(Reuters) - The company said in a statement that the transactions will boost earnings immediately, and increase distributable cash flow per unit in 2008 by more than 10 percent.
The acquisitions make Enterprise GP Holdings the first publicly traded partnership to own interests in the general partners of multiple publicly traded partnerships, the company said.
Read more at Reuters.com Mergers News
Monday, May 7, 2007
Japan's Government Bonds Are Little Changed Before 10-Year Debt Auction
(Bloomberg) -- Japanese bonds were little changed ahead of a 10-year government debt auction today.
The Ministry of Finance will offer a 1.7 percent coupon at the sale, the same payout as at the last five auctions, a Bloomberg News survey showed. The ministry will sell 1.9 trillion yen ($15.8 billion) of the securities today.
Read more at Bloomberg Bonds News
The Ministry of Finance will offer a 1.7 percent coupon at the sale, the same payout as at the last five auctions, a Bloomberg News survey showed. The ministry will sell 1.9 trillion yen ($15.8 billion) of the securities today.
Read more at Bloomberg Bonds News
Lazard mulls sale of Panmure stake - FT
(Reuters) - A comment was not immediately available from the London offices of Lazard or Panmure.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Korean Air, Hyundai Heavy, LG.Philips LCD: South Korea Equity Preview
(Bloomberg) -- The following shares may rise or fall in South Korea. Prices refer to the previous close. This preview includes news announced after markets shut yesterday. Stock symbols are in brackets after the company names.
The Kospi index added 1.1 percent to 1584.46. The Kosdaq climbed 1.3 percent to 702.76. Kospi 200 futures expiring in June gained 0.9 percent to 204.45, while the underlying index rose 1 percent to 203.57.
Read more at Bloomberg Stocks News
The Kospi index added 1.1 percent to 1584.46. The Kosdaq climbed 1.3 percent to 702.76. Kospi 200 futures expiring in June gained 0.9 percent to 204.45, while the underlying index rose 1 percent to 203.57.
Read more at Bloomberg Stocks News
New Zealand Dollar Is as Much as 15 Percent Over-Valued, IMF Report Says
(Bloomberg) -- New Zealand's dollar is as much as 15 percent above medium-term equilibrium level, the International Monetary Fund said its annual review of the economy.
The immediate path for the currency hinges on the carry trade, the IMF said in the report, posted on its Web site. The large interest rate differentials in New Zealand's favor are likely to persist, it said.
Read more at Bloomberg Currencies News
The immediate path for the currency hinges on the carry trade, the IMF said in the report, posted on its Web site. The large interest rate differentials in New Zealand's favor are likely to persist, it said.
Read more at Bloomberg Currencies News
UPDATE 1-Quebec to provide details on Alcan power, job pact
(Reuters) - Industry Minister Raymond Bachand said he would soon unveil agreements Quebec has with Alcan regarding preferential power rates for the big aluminum maker and rights it has on certain waterways for power generation.
"This agreement fundamentally involves commitments made by Alcan on investment," Bachand told reporters in Quebec City.
Read more at Reuters.com Mergers News
"This agreement fundamentally involves commitments made by Alcan on investment," Bachand told reporters in Quebec City.
Read more at Reuters.com Mergers News
UPDATE 1-Star witness Radler tied to Black at trial
(Reuters) - CHICAGO, May 7 - Conrad Black's former business partner, who has already pleaded guilty to fraud, took the stand on Monday as the star witness against the fallen media baron and prosecutors began to link the two men as inseparable in running Black's company.
"I was impressed by Mr. Black's knowledge and ability and thought he'd be a good partner," David Radler recalled of his first encounter with Black just before they bought their first Canadian newspaper in 1969.
Read more at Reuters.com Bonds News
"I was impressed by Mr. Black's knowledge and ability and thought he'd be a good partner," David Radler recalled of his first encounter with Black just before they bought their first Canadian newspaper in 1969.
Read more at Reuters.com Bonds News
U.S. Minerals Management Head Burton Will Retire at the End of This Month
(Bloomberg) -- Johnnie Burton, director of the U.S. Minerals Management Service, will retire effective at the end of this month, Interior Secretary Dirk Kempthorne said.
``I respect your decision to return to your family and to the West we both love,'' Kempthorne wrote in a letter accepting Burton's resignation, according to a release from the department.
Read more at Bloomberg Energy News
``I respect your decision to return to your family and to the West we both love,'' Kempthorne wrote in a letter accepting Burton's resignation, according to a release from the department.
Read more at Bloomberg Energy News
Helicos sets IPO at 5.4 mln shares, $13-$15
(Reuters) - The Cambridge, Massachusetts-based company said it is seeking a Nasdaq listing under the symbol "HLCS."
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Dollar May Approach All-Time Low Against Euro on Fed Interest Rate Outlook
(Bloomberg) -- The dollar may approach the all-time low against the euro amid speculation the Federal Reserve will point to signs of U.S. economic weakness in its statement tomorrow, boosting expectations for interest rate cuts this year.
The U.S. currency dropped yesterday against all of the most active currencies tracked by Bloomberg except the Norwegian krone on expectations the central bank will say inflation is less of a concern. European Central Bank President Jean-Claude Trichet may signal later this week that the bank will increase borrowing costs in June.
Read more at Bloomberg Currencies News
The U.S. currency dropped yesterday against all of the most active currencies tracked by Bloomberg except the Norwegian krone on expectations the central bank will say inflation is less of a concern. European Central Bank President Jean-Claude Trichet may signal later this week that the bank will increase borrowing costs in June.
Read more at Bloomberg Currencies News
Powerwave Technologies posts wider Q1 loss
(Reuters) - Excluding items, it posted a loss of $25.7 million, or 20 cents a share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Rating firms affirm Liberty ratings on acquisition
(Reuters) - Moody's raised Liberty Mutual's non-guaranteed senior unsecured debt one notch to "Baa2," the second-lowest investment grade rating.
The upgrade was prompted by the "stability, strength, and generally steady growth trend of earnings and free cash flows," Moody's said in a statement.
Read more at Reuters.com Mergers News
The upgrade was prompted by the "stability, strength, and generally steady growth trend of earnings and free cash flows," Moody's said in a statement.
Read more at Reuters.com Mergers News
McDermott first-quarter profit up sharply
(Reuters) - Analysts on average had expected a profit of 75 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Gottschalks, Imperial Sugar, Tenaris, Wendy's: U.S. Equity Movers Final
(Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.
Alcan Inc. (AL US) rose $21.08, or 35 percent, to $82.11. Alcoa Inc., seeking to become the world's largest aluminum company, made an unsolicited $26.9 billion cash and stock takeover offer for Alcan. Each Alcan share would be exchanged for $58.60 in cash and 0.4108 of an Alcoa share. That values Alcan at $73.25, or 20 percent more than its last closing price, Alcoa said in a statement.
Read more at Bloomberg Stocks News
Alcan Inc. (AL US) rose $21.08, or 35 percent, to $82.11. Alcoa Inc., seeking to become the world's largest aluminum company, made an unsolicited $26.9 billion cash and stock takeover offer for Alcan. Each Alcan share would be exchanged for $58.60 in cash and 0.4108 of an Alcoa share. That values Alcan at $73.25, or 20 percent more than its last closing price, Alcoa said in a statement.
Read more at Bloomberg Stocks News
Qiagen posts higher 1st-quarter profit
(Reuters) - A poll of nine analysts by Reuters had expected an average net profit of $19.1 million for the period.
Excluding one-time items, such as acquisition and restructuring charges, Qiagen earned $22.56 million, or 14 cents a share, in line with market expectations.
Read more at Reuters.com Market News
Excluding one-time items, such as acquisition and restructuring charges, Qiagen earned $22.56 million, or 14 cents a share, in line with market expectations.
Read more at Reuters.com Market News
Consumer credit rises $13.46 bln in March-Fed
(Reuters) - Analysts polled by Reuters were expecting a $4.5 billion March gain after an initially reported $2.97 billion February gain, which was revised upward to $5.56 billion.
January's consumer credit increase also was revised upward to $8.42 billion from $6.61 billion previously.
Read more at Reuters.com Bonds News
January's consumer credit increase also was revised upward to $8.42 billion from $6.61 billion previously.
Read more at Reuters.com Bonds News
U.S. Wheat, Little Changed, May Rise on Speculation Disease May Cut Yields
(Bloomberg) -- Wheat prices, little changed in Kansas City and Chicago, may rise as wet weather in U.S. growing areas may increase disease and cut yields of crops nearing maturity.
As much as six times the normal rain has fallen in parts of Kansas, Oklahoma and Texas in the past seven days, according to data from the National Weather Service. Diseases such as powdery mildew, a fungus that forms on leaves, thrive in warm, wet conditions.
Read more at Bloomberg Commodities News
As much as six times the normal rain has fallen in parts of Kansas, Oklahoma and Texas in the past seven days, according to data from the National Weather Service. Diseases such as powdery mildew, a fungus that forms on leaves, thrive in warm, wet conditions.
Read more at Bloomberg Commodities News
UPDATE 1-Hines Horticulture to restate some prior results
(Reuters) - Hines said it had misstated inventory, costs of goods sold and distribution costs for 2004 and misstated inventory and costs of goods sold for 2005 and the first three quarters of 2006.
Hines has obtained a waiver from its lenders for delaying its results for the year ended Dec. 31, 2006, and related defaults, Chief Financial Officer Claudia Pieropan said in a statement.
Read more at Reuters.com Government Filings News
Hines has obtained a waiver from its lenders for delaying its results for the year ended Dec. 31, 2006, and related defaults, Chief Financial Officer Claudia Pieropan said in a statement.
Read more at Reuters.com Government Filings News
Oil Declines to Six-Week Low as U.S. Refiners Increase Output of Gasoline
(Bloomberg) -- Crude oil fell to a six-week low and gasoline plunged on speculation that U.S. refiners will increase output of the motor fuel before the peak-demand driving season.
Gasoline supplies rose 50,000 barrels last week, the first increase in 13 weeks, according to the median of 12 responses in a Bloomberg News survey. Refineries probably operated at 89.3 percent of capacity, up 1 percentage point from the week before, the survey showed. The driving season begins with the Memorial Day holiday at the end of this month.
Read more at Bloomberg Energy News
Gasoline supplies rose 50,000 barrels last week, the first increase in 13 weeks, according to the median of 12 responses in a Bloomberg News survey. Refineries probably operated at 89.3 percent of capacity, up 1 percentage point from the week before, the survey showed. The driving season begins with the Memorial Day holiday at the end of this month.
Read more at Bloomberg Energy News
SEC to propose new proxy rules in early summer
(Reuters) - Christopher Cox said the investor protection agency is taking a "top-to-bottom look" at the system in which shareholders are allowed to nominate directors, have a voice on issues such as executive compensation and wage proxy fights demanding change.
He said the issue is especially important at a time when hedge funds and new financial instruments have changed the mechanics of the proxy system.
Read more at Reuters.com Government Filings News
He said the issue is especially important at a time when hedge funds and new financial instruments have changed the mechanics of the proxy system.
Read more at Reuters.com Government Filings News
Moody's may cut Alcoa, Alcan ratings on hostile bid
(Reuters) - If successful, the deal would create the world's largest producer of the metal, which is used for products ranging from beverage cans to airplanes, cars and heavy machinery parts.
"The conclusion of the reviews could result in multiple-notch downgrades, possibly to below investment grade," Moody's said in a release.
Read more at Reuters.com Mergers News
"The conclusion of the reviews could result in multiple-notch downgrades, possibly to below investment grade," Moody's said in a release.
Read more at Reuters.com Mergers News
Paraguay president will not seek re-election
(Reuters) - Referring to his own party, Duarte said: "From the Colorado Party's perspective, this chapter of the constitutional amendment and reelection is closed."
The Colorado Party has governed landlocked Paraguay for the past 60 years, counting the nearly 35-year dictatorship of Alfredo Stroessner.
Read more at Reuters.com Bonds News
The Colorado Party has governed landlocked Paraguay for the past 60 years, counting the nearly 35-year dictatorship of Alfredo Stroessner.
Read more at Reuters.com Bonds News
U.S. Treasuries Are Little Changed After Final Auction of Three-Year Notes
(Bloomberg) -- Treasuries were little changed after the government's final auction of three-year notes sold at a 4.574 percent yield, close to traders' forecasts.
A Bloomberg News survey of seven primary dealer firms indicated the securities would price at a 4.572 percent yield. There was $2.39 worth of bids for every $1 sold, up from an average of $2.21 in the last 12 auctions.
Read more at Bloomberg Bonds News
A Bloomberg News survey of seven primary dealer firms indicated the securities would price at a 4.572 percent yield. There was $2.39 worth of bids for every $1 sold, up from an average of $2.21 in the last 12 auctions.
Read more at Bloomberg Bonds News
Brazil to auction highway concessions in October
(Reuters) - Rousseff said bidding rules for the adjusted concessions would be published on July 16.
The program includes highways linking Brazil's industrial center, Sao Paulo, to the cities of Curitiba and Belo Horizonte.
Read more at Reuters.com Economic News
The program includes highways linking Brazil's industrial center, Sao Paulo, to the cities of Curitiba and Belo Horizonte.
Read more at Reuters.com Economic News
Venezuela Dollar Bonds Rise on Easing Threat of Quitting IMF, Debt Default
(Bloomberg) -- Venezuela's dollar bonds rose for the first time in five days as investors say the South American country won't pull out of the International Monetary Fund, avoiding a default on its debt.
President Hugo Chavez said last week he would cancel the country's membership in the IMF and the World Bank because they curtailed Venezuela's ``economic sovereignty.'' The prospectus for the country's bonds states that ``Venezuela ceasing to be a member of the IMF is an event of default.'' Finance Minister Rodrigo Cabezas said last week that Venezuela wouldn't default.
Read more at Bloomberg Bonds News
President Hugo Chavez said last week he would cancel the country's membership in the IMF and the World Bank because they curtailed Venezuela's ``economic sovereignty.'' The prospectus for the country's bonds states that ``Venezuela ceasing to be a member of the IMF is an event of default.'' Finance Minister Rodrigo Cabezas said last week that Venezuela wouldn't default.
Read more at Bloomberg Bonds News
Goldman's Cohen, Prudential's Keon Raise S&P 500 Forecasts, CitingEconomy
(Bloomberg) -- Abby Joseph Cohen, who made her name with bullish calls during the Internet bubble, and Edward Keon, the most optimistic strategist on Wall Street, raised their forecasts for U.S. stocks as the Standard & Poor's 500 Index climbed toward a record.
New York-based Cohen, Goldman's Sachs Group Inc.'s chief U.S. investment strategist in New York, boosted her 2007 estimate for the S&P 500 by 3.2 percent to 1600. The index is within 1.3 percent of an all-time high reached on March 24, 2000, when Cohen was the top-ranked U.S. strategist.
Read more at Bloomberg Stocks News
New York-based Cohen, Goldman's Sachs Group Inc.'s chief U.S. investment strategist in New York, boosted her 2007 estimate for the S&P 500 by 3.2 percent to 1600. The index is within 1.3 percent of an all-time high reached on March 24, 2000, when Cohen was the top-ranked U.S. strategist.
Read more at Bloomberg Stocks News
Treasuries Little Changed Before Auctions and Fed's Interest-Rate Meeting
(Bloomberg) -- Treasuries were little changed as dealers prepared to underwrite the first of three quarterly debt sales totaling $32 billion this week.
Declines in Europe's government bonds also put pressure on U.S. securities, whose yields exceed comparable European debt by historically narrow margins. The yield spreads have compressed amid expectations the European Central Bank will raise interest rates further, while the Federal Reserve is forecast to keep borrowing costs unchanged at its next meeting on May 9.
Read more at Bloomberg Bonds News
Declines in Europe's government bonds also put pressure on U.S. securities, whose yields exceed comparable European debt by historically narrow margins. The yield spreads have compressed amid expectations the European Central Bank will raise interest rates further, while the Federal Reserve is forecast to keep borrowing costs unchanged at its next meeting on May 9.
Read more at Bloomberg Bonds News
Sarkozy Claims Mandate for Tax Cuts, Reforms After Winning French Election
(Bloomberg) -- Nicolas Sarkozy claimed a mandate for change after his election as French president, pledging to unify the country as he began promoting a program of tax cuts, tougher prison sentences and tighter immigration rules.
``The people of France have chosen to break with their ideas, habits and behavior of the past,'' Sarkozy, 52, said late yesterday in a victory speech in Paris after congratulating his Socialist opponent, Segolene Royal. ``I will restore the value of work, authority, morals, respect, and merit. I'll restore national pride and national identity.''
Read more at Bloomberg Currencies News
``The people of France have chosen to break with their ideas, habits and behavior of the past,'' Sarkozy, 52, said late yesterday in a victory speech in Paris after congratulating his Socialist opponent, Segolene Royal. ``I will restore the value of work, authority, morals, respect, and merit. I'll restore national pride and national identity.''
Read more at Bloomberg Currencies News
Fannie Mae to sell $4.0 billion bills on Wednesday
(Reuters) - Bids will be accepted from authorized dealers from 9:00 a.m. , until 9:45 a.m. .
Settlement is May 9-10.
Read more at Reuters.com Bonds News
Settlement is May 9-10.
Read more at Reuters.com Bonds News
Buffett says unlikely he would bid for Dow Jones
(Reuters) - "I couldn't do it for Berkshire," Buffett said during an interview on the business news channel CNBC.
Buffett acknowledged that deep-pocketed investors around the world are salivating at the prospect of owning the Wall Street Journal as part of an acquisition of Dow Jones.
Read more at Reuters.com Business News
Buffett acknowledged that deep-pocketed investors around the world are salivating at the prospect of owning the Wall Street Journal as part of an acquisition of Dow Jones.
Read more at Reuters.com Business News
Goldman's Cohen, Prudential's Keon Raise S&P 500 Forecasts, Citing Econom
(Bloomberg) -- Abby Joseph Cohen of Goldman Sachs Group Inc. and Edward Keon of Prudential Equity Group LLC raised their year-end forecasts for U.S. stocks, citing prospects for growth in the economy.
Cohen, Goldman's chief investment strategist, expects the Standard & Poor's 500 Index to reach 1600 and the Dow Jones Industrial Average to climb to 14,000. The S&P 500 closed on May 4 at 1505.62, the highest since September 2000. Cohen's new estimate implies a 6.3 percent advance from the current level.
Read more at Bloomberg Stocks News
Cohen, Goldman's chief investment strategist, expects the Standard & Poor's 500 Index to reach 1600 and the Dow Jones Industrial Average to climb to 14,000. The S&P 500 closed on May 4 at 1505.62, the highest since September 2000. Cohen's new estimate implies a 6.3 percent advance from the current level.
Read more at Bloomberg Stocks News
Platinum Rises to Record as South Africa Strike Lingers; Palladium Climbs
(Bloomberg) -- Platinum futures rose to a record in New York as a strike in South Africa entered its second week, threatening to cut supplies. Palladium also gained.
About 5,500 workers went on strike on April 29 at the world's deepest platinum mine, operated by Johannesburg-based Northam Platinum Holdings Ltd. Before today, the metal had gained 16 percent this year amid rising demand from makers of jewelry and pollution-control devices for cars.
Read more at Bloomberg Commodities News
About 5,500 workers went on strike on April 29 at the world's deepest platinum mine, operated by Johannesburg-based Northam Platinum Holdings Ltd. Before today, the metal had gained 16 percent this year amid rising demand from makers of jewelry and pollution-control devices for cars.
Read more at Bloomberg Commodities News
RUSAL says Alcoa/Alcan bid won't affect its strategy
(Reuters) - "In any case, the information that has appeared will not affect the strategy of UC RUSAL as an energy and metallurgy company which has been the leader in the growth and efficiency dynamics in the last four years."
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
U.S. Treasuries Steady Before Auctions Totaling $32 Billion, Fed Meeting
(Bloomberg) -- Treasuries were little changed as dealers prepared to underwrite the first of three quarterly debt sales totaling $32 billion this week.
Declines in Europe's government bonds also put pressure on U.S. securities, whose yields exceed comparable European debt by historically narrow margins. The yield spreads have compressed amid expectations the European Central Bank will raise interest rates further, while the Federal Reserve is forecast to keep borrowing costs unchanged at its next meeting on May 9.
Read more at Bloomberg Bonds News
Declines in Europe's government bonds also put pressure on U.S. securities, whose yields exceed comparable European debt by historically narrow margins. The yield spreads have compressed amid expectations the European Central Bank will raise interest rates further, while the Federal Reserve is forecast to keep borrowing costs unchanged at its next meeting on May 9.
Read more at Bloomberg Bonds News
South Africa's Rand Extends Gains as Prices of Gold and Platinum Advance
(Bloomberg) -- The South African rand gained for a fifth day, its longest winning run in more than a month, as gold and platinum prices advanced.
The currency of Africa's largest economy reversed earlier losses as the price of the precious metals, which together account for about a fifth of exports, rose. The currency often moves in tandem with the metals and higher prices mean increased revenue from abroad and a stronger rand.
Read more at Bloomberg Currencies News
The currency of Africa's largest economy reversed earlier losses as the price of the precious metals, which together account for about a fifth of exports, rose. The currency often moves in tandem with the metals and higher prices mean increased revenue from abroad and a stronger rand.
Read more at Bloomberg Currencies News
CORRECTED - CORRECTED-CORRECTED-KMG America exploring strategic alternatives
(Reuters) - The insurance holding company posted a loss of $9.4 million, or 42 cents in the first quarter, compared with a profit of $1.2 million, or 6 cents a share, in the year-ago period. Excluding the charges, it would have reported earnings per share of 5 cents.
KMG said it retained Keefe, Bruyette and Woods as its financial advisor.
Read more at Reuters.com Market News
KMG said it retained Keefe, Bruyette and Woods as its financial advisor.
Read more at Reuters.com Market News
Emerging Market Index Tops 1000 on Prospects for Spending, Profit Growth
(Bloomberg) -- A four-day rally pushed the Morgan Stanley Capital International benchmark index for emerging market stocks above 1000 for the first time, helped by speculation that earnings growth in Brazil, China, Russia and India will benefit from higher domestic spending.
The Morgan Stanley Capital International index of emerging market shares rose 0.7 percent to 1002.42 at 8:50 a.m. in New York. The measure surged 19 percent since March 5, when the worst weekly emerging market sell-off in eight months ended, and is 6.2 percent above its highest level before the rout.
Read more at Bloomberg Stocks News
The Morgan Stanley Capital International index of emerging market shares rose 0.7 percent to 1002.42 at 8:50 a.m. in New York. The measure surged 19 percent since March 5, when the worst weekly emerging market sell-off in eight months ended, and is 6.2 percent above its highest level before the rout.
Read more at Bloomberg Stocks News
UPDATE 1-Canada March building permits see record jump
(Reuters) - The monthly jump in building intentions was the biggest ever, and well ahead of the average forecast of a 6.7 percent gain by analysts in a Reuters poll. The gain followed a 23.3-percent plunge in the value of permits in February, according to Statscan's revised figures.
Building intentions surged 25.6 percent in the residential sector and 30.2 percent in the non-residential sector in March.
Read more at Reuters.com Economic News
Building intentions surged 25.6 percent in the residential sector and 30.2 percent in the non-residential sector in March.
Read more at Reuters.com Economic News
Banco Bradesco, Datasul, Grupo Mexico, Lojas Renner: Latin Equity Preview
(Bloomberg) -- The following stocks may make significant gains or losses in Brazil and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session. In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
UPDATE 1-Fossil says review finds incorrect option dates
(Reuters) - Fossil said it will record related an additional stock-based compensation expense of about $16 million for 1993 to 2006.
As a result, it will restate results for 2004 and 2005 and the first and second fiscal quarters of 2006.
Read more at Reuters.com Market News
As a result, it will restate results for 2004 and 2005 and the first and second fiscal quarters of 2006.
Read more at Reuters.com Market News
CHRONOLOGY: Nigerian militant attacks on oil industry
(Reuters) - Below is a chronology of some major attacks and kidnappings involving the Nigerian oil industry this year.
-- January 12, 2007 - Nine South Korean workers and one Nigerian are freed two days after being kidnapped from the Bayelsa state capital, Yenagoa.
Read more at Reuters.com Business News
-- January 12, 2007 - Nine South Korean workers and one Nigerian are freed two days after being kidnapped from the Bayelsa state capital, Yenagoa.
Read more at Reuters.com Business News
U.S. Treasuries Slip Ahead of Quarterly Refunding, Fed Policy Meeting
(Bloomberg) -- U.S. Treasuries slipped ahead of the sale today of $39 billion of bills and notes and a Federal Reserve policy meeting that is expected to leave interest rates unchanged this week.
The U.S. Treasury will hold its quarterly auctions of three- and 10-year notes as well as 30-year bonds today, tomorrow, and May 10. All 90 economists polled by Bloomberg expect the Fed to leave the target for the overnight lending rate between banks unchanged at their meeting this week.
Read more at Bloomberg Bonds News
The U.S. Treasury will hold its quarterly auctions of three- and 10-year notes as well as 30-year bonds today, tomorrow, and May 10. All 90 economists polled by Bloomberg expect the Fed to leave the target for the overnight lending rate between banks unchanged at their meeting this week.
Read more at Bloomberg Bonds News
European Two-Year Government Bond Yields Rise to Five-Year High Before ECB
(Bloomberg) -- European government bonds fell, pushing two-year yields to a five-year high, on speculation the European Central Bank will this week signal an increase in interest rates in June to head off inflation.
Two-year bund yields have risen 32 basis points since the ECB raised borrowing costs in March as traders boosted bets on two more increases this year. Policy makers may hold rates at the May 10 meeting and flag a move next month. President Jean-Claude Trichet has said he's comfortable with investors' expectations the ECB will lift rates a quarter-point to 4 percent in June, while other policy makers have warned of inflation risks.
Read more at Bloomberg Bonds News
Two-year bund yields have risen 32 basis points since the ECB raised borrowing costs in March as traders boosted bets on two more increases this year. Policy makers may hold rates at the May 10 meeting and flag a move next month. President Jean-Claude Trichet has said he's comfortable with investors' expectations the ECB will lift rates a quarter-point to 4 percent in June, while other policy makers have warned of inflation risks.
Read more at Bloomberg Bonds News
Kenya shilling near 4-year high on c.bank comment
(Reuters) - Kenya's shilling neared a four-year high against the dollar on Monday, helped by comments from the new central bank governor that a financial boom in the last three years boosted economic growth, dealers said.
In an interview with Reuters, governor Njuguna Ndung'u forecast 8 percent growth by 2008 and defended the shilling's recent strength, citing a boom over the past three years.
Read more at Reuters Africa
In an interview with Reuters, governor Njuguna Ndung'u forecast 8 percent growth by 2008 and defended the shilling's recent strength, citing a boom over the past three years.
Read more at Reuters Africa
Charter Comm gets limited waiver from integrated security ban
(Reuters) - Under the FCC rules, cable operators are prevented from deploying set-top boxes with integrated security after July 1, 2007, the company said.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
European shares dip as ABN AMRO, oil stocks weigh
(Reuters) - European share indexes dipped on Monday, weighed on by a decline in ABN AMRO and French oil group Total, while a holiday in the UK kept a cap on activity.
ABN AMRO fell 2.2 percent after the company rejected a $24.5 billion offer for the Dutch bank's U.S. bank LaSalle from a consortium led by Royal Bank of Scotland. Analysts had said the offer was below expectations and ABN AMRO's takeover still remained uncertain.
Read more at Reuters Africa
ABN AMRO fell 2.2 percent after the company rejected a $24.5 billion offer for the Dutch bank's U.S. bank LaSalle from a consortium led by Royal Bank of Scotland. Analysts had said the offer was below expectations and ABN AMRO's takeover still remained uncertain.
Read more at Reuters Africa
CardioMEMS files to withdraw IPO plans
(Reuters) - It had expected the shares to price between $12 to $14 each, and had signed on Banc of America Securities and CIBC World Markets as the lead underwriters.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Ping An, China Overseas Land May Join Hong Kong Hang Seng Index in Review
(Bloomberg) -- Ping An Insurance (Group) Co., China's second-biggest insurer, may join Hong Kong's Hang Seng Index after a quarterly review of the stock benchmark, Nomura Holdings Inc. and Core Pacific-Yamaichi International (H.K.) Ltd. said.
China Overseas Land & Investment Ltd., a Hong Kong-based developer controlled by China's construction ministry, also may be added, said Kent Yau, deputy head of research at Core Pacific- Yamaichi in Hong Kong. HSI Services Ltd., which compiles Hong Kong's stock indexes, will announce the changes May 11, according to its Web site.
Read more at Bloomberg Stocks News
China Overseas Land & Investment Ltd., a Hong Kong-based developer controlled by China's construction ministry, also may be added, said Kent Yau, deputy head of research at Core Pacific- Yamaichi in Hong Kong. HSI Services Ltd., which compiles Hong Kong's stock indexes, will announce the changes May 11, according to its Web site.
Read more at Bloomberg Stocks News
American Tower posts Q1 profit
(Reuters) - The company reported a first-quarter net income of $22.2 million, or 5 cents a share, compared with a loss of $1.9 million, or 1 cent a share, a year ago.
Total revenue was $352.5 million, the operator of wireless and broadcast communications towers said in a statement.
Read more at Reuters.com Market News
Total revenue was $352.5 million, the operator of wireless and broadcast communications towers said in a statement.
Read more at Reuters.com Market News
European Union Says Incentives Will Encourage Sugar Growers to Cut Output
(Bloomberg) -- Changes to the European Union's system of incentive payments for sugar producers willing to cut output will encourage ``many more'' companies to apply for the payments and renounce production quotas, the EU said.
The changes to the incentives, which began in February 2006, include limiting the amount of the payments that must be reserved for growers, the EU said in a statement sent by e-mail from Brussels. Growers will get a separate payment of 237.50 euros ($323) in 2008-09 for each ton of sugar they stop growing.
Read more at Bloomberg Commodities News
The changes to the incentives, which began in February 2006, include limiting the amount of the payments that must be reserved for growers, the EU said in a statement sent by e-mail from Brussels. Growers will get a separate payment of 237.50 euros ($323) in 2008-09 for each ton of sugar they stop growing.
Read more at Bloomberg Commodities News
U.S. Stock-Index Futures Drop; Exxon Falls, Armor Holdings Gains in Europe
(Bloomberg) -- U.S. stock-index futures dropped as investors speculated Federal Reserve Chairman Ben S. Bernanke and other policy makers are unlikely to cut interest rates to revive a faltering economy when they meet this week.
There won't be a rate cut ``anytime soon and investors are waking up to this reality,'' said Maurizio Binelli, a strategist at Abaxbank SpA in Milan. ``The risk of a slowdown in the economy is there and Bernanke isn't going to be as activist as his predecessor.''
Read more at Bloomberg Stocks News
There won't be a rate cut ``anytime soon and investors are waking up to this reality,'' said Maurizio Binelli, a strategist at Abaxbank SpA in Milan. ``The risk of a slowdown in the economy is there and Bernanke isn't going to be as activist as his predecessor.''
Read more at Bloomberg Stocks News
SNS Reaal says Q1 net profit drops on storm
(Reuters) - AMSTERDAM, May 7 - Dutch bank SNS Reaal ," SNS Reaal's Chief Finance Ronald Latenstein van Voorst said during a conference call.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Time Warner Cable Takes on Telephone Providers With Business Voice Service
(Bloomberg) -- Time Warner Cable Inc., having lured 2.1 million residential phone customers in its service's first three years, is now setting its sights on companies, escalating competition with telephone providers.
Time Warner Cable is about three weeks into selling phone service to small- and medium-size companies in five cities including Austin, Texas, and Syracuse, New York, Chief Executive Officer Glenn Britt said.
Read more at Bloomberg Exclusive News
Time Warner Cable is about three weeks into selling phone service to small- and medium-size companies in five cities including Austin, Texas, and Syracuse, New York, Chief Executive Officer Glenn Britt said.
Read more at Bloomberg Exclusive News
Japanese Shares Climb, Led by Mitsubishi Estate on Earnings Outlook, Canon
(Bloomberg) -- Japanese stocks advanced, with the Topix index posting the largest gain since March. Companies that will report earnings this week rose after the Nikkei newspaper said profit at Tokyo Electron Ltd. will climb to a record.
Mitsubishi Estate Co., which is scheduled to report on May 10, climbed 4 percent. Toyota Motor Corp., which is set to announce results on May 9, advanced 0.6 percent.
Read more at Bloomberg Stocks News
Mitsubishi Estate Co., which is scheduled to report on May 10, climbed 4 percent. Toyota Motor Corp., which is set to announce results on May 9, advanced 0.6 percent.
Read more at Bloomberg Stocks News
French Stocks Including Alstom, Bouygues Gain on Areva Report; Total Falls
(Bloomberg) -- French stocks including Alstom SA and Bouygues SA increased while Total SA declined.
The benchmark CAC 40 Index climbed 6.37, or 0.1 percent, to 6075.2 as of 9:19 a.m. in Paris. The broader SBF 120 Index gained 0.1 percent.
Read more at Bloomberg Stocks News
The benchmark CAC 40 Index climbed 6.37, or 0.1 percent, to 6075.2 as of 9:19 a.m. in Paris. The broader SBF 120 Index gained 0.1 percent.
Read more at Bloomberg Stocks News
European Government Bonds Fall on Speculation ECB to Signal Rate Increase
(Bloomberg) -- European government bonds fell, pushing 10-year yields to near a 33-month high, on speculation the European Central Bank will this week signal an increase in interest rates in June to head off inflation.
Ten-year bund yields have risen 28 basis points since the ECB raised borrowing costs in March as traders boosted bets on two more increases this year. Policy makers may hold rates at the May 10 meeting and flag a move next month. President Jean-Claude Trichet has said he's comfortable with investors' expectations the ECB will lift rates a quarter-point to 4 percent in June while other policy makers have warned of inflation risks.
Read more at Bloomberg Bonds News
Ten-year bund yields have risen 28 basis points since the ECB raised borrowing costs in March as traders boosted bets on two more increases this year. Policy makers may hold rates at the May 10 meeting and flag a move next month. President Jean-Claude Trichet has said he's comfortable with investors' expectations the ECB will lift rates a quarter-point to 4 percent in June while other policy makers have warned of inflation risks.
Read more at Bloomberg Bonds News
S.Korea won at 4- mth high as shares at record
(Reuters) - The won was last quoted at 922.3/5 per dollar, just shy of the session high of 922.10, its strongest since December 18's 921.30.
That compared with Friday closing bid of 927.3.
Read more at Reuters.com Hot Stocks News
That compared with Friday closing bid of 927.3.
Read more at Reuters.com Hot Stocks News
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