(Reuters) - The opposition is related to Caremark Rx Inc.'s sale to CVS Corp. last month and a probe into the backdating of stock options at Caremark, the Journal said.
Caremark said last May it was being investigated by U.S. authorities over possible options backdating. Caremark later said it properly awarded stock options.
Read more at Reuters.com Mergers News
Sunday, April 22, 2007
Australian Mining Stocks Advance, Led by BHP Billiton, Rio: Banks Decline
(Bloomberg) -- Australian mining stocks rose, led by BHP Billiton Ltd. and Rio Tinto Group, as metals prices increased.
St George Bank Ltd. led banks lower on concern last week's gains outstripped their earnings potential.
Read more at Bloomberg Stocks News
St George Bank Ltd. led banks lower on concern last week's gains outstripped their earnings potential.
Read more at Bloomberg Stocks News
Yen recovers on S&P upgrade, maturing euro bonds
(Reuters) - The yen recovered broadly on Monday, pulling further away from a record low hit against the euro last week as an upgrade in Japan's sovereign rating and maturing euro bonds spurred investors to buy back the currency.
The yen rose to the day's highs against the euro as traders cited Japanese investors repatriating funds before a large 32 billion euros' worth of French government bond redemptions and coupon payments this week.
Read more at Reuters Africa
The yen rose to the day's highs against the euro as traders cited Japanese investors repatriating funds before a large 32 billion euros' worth of French government bond redemptions and coupon payments this week.
Read more at Reuters Africa
Gold Rises to 11-Month High in Asia on Dollar's Weakness; Silver Declines
(Bloomberg) -- Gold rose to its highest level in more than 11 months as a weak U.S. dollar underpinned investor demand. Silver was little changed.
Gold generally moves in the opposite direction of the dollar which dropped to a 27-month low against the euro on April 20 amid speculation the U.S. interest rate advantage over Europe will narrow. Gold rose 1.3 percent on the same day. The dollar has fallen more than 10 percent versus the euro in the past year.
Read more at Bloomberg Commodities News
Gold generally moves in the opposite direction of the dollar which dropped to a 27-month low against the euro on April 20 amid speculation the U.S. interest rate advantage over Europe will narrow. Gold rose 1.3 percent on the same day. The dollar has fallen more than 10 percent versus the euro in the past year.
Read more at Bloomberg Commodities News
Philippine Bonds Rise as March Budget Deficit Widens More Than Expected
(Bloomberg) -- Philippine government bonds rose after the government reported the biggest monthly budget deficit since at least 1994 and the worst in President Gloria Arroyo's term in office. The peso weakened.
Arroyo is trying to boost revenue to end a decade of annual deficits this year, where the government is spending more than it can generate from the economy. Failure to meet the targeted shortfall this year will cause yields to rise, said Jonathan Ravelas, a market strategist at Banco de Oro in Manila. The yield on the three-year bonds gained to the highest in a month.
Read more at Bloomberg Bonds News
Arroyo is trying to boost revenue to end a decade of annual deficits this year, where the government is spending more than it can generate from the economy. Failure to meet the targeted shortfall this year will cause yields to rise, said Jonathan Ravelas, a market strategist at Banco de Oro in Manila. The yield on the three-year bonds gained to the highest in a month.
Read more at Bloomberg Bonds News
Thailand's Baht to Drop 6% by September on Interest Rate Cuts, Calyon Says
(Bloomberg) -- Thailand's baht, which last month rose to a nine-year high, will drop 6 percent by September as the central bank cuts interest rates to boost growth, said Calyon, the investment banking unit of Credit Agricole SA.
The Thai central bank, which introduced unsuccessful currency controls in December, has lowered the key interest rate three times this year and signaled it may reduce borrowing costs further, as confidence slides on terrorist attacks and investment curbs. The military took power last September, ousting Prime Minister Thaksin Shinawatra, whom they accused of corruption.
Read more at Bloomberg Currencies News
The Thai central bank, which introduced unsuccessful currency controls in December, has lowered the key interest rate three times this year and signaled it may reduce borrowing costs further, as confidence slides on terrorist attacks and investment curbs. The military took power last September, ousting Prime Minister Thaksin Shinawatra, whom they accused of corruption.
Read more at Bloomberg Currencies News
Yen Reverses Decline as Standard & Poor's Upgrades Japan's Credit Rating
(Bloomberg) -- The yen reversed declines against the dollar and the euro after Standard & Poor's raised its debt rating for Japan on government efforts to balance the budget.
The yen gained against 14 of the 16 most-active currencies after S&P lifted Japan's rating one level to AA from AA-, the first increase by the company since 1975. Optimism about the Japanese economy may make it easier for the Bank of Japan to raise interest rates.
Read more at Bloomberg Bonds News
The yen gained against 14 of the 16 most-active currencies after S&P lifted Japan's rating one level to AA from AA-, the first increase by the company since 1975. Optimism about the Japanese economy may make it easier for the Bank of Japan to raise interest rates.
Read more at Bloomberg Bonds News
Tepid growth expected later this year: survey
(Reuters) - The National Association for Business Economics survey of business conditions also found that mortgage defaults forecast later in the year were expected to have a negative impact on their business in the next six months.
Nearly a third of the 107 businesses across all major industry sectors surveyed between March 26 and April 10 said mortgage defaults would have such an impact.
Read more at Reuters.com Bonds News
Nearly a third of the 107 businesses across all major industry sectors surveyed between March 26 and April 10 said mortgage defaults would have such an impact.
Read more at Reuters.com Bonds News
German Business Confidence Probably Increased for a Second Month in April
(Bloomberg) -- German business confidence probably rose for a second month in April, indicating growth in Europe's largest economy may accelerate, a survey of economists shows.
The Ifo institute's sentiment index, based on responses from 7,000 executives, increased to 107.9 from 107.7 in March, according to the median forecast of 45 economists in a Bloomberg News survey. The index reached 108.7 in December, the highest since records for a reunified Germany began in 1991. Munich-based Ifo will release the report April 25.
Read more at Bloomberg Bonds News
The Ifo institute's sentiment index, based on responses from 7,000 executives, increased to 107.9 from 107.7 in March, according to the median forecast of 45 economists in a Bloomberg News survey. The index reached 108.7 in December, the highest since records for a reunified Germany began in 1991. Munich-based Ifo will release the report April 25.
Read more at Bloomberg Bonds News
Australia Dollar Drops, Bonds Rise as Producer Prices Slower Than Forecast
(Bloomberg) -- The Australian dollar fell from near a 17-year high after a government report said producer prices were unchanged in the first quarter. Government bonds rose.
The local dollar declined against all 16 most-traded currencies today as traders trimmed bets the Reserve Bank of Australia will increase the interest rate from a six-year high 6.25 percent, ahead of tomorrow's consumer price report. The zero increase in the producer price index compares to the economist estimate for a 0.6 percent quarterly gain.
Read more at Bloomberg Currencies News
The local dollar declined against all 16 most-traded currencies today as traders trimmed bets the Reserve Bank of Australia will increase the interest rate from a six-year high 6.25 percent, ahead of tomorrow's consumer price report. The zero increase in the producer price index compares to the economist estimate for a 0.6 percent quarterly gain.
Read more at Bloomberg Currencies News
Alliance Boots, Barclays, BT, Lloyds, Tesco: U.K., Irish Equity Preview
(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from the April 20 close.
The benchmark FTSE 100 Index rose 46.2, or 0.72 percent, to close at 6486.8 in London as 72 stocks rose, 23 fell and 7 were unchanged. The FTSE All-Share Index gained 24.59, or 0.74 percent, to 3369.84.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index rose 46.2, or 0.72 percent, to close at 6486.8 in London as 72 stocks rose, 23 fell and 7 were unchanged. The FTSE All-Share Index gained 24.59, or 0.74 percent, to 3369.84.
Read more at Bloomberg Stocks News
Morgan Stanley names Roach as Asia chairman
(Reuters) - The 61-year-old Roach, who has been a frequent visitor to Asia since joining the Wall Street firm in 1982, will assume his new position in June, and will move to Hong Kong in September.
"My role is really getting involved with all of our senior relationships, whether they are with investors, corporates, governments. If it involves a banking transaction, I expect certainly to play a role in it," he said in a telephone interview.
Read more at Reuters.com Business News
"My role is really getting involved with all of our senior relationships, whether they are with investors, corporates, governments. If it involves a banking transaction, I expect certainly to play a role in it," he said in a telephone interview.
Read more at Reuters.com Business News
UPDATE 1-China's Suning plans $315 mln share placement
(Reuters) - Suning said it planned a nationwide expansion with 250 new outlets in the next 18 months as it goes head-to-head with main rival GOME Electrical Appliances Holding Ltd. , which said last week it would open 170 stores in 2007.
Suning will issue up to 73 million A shares, or just under 5 percent of its enlarged capital, to selected investors at a price of no less than 33.30 yuan per share, it said in a statement at the weekend.
Read more at Reuters.com Mergers News
Suning will issue up to 73 million A shares, or just under 5 percent of its enlarged capital, to selected investors at a price of no less than 33.30 yuan per share, it said in a statement at the weekend.
Read more at Reuters.com Mergers News
China Mobile President Seeks to Purchase Assets in Southeast Asia, Africa
(Bloomberg) -- China Mobile Communications Corp., parent of the world's largest wireless operator by market value, plans to buy companies in Africa and Southeast Asia as growth accelerates in those regions.
``We are interested in neighboring countries in Southeast Asia and some other emerging markets like those in Africa,'' Wang Jianzhou, president of the Beijing-based company, said in an interview in Hainan, China yesterday. He declined to identify companies or say if an acquisition was likely this year.
Read more at Bloomberg Emerging Markets News
``We are interested in neighboring countries in Southeast Asia and some other emerging markets like those in Africa,'' Wang Jianzhou, president of the Beijing-based company, said in an interview in Hainan, China yesterday. He declined to identify companies or say if an acquisition was likely this year.
Read more at Bloomberg Emerging Markets News
Japan Shares Gain as Earnings in U.S., Europe Lift Confidence; Canon Rises
(Bloomberg) -- Japanese stocks gained after profit reports from companies including Caterpillar Inc. and ASML Holding NV raised confidence global economic growth will be sustained and lifted stocks in the U.S. and Europe.
Toyota Motor Corp. and Canon Inc. paced advances.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and Canon Inc. paced advances.
Read more at Bloomberg Stocks News
UPDATE 5-Barclays deal for ABN-AMRO looms, BoA to buy LaSalle
(Reuters) - LONDON/NEW YORK, April 22 - Britain's Barclays Plc is expected to unveil a deal to take over Dutch bank ABN AMRO on Monday, including plans to sell ABN's U.S. retail bank LaSalle to Bank of America , sources familiar with the situation said.
Analysts have said LaSalle could be worth between $18 billion and $23 billion, and the Wall Street Journal reported on Sunday that Bank of America would pay around $21 billion for LaSalle.
Read more at Reuters.com Mergers News
Analysts have said LaSalle could be worth between $18 billion and $23 billion, and the Wall Street Journal reported on Sunday that Bank of America would pay around $21 billion for LaSalle.
Read more at Reuters.com Mergers News
JGB futures dip on stock gain, eye auctions and BOJ
(Reuters) - Short-term yields have steadily risen and euroyen futures have slid to a nine-year low as investors believe the BOJ will likely lift overnight rates later in the year to 0.75 percent from the current 0.5 percent as long as growth remains solid.
"It's a very healthy correction the market has had in the past few days," said Tatsuo Ichikawa, chief JGB strategist at ABN Amro. "The short-end was trading too rich compared with market expectations for one more rate hike this year."
Read more at Reuters.com Bonds News
"It's a very healthy correction the market has had in the past few days," said Tatsuo Ichikawa, chief JGB strategist at ABN Amro. "The short-end was trading too rich compared with market expectations for one more rate hike this year."
Read more at Reuters.com Bonds News
UPDATE 1-LaSalle would plug Chicago gap for Bank of America
(Reuters) - NEW YORK, April 22 - If Bank of America pulls off a deal to buy Chicago-based retail bank LaSalle, it will fill in one of the last remaining gaps in nationwide coverage for the second-largest U.S. bank.
Plans to sell LaSalle to Bank of America will be announced as early as Monday as part of a wider deal which would see Barclays Plc take over Dutch bank ABN AMRO , sources familiar with the situation said.
Read more at Reuters.com Bonds News
Plans to sell LaSalle to Bank of America will be announced as early as Monday as part of a wider deal which would see Barclays Plc take over Dutch bank ABN AMRO , sources familiar with the situation said.
Read more at Reuters.com Bonds News
City Developments, Jurong Cement, Noble Group: Singapore's Equity Preview
(Bloomberg) -- The following shares may rise or fall in Singapore. Stock symbols are in parentheses and prices are from the previous market close.
The Straits Times Index added 69.39, or 2.1 percent, to 3360.67. The April futures contract gained 0.8 percent to 415.5.
Read more at Bloomberg Stocks News
The Straits Times Index added 69.39, or 2.1 percent, to 3360.67. The April futures contract gained 0.8 percent to 415.5.
Read more at Bloomberg Stocks News
Australia's S&P/ASX 200 Index Rises, Led by BHP Billiton on Higher Metals
(Bloomberg) -- Australia's S&P/ASX 200 Index rose 10.2, or 0.2 percent, to 6217.7 as of 10:01 a.m. in Sydney. BHP Billiton Ltd. advanced.
To contact the reporter for this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net
Read more at Bloomberg Stocks News
To contact the reporter for this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net
Read more at Bloomberg Stocks News
Kepco, Hyundai Heavy Industries, SK Networks: South Korea Equity Preview
(Bloomberg) -- The following shares may rise or fall in South Korea. Prices refer to the April 20 close. This preview includes news announced after markets shut. Stock symbols are in brackets after the company names.
The Kospi index rose 1.3 percent to 1533.08. The Kosdaq added 1.3 percent to 691.56. Kospi 200 futures expiring in June gained 1.4 percent to 198.65, while the underlying index climbed 1.4 percent to 197.24.
Read more at Bloomberg Stocks News
The Kospi index rose 1.3 percent to 1533.08. The Kosdaq added 1.3 percent to 691.56. Kospi 200 futures expiring in June gained 1.4 percent to 198.65, while the underlying index climbed 1.4 percent to 197.24.
Read more at Bloomberg Stocks News
Barclays deal for ABN looms; LaSalle set for sale
(Reuters) - Barclays will announce plans to sell ABN's U.S. retail bank LaSalle to Bank of America as part of the deal, sources said. Analysts have said Chicago-based LaSalle could be worth between $18 billion and $23 billion.
Barclays has been in exclusive talks to buy ABN for more than a month. The deadline for those talks ran out on Friday, and sources said talks continued over the weekend and may be confirmed early on Monday.
Read more at Reuters.com Business News
Barclays has been in exclusive talks to buy ABN for more than a month. The deadline for those talks ran out on Friday, and sources said talks continued over the weekend and may be confirmed early on Monday.
Read more at Reuters.com Business News
Crude Oil Trades Little Changed After Rising on U.S. Fuel Supply Concern
(Bloomberg) -- Crude oil was little changed in New York after rising late last week on signs a refinery strike in Belgium and output cuts by OPEC may restrict U.S. oil and fuel imports.
Workers at four refineries in Antwerp will strike from May 9 over a pay dispute, their union said April 20. European plants account for more than 70 percent of U.S. gasoline imports. Oil output by the Organization of Petroleum Exporting Countries will probably fall 0.3 percent to 30.6 million barrels a day in April, consultants PetroLogistics Ltd. said last week.
Read more at Bloomberg Energy News
Workers at four refineries in Antwerp will strike from May 9 over a pay dispute, their union said April 20. European plants account for more than 70 percent of U.S. gasoline imports. Oil output by the Organization of Petroleum Exporting Countries will probably fall 0.3 percent to 30.6 million barrels a day in April, consultants PetroLogistics Ltd. said last week.
Read more at Bloomberg Energy News
U.S. gasoline prices rise to $2.87 a gallon: survey
(Reuters) - The latest average was nearly 4 cents below the year-ago average price of $2.91 a gallon and about 15 cents below the August 11, 2006, all-time high of $3.03.
"The average price may not meet or exceed that all-time high because the main reason for the price hike seen this year is rapidly dissipating," survey editor Trilby Lundberg said.
Read more at Reuters.com Business News
"The average price may not meet or exceed that all-time high because the main reason for the price hike seen this year is rapidly dissipating," survey editor Trilby Lundberg said.
Read more at Reuters.com Business News
WEEKAHEAD-Emerging debt to eye stocks, Brazil cenbank minutes
(Reuters) - Emerging debt risk spreads closed on Friday at 158 basis points, close to a record-tight level of 157 basis points, according to JP Morgan's EMBI+ index .
Brazil's and Colombia's risk spreads tightened to record levels in the past three consecutive sessions, as a rally in the U.S. equities market left investors more comfortable taking on risk.
Read more at Reuters.com Bonds News
Brazil's and Colombia's risk spreads tightened to record levels in the past three consecutive sessions, as a rally in the U.S. equities market left investors more comfortable taking on risk.
Read more at Reuters.com Bonds News
RPT-Wall St Wk Ahead:Dow 13,000 in focus with earnings on tap
(Reuters) - NEW YORK, April 22 - As the Dow industrials approach 13,000 for the first time, investors will keep a close eye on the heavy flow of quarterly earnings while new data on consumer sentiment and the pace of the U.S. economy stream this week.
U.S. stocks jumped on Friday, with the Dow closing at a record high after coming within 35 points of 13,000 as stronger-than-expected earnings reports poured in.
Read more at Reuters.com Bonds News
U.S. stocks jumped on Friday, with the Dow closing at a record high after coming within 35 points of 13,000 as stronger-than-expected earnings reports poured in.
Read more at Reuters.com Bonds News
Egypt's Stocks Gain, Including Orascom Telecom; Orascom Construction Slips
(Bloomberg) -- Egyptian stocks, including Orascom Telecom Holding SAE, the largest mobile phone company by users in the Middle East and North Africa, advanced.
Orascom Construction Industries, the largest listed cement maker in the Middle East and North Africa, fell on concern the company's price has outpaced its prospect for earnings growth.
Read more at Bloomberg Stocks News
Orascom Construction Industries, the largest listed cement maker in the Middle East and North Africa, fell on concern the company's price has outpaced its prospect for earnings growth.
Read more at Bloomberg Stocks News
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