(Bloomberg) -- PT Arpeni Pratama Ocean Line, Indonesia's largest coal transporter, plans to spend as much as $350 million to buy ships, as construction of power plants boosts demand for the fuel in Southeast Asia's largest economy.
Arpeni plans to buy eight of the so-called Panamax class vessels by 2009 to double the number it currently owns, Oentoro Surya, president director of the Jakarta, Indonesia-based company, said in an interview. Arpeni may fund the purchase with bank loans and proceeds of last year's $160 million share sale, Surya said April 26.
Read more at Bloomberg Emerging Markets News
Monday, April 30, 2007
Indonesian Government Bonds Are Little Changed Ahead of Inflation Report
(Bloomberg) -- Indonesian 10-year bonds and the rupiah were little changed before the release of an inflation report and results of a government debt swap.
The Central Statistics Bureau will announce inflation figures for April at about 1:30 p.m. local time. The finance ministry will today swap treasury bonds maturing in 2008 to 2012 with debt maturing in July 2022.
Read more at Bloomberg Bonds News
The Central Statistics Bureau will announce inflation figures for April at about 1:30 p.m. local time. The finance ministry will today swap treasury bonds maturing in 2008 to 2012 with debt maturing in July 2022.
Read more at Bloomberg Bonds News
U.K. Pound May Gain on Expectations Higher Rates Needed to Curb Inflation
(Bloomberg) -- The U.K. pound may gain on expectations the Bank of England will have to keep raising interest rates to curb above-target inflation.
The currency snapped a four-day losing streak against the euro yesterday as a report showed inflation will exceed the Bank of England's target for another year. The pound also rose as a separate report showed consumer confidence in Europe's second- largest economy gained this month.
Read more at Bloomberg Currencies News
The currency snapped a four-day losing streak against the euro yesterday as a report showed inflation will exceed the Bank of England's target for another year. The pound also rose as a separate report showed consumer confidence in Europe's second- largest economy gained this month.
Read more at Bloomberg Currencies News
Emaar, Du, Dubai Islamic, Shuaa, Union Properties: Gulf Equity Preview
(Bloomberg) -- The following stocks may rise or fall in the Persian Gulf monarchies today. Stock symbols are in parentheses and prices are from yesterday's close.
The Morgan Stanley Capital International GCC Countries Index added 0.7 percent to 563.48. Saudi Arabia's Tadawul advanced 0.7 percent. Kuwait's benchmark was little changed, gaining less than 0.1 percent, while in the United Arab Emirates Dubai's main index added 0.4 percent.
Read more at Bloomberg Stocks News
The Morgan Stanley Capital International GCC Countries Index added 0.7 percent to 563.48. Saudi Arabia's Tadawul advanced 0.7 percent. Kuwait's benchmark was little changed, gaining less than 0.1 percent, while in the United Arab Emirates Dubai's main index added 0.4 percent.
Read more at Bloomberg Stocks News
TPG eyes selling stake to pension funds -WSJ
(Reuters) - In addition to selling a stake, TPG is considering packaging some of its existing fund investments in a new public company, the paper reported.
TPG could not immediately be reached for comment.
Read more at Reuters.com Mergers News
TPG could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Indonesia's Stock Index Little Changed; United Tractors Falls, Timah Rises
(Bloomberg) -- Indonesia's key stock index was little changed. PT United Tractors and PT Global Mediacom fell after reporting first-quarter earnings declined. PT Timah and PT Bumi Resources climbed after saying profit surged.
The Jakarta Composite index lost 1.17, or 0.1 percent, to 1997.99 as of 10:46 a.m. local time. About three stocks rose for every two that fell.
Read more at Bloomberg Stocks News
The Jakarta Composite index lost 1.17, or 0.1 percent, to 1997.99 as of 10:46 a.m. local time. About three stocks rose for every two that fell.
Read more at Bloomberg Stocks News
Corn Rises in Chicago as U.S. Plantings Lag Behind Year Ago; Soybeans Fall
(Bloomberg) -- Corn futures rose in Chicago, reversing a three-day slump, after a report showed corn plantings this year lagged behind the five-year average.
About 23 percent of this year's U.S. corn crop was planted in the top 18 producing states, compared with 48 percent at the same time a year earlier, a U.S. Department of Agriculture report said yesterday. The delay, which also means farmers may increase soybean planting, pushed soybean prices lower.
Read more at Bloomberg Commodities News
About 23 percent of this year's U.S. corn crop was planted in the top 18 producing states, compared with 48 percent at the same time a year earlier, a U.S. Department of Agriculture report said yesterday. The delay, which also means farmers may increase soybean planting, pushed soybean prices lower.
Read more at Bloomberg Commodities News
Group accuses Wal-Mart of illegal anti-union tactics
(Reuters) - Wal-Mart, the largest private employer in the United States, has also refused to bargain collectively, fired employees it knows to be pro-union and focused security cameras on areas where union organizing is heaviest, according to the report.
Wal-Mart employs more than 1.3 million workers nationwide, none of which is in a union.
Read more at Reuters.com Business News
Wal-Mart employs more than 1.3 million workers nationwide, none of which is in a union.
Read more at Reuters.com Business News
UPDATE 5-Baffled by rate hike, Mexico govt cuts GDP forecast
(Reuters) - MEXICO CITY, April 30 - A surprise central bank interest rate hike just as Mexican inflation seemed to be easing has baffled even the government, which cut its economic growth estimate for the year to 3.3 percent on Monday.
Finance Minister Agustin Carstens told reporters on a trip to Ottawa that the central bank had jumped the gun on Friday by raising its overnight interest rate by 25 basis points in what it called a preemptive move against inflation.
Read more at Reuters.com Bonds News
Finance Minister Agustin Carstens told reporters on a trip to Ottawa that the central bank had jumped the gun on Friday by raising its overnight interest rate by 25 basis points in what it called a preemptive move against inflation.
Read more at Reuters.com Bonds News
Australian Oil Stocks Advance, Led by Santos; CSL, James Hardie Decline
(Bloomberg) -- Australian oil stocks rose, led by Santos Ltd. after the company said a state government will review its 15 percent limit on individual shareholdings in the company, potentially opening it to a takeover bid.
Companies that rely on global growth, such as CSL Ltd. and James Hardie Industries NV, fell after U.S. consumer spending slowed in March and construction spending eased.
Read more at Bloomberg Stocks News
Companies that rely on global growth, such as CSL Ltd. and James Hardie Industries NV, fell after U.S. consumer spending slowed in March and construction spending eased.
Read more at Bloomberg Stocks News
Former Asda chief eyes bid for CDR's Brakes--paper
(Reuters) - Comments were not immediately available from Norman, CVC or Cinven.
People familiar with the matter told Reuters in November that private equity firm Clayton Dubilier Rice was mulling the sale of its Brakes business in the second half of 2007 as it seeks to realise returns from older investments. The buyout firm bought the business in 2002 for 434 million pounds.
Read more at Reuters.com Mergers News
People familiar with the matter told Reuters in November that private equity firm Clayton Dubilier Rice was mulling the sale of its Brakes business in the second half of 2007 as it seeks to realise returns from older investments. The buyout firm bought the business in 2002 for 434 million pounds.
Read more at Reuters.com Mergers News
UPDATE 1-FMC Corp.'s first-quarter earnings climb
(Reuters) - The Philadelphia-based company posted quarterly net income of $45.8 million, or $1.17 a share, compared with $37.7 million, or 95 cents a share, in the year-ago period.
Excluding restructuring and other items, the company earned $1.83 per diluted share in the quarter, while revenue rose 13 percent to $674.1 million, FMC said.
Read more at Reuters.com Market News
Excluding restructuring and other items, the company earned $1.83 per diluted share in the quarter, while revenue rose 13 percent to $674.1 million, FMC said.
Read more at Reuters.com Market News
American Financial first-quarter profit rises
(Reuters) - The Cincinnati-based company posted first-quarter net earnings of $113.6 million, or 92 cents a share, compared with $101.5 million, or 85 cents a share in the year-ago quarter.
Core net operating earnings, which exclude items, rose 29 percent to 91 cents a share.
Read more at Reuters.com Market News
Core net operating earnings, which exclude items, rose 29 percent to 91 cents a share.
Read more at Reuters.com Market News
Dow Average May Advance 19 Percent in 2007, Barton Biggs of Traxis Says
(Bloomberg) -- Barton Biggs, managing partner of Traxis Partners LLC, said the Dow Jones Industrial Average may rise as much as 19 percent this year and argued that shares of the largest U.S. companies are ``very cheap'' relative to other asset classes.
``Markets in general are going higher, but I think large caps in particular -- particularly in the U.S. -- are going to do even better than the S&P 500 or a broader index of the market,'' said Biggs, 74, a former Morgan Stanley strategist who left to run the $1.84 billion hedge fund four years ago. Biggs spoke during an interview in New York.
Read more at Bloomberg Stocks News
``Markets in general are going higher, but I think large caps in particular -- particularly in the U.S. -- are going to do even better than the S&P 500 or a broader index of the market,'' said Biggs, 74, a former Morgan Stanley strategist who left to run the $1.84 billion hedge fund four years ago. Biggs spoke during an interview in New York.
Read more at Bloomberg Stocks News
Telecom Italia deal disappoints small investors
(Reuters) - By Mathias Wildt
MILAN, April 30 - Shares of Telecom Italia and Pirelli fell on Monday after Pirelli sold control of Italy's largest phone group to Italian investors and Spain's Telefonica at a premium to market prices -- but no offer to the public.
Read more at Reuters.com Bonds News
MILAN, April 30 - Shares of Telecom Italia and Pirelli fell on Monday after Pirelli sold control of Italy's largest phone group to Italian investors and Spain's Telefonica at a premium to market prices -- but no offer to the public.
Read more at Reuters.com Bonds News
U.S. Stocks Fall on Slowing Economy Concern; Target, Retailers Lead Drop
(Bloomberg) -- The U.S. stock market posted its third straight decline after slower growth in personal spending revived concern the economic expansion may falter and mitigated the best monthly advance since 2003.
Target Corp. and Home Depot Inc. led retailers to their steepest retreat in six weeks after the government's March data cast doubt over the consumer's ability to keep driving the economy. Hilton Hotels Corp. slumped the most in two months after predicting full-year profit will trail analysts' estimates.
Read more at Bloomberg Stocks News
Target Corp. and Home Depot Inc. led retailers to their steepest retreat in six weeks after the government's March data cast doubt over the consumer's ability to keep driving the economy. Hilton Hotels Corp. slumped the most in two months after predicting full-year profit will trail analysts' estimates.
Read more at Bloomberg Stocks News
US STOCKS-Indexes slip as investors sell off April's stars
(Reuters) - NEW YORK, April 30 - U.S. stocks slipped late in the session on Monday, as investors sought to secure profits from some of April's biggest gainers, as the best month for stocks in three years drew to a close.
Both the S&P and Nasdaq Composite were up almost 5 percent in April. The Dow is up more than 6 percent for the month, having extended gains after topping the 13,000 mark for the first time last Wednesday.
Read more at Reuters.com Bonds News
Both the S&P and Nasdaq Composite were up almost 5 percent in April. The Dow is up more than 6 percent for the month, having extended gains after topping the 13,000 mark for the first time last Wednesday.
Read more at Reuters.com Bonds News
Edison Mission Energy to sell $2.7 bln debt in 3 parts
(Reuters) - It also includes a 12-year senior note issue expected to yield between 0.125 and 0.25 percentage point over the 10-year notes and a 20-year senior note issue expected to yield about 7.625 percent.
The joint lead managers on the sale are Citigroup Global Markets, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Lehman Brothers and Merrill Lynch.
Read more at Reuters.com Bonds News
The joint lead managers on the sale are Citigroup Global Markets, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Lehman Brothers and Merrill Lynch.
Read more at Reuters.com Bonds News
Oil Is Steady Amid Concern U.S. Summer Gasoline Supply May Be Insufficient
(Bloomberg) -- Crude oil was little changed amid concern that gasoline supplies may be insufficient this summer after refineries shut units over the weekend.
Exxon Mobil Corp., Citgo Petroleum Corp. and Gary-Williams Energy Co. cut output at refineries in Texas and Oklahoma since April 27. Refiners are finishing maintenance and starting to maximize gasoline output as they prepare for the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
Read more at Bloomberg Energy News
Exxon Mobil Corp., Citgo Petroleum Corp. and Gary-Williams Energy Co. cut output at refineries in Texas and Oklahoma since April 27. Refiners are finishing maintenance and starting to maximize gasoline output as they prepare for the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
Read more at Bloomberg Energy News
UPDATE 1-Brazil should keep opening economy - Meirelles
(Reuters) - NEW YORK, April 30 - Brazil should keep opening its economy to trade and capital flows despite a recent decision to raise some import tariffs, central bank president Henrique Meirelles said on Monday.
"It's normal that Brazil tries, on one hand, to defend more vulnerable sectors from external competition as it is important that, on the other hand, we maintain a general level of openness," Meirelles told journalists after a presentation to investors in New York.
Read more at Reuters.com Bonds News
"It's normal that Brazil tries, on one hand, to defend more vulnerable sectors from external competition as it is important that, on the other hand, we maintain a general level of openness," Meirelles told journalists after a presentation to investors in New York.
Read more at Reuters.com Bonds News
Highland Financial, Buyer of Riskiest CDO Parts, Plans Initial Share Sale
(Bloomberg) -- Highland Financial Partners LP, a money manager that specializes in owning in the riskiest portions of structured debt securities, filed for an initial public offering of shares.
Highland Financial Partners mainly earns income by owning collateralized debt obligations managed by its Highland Capital Management LP affiliate, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas. Highland Financial is a holding company set up last year by Highland Capital.
Read more at Bloomberg Bonds News
Highland Financial Partners mainly earns income by owning collateralized debt obligations managed by its Highland Capital Management LP affiliate, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas. Highland Financial is a holding company set up last year by Highland Capital.
Read more at Bloomberg Bonds News
FirstCity Fin'l gets extension for annual report
(Reuters) - According to its third-quarter 2006 report, FirstCity had $213.5 million of assets as of Sept. 30 and one major reportable business: the acquisition of loans, real estate and other assets at a discount, with an intent to maximize their cash value. Quarterly revenue totaled $8.19 million, the report said.
FirstCity shares fell 12 cents, or 1.2 percent, to $9.63 in afternoon trading on the Nasdaq. Volume totaled 1,800 shares.
Read more at Reuters.com Bonds News
FirstCity shares fell 12 cents, or 1.2 percent, to $9.63 in afternoon trading on the Nasdaq. Volume totaled 1,800 shares.
Read more at Reuters.com Bonds News
Treasuries Gain Most in Two Weeks Amid Stability in Inflation During March
(Bloomberg) -- U.S. Treasuries rose the most in almost two weeks after the measure of inflation favored by Federal Reserve policy makers showed consumer prices excluding food and energy were stable in March.
The larger-than-forecast decline in inflation, as measured by the core personal consumption expenditures price index, bolstered the view that the Fed may cut interest rates this year after raising them 17 times between 2004 and 2006. Treasuries held their gains after an industry report showed business activity slowed more than forecast this month.
Read more at Bloomberg Bonds News
The larger-than-forecast decline in inflation, as measured by the core personal consumption expenditures price index, bolstered the view that the Fed may cut interest rates this year after raising them 17 times between 2004 and 2006. Treasuries held their gains after an industry report showed business activity slowed more than forecast this month.
Read more at Bloomberg Bonds News
UPDATE 2-Linamar mulls purchase of Ford Mexican unit
(Reuters) - The companies said the transaction is subject to due diligence, negotiation and approval of business terms.
No financial terms were disclosed.
Read more at Reuters.com Bonds News
No financial terms were disclosed.
Read more at Reuters.com Bonds News
UPDATE 1-Carstens says Mexico to trim GDP growth forecast
(Reuters) - "Probably today we will issue our quarterly report and there we are going to reduce our forecast," Carstens told reporters in Ottawa after a meeting with Canadian Finance Minister Jim Flaherty.
"If I'm right, we will reduce it from 3.6 percent to 3.3 percent," he said, citing a sharper than expected slowdown in the United States.
Read more at Reuters.com Bonds News
"If I'm right, we will reduce it from 3.6 percent to 3.3 percent," he said, citing a sharper than expected slowdown in the United States.
Read more at Reuters.com Bonds News
Blue chips rise, Dow sets another record
(Reuters) - The Dow Jones industrial average rose to a record for the fourth straight session on Monday on optimism about corporate profits and easing inflation concerns.
With the market already set for its best monthly performance in more than three years, some investors opted to lock in profits, keeping both the S&P and the Nasdaq little changed.
Read more at Reuters Africa
With the market already set for its best monthly performance in more than three years, some investors opted to lock in profits, keeping both the S&P and the Nasdaq little changed.
Read more at Reuters Africa
CDO Issuer Highland Financial Plans to Sell Shares in an Initial Offering
(Bloomberg) -- Highland Financial Partners LP, a holding company set up last year by investment manager Highland Capital Management LP, has filed for an initial public offering of shares.
Highland Financial mainly earns income by owning collateralized debt obligations managed by Highland Capital, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas.
Read more at Bloomberg Bonds News
Highland Financial mainly earns income by owning collateralized debt obligations managed by Highland Capital, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas.
Read more at Bloomberg Bonds News
Euro Falls From Records Versus Yen, Dollar on Surprise German Retail Drop
(Bloomberg) -- The euro fell from historic highs against the yen and dollar on speculation a sign of German economic weakness will reduce incentive for the European Central Bank to increase borrowing costs.
The European currency declined as a government report showed retail sales in Europe's largest economy unexpectedly dropped in March after a tax increase in January. Futures traders hold record bets on gains in the euro, which some traders interpret as a sign the currency is peaking. Turkey's lira fell the most in two months after the military threatened to block the ruling party's presidential candidate.
Read more at Bloomberg Currencies News
The European currency declined as a government report showed retail sales in Europe's largest economy unexpectedly dropped in March after a tax increase in January. Futures traders hold record bets on gains in the euro, which some traders interpret as a sign the currency is peaking. Turkey's lira fell the most in two months after the military threatened to block the ruling party's presidential candidate.
Read more at Bloomberg Currencies News
Peru miners strike but potential impact unclear
(Reuters) - Unionized workers at the Yanacocha gold mine, Latin America's largest, said they would not participate in the walkout for now.
Miners at Antamina, the country's largest copper producer, do not belong to the federation and have said they will not strike either.
Read more at Reuters.com Bonds News
Miners at Antamina, the country's largest copper producer, do not belong to the federation and have said they will not strike either.
Read more at Reuters.com Bonds News
Chief WTO farm mediator says US, EU must move
(Reuters) - The chief mediator in troubled World Trade Organisation (WTO) farm talks on Monday said the United States would have to offer at least another 14 percent cut in subsidies to get a deal.
The European Union, also under pressure to make concessions in the WTO negotiations, would have to improve its offer on lowering import tariffs on farm goods, another politically highly sensitive part of the agenda, New Zealand's ambassador Crawford Falconer said.
Read more at Reuters Africa
The European Union, also under pressure to make concessions in the WTO negotiations, would have to improve its offer on lowering import tariffs on farm goods, another politically highly sensitive part of the agenda, New Zealand's ambassador Crawford Falconer said.
Read more at Reuters Africa
NAPM-Milwaukee purchasing index falls in April
(Reuters) - As recently as February the index had been at 58 and riding a 45-month string of expansion.
The index of the region's blue-collar employment was steady in April at 56, while white-collar employment was down 1 point, also at 56.
Read more at Reuters.com Economic News
The index of the region's blue-collar employment was steady in April at 56, while white-collar employment was down 1 point, also at 56.
Read more at Reuters.com Economic News
Intervest to buy back up to $10 mln class A stock
(Reuters) - The dividend is payable June 15 to shareholders of record as of June 1, the financial holding company said in a statement.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
UPDATE 1-Pitney Bowes posts lower first-quarter profit
(Reuters) - Pitney, whose postage meters and document management machines, are a staple in corporate offices, posted first-quarter net income of $144.8 million, or 65 cents, compared with $153.5 million, or 67 cents a share, a year earlier.
Earnings from continuing operations were 66 cents a share. Analysts on average had expected a profit of 67 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Earnings from continuing operations were 66 cents a share. Analysts on average had expected a profit of 67 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Vishay Intertechnology quarterly profit rises
(Reuters) - For the second quarter, Vishay expects sales of $730 million to $750 million. This includes projected sales of $65 million to $70 million from the International Rectifier Power Control Systems business which it recently acquired.
Analysts on average expect revenue of $694.6 million for the second quarter.
Read more at Reuters.com Market News
Analysts on average expect revenue of $694.6 million for the second quarter.
Read more at Reuters.com Market News
UPDATE 1-Cross Match Technology files with to go public
(Reuters) - Cross Match plans to use the offering proceeds to repay debt and for working capital and other general corporate purposes, including research and development, it said in a filing with the U.S. Securities and Exchange Commission.
The filing did not reveal how many shares the company planned to sell in the offering or the expected price.
Read more at Reuters.com Government Filings News
The filing did not reveal how many shares the company planned to sell in the offering or the expected price.
Read more at Reuters.com Government Filings News
Euro Falls From Records Versus Yen, Dollar as Report Shows Retail Weakness
(Bloomberg) -- The euro fell from historic highs against the yen and dollar on concern a decline in German retail sales reduced incentive for the European Central Bank to increase borrowing costs.
``German retail numbers were horrid,'' said Boris Schlossberg, senior currency strategist in New York at DailyFX.com. ``They added to concern the ECB will stop at 4 percent unless the European consumer starts spending.
Read more at Bloomberg Currencies News
``German retail numbers were horrid,'' said Boris Schlossberg, senior currency strategist in New York at DailyFX.com. ``They added to concern the ECB will stop at 4 percent unless the European consumer starts spending.
Read more at Bloomberg Currencies News
US STOCKS-Wall St heads for flat opening; data on tap
(Reuters) - Stocks will also receive direction from a slew of data on personal income and consumption, the Federal Reserve's preferred inflation gauge, at 8:30 a.m. and the National Association of Purchasing Management-Chicago will report on Midwest business conditions at 9:45 a.m. .
"Investors are worried about how far the indexes have come and the fact that the general economic news is not that positive," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
Read more at Reuters.com Bonds News
"Investors are worried about how far the indexes have come and the fact that the general economic news is not that positive," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
Read more at Reuters.com Bonds News
Deutsche Boerse wants to buy ISE for $2.8 bln
(Reuters) - "The supervisory board of Deutsche Boerse AG, the supervisory board of SWX and the ISE Board of Directors shall decide on the transaction today," Deutsche Boerse said in a statement.
The deal would allow the Frankfurt stock exchange to expand into the fast-growing U.S. options trading market.
Read more at Reuters.com Business News
The deal would allow the Frankfurt stock exchange to expand into the fast-growing U.S. options trading market.
Read more at Reuters.com Business News
European Stocks Advance, Paced by Cable & Wireless, Skanska and Carlsberg
(Bloomberg) -- European stocks resumed an April rally on speculation takeovers will increase in the telecommunications industry and after analysts lifted their projection for construction company shares.
Cable & Wireless Plc had the largest gain in nine months after Britain's Observer newspaper reported the company might sell units. Skanska AB rallied as Deutsche Bank AG said shares of the building company should benefit from solid profit results. Carlsberg A/S rose as Dresdner Kleinwort said changes in the brewer's shareholder structure may allow it to buy rivals.
Read more at Bloomberg Stocks News
Cable & Wireless Plc had the largest gain in nine months after Britain's Observer newspaper reported the company might sell units. Skanska AB rallied as Deutsche Bank AG said shares of the building company should benefit from solid profit results. Carlsberg A/S rose as Dresdner Kleinwort said changes in the brewer's shareholder structure may allow it to buy rivals.
Read more at Bloomberg Stocks News
AstraZeneca, Shire, OAO Rosneft, JFC Group to Borrow: European Loan Alert
(Bloomberg) -- The following is a list of loans denominated in euros or pounds and expected to be syndicated in coming weeks and months.
Investment-Grade Loans
Read more at Bloomberg Bonds News
Investment-Grade Loans
Read more at Bloomberg Bonds News
Cocoa Drops to Two-Month Low in London as Ivory Coast Supply Increases
(Bloomberg) -- Cocoa dropped to a two-month low in London as consumers delayed purchases on speculation exports will increase from Ivory Coast, the world's biggest producer of the beans.
Arrivals of cocoa at Ivory Coast ports rose to 976,690 metric tons in October through April 22, from 969,757 tons a year earlier, Reuters reported today. There is a ``lack of industry buying,'' Stephanie Garner, a trader at Sucden (U.K.) Ltd. in London, said in an interview.
Read more at Bloomberg Commodities News
Arrivals of cocoa at Ivory Coast ports rose to 976,690 metric tons in October through April 22, from 969,757 tons a year earlier, Reuters reported today. There is a ``lack of industry buying,'' Stephanie Garner, a trader at Sucden (U.K.) Ltd. in London, said in an interview.
Read more at Bloomberg Commodities News
China stocks rise 2.2 pct as new listings sparkle
(Reuters) - Turnover in Shanghai A shares was very heavy at 184.1 billion yuan , up from Friday's 161.7 billion yuan.
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term.
Read more at Reuters.com Hot Stocks News
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Cemex plans euro perpetual debentures -lead
(Reuters) - The debt, to be sold via C10-EUR Capital Ltd, will be callable from June 30, 2017, the official said.
It is secured by a first-priority claim on dual-currency notes and extinguishable coupon swaps guaranteed by Cemex SAB de CV, New Sunward Holding BV and Cemex Mexico SA de CV. The structure is similar to that employed for a $750 million bond sale earlier this year, where the issuer was C8 Capital.
Read more at Reuters.com Mergers News
It is secured by a first-priority claim on dual-currency notes and extinguishable coupon swaps guaranteed by Cemex SAB de CV, New Sunward Holding BV and Cemex Mexico SA de CV. The structure is similar to that employed for a $750 million bond sale earlier this year, where the issuer was C8 Capital.
Read more at Reuters.com Mergers News
Euro zone M3 at 24-year high backs case for ECB hike
(Reuters) - Euro zone money supply growth accelerated again in March to reach a 24-year high, backing the case for further interest rate tightening.
European Central Bank figures on Monday showed annual growth in M3 money supply picked up to 10.9 percent in March, topping February's 10.0 percent and defying analysts' expectations for a decline.
Read more at Reuters Africa
European Central Bank figures on Monday showed annual growth in M3 money supply picked up to 10.9 percent in March, topping February's 10.0 percent and defying analysts' expectations for a decline.
Read more at Reuters Africa
China Stocks Rise, Completing Record Month; Angang Steel, Chalco Advance
(Bloomberg) -- China's stocks advanced to a high, completing a record month for the CSI 300 Index, after companies including Angang Steel Co. reported higher earnings and JPMorgan Chase & Co. raised its economic growth forecast for the nation.
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
European Government Bonds Gain; Stocks Drop Spurs Demand for Safer Assets
(Bloomberg) -- European 10-year government bonds advanced after a drop in Asian equity markets on global growth concerns stoked demand for fixed-income securities.
Benchmark 10-year bund yields fell from near the highest since August 2005. Stocks in Asia fell after China curbed bank lending and as data showed the U.S. economy grew less than expected. A report today showed sales at retailers in Germany unexpectedly fell in March.
Read more at Bloomberg Bonds News
Benchmark 10-year bund yields fell from near the highest since August 2005. Stocks in Asia fell after China curbed bank lending and as data showed the U.S. economy grew less than expected. A report today showed sales at retailers in Germany unexpectedly fell in March.
Read more at Bloomberg Bonds News
Ternium to take control of Grupo IMSA
(Reuters) - Ternium said the deal is expected to close in the third quarter.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Turkish Lira Plunges After Army Threatens to Block Presidential Candidate
(Bloomberg) -- Turkey's lira fell as much as 4 percent against the dollar after the military threatened to block the government's presidential candidate because of his Islamist past.
The lira was at 1.3882 to the dollar at 8:51 a.m., the start of trading in Istanbul today. The slide came after hundreds of thousands of people rallied in Istanbul yesterday to protest the candidacy of Foreign Minister Abdullah Gul, who came within 10 votes of winning the presidency in a parliamentary ballot April 27. He pledged to stand again in a second round of voting May 2.
Read more at Bloomberg Emerging Markets News
The lira was at 1.3882 to the dollar at 8:51 a.m., the start of trading in Istanbul today. The slide came after hundreds of thousands of people rallied in Istanbul yesterday to protest the candidacy of Foreign Minister Abdullah Gul, who came within 10 votes of winning the presidency in a parliamentary ballot April 27. He pledged to stand again in a second round of voting May 2.
Read more at Bloomberg Emerging Markets News
Gary-Williams Energy Says Oklahoma Refinery Is Shut After Last Week's Fire
(Bloomberg) -- Gary-Williams Energy Co.'s refinery in Wynnewood, Oklahoma, wasn't operating after a fire in two storage tanks was extinguished, a manager at the plant said.
The company may restart the facility on Tuesday, Mike Hancock, manager of administration for the refinery, said in a telephone interview. The plant was shut down April 27 about midnight because the fire was spreading to electric lines feeding the plant, he said.
Read more at Bloomberg Energy News
The company may restart the facility on Tuesday, Mike Hancock, manager of administration for the refinery, said in a telephone interview. The plant was shut down April 27 about midnight because the fire was spreading to electric lines feeding the plant, he said.
Read more at Bloomberg Energy News
Sunday, April 29, 2007
China Stocks Rise, Set for Record Month; Angang Steel, Anhui Conch Advance
(Bloomberg) -- China's stocks advanced, set to complete a record monthly gain, after Angang Steel Co. and Anhui Conch Cement Co. reported higher earnings and JPMorgan Chase & Co. raised its economic growth forecast for the nation.
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
China stock index up 1.2 pct despite reserve hike
(Reuters) - The benchmark Shanghai Composite Index .
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term. Many investors had feared a rate hike over the holiday.
Read more at Reuters.com Hot Stocks News
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term. Many investors had feared a rate hike over the holiday.
Read more at Reuters.com Hot Stocks News
Canada Outgrows China as Market of Choice for International Bond Borrowing
(Bloomberg) -- From Reykjavik to Wellington, the queue in Toronto is making Canada the fastest-growing market for international borrowers. Not even China's burgeoning bond sales can keep up with the pace of foreign debt being issued in Canadian dollars.
Canada's supremacy as the capital market of choice for companies as diverse as New Zealand's Telecom Corp. and Iceland's Kaupthing Bank hf has a lot to do with the Ottawa- based government's obsession with balanced budgets, some of the lowest interest rates available anywhere, a sinking currency against the euro and a 2-year-old law that lets pension funds own as much foreign debt as they want without a tax penalty.
Read more at Bloomberg Exclusive News
Canada's supremacy as the capital market of choice for companies as diverse as New Zealand's Telecom Corp. and Iceland's Kaupthing Bank hf has a lot to do with the Ottawa- based government's obsession with balanced budgets, some of the lowest interest rates available anywhere, a sinking currency against the euro and a 2-year-old law that lets pension funds own as much foreign debt as they want without a tax penalty.
Read more at Bloomberg Exclusive News
ABN, Air Liquide, Credit Suisse, Fiat, Siemens: European Equity Preview
(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 fell 0.6 percent to 386.10. The Dow Jones Stoxx 50 Index dropped 0.7 percent to 3850.56. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, declined 0.7 percent to 4383.13.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 fell 0.6 percent to 386.10. The Dow Jones Stoxx 50 Index dropped 0.7 percent to 3850.56. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, declined 0.7 percent to 4383.13.
Read more at Bloomberg Stocks News
Google, 4 U.S. states partner on gov't info search
(Reuters) - Google, the dominant provider of search services on the public Internet, said it has struck deals with the four states on a two-pronged approach to make state government information more accessible, both via Google and on the states' own sites.
"A lot of state agencies view their Web sites as billboards as opposed to dynamic means of two-way communications between governments and their citizens," said Darrell West, a professor of political Science at Brown University.
Read more at Reuters.com Bonds News
"A lot of state agencies view their Web sites as billboards as opposed to dynamic means of two-way communications between governments and their citizens," said Darrell West, a professor of political Science at Brown University.
Read more at Reuters.com Bonds News
U.K. Inflation Will Exceed BOE's 2 Percent Target for a Year, NIESR Says
(Bloomberg) -- U.K. inflation will exceed the 2 percent target for another year because the Bank of England cut interest rates too far in 2005, the National Institute of Economic and Social Research said.
Consumer-price inflation will average 3 percent in the three months through June, and stay above the central bank's ceiling until the second quarter of 2008, the London-based research group, whose clients include the central bank and the U.K. Treasury, said today. The forecasts assume a fourth interest-rate increase to 5.5 percent in the second half of this year.
Read more at Bloomberg Bonds News
Consumer-price inflation will average 3 percent in the three months through June, and stay above the central bank's ceiling until the second quarter of 2008, the London-based research group, whose clients include the central bank and the U.K. Treasury, said today. The forecasts assume a fourth interest-rate increase to 5.5 percent in the second half of this year.
Read more at Bloomberg Bonds News
Australian Coal Price Rises to 10-Week High on Newcastle Port Congestion
(Bloomberg) -- Export prices for power-station coal at Newcastle, Australia, the world's largest coal-export terminal, rose to a 10 week high, as producers struggle to get their fuel onto ships because of congestion at the port.
The price of thermal coal for immediate delivery from the port in New South Wales state gained 18 cents to $54.59 a metric ton in the week ended April 27 from a week ago, according to the globalCOAL NEWC Index. The price has increased from a low of $41.10 in the second week of November and in February the index reached a 29-month high.
Read more at Bloomberg Energy News
The price of thermal coal for immediate delivery from the port in New South Wales state gained 18 cents to $54.59 a metric ton in the week ended April 27 from a week ago, according to the globalCOAL NEWC Index. The price has increased from a low of $41.10 in the second week of November and in February the index reached a 29-month high.
Read more at Bloomberg Energy News
Taiwan's Dollar Falls to Six-Month Low on Yield Disadvantage; Bonds Gain
(Bloomberg) -- Taiwan's dollar weakened to the lowest in six months on speculation investors will sell the currency to buy higher-yielding assets overseas.
The currency headed for a fifth monthly loss as the island's key interest rate of 2.875 percent, the second-lowest in Asia after Japan, encouraged carry trades where investors borrow in Taiwan dollars to put money in assets abroad. In Indonesia, the benchmark rate is 6.125 percentage points higher than in Taiwan, while the U.S. rate is 2.375 points more.
Read more at Bloomberg Currencies News
The currency headed for a fifth monthly loss as the island's key interest rate of 2.875 percent, the second-lowest in Asia after Japan, encouraged carry trades where investors borrow in Taiwan dollars to put money in assets abroad. In Indonesia, the benchmark rate is 6.125 percentage points higher than in Taiwan, while the U.S. rate is 2.375 points more.
Read more at Bloomberg Currencies News
Taiwan's Equities Fall, Paced by Taiwan Semiconductor; Hon Hai Advances
(Bloomberg) -- Taiwan stocks fell for a second day. Taiwan Semiconductor Manufacturing Co. dropped after U.S. economic growth cooled to the slowest in four years, raising concern exporters' overseas earnings will decrease.
Hon Hai Precision Industry Co., the world's largest contract electronics manufacturer, gained after it said first-quarter profit rose 49 percent from a year earlier.
Read more at Bloomberg Stocks News
Hon Hai Precision Industry Co., the world's largest contract electronics manufacturer, gained after it said first-quarter profit rose 49 percent from a year earlier.
Read more at Bloomberg Stocks News
Australia's S&P/ASX 200 Rises, Led by BHP, Woodside on Higher Oil, Copper
(Bloomberg) -- Australian shares gained, led by BHP Billiton Ltd., the world's largest mining company, after oil, copper and gold prices gained.
The S&P/ASX 200 Index climbed 35.3, or 0.6 percent, to 6186.90 at 10:44 a.m. in Sydney.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index climbed 35.3, or 0.6 percent, to 6186.90 at 10:44 a.m. in Sydney.
Read more at Bloomberg Stocks News
China, Indonesia, Korea, Philippines, Sri Lanka: Asia Local Bond Preview
(Bloomberg) -- The following events and economic reports may influence Asian local-currency bonds today. Yields are from the previous session.
China: National Bureau of Statistics' Chief Economist Yao Jingyuan said at a conference in Beijing on April 27 he's confident the government will keep inflation in check. He also said the economy wasn't overheating. China's economy grew by 11.1 percent in the first quarter, the fastest in more than a decade. China Development Bank said April 27 it will sell 20 billion yuan ($2.6 billion) of 10-year bonds on May 9.
Read more at Bloomberg Bonds News
China: National Bureau of Statistics' Chief Economist Yao Jingyuan said at a conference in Beijing on April 27 he's confident the government will keep inflation in check. He also said the economy wasn't overheating. China's economy grew by 11.1 percent in the first quarter, the fastest in more than a decade. China Development Bank said April 27 it will sell 20 billion yuan ($2.6 billion) of 10-year bonds on May 9.
Read more at Bloomberg Bonds News
South Korea's Kospi Is Little Changed; SK Networks Falls, Hyundai Gains
(Bloomberg) -- South Korea's Kospi index dropped 1.89, or 0.1 percent, to 1540.63 as of 9:02 a.m. in Seoul. The Kosdaq added 0.3 percent to 677.21.
SK Networks Co. fell and Hyundai Motor Co. rose.
Read more at Bloomberg Stocks News
SK Networks Co. fell and Hyundai Motor Co. rose.
Read more at Bloomberg Stocks News
Australia Dollar May Gain as Lending Data May Boost Rate Rise Expectations
(Bloomberg) -- The Australian dollar may gain on speculation data from the central bank will show lending to Australian consumers and businesses strengthened, boosting bets for higher interest rates.
The Reserve Bank of Australia has raised borrowing costs three times the past 12 months, helping the currency advance 9.2 percent. Strong private sector credit figures may prompt traders to increase odds the central bank will raise rates again, after they cut the chance of a tightening following lower than expected inflation figures last week.
Read more at Bloomberg Currencies News
The Reserve Bank of Australia has raised borrowing costs three times the past 12 months, helping the currency advance 9.2 percent. Strong private sector credit figures may prompt traders to increase odds the central bank will raise rates again, after they cut the chance of a tightening following lower than expected inflation figures last week.
Read more at Bloomberg Currencies News
Exxon Mobil Beaumont, Texas, Refinery Unit Is Shut Down, State Reports
(Bloomberg) -- Exxon Mobil Corp., the world's largest oil company, shut down a unit at its Beaumont, Texas, refinery, according to a report on a state-regulatory Web site.
The ``NBRU'' unit was shut because of ``hydrocarbon carry over into sewer,'' the report said. The ``event'' began early April 27 and resulted in the release of 14 pounds of benzene into the environment, the report said. A company spokesman wasn't immediately available for comment.
Read more at Bloomberg Energy News
The ``NBRU'' unit was shut because of ``hydrocarbon carry over into sewer,'' the report said. The ``event'' began early April 27 and resulted in the release of 14 pounds of benzene into the environment, the report said. A company spokesman wasn't immediately available for comment.
Read more at Bloomberg Energy News
Zloty, Peso, Won, Rand Never Looked Better to Currency Traders
(Bloomberg) -- Investments in emerging-market currencies, from the Mexican peso to the South Korean won, have never been safer.
The cost of options to protect against fluctuations in emerging-markets fell last week to a record low, a sign investors have grown more confident in the stability of developing countries, according to data compiled by JPMorgan Chase & Co.
Read more at Bloomberg Currencies News
The cost of options to protect against fluctuations in emerging-markets fell last week to a record low, a sign investors have grown more confident in the stability of developing countries, according to data compiled by JPMorgan Chase & Co.
Read more at Bloomberg Currencies News
China raises banks' required reserves again
(Reuters) - China on Sunday ordered banks for the second time this month to hold more of their deposits in reserve in an attempt to prevent credit and investment growth from causing the world's fourth-largest economy to overheat.
The People's Bank of China said big banks would have to hold 11 percent of their deposits in reserve at the central bank as from May 15, up from 10.5 percent now.
Read more at Reuters Africa
The People's Bank of China said big banks would have to hold 11 percent of their deposits in reserve at the central bank as from May 15, up from 10.5 percent now.
Read more at Reuters Africa
Saturday, April 28, 2007
UPDATE 2-Fight over Iraq war funds heads toward new phase
(Reuters) - By Caren Bohan
WASHINGTON, April 28 - A fierce political battle over a Democratic plan to pull U.S. troops from Iraq is moving toward a critical stage as President George W. Bush prepares to veto it, but talks on a new bill have quietly begun.
Read more at Reuters.com Bonds News
WASHINGTON, April 28 - A fierce political battle over a Democratic plan to pull U.S. troops from Iraq is moving toward a critical stage as President George W. Bush prepares to veto it, but talks on a new bill have quietly begun.
Read more at Reuters.com Bonds News
UPDATE 1-Fight over Iraq war funds heads toward new phase
(Reuters) - WASHINGTON, April 28 - A fierce political battle over a Democratic plan to pull U.S. troops from Iraq is moving toward a critical stage as President George W. Bush prepares to veto it, but talks on a new bill have quietly begun.
The Democratic-led Congress plans to send Bush a bill on Tuesday that gives $124 billion for the Iraq war but requires a pullout to begin by Oct. 1. The White House has said Bush will waste no time in vetoing it.
Read more at Reuters.com Bonds News
The Democratic-led Congress plans to send Bush a bill on Tuesday that gives $124 billion for the Iraq war but requires a pullout to begin by Oct. 1. The White House has said Bush will waste no time in vetoing it.
Read more at Reuters.com Bonds News
U.S. fight over Iraq war funds to enter new phase
(Reuters) - The Democratic-led Congress plans to send Bush a bill on Tuesday that gives $124 billion for the war in Iraq but requires a pullout to begin by Oct. 1. The White House has said Bush will waste no time in vetoing it and may do so the day he gets it.
Debate on the bill has been marked by escalating rhetoric, with Senate Democratic leader Harry Reid of Nevada saying Bush has already lost the war and Republicans labeling him a defeatist.
Read more at Reuters.com Bonds News
Debate on the bill has been marked by escalating rhetoric, with Senate Democratic leader Harry Reid of Nevada saying Bush has already lost the war and Republicans labeling him a defeatist.
Read more at Reuters.com Bonds News
Canada's Dollar Hits Seven-Month High on Economy, Rising Commodity Prices
(Bloomberg) -- Canada's dollar reached a seven-month high as investors pared bets that the Bank of Canada will cut interest rates this year amid a strengthening economy and rising commodity prices.
Canada's currency gained for a sixth straight week, its longest winning streak since 2004, after Statistics Canada reported yesterday that its survey of managers showed increased expectations for manufacturing production. Rising prices for commodities, accounting for 54 percent of exports, also bolstered the Canadian dollar.
Read more at Bloomberg Currencies News
Canada's currency gained for a sixth straight week, its longest winning streak since 2004, after Statistics Canada reported yesterday that its survey of managers showed increased expectations for manufacturing production. Rising prices for commodities, accounting for 54 percent of exports, also bolstered the Canadian dollar.
Read more at Bloomberg Currencies News
RBS group threatens hostile offer, ABN opens books
(Reuters) - Three banks led by Royal Bank of Scotland threatened to launch a hostile bid for ABN AMRO in a sign of their growing resolve to elbow aside rival Barclays to secure the world's biggest banking takeover.
In response, ABN lifted a contentious "standstill" condition attached to opening its books to the group, saying it was "committed to exploring the consortium's proposal in a constructive manner."
Read more at Reuters Africa
In response, ABN lifted a contentious "standstill" condition attached to opening its books to the group, saying it was "committed to exploring the consortium's proposal in a constructive manner."
Read more at Reuters Africa
Friday, April 27, 2007
U.S. can't alter 'dolphin-safe' tuna rules -court
(Reuters) - The decision by the 9th U.S. Circuit Court of Appeals was the latest in a long dispute on what tuna sold in the United States can be labeled "dolphin safe" -- a designation that means tuna is fished using practices that protect dolphins.
Previous such decisions angered Mexican and South American fishing industries.
Read more at Reuters.com Business News
Previous such decisions angered Mexican and South American fishing industries.
Read more at Reuters.com Business News
1-cent option plan reduces payment deals-SEC
(Reuters) - Quoting options in one-cent increments has given investors better choices on prices and significantly narrowed bid/ask spreads, according to preliminary data, said Elizabeth King, associate director in the market regulation division at the U.S. Securities and Exchange Commission.
Options continue to be quoted in nickels and dimes and prior to the pilot, several exchanges offered programs where customers could obtain price improvements in one-cent increments.
Read more at Reuters.com Government Filings News
Options continue to be quoted in nickels and dimes and prior to the pilot, several exchanges offered programs where customers could obtain price improvements in one-cent increments.
Read more at Reuters.com Government Filings News
Countrywide CEO gets $43 mln pay, $79 mln gain
(Reuters) - Mozilo, 68, also had a $72.21 million gain from the exercise of 2,355,769 stock options, and a $6.66 million gain from the vesting of 170,002 shares.
Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, and incentives and perks. Countrywide disclosed Mozilo's pay package in a U.S. Securities and Exchange Commission filing.
Read more at Reuters.com Government Filings News
Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, and incentives and perks. Countrywide disclosed Mozilo's pay package in a U.S. Securities and Exchange Commission filing.
Read more at Reuters.com Government Filings News
RBC says inflation could force Canada rate move
(Reuters) - Lifting interest rates at a time when the United States could start cutting them would certainly boost the Canadian currency further, but the Bank of Canada may have little choice, as hikes may be needed to keep inflation around the bank's 2 percent target.
"The might... be wary of turning hawkish in the wake of the big ... selloff in USD/CAD that will pose another intense challenge to Canadian manufacturers," RBC strategist David Watt said in a note.
Read more at Reuters.com Bonds News
"The might... be wary of turning hawkish in the wake of the big ... selloff in USD/CAD that will pose another intense challenge to Canadian manufacturers," RBC strategist David Watt said in a note.
Read more at Reuters.com Bonds News
Chile's CMPC plans $250 mln investments in 2007
(Reuters) - CMPC said on Thursday its first-quarter revenue was 360.59 billion pesos, compared to 292.48 billion in the same period last year.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Baidu, Goodyear, Metabolix, Sun-Times, Synchronoss: 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 11:40 a.m. in New York.
Avid Technology Inc. (AVID US) fell $4.57, or 12 percent, to $34.09 and traded as low as $33.60. The maker of sound- and video-editing systems said it broke even in the fiscal first quarter. Seven analysts polled by Bloomberg, on average, estimated profit of 20 cents a share.
Read more at Bloomberg Stocks News
Avid Technology Inc. (AVID US) fell $4.57, or 12 percent, to $34.09 and traded as low as $33.60. The maker of sound- and video-editing systems said it broke even in the fiscal first quarter. Seven analysts polled by Bloomberg, on average, estimated profit of 20 cents a share.
Read more at Bloomberg Stocks News
GE should spin off NBC, other units: Citigroup
(Reuters) - As a stand-alone company, NBC would be better able to explore acquisitions or sell itself to a larger media company, he said.
"GE stock has basically gone sideways for five years despite solid underlying execution," Sprague said in a research report. "We believe GE's size and complexity is working against investor interest in the stock and has contributed to further valuation erosion."
Read more at Reuters.com Business News
"GE stock has basically gone sideways for five years despite solid underlying execution," Sprague said in a research report. "We believe GE's size and complexity is working against investor interest in the stock and has contributed to further valuation erosion."
Read more at Reuters.com Business News
Polish Zloty Has Longest Run of Weekly Gains in Six Years on Rate View
(Bloomberg) -- The Polish zloty had its longest run of weekly gains against the euro in almost six years on speculation the central bank will raise interest rates for a second time in three years.
The currency has risen more than 2 percent this week after the National Bank of Poland raised borrowing costs to curb inflation stoked by faster economic expansion. Central banker Dariusz Filar yesterday said the economy probably grew 7 percent in the first quarter, the quickest pace for more than a decade, prompting traders to increase bets on higher rates.
Read more at Bloomberg Currencies News
The currency has risen more than 2 percent this week after the National Bank of Poland raised borrowing costs to curb inflation stoked by faster economic expansion. Central banker Dariusz Filar yesterday said the economy probably grew 7 percent in the first quarter, the quickest pace for more than a decade, prompting traders to increase bets on higher rates.
Read more at Bloomberg Currencies News
Freddie Mac to sell $5 billion bills on Monday
(Reuters) - -- $2.5 billion of three-month bills due July 30, 2007 to be sold Monday and settle Tuesday;
-- $1.5 billion of six-month bills due Oct. 29, 2007 to be sold Monday and settle Tuesday; and.
Read more at Reuters.com Bonds News
-- $1.5 billion of six-month bills due Oct. 29, 2007 to be sold Monday and settle Tuesday; and.
Read more at Reuters.com Bonds News
U.S. Treasuries Advanced as Economic Growth Slowed in the First Quarter
(Bloomberg) -- Treasuries rose after a government report showed the world's largest economy expanded at the slowest pace in four years during the first quarter.
Gross domestic product grew at a 1.3 percent annual rate, the Commerce Department in Washington said. Gains were limited as an inflation measure watched by the Federal Reserve accelerated.
Read more at Bloomberg Bonds News
Gross domestic product grew at a 1.3 percent annual rate, the Commerce Department in Washington said. Gains were limited as an inflation measure watched by the Federal Reserve accelerated.
Read more at Bloomberg Bonds News
Oil Is Steady as Government Report Shows U.S. Economic Growth Is Slowing
(Bloomberg) -- Crude oil was little changed in New York after a government report showed that economic growth in the U.S., the biggest energy consumer, is slowing.
The U.S. economy expanded at 1.3 percent in the first quarter, the slowest pace in four years, the Commerce Department reported today in Washington. Economists expected a 1.8 percent gain in GDP last quarter, according to the median estimate of 83 forecasts in a Bloomberg News survey. The U.S. consumes 25 percent of global crude-oil production.
Read more at Bloomberg Energy News
The U.S. economy expanded at 1.3 percent in the first quarter, the slowest pace in four years, the Commerce Department reported today in Washington. Economists expected a 1.8 percent gain in GDP last quarter, according to the median estimate of 83 forecasts in a Bloomberg News survey. The U.S. consumes 25 percent of global crude-oil production.
Read more at Bloomberg Energy News
Oil Is Little Changed as Report Shows U.S. Economy Slowed in First Quarter
(Bloomberg) -- Crude oil was little changed in New York after a government report showed that economic growth in the U.S., the biggest energy consumer, is slowing.
The U.S. economy expanded at 1.3 percent in the first quarter, the slowest pace in four years, the Commerce Department reported today in Washington. Economists expected a 1.8 percent gain in GDP last quarter, according to the median estimate of 83 forecasts in a Bloomberg News survey. The U.S. consumes 25 percent of global crude-oil production.
Read more at Bloomberg Commodities News
The U.S. economy expanded at 1.3 percent in the first quarter, the slowest pace in four years, the Commerce Department reported today in Washington. Economists expected a 1.8 percent gain in GDP last quarter, according to the median estimate of 83 forecasts in a Bloomberg News survey. The U.S. consumes 25 percent of global crude-oil production.
Read more at Bloomberg Commodities News
Dendreon Short Sellers Bet Prostate Cancer Drug Won't Win U.S. Approval
(Bloomberg) -- Dendreon Corp. shares are being sold short at a record pace as some investors bet the company's experimental prostate cancer drug will fail to win approval from U.S. regulators.
About 44 percent of Dendreon shares in mid-April were borrowed stock sold short, in anticipation of being replaced at a lower price, according to Nasdaq Stock Market data compiled by Bloomberg. That's a big bet against a stock that has tripled since March 29, when advisers to the Food and Drug Administration recommended the medicine.
Read more at Bloomberg Exclusive News
About 44 percent of Dendreon shares in mid-April were borrowed stock sold short, in anticipation of being replaced at a lower price, according to Nasdaq Stock Market data compiled by Bloomberg. That's a big bet against a stock that has tripled since March 29, when advisers to the Food and Drug Administration recommended the medicine.
Read more at Bloomberg Exclusive News
Dresdner outlook now positive, was stable-S&P
(Reuters) - "The outlook revision reflects the expectation that Dresdner's stand-alone creditworthiness will strengthen as it improves its moderate financial performance in coming years through gradually rising revenues, a stable cost base, and below-average risk provisioning needs," S&P said in a statement.
However the bank's operating performance is still significantly reliant on capital market conditions and the structurally more difficult German banking market, the ratings agency added.
Read more at Reuters.com Bonds News
However the bank's operating performance is still significantly reliant on capital market conditions and the structurally more difficult German banking market, the ratings agency added.
Read more at Reuters.com Bonds News
Gauge of U.S. economy rose in latest week: ECRI
(Reuters) - The rise was due to higher stock prices, improved housing activity and lower interest rates, although the strength was offset in part by lower money supply, it group said.
The index's annualized growth rate rose to 4.0 percent from 3.6 percent the prior week.
Read more at Reuters.com Bonds News
The index's annualized growth rate rose to 4.0 percent from 3.6 percent the prior week.
Read more at Reuters.com Bonds News
UPDATE 1-Unicredit sees May sale of Polish BPH branches
(Reuters) - Unicredit, which took control of BPH last year after buying Germany's HVB, said earlier on Friday it had entered into exclusive talks with GE Money for the sale of the bank branches in Poland.
"The operational integration of the banks may take a few months, but the formal end of the sale and the signature of the contract may occur in May," said Andrea Moneta, a senior Unicredit offical in charge of Poland.
Read more at Reuters.com Mergers News
"The operational integration of the banks may take a few months, but the formal end of the sale and the signature of the contract may occur in May," said Andrea Moneta, a senior Unicredit offical in charge of Poland.
Read more at Reuters.com Mergers News
Blackstone, Cerberus Clash in Detroit as Buyout Firms Invade Auto Industry
(Bloomberg) -- The decision had been made. DaimlerChrysler AG's management in Stuttgart, Germany, weary of the struggle to keep its U.S.-based Chrysler unit in the black, was ready to sell. In March, Chrysler Chief Executive Officer Thomas LaSorda organized separate daylong briefings for prospective buyers. They continued their discussions during steak and seafood dinners at the Walter P. Chrysler Museum in Auburn Hills, Michigan -- in a gallery decorated with World War II jeeps.
LaSorda's guests weren't from Toyota Motor Corp. or General Motors Corp. They were Neil Simpkins of Blackstone Group LP and Lenard Tessler of Cerberus Capital Management LP, New York-based private equity firms that have been involved in some of the biggest leveraged buyouts of the past decade.
Read more at Bloomberg Exclusive News
LaSorda's guests weren't from Toyota Motor Corp. or General Motors Corp. They were Neil Simpkins of Blackstone Group LP and Lenard Tessler of Cerberus Capital Management LP, New York-based private equity firms that have been involved in some of the biggest leveraged buyouts of the past decade.
Read more at Bloomberg Exclusive News
U.S. April consumer sentiment at 7-month low-UMich
(Reuters) - April's final result was the lowest since 85.4 in September 2006 but was up from the 85.3 preliminary April reading. The median forecast among analysts polled by Reuters was 85.2. The 54 forecasts ranged from 84.0 to 88.8.
The survey showed increased inflation expectations among consumers, who also fretted over rising gasoline prices and troubles in the housing market. However, the stock market's recent stellar performance did cheer some.
Read more at Reuters.com Bonds News
The survey showed increased inflation expectations among consumers, who also fretted over rising gasoline prices and troubles in the housing market. However, the stock market's recent stellar performance did cheer some.
Read more at Reuters.com Bonds News
Canada's Dollar Reaches 7-Month High on Manufacturing Outlook, U.S. Growth
(Bloomberg) -- Canada's dollar approached a seven- month high, after a government survey showed factories expect increased production in the second quarter, while the U.S. reported less-than-expected growth in the first three months.
Canada's currency is headed for its sixth straight weekly gain after a quarterly survey of 3,000 managers by Statistics Canada in Ottawa showed 22 percent of manufacturers predicted higher output, a 4 percentage point rise from January.
Read more at Bloomberg Currencies News
Canada's currency is headed for its sixth straight weekly gain after a quarterly survey of 3,000 managers by Statistics Canada in Ottawa showed 22 percent of manufacturers predicted higher output, a 4 percentage point rise from January.
Read more at Bloomberg Currencies News
UPDATE 1-RSC Holdings almost doubles IPO to $575 mln
(Reuters) - The Scottsdale, Arizona-based company said Deutsche Bank Securities, Morgan Stanley and Lehman Brothers are underwriting the IPO.
The filing did not reveal how many shares the company planned to sell or the expected price of the shares.
Read more at Reuters.com Bonds News
The filing did not reveal how many shares the company planned to sell or the expected price of the shares.
Read more at Reuters.com Bonds News
Morocco plans second $1.7 bln port in Tangier
(Reuters) - Morocco plans to build a new 14 billion dirham port in Tangier to supplement another new port opening in July that will be used to capacity within eight years, government officials said on Friday.
The project was endorsed by King Mohammed at a meeting of top government officials late on Thursday, they added.
Read more at Reuters Africa
The project was endorsed by King Mohammed at a meeting of top government officials late on Thursday, they added.
Read more at Reuters Africa
UPDATE 1-Simon Property quarterly FFO up 9.3 percent
(Reuters) - Simon said first-quarter FFO rose 9.3 percent to $392.4 million, or $1.37 per share, from $358.9 million, or $1.26, a year earlier.
Analysts' average forecast was FFO of $1.30 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts' average forecast was FFO of $1.30 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Chevron's Earnings Rise 18 Percent on Asset-Sale Gain, Refining Margins
(Bloomberg) -- Chevron Corp., the second-biggest U.S. oil company, said first-quarter earnings rose 18 percent on a gain from an asset sale and wider profit margins on gasoline and diesel.
Net income rose to $4.72 billion, or $2.18 a share, from $4 billion, or $1.80, a year earlier, the San Ramon, California- based company said today in a statement. Revenue slid 12 percent to $48.2 billion on an accounting change.
Read more at Bloomberg Energy News
Net income rose to $4.72 billion, or $2.18 a share, from $4 billion, or $1.80, a year earlier, the San Ramon, California- based company said today in a statement. Revenue slid 12 percent to $48.2 billion on an accounting change.
Read more at Bloomberg Energy News
Poor U.S. growth sends dollar to record euro low
(Reuters) - Wall Street looked set for a poor start after the Commerce Department said weaker exports and a steady slide in spending on homebuilding had helped slow U.S. economic growth to its softest pace in four years.
Gross domestic product or GDP, which measures total goods and services output within U.S. borders, increased at a weaker-than-expected 1.3 percent annual rate in the three months from January through March.
Read more at Reuters.com Bonds News
Gross domestic product or GDP, which measures total goods and services output within U.S. borders, increased at a weaker-than-expected 1.3 percent annual rate in the three months from January through March.
Read more at Reuters.com Bonds News
UPDATE 1-FLIR Systems Q1 earnings more than double
(Reuters) - The thermal imaging and infra-red camera maker raised its 2007 earnings forecast to $1.58 to $1.63 a share from its earlier view of $1.48 to $1.53 a share.
It now expects 2007 revenue of $690 million to $710 million, up from its earlier forecast of $670 million to $680 million.
Read more at Reuters.com Market News
It now expects 2007 revenue of $690 million to $710 million, up from its earlier forecast of $670 million to $680 million.
Read more at Reuters.com Market News
Tyco starts buying back debt
(Reuters) - Tyco also said it expects subsidiary Tyco International Group to tender for all of its outstanding euro- and pound-denominated debt, worth about $1.9 billion, from April 30.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
UPDATE 1-CTC Media profits ahead in Q1, reiterates guidance
(Reuters) - Operating revenues gained 31.4 percent to $104.1 million and earnings before interest, taxes, depreciation and amortisation gained 20.3 percent to $44.3 million, the company said in a statement.
Net income under U.S. GAAP was up 24.1 percent to $28.1 million while diluted earnings per share gained 20 percent to 18 U.S. cents, according to unaudited results.
Read more at Reuters.com Market News
Net income under U.S. GAAP was up 24.1 percent to $28.1 million while diluted earnings per share gained 20 percent to 18 U.S. cents, according to unaudited results.
Read more at Reuters.com Market News
UPDATE 1-Lance posts Q1 profit, raises 2007 earnings range view
(Reuters) - The Charlotte, North Carolina-based company raised its 2007 earnings outlook range, while reaffirming its net sales view of $750 to $775 million for the full year..
It now expects 2007 earnings of 84 cents to 90 cents a share, up from its prior forecast range of 80 cents to 88 cents a share.
Read more at Reuters.com Market News
It now expects 2007 earnings of 84 cents to 90 cents a share, up from its prior forecast range of 80 cents to 88 cents a share.
Read more at Reuters.com Market News
J.C. Penney, Target Lead Rebound in Corporate Bond Sales as Profits Rise
(Bloomberg) -- J.C. Penney Co., the third-biggest U.S. department-store chain, and discounter Target Corp. led borrowers selling $23.8 billion of bonds this week as issuance accelerated amid gains in corporate profits.
Sales rose from $14.7 billion last week, according to data compiled by Bloomberg. J.C. Penney and Target each sold $1 billions of bonds. For Plano, Texas-based J.C. Penney, the offering was its largest in a decade.
Read more at Bloomberg Bonds News
Sales rose from $14.7 billion last week, according to data compiled by Bloomberg. J.C. Penney and Target each sold $1 billions of bonds. For Plano, Texas-based J.C. Penney, the offering was its largest in a decade.
Read more at Bloomberg Bonds News
UPDATE 1-Brookfield Properties FFO rises 25 pct
(Reuters) - Brookfield said its funds from operations were $129 million, or 48 cents a share, up from $103 million, or 44 cents a share in the same quarter of 2006.
Analysts were expecting FFO of 48 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts were expecting FFO of 48 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Indonesia Permits Import of Additional 47,050 Metric Tons of White Sugar
(Bloomberg) -- Indonesia has issued permits to import another 47,050 metric tons of white sugar to meet demand, a government official said.
That brings the total this year to 232,563 tons of the sweetener, said Alberth Yusuf Tubogu, import director at the Ministry of Trade, in an interview in Jakarta.
Read more at Bloomberg Commodities News
That brings the total this year to 232,563 tons of the sweetener, said Alberth Yusuf Tubogu, import director at the Ministry of Trade, in an interview in Jakarta.
Read more at Bloomberg Commodities News
Uganda prepares to double Nile hydropower
(Reuters) - Splashing the riverbanks with foam as they whoosh through central Uganda, the Bujagali Falls near the Nile's source are a challenge to local fishermen and thrill-seeking white-water rafters alike.
But Uganda's government has other ideas for this powerful jet of water: it wants to harness it for electricity.
Read more at Reuters Africa
But Uganda's government has other ideas for this powerful jet of water: it wants to harness it for electricity.
Read more at Reuters Africa
Copper Declines in London as Chinese Supply Increases; Lead, Nickel Gain
(Bloomberg) -- Copper was poised to snap seven consecutive weeks of gains in London on speculation that demand growth will slow due to rising supply in China, the world's largest user of the metal. Lead and nickel gained.
Stockpiles monitored by the Shanghai Futures Exchange rose to 67,820 metric tons, the highest since December 2005, according to exchange data released today. That may slow imports into the nation this quarter, said Tobias Merath, an analyst at Credit Suisse Group in Zurich.
Read more at Bloomberg Commodities News
Stockpiles monitored by the Shanghai Futures Exchange rose to 67,820 metric tons, the highest since December 2005, according to exchange data released today. That may slow imports into the nation this quarter, said Tobias Merath, an analyst at Credit Suisse Group in Zurich.
Read more at Bloomberg Commodities News
FACTBOX-Dutch rules for unsolicited approaches
(Reuters) - The regulation was translated by Reuters. It should not be viewed as an official translation.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Copper Stockpiles Drop to Lowest in Almost Five Months on London Exchange
(Bloomberg) -- Copper stockpiles monitored by the London Metal Exchange dropped to the lowest in almost five months.
Copper inventories fell 2,050 metric tons, or 1.3 percent, to 159,125 tons, the exchange said today in a report. That's the lowest since Dec. 1.
Read more at Bloomberg Commodities News
Copper inventories fell 2,050 metric tons, or 1.3 percent, to 159,125 tons, the exchange said today in a report. That's the lowest since Dec. 1.
Read more at Bloomberg Commodities News
Indian Rupee Heads for Strongest Week in 14 Months on Stocks, Higher Yield
(Bloomberg) -- India's rupee headed for its biggest weekly gain since December 2005, on optimism the nation's rising stocks and relatively high interest rates will attract increased investment from abroad.
The rupee climbed to the strongest in nine years yesterday as the benchmark stock index reached the highest in more than two months. The average daily investment in local equities by overseas funds is five times more this month than in March, as companies including Infosys Technologies Ltd. and Bharti Airtel Ltd. reported better-than-expected profits for last quarter.
Read more at Bloomberg Currencies News
The rupee climbed to the strongest in nine years yesterday as the benchmark stock index reached the highest in more than two months. The average daily investment in local equities by overseas funds is five times more this month than in March, as companies including Infosys Technologies Ltd. and Bharti Airtel Ltd. reported better-than-expected profits for last quarter.
Read more at Bloomberg Currencies News
UPDATE 1-Acer seeks M&A, expects flat Q2 sales
(Reuters) - "It will be just a small case and we will not spend too much money," Acer Chairman J.T. Wang said during a company event.
"Anything we spend will get gains very soon."
Read more at Reuters.com Market News
"Anything we spend will get gains very soon."
Read more at Reuters.com Market News
Merck and Schering, Buoyed by Medicare, May Lead Stock Advances in 2007
(Bloomberg) -- Pharmaceutical stocks are headed for their biggest annual gain since 2000 after a new U.S. drug insurance program and industrywide job cuts helped profits beat analysts' estimates.
The 14-member Standard and Poor's 500 Pharmaceuticals Index added 8.4 percent since Jan. 1, led by a 35 percent rise by Schering-Plough Corp. and a 31 percent advance by King Pharmaceuticals Inc. The eight largest U.S. drugmakers beat first-quarter earnings estimates this month and half raised their forecasts, a trend analysts say may continue through 2007.
Read more at Bloomberg Stocks News
The 14-member Standard and Poor's 500 Pharmaceuticals Index added 8.4 percent since Jan. 1, led by a 35 percent rise by Schering-Plough Corp. and a 31 percent advance by King Pharmaceuticals Inc. The eight largest U.S. drugmakers beat first-quarter earnings estimates this month and half raised their forecasts, a trend analysts say may continue through 2007.
Read more at Bloomberg Stocks News
Thursday, April 26, 2007
Areva, Nexity, Peugeot, Renault and Saint-Gobain: French Equity Preview
(Bloomberg) -- The following stocks may rise or fall on the Paris stock exchange. Symbols are in parentheses after company names. Prices are from yesterday's close.
The benchmark CAC 40 Index slipped 2.89, or 0.1 percent, to 5944.44. The broader SBF 120 Index also declined 0.1 percent.
Read more at Bloomberg Stocks News
The benchmark CAC 40 Index slipped 2.89, or 0.1 percent, to 5944.44. The broader SBF 120 Index also declined 0.1 percent.
Read more at Bloomberg Stocks News
Japan Shares Fall, Led by Canon, After Rising Inventories Signal Slowdown
(Bloomberg) -- Japanese stocks slipped, led by electronics companies such as Canon Inc. after electrical parts inventories rose for a second month, suggesting demand may be slowing for their products.
``Electronics parts inventories are a bit excessive,'' said Yoshinori Nagano, who helps oversee about $70 billion at Daiwa Asset Management Co. in Tokyo. ``The inventory numbers are an important indicator as to the economic cycle for electronics companies and when it rises that's a sign that production may be headed for a decline.''
Read more at Bloomberg Stocks News
``Electronics parts inventories are a bit excessive,'' said Yoshinori Nagano, who helps oversee about $70 billion at Daiwa Asset Management Co. in Tokyo. ``The inventory numbers are an important indicator as to the economic cycle for electronics companies and when it rises that's a sign that production may be headed for a decline.''
Read more at Bloomberg Stocks News
Australian Cattle Prices Advance, Reversing Slump, Ahead of Forecast Rain
(Bloomberg) -- Cattle prices in Australia, the world's second-largest beef exporter, rose 4.1 percent this week, ending two straight weeks of declines, on forecasts of rain for some parts of the country.
Australia's benchmark Eastern Young Cattle Indicator, which measures auction prices of cattle sold at sale yards in the east of the country, rose 12 cents, to A$3.08 ($2.54) a kilogram this week. That's the biggest weekly gain in 14 weeks.
Read more at Bloomberg Commodities News
Australia's benchmark Eastern Young Cattle Indicator, which measures auction prices of cattle sold at sale yards in the east of the country, rose 12 cents, to A$3.08 ($2.54) a kilogram this week. That's the biggest weekly gain in 14 weeks.
Read more at Bloomberg Commodities News
Philippine Three-Year Bonds Fall a Fourth Week on Deficit, Peso Declines
(Bloomberg) -- Philippine three-year local- currency bonds fell for a fourth week on concern the government will miss its budget deficit target and resort to more borrowing. The peso declined.
Three-year bonds had the biggest weekly decline in at least six weeks after the government reported its widest monthly deficit in March in more than a decade, bringing the first- quarter shortfall to 52 billion pesos ($1.1 billion) or four- fifths of the full-year goal. Bonds also dropped this week on the resignation of National Treasurer Omar Cruz.
Read more at Bloomberg Bonds News
Three-year bonds had the biggest weekly decline in at least six weeks after the government reported its widest monthly deficit in March in more than a decade, bringing the first- quarter shortfall to 52 billion pesos ($1.1 billion) or four- fifths of the full-year goal. Bonds also dropped this week on the resignation of National Treasurer Omar Cruz.
Read more at Bloomberg Bonds News
European Commodity Stocks, BHP May Decline; Business Objects May Advance
(Bloomberg) -- European basic resources stocks may decline after copper plunged to a three-week low, pacing a decline by other metals including gold.
BHP Billiton, the world's biggest mining company, and Rio Tinto Plc, the third largest, slid in Australia. Business Objects SA might track gains by technology companies after Microsoft Corp. said earnings jumped.
Read more at Bloomberg Stocks News
BHP Billiton, the world's biggest mining company, and Rio Tinto Plc, the third largest, slid in Australia. Business Objects SA might track gains by technology companies after Microsoft Corp. said earnings jumped.
Read more at Bloomberg Stocks News
Highlights-Japan economic indicators, BOJ rate decision
(Reuters) - The central bank kept its target interest rate unchanged at 0.5 percent on Friday, as widely expected by markets.
Following are key points of the economic indicators released and the Bank of Japan's policy decision.
Read more at Reuters.com Economic News
Following are key points of the economic indicators released and the Bank of Japan's policy decision.
Read more at Reuters.com Economic News
China Citic Bank Shares Double in Shanghai Debut After $5.4 Billion Sale
(Bloomberg) -- China Citic Bank Corp. shares more than doubled on their first day of trading in Shanghai after the company raised $5.4 billion in the world's biggest initial public offering this year.
The stock rose to 11.8 yuan at 1:37 p.m. in Shanghai from the offer price of 5.8 yuan, after having risen to 12.19 yuan earlier. The Hong Kong-traded shares rose 16 percent to HK$6.85.
Read more at Bloomberg Emerging Markets News
The stock rose to 11.8 yuan at 1:37 p.m. in Shanghai from the offer price of 5.8 yuan, after having risen to 12.19 yuan earlier. The Hong Kong-traded shares rose 16 percent to HK$6.85.
Read more at Bloomberg Emerging Markets News
All American, New Century, Allied, Northwest Airlines, Tower: Bankruptcy
(Bloomberg) -- All American Semiconductor Inc., a semiconductor and electronic component distributor, will appear today in the U.S. Bankruptcy Court in Miami, Florida to ask permission to sell substantially all of its assets.
All American, which doesn't have a definitive agreement with a buyer, filed its Chapter 11 petition April 25, having signed an unidentified buyer to a non-binding letter of intent for the purchase of the business for an undisclosed price.
Read more at Bloomberg Bonds News
All American, which doesn't have a definitive agreement with a buyer, filed its Chapter 11 petition April 25, having signed an unidentified buyer to a non-binding letter of intent for the purchase of the business for an undisclosed price.
Read more at Bloomberg Bonds News
Shanghai Copper Plunges Limit to Three-Week Low After U.S. Housing Data
(Bloomberg) -- Shanghai copper fell to its lowest in almost three weeks after a forecast for lower U.S. housing starts raised concern that demand may slow and Peru's government declared illegal a miners' strike planned for April 30.
Single-family housing starts will fall to 1.16 million this year, the lowest since 1.13 million in 1997, said the National Association of Home Builders, yesterday in Washington. Most of Peru's unions failed to present strike petitions within five working days of the planned walkout, as required by law, Labor Minister Susana Pinilla said in Lima yesterday.
Read more at Bloomberg Commodities News
Single-family housing starts will fall to 1.16 million this year, the lowest since 1.13 million in 1997, said the National Association of Home Builders, yesterday in Washington. Most of Peru's unions failed to present strike petitions within five working days of the planned walkout, as required by law, Labor Minister Susana Pinilla said in Lima yesterday.
Read more at Bloomberg Commodities News
Gold hits 2-week low; cautious mood before U.S. data
(Reuters) - Investec Australia pegged support at $670 and resistance at
$685.
Read more at Reuters.com Hot Stocks News
$685.
Read more at Reuters.com Hot Stocks News
South Korea's Won Set for First Weekly Fall This Month as Deficit Widens
(Bloomberg) -- South Korea's won headed for a weekly decline as a central bank official said the nation may post a current account deficit in April after the March shortfall was the widest in almost a year.
The currency faces pressure to weaken as a growing deficit indicates more money is flowing out from the nation. The gap widened on increased dividend payments to offshore investors, who owned 37 percent of shares on the Kospi equities index as of April 25. The payments usually happen in March and April, increasing demand to convert won into dollars.
Read more at Bloomberg Currencies News
The currency faces pressure to weaken as a growing deficit indicates more money is flowing out from the nation. The gap widened on increased dividend payments to offshore investors, who owned 37 percent of shares on the Kospi equities index as of April 25. The payments usually happen in March and April, increasing demand to convert won into dollars.
Read more at Bloomberg Currencies News
Clear Channel takeover may hang on proxy decision
(Reuters) - ISS, which advises fund managers and pension funds how to vote on various issues, recommended on March 29 that shareholders oppose Thomas H. Lee and Bain Capital's $36.70 a share, or $19 billion bid, tabled in November, arguing that it undervalued the company.
Last week, the bidders raised their offer to $39 and ISS has yet to give any revised opinion on whether shareholders should support the new bid or vote against it on May 8.
Read more at Reuters.com Mergers News
Last week, the bidders raised their offer to $39 and ISS has yet to give any revised opinion on whether shareholders should support the new bid or vote against it on May 8.
Read more at Reuters.com Mergers News
TV to U.S. govt: Hands off violent programs
(Reuters) - CBS Corp., News Corp. and the cable industry said such regulation would be an unconstitutional violation of free speech rights and face high legal hurdles.
"A clear majority of Americans want to choose the programming they invite into their homes, and not cede that authority to the government," CBS said in a statement.
Read more at Reuters.com Government Filings News
"A clear majority of Americans want to choose the programming they invite into their homes, and not cede that authority to the government," CBS said in a statement.
Read more at Reuters.com Government Filings News
UDPATE 1-Mexican retailer Comerci 1st-qtr net up 21 pct
(Reuters) - Comerci earned 391 million pesos in the January-March period, compared with 324 million pesos a year earlier.
Quarterly revenue rose 6 percent to 11.123 billion pesos.
Read more at Reuters.com Market News
Quarterly revenue rose 6 percent to 11.123 billion pesos.
Read more at Reuters.com Market News
CORRECTED - KLA-Tencor quarterly profit rises but stock falls
(Reuters) - KLA-Tencor said net profit for its fiscal third quarter was $154.8 million, or 76 cents per share, compared with $96.7 million, or 47 cents per share, a year earlier. Revenue rose to $716.2 million from $519.6 million a year earlier.
The company was expected to have earned $157.1 million, or 78 cents per share, excluding special items, on revenue of $709.3 million, according to the average forecast of Wall Street analysts on Reuters Estimates.
Read more at Reuters.com Market News
The company was expected to have earned $157.1 million, or 78 cents per share, excluding special items, on revenue of $709.3 million, according to the average forecast of Wall Street analysts on Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-U.S. Congress approves Iraq war withdrawal plan
(Reuters) - WASHINGTON, April 26 - In an unprecedented slap at President George W. Bush's war policy, the U.S. Congress on Thursday approved legislation that links withdrawal of combat troops to paying for the war, ensuring a certain veto.
Nonetheless, by a vote of 51-46, the Senate joined the House of Representatives in backing the hotly contested bill that would provide about $100 billion for the wars in Iraq and Afghanistan this year while setting a deadline to withdraw U.S. forces over the next 11 months.
Read more at Reuters.com Bonds News
Nonetheless, by a vote of 51-46, the Senate joined the House of Representatives in backing the hotly contested bill that would provide about $100 billion for the wars in Iraq and Afghanistan this year while setting a deadline to withdraw U.S. forces over the next 11 months.
Read more at Reuters.com Bonds News
Danone to delist from New York, cites accounts rule
(Reuters) - Danone said it was motivated by low volumes traded in New York and partly by the fact the U.S. does not recognise the international financial reporting standards that all big European companies have now adopted.
Non-U.S. companies listed in New York are still forced to publish results using U.S. GAAP, although the SEC signalled a possible softening of the rule this week.
Read more at Reuters.com Government Filings News
Non-U.S. companies listed in New York are still forced to publish results using U.S. GAAP, although the SEC signalled a possible softening of the rule this week.
Read more at Reuters.com Government Filings News
S.Africa 3-month T-bill rate up at 8.32 pct
(Reuters) - The average discount rate for South African three-month Treasury Bills crept up to 8.32 percent at Thursday's auction from 8.29 percent last week, the Reserve Bank said.
The average yield was at 8.49 percent from 8.46 percent previously. Applications for the 2.3 billion rand of bills on offer totalled 5.032 billion rand.
Read more at Reuters Africa
The average yield was at 8.49 percent from 8.46 percent previously. Applications for the 2.3 billion rand of bills on offer totalled 5.032 billion rand.
Read more at Reuters Africa
S.African authority OKs Evraz deal with conditions
(Reuters) - South Africa's Competition Tribunal has conditionally approved the merger of steelmaker Highveld with Evraz Group, Russia's top steel maker by volume, it said on Thursday.
The merger is subject to the sale of an interest in Mapochs Mine and Vanchem plants by Highveld, the tribunal said in a statement, saying its ruling was in line with the European Commission's on the transaction.
Read more at Reuters Africa
The merger is subject to the sale of an interest in Mapochs Mine and Vanchem plants by Highveld, the tribunal said in a statement, saying its ruling was in line with the European Commission's on the transaction.
Read more at Reuters Africa
US jobless claims fell 20,000 last week
(Reuters) - There were no special factors behind the drop in new claims, a Labor Department analyst told reporters.
Analysts polled by Reuters were expecting claims to ease by 9,000 to 330,000 from the previously reported 339,000 in the week ended April 14.
Read more at Reuters.com Economic News
Analysts polled by Reuters were expecting claims to ease by 9,000 to 330,000 from the previously reported 339,000 in the week ended April 14.
Read more at Reuters.com Economic News
REFILE-US STOCKS-Wall St. set to rally on earnings
(Reuters) - NEW YORK, April 26 - U.S. stock index futures rose sharply on Thursday, indicating Wall Street will sustain its rally after forecast-beating financial results from Apple Inc. and Ford Motor Co.
Strong profit reports and reassuring economic data helped pushed the Dow Jones industrial average to a close above 13,000 for the first time on Wednesday.
Read more at Reuters.com Bonds News
Strong profit reports and reassuring economic data helped pushed the Dow Jones industrial average to a close above 13,000 for the first time on Wednesday.
Read more at Reuters.com Bonds News
XM Satellite quarterly loss narrows
(Reuters) - The company posted a first-quarter loss attributable to common stockholders of $122 million, or 40 cents a share, compared with a loss of $149 million, or 60 cents a share, a year earlier.
XM said it added about 285,000 net new subscribers in the quarter, for a total of more than 7.9 million subscribers. First-quarter revenue rose 27 percent to $264 million.
Read more at Reuters.com Bonds News
XM said it added about 285,000 net new subscribers in the quarter, for a total of more than 7.9 million subscribers. First-quarter revenue rose 27 percent to $264 million.
Read more at Reuters.com Bonds News
CORRECTED - CORRECTED-Friedman Billings posts quarterly loss
(Reuters) - The investment bank and brokerage said in March that it would explore strategic options for its subprime unit, First NLC Financial Services.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
US STOCKS-Wall Street pauses after rally; Apple jumps
(Reuters) - NEW YORK, April 26 - U.S. stocks were barely changed on Thursday as investor caution after a recent milestone rally and before a major economic report offset strong earnings from companies such as Apple Inc. and Ford Motor Co. .
Strong profit reports helped push the Dow Jones industrial average to a record close above 13,000 on Wednesday and lifted the Standard & Poor's 500 index to its highest in more than six years.
Read more at Reuters.com Bonds News
Strong profit reports helped push the Dow Jones industrial average to a record close above 13,000 on Wednesday and lifted the Standard & Poor's 500 index to its highest in more than six years.
Read more at Reuters.com Bonds News
Israeli Shares Rally on Rates, Paced by Hapoalim: World's Biggest Mover
(Bloomberg) -- Israeli stocks rose for a third day after the shekel strengthened against the dollar, stoking speculation borrowing costs will fall.
Bank Hapoalim Ltd., Israel's largest lender, and Israel Chemicals Ltd., a fertilizer producer, led the advance.
Read more at Bloomberg Emerging Markets News
Bank Hapoalim Ltd., Israel's largest lender, and Israel Chemicals Ltd., a fertilizer producer, led the advance.
Read more at Bloomberg Emerging Markets News
Potash first-quarter profit jumps 58 pct
(Reuters) - The world's top fertilizer producer by market value said it earned $198 million, or $1.85 per share for the quarter ended March 31, up from $125.5 million, or $1.19 per share, a year earlier.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Acer Q1 net rises 41 pct on market share gains
(Reuters) - Acer announced a first-quarter net profit of T$5.66 billion , higher than T$4.02 billion a year earlier. The result beat market forecast of T$3.34 billion, according to eight analysts on Reuters Estimates.
Acer, Taiwan's top computer brand, made a net profit of T$1.265 billion in the fourth quarter of 2006.
Read more at Reuters.com Market News
Acer, Taiwan's top computer brand, made a net profit of T$1.265 billion in the fourth quarter of 2006.
Read more at Reuters.com Market News
UPDATE 1-Potash Corp. posts higher profit on strong demand
(Reuters) - Potash said it earned $198 million, or $1.85 per share for the quarter ended March 31, up from $125.5 million, or $1.19 per share, a year earlier.
Analysts polled by Reuters Estimates had expected earnings per share of $1.75, on average.
Read more at Reuters.com Market News
Analysts polled by Reuters Estimates had expected earnings per share of $1.75, on average.
Read more at Reuters.com Market News
Group 1 net down, hurt by asset dispositions
(Reuters) - Excluding one-time items, the company earned 82 cents per share. Analysts, on average, had expected 86 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-AEP first-quarter earnings fall
(Reuters) - Net income was $271 million, or 68 cents per share, compared with $381 million, or 97 cents per share, a year earlier.
Analysts on average had expected AEP to post 71 cents per share in the first quarter, according to data compiled by Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had expected AEP to post 71 cents per share in the first quarter, according to data compiled by Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Equitable Resources first-quarter earnings fall
(Reuters) - Net income for the first quarter fell to $56.6 million, or 46 cents per share, from $72.3 million, or 59 cents per share, a year earlier.
Revenue in the quarter rose to $456.5 million from $430.1 million last year.
Read more at Reuters.com Market News
Revenue in the quarter rose to $456.5 million from $430.1 million last year.
Read more at Reuters.com Market News
UPDATE 1-EarthLink posts quarterly net loss
(Reuters) - The first-quarter net loss was $30 million, or 24 cents per share, compared with a net profit of $16.4 million, or 12 cents per share, a year earlier.
Revenue rose 4.7 percent to $324.4 million.
Read more at Reuters.com Market News
Revenue rose 4.7 percent to $324.4 million.
Read more at Reuters.com Market News
UPDATE 1-Comcast profit rises on subscribers, one-time gain
(Reuters) - NEW YORK, April 26 - Comcast Corp. , the leading U.S. cable operator, posted on Thursday an 80 percent rise in quarterly profit, fueled by subscriber growth and a one-time gain from dissolving a partnership with Time Warner Cable Inc.
Net profit rose to $837 million, or 26 cents per share, in the first quarter, from $466 million or 15 cents per share, a year earlier. The results were boosted by a $300 million gain from the dissolution of its Texas/Kansas cable system partnership with Time Warner Cable.
Read more at Reuters.com Market News
Net profit rose to $837 million, or 26 cents per share, in the first quarter, from $466 million or 15 cents per share, a year earlier. The results were boosted by a $300 million gain from the dissolution of its Texas/Kansas cable system partnership with Time Warner Cable.
Read more at Reuters.com Market News
UPDATE 1-Jakks Pacific's first-quarter earnings rise
(Reuters) - The maker of Care Bears and Plug It In & Play TV games said first-quarter net income increased to $3.2 million, or 12 cents a share, from $2.3 million, or 9 cents a share, a year earlier.
Quarterly sales rose 15.7 percent to $124.1 million from $107.2 million a year earlier, the company said, helped by strong sales of its Pokemon toys and World Wrestling Entertainment Inc. action figures.
Read more at Reuters.com Market News
Quarterly sales rose 15.7 percent to $124.1 million from $107.2 million a year earlier, the company said, helped by strong sales of its Pokemon toys and World Wrestling Entertainment Inc. action figures.
Read more at Reuters.com Market News
Tenneco quarterly net earnings fall
(Reuters) - Revenue rose 24 percent to $1.4 billion.
Analysts, on average, expected Lake Forest, Illinois-based Tenneco to report earnings of 13 cents per share before one-time items and revenue of $1.36 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts, on average, expected Lake Forest, Illinois-based Tenneco to report earnings of 13 cents per share before one-time items and revenue of $1.36 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Silgan first-quarter profits rise
(Reuters) - Results for 2007 included a pretax rationalization charge of $1.1 million, or 2 cents per diluted share net of tax. In 2006 results included a pretax rationalization charge of $2.2 million, or 3 cents per diluted share net of tax.
The impact of 2006 acquisitions, continued focus on cost reductions, improving manufacturing efficiencies and the recovery of significant cost inflation experienced over the past year translated into significant profit improvement during the first quarter, said Tony Allott, president and chief executive.
Read more at Reuters.com Market News
The impact of 2006 acquisitions, continued focus on cost reductions, improving manufacturing efficiencies and the recovery of significant cost inflation experienced over the past year translated into significant profit improvement during the first quarter, said Tony Allott, president and chief executive.
Read more at Reuters.com Market News
Copper Rises for Second Day in London on Stocks, Strike; Zinc, Lead Gain
(Bloomberg) -- Copper rose for a second consecutive day in London as stockpiles of the metal fell to a four-month low, adding to speculation about supply problems as smelter workers in Peru threaten to strike.
Stockpiles monitored by the London Metal Exchange fell for an eight consecutive day and to their lowest since Dec. 7. Workers from Southern Copper Corp.'s Ilo smelter will strike over wages as soon as April 28. The Phoenix-based company is the world's fifth-largest copper producer.
Read more at Bloomberg Commodities News
Stockpiles monitored by the London Metal Exchange fell for an eight consecutive day and to their lowest since Dec. 7. Workers from Southern Copper Corp.'s Ilo smelter will strike over wages as soon as April 28. The Phoenix-based company is the world's fifth-largest copper producer.
Read more at Bloomberg Commodities News
3M posts higher quarterly profit
(Reuters) - The latest results included a gain of 57 cents a share from the sale of the company's branded drug business in Europe.
Analysts on average had expected a profit of $1.12 a share before one-time items, according to Reuters Estimates.
Read more at Reuters.com Business News
Analysts on average had expected a profit of $1.12 a share before one-time items, according to Reuters Estimates.
Read more at Reuters.com Business News
VMware files for $100 million IPO
(Reuters) - VMware has not decided whether to list its Class A stock on the Nasdaq or the New York Stock Exchange, according to the filing.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Kenya shilling unchanged vs dollar in quiet trade
(Reuters) - The Kenya shilling was flat against the U.S. dollar in slow trade on Thursday and dealers predicted it would remain rangebound in coming days.
At 1030 GMT, commercial banks quoted the local currency at 68.25/35 to the greenback, same as Wednesday's close.
Read more at Reuters Africa
At 1030 GMT, commercial banks quoted the local currency at 68.25/35 to the greenback, same as Wednesday's close.
Read more at Reuters Africa
BBA Aviation says trading showing good progress
(Reuters) - "BBA Aviation today announces that it has reached a definitive agreement to acquire 100 percent of the capital stock of Executive Beechcraft, Inc."
It said the U.S. aircraft maintenance, charter and sales firm had sales of $63 million last year and gross assets of $33 million.
Read more at Reuters.com Mergers News
It said the U.S. aircraft maintenance, charter and sales firm had sales of $63 million last year and gross assets of $33 million.
Read more at Reuters.com Mergers News
UPDATE 3-PPR sales beat forecasts despite slower Gucci growth
(Reuters) - PARIS, April 26 - French fashion-to-furniture retailer PPR reported a forecast-beating 5.0 percent rise in first-quarter sales as a pick up in its African distribution business added to growth in its luxury brands.
The owner of Gucci and Yves Saint Laurent and France's Conforama home-furnishing and Fnac books and music chains said sales in the three months to March 31 rose to 4.447 billion euros from 4.235 billion a year ago.
Read more at Reuters.com Mergers News
The owner of Gucci and Yves Saint Laurent and France's Conforama home-furnishing and Fnac books and music chains said sales in the three months to March 31 rose to 4.447 billion euros from 4.235 billion a year ago.
Read more at Reuters.com Mergers News
HIGHLIGHTS-Putin's annual address to parliament
(Reuters) - ** Putin said foreign money was being channelled into Russia to meddle in domestic politics, and called for tougher legislation to fight extremists. ** Putin said the introduction of a system of proportional representation would ensure a fair result in this December's lower house election. Russia's strategic direction will depend directly on the new parliament, he said.
** He announced a housing offensive. Some of the proceeds of the auction of assets in bankrupt oil firm YUKOS should be ploughed into homebuilding, he said.
Read more at Reuters.com Bonds News
** He announced a housing offensive. Some of the proceeds of the auction of assets in bankrupt oil firm YUKOS should be ploughed into homebuilding, he said.
Read more at Reuters.com Bonds News
Platinum Advances in London, Ending Its Worst Losing Streak in Seven Weeks
(Bloomberg) -- Platinum rose in London, snapping its worst losing streak in more than seven weeks on speculation that a new platinum-based investment product will buoy demand for the metal used in jewelry and cars. Palladium declined.
Platinum fell for three consecutive trading sessions after closing at a record April 20. Carmakers are using more platinum to reduce emissions from vehicles as governments tighten environmental controls. Demand may be further bolstered by investors buying a new exchange-traded fund backed by platinum, London-based researcher GFMS Ltd. said yesterday.
Read more at Bloomberg Commodities News
Platinum fell for three consecutive trading sessions after closing at a record April 20. Carmakers are using more platinum to reduce emissions from vehicles as governments tighten environmental controls. Demand may be further bolstered by investors buying a new exchange-traded fund backed by platinum, London-based researcher GFMS Ltd. said yesterday.
Read more at Bloomberg Commodities News
Nintendo 06/07 profit jumps, sees further growth
(Reuters) - TOKYO, April 26 - Japanese video game maker Nintendo Co. Ltd. said on Thursday its yearly profit more than doubled on vigorous sales of its DS handheld games, and it forecast bigger growth than expected this year.
The DS offers intuitive, easy-to-play games such as its "Nintendogs" pet training title, and has helped expand the gaming population beyond the hardcore users of young men to include women and the elderly.
Read more at Reuters.com Market News
The DS offers intuitive, easy-to-play games such as its "Nintendogs" pet training title, and has helped expand the gaming population beyond the hardcore users of young men to include women and the elderly.
Read more at Reuters.com Market News
GLOBAL MARKETS-Stocks at record highs, dollar at lows
(Reuters) - The dollar was close to an all-time trough against the euro after hitting the lowest level on Wednesday against a trade- weighted basket of major world currencies since the Bretton Woods fixed exchange rate system broke down.
Stock markets, however, rallied after a strong performance from Wall Street, where the Dow Jones industrial average closed overnight above 13,000 for the first time.
Read more at Reuters.com Bonds News
Stock markets, however, rallied after a strong performance from Wall Street, where the Dow Jones industrial average closed overnight above 13,000 for the first time.
Read more at Reuters.com Bonds News
Lincoln National explores sale of unit -WSJ
(Reuters) - Lincoln could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Nintendo 2006/07 profit jumps, sees further growth
(Reuters) - Operating profit at Nintendo, which competes with Sony Corp. and Microsoft Corp. in the $30 billion video game industry, rose to a record 226.02 billion yen in the year ended in March, up from 90.35 billion yen a year earlier.
That compares with a consensus of 204.9 billion yen in a poll of 18 analysts by Reuters Estimates.
Read more at Reuters.com Market News
That compares with a consensus of 204.9 billion yen in a poll of 18 analysts by Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Nissan Q4 up, sees modest 2007-08 rise
(Reuters) - TOKYO, April 26 - Nissan Motor Co. , Japan's third-biggest carmaker, posted a small increase in quarterly operating profit as it sold fewer vehicles than expected, and forecast a modest 3 percent profit rise this year.
Last year, Nissan was overtaken as Japan's second-biggest automaker by Honda Motor Co. and it lags its bigger domestic rivals in brand image, having lost years of aggressive research and development in the late 1990s while it scrambled to stay afloat.
Read more at Reuters.com Market News
Last year, Nissan was overtaken as Japan's second-biggest automaker by Honda Motor Co. and it lags its bigger domestic rivals in brand image, having lost years of aggressive research and development in the late 1990s while it scrambled to stay afloat.
Read more at Reuters.com Market News
Aquarius Platinum lifts Q3 profit 158 pct
(Reuters) - South African miner Aquarius Platinum said on Thursday third quarter net profit increased 158 percent to $47.9 million due to higher precious metal prices.
The firm, which has most of its operations in South Africa and is listed in Johannesburg, Sydney and London, said its revenue for the quarter to end-March was $197.7 million.
Read more at Reuters Africa
The firm, which has most of its operations in South Africa and is listed in Johannesburg, Sydney and London, said its revenue for the quarter to end-March was $197.7 million.
Read more at Reuters Africa
Wednesday, April 25, 2007
ARM's Q1 profit in line, to step up share buybacks
(Reuters) - The market had expected the company to report pretax profit of 21.6 million pounds on revenues of 67.4 million, according to average forecasts in a poll of 17 analysts supplied by the company.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 2-France Tel. Q1 beats forecasts, not eyeing Italy
(Reuters) - By Astrid Wendlandt
PARIS, April 26 - France Telecom posted on Thursday a 1.5 percent rise in underlying first-quarter profit, slightly above forecasts, helped by cost-control and demand for Internet access and media services.
Read more at Reuters.com Mergers News
PARIS, April 26 - France Telecom posted on Thursday a 1.5 percent rise in underlying first-quarter profit, slightly above forecasts, helped by cost-control and demand for Internet access and media services.
Read more at Reuters.com Mergers News
Nikkei up 1.1 pct, Kyocera rises before earnings
(Reuters) - JFE Holdings Inc. jumped more than 4 percent after the world's fourth-biggest steel maker posted higher-than-expected profit in the past business year The announcement prompted investor buying of other steel shares, making the steel sector ISTEL.the best performer among the TOPIX's 33 industry sub-indexes
The Nikkei ended up 193.01 points at 17,429.17. The broad TOPIX index was up 0.95 percent at 1,703.41.
Read more at Reuters.com Hot Stocks News
The Nikkei ended up 193.01 points at 17,429.17. The broad TOPIX index was up 0.95 percent at 1,703.41.
Read more at Reuters.com Hot Stocks News
Weaker US dollar, India buys lift gold
(Reuters) - Gold rose on Thursday on the back of a weaker U.S. dollar and purchases from Indian jewellers, but some dealers turned cautious after the metal's failed attempt to revisit $700.
"The metal's failure to decisively break the key resistances has knocked off the bullish sentiments, albeit marginally," said Pradeep Unni, analyst at Vision Commodity Services in Dubai.
Read more at Reuters Africa
"The metal's failure to decisively break the key resistances has knocked off the bullish sentiments, albeit marginally," said Pradeep Unni, analyst at Vision Commodity Services in Dubai.
Read more at Reuters Africa
U.K. Pension Plans May Show Surplus in 3 Years as Stocks Rally, Aon Says
(Bloomberg) -- U.K. company pension plans within three years may have more money than they owe their members, as returns from equities lift asset values, according to Aon Corp.
The 200 largest pension funds in the U.K. have a combined deficit of about 26 billion pounds ($52 billion), Aon's London- based pension consultancy said in an e-mailed statement. There's a 61 percent chance of that disappearing by 2010 and an 84 percent chance of the funds being in surplus within 10 years, the company said.
Read more at Bloomberg Bonds News
The 200 largest pension funds in the U.K. have a combined deficit of about 26 billion pounds ($52 billion), Aon's London- based pension consultancy said in an e-mailed statement. There's a 61 percent chance of that disappearing by 2010 and an 84 percent chance of the funds being in surplus within 10 years, the company said.
Read more at Bloomberg Bonds News
TREASURIES-Market pauses in Asia after slide on data
(Reuters) - The two-year yield rose on Wednesday after matching a three-week low, narrowing the spread between two- and 10-year yields.
"Yesterday's move was largely an adjustment from the slight bull steepening we've been seeing," said a dealer at a European securities house, while adding it was too early to say if spreads would narrow more.
Read more at Reuters.com Bonds News
"Yesterday's move was largely an adjustment from the slight bull steepening we've been seeing," said a dealer at a European securities house, while adding it was too early to say if spreads would narrow more.
Read more at Reuters.com Bonds News
France Telecom, Cap Gemini, Dior, Coil, Lagardere: French Equity Preview
(Bloomberg) -- Shares of the following companies may rise or fall on the Paris stock exchange. Symbols are in parentheses after company names and prices are from yesterday's close.
The CAC 40 Index climbed 61.30, or 1 percent, to 5947.33, its highest in more than six years. The SBF 120 Index advanced 0.9 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index climbed 61.30, or 1 percent, to 5947.33, its highest in more than six years. The SBF 120 Index advanced 0.9 percent.
Read more at Bloomberg Stocks News
Hong Kong Export Growth Probably Slowed on March Dip in China's Trade Boom
(Bloomberg) -- Hong Kong's export growth probably cooled in March on a dip in China's trade boom.
Overseas sales rose 8.7 percent from a year earlier after expanding 12 percent in February, according to the median estimate of 15 economists surveyed by Bloomberg News. The government will release figures at 4:15 p.m. local time.
Read more at Bloomberg Bonds News
Overseas sales rose 8.7 percent from a year earlier after expanding 12 percent in February, according to the median estimate of 15 economists surveyed by Bloomberg News. The government will release figures at 4:15 p.m. local time.
Read more at Bloomberg Bonds News
Wheat Gains to Six-Month High in Chicago as Canadian Farmers Cut Plantings
(Bloomberg) -- Wheat futures in Chicago rose for a second day to a six-month high after farmers said they planned to cut plantings by 10 percent in Canada, the second-largest exporter of the grain, to switch to more profitable crops.
Canada, which grows mostly spring wheat, will sow 23.8 million acres this year, down from 26.4 million in 2006, Statistics Canada said April 24 in a survey of farmers. The decline will further erode global inventories, which the U.S. government estimated this month will drop to 121.2 million metric tons by May 31, the lowest since 1982.
Read more at Bloomberg Commodities News
Canada, which grows mostly spring wheat, will sow 23.8 million acres this year, down from 26.4 million in 2006, Statistics Canada said April 24 in a survey of farmers. The decline will further erode global inventories, which the U.S. government estimated this month will drop to 121.2 million metric tons by May 31, the lowest since 1982.
Read more at Bloomberg Commodities News
South Korean Stocks Climb to Record; Posco, Samsung Electronics Lead Gains
(Bloomberg) -- South Korean stocks rose to a record. Posco gained after a newspaper said it may swap stakes with Hyundai Heavy Industries Co. to fend off hostile bids.
Steelmakers such Hyundai Steel Co. also rose after Baoshan Iron & Steel Co., China's biggest, said quarterly profit more than doubled as the government curbed capacity expansion.
Read more at Bloomberg Stocks News
Steelmakers such Hyundai Steel Co. also rose after Baoshan Iron & Steel Co., China's biggest, said quarterly profit more than doubled as the government curbed capacity expansion.
Read more at Bloomberg Stocks News
UPDATE 1-Mexico's Penoles 1st-qtr net profit down 16.3 pct
(Reuters) - Without last year's gain on an asset sale, net profit would have jumped 43 percent.
Penoles , the world's top silver miner, said first-quarter sales totaled 10.6 billion pesos, an increase of 47 percent from the year-ago period, due to high metals prices and lower operating costs.
Read more at Reuters.com Market News
Penoles , the world's top silver miner, said first-quarter sales totaled 10.6 billion pesos, an increase of 47 percent from the year-ago period, due to high metals prices and lower operating costs.
Read more at Reuters.com Market News
M'bishi UFJ Sec ex-US head wasn't certified-paper
(Reuters) - The CEO left his position in March, it added.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-Alcon first-quarter profit rises 17 percent
(Reuters) - Alcon, which is majority owned by Swiss conglomerate Nestle , posted a quarterly profit of $346.2 million, or $1.14 per share, compared with a profit of $295.7 million, or 95 cents per share, in the year-ago period.
Excluding a charge related to the impairment of certain assets of the company's refractive laser product line, Alcon earned $1.21 per share. Analysts on average had expected $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Excluding a charge related to the impairment of certain assets of the company's refractive laser product line, Alcon earned $1.21 per share. Analysts on average had expected $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
NEWSMAKER-Bank of Canada's Dodge renowned for straight talk
(Reuters) - The central bank announced on Wednesday that Dodge, a skilled bureaucrat credited with helping wrench Canada out of an economic morass in the 1990s, will not seek a second term when his seven-year mandate ends on Jan. 31, 2008.
Known for his gravely voice, the economist quickly gained a reputation for candor. In a famous example, he outlined the need to return inflation to the bank's 2 percent target.
Read more at Reuters.com Bonds News
Known for his gravely voice, the economist quickly gained a reputation for candor. In a famous example, he outlined the need to return inflation to the bank's 2 percent target.
Read more at Reuters.com Bonds News
Celestica loss widens as revenue slips lower
(Reuters) - Celestica said it lost $34.3 million, or 15 cents per share, in the three months ended March 31. That was worse than the loss of $17.4 million, or 8 cents per share, in the same period a year earlier.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
TREASURIES-Bonds slip ahead of auction, after mixed data
(Reuters) - NEW YORK, April 25 - U.S. government bond prices slipped on Wednesday, weighed down by the expectation of more supply in the market with a two-year note auction and after mixed data reports.
Data showing the housing market slump is not over largely offset a stronger-than-expected durable goods report.
Read more at Reuters.com Bonds News
Data showing the housing market slump is not over largely offset a stronger-than-expected durable goods report.
Read more at Reuters.com Bonds News
CVS offer ends with a fraction of shares tendered
(Reuters) - The drugstore and pharmacy benefits manager company said it would continue to look at alternatives for optimizing its capital structure.
CVS offered $35 per share in the tender offer, which began on March 28. The tender offer was made as part of its sweetened bid for Caremark. That deal closed on March 22.
Read more at Reuters.com Mergers News
CVS offered $35 per share in the tender offer, which began on March 28. The tender offer was made as part of its sweetened bid for Caremark. That deal closed on March 22.
Read more at Reuters.com Mergers News
Alcoa explores possible sale of packaging business
(Reuters) - The company said it would explore strategic alternatives for the business, which makes consumer products like Reynolds Wrap. Joint ventures are another possibility.
"We're going to look at all options available," said Alcoa spokesman Kevin Lowery.
Read more at Reuters.com Business News
"We're going to look at all options available," said Alcoa spokesman Kevin Lowery.
Read more at Reuters.com Business News
UPDATE 2-Alcoa explores possible sale of packaging business
(Reuters) - NEW YORK, April 25 - Alcoa Inc. , the world's largest aluminum company, said on Wednesday that it might put its packaging and consumer business up for sale, sending its shares as much as 7 percent.
The company said it would explore strategic alternatives for the business, which makes consumer products like Reynolds Wrap. Joint ventures are another possibility.
Read more at Reuters.com Government Filings News
The company said it would explore strategic alternatives for the business, which makes consumer products like Reynolds Wrap. Joint ventures are another possibility.
Read more at Reuters.com Government Filings News
Treasuries Little Changed After Sales of New Homes Increased During March
(Bloomberg) -- U.S. Treasuries pared losses and were little changed after a government report showed sales of new homes increased last month.
Sales rose 2.6 percent, after falling a revised 4.2 percent in February, according to data released by the Commerce Department in Washington. The median forecast of economists surveyed by Bloomberg News was for a 5 percent boost in sales.
Read more at Bloomberg Bonds News
Sales rose 2.6 percent, after falling a revised 4.2 percent in February, according to data released by the Commerce Department in Washington. The median forecast of economists surveyed by Bloomberg News was for a 5 percent boost in sales.
Read more at Bloomberg Bonds News
FACTBOX-What analysts are saying about battle for ABN
(Reuters) -
Here are selected comments from analysts' research notes on Wednesday:
Read more at Reuters.com Mergers News
Here are selected comments from analysts' research notes on Wednesday:
Read more at Reuters.com Mergers News
UPDATE 1-WPP eyeing Web ad company 24/7 Real Media -report
(Reuters) - Shares of 24/7 Real Media rose $1.11, or 13.1 percent, to $9.59 in early Nasdaq trade.
24/7 Real Media has already been in talks with London-based WPP, the Post reported, citing unnamed sources.
Read more at Reuters.com Mergers News
24/7 Real Media has already been in talks with London-based WPP, the Post reported, citing unnamed sources.
Read more at Reuters.com Mergers News
UPDATE 2-Chaparral Steel explores sale, stock soars
(Reuters) - Chaparral's stock jumped $9.70, or 15 percent, to $73.64 on the news.
Midlothian, Texas-based Chaparral is the second-largest producer of structural steel beams in North America and is also a recycling company. Chaparral, with a market capitalization of around $3 billion, also supplies steel bar products.
Read more at Reuters.com Mergers News
Midlothian, Texas-based Chaparral is the second-largest producer of structural steel beams in North America and is also a recycling company. Chaparral, with a market capitalization of around $3 billion, also supplies steel bar products.
Read more at Reuters.com Mergers News
UPDATE 1-Allegheny Technologies first-quarter profit rises
(Reuters) - Net income was $197.8 million, or $1.92 per share, compared with $106.5 million, or $1.04 per share, a year earlier, the Pittsburgh-based company said.
Analysts had expected earnings of $1.83 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts had expected earnings of $1.83 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Ashland second-quarter profits flat
(Reuters) - Net income for the second fiscal quarter was $49 million, or 77 cents a share, compared with $49 million, or 67 cents a share, in the year-ago quarter.
The company had a higher number of shares outstanding in the year ago period.
Read more at Reuters.com Market News
The company had a higher number of shares outstanding in the year ago period.
Read more at Reuters.com Market News
UPDATE 1-Louisiana-Pacific posts first-quarter loss
(Reuters) - The company's net loss was $37 million, or 36 cents per diluted share, compared to net income of $84 million, or 79 cents per diluted share, a year earlier. Income from continuing operations a year ago was $85 million, or 80 cents per share.
The company lost money in its oriented strand board unit, where pricing was nearly 50 percent lower than a year ago and costs were impacted by railroad work interruptions, Louisiana-Pacific Chief Executive Rick Frost said.
Read more at Reuters.com Market News
The company lost money in its oriented strand board unit, where pricing was nearly 50 percent lower than a year ago and costs were impacted by railroad work interruptions, Louisiana-Pacific Chief Executive Rick Frost said.
Read more at Reuters.com Market News
UPDATE 1-Ryder profit rises, beats analyst forecasts
(Reuters) - The company also issued an outlook for the second quarter, which came in below market expectations.
The Miami-based company reported first-quarter net income rose 8 percent to $51.3 million, or 84 cents a share, compared with $47.6 million, or 77 cents a share, a year earlier. Revenue rose 7 percent to $1.59 billion from $1.50 billion.
Read more at Reuters.com Market News
The Miami-based company reported first-quarter net income rose 8 percent to $51.3 million, or 84 cents a share, compared with $47.6 million, or 77 cents a share, a year earlier. Revenue rose 7 percent to $1.59 billion from $1.50 billion.
Read more at Reuters.com Market News
UPDATE 1-AMG profit up 4 pct, beats expectations
(Reuters) - AMG, which owns stakes in more than two dozen investment managers including value equities firm Third Avenue Management and quantitative manager AQR Capital Management, said performance was "excellent" in alternative investments products and international equities, both of which were poised for stronger growth.
Net income rose to $36.6 million, or 93 cents per diluted share, from $35.2 million, or 81 cents per diluted share in the year-ago quarter.
Read more at Reuters.com Market News
Net income rose to $36.6 million, or 93 cents per diluted share, from $35.2 million, or 81 cents per diluted share in the year-ago quarter.
Read more at Reuters.com Market News
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