(Reuters) - KOF decision to object to the purchase.
They gave no reason for the move.
Read more at Reuters.com Bonds News
They gave no reason for the move.
Read more at Reuters.com Bonds News
Friday, May 25, 2007
UPDATE 1-U.S. sues two real-estate firms
(Reuters) - The suit, filed on Wednesday in the central district of
California, seeks to recover "illegitimate profits" generated
by "sham" joint ventures formerly operated by Realogy Corp.,
Prudential California Realty and Property I.D. Corp.
Under California law, home sellers or their real estate
agents are required to provide a statement of hazards, such as
flooding, fires, or earthquake fault lines, usually in the
settlement process for a property sale, according to the
government.
Read more at Reuters.com Government Filings News
California, seeks to recover "illegitimate profits" generated
by "sham" joint ventures formerly operated by Realogy Corp.,
Prudential California Realty and Property I.D. Corp.
Under California law, home sellers or their real estate
agents are required to provide a statement of hazards, such as
flooding, fires, or earthquake fault lines, usually in the
settlement process for a property sale, according to the
government.
Read more at Reuters.com Government Filings News
U.S. Senate panel eyes tax gap on stock gains
(Reuters) - The proposal would require brokers to report to their
customers the cost basis of securities that are sold as well as
the proceeds. The information would also be reported to the
Internal Revenue Service.
Currently brokers provide clients with information on the
proceeds from a sale, but usually leave it to the client to
figure out the cost basis and the gain or loss to be reported
to the IRS.
Read more at Reuters.com Government Filings News
customers the cost basis of securities that are sold as well as
the proceeds. The information would also be reported to the
Internal Revenue Service.
Currently brokers provide clients with information on the
proceeds from a sale, but usually leave it to the client to
figure out the cost basis and the gain or loss to be reported
to the IRS.
Read more at Reuters.com Government Filings News
Kumpulan Europlus, Tata Tea and Union Bank: Asia Ex-Japan Equity Preview
(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan, on May 28. This preview
includes news that broke after markets closed. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.
Cnooc Ltd. (883 HK): China's biggest offshore oil producer
may get approval to sell yuan-denominated shares to mainland
investors for a so-called A-share listing this year, Chairman Fu
Chengyu said. The stock fell 17 cents, or 2.3 percent, to HK$7.26
in Hong Kong.
Read more at Bloomberg Stocks News
in Asian markets, excluding Japan, on May 28. This preview
includes news that broke after markets closed. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.
Cnooc Ltd. (883 HK): China's biggest offshore oil producer
may get approval to sell yuan-denominated shares to mainland
investors for a so-called A-share listing this year, Chairman Fu
Chengyu said. The stock fell 17 cents, or 2.3 percent, to HK$7.26
in Hong Kong.
Read more at Bloomberg Stocks News
UBS co-global M&A boss leaving - internal memo
(Reuters) - The memo was addressed to UBS investment banking employees
and was sent by its joint global investment banking heads Alex
Wilmot-Sitwell and Rick Leaman.
A separate memo, sent by Leaman and Wilmot-Sitwell and
dated Friday, said that Adam Reeder and Steve Conway, who ran
UBS' Financial Sponsors/Leveraged Finance business, would take
on new roles, announcements of which would be made in the
coming days.
Read more at Reuters.com Mergers News
and was sent by its joint global investment banking heads Alex
Wilmot-Sitwell and Rick Leaman.
A separate memo, sent by Leaman and Wilmot-Sitwell and
dated Friday, said that Adam Reeder and Steve Conway, who ran
UBS' Financial Sponsors/Leveraged Finance business, would take
on new roles, announcements of which would be made in the
coming days.
Read more at Reuters.com Mergers News
Copper Rises Most in Two Months in New York After China's Inventories Drop
(Bloomberg) -- Copper in New York rose the most in
two months after stockpiles in Shanghai dropped, signaling a
pickup in Chinese demand and easing concern that the world's
biggest consumer was oversupplied.
Inventories at five warehouses in the city fell 0.5 percent
in the past week from a three-year high, the Shanghai Futures
Exchange said today on its Web site. Stockpiles monitored by
London Metal Exchange declined for a sixth daily session.
Read more at Bloomberg Commodities News
two months after stockpiles in Shanghai dropped, signaling a
pickup in Chinese demand and easing concern that the world's
biggest consumer was oversupplied.
Inventories at five warehouses in the city fell 0.5 percent
in the past week from a three-year high, the Shanghai Futures
Exchange said today on its Web site. Stockpiles monitored by
London Metal Exchange declined for a sixth daily session.
Read more at Bloomberg Commodities News
Court orders review of World Cup sponsor ruling
(Reuters) - The decision means that sponsorship for the 2010 and 2014 World Cups remains uncertain.
In December, U.S. District Judge Loretta Preska ruled that MasterCard -- not rival Visa International -- should get an eight-year contract with soccer's governing body, FIFA. MasterCard already had sponsored the tournament for 16 years.
Read more at Reuters.com Business News
In December, U.S. District Judge Loretta Preska ruled that MasterCard -- not rival Visa International -- should get an eight-year contract with soccer's governing body, FIFA. MasterCard already had sponsored the tournament for 16 years.
Read more at Reuters.com Business News
EnteroMedics files for $86.25 mln IPO
(Reuters) - It is seeking Nasdaq listing under the symbol "ETRM."
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
S.African stocks slip; gold miners sag,Telkom stars
(Reuters) - South African stocks dipped on Friday as a stronger rand and a lacklustre gold price hit miners but fixed-line phone firm Telkom jumped on signs the onset of fully-fledged competition could be delayed.
The Johannesburg Top-40 index of blue-chip stocks slipped 1 percent to 25,536.42 points, after falling more sharply earlier in the day following weakness on Asian markets.
Read more at Reuters Africa
The Johannesburg Top-40 index of blue-chip stocks slipped 1 percent to 25,536.42 points, after falling more sharply earlier in the day following weakness on Asian markets.
Read more at Reuters Africa
Wheat Rises as Rain and Wind Batter Freeze-Damaged Crops on U.S. Plains
(Bloomberg) -- Wheat rose in Chicago and Kansas City
as rain and wind damaged crops already hurt by an early April
freeze in the U.S. southern Great Plains.
Parts of Kansas and Oklahoma, the largest U.S. growers of
hard-red winter wheat used to make bread and flour, have
received as much as six times normal moisture in the past week,
flooding fields and knocking down weakened plants. As much as
7.1 inches (18 centimeters) of rain fell yesterday in
Hutchinson, Kansas, according to the National Weather Service.
Read more at Bloomberg Commodities News
as rain and wind damaged crops already hurt by an early April
freeze in the U.S. southern Great Plains.
Parts of Kansas and Oklahoma, the largest U.S. growers of
hard-red winter wheat used to make bread and flour, have
received as much as six times normal moisture in the past week,
flooding fields and knocking down weakened plants. As much as
7.1 inches (18 centimeters) of rain fell yesterday in
Hutchinson, Kansas, according to the National Weather Service.
Read more at Bloomberg Commodities News
Norway to buy 4 Hercules planes for $597 mln
(Reuters) - "The defence forces have a great need for flexible and secure transport aircraft capacity, especially in Afghanistan," she said.
Norway has about 600 soldiers serving with the NATO stabilization force in Afghanistan.
Read more at Reuters.com Business News
Norway has about 600 soldiers serving with the NATO stabilization force in Afghanistan.
Read more at Reuters.com Business News
Lowe's expands share buyback, raises qtrly dividend
(Reuters) - The home improvement retailer said it raised its dividend to 8 cents from 5 cents a share previously. The dividend will be payable on Aug. 3 to shareholders of record on July 20.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Morgan Stanley Hires From Barclays, Deutsche Bank for High-Yield Loans
(Bloomberg) -- Morgan Stanley hired two loan traders
from Barclays Capital and Deutsche Bank AG, boosting the high-
risk, high-yield debt trading team at the London office of the
second-largest securities firm to eight.
Robert Campbell, who formerly ran loan trading at Barclays
Capital, will join as an executive director in August, said
Robert Lepone, head of European distressed and leveraged credit
trading at Morgan Stanley. Andrew Jarman joins as an associate
from Deutsche Bank. Both will trade high-yield loans, bonds and
derivatives, reporting to Lepone.
Read more at Bloomberg Bonds News
from Barclays Capital and Deutsche Bank AG, boosting the high-
risk, high-yield debt trading team at the London office of the
second-largest securities firm to eight.
Robert Campbell, who formerly ran loan trading at Barclays
Capital, will join as an executive director in August, said
Robert Lepone, head of European distressed and leveraged credit
trading at Morgan Stanley. Andrew Jarman joins as an associate
from Deutsche Bank. Both will trade high-yield loans, bonds and
derivatives, reporting to Lepone.
Read more at Bloomberg Bonds News
Dollar Falls Versus Euro as Home Sales Rate in the U.S. Declines in April
(Bloomberg) -- The dollar fell the most in more than
a week versus the euro after a private report showed purchases of
existing homes in the U.S. declined during April compared with
the prior month.
Sales decreased 2.6 percent to an annual pace of 5.99
million last month, from a revised 6.15 million rate in March,
according to the National Association of Realtors.
Read more at Bloomberg Currencies News
a week versus the euro after a private report showed purchases of
existing homes in the U.S. declined during April compared with
the prior month.
Sales decreased 2.6 percent to an annual pace of 5.99
million last month, from a revised 6.15 million rate in March,
according to the National Association of Realtors.
Read more at Bloomberg Currencies News
Copper bounces but prospects seen weak
(Reuters) - Copper prices bounced on Friday helped by a fall in inventories, but analysts think the overall trend of rising stocks is intact and that lower demand over coming months could pressure prices down further.
Copper for three-month delivery on the London Metal Exchange was bid up at $7,119 a tonne in the official rings from $7,000 on Thursday, when it fell to an eight-week low of $6,952.
Read more at Reuters Africa
Copper for three-month delivery on the London Metal Exchange was bid up at $7,119 a tonne in the official rings from $7,000 on Thursday, when it fell to an eight-week low of $6,952.
Read more at Reuters Africa
FTSE lower by midday on US rate worries
(Reuters) - Britain's benchmark share index fell on Friday, ahead of a long weekend break, amid a retreat in global stock markets on U.S. interest rate fears, and as heavyweight oil stocks weighed.
At 1130 GMT, the FTSE was down 0.12 percent at 6,556.9, having recovered from a low of 6,532.5 points earlier in the day as U.S. stocks looked to be driven higher by merger and acquisition activity.
Read more at Reuters Africa
At 1130 GMT, the FTSE was down 0.12 percent at 6,556.9, having recovered from a low of 6,532.5 points earlier in the day as U.S. stocks looked to be driven higher by merger and acquisition activity.
Read more at Reuters Africa
SEC opens probe after Dow Chemical firings: source
(Reuters) - The Midland, Michigan-based company accused Romeo Kreinberg, head of its specialty businesses and Pedro Reinhard, a senior adviser and board member, of engaging in a "business activity that was highly inappropriate."
The company had earlier this year been the subject of numerous leveraged buyout rumors.
Read more at Reuters.com Mergers News
The company had earlier this year been the subject of numerous leveraged buyout rumors.
Read more at Reuters.com Mergers News
Mafia Extortion Drives Palermo Shops to Unite in Fight Against Mobsters
(Bloomberg) -- Giorgio Scimeca, owner of a pub and
sandwich shop outside Palermo, Sicily, says he's proud of having
stood up to the Mafia, even though he's paying a high price.
Three years ago, Scimeca brought charges against an
extortionist who threatened to blow up his bar if he didn't hand
over 500 euros ($672). The man was convicted and spent 1 1/2
years in jail. When he got out, he opened his own pub nearby, and
Scimeca was forced to move to another neighborhood.
Read more at Bloomberg Exclusive News
sandwich shop outside Palermo, Sicily, says he's proud of having
stood up to the Mafia, even though he's paying a high price.
Three years ago, Scimeca brought charges against an
extortionist who threatened to blow up his bar if he didn't hand
over 500 euros ($672). The man was convicted and spent 1 1/2
years in jail. When he got out, he opened his own pub nearby, and
Scimeca was forced to move to another neighborhood.
Read more at Bloomberg Exclusive News
Coca-Cola Will Buy Maker of Glaceau Vitaminwater for $4.1 Billion in Cash
(Bloomberg) -- Coca-Cola Co., the world's biggest
soda maker, agreed to buy the maker of Glaceau Vitaminwater and
Smartwater for $4.1 billion as it tries to narrow the gap with
PepsiCo Inc. in sales of noncarbonated drinks.
Coca-Cola will pay cash for closely held Energy Brands
Inc., which controls about 30 percent of the U.S. market for
flavored water. The transaction will probably add to Coca-Cola's
per-share earnings in the first full year after completion, the
Atlanta-based company said today in a Business Wire statement.
Read more at Bloomberg Stocks News
soda maker, agreed to buy the maker of Glaceau Vitaminwater and
Smartwater for $4.1 billion as it tries to narrow the gap with
PepsiCo Inc. in sales of noncarbonated drinks.
Coca-Cola will pay cash for closely held Energy Brands
Inc., which controls about 30 percent of the U.S. market for
flavored water. The transaction will probably add to Coca-Cola's
per-share earnings in the first full year after completion, the
Atlanta-based company said today in a Business Wire statement.
Read more at Bloomberg Stocks News
Wheat Futures Climb in Paris on Stockpile Forecast and Drought in Ukraine
(Bloomberg) -- French wheat futures rose for a fifth
consecutive day after the International Grains Council forecast
the lowest global stockpiles in a quarter of a century and
Ukraine warned that drought was killing its crops.
The London-based IGC cut its forecast yesterday for global
wheat stockpiles in the year ending in June 2008 by 2 million
metric tons to 115 million tons, the lowest since 1981. Ukraine's
agriculture ministry said today that 400,000 hectares of crops
were already destroyed by drought.
Read more at Bloomberg Commodities News
consecutive day after the International Grains Council forecast
the lowest global stockpiles in a quarter of a century and
Ukraine warned that drought was killing its crops.
The London-based IGC cut its forecast yesterday for global
wheat stockpiles in the year ending in June 2008 by 2 million
metric tons to 115 million tons, the lowest since 1981. Ukraine's
agriculture ministry said today that 400,000 hectares of crops
were already destroyed by drought.
Read more at Bloomberg Commodities News
IMF Warns Russia Against Moves to Rapidly Accelerate Government Spending
(Bloomberg) -- The International Monetary Fund warned
about accelerating Russian government spending and raised
questions about whether it will administer the money effectively.
Russia plans to spend ``most of the oil windfall in the
next couple of years,'' Poul Thomsen, head of the IMF in Russia,
told reporters in Moscow today. ``The government must ask itself
whether it's wise to spend this oil wealth so quickly.''
Read more at Bloomberg Emerging Markets News
about accelerating Russian government spending and raised
questions about whether it will administer the money effectively.
Russia plans to spend ``most of the oil windfall in the
next couple of years,'' Poul Thomsen, head of the IMF in Russia,
told reporters in Moscow today. ``The government must ask itself
whether it's wise to spend this oil wealth so quickly.''
Read more at Bloomberg Emerging Markets News
TOC says opposed to DaVinci's takeover offer
(Reuters) - The bid, worth 77 billion yen , started on
Monday and will end on July 18.
Read more at Reuters.com Mergers News
Monday and will end on July 18.
Read more at Reuters.com Mergers News
UPDATE 1-Siemens expects big SEC fine in bribery case-paper
(Reuters) - It has not set aside any provisions to handle this and in
the worst case could also face U.S. sanctions, including
exclusion from bidding for certain contracts, he told the
Sueddeutsche Zeitung in an interview to be published on
Saturday.
"We are doing our utmost to avoid sanctions," he said,
adding that Siemens would show by painstakingly correct
behaviour that it would no longer tolerate any shady dealings.
Read more at Reuters.com Mergers News
the worst case could also face U.S. sanctions, including
exclusion from bidding for certain contracts, he told the
Sueddeutsche Zeitung in an interview to be published on
Saturday.
"We are doing our utmost to avoid sanctions," he said,
adding that Siemens would show by painstakingly correct
behaviour that it would no longer tolerate any shady dealings.
Read more at Reuters.com Mergers News
Fire guts Mozambique agriculture ministry
(Reuters) - Fire on Friday destroyed some offices of Mozambique's agriculture ministry which oversees more than 30 percent of the southern African nation's economy.
The fire began in the early hours at the building in the capital Maputo and spread quickly due to the presence of flammable material and a shortage of water.
Read more at Reuters Africa
The fire began in the early hours at the building in the capital Maputo and spread quickly due to the presence of flammable material and a shortage of water.
Read more at Reuters Africa
U.K. Natural Gas Rises on Forecasts of Cooler Temperatures in Coming Days
(Bloomberg) -- U.K. natural-gas prices rose after
weather forecasters predicted temperatures may cool, potentially
boosting demand for heating in homes and offices.
Gas for delivery a day-ahead at the National Balancing
Point, the U.K. trading hub, rose 4.1 percent to 25.6 pence a
therm as of 8:27 a.m. in London, according to broker ICAP Plc.
That equals $5.08 per million British thermal units. A therm is
100,000 Btus. Day-ahead contracts concluded on Friday are for
delivery the following Monday.
Read more at Bloomberg Energy News
weather forecasters predicted temperatures may cool, potentially
boosting demand for heating in homes and offices.
Gas for delivery a day-ahead at the National Balancing
Point, the U.K. trading hub, rose 4.1 percent to 25.6 pence a
therm as of 8:27 a.m. in London, according to broker ICAP Plc.
That equals $5.08 per million British thermal units. A therm is
100,000 Btus. Day-ahead contracts concluded on Friday are for
delivery the following Monday.
Read more at Bloomberg Energy News
European Stocks Drop, Led by Anglo American, Rio; OMX Surges on Takeover
(Bloomberg) -- European stocks dropped for a second
day, paced by mining companies, after copper in Shanghai fell the
most in a week and gold traded near a two-month low.
Anglo American Plc, the world's second-biggest mining
company, and Rio Tinto Plc, the third largest, declined. OMX AB
had the biggest rally in more than four years after Nasdaq Stock
Market Inc. agreed to buy Europe's fifth-largest equity market.
Read more at Bloomberg Stocks News
day, paced by mining companies, after copper in Shanghai fell the
most in a week and gold traded near a two-month low.
Anglo American Plc, the world's second-biggest mining
company, and Rio Tinto Plc, the third largest, declined. OMX AB
had the biggest rally in more than four years after Nasdaq Stock
Market Inc. agreed to buy Europe's fifth-largest equity market.
Read more at Bloomberg Stocks News
FTSE joins global stocks descent, commodities weigh
(Reuters) - Britain's benchmark share index fell on Friday, dragged down by commodity shares and as global stock markets retreated amid a climate of concern over the health of the U.S. and Chinese economies.
Oil stocks weighed, with BP off 0.6 percent and Royal Dutch Shell also falling, despite oil rising over $71 on Friday on supply worries in Nigeria and tensions in Iran.
Read more at Reuters Africa
Oil stocks weighed, with BP off 0.6 percent and Royal Dutch Shell also falling, despite oil rising over $71 on Friday on supply worries in Nigeria and tensions in Iran.
Read more at Reuters Africa
Wall Street closes sharply lower on rate worries
(Reuters) - U.S. stocks fell on Thursday, as interest-rate concerns spurred investors to lock in profits from the market's spring rally.
News that sales of new homes climbed at their fastest pace in 14 years signaled a slowdown in housing may have bottomed out, but it also put the Fed's cut in official rates further out on the horizon. A steady rise in bond yields has investors worried about higher borrowing costs.
Read more at Reuters Africa
News that sales of new homes climbed at their fastest pace in 14 years signaled a slowdown in housing may have bottomed out, but it also put the Fed's cut in official rates further out on the horizon. A steady rise in bond yields has investors worried about higher borrowing costs.
Read more at Reuters Africa
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