(Bloomberg) -- The dollar fell for a fifth day against the euro on speculation slower U.S. inflation will spur investors to seek fixed-income assets in nations where interest rates are climbing.
The U.S. dollar dropped against 13 of the world's 16 major currencies after a government report yesterday showed consumer price gains eased, contrasting with the outlook for prices in countries including the U.K., Germany and New Zealand, where investors are betting on central bank rate increases.
Read more at Bloomberg Currencies News
Tuesday, April 17, 2007
British Pound Will Surge to Strongest in 26 Years, Brown Brothers Predicts
(Bloomberg) -- The British pound, having broken above $2, is set to extend its rally in coming weeks to the strongest since 1981, as central-bank buying of the currency propels it higher, according to Brown Brothers Harriman & Co.
Central banks will purchase pounds sterling as they diversify their swelling foreign-exchange reserves away from the U.S. dollar and as speculation of higher interest rates in the U.K. boosts returns on pound-denominated investments, said Marc Chandler, head of currency strategy at Brown Brothers.
Read more at Bloomberg Currencies News
Central banks will purchase pounds sterling as they diversify their swelling foreign-exchange reserves away from the U.S. dollar and as speculation of higher interest rates in the U.K. boosts returns on pound-denominated investments, said Marc Chandler, head of currency strategy at Brown Brothers.
Read more at Bloomberg Currencies News
Macquarie CountryWide Purchases Malls in Poland, Germany for $477 Million
(Bloomberg) -- Macquarie CountryWide Trust, an Australian real estate investment trust, agreed to buy shopping centers in Germany and Poland for 351 million euros ($477 million) in its first foray into Europe.
The purchases will be funded by debt, and about A$160 million ($134 million) in stock sales to institutional and existing investors, the Sydney-based company said in a statement today. The deal includes five malls in Poland and two in Germany.
Read more at Bloomberg Currencies News
The purchases will be funded by debt, and about A$160 million ($134 million) in stock sales to institutional and existing investors, the Sydney-based company said in a statement today. The deal includes five malls in Poland and two in Germany.
Read more at Bloomberg Currencies News
Platinum Little Changed After UBS Raises Forecasts; Tokyo Futures Decline
(Bloomberg) -- Platinum was little changed in Asia amid speculation the price of the metal will climb after analysts from UBS AG raised their forecast for the metal. Platinum futures in Tokyo declined on the firmer yen.
The price of platinum will rise to $1,350 an ounce in the next three months on expectations of increased investor demand, John Reade, head of metals strategy at the UBS Investment Bank unit in London, said in a report yesterday. The forecast was $50 higher than a previous estimate.
Read more at Bloomberg Commodities News
The price of platinum will rise to $1,350 an ounce in the next three months on expectations of increased investor demand, John Reade, head of metals strategy at the UBS Investment Bank unit in London, said in a report yesterday. The forecast was $50 higher than a previous estimate.
Read more at Bloomberg Commodities News
Carlyle to pay $12.6 mln for Japan chip firm stake
(Reuters) - Carlyle's investment in Nakaya Microdevices will be completed by the end of the month via a private placement.
Washington-based Carlyle has been looking for a deal in Japan to follow a 91.6 billion yen management buyout it led with Unison Capital of a Toshiba chip wafer unit.
Read more at Reuters.com Mergers News
Washington-based Carlyle has been looking for a deal in Japan to follow a 91.6 billion yen management buyout it led with Unison Capital of a Toshiba chip wafer unit.
Read more at Reuters.com Mergers News
U.S. Notes May Rise a Third Day on Speculation Inflation Will Slow Further
(Bloomberg) -- U.S. Treasuries may rise for a third day on speculation inflation will slow, giving the Federal Reserve more scope to lower borrowing costs to boost the economy.
Yields on 10-year U.S. notes dropped by the most since March 13 yesterday as traders raised bets the Fed will cut its benchmark interest rate by its Aug. 7 meeting, after data showed consumer prices eased last month. Bonds prices had fallen last week after minutes from the central bank's March 21 meeting showed policy makers were more concerned about inflation than a moderation in growth.
Read more at Bloomberg Bonds News
Yields on 10-year U.S. notes dropped by the most since March 13 yesterday as traders raised bets the Fed will cut its benchmark interest rate by its Aug. 7 meeting, after data showed consumer prices eased last month. Bonds prices had fallen last week after minutes from the central bank's March 21 meeting showed policy makers were more concerned about inflation than a moderation in growth.
Read more at Bloomberg Bonds News
Gibraltar, KeyCorp, Jos. A. Bank, McMoRan Exploration: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 2:40 p.m. in New York.
24/7 Real Media Inc. (TFSM US) fell $1.08, or 11 percent, to $8.41 and traded as low as $8.32. The provider of Internet advertising services was cut to ``sector perform'' from ``top pick'' at RBC Capital Markets on expectations of a ``weak'' first quarter and problems related to the introduction of Open AdStream in Europe.
Read more at Bloomberg Stocks News
24/7 Real Media Inc. (TFSM US) fell $1.08, or 11 percent, to $8.41 and traded as low as $8.32. The provider of Internet advertising services was cut to ``sector perform'' from ``top pick'' at RBC Capital Markets on expectations of a ``weak'' first quarter and problems related to the introduction of Open AdStream in Europe.
Read more at Bloomberg Stocks News
US FDA approves Sanofi bird flu vaccine
(Reuters) - The vaccine is the first with U.S. approval to prevent people from becoming infected with the H5N1 bird flu virus, the Food and Drug Administration said. H5N1 has killed birds and people in other countries and raised fears of a pandemic.
) Keywords: SANOFI BIRDFLU/
Read more at Reuters.com Government Filings News
) Keywords: SANOFI BIRDFLU/
Read more at Reuters.com Government Filings News
ABN AMRO agrees to talk to RBS, Fortis, Santander
(Reuters) - ABN AMRO said in a statement it received a letter from the three banks on April 13 and "has invited all signatories to a meeting in Amsterdam early next week to seek clarification of their intentions and interests".
Royal Bank of Scotland Plc, Belgian-Dutch group Fortis and Spain's Santander asked the Dutch bank last week to consider takeover talks, which would entail a break-up of ABN's extensive global retail and wholesale banking operations.
Read more at Reuters.com Mergers News
Royal Bank of Scotland Plc, Belgian-Dutch group Fortis and Spain's Santander asked the Dutch bank last week to consider takeover talks, which would entail a break-up of ABN's extensive global retail and wholesale banking operations.
Read more at Reuters.com Mergers News
EMI had 16.1 pct UK market share in Q1-data
(Reuters) - The UK has traditionally been one of EMI's strongest markets but a recent unsourced media report suggested its share there had fallen to 6 percent.
The data putting EMI, the world's third largest music group, at 16.1 percent was produced by the Official UK Charts Company and seen by Reuters. The Charts Company does not make public its data and refused to comment about it when asked. Two other independent sources confirmed the data to be correct, however.
Read more at Reuters.com Mergers News
The data putting EMI, the world's third largest music group, at 16.1 percent was produced by the Official UK Charts Company and seen by Reuters. The Charts Company does not make public its data and refused to comment about it when asked. Two other independent sources confirmed the data to be correct, however.
Read more at Reuters.com Mergers News
TREASURIES-Receding core inflation revitalizes bond bulls
(Reuters) - NEW YORK, April 17 - U.S. government bond prices rallied on Tuesday after data showed underlying inflation eased last month, suggesting the Federal Reserve has room to cut interest rates if economic growth slows appreciably.
Relief was palpable among bond bulls after consumer prices outside of food and energy grew just 2.5 percent in the year to March, down from 2.7 percent in February.
Read more at Reuters.com Bonds News
Relief was palpable among bond bulls after consumer prices outside of food and energy grew just 2.5 percent in the year to March, down from 2.7 percent in February.
Read more at Reuters.com Bonds News
Rand touches 3-mth high as dollar slips
(Reuters) - The South African rand touched three-month highs against the dollar on Tuesday as soft U.S. inflation data weighed on the greenback, but a sustained rally hinges on overseas market trends, traders said.
At 1500 GMT the rand was at 7.0690/dollar, up 0.56 percent from New York's closing level of 7.1090 on Monday, though it gave up earlier gains which took it briefly to 7.05, its strongest level since January 4.
Read more at Reuters Africa
At 1500 GMT the rand was at 7.0690/dollar, up 0.56 percent from New York's closing level of 7.1090 on Monday, though it gave up earlier gains which took it briefly to 7.05, its strongest level since January 4.
Read more at Reuters Africa
UPDATE 1-Catalina to be acquired by private equity firm
(Reuters) - The deal, valued at $1.7 billion including about $136 million of debt, is 40 cents per share higher than the bid made by Catalina's largest shareholder, ValueAct Capital.
Catalina said it terminated its earlier merger deal with ValueAct and paid an $8.44 million termination fee as required by the terms of that agreement.
Read more at Reuters.com Bonds News
Catalina said it terminated its earlier merger deal with ValueAct and paid an $8.44 million termination fee as required by the terms of that agreement.
Read more at Reuters.com Bonds News
Wheat Rises to 7-Week High in Chicago as Midwest Freeze Damaged U.S. Crop
(Bloomberg) -- Wheat rose to a seven-week high in Chicago after a government report showed freezing weather damaged some of the crop in the U.S., the world's largest exporter of the grain.
About 55 percent of the winter wheat crop was in good or excellent condition on April 15, down from 64 percent a week earlier, the U.S. Department of Agriculture said yesterday in a report. Temperatures dropped as low as 17 degrees Fahrenheit (minus 8 Celsius) in parts of Kansas on April 7. Damage occurs if temperatures fall below 28 degrees for two hours.
Read more at Bloomberg Commodities News
About 55 percent of the winter wheat crop was in good or excellent condition on April 15, down from 64 percent a week earlier, the U.S. Department of Agriculture said yesterday in a report. Temperatures dropped as low as 17 degrees Fahrenheit (minus 8 Celsius) in parts of Kansas on April 7. Damage occurs if temperatures fall below 28 degrees for two hours.
Read more at Bloomberg Commodities News
Copper Rises on Possible Strike at Grasberg, Jump in U.S. Housing Starts
(Bloomberg) -- Copper rose for a third session in New York on concern that labor disputes will exacerbate shrinking supplies of the metal at a time when demand may be increasing, as signaled by an unexpected jump in U.S. housing starts.
Workers at Freeport-McMoRan Copper & Gold Inc.'s Grasberg mine in Indonesia, the world's second-biggest source of copper, canceled talks with the company today and are planning to rally for higher wages tomorrow. Global stockpiles of the metal declined 1 percent, the biggest daily drop since March 23.
Read more at Bloomberg Commodities News
Workers at Freeport-McMoRan Copper & Gold Inc.'s Grasberg mine in Indonesia, the world's second-biggest source of copper, canceled talks with the company today and are planning to rally for higher wages tomorrow. Global stockpiles of the metal declined 1 percent, the biggest daily drop since March 23.
Read more at Bloomberg Commodities News
U.S. Stocks Advance on Inflation and Housing Data; J&J, Coca-Cola Climb
(Bloomberg) -- U.S. stocks advanced, extending the April rally, after inflation rose less than forecast, housing starts gained and earnings beat analysts' estimates.
Johnson & Johnson climbed for a 10th day, its longest streak since January 1990, after acquisitions buoyed profit. Coca-Cola Co. rose to the highest since June 2004 after its biggest sales gain in at least nine years boosted first-quarter net income. The two stocks led the Dow Jones Industrial Average to within 25 points of a record.
Read more at Bloomberg Stocks News
Johnson & Johnson climbed for a 10th day, its longest streak since January 1990, after acquisitions buoyed profit. Coca-Cola Co. rose to the highest since June 2004 after its biggest sales gain in at least nine years boosted first-quarter net income. The two stocks led the Dow Jones Industrial Average to within 25 points of a record.
Read more at Bloomberg Stocks News
US blue chips open higher on CPI, profits
(Reuters) - U.S. blue-chip stocks edged higher after the open on Tuesday, helped by data showing tamer March consumer prices, excluding food and energy, and stronger-than-expected profits at Dow components Coca-Cola Co.
and Johnson & Johnson.
Read more at Reuters Africa
and Johnson & Johnson.
Read more at Reuters Africa
IFC plans 5-year global dollar bond -leads
(Reuters) - The IFC, part of the World Bank group and a lender to private companies in developing country economies, is rated triple-A by Moody's Investors Service and Standard & Poor's.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Virginia Tech statement on killings
(Reuters) - The individual has been identified as Cho Seung-Hui, 23. Cho was enrolled as an undergraduate student in his senior year as an English major at Virginia Tech. Cho, a South Korean native, was in the U.S. as a resident alien with a residence established in Centerville, Va. Cho was living on campus in Harper Residence Hall.
A 9-millimeter handgun and 22-caliber handgun were recovered from Norris Hall. Ballistic tests on the evidence seized from the Norris Hall and the West Ambler Johnston Residence Hall scenes were conducted at the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives lab in Maryland. Lab results confirmed that one of the two weapons seized in Norris Hall was used in both shootings.
Read more at Reuters.com Bonds News
A 9-millimeter handgun and 22-caliber handgun were recovered from Norris Hall. Ballistic tests on the evidence seized from the Norris Hall and the West Ambler Johnston Residence Hall scenes were conducted at the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives lab in Maryland. Lab results confirmed that one of the two weapons seized in Norris Hall was used in both shootings.
Read more at Reuters.com Bonds News
Emerging debt-Prices at new highs after benign US data
(Reuters) - Brazil's global bond due 2040 , the most liquid emerging market paper, rose 0.312 point to be bid at an all-time high of 135.375.
Overall emerging market returns climbed 0.13 percent on the benchmark JP Morgan's EMBI+ index . Yield spreads over U.S. Treasury notes widened 2 basis points, however, as high-yielding bonds tried to catch up with a Treasuries rally.
Read more at Reuters.com Bonds News
Overall emerging market returns climbed 0.13 percent on the benchmark JP Morgan's EMBI+ index . Yield spreads over U.S. Treasury notes widened 2 basis points, however, as high-yielding bonds tried to catch up with a Treasuries rally.
Read more at Reuters.com Bonds News
Beckman Coulter's Biosite deal clears hurdle
(Reuters) - San Diego-based Biosite said the Hart-Scott-Rodino period expired without an additional request for information from the U.S. Federal Trade Commission. Beckman Coulter previously announced a tender offer to acquire all of Biosite common stock for $85.00 in cash per share.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Brazil Real Rises on Bets Yield Differential With U.S. to Stay Attractive
(Bloomberg) -- Brazil's currency gained after better-than-expected inflation data in the U.S. boosted speculation the yield offered on local assets will continue attracting foreign investors.
``The inflation data in the U.S. was good news, reaffirming the case for Brazilian assets: interesting returns because our real rates are so high, with low risk, as inflation is low,'' said Paulo Augusto Saba, senior treasury manager at BES Investimento do Brasil SA in Sao Paulo.
Read more at Bloomberg Currencies News
``The inflation data in the U.S. was good news, reaffirming the case for Brazilian assets: interesting returns because our real rates are so high, with low risk, as inflation is low,'' said Paulo Augusto Saba, senior treasury manager at BES Investimento do Brasil SA in Sao Paulo.
Read more at Bloomberg Currencies News
Merck submits application for new Gardasil use
(Reuters) - Gardasil vaccinates against a virus responsible for causing cervical cancer. The company said the U.S. Food and Drug Administration will determine whether it will accept Merck's new application for review within 60 days of its submission.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
OSI 1st-quarter profit falls more than expected
(Reuters) - Profit fell to $27.6 million, or 36 cents per share, from $32.2 million, or 42 cents per share, a year earlier.
Excluding certain one-time items, OSI earned 43 cents per share, down from 50 cents a year earlier.
Read more at Reuters.com Market News
Excluding certain one-time items, OSI earned 43 cents per share, down from 50 cents a year earlier.
Read more at Reuters.com Market News
Italy Is Favored to Host Soccer's Euro 2012 Over Former Soviet-Bloc Bids
(Bloomberg) -- Soccer officials will choose between bad roads in the former Soviet Bloc and unruly fans in Italy when they decide the site of the 2012 European Championship.
UEFA, the sport's governing body for Europe, will consider three bids tomorrow. Hungary and Croatia are offering one joint plan and Poland and Ukraine another. Italy, where fans killed a police officer in February, is the bookmakers' choice at 1-3.
Read more at Bloomberg Exclusive News
UEFA, the sport's governing body for Europe, will consider three bids tomorrow. Hungary and Croatia are offering one joint plan and Poland and Ukraine another. Italy, where fans killed a police officer in February, is the bookmakers' choice at 1-3.
Read more at Bloomberg Exclusive News
Canadian Stocks May Advance on BCE Talks, U.S. Inflation, Housing Reports
(Bloomberg) -- Canadian telephone stocks may rise after BCE Inc. said it's in talks with several large investors about going private, in what would be the country's biggest buyout ever.
Canadian stocks also may benefit from slower-than-expected inflation in the U.S., which may give the Federal Reserve more leeway to cut interest rates, and housing starts that were stronger than estimated.
Read more at Bloomberg Stocks News
Canadian stocks also may benefit from slower-than-expected inflation in the U.S., which may give the Federal Reserve more leeway to cut interest rates, and housing starts that were stronger than estimated.
Read more at Bloomberg Stocks News
Futures rise after tame core CPI data
(Reuters) - inflation measure rose less than expected in March, while consumer bellwether Coca-Cola Co. reported strong earnings.
Shares of Coca-Cola and health-care company Johnson & Johnson , also a Dow component, rose before the opening bell after they reported profits that beat Wall Street estimates.
Read more at Reuters.com Business News
Shares of Coca-Cola and health-care company Johnson & Johnson , also a Dow component, rose before the opening bell after they reported profits that beat Wall Street estimates.
Read more at Reuters.com Business News
Swiss Franc Gains Versus Euro for First Time in Week as Retail Sales Surge
(Bloomberg) -- The Swiss franc gained versus the euro for the first day in a week after a government report showed retail sales increased in February by more than forecast, boosting the case for higher interest rates.
Sales, adjusted for inflation and the number of shopping days, gained 4.5 percent from a year earlier after 5.1 percent in January, the Federal Statistics Office in Neuchatel said today. Economists in a Bloomberg News survey forecast a rise of 4 percent. The currency rebounded yesterday after central bank President Jean-Pierre Roth said its fall was unjustified.
Read more at Bloomberg Currencies News
Sales, adjusted for inflation and the number of shopping days, gained 4.5 percent from a year earlier after 5.1 percent in January, the Federal Statistics Office in Neuchatel said today. Economists in a Bloomberg News survey forecast a rise of 4 percent. The currency rebounded yesterday after central bank President Jean-Pierre Roth said its fall was unjustified.
Read more at Bloomberg Currencies News
Central European Stocks Decline, Led by Komercni Banka and Telekomunikacja
(Bloomberg) -- Central European benchmark indexes fell from records reached yesterday, paced by Komercni Banka AS, the third-biggest lender in the Czech Republic.
Shares of Telekomunikacja Polska SA, Poland's former phone monopoly, also declined.
Read more at Bloomberg Emerging Markets News
Shares of Telekomunikacja Polska SA, Poland's former phone monopoly, also declined.
Read more at Bloomberg Emerging Markets News
UPDATE 1-PPL to sell Bolivian subsidiaries
(Reuters) - Financial terms of the deal were not released, but PPL said it expects to record an unusual after-tax impairment charge in the first quarter of $19 million to $26 million, or 5 cents to 6 cents per share.
Allentown, Pennsylvania-based PPL said last month it would seek to sell its regulated electricity delivery operations in Bolivia, Chile and El Salvador, which together contributed about 5 percent of its annual earnings.
Read more at Reuters.com Bonds News
Allentown, Pennsylvania-based PPL said last month it would seek to sell its regulated electricity delivery operations in Bolivia, Chile and El Salvador, which together contributed about 5 percent of its annual earnings.
Read more at Reuters.com Bonds News
Marshall & Ilsley 1st-qtr profit rises 25 pct
(Reuters) - Analysts were expecting earnings of 83 cents before extraordinary items.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Japan mulls merger of Tokyo bourse, commodities
(Reuters) - Under the proposal by private-sector members of Prime Minister Shinzo Abe's Council on Economic and Fiscal Policy, exchanges such as the Tokyo Commodity Exchange and the Tokyo Grain Exchange would join forces with the world's second-largest stock exchange.
By linking the exchanges and transforming the Tokyo bourse into a cross-market investment centre, the plan's backers hope to make Japanese capital markets more competitive as other exchanges around the world continue to join forces.
Read more at Reuters.com Government Filings News
By linking the exchanges and transforming the Tokyo bourse into a cross-market investment centre, the plan's backers hope to make Japanese capital markets more competitive as other exchanges around the world continue to join forces.
Read more at Reuters.com Government Filings News
U.S. Stock Futures Drop Before Consumer Price Report; IBM, Intel Decline
(Bloomberg) -- U.S. stock-index futures dropped before a report that may show consumer prices rose the most in almost a year, giving the Federal Reserve less leeway to lower interest rates.
Consumer prices probably climbed 0.6 percent last month, the most since April 2006, according to the median forecast of economists surveyed by Bloomberg News. Fed officials said in minutes from their last policy meeting that higher borrowing costs may be needed to reduce inflation and gave no hint of a rate cut.
Read more at Bloomberg Stocks News
Consumer prices probably climbed 0.6 percent last month, the most since April 2006, according to the median forecast of economists surveyed by Bloomberg News. Fed officials said in minutes from their last policy meeting that higher borrowing costs may be needed to reduce inflation and gave no hint of a rate cut.
Read more at Bloomberg Stocks News
OSI Restaurant Partners 1st-quarter profit falls
(Reuters) - OSI said it earned 43 cents per share on an adjusted basis, down from 50 cents a year earlier.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Canada's Dollar Trades Near a Four-Month High Ahead of Factory Report
(Bloomberg) -- Canada's dollar was little changed, trading at the highest in more than four months, before a report that may show factory shipments declined for a second month.
Traders were also waiting for the U.S. March consumer inflation report, which will probably show inflation in the world's largest economy accelerated in March.
Read more at Bloomberg Currencies News
Traders were also waiting for the U.S. March consumer inflation report, which will probably show inflation in the world's largest economy accelerated in March.
Read more at Bloomberg Currencies News
Jean Coutu's profit helped by one-time items
(Reuters) - TORONTO, April 17 - The Jean Coutu Group reported a higher third-quarter profit on Tuesday, as the pharmacy chain benefited from a reversed impairment loss on its U.S. assets.
Coutu, which agreed last year to sell its U.S. Brooks and Eckerd chains to Rite Aid Corp. for about $2.6 billion in cash and shares, earned $184 million, or 70 cents a share, up from a profit of $31.6 million, or 12 cents a share, in the same period a year earlier.
Read more at Reuters.com Market News
Coutu, which agreed last year to sell its U.S. Brooks and Eckerd chains to Rite Aid Corp. for about $2.6 billion in cash and shares, earned $184 million, or 70 cents a share, up from a profit of $31.6 million, or 12 cents a share, in the same period a year earlier.
Read more at Reuters.com Market News
Copper Extends Gains on Strike Threat After Mine Workers' Meeting Canceled
(Bloomberg) -- Copper rose for a third consecutive session in London after a meeting between the management of Indonesia's Grasberg mine and a worker's group was canceled, raising the threat of a work stoppage at the world's second- largest copper mine.
Copper for delivery in three months on the London Metal Exchange gained $19, or 0.3 percent, to $7,749 a ton as of 12:12 p.m. local time. The contract earlier fell as much as 0.8 percent to $7,665 a ton.
Read more at Bloomberg Commodities News
Copper for delivery in three months on the London Metal Exchange gained $19, or 0.3 percent, to $7,749 a ton as of 12:12 p.m. local time. The contract earlier fell as much as 0.8 percent to $7,665 a ton.
Read more at Bloomberg Commodities News
UPDATE 1-Coca-Cola reports higher first-quarter profit
(Reuters) - NEW YORK, April 17 - Coca-Cola Co. , the world's largest beverage company, on Tuesday reported higher quarterly profit that beat Wall Street estimates as strength in emerging markets overshadowed weakness in North America.
Net income for the first quarter ended March 30 rose 14 percent to $1.26 billion, or 54 cents per share, from $1.11 billion, or 47 cents per share, a year earlier.
Read more at Reuters.com Market News
Net income for the first quarter ended March 30 rose 14 percent to $1.26 billion, or 54 cents per share, from $1.11 billion, or 47 cents per share, a year earlier.
Read more at Reuters.com Market News
Germany's DAX Index Slides, led by BMW, Siemens; Premiere Shares Jump
(Bloomberg) -- Germany's benchmark DAX Index fell after yesterday touching its highest since September 2000. Bayerische Motoren Werke AG and Siemens AG led the decline.
Premiere AG jumped after Deutsche Bank AG raised its recommendation on the shares.
Read more at Bloomberg Stocks News
Premiere AG jumped after Deutsche Bank AG raised its recommendation on the shares.
Read more at Bloomberg Stocks News
Heineken says expecting EU fine on Wednesday
(Reuters) - AMSTERDAM, April 17 - Dutch brewer Heineken NV said on Tuesday it expected to be fined by the European Commission on Wednesday for violating competition laws.
"This is a long-running case. We haven't received any information but we are expecting a fine on Wednesday," a spokeswoman for Heineken said.
Read more at Reuters.com Government Filings News
"This is a long-running case. We haven't received any information but we are expecting a fine on Wednesday," a spokeswoman for Heineken said.
Read more at Reuters.com Government Filings News
ABN wants 35 euros or more from Barclays-sources
(Reuters) - The talks between Barclays and ABN have been clouded by the emergence of interest from a consortium of Britain's Royal Bank of Scotland , Spain's Santander and Dutch-Belgian group Fortis which said on Friday it wanted access to ABN's books and management.
ABN AMRO is also likely to seek more details from the Royal Bank of Scotland-led consortium on its bid plans -- such as an indicative price or structure -- as early as later this week as it tries to decide whether to open its books to the trio, sources familar with matter said.
Read more at Reuters.com Bonds News
ABN AMRO is also likely to seek more details from the Royal Bank of Scotland-led consortium on its bid plans -- such as an indicative price or structure -- as early as later this week as it tries to decide whether to open its books to the trio, sources familar with matter said.
Read more at Reuters.com Bonds News
Massmart appoints new head of unit
(Reuters) - South African retailer Massmart on Tuesday said it had appointed Jan Potgieter as managing director of its Massdiscounters unit with immediate effect.
Massmart said Potgieter would report to its group chief executive designate, Grant Pattison, and be appointed a member of its executive committee.
Read more at Reuters Africa
Massmart said Potgieter would report to its group chief executive designate, Grant Pattison, and be appointed a member of its executive committee.
Read more at Reuters Africa
Greece's ASE Declines; Public Power Corp., Minoan Airlines Lead Drop
(Bloomberg) -- Greek stocks fell for the first time in three days. Public Power Corp. fell after broker Eurocorp cut its price estimate for the shares.
The benchmark ASE Index retreated 26.50, or 0.5 percent, to 4839.47 at 12:05 p.m. in Athens as 34 shares fell, 21 gained and five were unchanged. The FTSE/ASE 20 Index of the country's biggest companies slipped 0.6 percent to 2594.77. The Cypriot General Index rose 0.3 percent to 4453.87.
Read more at Bloomberg Stocks News
The benchmark ASE Index retreated 26.50, or 0.5 percent, to 4839.47 at 12:05 p.m. in Athens as 34 shares fell, 21 gained and five were unchanged. The FTSE/ASE 20 Index of the country's biggest companies slipped 0.6 percent to 2594.77. The Cypriot General Index rose 0.3 percent to 4453.87.
Read more at Bloomberg Stocks News
South African Rand Trades Near Highest in Seven Weeks as Gold Price Gains
(Bloomberg) -- The South African rand traded near its highest in seven weeks as gold, the nation's single largest source of foreign exchange, touched an 11-month high, boosting demand for the currency.
The rand advanced with other emerging market currencies as prospects for higher growth boosted demand for high yielding assets. Gold accounts for about 13 percent of exports in the economy, the largest in Africa, and the rand often moves in tandem with the precious metal.
Read more at Bloomberg Currencies News
The rand advanced with other emerging market currencies as prospects for higher growth boosted demand for high yielding assets. Gold accounts for about 13 percent of exports in the economy, the largest in Africa, and the rand often moves in tandem with the precious metal.
Read more at Bloomberg Currencies News
U.K. FTSE 100 Index Falls, Led by Experian, Hammerson; Debenhams Tumbles
(Bloomberg) -- U.K. stocks fell for the first time in four days, led by Experian Group Plc and Hammerson Plc. BHP Billiton paced a drop in the shares of mining companies.
Debenhams Plc, Britain's second-largest department-store company, slumped the most since it began trading last year after saying full-year earnings will be below analysts' estimates.
Read more at Bloomberg Stocks News
Debenhams Plc, Britain's second-largest department-store company, slumped the most since it began trading last year after saying full-year earnings will be below analysts' estimates.
Read more at Bloomberg Stocks News
European shares hobbled by Telecom Italia, euro
(Reuters) - European shares slipped on Tuesday, as a drop in Telecom Italia weighed on the broader market and the euro held near two-year highs against the dollar.
After shares hit a six-and-a-half year closing high on Monday, investors exercised caution ahead of U.S. inflation data and the ZEW survey of German economic sentiment.
Read more at Reuters Africa
After shares hit a six-and-a-half year closing high on Monday, investors exercised caution ahead of U.S. inflation data and the ZEW survey of German economic sentiment.
Read more at Reuters Africa
Kenya telecoms players seek shareholding rule change
(Reuters) - Kenya will have to change its rules on shareholding caps for foreign investors in the telecoms sector in order for the country to get a second national operator soon, to boost competition, analysts said on Tuesday.
Kenyan law requires that 30 percent of telecoms firms be in local hands. This has led to the cancellation of two new licences and a legal tussle among the foreign and local shareholders in the country's third mobile phone operator.
Read more at Reuters Africa
Kenyan law requires that 30 percent of telecoms firms be in local hands. This has led to the cancellation of two new licences and a legal tussle among the foreign and local shareholders in the country's third mobile phone operator.
Read more at Reuters Africa
Apax contacts Gestair for joint Iberia bid -paper
(Reuters) - "Gestair believes Iberia has a lot of potential and would be a good investment in the medium term although it is waiting for a formal proposal from Apax," the sources told the newspaper.
Apax could gain from securing a Spanish partner since Iberia's rights to fly to Latin America are based on the majority of Iberia's capital remaining Spanish, the paper said.
Read more at Reuters.com Mergers News
Apax could gain from securing a Spanish partner since Iberia's rights to fly to Latin America are based on the majority of Iberia's capital remaining Spanish, the paper said.
Read more at Reuters.com Mergers News
U.K. Stocks Fall, Led by Experian, Hammerson; BHP Billiton Shares Drop
(Bloomberg) -- U.K. stocks declined, led by Experian Group Plc and Hammerson Plc. BHP Billiton paced a drop in the shares of mining companies.
The benchmark FTSE 100 Index fell 26.60, or 0.4 percent, to 6489.60 at 8:23 a.m. The FTSE All-Share Index lost 0.4 percent to 3374.01. Ireland's ISEQ Index dropped less than 0.1 percent to 9694.92.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index fell 26.60, or 0.4 percent, to 6489.60 at 8:23 a.m. The FTSE All-Share Index lost 0.4 percent to 3374.01. Ireland's ISEQ Index dropped less than 0.1 percent to 9694.92.
Read more at Bloomberg Stocks News
French Stocks Decline; L'Oreal, Danone and BNP Paribas Lead the Retreat
(Bloomberg) -- French stocks fell, led by L'Oreal SA, Groupe Danone SA and BNP Paribas SA.
The CAC 40 Index lost 23.47, or 0.4 percent, to 5838.50 at 9:07 a.m. in Paris. The SBF 120 Index also dropped 0.4 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index lost 23.47, or 0.4 percent, to 5838.50 at 9:07 a.m. in Paris. The SBF 120 Index also dropped 0.4 percent.
Read more at Bloomberg Stocks News
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