(Reuters) - -- Percent of family businesses that pass successfully to the second generation: 35 percent
-- Percent of family businesses that pass successfully to the third generation: 12 percent
Read more at Reuters.com Business News
Friday, May 11, 2007
Latin Stocks Rise, Led by Petrobras, Brazilian Banks, on U.S. Rate Outlook
(Bloomberg) -- Latin American stocks rose within a quarter percentage point of a record, led by Brazil's Petroleo Brasileiro SA, on speculation that a cut in U.S. borrowing costs will spur demand for the region's exports.
The Morgan Stanley Capital International index of Latin American stocks rose 1.3 percent to 3481.81, heading to a gain of 1 percent for the week and 0.2 percent below its May 9 record of 3489.74. Brazil's Bovespa index rose 785.81, or 1.6 percent, to 51,020.49 at 1:45 p.m. New York time. Mexico's Bolsa index rose 366.59, or 1.2 percent, to 30,020.41.
Read more at Bloomberg Stocks News
The Morgan Stanley Capital International index of Latin American stocks rose 1.3 percent to 3481.81, heading to a gain of 1 percent for the week and 0.2 percent below its May 9 record of 3489.74. Brazil's Bovespa index rose 785.81, or 1.6 percent, to 51,020.49 at 1:45 p.m. New York time. Mexico's Bolsa index rose 366.59, or 1.2 percent, to 30,020.41.
Read more at Bloomberg Stocks News
California Pizza Kitchen, THQ, Virgin Media, Mamma.com: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 1:10 p.m. New York time.
Alcatel-Lucent (ALU US) American depositary receipts, each representing one share, rose 52 cents, or 4 percent, to $13.52 and traded as high as $13.58. The world's largest supplier of telecommunications equipment forecast a 10 percent increase in second-quarter sales from the first period. The stock was upgraded to ``outperform'' from ``neutral'' at Credit Suisse.
Read more at Bloomberg Stocks News
Alcatel-Lucent (ALU US) American depositary receipts, each representing one share, rose 52 cents, or 4 percent, to $13.52 and traded as high as $13.58. The world's largest supplier of telecommunications equipment forecast a 10 percent increase in second-quarter sales from the first period. The stock was upgraded to ``outperform'' from ``neutral'' at Credit Suisse.
Read more at Bloomberg Stocks News
TREASURIES-Bonds down as rally fizzles on stocks jump
(Reuters) - Major Wall Street stock indexes were up more than half a percent on the day, recovering from Thursday's sell-off, which was the biggest drop in two months.
Weak data on retail sales and underlying producer price inflation boosted hopes that the Federal Reserve would cut rates earlier than expected, initially resulting in a rally in Treasury prices that took benchmark 10-year yields to their lowest level since late March.
Read more at Reuters.com Bonds News
Weak data on retail sales and underlying producer price inflation boosted hopes that the Federal Reserve would cut rates earlier than expected, initially resulting in a rally in Treasury prices that took benchmark 10-year yields to their lowest level since late March.
Read more at Reuters.com Bonds News
UPDATE 2-MOVES-Fried, Frank; CapitalSource
(Reuters) - FRIED, FRANK
Fried, Frank, Harris, Shriver & Jacobson said John Sorkin would join the law firm as a corporate partner in the Mergers and Acquisitions practice in New York. Previously he was a partner in the corporate department of Latham & Watkins LLP in New York.
Read more at Reuters.com Bonds News
Fried, Frank, Harris, Shriver & Jacobson said John Sorkin would join the law firm as a corporate partner in the Mergers and Acquisitions practice in New York. Previously he was a partner in the corporate department of Latham & Watkins LLP in New York.
Read more at Reuters.com Bonds News
UPDATE 1-PDVSA 2007 income will be at least $61 bln -FinMin
(Reuters) - The fourth-largest exporter of oil to the United States depends on its oil industry for the vast majority of its foreign currency reserves, which have dwindled as President Hugo Chavez steps up social spending for the poor majority.
PDVSA's income from oil and product sales was $55 billion last year. Including sales from foreign subsidiaries, such as the U.S.-based refiner Citgo, the figure was $102 billion.
Read more at Reuters.com Bonds News
PDVSA's income from oil and product sales was $55 billion last year. Including sales from foreign subsidiaries, such as the U.S.-based refiner Citgo, the figure was $102 billion.
Read more at Reuters.com Bonds News
U.S. Auto Parts profit beats forecast as shares rise
(Reuters) - Rohan also noted that gross margins of 31.2 percent should represent the trough quarter for 2007, with the company seeing an improvement sequentially. He raised his rating to "outperform" from "sector perform."
Shares of the company, which debuted in February on the Nasdaq, rose to as high as $6.94 before trading up 85 cents at $6.75 in morning trade.
Read more at Reuters.com Hot Stocks News
Shares of the company, which debuted in February on the Nasdaq, rose to as high as $6.94 before trading up 85 cents at $6.75 in morning trade.
Read more at Reuters.com Hot Stocks News
Sugar in New York Heads to Weekly Loss as Brazil Forecasts Record Harvest
(Bloomberg) -- Sugar in New York was little changed, heading for a weekly loss, after Brazil's government forecast a record cane crop that may swell a global surplus.
Farmers in Brazil will harvest 513.1 million metric tons, up from an April estimate of 491.5 million tons, the Rio de Janeiro-based statistics agency known as IBGE said yesterday. Brazil, the world's biggest sugar producer, harvested 455.3 million tons last year.
Read more at Bloomberg Commodities News
Farmers in Brazil will harvest 513.1 million metric tons, up from an April estimate of 491.5 million tons, the Rio de Janeiro-based statistics agency known as IBGE said yesterday. Brazil, the world's biggest sugar producer, harvested 455.3 million tons last year.
Read more at Bloomberg Commodities News
Swiss Franc Advances to One-Month High as Traders Pare Carry Trades
(Bloomberg) -- The Swiss franc reached its best level versus the euro this month as falling stock markets prompted investors to reduce holdings of riskier assets.
The currency of Europe's eighth largest economy is set for only its second weekly gain in the past two months as investors reduce so-called carry trades, where they borrow in francs and buy higher yielding assets elsewhere. Currencies from the New Zealand dollar to the South African rand, carry-trade favorites, are set for weekly declines.
Read more at Bloomberg Currencies News
The currency of Europe's eighth largest economy is set for only its second weekly gain in the past two months as investors reduce so-called carry trades, where they borrow in francs and buy higher yielding assets elsewhere. Currencies from the New Zealand dollar to the South African rand, carry-trade favorites, are set for weekly declines.
Read more at Bloomberg Currencies News
FACTBOX: Gordon Brown's policies
(Reuters) - Following are some of the policy areas Brown must tackle.
ECONOMY:
Read more at Reuters.com Bonds News
ECONOMY:
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Cox Enterprises' outlook positive, was stable-S&P
(Reuters) - The outlook change follows the company's announcement that it is exchanging its 25 percent stake in the Discovery Channel for a new entity, which will include the Travel Channel, and $1.275 billion in cash, S&P said in a statement. The cash will likely be used to reduce debt, S&P said.
The company also has a healthy operating performance, especially at its cable unit Cox Communications and at its automobile auction business Manheim, S&P said.
Read more at Reuters.com Bonds News
The company also has a healthy operating performance, especially at its cable unit Cox Communications and at its automobile auction business Manheim, S&P said.
Read more at Reuters.com Bonds News
U.S. Stocks Advance After Inflation, Retail Sales Data Spur Rate-Cut Hopes
(Bloomberg) -- U.S. stocks gained after producer prices eased, spurring speculation the Federal Reserve has leeway to cut interest rates.
Chicago Mercantile Exchange Holdings Inc. advanced the most in two months after saying it will buy back $3.5 billion of its shares. Nvidia Corp. was the best performer in the Standard & Poor's 500 Index after the world's second-largest producer of computer-graphics chips reported profit that beat analysts' estimates.
Read more at Bloomberg Stocks News
Chicago Mercantile Exchange Holdings Inc. advanced the most in two months after saying it will buy back $3.5 billion of its shares. Nvidia Corp. was the best performer in the Standard & Poor's 500 Index after the world's second-largest producer of computer-graphics chips reported profit that beat analysts' estimates.
Read more at Bloomberg Stocks News
Americans cut savings as stock prices rise-survey
(Reuters) - "Most of the spending gains have been among higher income households, who reported in April that the positive impact of rising stock prices was offset by concerns about falling home prices," said Richard Curtin, director of consumer surveys at the University of Michigan.
"How the tradeoff between rising stock prices and falling home prices is assessed is a critical issue for the May survey," he said.
Read more at Reuters.com Economic News
"How the tradeoff between rising stock prices and falling home prices is assessed is a critical issue for the May survey," he said.
Read more at Reuters.com Economic News
Thomson to sell education assets for $7.75 billion
(Reuters) - Thomson said it signed agreements with funds advised by Apax Partners and OMERS Capital Partners to sell the higher education, careers and library reference assets of Thomson Learning.
A consortium of funds advised by the two firms would also buy Nelson Canada, which provides educational books and online resources.
Read more at Reuters.com Business News
A consortium of funds advised by the two firms would also buy Nelson Canada, which provides educational books and online resources.
Read more at Reuters.com Business News
Thomson to sell education assets
(Reuters) - Thomson said it signed agreements with funds advised by Apax Partners and OMERS Capital Partners to sell the higher education, careers and library reference assets of Thomson Learning.
A consortium of funds advised by the two firms would also buy Nelson Canada, which provides educational books and online resources.
Read more at Reuters.com Mergers News
A consortium of funds advised by the two firms would also buy Nelson Canada, which provides educational books and online resources.
Read more at Reuters.com Mergers News
US STOCKS-Futures jump as core PPI stays flat
(Reuters) - NEW YORK, May 11 - U.S. stock index futures rose on Friday, suggesting Wall Street will rebound from Thursday's drop, after core producer prices data pointed to moderating inflation.
Higher fuel costs nudged producer prices up 0.7 percent last month, but stripping out food and energy, wholesale prices were unchanged, the Labor Department said. Analysts had expected so-called "core" producer prices to rise 0.2 percent.
Read more at Reuters.com Bonds News
Higher fuel costs nudged producer prices up 0.7 percent last month, but stripping out food and energy, wholesale prices were unchanged, the Labor Department said. Analysts had expected so-called "core" producer prices to rise 0.2 percent.
Read more at Reuters.com Bonds News
UPDATE 1-RSC Holdings files for about 20.8 million shares in IPO
(Reuters) - The company expects net proceeds of $278.8 million from the offering and plans to use the same to repay debt and for general corporate purposes.
The Scottsdale, Arizona-based company is offering about 12.5 million shares, and selling stockholders are about 8.3 million shares of the common stock.
Read more at Reuters.com Government Filings News
The Scottsdale, Arizona-based company is offering about 12.5 million shares, and selling stockholders are about 8.3 million shares of the common stock.
Read more at Reuters.com Government Filings News
Retail sales take surprise drop in April
(Reuters) - Excluding automobiles that account for 20 percent of total retail business, sales were flat in April but that was following a 1.1 percent March increase.
The sales figures came in much weaker than Wall Street economists had forecast and will reinforce worry that consumers will have difficulty sustaining their spending punch that fuels two-thirds of national economic activity.
Read more at Reuters.com Business News
The sales figures came in much weaker than Wall Street economists had forecast and will reinforce worry that consumers will have difficulty sustaining their spending punch that fuels two-thirds of national economic activity.
Read more at Reuters.com Business News
KB Home mulls sale of French stake
(Reuters) - The shares traded up 10 percent after the announcement to $47.54 in premarket trading.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
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