel Partners LLC, Needham & Company LLC and JMP Securities LLC were underwriting the IPO.
The underwriters will have the option to buy an additional 937,500 shares to cover over-allotments.
Read more at Reuters.com Bonds News
The underwriters will have the option to buy an additional 937,500 shares to cover over-allotments.
Read more at Reuters.com Bonds News
Cobalt Price Forecast Raised 67 Percent by Credit Suisse as Demand Surges
(Bloomberg) -- Credit Suisse Group raised its price forecast for cobalt, a metal produced as a byproduct of copper and nickel, by 67 percent because of rising demand for the metal in the aerospace and gas-to-liquid industries.
Cobalt will average $25 a pound this year, compared with a previous forecast of $15, Switzerland's second-largest bank said in an April 12 report. Cobalt with 99.8 percent traded this week at $30.625, according to data from publisher Metal Bulletin. Prices may rise to $40 by the end of 2007, Credit Suisse said.
Read more at Bloomberg Commodities News
Cobalt will average $25 a pound this year, compared with a previous forecast of $15, Switzerland's second-largest bank said in an April 12 report. Cobalt with 99.8 percent traded this week at $30.625, according to data from publisher Metal Bulletin. Prices may rise to $40 by the end of 2007, Credit Suisse said.
Read more at Bloomberg Commodities News
Crude Oil Gains a Fourth Day as Refinery Shutdowns Curtail Gasoline Supply
(Bloomberg) -- Oil rose a fourth day on expectations U.S. gasoline consumption will spur demand for crude as stockpiles of the fuel decline.
Gasoline prices rose to an eight-month high as refineries shut down, curbing supplies before the summer driving season. Oil also gained after the International Energy Agency said stockpiles of crude oil in industrial nations fell by 1 million barrel a day last quarter, the biggest drop in the first quarter since 1996.
Read more at Bloomberg Energy News
Gasoline prices rose to an eight-month high as refineries shut down, curbing supplies before the summer driving season. Oil also gained after the International Energy Agency said stockpiles of crude oil in industrial nations fell by 1 million barrel a day last quarter, the biggest drop in the first quarter since 1996.
Read more at Bloomberg Energy News
FTSE rises, Barclays and oil stocks lead
(Reuters) - Britain's top share index rose on Friday, with Barclays leading and oil stocks benefiting from higher crude prices, while an upbeat U.S. session overnight also helped sentiment.
Barclays topped the FTSE 100 index with 1.2 percent gains on talk it is pulling out of its proposed merger with Dutch rival ABN AMRO and that JP Morgan is interested in bidding for the UK bank, traders said.
Read more at Reuters Africa
Barclays topped the FTSE 100 index with 1.2 percent gains on talk it is pulling out of its proposed merger with Dutch rival ABN AMRO and that JP Morgan is interested in bidding for the UK bank, traders said.
Read more at Reuters Africa
U.S. Stock-Index Futures Are Little Changed; Merck Gains, Apple Declines
(Bloomberg) -- U.S. stock-index futures were little changed before a government report that may show wholesale prices rose in March, reviving concern inflation is accelerating.
``The Fed will not cut interest rates as quickly as the market anticipated,'' said Ulrike Pfuhl, Frankfurt-based portfolio manager at JPMorgan Asset Management, which oversees $847 billion. ``Economic data is back in focus as central banks put the emphasis on fighting inflation.''
Read more at Bloomberg Stocks News
``The Fed will not cut interest rates as quickly as the market anticipated,'' said Ulrike Pfuhl, Frankfurt-based portfolio manager at JPMorgan Asset Management, which oversees $847 billion. ``Economic data is back in focus as central banks put the emphasis on fighting inflation.''
Read more at Bloomberg Stocks News
Altadis Credit-Default Swaps Rise on Reports CVC Preparing Takeover Bid
(Bloomberg) -- Altadis SA credit-default swaps rose amid reports that CVC Capital Partners Ltd. plans to bid for the Spanish maker of Gauloises cigarettes and Cohiba cigars.
London-based CVC will offer between 50 euros ($68) and 52 euros a share for the tobacco company, Spanish newspaper Negocio reported, citing unnamed people it said were close to the situation.
Read more at Bloomberg Bonds News
London-based CVC will offer between 50 euros ($68) and 52 euros a share for the tobacco company, Spanish newspaper Negocio reported, citing unnamed people it said were close to the situation.
Read more at Bloomberg Bonds News
Rand largely steady, seen holding firm
(Reuters) - South Africa's rand eased just slightly against the dollar in early Friday trade and was seen remaining largely steady, riding on high-yielding emerging market currencies that appear to be in favour at the moment.
At around 0700 GMT the rand traded at 7.1620 against the dollar, down only 0.08 percent from its close of 7.1565 in New York on Friday, recovering from an earlier low of 7.1720.
Read more at Reuters Africa
At around 0700 GMT the rand traded at 7.1620 against the dollar, down only 0.08 percent from its close of 7.1565 in New York on Friday, recovering from an earlier low of 7.1720.
Read more at Reuters Africa
Polo to buy Japanese licensees for $370 mln
(Reuters) - Polo Ralph Lauren also said it has entered into an agreement to purchase the remaining 50 percent interest in its Japanese master licensee, Polo Ralph Lauren Japan, for 2.7 billion yen
.
Read more at Reuters.com Mergers News
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Read more at Reuters.com Mergers News
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