(Reuters) - Shanghai copper rose more than 1 percent on Tuesday, and prices were likely to remain firm due to a positive outlook for London futures, despite near-term pressure from spot sales in China.
Analysts expect copper prices to hold around $8,000 a tonne on the London Metal Exchange this week and rise further during the May holidays when Shanghai stops trading for a week.
Read more at Reuters Africa
Monday, April 23, 2007
Guinea to honour deals, but seeks investors' help
(Reuters) - Guinea will respect its mining contracts but wants foreign partners to join efforts to avoid a repeat of the social upheaval that hit the world's No. 1 bauxite exporter earlier this year, the foreign minister said on Monday.
Abdoul Kabele Camara said this was the aim of the April 11 decision by Prime Minister Lansana Kouyate's new government to review all minerals contracts in the West African state, which was paralysed by violent strikes in January and February.
Read more at Reuters Africa
Abdoul Kabele Camara said this was the aim of the April 11 decision by Prime Minister Lansana Kouyate's new government to review all minerals contracts in the West African state, which was paralysed by violent strikes in January and February.
Read more at Reuters Africa
European Stocks May Decline on Higher Oil; Air France, BASF Might Retreat
(Bloomberg) -- European stocks may track U.S. equities lower after oil climbed above $65 a barrel. Air France- KLM Group and BASF AG might lead declines among companies sensitive to higher energy prices.
BP Plc may be active after the region's second-biggest oil company reported profit dropped in the first quarter.
Read more at Bloomberg Stocks News
BP Plc may be active after the region's second-biggest oil company reported profit dropped in the first quarter.
Read more at Bloomberg Stocks News
UPDATE 1-Taiwan's AU swings to Q1 loss but recovery looms
(Reuters) - As new computers and flat-screen televisions roll down the production lines after a lower price tag encourages consumers to replace old PCs and TVs, analysts said AU would join its larger overseas rivals to ride on a cyclical upturn in the second half.
Sector leaders Samsung Electronics Co. Ltd. and LG.Philips LCD Co. Ltd. of South Korea have posted mixed quarterly results, while the latter saw a shortage of TV panels and a rebound in PC LCD prices from the third quarter.
Read more at Reuters.com Market News
Sector leaders Samsung Electronics Co. Ltd. and LG.Philips LCD Co. Ltd. of South Korea have posted mixed quarterly results, while the latter saw a shortage of TV panels and a rebound in PC LCD prices from the third quarter.
Read more at Reuters.com Market News
HK shares edge up 0.3 pct in volatile session
(Reuters) - The benchmark Hang Seng Index swung to a gain of 55.20 points to 20,611.77 by lunch after opening down and vacillating in and out of negative territory.
"The market has no direction," said Patrick Shum, strategist at Karl-Thomson Securities.
Read more at Reuters.com Hot Stocks News
"The market has no direction," said Patrick Shum, strategist at Karl-Thomson Securities.
Read more at Reuters.com Hot Stocks News
Japan Five-Year Notes Gain on Relative Value to Long-Term Debt Securities
(Bloomberg) -- Japan's five-year government notes rose after the difference in yield between the debt and 20-year securities tightened to the smallest gap in two months.
Demand for five-year debt increased on speculation a government report this week will show consumer prices declined in March for a second month, backing the case for the Bank of Japan to keep its key interest rate at 0.5 percent.
Read more at Bloomberg Bonds News
Demand for five-year debt increased on speculation a government report this week will show consumer prices declined in March for a second month, backing the case for the Bank of Japan to keep its key interest rate at 0.5 percent.
Read more at Bloomberg Bonds News
Gold drops after rally, platinum off highs
(Reuters) - In other precious metals, platinum and palladium hovered below their highs while silver briefly retested $14. The precious metals market is awaiting the release of U.S. housing data for clues on the direction of the Federal Reserve's monetary policy.
Spot gold eased to $685.70/686.20 an ounce from $688.90/689.40 late in New York on Monday, when it had rallied to $693.60 -- matching Friday's 11-month high.
Read more at Reuters.com Hot Stocks News
Spot gold eased to $685.70/686.20 an ounce from $688.90/689.40 late in New York on Monday, when it had rallied to $693.60 -- matching Friday's 11-month high.
Read more at Reuters.com Hot Stocks News
Asian Currencies: Philippine Peso Drops a 2nd Day on Wider Budget Deficit
(Bloomberg) -- The Philippine peso weakened for a second day after a report yesterday showed the biggest monthly budget deficit in more than a decade.
The peso yesterday had its largest drop in almost a month, after Finance Secretary Gary Teves said the budget shortfall grew to 33.4 billion pesos ($700 million). That's the widest gap since at least 1994 and may threaten the nation's ability to cut down on its debt, which stood at 3.87 trillion pesos as of January.
Read more at Bloomberg Currencies News
The peso yesterday had its largest drop in almost a month, after Finance Secretary Gary Teves said the budget shortfall grew to 33.4 billion pesos ($700 million). That's the widest gap since at least 1994 and may threaten the nation's ability to cut down on its debt, which stood at 3.87 trillion pesos as of January.
Read more at Bloomberg Currencies News
Honda's Fukui Sees New Accord Model as Reviving Sales, Growth in Earnings
(Bloomberg) -- Honda Motor Co. President Takeo Fukui, who spent his career improving the automaker's Accord, is betting that a new version of the car will bolster profits.
The eighth version of the 31-year-old Accord, Honda's best- selling model, is scheduled for this year. Sales may help reverse the 36 percent decline analysts expect in fourth-quarter profit after the company had a one-time gain from its pension costs a year ago.
Read more at Bloomberg Exclusive News
The eighth version of the 31-year-old Accord, Honda's best- selling model, is scheduled for this year. Sales may help reverse the 36 percent decline analysts expect in fourth-quarter profit after the company had a one-time gain from its pension costs a year ago.
Read more at Bloomberg Exclusive News
JGBs edge up as stocks drop, 20-yr sale seen solid
(Reuters) - June 10-year futures climbed 0.15 point to 133.89, getting a lift partly on a 0.8 percent fall in the Nikkei share average in the morning session. The lead contract has held above a three-month low of 133.41 struck last week.
An 800 billion yen offering of 20-year bonds is the main event on an otherwise quiet day, with a slightly higher coupon seen luring institutional investors.
Read more at Reuters.com Bonds News
An 800 billion yen offering of 20-year bonds is the main event on an otherwise quiet day, with a slightly higher coupon seen luring institutional investors.
Read more at Reuters.com Bonds News
Indonesian Court Says Newmont Mine Waste Within Limits; Verdict Expected
(Bloomberg) -- An Indonesian court, preparing to hand down a verdict in the trial for pollution of a local unit of Newmont Mining Corp., the world's second-largest gold miner, said waste dumped by its mine was within limits.
It is known that the tailings never exceeded the specifications, Presiding Judge Ridwan Damanik told the district court in Manado, North Sulawesi today. Tailings are treated material dumped by a mine after metals are extracted.
Read more at Bloomberg Emerging Markets News
It is known that the tailings never exceeded the specifications, Presiding Judge Ridwan Damanik told the district court in Manado, North Sulawesi today. Tailings are treated material dumped by a mine after metals are extracted.
Read more at Bloomberg Emerging Markets News
Carlyle to sell auto parts maker Rhythm to THK
(Reuters) - The remaining 3 percent is held by the management, employees and as equity warrants, THK said.
By acquiring Rhythm, THK said it aimed to expand the application of its products to auto makers. THK also makes parts that are used to help stabilise driving.
Read more at Reuters.com Mergers News
By acquiring Rhythm, THK said it aimed to expand the application of its products to auto makers. THK also makes parts that are used to help stabilise driving.
Read more at Reuters.com Mergers News
Yen Gains for Second Day Against Euro Before Bank of Japan Growth Forecast
(Bloomberg) -- The yen gained for a second day against the euro on speculation the Bank of Japan will this week forecast stronger economic growth, giving policy makers room to raise interest rates.
The Japanese yen advanced against all of the world's 16 most-actively traded currencies as traders cut investments in higher-yielding assets financed by borrowing in the yen, known as carry trades. The central bank may predict 2.3 percent expansion in the year starting next April 1, from 2.1 percent this fiscal year, according to a Bloomberg News survey of economists before its April 27 semiannual outlook.
Read more at Bloomberg Currencies News
The Japanese yen advanced against all of the world's 16 most-actively traded currencies as traders cut investments in higher-yielding assets financed by borrowing in the yen, known as carry trades. The central bank may predict 2.3 percent expansion in the year starting next April 1, from 2.1 percent this fiscal year, according to a Bloomberg News survey of economists before its April 27 semiannual outlook.
Read more at Bloomberg Currencies News
UPDATE 1-U.S. lawsuits over E. coli spinach deaths settled
(Reuters) - Terms of the settlements between the families and the three companies that grew, handled and sold the tainted California spinach are confidential, said lawyer William Marler, whose Seattle-based law firm represented the families.
"We have nearly 90 other cases that are still pending against the three companies," Marler added, referring to Mission Organics, Natural Selection Foods and Dole Food Co.
Read more at Reuters.com Bonds News
"We have nearly 90 other cases that are still pending against the three companies," Marler added, referring to Mission Organics, Natural Selection Foods and Dole Food Co.
Read more at Reuters.com Bonds News
Japan Stocks Drop, Led by Sony, Exporters on Higher Oil; Glassmakers Fall
(Bloomberg) -- Japanese shares fell, led by exporters such as Sony Corp., after the price of crude oil jumped, raising concern higher fuel costs will curb spending in the U.S., Japan's largest overseas market.
Shares also slipped as investors refrained from heavily betting on stocks until they confirm earnings results coming out later this week.
Read more at Bloomberg Stocks News
Shares also slipped as investors refrained from heavily betting on stocks until they confirm earnings results coming out later this week.
Read more at Bloomberg Stocks News
Australia Dollar Little Changed as Inflation Data May Curb Rate Rise Hopes
(Bloomberg) -- The Australian dollar was little changed ahead of a government report which may show consumer prices were lower than expected in the first quarter, prompting investors to curb expectations of higher interest rates.
The consumer price index, the key inflation gauge, probably gained 0.6 percent in the first quarter after falling 0.2 percent in the previous three months, according to economists. Australia's dollar fell the most in two months yesterday after producer prices were unchanged in the three months ended March 31 compared with the 0.6 percent rise expected by economists.
Read more at Bloomberg Currencies News
The consumer price index, the key inflation gauge, probably gained 0.6 percent in the first quarter after falling 0.2 percent in the previous three months, according to economists. Australia's dollar fell the most in two months yesterday after producer prices were unchanged in the three months ended March 31 compared with the 0.6 percent rise expected by economists.
Read more at Bloomberg Currencies News
Auditor tells Black trial accounting spotty
(Reuters) - Testifying at the racketeering and fraud trial of Black and three former associates, KPMG Canada accountant Marilyn Stitt said the accounting firm dropped Hollinger International and related companies as clients in late 2003.
Stitt was asked about early 2002, when KPMG explored whether so-called non-compete payments to top Hollinger executives had been approved by the company's board of directors. She said several questions arose at that time.
Read more at Reuters.com Bonds News
Stitt was asked about early 2002, when KPMG explored whether so-called non-compete payments to top Hollinger executives had been approved by the company's board of directors. She said several questions arose at that time.
Read more at Reuters.com Bonds News
Boston Scientific net falls on Guidant costs
(Reuters) - The consensus estimate on Wall Street was for a profit of 10 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
CORRECTED - GM's Lutz says mortgage 'meltdown' hits auto sales
(Reuters) - Lutz, who was in Louisville, Kentucky to attend an automotive industry conference, said he did not know how GM's own sales had performed in April to date, but said he expected the whole sector would feel the impact of the stress on the housing finance market.
"The market as a whole has been a little weakish. That has come as a result of the housing market problems and the mortgage industry meltdown," Lutz told Reuters. "A lot of people are finding themselves in a position of reduced affordability and that has had an impact, not just on us, but across the industry."
Read more at Reuters.com Government Filings News
"The market as a whole has been a little weakish. That has come as a result of the housing market problems and the mortgage industry meltdown," Lutz told Reuters. "A lot of people are finding themselves in a position of reduced affordability and that has had an impact, not just on us, but across the industry."
Read more at Reuters.com Government Filings News
UPDATE 1-MDU Resources earnings fall, raises forecast
(Reuters) - Net income fell to $46.5 million, or 25 cents a share, compared with $53.1 million, or 29 cents, a year earlier.
Revenue fell to $787.5 million from $803.5 million.
Read more at Reuters.com Market News
Revenue fell to $787.5 million from $803.5 million.
Read more at Reuters.com Market News
Avery's deal for Paxar approved by US regulators
(Reuters) - The deal is subject to approval by Paxar shareholders and regulatory approvals in several other countries and is expected to receive regulatory clearance outside the United States by the end of the second quarter.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
US STOCKS-Wall St opens flat, Dow eyes 13,000 level
(Reuters) - The Dow Jones industrial average was down 5.04 points, or 0.04 percent, at 12,956.94. The Standard & Poor's 500 Index was down 0.62 point, or 0.04 percent, at 1,483.73. The Nasdaq Composite Index was down 0.28 point, or 0.01 percent, at 2,526.11.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Canadian Stocks May Fall on Earnings Concern; CN Rail, Alcan May Decline
(Bloomberg) -- Canadian stocks may fall on concern that earnings don't justify share prices that lifted the Standard & Poor's/TSX Composite Index to a record last week.
Canadian National Railway Co. may report later today that profit declined because of bad weather and a strike. Alcan Inc. is scheduled to release results tomorrow, and energy companies EnCana Corp. and Suncor Energy Inc. are due to publish earnings on April 25 and April 26.
Read more at Bloomberg Stocks News
Canadian National Railway Co. may report later today that profit declined because of bad weather and a strike. Alcan Inc. is scheduled to release results tomorrow, and energy companies EnCana Corp. and Suncor Energy Inc. are due to publish earnings on April 25 and April 26.
Read more at Bloomberg Stocks News
UPDATE 1-Synovus Financial quarterly profit rises
(Reuters) - The Columbus, Georgia-based financial services company reported first-quarter net income of $146.8 million, or 45 cents a share, compared with $134.5 million, or 43 cents a share, in the year-ago quarter.
Analysts on average expected earnings of 46 cents a share, before exceptional items, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average expected earnings of 46 cents a share, before exceptional items, according to Reuters Estimates.
Read more at Reuters.com Market News
CORRECTED - Rohm and Haas first-quarter earnings fall
(Reuters) - The Philadelphia-based chemicals maker posted net earnings of $192 million or 87 cents a share, compared with $207 million or 93 cents a share in the year previous period.
Earnings from continuing operations were $190 million or 86 cents a share, compared with $207 million or 93 cents a share a year ago.
Read more at Reuters.com Market News
Earnings from continuing operations were $190 million or 86 cents a share, compared with $207 million or 93 cents a share a year ago.
Read more at Reuters.com Market News
Kimberly-Clark 1st-qtr profit up; keeps year view
(Reuters) - CHICAGO, April 23 - Kimberly-Clark Corp. posted a higher first-quarter profit on Monday, driven by growth in developing and emerging markets, and stood by its expectations for the full year as it faces higher fiber costs.
The company, known for Kleenex tissues and Huggies diapers, earned $452 million, or 98 per share, compared with a profit of $275.1 million, or 60 cents per share, a year earlier.
Read more at Reuters.com Market News
The company, known for Kleenex tissues and Huggies diapers, earned $452 million, or 98 per share, compared with a profit of $275.1 million, or 60 cents per share, a year earlier.
Read more at Reuters.com Market News
Former ABN Amro Managers Start Hedge Fund With $500 Million Investment
(Bloomberg) -- Gary Vaughan-Smith and Alex Da Costa, two former hedge fund managers at ABN Amro Holding NV, have started an asset-management group investing in other hedge funds.
SilverStreet Capital LLP opens in London today with a $500 million investment from an undisclosed European institution, Vaughan-Smith and Da Costa said in an e-mailed statement. SilverStreet intends to start a separate hedge fund this summer, Vaughan-Smith said in an interview Friday.
Read more at Bloomberg Stocks News
SilverStreet Capital LLP opens in London today with a $500 million investment from an undisclosed European institution, Vaughan-Smith and Da Costa said in an e-mailed statement. SilverStreet intends to start a separate hedge fund this summer, Vaughan-Smith said in an interview Friday.
Read more at Bloomberg Stocks News
TDS to restate some earnings as far back as 2002
(Reuters) - TDS said it would also reschedule its annual meeting, previously set for May 10, to a date after it files its Form 10-K with the U.S. Securities and Exchange Commission.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Corrected: Barclays agrees $91 bln ABN buy
(Reuters) - LONDON/AMSTERDAM - British bank Barclays Plc has agreed to buy Dutch rival ABN AMRO for about 67 billion euros in shares as it attempts to fight off rivals to clinch the world's biggest bank takeover.
Barclays said on Monday it would pay 3.225 new shares for each ABN share, equivalent to 36.25 euros a share at Friday's closing price, to create the world's fifth biggest bank with a market value of over $190 billion and 47 million customers across the globe.
Read more at Reuters.com Business News
Barclays said on Monday it would pay 3.225 new shares for each ABN share, equivalent to 36.25 euros a share at Friday's closing price, to create the world's fifth biggest bank with a market value of over $190 billion and 47 million customers across the globe.
Read more at Reuters.com Business News
GLOBAL MARKETS-European stocks off 6-yr peaks; oil climbs
(Reuters) - The yen rose against the euro, edging above last week's record low after a Japanese credit-rating upgrade prompted investors to buy back the currency, while gold traded near an 11-month high just below a key level of $700 an ounce.
U.S. stock futures pointed to a flat open on Wall Street, with one of the busiest weeks of earnings reports set to begin as the Dow Industrials index flirts with a record 13,000 level .
Read more at Reuters.com Bonds News
U.S. stock futures pointed to a flat open on Wall Street, with one of the busiest weeks of earnings reports set to begin as the Dow Industrials index flirts with a record 13,000 level .
Read more at Reuters.com Bonds News
American Real Estate sells Nevada gaming business for $1.3 bln
(Reuters) - Whitehall Street is a real estate investment fund affiliated with investment bank Goldman Sachs & Co .
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Kimberly-Clark 1st-quarter profit jumps
(Reuters) - Excluding items, the company earned $1.03 per share. In March, Kimberly-Clark said it expected earnings to meet or exceed the high end of a previous forecast of 99 cents to $1.01 per share on that basis. Analysts, on average, called for a profit of $1.01 per share, according to Reuters Estimates.
Shares of Kimberly-Clark hit a six-year high of $71.96 on Friday. The shares trade at about 15.8 times next year's expected earnings, while larger rival Procter & Gamble Co. trades at about 18.4 times its expected 2008 profit, according to Reuters data.
Read more at Reuters.com Market News
Shares of Kimberly-Clark hit a six-year high of $71.96 on Friday. The shares trade at about 15.8 times next year's expected earnings, while larger rival Procter & Gamble Co. trades at about 18.4 times its expected 2008 profit, according to Reuters data.
Read more at Reuters.com Market News
Futures flat on caution about earnings' pace
(Reuters) - Biotechnology stocks will be in the spotlight with a trans-Atlantic takeover deal in the works and Amgen Inc. set to report quarterly earnings after the closing bell.
Anglo-Swedish drug maker AstraZeneca has agreed to buy U.S. biotechnology company MedImmune Inc. for more than $15 billion.
Read more at Reuters.com Hot Stocks News
Anglo-Swedish drug maker AstraZeneca has agreed to buy U.S. biotechnology company MedImmune Inc. for more than $15 billion.
Read more at Reuters.com Hot Stocks News
Argentina, Brazil, Colombia, Mexico: Latin America Bond Trading 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: The trade surplus likely widened in March to $850 million from $720 million in February, according to the median forecast of seven economists in a Bloomberg survey. The statistics agency will release the report today at 3 p.m. New York time.
Read more at Bloomberg Bonds News
Argentina: The trade surplus likely widened in March to $850 million from $720 million in February, according to the median forecast of seven economists in a Bloomberg survey. The statistics agency will release the report today at 3 p.m. New York time.
Read more at Bloomberg Bonds News
UPDATE 1-Business Objects to buy France's Cartesis
(Reuters) - PARIS/NEW YORK, April 23 - Franco-American group Business Objects said on Monday it would buy privately held Cartesis S.A for about $300 million in cash, boosting its offering in the fast-growing financial enterprise software market.
Business Objects, with a market capitalisation of $3.7 billion, had been under pressure to make a move since U.S. software giant Oracle bought its sector rival Hyperion Solutions Corp. in March.
Read more at Reuters.com Mergers News
Business Objects, with a market capitalisation of $3.7 billion, had been under pressure to make a move since U.S. software giant Oracle bought its sector rival Hyperion Solutions Corp. in March.
Read more at Reuters.com Mergers News
U.S. stocks seen weaker, eyes on Texas Instruments
(Reuters) - The Indicative Dow Jones industrial average , which tracks the 30 U.S. blue chips as they are traded on Deutsche Boerse's electronic trading platform, XETRA, and translates the prices into dollars, was down 0.3 percent.
"We continue to see little room for a sustained increase as Wall Street valuations are high in an international comparison and due to the slowing earnings dynamics in the U.S. corporate sector," DZ Bank said in a strategy note.
Read more at Reuters.com Bonds News
"We continue to see little room for a sustained increase as Wall Street valuations are high in an international comparison and due to the slowing earnings dynamics in the U.S. corporate sector," DZ Bank said in a strategy note.
Read more at Reuters.com Bonds News
Copper Declines in London After Grasberg Strike Ends; Tin, Nickel Advance
(Bloomberg) -- Copper dropped in London after a four- day protest at Indonesia's Grasberg, the world's second-largest copper mine, ended over the weekend. Tin and nickel gained.
Copper surpassed the $8,000-a-metric-ton mark last week for the first time in seven months on speculation a labor dispute at the Freeport McMoRan Copper & Gold Inc. mine, which contributed 3.6 percent to world supplies last year, would have cut supplies. The workers and the management settled the dispute on April 21.
Read more at Bloomberg Commodities News
Copper surpassed the $8,000-a-metric-ton mark last week for the first time in seven months on speculation a labor dispute at the Freeport McMoRan Copper & Gold Inc. mine, which contributed 3.6 percent to world supplies last year, would have cut supplies. The workers and the management settled the dispute on April 21.
Read more at Bloomberg Commodities News
Gold Falls From 11-Month High in London as Dollar Rebounds; Silver Drops
(Bloomberg) -- Gold fell from an 11-month high after the dollar gained against the euro, eroding investor demand for the precious metal as an alternative investment. Silver also declined.
Gold gained 23 percent last year as the dollar dropped 10 percent against the euro. The metal earlier today climbed to $695.25 an ounce, the highest since May 18.
Read more at Bloomberg Commodities News
Gold gained 23 percent last year as the dollar dropped 10 percent against the euro. The metal earlier today climbed to $695.25 an ounce, the highest since May 18.
Read more at Bloomberg Commodities News
KKR, Carlyle join race for Thomson unit: source
(Reuters) - The two private equity firms are competing separately against Apax Partners, Warburg Pincus and a team comprising Blackstone Group, Thomas H. Lee Partners and Bain Capital, the Times newspaper reported on Monday without citing sources, and adding that bids could come in around $3.5 billion.
Sources close to the process told Reuters in March that Bain, Blackstone and Thomas H. Lee -- former owners of Houghton Mifflin Co. -- were bidding for Thomson Learning.
Read more at Reuters.com Mergers News
Sources close to the process told Reuters in March that Bain, Blackstone and Thomas H. Lee -- former owners of Houghton Mifflin Co. -- were bidding for Thomson Learning.
Read more at Reuters.com Mergers News
Crude Oil Trades Above $64 in New York on Supply Concern, Gasoline Demand
(Bloomberg) -- Crude oil traded for more than $64 a barrel in New York on concern supplies from Nigeria would be disrupted just as demand for gasoline was surging.
Nigeria is counting votes today after a presidential poll last week that's been criticized for fraud. Militant attacks in Nigeria, Africa's largest oil producer, have already cut about a quarter of its output. U.S. gasoline demand is climbing twice as fast as last year's and will accelerate when summer travel begins next month.
Read more at Bloomberg Energy News
Nigeria is counting votes today after a presidential poll last week that's been criticized for fraud. Militant attacks in Nigeria, Africa's largest oil producer, have already cut about a quarter of its output. U.S. gasoline demand is climbing twice as fast as last year's and will accelerate when summer travel begins next month.
Read more at Bloomberg Energy News
U.K. FTSE 100 Index Slides, Led by Barclays, AstraZeneca on Takeovers
(Bloomberg) -- The U.K.'s FTSE 100 Index fell, led by Barclays Plc. The bank agreed to buy ABN Amro Holding NV for 67 billion euros ($91 billion) in the world's biggest-ever financial-services takeover.
AstraZeneca Plc dropped after agreeing to acquire the U.S. biotechnology company MedImmune Inc. for $15.2 billion in cash.
Read more at Bloomberg Stocks News
AstraZeneca Plc dropped after agreeing to acquire the U.S. biotechnology company MedImmune Inc. for $15.2 billion in cash.
Read more at Bloomberg Stocks News
European Stocks Fall From 6 1/2-Year High; AstraZeneca, SocGen Pace Drop
(Bloomberg) -- European stocks fell from the highest since September 2000, led by AstraZeneca Plc and Societe Generale SA.
AstraZeneca dropped from a two-month high after agreeing to buy MedImmune Inc. for $15.2 billion.Societe Generale, France's second-biggest bank by market value, retreated from a record.
Read more at Bloomberg Stocks News
AstraZeneca dropped from a two-month high after agreeing to buy MedImmune Inc. for $15.2 billion.Societe Generale, France's second-biggest bank by market value, retreated from a record.
Read more at Bloomberg Stocks News
Japan life insurers shun hedged foreign bonds
(Reuters) - In recent interviews with Reuters, many of the nation's top insurers said they planned to keep trimming hedged holdings after cutting them in the 2006-07 financial year, as higher rates make it expensive to protect holdings from currency fluctuations.
Sumitomo Life Insurance, the nation's fourth-largest insurer by assets, said it had let expire euro bonds purchased before the European Central Bank began lifting rates about two years ago, and had no plans to reinvest those funds back into hedged bonds.
Read more at Reuters.com Bonds News
Sumitomo Life Insurance, the nation's fourth-largest insurer by assets, said it had let expire euro bonds purchased before the European Central Bank began lifting rates about two years ago, and had no plans to reinvest those funds back into hedged bonds.
Read more at Reuters.com Bonds News
Dollar's Slide to 27-Month Low Versus Euro May Stall, Bank of America Says
(Bloomberg) -- The dollar's slide to a 27-month low against the euro may stall, according to a technical indicator some traders use to predict currency movements.
The euro's 14-day relative strength index was 70.1 against the dollar today. A level above 70 signals a reversal of direction. Futures traders also raised their bets on the euro to gain against the dollar to a record, suggesting the single currency is vulnerable to a decline.
Read more at Bloomberg Currencies News
The euro's 14-day relative strength index was 70.1 against the dollar today. A level above 70 signals a reversal of direction. Futures traders also raised their bets on the euro to gain against the dollar to a record, suggesting the single currency is vulnerable to a decline.
Read more at Bloomberg Currencies News
UPDATE 2-BA says approaches private equity firms on Iberia
(Reuters) - However, the airline said it had ruled out making an independent bid for the airline.
"Any consortium bid would not involve further capital investment by British Airways," Europe's third-biggest airline said in a statement.
Read more at Reuters.com Mergers News
"Any consortium bid would not involve further capital investment by British Airways," Europe's third-biggest airline said in a statement.
Read more at Reuters.com Mergers News
FEATURE-Iraq war brain trauma victims turn to private care
(Reuters) - Six months later, after intense physical rehab and an infection that made control of his limbs futile, his morale hit bottom. The Department of Veterans Affairs gave him the choice of a nursing home or returning home from a Richmond, Virginia facility, his family said.
"We felt the VA had a 'wait and see' attitude, and our belief was that time was our enemy," said Eric's father Edward, who left his job at Conagra Foods in North Carolina to be his son's full-time health advocate. "So we took him home."
Read more at Reuters.com Government Filings News
"We felt the VA had a 'wait and see' attitude, and our belief was that time was our enemy," said Eric's father Edward, who left his job at Conagra Foods in North Carolina to be his son's full-time health advocate. "So we took him home."
Read more at Reuters.com Government Filings News
German Stocks Including Bayerische Motoren Werke Rise as E.ON Declines
(Bloomberg) -- German stocks including Bayerische Motoren Werke AG and Deutsche Bank AG gained. E.ON AG led falling shares.
The benchmark DAX Index rose 13.82, or 0.2 percent, to 7356.36 as of 9:08 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.2 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index rose 13.82, or 0.2 percent, to 7356.36 as of 9:08 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.2 percent.
Read more at Bloomberg Stocks News
European Bonds Gain, Snapping Two-Day Losing Run, as Yields Lure Investors
(Bloomberg) -- European government bonds gained, snapping a two-day losing streak, as 10-year yields near their highest in a week attracted investors to fixed-income assets.
Benchmark 10-year bunds rose last week as the euro's advance stoked concern about growth in the $10.4 trillion euro region, and as equity markets fell. Debt may also be buoyed as Nicholas Sarkozy, the governing party's nominee in France's presidential election, won 31.1 percent of the votes in the first-round ballot yesterday.
Read more at Bloomberg Bonds News
Benchmark 10-year bunds rose last week as the euro's advance stoked concern about growth in the $10.4 trillion euro region, and as equity markets fell. Debt may also be buoyed as Nicholas Sarkozy, the governing party's nominee in France's presidential election, won 31.1 percent of the votes in the first-round ballot yesterday.
Read more at Bloomberg Bonds News
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