(Reuters) - The yen recovered broadly on Tuesday as a second set of surprisingly tame inflation data pushed the Australian dollar lower, dragging down other major currencies including the euro.
The yen was also supported by short covering ahead of Japan's Golden Week holidays starting next week and before key data and a Bank of Japan monetary policy meeting on Friday.
Read more at Reuters Africa
Monday, April 23, 2007
Korean Won Drops From 3-Month High as Charts Flag Halt in Gain; Bonds Fall
(Bloomberg) -- South Korea's won dropped from the highest since January, as a technical chart some traders watch to predict future price movements indicated the appreciation may have been excessive. Government bonds rose.
The dollar's relative strength index against the won was 31.035 yesterday, close to a level that suggests its decline may pause. The won has advanced 1.1 percent over the past month as the benchmark share index climbed to a record, helped by optimism growth will quicken later this year.
Read more at Bloomberg Currencies News
The dollar's relative strength index against the won was 31.035 yesterday, close to a level that suggests its decline may pause. The won has advanced 1.1 percent over the past month as the benchmark share index climbed to a record, helped by optimism growth will quicken later this year.
Read more at Bloomberg Currencies News
Canon Q1 profit up 22 pct yr/yr, lifts outlook
(Reuters) - The result beat Canon's own forecast of 185 billion yen but was roughly in line with the Nikkei business daily's prediction of about 210 billion yen in an article last week. Merrill Lynch had forecast a profit of 189.9 billion yen.
Canon raised its operating profit forecast for the year to December to 790 billion yen from 765 billion yen.
Read more at Reuters.com Market News
Canon raised its operating profit forecast for the year to December to 790 billion yen from 765 billion yen.
Read more at Reuters.com Market News
UPDATE 1-Canon Q1 profit up 22 pct, lifts outlook
(Reuters) - Canon earnings have been propelled higher by growing sales of digital cameras, colour office copiers and laser printers, including those supplied to Hewlett-Packard Co. . It has also benefitted form a weaker-than-expected yen.
Canon is the first to report earnings among Japan's top camera and office equipment makers, which on average are expected to post strong earnings for the past business year but see slower growth this year as digital camera demand softens and due to the absence of big currency gains.
Read more at Reuters.com Market News
Canon is the first to report earnings among Japan's top camera and office equipment makers, which on average are expected to post strong earnings for the past business year but see slower growth this year as digital camera demand softens and due to the absence of big currency gains.
Read more at Reuters.com Market News
TEXT-Babcock & Brown acquires U.S. ethanol operator
(Reuters) - IBEC recently commenced the operation of a 40 million gallon per year ethanol production facility which it has built over the last 18 months. Babcock & Brown's interest in IBEC stems from its excellent market location, state-of-the-art production technology and valuable contractual relationships with leading industry participants.
IBEC represents Babcock & Brown's fourth investment in the US ethanol industry. In January 2006, Babcock & Brown Environmental Investments completed the acquisition of Diversified Energy Company , whose primary asset is a 25 mgpy facility in Morris, Minnesota. Babcock & Brown also has two plants under construction: a 100 mgpy facility in Hennepin, Illinois and a 50 mgpy facility in Necedah, Wisconsin.
Read more at Reuters.com Mergers News
IBEC represents Babcock & Brown's fourth investment in the US ethanol industry. In January 2006, Babcock & Brown Environmental Investments completed the acquisition of Diversified Energy Company , whose primary asset is a 25 mgpy facility in Morris, Minnesota. Babcock & Brown also has two plants under construction: a 100 mgpy facility in Hennepin, Illinois and a 50 mgpy facility in Necedah, Wisconsin.
Read more at Reuters.com Mergers News
Taiwan's AU swings to Q1 loss after LCD prices sag
(Reuters) - Analysts are betting on a rebound in the coming months after new computers and flat-screen televisions roll down the production lines as a lower price tag encourages consumers to replace old PCs and TVs. AU posted a net loss of T$5.105 billion in the January-March quarter, reversing a T$6.65 billion profit a year ago and a net profit of T$1.659 billion in the previous three months.
Analysts had expected the company to post a first-quarter loss of T$3.13 billion, according to a consensus forecast of five analysts surveyed by Reuters Estimates.
Read more at Reuters.com Market News
Analysts had expected the company to post a first-quarter loss of T$3.13 billion, according to a consensus forecast of five analysts surveyed by Reuters Estimates.
Read more at Reuters.com Market News
Chinese pirates beat Spider-Man to the punch
(Reuters) - There is even a warning on the back, printed in Chinese, against pirating the product.
But put the one bought on Tuesday in the machine, and it does not work -- a common problem with Chinese-made DVDs, which are often made with poor equipment in dingy backrooms.
Read more at Reuters.com Business News
But put the one bought on Tuesday in the machine, and it does not work -- a common problem with Chinese-made DVDs, which are often made with poor equipment in dingy backrooms.
Read more at Reuters.com Business News
Thai Bonds Gain on Central Bank Economic Growth Forecast Cut Speculation
(Bloomberg) -- Thailand's government bonds rose on speculation a lower economic growth forecast today will allow the central bank to cut rates further this year. The baht slid.
Ten-year yields have fallen more than one percentage point since Jan. 17, when the central bank cut rates for the first time since June 2003. The Bank of Thailand will today announce its new inflation and expansion forecasts for this year.
Read more at Bloomberg Bonds News
Ten-year yields have fallen more than one percentage point since Jan. 17, when the central bank cut rates for the first time since June 2003. The Bank of Thailand will today announce its new inflation and expansion forecasts for this year.
Read more at Bloomberg Bonds News
Newmont cleared in Indonesian pollution case
(Reuters) - The case has been seen as a key test of attitudes towards foreign firms and environmental protection in the country.
"Pollution charges against Newmont Minahasa Raya and Richard Ness cannot be proven," chief judge Ridwan Damanik told the court, referring to the local unit of the U.S. firm and its president.
Read more at Reuters.com Business News
"Pollution charges against Newmont Minahasa Raya and Richard Ness cannot be proven," chief judge Ridwan Damanik told the court, referring to the local unit of the U.S. firm and its president.
Read more at Reuters.com Business News
Danone, Bourbon, Eiffage, Cap Gemini, Vallourec: French Equity Preview
(Bloomberg) -- Shares of the following companies may rise or fall on the Paris stock exchange today. Symbols are in parentheses after company names and prices are from yesterday's close.
The CAC 40 Index lost 21.58, or 0.4 percent, to 5917.32. The SBF 120 Index declined 0.3 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index lost 21.58, or 0.4 percent, to 5917.32. The SBF 120 Index declined 0.3 percent.
Read more at Bloomberg Stocks News
Former Apple General Counsel Heinen May Face Options Suit, Attorneys Say
(Bloomberg) -- Apple Inc. former General Counsel Nancy Heinen may be sued by the Securities and Exchange Commission for backdating two stock option grants, including one made to Chief Executive Officer Steve Jobs, her lawyers said.
The securities regulator will likely sue Heinen this week for allegedly backdating an Oct. 19, 2001, stock option grant to Jobs for 7.5 million shares, and an earlier grant made to Jobs' executive team members, including Heinen, on Jan. 17, 2001, her attorney Miles Ehrlich said.
Read more at Bloomberg Exclusive News
The securities regulator will likely sue Heinen this week for allegedly backdating an Oct. 19, 2001, stock option grant to Jobs for 7.5 million shares, and an earlier grant made to Jobs' executive team members, including Heinen, on Jan. 17, 2001, her attorney Miles Ehrlich said.
Read more at Bloomberg Exclusive News
Virginia led US in tech job concentration - report
(Reuters) - Massachusetts ranked second, with 8.6 percent of private sector workers employed in the technology sector last year, followed by Colorado, the District of Columbia and Maryland, according to the report.
The AeA, which formerly was known as the American Electronics Association, said it collected the data from the U.S. Bureau of Labor Statistics.
Read more at Reuters.com Bonds News
The AeA, which formerly was known as the American Electronics Association, said it collected the data from the U.S. Bureau of Labor Statistics.
Read more at Reuters.com Bonds News
Australia Dollar Drops Most in 7 Weeks on Inflation: World's Biggest Mover
(Bloomberg) -- Australia's dollar dropped the most in seven weeks, in the greatest fluctuation of any currency today, as weaker-than-forecast inflation reduced the chances of an increase in interest rates.
The local dollar fell for a second day and government bonds rose as traders cut bets the Reserve Bank of Australia would raise the cost of borrowing at its meeting in May. The currency last week reached the strongest in 17 years, helped by speculation the central bank would further lift the key rate from a six-year high of 6.25 percent.
Read more at Bloomberg Currencies News
The local dollar fell for a second day and government bonds rose as traders cut bets the Reserve Bank of Australia would raise the cost of borrowing at its meeting in May. The currency last week reached the strongest in 17 years, helped by speculation the central bank would further lift the key rate from a six-year high of 6.25 percent.
Read more at Bloomberg Currencies News
Taiwan Dollar Drops as Funds Look Abroad for Yields; Government Bonds Fall
(Bloomberg) -- The Taiwan dollar fell, trading near the lowest in five months, on speculation domestic investors are sending money abroad to search for higher yields.
Taiwan's interest rate of 2.875 percent is the second-lowest in Asia after Japan, encouraging funds to buy fixed-income assets abroad where yields are higher. The currency's lower returns have made it the second-worst performer in Asia in the past year after the Sri Lankan rupee.
Read more at Bloomberg Bonds News
Taiwan's interest rate of 2.875 percent is the second-lowest in Asia after Japan, encouraging funds to buy fixed-income assets abroad where yields are higher. The currency's lower returns have made it the second-worst performer in Asia in the past year after the Sri Lankan rupee.
Read more at Bloomberg Bonds News
PREVIEW-Japan precision equipment makers to see growth slow
(Reuters) - *When: Canon is first to report earnings on Tuesday, followed by Ricoh on Wednesday, Seiko Epson on Thursday, Fujifilm on Friday. Olympus Corp. is due to report on May 8. Konica Minolta and Nikon Corp. both report on May 10.
*Profit growth strong but expected to slow amid signs of softening demand in digital camera market and lack of big yen gains.
Read more at Reuters.com Market News
*Profit growth strong but expected to slow amid signs of softening demand in digital camera market and lack of big yen gains.
Read more at Reuters.com Market News
LA Times, Chicago Tribune to cut jobs
(Reuters) - The Times plans to cut up to 150 jobs, which it will try to achieve through buyouts. It would equal 3 percent to 5 percent of workers at the Times, the Tribune's largest newspaper, publisher David Hiller wrote in a note to the staff.
"The fact is we have to take actions to keep staffing in line with the revenue picture, which currently is falling in the core print business," Hiller wrote.
Read more at Reuters.com Business News
"The fact is we have to take actions to keep staffing in line with the revenue picture, which currently is falling in the core print business," Hiller wrote.
Read more at Reuters.com Business News
UPDATE 2-Mexico's Cemex Q1 net falls, but meets expectations
(Reuters) - MONTERREY, Mexico, April 23 - Mexico's Cemex, the world's third largest cement maker, posted a 21 percent fall in first-quarter profit when compared with the year ago period which included a large one-time gain.
Net profit for Cemex, which operates in more than 50 countries, was $400 million in the January-March period and in line with expectations.
Read more at Reuters.com Market News
Net profit for Cemex, which operates in more than 50 countries, was $400 million in the January-March period and in line with expectations.
Read more at Reuters.com Market News
Korea's Won Advances to Three-Month High as Overseas Investors Buy Stocks
(Bloomberg) -- South Korea's won strengthened to the highest since January as overseas investors added to their holdings of the nation's stocks.
The won advanced 1.2 percent over the past month as the benchmark share index climbed to a record yesterday, helped by optimism growth will quicken later this year. A report tomorrow may say Asia's third-largest economy grew in the first quarter at the same pace as the previous three months, according to a Bloomberg News survey.
Read more at Bloomberg Currencies News
The won advanced 1.2 percent over the past month as the benchmark share index climbed to a record yesterday, helped by optimism growth will quicken later this year. A report tomorrow may say Asia's third-largest economy grew in the first quarter at the same pace as the previous three months, according to a Bloomberg News survey.
Read more at Bloomberg Currencies News
U.K. Pound to Fall Below $2 Next Quarter, BBH's Marc Chandler Forecasts
(Bloomberg) -- Investors should buy options to profit from a likely decline in the pound back below $2 next quarter, according to Brown Brothers Harriman & Co.
The pound touched $2.0133 on April 18, the highest since 1981, as quickening U.K. inflation prompted investors to anticipate two more interest-rate increases this year by the Bank of England. The bank's key rate is now 5.25 percent.
Read more at Bloomberg Currencies News
The pound touched $2.0133 on April 18, the highest since 1981, as quickening U.K. inflation prompted investors to anticipate two more interest-rate increases this year by the Bank of England. The bank's key rate is now 5.25 percent.
Read more at Bloomberg Currencies News
New Zealand's Dollar May Gain From 22-Year High on Prospect of Rate Rise
(Bloomberg) -- New Zealand's dollar may rise above a 22-year high on speculation the central bank will increase the benchmark interest rate as soon as this week, boosting the appeal of the nation's high-yielding assets.
New Zealand's official cash rate, which was increased to a record 7.5 percent March 8, has helped the currency, known as the kiwi, rise 17 percent in the past six months, the best performance of the major currencies tracked by Bloomberg. There is a 64 percent chance the central bank will raise the cash rate at its April 26 review, according to a Credit Suisse index based on overnight trading in interest-rate swaps.
Read more at Bloomberg Currencies News
New Zealand's official cash rate, which was increased to a record 7.5 percent March 8, has helped the currency, known as the kiwi, rise 17 percent in the past six months, the best performance of the major currencies tracked by Bloomberg. There is a 64 percent chance the central bank will raise the cash rate at its April 26 review, according to a Credit Suisse index based on overnight trading in interest-rate swaps.
Read more at Bloomberg Currencies News
UPDATE 2-Calamos profit slides 16.7 pct as assets drop
(Reuters) - BOSTON, April 23 - Calamos Asset Management Inc. posted on Monday a 16.7 percent fall in first-quarter profit, a slightly bigger drop than analysts had expected, as redemptions pulled down assets under management.
The money manager, which focuses on the growth style of equity investing that has been out of favor since the bursting of the technology bubble in 2000, said the style was poised for a comeback as growth stock valuations looked cheap.
Read more at Reuters.com Bonds News
The money manager, which focuses on the growth style of equity investing that has been out of favor since the bursting of the technology bubble in 2000, said the style was poised for a comeback as growth stock valuations looked cheap.
Read more at Reuters.com Bonds News
Coles, Fairfax, Santos, Woodside Petroleum: Australian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. Prices are from yesterday's close unless otherwise stated. Stock symbols are in brackets after the company names.
The S&P/ASX 200 Index futures contract due in June rose 8 points, or 0.1 percent, to 6245 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index lost 1.3 percent in New York.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index futures contract due in June rose 8 points, or 0.1 percent, to 6245 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index lost 1.3 percent in New York.
Read more at Bloomberg Stocks News
US CREDIT-Reynolds' debt rallies, more ratings upgrades seen
(Reuters) - Standard & Poor's raised Reynolds to "BBB-minus," the lowest investment grade ranking, on April 12, and revised its rating outlook to positive from stable. For details, see [ID:nN12351570].
The cost to insure Reynolds' debt with credit default swaps has fallen to around 65 basis points, or $65,000 per year for five years to insure $10 million in debt, from 102 basis points before the upgrade.
Read more at Reuters.com Bonds News
The cost to insure Reynolds' debt with credit default swaps has fallen to around 65 basis points, or $65,000 per year for five years to insure $10 million in debt, from 102 basis points before the upgrade.
Read more at Reuters.com Bonds News
UPDATE 1-Subprime losses may reach 6-8 pct-Moody's
(Reuters) - Moody's raised its forecast for losses after forecasting losses of 5.5 to 6 percent in March, the rating company said in a statement released late on Friday.
"Given the increase in delinquencies and defaults, Moody's believes there will likely be an increase in the use of loan modifications, as an alternative to foreclosure sale," Moody's analyst Debash Chatterjee wrote in a statement.
Read more at Reuters.com Bonds News
"Given the increase in delinquencies and defaults, Moody's believes there will likely be an increase in the use of loan modifications, as an alternative to foreclosure sale," Moody's analyst Debash Chatterjee wrote in a statement.
Read more at Reuters.com Bonds News
Lawmakers agree on minimum wage tax package
(Reuters) - The agreement -- reached over the weekend between negotiators for the Senate and the House of Representatives -- will tie the tax changes to an increase in the federal minimum wage over two years from the current $5.15 per hour to $7.25.
The wage and tax package has been added to a $100 billion Iraq war funding bill that President George W. Bush has threatened to veto.
Read more at Reuters.com Bonds News
The wage and tax package has been added to a $100 billion Iraq war funding bill that President George W. Bush has threatened to veto.
Read more at Reuters.com Bonds News
Applied Micro Circuits sees lower Q4, Q1 revenue
(Reuters) - Analysts on average are expecting the company to post revenue of $73.9 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-AECOM Technology sets IPO at 35.15 million shares
(Reuters) - The provider of professional and technical support services to government and commercial clients said in an amended filing with the U.S. Securities and Exchange Commission that it plans to offer 19.9 million shares, and stockholders plan to offer an additional 15.2 million shares.
Morgan Stanley, Merrill Lynch & Co., and UBS Investment Bank are the lead underwriters for the IPO.
Read more at Reuters.com Government Filings News
Morgan Stanley, Merrill Lynch & Co., and UBS Investment Bank are the lead underwriters for the IPO.
Read more at Reuters.com Government Filings News
L-3 profit up on military electronics
(Reuters) - The New York-based company posted a quarterly net profit of $162 million, or $1.29 per share, compared with $139 million, or $1.13 per share, a year earlier.
That was just ahead of Wall Street's average forecast of $1.28 per share, according to Reuters Estimates.
Read more at Reuters.com Business News
That was just ahead of Wall Street's average forecast of $1.28 per share, according to Reuters Estimates.
Read more at Reuters.com Business News
TREASURIES-Prices step up with Bunds in absence of data
(Reuters) - An expected flat opening in U.S. stocks and steady oil prices did not offer clear cross-market signals for bond players, analysts said.
The Treasuries market "is just moving up with Bunds," said William O'Donnell, director of interest rate strategy at UBS Securities LLC in Stamford, Connecticut.
Read more at Reuters.com Bonds News
The Treasuries market "is just moving up with Bunds," said William O'Donnell, director of interest rate strategy at UBS Securities LLC in Stamford, Connecticut.
Read more at Reuters.com Bonds News
CORRECTED - UPDATE 4-Barclays agrees $91 bln ABN buy, to sell LaSalle
(Reuters) - By Steve Slater and Reed Stevenson
LONDON/AMSTERDAM, April 23 - British bank Barclays Plc has agreed to buy Dutch rival ABN AMRO for about 67 billion euros in shares as it attempts to fight off rivals to clinch the world's biggest bank takeover.
Read more at Reuters.com Mergers News
LONDON/AMSTERDAM, April 23 - British bank Barclays Plc has agreed to buy Dutch rival ABN AMRO for about 67 billion euros in shares as it attempts to fight off rivals to clinch the world's biggest bank takeover.
Read more at Reuters.com Mergers News
UPDATE 1-L-3 profit up on military electronics
(Reuters) - The company, which makes a range of electronic gear for military aircraft and runs technology systems for U.S. federal agencies, also raised its forecasts for the full year, saying that two recent, small acquisitions would add to earnings.
The New York-based company posted a net profit of $162 million, or $1.29 per share, compared with $139 million, or $1.13 per share, a year earlier.
Read more at Reuters.com Market News
The New York-based company posted a net profit of $162 million, or $1.29 per share, compared with $139 million, or $1.13 per share, a year earlier.
Read more at Reuters.com Market News
Bombardier, Magna, Research In Motion, Thomson: Canadian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed on April 20. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index rose 90.01, or 0.7 percent, to 13,664.71, in Toronto on April 20.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index rose 90.01, or 0.7 percent, to 13,664.71, in Toronto on April 20.
Read more at Bloomberg Stocks News
AECOM Technology sets IPO at 35.15 million shares
(Reuters) - Morgan Stanley, Merrill Lynch & Co., and UBS Investment Bank are the lead underwriters for the IPO.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
U.S. Stock-Index Futures Are Little Changed; Texas Instruments Declines
(Bloomberg) -- U.S. stock-index futures were little changed as some investors speculated earnings may not justify share prices that sent the Dow Jones Industrial Average to a record close.
``Investors who don't believe the market will rise far beyond these highs, and people bearish on the economy are taking profits,'' said Juergen Lukasser, who helps manage $20 billion as head of equities at Constantia Privatbank AG in Vienna.
Read more at Bloomberg Stocks News
``Investors who don't believe the market will rise far beyond these highs, and people bearish on the economy are taking profits,'' said Juergen Lukasser, who helps manage $20 billion as head of equities at Constantia Privatbank AG in Vienna.
Read more at Bloomberg Stocks News
FTSE flat as Barclays, Astra weigh and S&N shines
(Reuters) - Britain's top share index was flat by mid-session on Monday as acquisitions from Barclays and AstraZeneca offset gains in oil shares and possible bid target Scottish & Newcastle.
At 1035 GMT the FTSE 100 was down 3 points, or 0.05 percent at 6,484.1, having closed up 0.72 percent on Friday to give a weekly gain of 0.38 percent. European shares also eased slightly.
Read more at Reuters Africa
At 1035 GMT the FTSE 100 was down 3 points, or 0.05 percent at 6,484.1, having closed up 0.72 percent on Friday to give a weekly gain of 0.38 percent. European shares also eased slightly.
Read more at Reuters Africa
CDO Alert: Fortis, Oak Hill, Credit Suisse, HVB Group Plan Sales in Europe
(Bloomberg) -- Banks and asset managers sold 33.8 billion euros ($45.8 billion) of collateralized debt obligations in Europe so far this year, 162 percent more than the same period a year ago, according to Deutsche Bank AG.
Collateralized debt obligations are created by packaging bonds, loans or credit-default swaps and using their income to pay investors. CDOs are divided into different portions of varying risk, which can offer higher returns than the debt they are based on or equivalently rated bonds.
Read more at Bloomberg Bonds News
Collateralized debt obligations are created by packaging bonds, loans or credit-default swaps and using their income to pay investors. CDOs are divided into different portions of varying risk, which can offer higher returns than the debt they are based on or equivalently rated bonds.
Read more at Bloomberg Bonds News
U.K. Government May Sell First Islamic Bonds to Woo Middle East Oil Money
(Bloomberg) -- The U.K. may sell its first-ever Islamic bonds to help bring a larger share of the world's $250 billion Shariah-compliant financial markets to London.
The Debt Management Office and U.K. Treasury will publish a study by the autumn on the bond sales, Treasury Minister Ed Balls will say today. Such debt is structured to avoid breaking Islamic law, or Shariah, which forbids payment of interest.
Read more at Bloomberg Bonds News
The Debt Management Office and U.K. Treasury will publish a study by the autumn on the bond sales, Treasury Minister Ed Balls will say today. Such debt is structured to avoid breaking Islamic law, or Shariah, which forbids payment of interest.
Read more at Bloomberg Bonds News
Chicago Tribune aims to cut 100 jobs: report
(Reuters) - The Los Angeles Times, another Tribune paper, was also expected to announced plans on Monday to cut about 5 percent of its workforce, or around 150 jobs, the Times reported on Saturday.
Tribune, which is going private in an $8.2 billion buyout, reported a quarterly loss last week as its daily newspapers suffered a continuing drop in advertising sales.
Read more at Reuters.com Business News
Tribune, which is going private in an $8.2 billion buyout, reported a quarterly loss last week as its daily newspapers suffered a continuing drop in advertising sales.
Read more at Reuters.com Business News
UPDATE 1-Dalton urges MBO of Fujitec, Nippon Fine Chemical
(Reuters) - Dalton is offering to purchase all of the outstanding Fujitec shares for 900 yen per share. With about 93.6 million shares outstanding, the total value of the offer is about 84 billion yen .
For Nippon Fine Chemical, Dalton is offering to purchase all the stock for 900 yen per share. With approximately 26 million shares outstanding, the total value of the offer is approximately 24 billion yen .
Read more at Reuters.com Mergers News
For Nippon Fine Chemical, Dalton is offering to purchase all the stock for 900 yen per share. With approximately 26 million shares outstanding, the total value of the offer is approximately 24 billion yen .
Read more at Reuters.com Mergers News
DAX Index Slips, Led by Shares of E.ON, RWE, Deutsche Telekom; BMW Gains
(Bloomberg) -- German stocks declined, led by E.ON AG and RWE AG after Handelsblatt reported that the government will tighten antitrust regulation for utilities.
Bayerische Motoren Werke AG rose after JPMorgan Chase & Co. raised its rating on the world's largest maker of luxury cars.
Read more at Bloomberg Stocks News
Bayerische Motoren Werke AG rose after JPMorgan Chase & Co. raised its rating on the world's largest maker of luxury cars.
Read more at Bloomberg Stocks News
Dalton urges MBO of Fujitec, Nippon Fine Chemical
(Reuters) - Fujitec and Nippon Fine Chemical could not comment immediately on the proposals.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Barclays says Italy to be key for future with ABN
(Reuters) - "It will be an extremely strong market going forward."
ABN is the largest shareholder in Italy's Capitalia and bought Antonveneta just over a year ago to grow in Italy.
Read more at Reuters.com Mergers News
ABN is the largest shareholder in Italy's Capitalia and bought Antonveneta just over a year ago to grow in Italy.
Read more at Reuters.com Mergers News
Barclays to Buy ABN Amro for $91 Billion; Bank of America Acquires LaSalle
(Bloomberg) -- Barclays Plc, Britain's third- largest bank, agreed to buy ABN Amro Holding NV for 67 billion euros ($91 billion) in the world's biggest-ever financial- services takeover.
The offer amounts to 36.25 euros a share, and includes 3.225 Barclays shares for each of ABN Amro's, the banks said in a statement today. That's 33 percent more than ABN Amro's closing price on March 16, the last trading day before talks were announced. In a related deal, ABN Amro agreed to sell Chicago- based LaSalle Bank to Bank of America Corp.
Read more at Bloomberg Currencies News
The offer amounts to 36.25 euros a share, and includes 3.225 Barclays shares for each of ABN Amro's, the banks said in a statement today. That's 33 percent more than ABN Amro's closing price on March 16, the last trading day before talks were announced. In a related deal, ABN Amro agreed to sell Chicago- based LaSalle Bank to Bank of America Corp.
Read more at Bloomberg Currencies News
AstraZeneca sees reduced share buyback in 2008
(Reuters) - "The board will want to make sure that we maintain capacity for opportunities in future," he told reporters in a conference call on Monday.
"I don't think it will be at 2007 levels but I don't think it will be zero."
Read more at Reuters.com Mergers News
"I don't think it will be at 2007 levels but I don't think it will be zero."
Read more at Reuters.com Mergers News
French Stocks Including Schneider Electric Rise as Societe Generale Drops
(Bloomberg) -- French stocks including Schneider Electric SA, Gaz de France SA and Groupe Danone gained.
Societe Generale SA slid.
Read more at Bloomberg Stocks News
Societe Generale SA slid.
Read more at Bloomberg Stocks News
European Stocks Rise on Takeovers; ABN Amro, Iberia, Novartis Pace Advance
(Bloomberg) -- European stocks extended last week's gain on speculation takeovers will increase after Barclays Plc agreed to buy ABN Amro Holding NV for 67 billion euros ($91 billion) in the world's biggest-ever financial-services takeover.
``Equities look set to continue their upbeat run,'' said Matt Buckland, a trader at CMC Markets in London. ``No real let- up in quality merger and acquisition news is playing a large part in keeping markets buoyant.''
Read more at Bloomberg Stocks News
``Equities look set to continue their upbeat run,'' said Matt Buckland, a trader at CMC Markets in London. ``No real let- up in quality merger and acquisition news is playing a large part in keeping markets buoyant.''
Read more at Bloomberg Stocks News
Motiva Cuts Feedstock Supplies to Reforming Unit at Port Arthur Refinery
(Bloomberg) -- Motiva Enterprises LLC, a refining joint venture between Royal Dutch Shell Plc and Saudi Aramco, said it cut feedstock supplies to a catalytic reforming unit at its refinery in Port Arthur, Texas, according to a filing with the Texas Commission on Environmental Quality.
Supplies to the reformer were cut after a hydrogen booster compressor plant shut down, Motiva said in the filing. A catalytic reformer converts fuels into components suitable to make gasoline. The report didn't say by how much the shutdown will cut production at the refinery.
Read more at Bloomberg Energy News
Supplies to the reformer were cut after a hydrogen booster compressor plant shut down, Motiva said in the filing. A catalytic reformer converts fuels into components suitable to make gasoline. The report didn't say by how much the shutdown will cut production at the refinery.
Read more at Bloomberg Energy News
U.S. profits boost Asia stocks, China shares soar
(Reuters) - Exporters such as Honda Motor Co. Ltd. and LG Philips LCD were prominent among the gainers, while firm precious and base metal prices helped shares in miners such as BHP Billiton.
European shares were set to open up, after hitting their highest in more than six years on Friday, with spread betters in London calling the FTSE 100 to open up 8-19 points, the CAC 40 up 4-12 points and the DAX flat to 14 points higher.
Read more at Reuters.com Hot Stocks News
European shares were set to open up, after hitting their highest in more than six years on Friday, with spread betters in London calling the FTSE 100 to open up 8-19 points, the CAC 40 up 4-12 points and the DAX flat to 14 points higher.
Read more at Reuters.com Hot Stocks News
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