(Reuters) - TOKYO, April 11 - Japanese supermarket Daiei Inc. plans to offer a stake of around 30 percent in its credit card unit OMC Card to various bidders this month, sources close to the matter said on Wednesday.
Credit card firm Credit Saison said it would consider buying OMC shares if they were offered by Daiei, which has been shedding non-core businesses as part of a turnaround effort.
Read more at Reuters.com Mergers News
Tuesday, April 10, 2007
Johncom to split into two listed firms
(Reuters) - South Africa's second-biggest media company Johnnic Communications (Johncom) will spin off and separately list its media and entertainment assets, the group said on Wednesday.
Johncom said in a statement the new firm, named Opco, will be unbundled to shareholders and listed on the Johannesburg Securities Exchange.
Read more at Reuters Africa
Johncom said in a statement the new firm, named Opco, will be unbundled to shareholders and listed on the Johannesburg Securities Exchange.
Read more at Reuters Africa
Potential bid for TXU wires unit disclosed
(Reuters) - Paul Hudson, chairman of the Texas Public Utility Commission , disclosed the existence of a thwarted bid for some TXU assets at a legislative hearing in Austin, citing two meetings and a phone call with officials from Sharyland Utilities, owner of an electric transmission company in South Texas.
Sharyland is one of many Hunt family companies.
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Sharyland is one of many Hunt family companies.
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Gold steady after six-week peak
(Reuters) - Gold was steady on Wednesday, holding near a six-week high hit the previous day as the U.S. dollar regained some ground and oil prices were flat.
Spot gold was at $676.60/677.55 an ounce by 0403 GMT, against $677.20/677.70 late in New York, not far from a peak of $681.30 hit earlier on Tuesday.
Read more at Reuters Africa
Spot gold was at $676.60/677.55 an ounce by 0403 GMT, against $677.20/677.70 late in New York, not far from a peak of $681.30 hit earlier on Tuesday.
Read more at Reuters Africa
India's Bharti says to sign Wal-Mart deal in April
(Reuters) - Bharti Retail Ltd., wholly-owned by Bharti Enterprises, has said it will spend $2.5 billion by 2015 on setting up hypermarkets, supermarkets and other stores across India.
The proposed entry of Wal-Mart in India's fragmented $300 billion retail industry, which is dominated by small stores, has triggered political concerns and protests from trade unions and small shop owners who fear job losses.
Read more at Reuters.com Mergers News
The proposed entry of Wal-Mart in India's fragmented $300 billion retail industry, which is dominated by small stores, has triggered political concerns and protests from trade unions and small shop owners who fear job losses.
Read more at Reuters.com Mergers News
Boeing seeks foreign partner for India plant-report
(Reuters) - "The only two companies that have elaborate aircraft maintenance structure in the county are Air-India and Indian, so we are looking for foreign partners," Dinesh Keskar, vice-president of sales for commercial airplanes at Boeing, told the paper.
"We are in talks and a decision is expected before the ground-breaking ceremony ," he said.
Read more at Reuters.com Mergers News
"We are in talks and a decision is expected before the ground-breaking ceremony ," he said.
Read more at Reuters.com Mergers News
UPDATE 1-Potential bid for TXU wires unit disclosed
(Reuters) - TXU agreed last month to be acquired by a group of private equity firms led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group for $32 billion.
Paul Hudson, chairman of the Texas Public Utility Commission , disclosed the existence of a thwarted bid for some TXU assets at a legislative hearing in Austin, citing two meetings and a phone call with officials from Sharyland Utilities, owner of an electric transmission company in South Texas.
Read more at Reuters.com Mergers News
Paul Hudson, chairman of the Texas Public Utility Commission , disclosed the existence of a thwarted bid for some TXU assets at a legislative hearing in Austin, citing two meetings and a phone call with officials from Sharyland Utilities, owner of an electric transmission company in South Texas.
Read more at Reuters.com Mergers News
S.African stocks hit record high on miners, Telkom
(Reuters) - South African stocks marched to a fresh record high on Tuesday as higher precious metal and copper prices buoyed mining stocks and fixed-line phone operator Telkom rose after its chief executive quit.
The Johannesburg Top-40 index of blue-chip stocks gained 1.23 percent to a historic high of 25,123.92 points, while the All-share index gained 1.19 percent to 27,875.62 points, also a record peak.
Read more at Reuters Africa
The Johannesburg Top-40 index of blue-chip stocks gained 1.23 percent to a historic high of 25,123.92 points, while the All-share index gained 1.19 percent to 27,875.62 points, also a record peak.
Read more at Reuters Africa
D.R. Horton orders down, spring starts weak
(Reuters) - Net sales orders in the second fiscal quarter ended March 31 fell to 9,983 homes from 15,771 a year earlier, and the dollar value of the orders sank 41 percent to $2.6 billion from $4.4 billion, Fort Worth, Texas-based D.R. Horton said.
For the six months ended March 31, new sales orders fell 31 percent to 18,754 homes, and the value of the homes fell 35 percent to $4.9 billion.
Read more at Reuters.com Bonds News
For the six months ended March 31, new sales orders fell 31 percent to 18,754 homes, and the value of the homes fell 35 percent to $4.9 billion.
Read more at Reuters.com Bonds News
China's trade surplus plunges, seen as an anomaly
(Reuters) - Annual export growth swung to a five-year low of 6.9 percent from 51.7 percent in February, customs data showed on Tuesday, as exports of products ranging from clothing to furniture plummeted.
"My guess is that Chinese exporters rushed to export in the first two months because of concerns over reductions in export tax rebates, leaving them with fewer goods to ship in March," said Zhang Yongjun, an economist with the State Information Center in Beijing.
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"My guess is that Chinese exporters rushed to export in the first two months because of concerns over reductions in export tax rebates, leaving them with fewer goods to ship in March," said Zhang Yongjun, an economist with the State Information Center in Beijing.
Read more at Reuters.com Business News
IMF chief urges big members to push vote reform
(Reuters) - International Monetary Fund Managing Director Rodrigo Rato said the IMF's biggest members need to demonstrate leadership in pushing forward IMF voting reforms that will boost the influence of emerging economic powers.
Speaking on Monday ahead of a meeting of world financial leaders in Washington this weekend, Rato said he will seek further guidance from the meeting but that no final decisions will be taken.
Read more at Reuters Africa
Speaking on Monday ahead of a meeting of world financial leaders in Washington this weekend, Rato said he will seek further guidance from the meeting but that no final decisions will be taken.
Read more at Reuters Africa
Rand softer on rates uncertainty
(Reuters) - South Africa's rand was softer against the dollar on Tuesday amid nervousness before a central bank decision on interest rates on Thursday.
The rand stood at 7.1620 versus the dollar at 0640 GMT, about 0.6 percent weaker than its New York close of 7.1160 on Monday.
Read more at Reuters Africa
The rand stood at 7.1620 versus the dollar at 0640 GMT, about 0.6 percent weaker than its New York close of 7.1160 on Monday.
Read more at Reuters Africa
European shares mixed at open; oil counters M&A
(Reuters) - European shares were mixed in early trade on Tuesday, as oil shares falling with crude prices countered the impact of a fresh burst of merger and acquisition activity.
At 0713 GMT, the FTSEurofirst 300 index of top European shares was down 0.03 percent at 1,539.72 points. Among major national indexes, Germany's DAX was up 0.3 percent, Britain's FTSE 100 was flat and France's CAC 40 was down 0.1 percent.
Read more at Reuters Africa
At 0713 GMT, the FTSEurofirst 300 index of top European shares was down 0.03 percent at 1,539.72 points. Among major national indexes, Germany's DAX was up 0.3 percent, Britain's FTSE 100 was flat and France's CAC 40 was down 0.1 percent.
Read more at Reuters Africa
FTSE ticks up, led by miners, but oil stocks weigh
(Reuters) - Britain's top share index was slightly higher early on Tuesday as miners rose on the back of higher metal prices, though their gains were offset by declines in heavyweight oil shares.
At 0831 GMT, the FTSE 100 was up 4.1 points, or 0.06 percent, at 6,401.4. European shares were also slightly firmer.
Read more at Reuters Africa
At 0831 GMT, the FTSE 100 was up 4.1 points, or 0.06 percent, at 6,401.4. European shares were also slightly firmer.
Read more at Reuters Africa
Oil climbs back towards $62 after steep fall
(Reuters) - Oil rose towards $62 on Tuesday, interrupting six straight days of losses, as market attention shifted to Iran's nuclear programme and a likely drop in gasoline stocks in top consumer the United States.
Price falls began on March 30 and gathered pace last week when Iran released 15 British sailors and marines, wiping more than $4 off a barrel of U.S. crude.
Read more at Reuters Africa
Price falls began on March 30 and gathered pace last week when Iran released 15 British sailors and marines, wiping more than $4 off a barrel of U.S. crude.
Read more at Reuters Africa
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