(Reuters) - It expects to refile the merger notification to the European Commission in the coming weeks, the company said.
Read more at Reuters.com Mergers News
Sunday, April 22, 2007
UPDATE 1-Barclays agrees to buy ABN, to sell LaSalle
(Reuters) - AMSTERDAM/LONDON, April 23 - British bank Barclays has agreed to buy Dutch rival ABN AMRO in a deal worth just over 67 billion euros , the biggest bank takeover to date, the two banks said on Monday.
The banks said they had agreed to sell ABN's Chicago-based U.S. bank LaSalle to Bank of America for $21 billion. That deal is conditional on Barclays' purchase of ABN, which is expected to complete in the fourth quarter.
Read more at Reuters.com Mergers News
The banks said they had agreed to sell ABN's Chicago-based U.S. bank LaSalle to Bank of America for $21 billion. That deal is conditional on Barclays' purchase of ABN, which is expected to complete in the fourth quarter.
Read more at Reuters.com Mergers News
Asian Shares Gain as Earnings Damp Economic Concern; JFE, Exporters Climb
(Bloomberg) -- Asian stocks rose for the second day, led by exporters, after earnings reports damped concern the global economy is headed for a slowdown.
JFE Holdings Inc. and Nippon Steel Corp., Japan's two largest steelmakers, climbed after the Nikkei newspaper said their pretax profits may increase to records. Higher earnings also lifted shares of Harbin Power Equipment Co., the nation's biggest maker of electricity-generation equipment.
Read more at Bloomberg Stocks News
JFE Holdings Inc. and Nippon Steel Corp., Japan's two largest steelmakers, climbed after the Nikkei newspaper said their pretax profits may increase to records. Higher earnings also lifted shares of Harbin Power Equipment Co., the nation's biggest maker of electricity-generation equipment.
Read more at Bloomberg Stocks News
Australian Stocks Fall, Led by St George, Commonwealth Bank; Lihir Plunges
(Bloomberg) -- Australian stocks declined, led by St George Bank Ltd. and Commonwealth Bank of Australia, on concern last week's gain outstripped their earnings potential.
Lihir Gold Ltd. declined after it sold A$972 million ($813 million) shares at a discount.
Read more at Bloomberg Stocks News
Lihir Gold Ltd. declined after it sold A$972 million ($813 million) shares at a discount.
Read more at Bloomberg Stocks News
In Case You Missed It: Charts Show the 22-Year Treasury Bond Rally Is Over
(Bloomberg) -- The biggest bull market in U.S. Treasury bonds is over, according to the analysts who rely on historical price patterns to make their assumptions.
The proof that it now pays to be bearish can be found in financial futures based on the government's 4 3/4 percent bond maturing in 2037, a benchmark for the almost 23-year rally that began in May 1984 and ended on April 6, says John Kosar, president of Asbury Research in Lake in the Hills, Illinois. That's when the price of 30-year Treasury bonds for delivery on the Chicago Board of Trade fell below 110 20/32 and signaled a new direction for the market, he said.
Read more at Bloomberg Bonds News
The proof that it now pays to be bearish can be found in financial futures based on the government's 4 3/4 percent bond maturing in 2037, a benchmark for the almost 23-year rally that began in May 1984 and ended on April 6, says John Kosar, president of Asbury Research in Lake in the Hills, Illinois. That's when the price of 30-year Treasury bonds for delivery on the Chicago Board of Trade fell below 110 20/32 and signaled a new direction for the market, he said.
Read more at Bloomberg Bonds News
Eurotunnel, Ozarow Business Centre, South Korean Corporates: Bankruptcy
(Bloomberg) -- A Eurotunnel Plc shareholder group in the U.K. may go to court to try to prevent the Channel tunnel operator from canceling travel perks granted at the company's flotation in 1987.
The Eurotunnel Foundation Shareholders' Action Group said it is ``committed to following any necessary legal action'' to preserve unlimited free-travel rights given to 4,000 of the first shareholders. The group made the statement in a letter published April 20 in the London-based Times newspaper.
Read more at Bloomberg Bonds News
The Eurotunnel Foundation Shareholders' Action Group said it is ``committed to following any necessary legal action'' to preserve unlimited free-travel rights given to 4,000 of the first shareholders. The group made the statement in a letter published April 20 in the London-based Times newspaper.
Read more at Bloomberg Bonds News
U.S. Companies Plan to Slow Hiring, Capital Spending as Pessimism Grows
(Bloomberg) -- U.S. companies plan to slow hiring in the next six months and limit capital spending as they grow more pessimistic about economic growth, a survey by the National Association for Business Economics found.
Fewer firms plan to increase staff compared with the prior survey while more expect to reduce payrolls, leading to the lowest net employment reading in at least two years, the NABE reported today. Thirty-seven percent of executives in the April survey said they plan to boost capital spending in the next 12 months, down from 43 percent in the January survey.
Read more at Bloomberg Bonds News
Fewer firms plan to increase staff compared with the prior survey while more expect to reduce payrolls, leading to the lowest net employment reading in at least two years, the NABE reported today. Thirty-seven percent of executives in the April survey said they plan to boost capital spending in the next 12 months, down from 43 percent in the January survey.
Read more at Bloomberg Bonds News
DAB Bank, Deutsche Post, Deutsche Telekom, Siemens: German Equity Preview
(Bloomberg) -- The following stocks may rise or fall in German markets today.
Germany's DAX index rose 1.4 percent to 7342.54 on the Xetra electronic-trading system on April 20.
Read more at Bloomberg Stocks News
Germany's DAX index rose 1.4 percent to 7342.54 on the Xetra electronic-trading system on April 20.
Read more at Bloomberg Stocks News
Platinum Rises to 5-Month High on New Funds; Palladium is Little Changed
(Bloomberg) -- Platinum rose to a five-month high in Asian trading amid continued speculation the introduction of new exchange-traded funds will boost demand. Platinum futures in Tokyo climbed to a record. Palladium was little changed.
Prices for platinum and palladium rose last week following the announcement of new ETFs. Platinum, which rose 4.5 percent last week, had its biggest one-day gain in almost five months on April 20 when it rose 2.4 percent at close. Palladium gained 2.1 percent last week.
Read more at Bloomberg Commodities News
Prices for platinum and palladium rose last week following the announcement of new ETFs. Platinum, which rose 4.5 percent last week, had its biggest one-day gain in almost five months on April 20 when it rose 2.4 percent at close. Palladium gained 2.1 percent last week.
Read more at Bloomberg Commodities News
Pakistan's Habib Bank Plans IPO, GDR Sale to Fund Asian, African Expansion
(Bloomberg) -- Habib Bank Ltd., Pakistan's largest by branches, plans to sell shares locally and overseas this year to help grow its network in China, Central Asia and East Africa.
The Pakistan government will sell at least 10 percent in the bank through an initial public offering within the next three months and list global depositary receipts in Hong Kong or London by December, Habib Bank President Zakir Mahmood said in an April 20 interview in Karachi.
Read more at Bloomberg Emerging Markets News
The Pakistan government will sell at least 10 percent in the bank through an initial public offering within the next three months and list global depositary receipts in Hong Kong or London by December, Habib Bank President Zakir Mahmood said in an April 20 interview in Karachi.
Read more at Bloomberg Emerging Markets News
Australian Dollar Drops, Bonds Advance as Producer Price Index Unchanged
(Bloomberg) -- The Australian dollar fell from near a 17-year high after a government report said producer prices were unchanged in the first quarter. Government bonds rose.
The local dollar declined against all 16 most-traded currencies today as traders trimmed bets the Reserve Bank of Australia will increase the interest rate from a six-year high 6.25 percent. The zero increase in the producer price index compares to economists' estimate for a 0.6 percent quarterly gain.
Read more at Bloomberg Currencies News
The local dollar declined against all 16 most-traded currencies today as traders trimmed bets the Reserve Bank of Australia will increase the interest rate from a six-year high 6.25 percent. The zero increase in the producer price index compares to economists' estimate for a 0.6 percent quarterly gain.
Read more at Bloomberg Currencies News
Australia's S&P/ASX 200 Climbs, Set for Record, Led by BHP, Rio,Westfield
(Bloomberg) -- Australian stocks rose, led by BHP Billiton Ltd. and Rio Tinto Group, as prices for metals, such as copper, zinc and gold, increased.
Westfield Group and CSL Ltd. also gained after U.S. stocks surged to a record as profit reports from companies including Caterpillar Inc. raised confidence global economic growth will be sustained.
Read more at Bloomberg Stocks News
Westfield Group and CSL Ltd. also gained after U.S. stocks surged to a record as profit reports from companies including Caterpillar Inc. raised confidence global economic growth will be sustained.
Read more at Bloomberg Stocks News
Barclays deal for ABN-AMRO looms, BoA to buy LaSalle
(Reuters) - Analysts have said LaSalle could be worth between $18 billion and $23 billion, and the Wall Street Journal reported on Sunday that Bank of America would pay around $21 billion for LaSalle.
LaSalle would fill in one of the last remaining gaps in national coverage for the second-largest U.S. bank. LaSalle could boost Bank of America's share of the market around Chicago from about 2 percent to over 16 percent, according to analysts.
Read more at Reuters.com Bonds News
LaSalle would fill in one of the last remaining gaps in national coverage for the second-largest U.S. bank. LaSalle could boost Bank of America's share of the market around Chicago from about 2 percent to over 16 percent, according to analysts.
Read more at Reuters.com Bonds News
China's Copper Imports More Than Double in March as Building Demand Gains
(Bloomberg) -- China, the world's biggest consumer of copper, more than doubled imports of the metal in March as the peak demand period for the construction industry began.
Imports of refined copper and alloys rose to 208,014 metric tons, 142 percent more than a year earlier, according to data issued by the Beijing-based customs office today. That's the highest since at least January 2004, according to Bloomberg data.
Read more at Bloomberg Commodities News
Imports of refined copper and alloys rose to 208,014 metric tons, 142 percent more than a year earlier, according to data issued by the Beijing-based customs office today. That's the highest since at least January 2004, according to Bloomberg data.
Read more at Bloomberg Commodities News
BP Struggles to Restore Investor Confidence as Profit, Production Decline
(Bloomberg) -- BP Plc replaced its chief executive officer, settled claims from a deadly Texas refinery blast and cleaned up leaks in Alaskan oil pipelines during the past year. Reviving profit and gaining investor confidence may take longer.
Europe's second-largest oil company probably will report tomorrow that first-quarter profit dropped and production fell for the seventh consecutive period. Shares of London-based BP slid 20 percent in a year, lagging behind Exxon Mobil Corp.'s 24 percent gain and a 6.4 percent increase in the FTSE 100 Index.
Read more at Bloomberg Energy News
Europe's second-largest oil company probably will report tomorrow that first-quarter profit dropped and production fell for the seventh consecutive period. Shares of London-based BP slid 20 percent in a year, lagging behind Exxon Mobil Corp.'s 24 percent gain and a 6.4 percent increase in the FTSE 100 Index.
Read more at Bloomberg Energy News
South Korean Stocks Advance to Record; Samsung and Hyundai Heavy Climb
(Bloomberg) -- South Korea's Kospi index advanced 14.01, or 0.9 percent, to 1547.09 as of 9:02 a.m. in Seoul. The Kosdaq added 1 percent to 698.39.
Samsung Electronics Co. and Hyundai Heavy Industries Co. led gains.
Read more at Bloomberg Stocks News
Samsung Electronics Co. and Hyundai Heavy Industries Co. led gains.
Read more at Bloomberg Stocks News
LaSalle would plug Chicago gap for Bank of America
(Reuters) - Barclays Plc could announce plans to sell LaSalle to Bank of America as early as Monday, as part of a deal in which Barclays would take over Dutch bank ABN AMRO , sources familiar with the situation said.
ABN AMRO's LaSalle, which analysts have said could be worth between $18 billion and $23 billion, has long been viewed as a target for Bank of America, which has a relatively small market share in the Chicago area.
Read more at Reuters.com Mergers News
ABN AMRO's LaSalle, which analysts have said could be worth between $18 billion and $23 billion, has long been viewed as a target for Bank of America, which has a relatively small market share in the Chicago area.
Read more at Reuters.com Mergers News
U.S. Gasoline Pump Price Rises to $2.87 a Gallon, Lundberg's Survey Shows
(Bloomberg) -- U.S. gasoline at the pump rose 8 cents during the past two weeks to an average $2.87 a gallon, the highest price since Aug. 25, Trilby Lundberg said, citing her survey of 7,000 filling stations nationwide.
Wholesale gasoline futures traded in New York rose above $2.19 a gallon on April 12, the highest since August, as refinery shutdowns for repairs reduced inventories. Demand for the motor fuel is strengthening from year-earlier levels.
Read more at Bloomberg Energy News
Wholesale gasoline futures traded in New York rose above $2.19 a gallon on April 12, the highest since August, as refinery shutdowns for repairs reduced inventories. Demand for the motor fuel is strengthening from year-earlier levels.
Read more at Bloomberg Energy News
UPDATE 2-Barclays deal for ABN looms; LaSalle may be sold
(Reuters) - LONDON, April 22 - Barclays Plc is likely to unveil an agreed upon deal to take over Dutch bank ABN AMRO as early as Monday, sources familiar with the situation said, just as Royal Bank of Scotland moves to simplify a possible counter offer.
Barclays has been in exclusive talks to buy ABN for more than a month. The deadline for those talks ran out on Friday, and sources said talks continued over the weekend and may be confirmed early on Monday.
Read more at Reuters.com Mergers News
Barclays has been in exclusive talks to buy ABN for more than a month. The deadline for those talks ran out on Friday, and sources said talks continued over the weekend and may be confirmed early on Monday.
Read more at Reuters.com Mergers News
Gold May Rise for 8th Week as Asia Growth Spurs Demand for Inflation Hedge
(Bloomberg) -- Gold may rise for an eighth straight week as economic growth in Asia boosts demand for the precious metal as a hedge against inflation.
Fifteen of the 30 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on April 19 and April 20 advised buying gold, which rose 0.9 percent to $695.80 an ounce last week on the Comex division of the New York Mercantile Exchange. Seven said to sell and eight were neutral.
Read more at Bloomberg Commodities News
Fifteen of the 30 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on April 19 and April 20 advised buying gold, which rose 0.9 percent to $695.80 an ounce last week on the Comex division of the New York Mercantile Exchange. Seven said to sell and eight were neutral.
Read more at Bloomberg Commodities News
Singapore's Olam says to buy U.S. peanut firm
(Reuters) - Olam said the purchase will allow it to expand into the U.S. peanut processing business.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
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