(Reuters) - LONDON, April 18 - EMI Group Plc , which issued two profit warnings earlier this year, said on Wednesday it expected full-year EMI Music revenues to be down 15 percent and has suspended its dividend payments.
EMI, the world's third-largest record company, said the revenue figure was in line with its outlook given in February.
Read more at Reuters.com Bonds News
Tuesday, April 17, 2007
Dow ends short of record on profits; IBM off late
(Reuters) - The Dow industrials ended just short of a record high on Tuesday, helped by better-than-expected profits at companies such as Johnson & Johnson and data showing tamer inflation.
Shares of health-care company Johnson & Johnson and Coca-Cola Co., which also beat Wall Street forecasts, led advances in the Dow and the S&P 500.
Read more at Reuters Africa
Shares of health-care company Johnson & Johnson and Coca-Cola Co., which also beat Wall Street forecasts, led advances in the Dow and the S&P 500.
Read more at Reuters Africa
Oil rises on forecast of lower US gasoline stocks
(Reuters) - Oil edged up on Wednesday ahead of U.S. government data expected to show gasoline inventories in the world's top consumer kept thinning in the run-up to peak summer demand.
London Brent June crude rose 17 cents to $66.10 a barrel by 0335 GMT, after sliding $1.32 on Tuesday. U.S. May crude futures gained 6 cents to $63.16, after a 51-cent loss on Tuesday.
Read more at Reuters Africa
London Brent June crude rose 17 cents to $66.10 a barrel by 0335 GMT, after sliding $1.32 on Tuesday. U.S. May crude futures gained 6 cents to $63.16, after a 51-cent loss on Tuesday.
Read more at Reuters Africa
Dom, Polish Homebuilder Stocks May Fall Amid Surge in Brick, Cement Prices
(Bloomberg) -- Homebuilder shares are up more than any other industry in Poland's stock market the past year. Also on the upswing: costs for bricks and carpenters.
Industry profits will be hurt by rising costs for materials and wages, said Tomasz Adamus of Credit Suisse Asset Management Polska SA. Prices of the most popular type of brick tripled in the past 12 months, and labor costs are climbing as emigration shrinks the workforce.
Read more at Bloomberg Stocks News
Industry profits will be hurt by rising costs for materials and wages, said Tomasz Adamus of Credit Suisse Asset Management Polska SA. Prices of the most popular type of brick tripled in the past 12 months, and labor costs are climbing as emigration shrinks the workforce.
Read more at Bloomberg Stocks News
European Government Bonds May Decline on View ECB Will Keep Lifting Rates
(Bloomberg) -- European government bonds may drop as economic indicators continue to reinforce expectations that interest rates will increase in the euro region economy.
Benchmark debt fell for a fourth week after the European Central Bank stoked speculation it will lift borrowing costs by half a percentage point this year to as much as 4.25 percent. The ZEW Center for European Economic Research said yesterday its gauge of investor expectations in Germany surged to a 10-month high in April.
Read more at Bloomberg Bonds News
Benchmark debt fell for a fourth week after the European Central Bank stoked speculation it will lift borrowing costs by half a percentage point this year to as much as 4.25 percent. The ZEW Center for European Economic Research said yesterday its gauge of investor expectations in Germany surged to a 10-month high in April.
Read more at Bloomberg Bonds News
China shares mixed, index down on weak blue chips
(Reuters) - Turnover in Shanghai A shares was very heavy at 86.2 billion yuan , though down marginally from 87.3 billion yuan in the morning on Tuesday, when full-day turnover hit a record.
Analysts believe the market is vulnerable to a pull-back after sharp gains this month. One trigger could conceivably be this Thursday's macroeconomic data.
Read more at Reuters.com Hot Stocks News
Analysts believe the market is vulnerable to a pull-back after sharp gains this month. One trigger could conceivably be this Thursday's macroeconomic data.
Read more at Reuters.com Hot Stocks News
Infineon, Lufthansa, Repower, RWE, Villeroy & Boch: German Equity Preview
(Bloomberg) -- The following stocks may rise or fall in German markets.
Germany's X-DAX Index fell 0.2 percent to 7342.25. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX rose 0.2 percent to 7348.83 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Germany's X-DAX Index fell 0.2 percent to 7342.25. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX rose 0.2 percent to 7348.83 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Canadian Dollar Advances to Highest in Four Months on Merger Speculation
(Bloomberg) -- Canada's dollar rose to the highest in more than four months amid speculation international takeover agreements will fuel demand for the currency.
The currency has gained 2 percent this month against the U.S. dollar on economic strength and higher prices of commodities, accounting for 54 percent of exports. The price of copper rose on concern a labor dispute may reduce supply.
Read more at Bloomberg Currencies News
The currency has gained 2 percent this month against the U.S. dollar on economic strength and higher prices of commodities, accounting for 54 percent of exports. The price of copper rose on concern a labor dispute may reduce supply.
Read more at Bloomberg Currencies News
Crude Oil Price Is Little Changed Amid Refinery Repairs, Pipeline Closure
(Bloomberg) -- Crude oil was little changed in New York amid speculation that the repair of a Texas refinery and the closure a pipeline connecting Canada will increase demand for the benchmark U.S. oil grade.
Valero Energy Corp. said yesterday it's beginning to resume output at the McKee refinery near Sunray, Texas. Inventories of West Texas Intermediate oil have surged at Cushing, Oklahoma, because of the closure of the McKee refinery. Prices also rose because Enbridge Inc. shut part of a pipeline that ships oil to the U.S. from Canada on April 15.
Read more at Bloomberg Energy News
Valero Energy Corp. said yesterday it's beginning to resume output at the McKee refinery near Sunray, Texas. Inventories of West Texas Intermediate oil have surged at Cushing, Oklahoma, because of the closure of the McKee refinery. Prices also rose because Enbridge Inc. shut part of a pipeline that ships oil to the U.S. from Canada on April 15.
Read more at Bloomberg Energy News
SF Fed sees Q1 GDP under 2 pct, soft landing ahead
(Reuters) - In the second half of 2007 and into 2008 real gross domestic product is likely to grow at about a 2.5 percent annual rate, slightly below the bank's estimate of trend growth, Williams said.
Still, the economist said a surprising slowdown in business investment could hint at a more widespread deterioration in the perceived profitability of capital investment.
Read more at Reuters.com Bonds News
Still, the economist said a surprising slowdown in business investment could hint at a more widespread deterioration in the perceived profitability of capital investment.
Read more at Reuters.com Bonds News
Telus, Rogers shares rise amid BCE takeover buzz
(Reuters) - "If BCE gets taken out in private equity, what's to stop somebody from going after Telus?" said MacDougall, MacDougall & MacTier analyst Troy Crandall.
Telus shares rose C$2.44, or 4 percent, to C$65.09 on the Toronto Stock Exchange.
Read more at Reuters.com Mergers News
Telus shares rose C$2.44, or 4 percent, to C$65.09 on the Toronto Stock Exchange.
Read more at Reuters.com Mergers News
J&J handily beats forecast
(Reuters) - Excluding special items, J&J said it earned $1.16 per share in the first quarter. Analysts on average expected $1.04 per share, according to Reuters Estimates.
"Pharmaceuticals led the way," said Bank of America analyst Glenn Novarro, citing sizzling demand for epilepsy drug Topamax and the company's schizophrenia medicines.
Read more at Reuters.com Hot Stocks News
"Pharmaceuticals led the way," said Bank of America analyst Glenn Novarro, citing sizzling demand for epilepsy drug Topamax and the company's schizophrenia medicines.
Read more at Reuters.com Hot Stocks News
S&P raises Rogers Communications to investment grade
(Reuters) - Rogers also has the necessary scale to absorb a meaningful acquisition while staying within S&P's debt leverage targets, the rating agency said.
S&Ps raised Rogers' rating by one notch to "BBB-minus," the lowest investment grade, from "BB-plus."
Read more at Reuters.com Bonds News
S&Ps raised Rogers' rating by one notch to "BBB-minus," the lowest investment grade, from "BB-plus."
Read more at Reuters.com Bonds News
UPDATE 2-American Greetings posts loss, shares rise
(Reuters) - But the company issued a 2008 outlook that exceeded Wall Street expectations. Shares rose 4.6 percent in early trading.
The net loss for the quarter ended Feb. 28 totaled $12.2 million, or 22 cents a share, compared with a profit of $41.8 million, or 58 cents during the year-earlier quarter.
Read more at Reuters.com Market News
The net loss for the quarter ended Feb. 28 totaled $12.2 million, or 22 cents a share, compared with a profit of $41.8 million, or 58 cents during the year-earlier quarter.
Read more at Reuters.com Market News
Canadian Dollar at 4-Month High on Rising Commodity Prices, Acquisitions
(Bloomberg) -- Canada's dollar rose to the highest in more than four months as the prices of nation's main commodity exports increased.
The Canadian currency has gained 2 percent this month against the U.S. dollar on evidence of economic strength and amid increasing prices for commodities, accounting for 54 percent of exports.
Read more at Bloomberg Currencies News
The Canadian currency has gained 2 percent this month against the U.S. dollar on evidence of economic strength and amid increasing prices for commodities, accounting for 54 percent of exports.
Read more at Bloomberg Currencies News
Gold Falls From 11-Month High on Speculation Rally Overdone; Silver Drops
(Bloomberg) -- Gold in New York fell from an 11- month high on speculation a six-week rally was overdone. Silver declined.
Before today, gold had gained 7.8 percent since March 2 and yesterday closed at $694.50, the highest since May 12. The seven-day relative strength index reached 70 yesterday, a signal to traders that prices are poised to fall.
Read more at Bloomberg Commodities News
Before today, gold had gained 7.8 percent since March 2 and yesterday closed at $694.50, the highest since May 12. The seven-day relative strength index reached 70 yesterday, a signal to traders that prices are poised to fall.
Read more at Bloomberg Commodities News
US STOCKS-Wall St seen opening higher on CPI, earnings
(Reuters) - NEW YORK, April 17 - U.S. stock futures rose on Tuesday, pointing to a higher market open, after data showed an inflation measure rose less than expected in March, while consumer bellwether Coca-Cola Co. reported strong earnings.
Shares of Coca-Cola and health-care company Johnson & Johnson , also a Dow component, rose before the opening bell after they reported profits that beat Wall Street estimates.
Read more at Reuters.com Bonds News
Shares of Coca-Cola and health-care company Johnson & Johnson , also a Dow component, rose before the opening bell after they reported profits that beat Wall Street estimates.
Read more at Reuters.com Bonds News
Fed's Plosser says inflation uncomfortably high
(Reuters) - "Inflation is uncomfortably high from my perspective and not declining as rapidly as I'd like to see it," he told a meeting of business executives hosted by Rutgers School of Business.
He added: "It's very important that the Fed maintains its vigilance about inflation, that we not let inflation expectations get out of hand," he said. In addition, he said: "If you want to bring inflation down further, you have to be careful about how to do that."
Read more at Reuters.com Bonds News
He added: "It's very important that the Fed maintains its vigilance about inflation, that we not let inflation expectations get out of hand," he said. In addition, he said: "If you want to bring inflation down further, you have to be careful about how to do that."
Read more at Reuters.com Bonds News
Fed's Plosser says March CPI is 'better news'
(Reuters) - "The important question is whether it will continue."
The consumer price index excluding volatile food and energy rose 0.1 percent in March from a month earlier, below market expectations and less than gains of 0.2 percent in February and 0.3 percent in January.
Read more at Reuters.com Bonds News
The consumer price index excluding volatile food and energy rose 0.1 percent in March from a month earlier, below market expectations and less than gains of 0.2 percent in February and 0.3 percent in January.
Read more at Reuters.com Bonds News
REFILE-Landsbanki front runner for UK's Bridgewell - FT
(Reuters) - Bridgewell Chief Executive Jim Renwick and Darren Ellis, its chief operations officer, flew to Iceland on Monday to meet with their potential suitors, the newspaper said, citing an unnamed source familiar with proceedings.
A comment was not immediately available from Bridgewell.
Read more at Reuters.com Mergers News
A comment was not immediately available from Bridgewell.
Read more at Reuters.com Mergers News
UPDATE 1-Marshall & Ilsley 1st-quarter profit rises 25 pct
(Reuters) - Net income for the Milwaukee-based company increased to $216.8 million, or 83 cents per share, from $186.8 million, or 72 cents a share, a year earlier.
Core operating income rose 17 percent to $218.1 million, or 83 cents a share, matching the average forecast of analysts as compiled by Reuters Estimates.
Read more at Reuters.com Market News
Core operating income rose 17 percent to $218.1 million, or 83 cents a share, matching the average forecast of analysts as compiled by Reuters Estimates.
Read more at Reuters.com Market News
Oil Rises as Report May Show a Further Drop in U.S. Gasoline Inventories
(Bloomberg) -- Crude oil rose in New York on speculation that an Energy Department report tomorrow will show that U.S. gasoline supplies fell for a 10th week.
Gasoline stockpiles likely declined 1.63 million barrels in the week ended April 13, according to the median of forecasts by 10 analysts surveyed by Bloomberg News. U.S. refiners increase operating rates at this time of year as they prepare for peak demand during the summer months.
Read more at Bloomberg Energy News
Gasoline stockpiles likely declined 1.63 million barrels in the week ended April 13, according to the median of forecasts by 10 analysts surveyed by Bloomberg News. U.S. refiners increase operating rates at this time of year as they prepare for peak demand during the summer months.
Read more at Bloomberg Energy News
European Stocks Rebound as Inflation Concerns Ease; Tesco, Remy Advance
(Bloomberg) -- European stocks rebounded after a measure of prices paid by U.S. consumers rose less than forecast last month, giving the Federal Reserve more leeway to cut interest rates to spur the economy.
Vodafone Group Plc and DaimlerChrysler AG paced gains by companies sensitive to growth in Europe's largest trading partner. Tesco Plc rose after the U.K.'s biggest retailer reported a gain in profit.
Read more at Bloomberg Stocks News
Vodafone Group Plc and DaimlerChrysler AG paced gains by companies sensitive to growth in Europe's largest trading partner. Tesco Plc rose after the U.K.'s biggest retailer reported a gain in profit.
Read more at Bloomberg Stocks News
U.S. industrial output fell 0.2 percent in March
(Reuters) - Analysts had expected a modest industrial production gain of 0.1 percent after February output expanded by a downwardly adjusted 0.8 percent.
The capacity use rate of factories, mines and utilities eased to 81.4 percent, from a downwardly revised 81.6 percent in February, a figure previously estimated at 82.0 percent.
Read more at Reuters.com Economic News
The capacity use rate of factories, mines and utilities eased to 81.4 percent, from a downwardly revised 81.6 percent in February, a figure previously estimated at 82.0 percent.
Read more at Reuters.com Economic News
BCE in buyout talks with Canada-led group
(Reuters) - U.S. private equity firm Kohlberg Kravis Roberts and Co. has also signed the agreement and will join the consortium as a minority partner.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Turkey Outlines Seven-Year Plan to Advance European Union Membership Bid
(Bloomberg) -- Turkey plans to pass new laws in the fields of business competition, food safety, energy and human rights to further its European Union membership bid, which has been partially stalled by the nation's trade curbs on Cyprus.
The government will approve about 200 measures by 2013, Economy Minister Ali Babacan said today at a news conference in the capital Ankara.
Read more at Bloomberg Emerging Markets News
The government will approve about 200 measures by 2013, Economy Minister Ali Babacan said today at a news conference in the capital Ankara.
Read more at Bloomberg Emerging Markets News
UPDATE 1-Antwerp loses out on new GM Astra work
(Reuters) - The Astra is GM's best-selling car in Europe with nearly half a million units sold last year, so GM plants across the region were keen to get the assembly work.
GM Europe President Carl-Peter Forster made the announcement in Brussels after negotiations with labour representatives.
Read more at Reuters.com Bonds News
GM Europe President Carl-Peter Forster made the announcement in Brussels after negotiations with labour representatives.
Read more at Reuters.com Bonds News
TREASURIES-Prices rise on benign core CPI reading
(Reuters) - The benchmark 10-year note was 6/32 higher in price for a yield of 4.71 percent, versus 4.75 percent before the data and 4.74 late on Monday, while the two-year note _was up 2/32 in price for a yield of 4.72 percent from 4.75 percent late on Monday.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
March consumer prices up 0.6 pct
(Reuters) - The Consumer Price Index climbed at a 0.6 percent rate, up from 0.4 percent in February. It was the largest monthly increase since a matching 0.6 percent rise last April.
A 10.6 percent jump in gasoline prices last month eclipsed a 0.3 percent gain in February and was the largest increase in 1-1/2 years since a 17.4 percent gain in September 2005.
Read more at Reuters.com Economic News
A 10.6 percent jump in gasoline prices last month eclipsed a 0.3 percent gain in February and was the largest increase in 1-1/2 years since a 17.4 percent gain in September 2005.
Read more at Reuters.com Economic News
Clearwire, EMC, Universal Forest Products, Vonage: 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 yesterday. Stock symbols are in parentheses after company names. Share prices are as of 7:35 a.m. in New York.
Black & Decker Corp. (BDK): The biggest U.S. maker of power tools, said first-quarter profit exceeded its forecast on an increase in orders. Shares rose 54 cents to $83.72 in regular trading yesterday.
Read more at Bloomberg Stocks News
Black & Decker Corp. (BDK): The biggest U.S. maker of power tools, said first-quarter profit exceeded its forecast on an increase in orders. Shares rose 54 cents to $83.72 in regular trading yesterday.
Read more at Bloomberg Stocks News
RPT-Affordable Residential to sell unit to Farallon
(Reuters) - Affordable Residential said last week it was in talks to sell nearly all of its assets to Farallon. The home parks company said it would retain ownership of the recently acquired NLASCO insurance operations, and it would seek to make acquisitions with the proceeds from manufactured home deal.
The deal marks the latest real estate transaction for Farallon. The company has a stake in Accredited Home Lenders Holding Co., and recently joined with Simon Property Group to buy mall owner Mills Corp.
Read more at Reuters.com Mergers News
The deal marks the latest real estate transaction for Farallon. The company has a stake in Accredited Home Lenders Holding Co., and recently joined with Simon Property Group to buy mall owner Mills Corp.
Read more at Reuters.com Mergers News
US STOCKS-Futures slip before CPI, Coca-Cola up
(Reuters) - NEW YORK, April 17 - U.S. stock futures fell on Tuesday as caution before consumer price data tempered reports of stronger-than-expected earnings from companies, including Coca-Cola Co.
Shares of Coca-Cola, a Dow component, rose 1.5 percent before the bell after the world's largest beverage company reported a quarterly profit that beat Wall Street estimates. For details see [ID:nN17379123]
Read more at Reuters.com Bonds News
Shares of Coca-Cola, a Dow component, rose 1.5 percent before the bell after the world's largest beverage company reported a quarterly profit that beat Wall Street estimates. For details see [ID:nN17379123]
Read more at Reuters.com Bonds News
TD Ameritrade quarterly earnings falls
(Reuters) - The company, formed last year when Ameritrade Holding bought TD Waterhouse USA from Toronto-Dominion Bank , said net income for the quarter ended March 31 fell to $141.1 million, or 23 cents a share, from $172.8 million, or 30 cents a share.
) Keywords: TDAMERITRADE RESULTS
Read more at Reuters.com Market News
) Keywords: TDAMERITRADE RESULTS
Read more at Reuters.com Market News
Affordable Residential to sell unit to Farallon
(Reuters) - The deal marks the latest real estate transaction for Farallon. The company has a stake in Accredited Home Lenders Holding Co., and recently joined with Simon Property Group to buy mall owner Mills Corp.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Crude Oil Climbs on Speculation Gasoline Consumption to Increase in U.S
(Bloomberg) -- Crude oil climbed in New York on speculation demand for fuel was increasing before the summer driving season.
U.S. gasoline supplies probably fell the least in 10 weeks as refining reached a 14-week high, according to a Bloomberg News survey before a weekly government report tomorrow. Crude also rose after Canada's Enbridge Inc. shut down part of its pipeline pumping oil to the U.S. Midwest yesterday following a leak.
Read more at Bloomberg Commodities News
U.S. gasoline supplies probably fell the least in 10 weeks as refining reached a 14-week high, according to a Bloomberg News survey before a weekly government report tomorrow. Crude also rose after Canada's Enbridge Inc. shut down part of its pipeline pumping oil to the U.S. Midwest yesterday following a leak.
Read more at Bloomberg Commodities News
Jean Coutu reports higher third-quarter profit
(Reuters) - TORONTO, April 17 - Jean Coutu Group reported a higher third-quarter profit on Tuesday, as the pharmacy chain benefited from a reversed $108 million impairment loss on its US assets.
Coutu, which agreed last year to sell its U.S. Brooks and Eckerd chains to Rite Aid Corp. for about $2.6 billion in cash and shares, earned $184 million, or 70 cents a share, up from a profit of $31.6 million, or 12 cents a share, in the same period a year earlier.
Read more at Reuters.com Market News
Coutu, which agreed last year to sell its U.S. Brooks and Eckerd chains to Rite Aid Corp. for about $2.6 billion in cash and shares, earned $184 million, or 70 cents a share, up from a profit of $31.6 million, or 12 cents a share, in the same period a year earlier.
Read more at Reuters.com Market News
NeurogesX sets IPO at 4 mln shares, $13-$15 each
(Reuters) - NeurogesX intends to list its stock on the Nasdaq under the symbol "NGSX."
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-China regulator approves Chalco's Shanghai offer
(Reuters) - SHANGHAI, April 17 - China's stock regulator said on Tuesday it had approved an application by Aluminum Corp. of China for a share offer in Shanghai to buy out two units in a deal worth more than $1 billion.
Chalco , the world's fourth-biggest producer of aluminium, will issue 1.237 billion Shanghai A shares at a price of 6.60 yuan each, valuing the deal at 8.16 billion yuan , although no proceeds will be raised in the buy-out deal.
Read more at Reuters.com Government Filings News
Chalco , the world's fourth-biggest producer of aluminium, will issue 1.237 billion Shanghai A shares at a price of 6.60 yuan each, valuing the deal at 8.16 billion yuan , although no proceeds will be raised in the buy-out deal.
Read more at Reuters.com Government Filings News
U.S. Stock-Index Futures Decline; IBM, Yahoo, J&J Shares Retreat inEurope
(Bloomberg) -- U.S. stock-index futures dropped before a report that will probably show consumer prices rose the most in almost a year, fueling concern the Federal Reserve may need to raise interest rates.
International Business Machines Corp., the world's largest computer-services company, and Yahoo! Inc., the owner of the most-visited U.S. Web site, declined before reporting first- quarter earnings.
Read more at Bloomberg Stocks News
International Business Machines Corp., the world's largest computer-services company, and Yahoo! Inc., the owner of the most-visited U.S. Web site, declined before reporting first- quarter earnings.
Read more at Bloomberg Stocks News
UPDATE 2-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.
Read more at Reuters.com Mergers News
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.
Read more at Reuters.com Mergers News
UPDATE 1-ABN set to extend talks with Barclays -sources
(Reuters) - Barclays entered talks with ABN on March 19, with the initial period of exclusivity due to last 30 days, expiring on Wednesday.
That appears likely to slip, possibly into next week, due to interest from a consortium of other possible bidders, the sources said. A holding statement may to be released on Tuesday or Wednesday confirming the extension of talks.
Read more at Reuters.com Mergers News
That appears likely to slip, possibly into next week, due to interest from a consortium of other possible bidders, the sources said. A holding statement may to be released on Tuesday or Wednesday confirming the extension of talks.
Read more at Reuters.com Mergers News
Shanghai Copper Declines Ahead of Freeport Mine Talks, Zinc Increases
(Bloomberg) -- Copper prices in Shanghai, which earlier rose near a seven-month high on concern that supplies may lag behind demand, fell ahead of talks today that may avert a workers' protest at the world's second-largest mine.
Copper stockpiles monitored by London, New York and Shanghai exchanges are near the lowest since Jan. 30. Prices of copper on the benchmark London Metal Exchange have rebounded 47 percent since early February to just below $8,000 a metric ton, referred to as a resistance level, where sell orders cluster.
Read more at Bloomberg Commodities News
Copper stockpiles monitored by London, New York and Shanghai exchanges are near the lowest since Jan. 30. Prices of copper on the benchmark London Metal Exchange have rebounded 47 percent since early February to just below $8,000 a metric ton, referred to as a resistance level, where sell orders cluster.
Read more at Bloomberg Commodities News
British Pound Jumps to $2 for First Time Since 1992 as Inflation Quickens
(Bloomberg) -- The pound rallied to $2 for the first time since September 1992 as traders wagered the Bank of England will keep raising interest rates to cool inflation fed by house prices, wage demands and consumer spending.
The U.K. pound reached the highest since September 1992, when billionaire investor George Soros and other speculators drove the currency out of the European system of linked exchange rates. Britain's economy, Europe's second-biggest, has shown few signs of cooling after three rate increases since early August. Another quarter-point move would take borrowing costs to 5.5 percent, the highest among the Group of Seven major economies.
Read more at Bloomberg Currencies News
The U.K. pound reached the highest since September 1992, when billionaire investor George Soros and other speculators drove the currency out of the European system of linked exchange rates. Britain's economy, Europe's second-biggest, has shown few signs of cooling after three rate increases since early August. Another quarter-point move would take borrowing costs to 5.5 percent, the highest among the Group of Seven major economies.
Read more at Bloomberg Currencies News
Russia's Industrial Production Expanded an Annual 7.9 Percent Last Month
(Bloomberg) -- Russian industrial production expanded an annual 7.9 percent in March, led by electronics, tractor trailers and gas turbines production.
Output slowed from the 8.7 percent pace of the previous month, the fastest in nine months, the Moscow-based Federal Statistics Service said in an e-mailed statement today. The median forecast of 16 economists surveyed by Bloomberg was for a 6.1 percent rate.
Read more at Bloomberg Emerging Markets News
Output slowed from the 8.7 percent pace of the previous month, the fastest in nine months, the Moscow-based Federal Statistics Service said in an e-mailed statement today. The median forecast of 16 economists surveyed by Bloomberg was for a 6.1 percent rate.
Read more at Bloomberg Emerging Markets News
Gates Foundation billions change pharma landscape
(Reuters) - Pharmaceutical information group IMS Health Inc. said the emergence of megabuck philanthropy was both a threat and a collaboration opportunity for manufacturers.
"Pharma companies need to develop an explicit strategy to deal with this phenomenon," IMS said in its annual Intelligence.360 report on factors shaping the industry.
Read more at Reuters.com Business News
"Pharma companies need to develop an explicit strategy to deal with this phenomenon," IMS said in its annual Intelligence.360 report on factors shaping the industry.
Read more at Reuters.com Business News
UPDATE 1-Altimo says Cukurova breaches contract
(Reuters) - Altimo also demanded the Turkish firm immediately pay an outstanding $1.35 billion in debts, it said in a statement.
Under their deal, Altimo had lent Cukurova $1.7 billion and took a 13.22 percent stake in the Turkish telecom giant.
Read more at Reuters.com Mergers News
Under their deal, Altimo had lent Cukurova $1.7 billion and took a 13.22 percent stake in the Turkish telecom giant.
Read more at Reuters.com Mergers News
GM seeks to source more auto parts from India: CEO
(Reuters) - Wagoner is in India to launch the mini Chevrolet Spark and visit GM's engineering centre in Bangalore. He is also expected to meet the Indian prime minister.
GM, which aims to have 10 percent of the fast-growing Indian market by 2010, makes the Corsa, the Chevrolet Optra and Aveo sedans and the Tavera multi-utility vehicle at a plant in Gujarat state, which has a capacity of 85,000 units.
Read more at Reuters.com Business News
GM, which aims to have 10 percent of the fast-growing Indian market by 2010, makes the Corsa, the Chevrolet Optra and Aveo sedans and the Tavera multi-utility vehicle at a plant in Gujarat state, which has a capacity of 85,000 units.
Read more at Reuters.com Business News
Biofuel Shares Downgraded to `Cautious' by Goldman Sachs on Corn Prices
(Bloomberg) -- Shares of biofuel companies were lowered to ``cautious'' from ``neutral'' at Goldman, Sachs & Co. on concern share prices overstate earnings prospects and the companies will be hurt by higher corn costs.
``We are sellers of the rally,'' New York-based analysts including Arjun Murti wrote in a report dated April 16. All three ethanol companies covered are trading above Goldman's price estimates.
Read more at Bloomberg Stocks News
``We are sellers of the rally,'' New York-based analysts including Arjun Murti wrote in a report dated April 16. All three ethanol companies covered are trading above Goldman's price estimates.
Read more at Bloomberg Stocks News
Portugal, Mediobanco, Henderson Plan to Sell Debt: European Bond Alert
(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.
Investment-Grade Sales
Read more at Bloomberg Bonds News
Investment-Grade Sales
Read more at Bloomberg Bonds News
Experian sales climb, confident on future
(Reuters) - LONDON, April 17 - Credit-information firm Experian posted a 12 percent rise in second-half sales on Tuesday and said it was confident about the future, though it continued to face challenging conditions in some of its markets.
Experian, spun out of conglomerate GUS in October, said organic sales growth in the six months to March 31 2007 came in at 8 percent, broadly in line with 7 percent in the first half, excluding businesses sold, closed or identified for closure.
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Experian, spun out of conglomerate GUS in October, said organic sales growth in the six months to March 31 2007 came in at 8 percent, broadly in line with 7 percent in the first half, excluding businesses sold, closed or identified for closure.
Read more at Reuters.com Bonds News
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