(Reuters) - U.S. crude settled down $1.30 at $64.64 a barrel, while London Brent fell 93 cents to $67.81 a barrel following comments by British Prime Minister Tony Blair on apparently conciliatory remarks by Iran.
"We're not looking for a confrontation over this and, actually, the most important thing is to get people back safe and sound. And, if they want to resolve this in a diplomatic way, the door is open," Blair told a radio station in Scotland.
Read more at Reuters.com Hot Stocks News
Tuesday, April 3, 2007
Treasury's Paulson omitted small fund holding
(Reuters) - The omission was "an oversight" on Paulson's part, Treasury spokeswoman Brookly McLaughlin said.
Paulson, the former chairman of Wall Street investment powerhouse Goldman Sachs , was estimated to have a net worth of about $700 million when he took office in July 2006. He was awarded an $18.7 million cash bonus for his final half-year of work for Goldman Sachs.
Read more at Reuters.com Business News
Paulson, the former chairman of Wall Street investment powerhouse Goldman Sachs , was estimated to have a net worth of about $700 million when he took office in July 2006. He was awarded an $18.7 million cash bonus for his final half-year of work for Goldman Sachs.
Read more at Reuters.com Business News
ICE says energy futures volume up 69 pct in March
(Reuters) - ICE said the rate per contract at ICE Futures, a key measure of margins, averaged $1.31 in March and $1.29 for the first quarter.
An upstart energy exchange based in Atlanta, ICE is currently bidding to buy CBOT Holdings, parent of the Chicago Board of Trade .
Read more at Reuters.com Market News
An upstart energy exchange based in Atlanta, ICE is currently bidding to buy CBOT Holdings, parent of the Chicago Board of Trade .
Read more at Reuters.com Market News
Exxaro raises $169 mln from share placement
(Reuters) - South Africa's Exxaro Resources on Tuesday said it had raised 1.216 billion rand from the placement of 19 million shares at 64 rand a share.
In an earlier announcement, Exxaro and Anglo South Africa Capital Ltd. (ASAC) said a placement of a further 4.5 million shares in Exxaro was made due to market demand.
Read more at Reuters Africa
In an earlier announcement, Exxaro and Anglo South Africa Capital Ltd. (ASAC) said a placement of a further 4.5 million shares in Exxaro was made due to market demand.
Read more at Reuters Africa
Tensions over Iran have "spooked" oil prices: Bush
(Reuters) - Uncertainty over the fate of 15 British sailors and marines seized by Iran on March 23 in the northern Gulf has also caused jitters in the oil market, sending U.S. crude futures above $68 a barrel to the highest level in more than six months last week.
"The price of crude oil is on the rise because people get spooked for example when it looks like there may be a crisis with a crude oil producing nation like Iran," Bush told reporters.
Read more at Reuters.com Business News
"The price of crude oil is on the rise because people get spooked for example when it looks like there may be a crisis with a crude oil producing nation like Iran," Bush told reporters.
Read more at Reuters.com Business News
UPDATE 1-EU says record companies force iTunes access limit
(Reuters) - The EU executive sent formal charges to Apple and the major record companies last week because consumers can only buy iTunes in their own countries and cannot shop around for cheaper prices and a broader catalogue in other states.
"Our current view is that this is an arrangement which is imposed on Apple by the major record companies and we do not see a justification for it," Commission spokesman Jonathan Todd told reporters.
Read more at Reuters.com Mergers News
"Our current view is that this is an arrangement which is imposed on Apple by the major record companies and we do not see a justification for it," Commission spokesman Jonathan Todd told reporters.
Read more at Reuters.com Mergers News
DaimlerChrysler U.S. sales down 4 percent
(Reuters) - Sales at Chrysler Group, which includes the Jeep, Dodge and Chrysler brands, fell 5 percent, while sales at Mercedes-Benz rose 1 percent.
Results were not adjusted for an extra selling day last month.
Read more at Reuters.com Business News
Results were not adjusted for an extra selling day last month.
Read more at Reuters.com Business News
CME postpones shareholder meeting on CBOT merger
(Reuters) - CME said it had elected to reschedule as CBOT reviews the unsolicited merger proposal made in mid-March by IntercontinentalExchange Inc. . A new date has not been set for the vote.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Continental leads airline stocks higher
(Reuters) - The gains came after Continental said on Monday that its March revenue per available seat mile increased on fuller planes. The airline's monthly report ripples throughout the industry, as Continental is the only major carrier to publish its revenue estimates.
"Strong month-of-March demand at Continental portends a quarterly profit for that carrier, hopefully serving as a reassuring reminder that demand trends remain intact," said J.P. Morgan analyst Jamie Baker in a research note.
Read more at Reuters.com Hot Stocks News
"Strong month-of-March demand at Continental portends a quarterly profit for that carrier, hopefully serving as a reassuring reminder that demand trends remain intact," said J.P. Morgan analyst Jamie Baker in a research note.
Read more at Reuters.com Hot Stocks News
Alcatel-Lucent buys Canadian firm Tropic Networks
(Reuters) - Tropic Networks, which is privately held, employs about 100 people and has a portfolio of some 80 patents. Its revenue was not disclosed.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Research firm argues against Sirius-XM deal
(Reuters) - The Carmel Group is credited for having lent arguments to regulators' rejection of a 2002 merger plan between satellite television providers EchoStar Communications Corp. and DirecTV Group Inc.
The new report, issued on Tuesday, concluded that the Sirius-XM deal would result in "less service, less affordability, less diversity and less choice in content and hardware."
Read more at Reuters.com Government Filings News
The new report, issued on Tuesday, concluded that the Sirius-XM deal would result in "less service, less affordability, less diversity and less choice in content and hardware."
Read more at Reuters.com Government Filings News
Sarbanes changes would boost China listings in US
(Reuters) - The Sarbanes-Oxley Act, adopted by Congress in 2002 following high-profile bankruptcies such as that of Enron Corp., has drawn criticism for its extensive disclosure requirements and associated costs of adhering to the rules.
Greifeld, along with U.S. Ambassador to China Clark T. Randt and executives of some of the 40 Chinese firms listed on the Nasdaq, rang the opening bell of Tuesday's trade from Beijing.
Read more at Reuters.com Government Filings News
Greifeld, along with U.S. Ambassador to China Clark T. Randt and executives of some of the 40 Chinese firms listed on the Nasdaq, rang the opening bell of Tuesday's trade from Beijing.
Read more at Reuters.com Government Filings News
US STOCKS-Dow rises 1 percent on lower oil, data
(Reuters) - NEW YORK, April 3 - U.S. stocks advanced on Tuesday, helped by lower oil and a report that suggested the housing market was stabilizing, easing concerns about fallout from the subprime mortgage troubles.
The Dow industrials rose 1 percent. Stocks opened higher on a drop in crude oil prices, sparked by signs Britain and Iran were moving closer to a diplomatic solution to the fate of British naval personnel held in Iran. For details, see [ID:nL03673773].
Read more at Reuters.com Bonds News
The Dow industrials rose 1 percent. Stocks opened higher on a drop in crude oil prices, sparked by signs Britain and Iran were moving closer to a diplomatic solution to the fate of British naval personnel held in Iran. For details, see [ID:nL03673773].
Read more at Reuters.com Bonds News
News Corp shareholders approve Liberty deal
(Reuters) - Liberty quietly snapped up close to a 20 percent voting stake in News Corp. in 2004, a move that spooked Murdoch, who enacted an emergency poison pill to block a feared hostile takeover.
The deal transfers News Corp.'s controlling stake in the top U.S. satellite television provider DirecTV Group Inc. and marks Murdoch's exit from the U.S. satellite market.
Read more at Reuters.com Mergers News
The deal transfers News Corp.'s controlling stake in the top U.S. satellite television provider DirecTV Group Inc. and marks Murdoch's exit from the U.S. satellite market.
Read more at Reuters.com Mergers News
US STOCKS-Wall St extends gains after housing data
(Reuters) - Stocks had already been helped by a drop in crude oil prices.
The Dow Jones industrial average was up 96.22 points, or 0.78 percent, at 12,478.52. The Standard & Poor's 500 Index was up 9.92 points, or 0.70 percent, at 1,434.47. The Nasdaq Composite Index was up 22.88 points, or 0.94 percent, at 2,445.14.
Read more at Reuters.com Bonds News
The Dow Jones industrial average was up 96.22 points, or 0.78 percent, at 12,478.52. The Standard & Poor's 500 Index was up 9.92 points, or 0.70 percent, at 1,434.47. The Nasdaq Composite Index was up 22.88 points, or 0.94 percent, at 2,445.14.
Read more at Reuters.com Bonds News
UPDATE 1-Winston accepts Inland American offer
(Reuters) - Inland American, which is part of Inland Real Estate Group of Cos. Inc., said the total value of the deal was $850 million including transaction costs.
Winston said it paid a termination fee and expenses, totaling $20 million, to Wilbur as a result of backing out of their agreement. It expects to be reimbursed shortly by Inland American.
Read more at Reuters.com Mergers News
Winston said it paid a termination fee and expenses, totaling $20 million, to Wilbur as a result of backing out of their agreement. It expects to be reimbursed shortly by Inland American.
Read more at Reuters.com Mergers News
Winston accepts Inland American offer
(Reuters) - Inland American, which is part of Inland Real Estate Group of Cos. Inc., said the total value of the deal was $850 million including transaction costs.
Winston said it paid a termination fee and expenses, totaling $20 million, to Wilbur as a result of backing out of their agreement. It expects to be reimbursed shortly by Inland American.
Read more at Reuters.com Hot Stocks News
Winston said it paid a termination fee and expenses, totaling $20 million, to Wilbur as a result of backing out of their agreement. It expects to be reimbursed shortly by Inland American.
Read more at Reuters.com Hot Stocks News
Bristol-Myers says FTC seeks files on Apotex deal
(Reuters) - The settlement collapsed when state attorneys general opposed the deal as anti-competitive. Apotex then flooded the United States with its cheaper form of Plavix, causing sales of Bristol's branded product to plunge.
Bristol-Myers said on Tuesday that it was also cooperating fully with a previously disclosed criminal probe of the proposed Apotex settlement being conducted by the antitrust division of the U.S. Department of Justice.
Read more at Reuters.com Government Filings News
Bristol-Myers said on Tuesday that it was also cooperating fully with a previously disclosed criminal probe of the proposed Apotex settlement being conducted by the antitrust division of the U.S. Department of Justice.
Read more at Reuters.com Government Filings News
Wall St rises on lower oil price; data eyed
(Reuters) - U.S. stocks rose on Tuesday, underpinned by a drop in crude oil prices amid signs Britain and Iran were moving closer to a diplomatic resolution to free British naval personnel detained by Iran.
Shares of diversified manufacturer United Technologies Corp. led advances on the Dow, with a 1.1 percent rise, followed by plane maker Boeing Co., which was up 0.6 percent. Investment bank Credit Suisse recommended United Technologies shares.
Read more at Reuters Africa
Shares of diversified manufacturer United Technologies Corp. led advances on the Dow, with a 1.1 percent rise, followed by plane maker Boeing Co., which was up 0.6 percent. Investment bank Credit Suisse recommended United Technologies shares.
Read more at Reuters Africa
UPDATE 1-Bragg bids for Amtelecom, trumps Bell Aliant's bid
(Reuters) - TORONTO, April 3 - Bragg Communications Inc. launched a friendly all-cash takeover bid for Amtelecom Income Fund worth about C$91.2 million on Tuesday, trumping Bell Aliant Regional Communications Income Fund's hostile offer.
Privately-held Bragg Communications, which operates in Nova Scotia, Prince Edward Island and New Brunswick, is offering C$14.25 per Amtelecom unit, which surpasses Bell Aliant's offer of C$13.00 per unit.
Read more at Reuters.com Mergers News
Privately-held Bragg Communications, which operates in Nova Scotia, Prince Edward Island and New Brunswick, is offering C$14.25 per Amtelecom unit, which surpasses Bell Aliant's offer of C$13.00 per unit.
Read more at Reuters.com Mergers News
US STOCKS-Indexes up as oil's decline eases worries
(Reuters) - The Dow Jones industrial average was up 13.82 points, or 0.11 percent, at 12,396.12. The Standard & Poor's 500 Index was up 1.37 points, or 0.10 percent, at 1,425.92. The Nasdaq Composite Index was up 10.04 points, or 0.41 percent, at 2,432.30.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
US STOCKS-Wall St set to start higher as oil falls
(Reuters) - NEW YORK, April 3 - U.S. stocks were set for a higher open on Tuesday, underpinned by hopes for a diplomatic resolution to the issue of Iran's detention of British naval personnel and a sharp drop in oil prices.
Gains in European and Asian stocks overnight from news of corporate deals may also lend support on Wall Street.
Read more at Reuters.com Bonds News
Gains in European and Asian stocks overnight from news of corporate deals may also lend support on Wall Street.
Read more at Reuters.com Bonds News
EV3 reports higher Q1 net sales; to provide full results later
(Reuters) - The company said it will provide full financial results for its fiscal first quarter and an updated outlook later this month.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
EU says record companies force iTunes access limit
(Reuters) - "Our current view is that this is an arrangement which is imposed on Apple by the major record companies and we do not see a justification for it," Commission spokesman Jonathan Todd told reporters.
The world's major record companies are Vivendi's Universal Music Group, Sony BMG Music Entertainment, EMI Group and Warner Music Group.
Read more at Reuters.com Business News
The world's major record companies are Vivendi's Universal Music Group, Sony BMG Music Entertainment, EMI Group and Warner Music Group.
Read more at Reuters.com Business News
TREASURIES-Prices drift lower on shifting rate views
(Reuters) - Federal Reserve Bank of St. Louis President William Poole reiterated on Monday the Fed's main concern remained inflation, adding he could be inclined to raise interest rates if price pressures did not abate. Poole is a voting member this year.
"Fed's Poole came out and said there is a high hurdle for cutting rates. He is bullish on the economy. You can say Fed's Poole is one of the reasons why the market is a little bit cheaper," said Thomas di Galoma, head of U.S. Treasury trading at Jefferies & Co. in New York.
Read more at Reuters.com Bonds News
"Fed's Poole came out and said there is a high hurdle for cutting rates. He is bullish on the economy. You can say Fed's Poole is one of the reasons why the market is a little bit cheaper," said Thomas di Galoma, head of U.S. Treasury trading at Jefferies & Co. in New York.
Read more at Reuters.com Bonds News
Taiwan says probes Deutsche Bank over loan
(Reuters) - TAIPEI, April 3 - Deutsche Bank said on Tuesday it is cooperating with a Taiwan government probe into a loan it made there, which local media reported was to a unit of the troubled Rebar Group. The Chinese-language Economic Daily reported that Taiwan's Financial Supervisory Commission was checking to see if Deutsche Bank used an appropriate process when it made the T$6.8 billion loan to Asia Pacific Broadband Wireless Communications.
Deutsche spokesman Michael West declined to confirm the loan recipient or amount, citing client confidentiality agreements.
Read more at Reuters.com Government Filings News
Deutsche spokesman Michael West declined to confirm the loan recipient or amount, citing client confidentiality agreements.
Read more at Reuters.com Government Filings News
Accredited shares up on hedge fund loan
(Reuters) - Accredited shares were up 13.1 percent to $9.59 in electronic composite trading on Tuesday. Fremont shares were down 4.9 percent to $6.20.
Read more at Reuters.com Hot Stocks News
Read more at Reuters.com Hot Stocks News
Bear Stearns fund aims to raise up to $300 mln
(Reuters) - Bear Stearns Private Equity said it would place a maximum of $400 million under the issue in its third fundraising since listing in June 2005.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Dura Automotive to close 4 plants, sell 2 businesses
(Reuters) - April 3 - Bankrupt auto component maker Dura Automotive Systems Inc. said as part of its restructuring plan, it intends to close four plants, cutting 416 jobs, and sell two businesses.
The company, which filed for Chapter 11 bankruptcy protection on Oct. 30, 2006, said the four plants in Brownstown, Indiana; Bracebridge, Ontario; Hannibal South, Missouri; and Selinsgrove, Pennsylvania are slated to be closed this year.
Read more at Reuters.com Mergers News
The company, which filed for Chapter 11 bankruptcy protection on Oct. 30, 2006, said the four plants in Brownstown, Indiana; Bracebridge, Ontario; Hannibal South, Missouri; and Selinsgrove, Pennsylvania are slated to be closed this year.
Read more at Reuters.com Mergers News
Advanta board OKs 3-for-2 stock split
(Reuters) - The board also approved a 25 percent increase in quarterly dividend effective second quarter and authorized buyback of up to 1.5 million class B common shares, on a split-adjusted basis, it added.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Napster says results should beat prior forecast
(Reuters) - The Los Angeles-based company said that for the fourth quarter ended on March 31, it should report more than $28 million in revenue and more than 830,000 paid subscribers.
In February, Napster said it expected fourth-quarter revenue to exceed $26 million and operating expenses to decline on a sequential basis.
Read more at Reuters.com Market News
In February, Napster said it expected fourth-quarter revenue to exceed $26 million and operating expenses to decline on a sequential basis.
Read more at Reuters.com Market News
Resolution 2006 beats forecasts, still on M&A hunt
(Reuters) - LONDON, April 3 - Britain's Resolution beat market forecasts on Tuesday with an 18 percent rise in its embedded value at the end of 2006 and said it planned to boost its 2007 dividend, but would continue to look for acquisitions.
Life insurer Resolution, which has almost quadrupled in size in the past two years through acquisitions, triggered a slide in its share price last week when it said months of takeover talks with unidentified parties had ended, though it would continue to look at possible purchases and business ventures.
Read more at Reuters.com Market News
Life insurer Resolution, which has almost quadrupled in size in the past two years through acquisitions, triggered a slide in its share price last week when it said months of takeover talks with unidentified parties had ended, though it would continue to look at possible purchases and business ventures.
Read more at Reuters.com Market News
S.Africa house price growth eases, no slump seen
(Reuters) - South African residential house price growth moderated slightly year-on-year in March but prices were not expected to fall despite higher interest rates, a survey showed on Tuesday.
The Standard Bank monthly property gauge indicated annualised house price growth of 8.4 percent last month, a touch lower than 8.6 percent growth in February, while month-on-month growth was 1.8 percent.
Read more at Reuters Africa
The Standard Bank monthly property gauge indicated annualised house price growth of 8.4 percent last month, a touch lower than 8.6 percent growth in February, while month-on-month growth was 1.8 percent.
Read more at Reuters Africa
Copper breaks $7,000, nickel nears high
(Reuters) - Copper broke through the psychological barrier of $7,000 per tonne on Tuesday, rising to its highest since December on an outlook of rising demand in China.
Metal for delivery in three months -- often used by the investment community as a key gauge of economic growth -- traded up to $7,188 per tonne on the London Metal Exchange, its most expensive since December 5.
Read more at Reuters Africa
Metal for delivery in three months -- often used by the investment community as a key gauge of economic growth -- traded up to $7,188 per tonne on the London Metal Exchange, its most expensive since December 5.
Read more at Reuters Africa
UPDATE 1-Market Chatter - Corporate finance press digest
(Reuters) - ** Shareholders of Imperial Tobacco have given the green light to the UK's second-largest tobacco company to increase the size of its rights issue to fund an acquisition of Altadis , the Times reported.
** A counterbid for Alliance Boots involving German rival Celesio would face a host of regulatory and competition problems, the Times said, citing analysts and competition lawyers.
Read more at Reuters.com Mergers News
** A counterbid for Alliance Boots involving German rival Celesio would face a host of regulatory and competition problems, the Times said, citing analysts and competition lawyers.
Read more at Reuters.com Mergers News
Shares set to rise, M&A activity supports
(Reuters) - "The wave of takeover activity continuous and that supports the market," said Roland Hirschmueller, trader in U.S. shares at German brokerage Baader, pointing to a $26 billion buyout bid for First Data Corp. .
The credit-card and payment processor First Data said on Monday it had agreed to a buyout bid by private equity firm Kohlberg Kravis Roberts & Co. .
Read more at Reuters.com Business News
The credit-card and payment processor First Data said on Monday it had agreed to a buyout bid by private equity firm Kohlberg Kravis Roberts & Co. .
Read more at Reuters.com Business News
CAMEC launches first copper cathode output in Congo
(Reuters) - Central African Mining & Exploration Company Plc (CAMEC) has launched copper cathode output from its Luita operation in the Democratic Republic of Congo, the firm said on Tuesday.
The firm, which had been producing copper in concentrate for several months previously, said it produced 601 tonnes of copper cathode and 228 tonnes of cobalt in carbonate in March.
Read more at Reuters Africa
The firm, which had been producing copper in concentrate for several months previously, said it produced 601 tonnes of copper cathode and 228 tonnes of cobalt in carbonate in March.
Read more at Reuters Africa
UPDATE 1-E.ON soars as compromise ends struggle for Endesa
(Reuters) - E.ON shares rose 6.6 percent to 108.85 euros at 0727 GMT, while the DAX index of Germany's largest publicly traded companies climbed 0.8 percent.
The German utility announced last night it expected its bid for a majority in Endesa to fail.
Read more at Reuters.com Mergers News
The German utility announced last night it expected its bid for a majority in Endesa to fail.
Read more at Reuters.com Mergers News
Google enters TV ad sales market with EchoStar
(Reuters) - EchoStar Communications Corp. and Google on Monday said they have partnered to create an automated system for buying, selling, delivering and measuring the impact of TV ads running on EchoStar's national, 125-channel DISH Network.
Google, whose pay-per-click Web search ad system has transformed the effectiveness of online advertising, is aiming to bring the same measurability to offline media including radio, print -- and starting in May -- through Google TV Ads.
Read more at Reuters.com Business News
Google, whose pay-per-click Web search ad system has transformed the effectiveness of online advertising, is aiming to bring the same measurability to offline media including radio, print -- and starting in May -- through Google TV Ads.
Read more at Reuters.com Business News
Asian shares rebound, oil dips slightly
(Reuters) - The euro hit a five-week high against the yen, but the dollar held to a familiar range against these currencies as investors looked for more clues on the Federal Reserve's next move on interest rates.
"We're going to rely on triggers like figures and speeches to break out of ranges," said Luke Waddington, head of currency trading at Royal Bank of Scotland in Tokyo.
Read more at Reuters.com Hot Stocks News
"We're going to rely on triggers like figures and speeches to break out of ranges," said Luke Waddington, head of currency trading at Royal Bank of Scotland in Tokyo.
Read more at Reuters.com Hot Stocks News
UPDATE 2-Bloomsbury profits slump, plans life without Potter
(Reuters) - LONDON, April 3 - Harry Potter publisher Bloomsbury is on the hunt for acquisitions as it looks to fill a gap that will be left when the final tome of the boy wizard's adventures is released later this year.
Bloomsbury's reliance on J.K. Rowling's smash children's book series was underscored on Tuesday when the company posted a big, though expected, fall in 2006 annual profits -- a year of no major new Harry Potter releases.
Read more at Reuters.com Market News
Bloomsbury's reliance on J.K. Rowling's smash children's book series was underscored on Tuesday when the company posted a big, though expected, fall in 2006 annual profits -- a year of no major new Harry Potter releases.
Read more at Reuters.com Market News
US shares edge up, helped by M&A deals
(Reuters) - U.S. stocks ended slightly higher on Monday as a new round of takeovers led by a $29 billion buyout bid for First Data Corp. fueled optimism about stock valuations, countering worries about the economy and turmoil in the housing market.
First Data, a credit-card and payment processor, said it had agreed to a buyout bid by private equity firm Kohlberg Kravis Roberts & Co.. Its stock was the top percentage gainer, up 20.6 percent, on the New York Stock Exchange.
Read more at Reuters Africa
First Data, a credit-card and payment processor, said it had agreed to a buyout bid by private equity firm Kohlberg Kravis Roberts & Co.. Its stock was the top percentage gainer, up 20.6 percent, on the New York Stock Exchange.
Read more at Reuters Africa
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