(Bloomberg) -- The following stocks may rise or fall on the Paris stock exchange. Symbols are in parentheses after company names. Prices are from yesterday's close.
April futures on the benchmark CAC 40 Index slid 21 to 5844 at 8:15 a.m. in Paris.
Read more at Bloomberg Stocks News
Monday, April 16, 2007
Converium sues Scor in US in hostile bid wrangle
(Reuters) - ZURICH, April 17 - Swiss reinsurer Converium said it had filed a U.S. lawsuit against Scor , taking the next step to fend off a $2.5 billion hostile takeover bid by its French rival. Converium said Scor had unlawfully excluded Converium's shareholders in the United States from its bid. Scor had also failed to make proper disclosures on its purchase of Converium shares, Converium said in a statement on Tuesday.
"Converium is seeking an order enjoining Scor from consummating the offer until Scor and Patinex have complied with their obligations ... including Scor extending the offer to Converium's United States shareholders," Converium said.
Read more at Reuters.com Mergers News
"Converium is seeking an order enjoining Scor from consummating the offer until Scor and Patinex have complied with their obligations ... including Scor extending the offer to Converium's United States shareholders," Converium said.
Read more at Reuters.com Mergers News
European Government Bonds Are Little Changed Before German Sentiment Index
(Bloomberg) -- European government bonds were little changed before a report that's expected to show confidence among German investors rose to a nine-month high in April, adding to expectations for higher interest rates in Europe.
Benchmark debt fell for a fourth week after the European Central Bank reinforced speculation it may lift borrowing costs by half a percentage point this year. The ZEW Center for European Economic Research may say its gauge of investor expectations rose to the highest since July 2006, according to a Bloomberg survey.
Read more at Bloomberg Bonds News
Benchmark debt fell for a fourth week after the European Central Bank reinforced speculation it may lift borrowing costs by half a percentage point this year. The ZEW Center for European Economic Research may say its gauge of investor expectations rose to the highest since July 2006, according to a Bloomberg survey.
Read more at Bloomberg Bonds News
Burberry second-half sales jump 19 percent
(Reuters) - The firm said wholesale revenue increased 17 percent in the second half on an underlying basis as licensing revenue increased 15 percent.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Argentina, Brazil, Colombia, Peru, Venezuela: Latin America Bond Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds today. Bond yields are from the previous session.
Argentina: South America' second-largest economy likely expanded 7.9 percent in February from a year earlier, according to a Bloomberg survey of six economists. Economic activity in February slowed from 8.4 percent in the 12 months through January. Commodities' exports and manufacturing paced the growth.
Read more at Bloomberg Bonds News
Argentina: South America' second-largest economy likely expanded 7.9 percent in February from a year earlier, according to a Bloomberg survey of six economists. Economic activity in February slowed from 8.4 percent in the 12 months through January. Commodities' exports and manufacturing paced the growth.
Read more at Bloomberg Bonds News
EEIC fund owns just over 3 pct of Vivendi -paper
(Reuters) - "We met Vivendi directors a few months ago. We own just over 3 percent of its capital. It's an investment of between 1 billion and 1.1 billion euros , for the long term, for at least a period of four to five years," EIIC Chief Executive Mehdi Dazi was quoted as saying in the interview published on Tuesday.
Vivendi plans to appoint Dazi as supervisory board member.
Read more at Reuters.com Bonds News
Vivendi plans to appoint Dazi as supervisory board member.
Read more at Reuters.com Bonds News
Bush urges Democrats set aside Iraq pullout date
(Reuters) - Appearing in the White House East Room with military family members, Bush stepped up the rhetoric on his money request ahead of a meeting on Wednesday with Democratic and Republican leaders of the Senate and House of Representatives.
"I hope the Democratic leadership will drop their unreasonable demand for a precipitous withdrawal," Bush said.
Read more at Reuters.com Bonds News
"I hope the Democratic leadership will drop their unreasonable demand for a precipitous withdrawal," Bush said.
Read more at Reuters.com Bonds News
C&D Technologies posts Q4 loss on rising raw material prices
(Reuters) - Results for the latest quarter included net restructuring and other special charges of $5.1 million, it said in a statement.
C&D said restructuring and severance charges at its standby power division were about $4.4 million during the quarter as it cut about 250 jobs in its Chinese joint venture and closed its Conyers, Georgia facility.
Read more at Reuters.com Market News
C&D said restructuring and severance charges at its standby power division were about $4.4 million during the quarter as it cut about 250 jobs in its Chinese joint venture and closed its Conyers, Georgia facility.
Read more at Reuters.com Market News
UPDATE 2-Fed's Fisher - bad fiscal policy pressures the Fed
(Reuters) - DALLAS, April 16 - Dallas Federal Reserve Bank President Richard Fisher said on Monday the United States faces grave fiscal challenges and unless these are resolved, it will have implications for Fed policy and the dollar.
"Congress holds the power of the purse. But the Fed cannot be an indifferent bystander to the overall thrust of fiscal policy," he said in remarks to the Equipment Leasing and Finance Association.
Read more at Reuters.com Bonds News
"Congress holds the power of the purse. But the Fed cannot be an indifferent bystander to the overall thrust of fiscal policy," he said in remarks to the Equipment Leasing and Finance Association.
Read more at Reuters.com Bonds News
New York expands student loan probe to 13 lenders
(Reuters) - In related news, Cuomo's office said that the attorney general and New York state legislative leaders would announce legislation regarding student loan practices later on Monday. The bill would require all New York colleges to adopt Cuomo's code of conduct for student loans or face fines.
With the new inquiries, sent Friday, Cuomo's investigation has now expanded to include the top 20 student lenders commanding more than 80 percent of the $85 billion a year U.S. student lending business.
Read more at Reuters.com Business News
With the new inquiries, sent Friday, Cuomo's investigation has now expanded to include the top 20 student lenders commanding more than 80 percent of the $85 billion a year U.S. student lending business.
Read more at Reuters.com Business News
FFCB to sell $1.5 bln 3-year designated bonds
(Reuters) - The joint lead managers on the sale are Barclays Capital, Nomura Securities International and UBS Securities.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Teal pushes ahead with Zambia, Congo copper projects
(Reuters) - Teal Exploration and Mining Inc. could produce about 80,000 tonnes of finished copper from mines in Zambia and the Democratic Republic of Congo by 2010, a company official said on Monday.
Julian Gwillim, vice president for investor relations and corporate development at the Canadian firm, said the company's 70-percent owned Mwambashi copper project in Zambia could begin producing 12,000 tonnes of copper in early 2008.
Read more at Reuters Africa
Julian Gwillim, vice president for investor relations and corporate development at the Canadian firm, said the company's 70-percent owned Mwambashi copper project in Zambia could begin producing 12,000 tonnes of copper in early 2008.
Read more at Reuters Africa
Citigroup, GPC Biotech, Innkeepers, Mattel, Vertex: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 9:30 a.m. New York time.
Adobe Systems Inc. (ADBE US) added $1.16, or 2.8 percent, to $42.80 and traded as high as $42.90. The software maker's shares may climb above $50 within a year as more people use broadband Internet connections and mobile devices, Barron's said, citing Jeffrey Hammond of Forrester Research.
Read more at Bloomberg Stocks News
Adobe Systems Inc. (ADBE US) added $1.16, or 2.8 percent, to $42.80 and traded as high as $42.90. The software maker's shares may climb above $50 within a year as more people use broadband Internet connections and mobile devices, Barron's said, citing Jeffrey Hammond of Forrester Research.
Read more at Bloomberg Stocks News
UPDATE 1-Fed's Fisher - bad fiscal policy pressures the Fed
(Reuters) - "Congress holds the power of the purse. But the Fed cannot be an indifferent bystander to the overall thrust of fiscal policy," he said in remarks to the Equipment Leasing and Finance Association.
Fisher is not a voting member of the U.S. central bank's policy-setting committee this year.
Read more at Reuters.com Bonds News
Fisher is not a voting member of the U.S. central bank's policy-setting committee this year.
Read more at Reuters.com Bonds News
Freddie Mac to sell $1.24 bln REMICs on Thursday
(Reuters) - Credit Suisse, Deutsche Bank Securities and Merrill Lynch are the joint lead managers on the sale.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
UPDATE 1-Moody's says may cut SLM to "junk" on buyout
(Reuters) - Moody's said in a statement it might cut Sallie Mae's A2 rating by "multiple notches ... potentially to speculative grade" due to the debt that would be added to the company's balance sheet by the buyout. The rating is currently five notches above "junk" status.
"SLM's financial flexibility as well as debt protection measures for unsecured bondholders would be significantly impaired ... Cash flow coverage measures will be weak," the credit ratings agency said in a statement.
Read more at Reuters.com Bonds News
"SLM's financial flexibility as well as debt protection measures for unsecured bondholders would be significantly impaired ... Cash flow coverage measures will be weak," the credit ratings agency said in a statement.
Read more at Reuters.com Bonds News
Dollar little changed after capital flows data
(Reuters) - The dollar remained little changed on Monday against the euro and yen after a government report showed net U.S. capital inflows rose more than expected in February.
The dollar traded at 119.53 yen, up 0.23 percent from 119.50 right before the data. The euro changed hands at $1.3548, up 0.13 percent.
Read more at Reuters Africa
The dollar traded at 119.53 yen, up 0.23 percent from 119.50 right before the data. The euro changed hands at $1.3548, up 0.13 percent.
Read more at Reuters Africa
US FDA reviewer supports new use for Bristol drug
(Reuters) - The drug, known generically as irbesartan/hydrochlorothiazide, is already approved to treat hypertension but not as an initial treatment.
The U.S. Food and Drug Administration staff reviewer also said post-approval action such as more study was not needed.
Read more at Reuters.com Government Filings News
The U.S. Food and Drug Administration staff reviewer also said post-approval action such as more study was not needed.
Read more at Reuters.com Government Filings News
US STOCKS-Wall St seen up on Sallie Mae, sales data
(Reuters) - NEW YORK, April 16 - U.S. stocks were set to open higher on Monday, boosted by news of a $25 billion buyout of student loan company Sallie Mae, solid earnings reports and data pointing to continued strength in consumer spending.
Private-investment funds JC Flowers & Co. and Friedman Fleischer & Lowe plan to take a 50.2 percent stake in SLM Corp. , better known as Sallie Mae, the student loan company said.
Read more at Reuters.com Bonds News
Private-investment funds JC Flowers & Co. and Friedman Fleischer & Lowe plan to take a 50.2 percent stake in SLM Corp. , better known as Sallie Mae, the student loan company said.
Read more at Reuters.com Bonds News
KKR says it not in talks with Celesio on Boots
(Reuters) - KKR and Alliance Boots Deputy Chairman Stefano Pessina have finished due diligence on their joint offer for Britain's biggest pharmacy chain, a person familiar with the matter has told Reuters.
The Sunday Express said Germany's Celesio had asked KKR to break up the Alliance Boots business and sell it up to 1,000 pharmacies.
Read more at Reuters.com Mergers News
The Sunday Express said Germany's Celesio had asked KKR to break up the Alliance Boots business and sell it up to 1,000 pharmacies.
Read more at Reuters.com Mergers News
Crude Trades Near $64 a Barrel in New York on Rising Demand for Gasoline
(Bloomberg) -- Crude oil traded near $64 a barrel in New York on expectations of higher gasoline demand this summer in the U.S, the world's largest energy consumer.
U.S. gasoline supplies were 4 percent below their five-year average, the Energy Department reported last week. Refineries ran at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, as they ended maintenance and began making more fuel. With demand for gasoline growing, OPEC said today in its monthly report, pumping more crude won't bring prices down.
Read more at Bloomberg Energy News
U.S. gasoline supplies were 4 percent below their five-year average, the Energy Department reported last week. Refineries ran at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, as they ended maintenance and began making more fuel. With demand for gasoline growing, OPEC said today in its monthly report, pumping more crude won't bring prices down.
Read more at Bloomberg Energy News
US RATE FUTURES-Inch down on solid March retail sales
(Reuters) - March retail sales rose by a slightly more than expected 0.7 percent, although much of the advance reflected higher gasoline prices.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
AQuantive, China Mobile, Ericsson, Sallie Mae, Vertex: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
Adobe Systems Inc. (ADBE US): The software maker's shares may climb above $50 within a year as more people use broadband Internet connections and mobile devices, Barron's said, citing Jeffrey Hammond of Forrester Research. The stock fell 76 cents to $41.64 in regular trading.
Read more at Bloomberg Stocks News
Adobe Systems Inc. (ADBE US): The software maker's shares may climb above $50 within a year as more people use broadband Internet connections and mobile devices, Barron's said, citing Jeffrey Hammond of Forrester Research. The stock fell 76 cents to $41.64 in regular trading.
Read more at Bloomberg Stocks News
BCE institutional shareholders back buyout -report
(Reuters) - "There's nothing formal going around yet, but it could be building toward that," another source close to the process said.
BCE's stock closed at C$34.84 on the Toronto Stock Exchange on Friday.
Read more at Reuters.com Mergers News
BCE's stock closed at C$34.84 on the Toronto Stock Exchange on Friday.
Read more at Reuters.com Mergers News
UPDATE 2-Mattel posts surprise profit
(Reuters) - Net income at the largest U.S. toy maker fell to $12 million, or 3 cents a share, from $30.2 million, or 8 cents a share, a year earlier. The year-earlier quarter's results were boosted by a $57 million tax benefit.
Analysts on average were expecting a loss of 5 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average were expecting a loss of 5 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Brazilian Economists Forecast Economic Growth at 4 Percent for 2007, 2008
(Bloomberg) -- Brazilian economists raised their 2007 and 2008 forecasts for the country's economic growth for a fourth week after the national statistics agency changed its methodology to calculate Brazil's output.
Gross domestic product will likely expand 4 percent in 2007 and in 2008, compared with a forecast of 3.9 percent for both years a week earlier, according to the median estimate of about 100 economists in a central bank survey taken April 13 and published today.
Read more at Bloomberg Emerging Markets News
Gross domestic product will likely expand 4 percent in 2007 and in 2008, compared with a forecast of 3.9 percent for both years a week earlier, according to the median estimate of about 100 economists in a central bank survey taken April 13 and published today.
Read more at Bloomberg Emerging Markets News
Barclays's Varley Sees Tables Turned After Rival Bid Surfaces for ABN Amro
(Bloomberg) -- Barclays Plc Chief Executive Officer John Varley set out about a month ago to pull off the world's biggest bank takeover. Now Britain's third-largest lender may find itself on the defensive.
While Varley may still win ABN Amro Holding NV, his prospects dimmed April 13 when Royal Bank of Scotland Group Plc said it may team with two partners to make a rival bid. The talks had lifted the market value of ABN Amro, the biggest Dutch bank, more than 20 percent in the past month to 64 billion euros ($88 billion). ABN Amro shares surged 5.5 percent to 35.51 euros today in Amsterdam as of 11:45 a.m.
Read more at Bloomberg Exclusive News
While Varley may still win ABN Amro Holding NV, his prospects dimmed April 13 when Royal Bank of Scotland Group Plc said it may team with two partners to make a rival bid. The talks had lifted the market value of ABN Amro, the biggest Dutch bank, more than 20 percent in the past month to 64 billion euros ($88 billion). ABN Amro shares surged 5.5 percent to 35.51 euros today in Amsterdam as of 11:45 a.m.
Read more at Bloomberg Exclusive News
U.S. Stock-Index Futures Rise; Google, Citigroup Shares Advance in Europe
(Bloomberg) -- U.S. stock-index futures rose on mergers and acquisitions speculation after SLM Corp., the education lender known as Sallie Mae, accepted a $25 billion bid.
Shares of SLM, which didn't trade in Europe, may be active after the company agreed to the offer. Google Inc., the most-used Internet search engine, gained after agreeing to buy DoubleClick Inc. for $3.1 billion in its biggest-ever acquisition.
Read more at Bloomberg Stocks News
Shares of SLM, which didn't trade in Europe, may be active after the company agreed to the offer. Google Inc., the most-used Internet search engine, gained after agreeing to buy DoubleClick Inc. for $3.1 billion in its biggest-ever acquisition.
Read more at Bloomberg Stocks News
UPDATE 1-Citigroup first-quarter profit falls
(Reuters) - Earnings fell to $5.01 billion, or $1.01 per share, from $5.64 billion, or $1.12, a year earlier.
Excluding an $871 million after-tax restructuring charge, the company posted a profit of $1.18 per share, which beat the average Wall Street estimate of $1,10, as compiled by Reuters Estimates.
Read more at Reuters.com Market News
Excluding an $871 million after-tax restructuring charge, the company posted a profit of $1.18 per share, which beat the average Wall Street estimate of $1,10, as compiled by Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-TomoTherapy sets IPO at 10.9 mln shares, $15-$17
(Reuters) - Merrill Lynch & Co., Piper Jaffray, Thomas Weisel Partners LLC, Robert W. Baird & Co. and William Blair & Co. are underwriting the IPO, according to an amended filing with the U.S. Securities and Exchange Commission.
The company intends to list its stock on Nasdaq under the symbol "TTPY."
Read more at Reuters.com Government Filings News
The company intends to list its stock on Nasdaq under the symbol "TTPY."
Read more at Reuters.com Government Filings News
Crude Oil Climbs Above $64 a Barrel Amid Rising U.S. Demand for Gasoline
(Bloomberg) -- Crude oil rose above $64 a barrel in New York on expectations of higher gasoline demand this summer in the U.S, the world's largest energy consumer.
U.S. gasoline supplies were 4 percent below their five-year average, according to Energy Department data. Refineries ran at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, as they ended maintenance and began making more fuel.
Read more at Bloomberg Commodities News
U.S. gasoline supplies were 4 percent below their five-year average, according to Energy Department data. Refineries ran at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, as they ended maintenance and began making more fuel.
Read more at Bloomberg Commodities News
London Hedge Funds Have Doubled Their Market Share Since 2002, Survey Says
(Bloomberg) -- Hedge-fund managers based in London looked after six times more assets last year than they did in 2002 and have more than doubled their market share of assets in the same period, a survey said.
Assets overseen by firms including Marshall Wace, GLG Partners LP and CQS UK LLP last year jumped 40 percent from a year earlier to $360 billion. London accounted for 21 percent of the $1.5 trillion managed by hedge funds worldwide, according to a survey by International Financial Services London, an industry body, compared with 10 percent the previous year.
Read more at Bloomberg Stocks News
Assets overseen by firms including Marshall Wace, GLG Partners LP and CQS UK LLP last year jumped 40 percent from a year earlier to $360 billion. London accounted for 21 percent of the $1.5 trillion managed by hedge funds worldwide, according to a survey by International Financial Services London, an industry body, compared with 10 percent the previous year.
Read more at Bloomberg Stocks News
Mattel posts higher-than-expected profit
(Reuters) - Analysts on average were expecting a loss of 5 cents a share, according to Reuters Estimates.
Sales increased to $940.3 million from $793.3 million, topping the analysts' average estimate of $847.8 million.
Read more at Reuters.com Business News
Sales increased to $940.3 million from $793.3 million, topping the analysts' average estimate of $847.8 million.
Read more at Reuters.com Business News
Eli Lilly Q1 profit falls, hurt by charges
(Reuters) - Excluding special items, the company earned 84 cents per share. Analysts on average expected 79 cents per share, according to Reuters Estimates.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Philippine Bonds Gain on Speculation Rates Won't Rise; Currency Advances
(Bloomberg) -- Philippine government bonds had the biggest gain in three weeks on speculation the central bank won't raise borrowing costs. The peso rose to a six-year high.
``The market could be anticipating that the central bank would keep the status quo, meaning it may not remove the tiered rate yet,'' said Adelbert Legasto, executive vice president at BPI Asset Management in Manila.
Read more at Bloomberg Bonds News
``The market could be anticipating that the central bank would keep the status quo, meaning it may not remove the tiered rate yet,'' said Adelbert Legasto, executive vice president at BPI Asset Management in Manila.
Read more at Bloomberg Bonds News
Tanzania inflation drops to 7.2 pct yr/yr in March
(Reuters) - Tanzania's inflation rate dipped slightly to 7.2 percent year-on-year in March from 7.3 in February, the National Bureau of Statistics (NBS) said on Monday.
The prices of clothing, footwear, kerosene, diesel and petrol eased during the month, the NBS said. However, the prices of foodstuff like cassava, bananas, vegetables, fruit, chicken, fish and powdered milk increased during the month.
Read more at Reuters Africa
The prices of clothing, footwear, kerosene, diesel and petrol eased during the month, the NBS said. However, the prices of foodstuff like cassava, bananas, vegetables, fruit, chicken, fish and powdered milk increased during the month.
Read more at Reuters Africa
Pound Gains to Highest Since September 1992 on View BOE Will Raise Rates
(Bloomberg) -- The U.K. pound rose to its highest against the dollar since September 1999 on expectations minutes of the latest Bank of England meeting will suggest policy makers are minded to increase interest rates this year.
The pound rose for a fifth day as investors bought the currency in so-called carry trades, funded by borrowing in currencies with lower interest rates like the yen or Swiss franc. The BoE will release the minutes on March 18.
Read more at Bloomberg Currencies News
The pound rose for a fifth day as investors bought the currency in so-called carry trades, funded by borrowing in currencies with lower interest rates like the yen or Swiss franc. The BoE will release the minutes on March 18.
Read more at Bloomberg Currencies News
Copper Rises on Speculation Mine Protest May Curb Supplies; Nickel Gains
(Bloomberg) -- Copper rose in London for a second consecutive trading session on speculation that a protest at the world's second-largest mine producing the metal and disruption to deliveries from Argentina may curb supplies.
Native Papuan workers at Freeport-McMoRan Copper & Gold Inc.'s Grasberg mine in Indonesia plan a rally on April 18 over wage demands that may disrupt output. Last week, Xstrata Plc, the world's fourth-largest copper producer, said shipments from an Argentinean mine were delayed by flooding.
Read more at Bloomberg Commodities News
Native Papuan workers at Freeport-McMoRan Copper & Gold Inc.'s Grasberg mine in Indonesia plan a rally on April 18 over wage demands that may disrupt output. Last week, Xstrata Plc, the world's fourth-largest copper producer, said shipments from an Argentinean mine were delayed by flooding.
Read more at Bloomberg Commodities News
Higher European Ethylene Prices May Draw More Iranian Cargoes From Asia
(Bloomberg) -- A $300 a metric ton difference between ethylene prices in Europe and Asia may boost European imports of the oil-based chemical from Iran, said Yoshinori Hasegawa, a broker at Ginga Petroleum (Singapore) Pte.
Iran's Petrochemical Commercial Co., which sold a cargo of ethylene to Europe for loading in the last week of April, can get a higher profit from selling to Europe than to Asia. The company typically exports ethylene to Qatar, India, and Asia.
Read more at Bloomberg Energy News
Iran's Petrochemical Commercial Co., which sold a cargo of ethylene to Europe for loading in the last week of April, can get a higher profit from selling to Europe than to Asia. The company typically exports ethylene to Qatar, India, and Asia.
Read more at Bloomberg Energy News
UPDATE 1-RBS sells $2.2bln UK Marriott hotels to consortium
(Reuters) - The portfolio of four- and five-star luxury hotels, with the majority located in England and five each in Wales and Scotland, is operated by Marriott International under the Marriott Hotels & Resorts brand, with 30 year management agreements which started in 2006.
Quinlan said in a statement on Monday that it is the single largest investor in the consortium and is investing on behalf of a group including Electra, First International Bank of Israel and Delek Real Estate.
Read more at Reuters.com Mergers News
Quinlan said in a statement on Monday that it is the single largest investor in the consortium and is investing on behalf of a group including Electra, First International Bank of Israel and Delek Real Estate.
Read more at Reuters.com Mergers News
UPDATE 2-ABN gives early Q1 figures as bid talks intensify
(Reuters) - AMSTERDAM, April 16 - ABN AMRO , which has received a break-up proposal from a three-bank consortium as it nears the end of exclusive merger talks with Barclays Plc , reported double-digit earnings gains on Monday.
Shares in the Netherlands' biggest bank rose more than 5 percent to a record 35.5 euros, valuing it at 67.5 billion euros , on the increased chance of a bidding war between Britain's Barclays and the consortium of Santander , Royal Bank of Scotland and Fortis .
Read more at Reuters.com Market News
Shares in the Netherlands' biggest bank rose more than 5 percent to a record 35.5 euros, valuing it at 67.5 billion euros , on the increased chance of a bidding war between Britain's Barclays and the consortium of Santander , Royal Bank of Scotland and Fortis .
Read more at Reuters.com Market News
UPDATE 3-Dutch Philips beats Q1 profit forecast, sales slow
(Reuters) - AMSTERDAM, April 16 - Dutch Philips Electronics beat analysts' forecasts on Monday with first-quarter operating profit, but sales were below expectations due to slower TV and monitor sales as well as Latin American weakness.
Philips's earnings before interest and taxes came in at 292 million euros compared with an average forecast of 267 million euros by 15 analysts polled by Reuters. EBIT in the year-earlier period was 335 million euros.
Read more at Reuters.com Market News
Philips's earnings before interest and taxes came in at 292 million euros compared with an average forecast of 267 million euros by 15 analysts polled by Reuters. EBIT in the year-earlier period was 335 million euros.
Read more at Reuters.com Market News
French Stocks Climb, Led by BNP Paribas, Cap Gemini, STMicroelectronics
(Bloomberg) -- French stocks rose, paced by BNP Paribas SA, Cap Gemini SA and STMicroelectronics NV.
The CAC 40 Index advanced 20.04, or 0.4 percent, to 5809.38 at 9:07 a.m. in Paris. The SBF 120 Index increased 0.3 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index advanced 20.04, or 0.4 percent, to 5809.38 at 9:07 a.m. in Paris. The SBF 120 Index increased 0.3 percent.
Read more at Bloomberg Stocks News
Greenspan Says Global Growth to Cushion U.S., Downplays Risk of Recession
(Bloomberg) -- Former Federal Reserve chairman Alan Greenspan played down his earlier concern about a possible U.S. recession, saying the world economy would provide a cushion, according to people attending a forum in Tokyo today.
Greenspan said growth in the rest of the world is creating demand for services from companies such as Microsoft Corp., according to Vaseehar Hassan Abdul Razack, chairman of Kuala Lumpur-based RHB Islamic Bank Bhd, who attended the meeting, hosted by Nomura Research Institute Ltd. Greenspan was speaking via satellite from Washington.
Read more at Bloomberg Currencies News
Greenspan said growth in the rest of the world is creating demand for services from companies such as Microsoft Corp., according to Vaseehar Hassan Abdul Razack, chairman of Kuala Lumpur-based RHB Islamic Bank Bhd, who attended the meeting, hosted by Nomura Research Institute Ltd. Greenspan was speaking via satellite from Washington.
Read more at Bloomberg Currencies News
Guinea withdraws oil, bauxite deals for review
(Reuters) - Guinea, the world's No. 1 bauxite exporter, said on Sunday it was withdrawing agreements made with a U.S. oil company and a Russian-managed bauxite producer as part of a planned review of minerals contracts.
The withdrawals were announced in a government statement read on state television. They referred to a production-sharing contract with American oil company Hyperdynamics and an annexe of an accord with Compagnie de Bauxite de Kindia (CBK), a local bauxite company run by Russian aluminium giant RUSAL.
Read more at Reuters Africa
The withdrawals were announced in a government statement read on state television. They referred to a production-sharing contract with American oil company Hyperdynamics and an annexe of an accord with Compagnie de Bauxite de Kindia (CBK), a local bauxite company run by Russian aluminium giant RUSAL.
Read more at Reuters Africa
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