(Reuters) - Malawi has begun exporting 400,000 tonnes of maize to Zimbabwe which faces a 1.5 million tonnes maize deficit, Finance Minister Goodall Gondwe said on Tuesday.
Gondwe told Reuters that some 5,000 tonnes had been shipped to Zimbabwe since March.
Read more at Reuters Africa
Tuesday, May 1, 2007
Dow Jones Investors Predict Murdoch's $5 Billion Bid Will Spark Auction
(Bloomberg) -- Dow Jones & Co. shareholders say Rupert Murdoch's $5 billion takeover bid will spark an auction of the 125-year-old newspaper publisher.
``We're in the first inning,'' said Lawrence J. Haverty Jr., associate portfolio manager at Gamco Investors Inc. in Rye, New York. Gamco had 825,000 Dow Jones shares as of December. ``Dow Jones is a fish in the pond, and there are sharks swimming around.''
Read more at Bloomberg Stocks News
``We're in the first inning,'' said Lawrence J. Haverty Jr., associate portfolio manager at Gamco Investors Inc. in Rye, New York. Gamco had 825,000 Dow Jones shares as of December. ``Dow Jones is a fish in the pond, and there are sharks swimming around.''
Read more at Bloomberg Stocks News
Beckman Coulter Q1 profit rises
(Reuters) - The Fullerton, California-based maker of medical instruments and genetic analysis testing kits, said it earned $37.1 million, or 59 cents per share, compared with $32.6 million, or 50 cents per share, a year ago.
) Keywords: BECKMAN RESULTS/
Read more at Reuters.com Market News
) Keywords: BECKMAN RESULTS/
Read more at Reuters.com Market News
Angiotech, Barrick Gold and Rogers Communiations: Canadian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets. This preview includes news that broke after markets closed. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index slipped 10.35, or 0.1 percent, to 13,406.33 in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index slipped 10.35, or 0.1 percent, to 13,406.33 in Toronto.
Read more at Bloomberg Stocks News
Dollar hits 2-mth high vs yen on solid US data
(Reuters) - The dollar surged to a two-month high against the yen on Wednesday, extending gains in the wake of data that showed U.S. manufacturing has been expanding at its fastest pace in almost a year.
The Institute for Supply Management said its index of national factory activity rose to 54.7 in April from 50.9 in March. The reading was the highest since May 2006.
Read more at Reuters Africa
The Institute for Supply Management said its index of national factory activity rose to 54.7 in April from 50.9 in March. The reading was the highest since May 2006.
Read more at Reuters Africa
Australian, New Zealand Dollars Decline on Yield: World's Biggest Movers
(Bloomberg) -- The Australian and New Zealand dollars fell, the biggest fluctuation of any currencies today, as their yield advantage over the U.S. narrowed after manufacturing accelerated in the world's largest economy.
Both currencies dropped against the dollar as the spread between Australian and U.S. two-year bonds contracted to the narrowest in seven weeks, and the similar spread for New Zealand debt reached the lowest in two weeks. The Institute for Supply Management report yesterday showed U.S. manufacturing grew in April at the fastest pace in almost a year, suggesting the Federal Reserve won't cut interest rates in the next few months.
Read more at Bloomberg Currencies News
Both currencies dropped against the dollar as the spread between Australian and U.S. two-year bonds contracted to the narrowest in seven weeks, and the similar spread for New Zealand debt reached the lowest in two weeks. The Institute for Supply Management report yesterday showed U.S. manufacturing grew in April at the fastest pace in almost a year, suggesting the Federal Reserve won't cut interest rates in the next few months.
Read more at Bloomberg Currencies News
Philippine Bonds Rise on Optimism Over Lower Interest Rates; Peso Gains
(Bloomberg) -- Philippine bonds gained on speculation the central bank may offer lower interest rates on six-month accounts, encouraging finance companies to invest surplus funds in debt. The peso advanced.
Central bank Governor Amando Tetangco said on April 27 that the deposits for lenders, which will be open to a wider range of institutions from May 10, will earn ``prevailing market rates.'' Philippine six-month notes yielded 3.56 percent on the April 30 auction, compared with 8 percent for the equivalent rate on the central bank deposits.
Read more at Bloomberg Bonds News
Central bank Governor Amando Tetangco said on April 27 that the deposits for lenders, which will be open to a wider range of institutions from May 10, will earn ``prevailing market rates.'' Philippine six-month notes yielded 3.56 percent on the April 30 auction, compared with 8 percent for the equivalent rate on the central bank deposits.
Read more at Bloomberg Bonds News
Germany's FMC says Q1 operating profit rises
(Reuters) - Average revenue per dialysis treatment in the United States, a key parameter of the performance of a dialysis firm, rose 6 percent to $329.
FMC last year spent $3.5 billion to acquire Renal Care Group to strengthen its leading position in the United States, the world's biggest dialysis market.
Read more at Reuters.com Market News
FMC last year spent $3.5 billion to acquire Renal Care Group to strengthen its leading position in the United States, the world's biggest dialysis market.
Read more at Reuters.com Market News
Barclays Hires Citigroup's Hirakawa to Lead Asia Leveraged Finance Team
(Bloomberg) -- Barclays Capital, the investment banking arm of the third-biggest U.K. bank, said it hired Alan Hirakawa from Citigroup Inc. to head its leveraged finance business in the Asia-Pacific region.
Hirakawa, 46, will report to Darcy Lai, Barclays Capital's head of investment banking and debt capital markets in Asia, Barclays said in a statement today. Hirakawa will also report to John Kelting, head of European leveraged finance in London.
Read more at Bloomberg Bonds News
Hirakawa, 46, will report to Darcy Lai, Barclays Capital's head of investment banking and debt capital markets in Asia, Barclays said in a statement today. Hirakawa will also report to John Kelting, head of European leveraged finance in London.
Read more at Bloomberg Bonds News
AMP, Marc Faber Cite 1920s `Long-Wave' Theory for Commodity-Stock Optimism
(Bloomberg) -- Russian economist Nikolai Kondratiev argued in the 1920s that commodities move in 50- to 60-year cycles. His analysis suggested prices would rise early this century. They did.
Now investors Shane Oliver and Marc Faber are using his theory to back their bets that the 5 1/2-year-old rally in commodity-related stocks is only just the beginning.
Read more at Bloomberg Stocks News
Now investors Shane Oliver and Marc Faber are using his theory to back their bets that the 5 1/2-year-old rally in commodity-related stocks is only just the beginning.
Read more at Bloomberg Stocks News
U.K. Stocks Decline, Led by Hanson, Balfour on U.S. Housing Market Concern
(Bloomberg) -- U.K. stocks slid, paced by construction companies on concern a slowing U.S. housing market will erode earnings growth in the industry.
Hanson Plc, the world's largest supplier of crushed rock used in construction, led the decline. Balfour Beatty Plc, the U.K.'s biggest construction company, also fell.
Read more at Bloomberg Stocks News
Hanson Plc, the world's largest supplier of crushed rock used in construction, led the decline. Balfour Beatty Plc, the U.K.'s biggest construction company, also fell.
Read more at Bloomberg Stocks News
U.S. Stocks Rise; Dow Jones Leads Gain in Newspaper Shares on Takeover Bid
(Bloomberg) -- The Dow Jones Industrial Average climbed to a record on the day Rupert Murdoch offered about $5 billion to buy Dow Jones & Co., whose founders created the 30- stock average 111 years ago.
Dow Jones, owner of The Wall Street Journal, surged the most since at least 1980 to lead a rally in newspaper shares including New York Times Co. Announced mergers and acquisitions involving U.S. companies so far this year total $794 billion, 51 percent more than during the same period in 2006, a record year.
Read more at Bloomberg Stocks News
Dow Jones, owner of The Wall Street Journal, surged the most since at least 1980 to lead a rally in newspaper shares including New York Times Co. Announced mergers and acquisitions involving U.S. companies so far this year total $794 billion, 51 percent more than during the same period in 2006, a record year.
Read more at Bloomberg Stocks News
Sohu.com Shares Decline After Profit, Forecast Miss Analysts' Estimates
(Bloomberg) -- Shares of Sohu.com Inc., China's third- biggest Internet portal, fell in U.S. trading as increased spending on new Web sites led the company to post results and forecast earnings that missed some analysts' estimates.
The stock dropped 10 percent to $22.93 in extended trading on the Nasdaq Stock Market. Yesterday, Beijing-based Sohu reported first-quarter profit fell 26 percent to $4.47 million, missing the average estimate compiled by Bloomberg by 20 percent. This quarter's earnings forecast also fell short.
Read more at Bloomberg Emerging Markets News
The stock dropped 10 percent to $22.93 in extended trading on the Nasdaq Stock Market. Yesterday, Beijing-based Sohu reported first-quarter profit fell 26 percent to $4.47 million, missing the average estimate compiled by Bloomberg by 20 percent. This quarter's earnings forecast also fell short.
Read more at Bloomberg Emerging Markets News
Australian, New Zealand Dollars Fall as Yield Advantage With U.S. Narrows
(Bloomberg) -- The Australian and New Zealand dollars fell, the biggest fluctuation of any currencies today, as their yield advantage over the U.S. narrowed after manufacturing accelerated in the world's largest economy.
Both currencies dropped against the dollar after the spread between Australian and U.S. two-year bonds shrank to the smallest in seven weeks, and the similar spread for New Zealand reached the lowest in two weeks. An Institute for Supply Management report yesterday showed U.S. manufacturing grew in April at the fastest pace in almost a year, suggesting the Federal Reserve won't cut interest rates anytime soon.
Read more at Bloomberg Currencies News
Both currencies dropped against the dollar after the spread between Australian and U.S. two-year bonds shrank to the smallest in seven weeks, and the similar spread for New Zealand reached the lowest in two weeks. An Institute for Supply Management report yesterday showed U.S. manufacturing grew in April at the fastest pace in almost a year, suggesting the Federal Reserve won't cut interest rates anytime soon.
Read more at Bloomberg Currencies News
Turkish Lira Volatility May Remain High After Call for Early Election
(Bloomberg) -- Turkish lira options volatility may remain near a two-month high as investors seek protection against a decline in the currency's value after the nation's highest court annulled the presidential election.
The ruling prompted Prime Minister Recep Tayyip Erdogan to call for an early general election, possibly as soon as June 24, to affirm the legitimacy of the government, led by his ruling Justice and Development Party, also known as the AKP.
Read more at Bloomberg Currencies News
The ruling prompted Prime Minister Recep Tayyip Erdogan to call for an early general election, possibly as soon as June 24, to affirm the legitimacy of the government, led by his ruling Justice and Development Party, also known as the AKP.
Read more at Bloomberg Currencies News
Copper Little Changed in Asia as Peru Mine Workers Strike Threatens Supply
(Bloomberg) -- Copper prices were little changed in Asia after they gained the most in two weeks as a strike by mine workers in Peru, the world's third-largest producer of the industrial metal, threatened to disrupt supplies.
Workers at almost half of Peru's 70 mining unions joined the strike, including employees of Southern Copper Corp., Mining Federation Secretary General Luis Castillo said April 30 from Lima. Copper, which has gained 27 percent this year on signs of rising demand, reached a record last May on supply disruptions.
Read more at Bloomberg Commodities News
Workers at almost half of Peru's 70 mining unions joined the strike, including employees of Southern Copper Corp., Mining Federation Secretary General Luis Castillo said April 30 from Lima. Copper, which has gained 27 percent this year on signs of rising demand, reached a record last May on supply disruptions.
Read more at Bloomberg Commodities News
Xerox's Burns May Succeed Mulcahy, Become First Black Woman Corporate Head
(Bloomberg) -- Xerox Corp. is home to a lot of firsts. It invented the laser printer, the Ethernet data network and the computer mouse. Now it may become the first Fortune 500 company headed by a black woman.
Chief Executive Officer Anne Mulcahy, 54, on April 3 named Ursula Burns, 48, president with the expectation that she would move up when Mulcahy steps down, analysts including J.P. Morgan Securities Inc.'s Bill Shope wrote in notes on the appointment. Burns, who grew up in a housing project in Manhattan, also became the only inside director besides the CEO.
Read more at Bloomberg Exclusive News
Chief Executive Officer Anne Mulcahy, 54, on April 3 named Ursula Burns, 48, president with the expectation that she would move up when Mulcahy steps down, analysts including J.P. Morgan Securities Inc.'s Bill Shope wrote in notes on the appointment. Burns, who grew up in a housing project in Manhattan, also became the only inside director besides the CEO.
Read more at Bloomberg Exclusive News
BP Chief Browne Steps Down After Losing Legal Battle With U.K. Tabloid
(Bloomberg) -- John Browne stepped down as chief executive officer of BP Plc three months earlier than planned after losing a legal battle to prevent the publication of claims he let a former boyfriend use company resources.
BP, Europe's second-biggest oil company, said today in London that Tony Hayward, who was scheduled to replace Browne Aug. 1, takes over the position immediately. BP said allegations Browne misused resources were ``unfounded or insubstantive.''
Read more at Bloomberg Energy News
BP, Europe's second-biggest oil company, said today in London that Tony Hayward, who was scheduled to replace Browne Aug. 1, takes over the position immediately. BP said allegations Browne misused resources were ``unfounded or insubstantive.''
Read more at Bloomberg Energy News
Power Station Coal for May Delivery Rises in Amsterdam, Rotterdam, Antwerp
(Bloomberg) -- Coal burned by power stations for May delivery in Amsterdam, Rotterdam or Antwerp rose.
The fuel gained 27 cents, or 0.4 percent, to $71.40 a metric ton, according to ICAP Plc prices. The latest trade was made at 10:13 a.m. London time. The price has increased 7.5 percent this year.
Read more at Bloomberg Energy News
The fuel gained 27 cents, or 0.4 percent, to $71.40 a metric ton, according to ICAP Plc prices. The latest trade was made at 10:13 a.m. London time. The price has increased 7.5 percent this year.
Read more at Bloomberg Energy News
U.K. Power Rises; Exports to France Likely Tomorrow, After Public Holiday
(Bloomberg) -- U.K. power for delivery a day ahead rose as a higher French price suggested flows on a cable connecting the two countries will switch direction tomorrow, so Britain is exporting electricity to continental Europe.
U.K. day-ahead power increased as much as 18 percent to 20.25 pounds ($40.55) a megawatt hour, according to price information on Bloomberg from the energy broker Spectron Group Plc. It last traded at 20.25 pounds a megawatt hour as of 9:30 a.m. in London.
Read more at Bloomberg Energy News
U.K. day-ahead power increased as much as 18 percent to 20.25 pounds ($40.55) a megawatt hour, according to price information on Bloomberg from the energy broker Spectron Group Plc. It last traded at 20.25 pounds a megawatt hour as of 9:30 a.m. in London.
Read more at Bloomberg Energy News
U.K. Manufacturing Growth Slows to Lowest in Three Months in April
(Bloomberg) -- U.K. manufacturing grew at the slowest pace in three months in April, a sign factory production is buckling under the burden of a stronger pound.
An index based on a survey of more than 600 manufacturers fell to 53.9 from a revised 54.2 in March, the Chartered Institute of Purchasing and Supply and Royal Bank of Scotland Group Plc said today. Economists forecast 54, the median of 28 estimates in a Bloomberg News survey showed.
Read more at Bloomberg Bonds News
An index based on a survey of more than 600 manufacturers fell to 53.9 from a revised 54.2 in March, the Chartered Institute of Purchasing and Supply and Royal Bank of Scotland Group Plc said today. Economists forecast 54, the median of 28 estimates in a Bloomberg News survey showed.
Read more at Bloomberg Bonds News
Taiwan says foreign interest in banks to persist
(Reuters) - Hu Sheng-cheng, chairman of the Financial Supervisory Commission, was unfazed by the concerns.
"We have a number of other international financial institutions interested in our banks," Hu said a a briefing with foreign media. "I think in the next few months, we will continue to see activities in this area."
Read more at Reuters.com Mergers News
"We have a number of other international financial institutions interested in our banks," Hu said a a briefing with foreign media. "I think in the next few months, we will continue to see activities in this area."
Read more at Reuters.com Mergers News
Thailand Inflation Slows to Lowest in Three Years Amid Protests, Terrorism
(Bloomberg) -- Thailand's inflation rate slowed in April to the lowest in more than three years as anti-government protests and terror attacks curbed consumption.
Consumer prices gained 1.8 percent from a year earlier, the commerce ministry said today. That compares with the 1.7 percent median estimate of 16 economists surveyed by Bloomberg News. Prices rose 2 percent in March.
Read more at Bloomberg Emerging Markets News
Consumer prices gained 1.8 percent from a year earlier, the commerce ministry said today. That compares with the 1.7 percent median estimate of 16 economists surveyed by Bloomberg News. Prices rose 2 percent in March.
Read more at Bloomberg Emerging Markets News
Sell Turkish Stocks on Political Outlook, Citigroup Strategists Say
(Bloomberg) -- Investors should sell Turkish stocks because political instability in the country is likely to trigger further losses after yesterday's plunge, according to Citigroup Inc. strategists.
Andrew Howell and Geoffrey Dennis, New York-based strategists at the world's largest bank, cut their recommendation on Turkey to ``underweight'' from ``overweight'' within emerging markets in Europe, Middle East and Africa.
Read more at Bloomberg Stocks News
Andrew Howell and Geoffrey Dennis, New York-based strategists at the world's largest bank, cut their recommendation on Turkey to ``underweight'' from ``overweight'' within emerging markets in Europe, Middle East and Africa.
Read more at Bloomberg Stocks News
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