(Bloomberg) -- Japanese commodity-related shares including Mitsubishi Materials Corp. gained after prices of oil and copper rose and Inpex Holdings Inc. said its profit for the last business year exceeded the company's initial estimate.
Companies including KDDI Corp. and Canon Inc. gained on expectations they would report higher earnings after markets closed today.
Read more at Bloomberg Stocks News
Monday, April 23, 2007
Pick 'n Pay year revenue rises 12.1 pct
(Reuters) - South African supermarket chain Pick 'n Pay on Tuesday said revenue rose 12.1 percent to 39.3 billion rand for the year to end-February 2007.
Pick 'n Pay said in a statement that headline earnings per share -- which excludes capital, non-trading and certain one-off items -- rose 18 percent to 180.55 cents.
Read more at Reuters Africa
Pick 'n Pay said in a statement that headline earnings per share -- which excludes capital, non-trading and certain one-off items -- rose 18 percent to 180.55 cents.
Read more at Reuters Africa
Richemont full-year sales rise 12 percent
(Reuters) - GENEVA, April 24 - Richemont said its sales rose 12 percent to 4.827 billion euros in the 2006/07 fiscal year, in line with analyst expectations, amid strong demand for its high-end watches and jewellery.
Sales gained 16 percent in constant currencies and 12 percent at actual rates over the 12-month period completed at end-March, according to a company statement released on Tuesday.
Read more at Reuters.com Market News
Sales gained 16 percent in constant currencies and 12 percent at actual rates over the 12-month period completed at end-March, according to a company statement released on Tuesday.
Read more at Reuters.com Market News
CHRONOLOGY: Timeline of the Newmont gold mine pollution trial
(Reuters) - - August 2005: Pollution trial begins four years after Newmont ceases mining at the Minahasa Rasa gold mine it has operated in Sulawesi island since 1996. Locals say the mine poisoned their water supply and depleted fisheries. Newmont denies wrongdoing, saying the government approved its tailings disposal process.
- February 2006: Newmont agrees to pay $30 million over 10 years to settle a separate civil suit launched by the Indonesian government over the pollution.
Read more at Reuters.com Business News
- February 2006: Newmont agrees to pay $30 million over 10 years to settle a separate civil suit launched by the Indonesian government over the pollution.
Read more at Reuters.com Business News
Japan Shares Fall, Led by Chemical Shares, Toyota, Exporters on Oil Price
(Bloomberg) -- Japanese shares fell, led by chemical makers including Sumitomo Chemical Co., after a jump in the price of oil raised concern manufacturing costs will rise and Kao Corp. forecast profit will decline this business year.
Toyota Motor Corp. and other exporters dropped on speculation higher fuel costs will curb spending in the U.S., Japan's largest overseas market.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and other exporters dropped on speculation higher fuel costs will curb spending in the U.S., Japan's largest overseas market.
Read more at Bloomberg Stocks News
Alliance Boots, AstraZeneca, Aviva, Vedanta: U.K., Irish Equity Preview
(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from yesterday's market close.
The benchmark FTSE 100 Index fell 7.10, or 0.11 percent, to close at 6479.7 in London as 52 stocks rose, 48 fell and 2 were unchanged. The FTSE All-Share Index lost 2.06, or 0.06 percent, to 3367.78.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index fell 7.10, or 0.11 percent, to close at 6479.7 in London as 52 stocks rose, 48 fell and 2 were unchanged. The FTSE All-Share Index lost 2.06, or 0.06 percent, to 3367.78.
Read more at Bloomberg Stocks News
European Government Bonds May Drop Before Ifo's Investor Confidence Report
(Bloomberg) -- European government bonds may fall before a survey that's expected to show investor confidence in Germany climbed for a third month in April.
Benchmark European debt gained last week as the euro's advance stoked concern about growth in the $10.4 trillion euro region. European Central Bank policy maker Mario Draghi yesterday said interest rates in the region are still ``accommodative.''
Read more at Bloomberg Bonds News
Benchmark European debt gained last week as the euro's advance stoked concern about growth in the $10.4 trillion euro region. European Central Bank policy maker Mario Draghi yesterday said interest rates in the region are still ``accommodative.''
Read more at Bloomberg Bonds News
Newmont, Executive Cleared by Indonesian Court of Violating Pollution Laws
(Bloomberg) -- An Indonesian court acquitted a local unit of Newmont Mining Corp., the world's second-largest gold miner, and a U.S. executive of charges they violated pollution laws in the Southeast Asian nation.
Richard Ness, president director of a now-closed gold mine, and PT Newmont Minahasa Raya were found not guilty of polluting a bay with mercury and arsenic, Presiding Judge Ridwan Damanik told the district court in Manado, North Sulawesi.
Read more at Bloomberg Emerging Markets News
Richard Ness, president director of a now-closed gold mine, and PT Newmont Minahasa Raya were found not guilty of polluting a bay with mercury and arsenic, Presiding Judge Ridwan Damanik told the district court in Manado, North Sulawesi.
Read more at Bloomberg Emerging Markets News
Former Apple Finance Chief to Settle SEC Backdating Probe, Person Says
(Bloomberg) -- Former Apple Inc. Chief Financial Officer Fred Anderson agreed to pay $3.5 million to resolve Securities and Exchange Commission claims over backdated stock option grants to Apple executives approved by Chief Executive Officer Steve Jobs, a person familiar with the case said.
Anderson, 62, Apple's finance chief from 1996 to 2004, will also pay a $150,000 fine to settle claims that he filed false financial reports and had inadequate accounting controls at the Cupertino, California-based company, the person said. The stock option grants at issue were given final approval by Jobs and Apple's board in early February 2001, and backdated to Jan. 17, boosting their value, the person said.
Read more at Bloomberg Exclusive News
Anderson, 62, Apple's finance chief from 1996 to 2004, will also pay a $150,000 fine to settle claims that he filed false financial reports and had inadequate accounting controls at the Cupertino, California-based company, the person said. The stock option grants at issue were given final approval by Jobs and Apple's board in early February 2001, and backdated to Jan. 17, boosting their value, the person said.
Read more at Bloomberg Exclusive News
Japan's 20-Year Government Bonds Rise on Speculation Sale to Draw Demand
(Bloomberg) -- Japan's 20-year bonds rose for a second day on speculation investors will be attracted to a sale of the securities today after the government raised the coupon for the auction.
The Ministry of Finance put a 2.1 percent payout on the 800 billion yen ($6.7 billion) of 20-year securities it will sell, up from 2 percent at the previous auction last month. The difference in yield, or spread, between two-year and 20-year bonds narrowed in the past five days from the highest in more than two months.
Read more at Bloomberg Bonds News
The Ministry of Finance put a 2.1 percent payout on the 800 billion yen ($6.7 billion) of 20-year securities it will sell, up from 2 percent at the previous auction last month. The difference in yield, or spread, between two-year and 20-year bonds narrowed in the past five days from the highest in more than two months.
Read more at Bloomberg Bonds News
Australian Dollar Falls After Report Shows Slower Than Expected Inflation
(Bloomberg) -- The Australian dollar fell after a government report showed inflation was slower than forecast in the first quarter, reducing the likelihood of an interest-rate increase next month. Government bonds rose.
The currency bought 82.78 U.S. cents as of 11:38 a.m. in Sydney from 83.25 cents immediately before the report and 83.28 cents late in Asia yesterday.
Read more at Bloomberg Currencies News
The currency bought 82.78 U.S. cents as of 11:38 a.m. in Sydney from 83.25 cents immediately before the report and 83.28 cents late in Asia yesterday.
Read more at Bloomberg Currencies News
Australia's S&P/ASX 200 Index Is Little Changed; Boral Drops, CSLAdvances
(Bloomberg) -- Australia's S&P/ASX 200 Index fell 2.5 points to 6206.7 as of 10:03 a.m. in Sydney. Boral Ltd. dropped, while CSL Ltd. climbed.
To contact the reporter for this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net
Read more at Bloomberg Stocks News
To contact the reporter for this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net
Read more at Bloomberg Stocks News
UPDATE 1-SL Green quarterly FFO rises 88 percent
(Reuters) - The first-quarter FFO included an incentive distribution of $77.2 million from the sale of a Manhattan building, the company said.
Last year, SL Green reported first-quarter FFO of $50.4 million, or $1.08 per share.
Read more at Reuters.com Market News
Last year, SL Green reported first-quarter FFO of $50.4 million, or $1.08 per share.
Read more at Reuters.com Market News
Private equity shows US political tilt, Romney top
(Reuters) - Romney, a former Massachusetts governor and a co-founder of private equity firm Bain Capital, raised $257,525 from buyout professionals in the first quarter of 2007, according to a tally by publication Private Equity Hub. He was followed by two Democrats: Sen. Barack Obama, with $85,350 in donations, and Sen. Hillary Rodham Clinton with $47,900.
Former New York Mayor Rudolph Giuliani, a Republican contender, also raised $47,900, followed by Republican Sen. John McCain with $41,450 in private equity donations, according to a list published at www.pehub.com last week.
Read more at Reuters.com Mergers News
Former New York Mayor Rudolph Giuliani, a Republican contender, also raised $47,900, followed by Republican Sen. John McCain with $41,450 in private equity donations, according to a list published at www.pehub.com last week.
Read more at Reuters.com Mergers News
Ex-HealthSouth CEO settles with SEC
(Reuters) - In all, Scrushy has agreed to pay $81 million to settle charges he directed the company to overstate revenues by at least $2.6 billion, the SEC said.
Scrushy has already paid more than $71 million after court orders in Delaware and Alabama to settle the cases and has now agreed to pay the remaining $10 million, Leach said.
Read more at Reuters.com Business News
Scrushy has already paid more than $71 million after court orders in Delaware and Alabama to settle the cases and has now agreed to pay the remaining $10 million, Leach said.
Read more at Reuters.com Business News
US STOCKS-Indexes fall on oil, mortgage concerns
(Reuters) - The Dow industrials briefly hit an intraday record high of 12,983.92, but stalled in their attempt to breach the 13,000 milestone.
The Dow Jones industrial average was down 42.34 points, or 0.33 percent, at 12,919.64. The Standard & Poor's 500 Index was down 3.35 points, or 0.23 percent, at 1,481.00. The Nasdaq Composite Index was down 2.72 points, or 0.11 percent, at 2,523.67.
Read more at Reuters.com Bonds News
The Dow Jones industrial average was down 42.34 points, or 0.33 percent, at 12,919.64. The Standard & Poor's 500 Index was down 3.35 points, or 0.23 percent, at 1,481.00. The Nasdaq Composite Index was down 2.72 points, or 0.11 percent, at 2,523.67.
Read more at Reuters.com Bonds News
TREASURIES-Bonds advance on U.S. home market worries
(Reuters) - NEW YORK, April 23 - U.S. Treasury debt prices rose in light, choppy trading on Monday, with some safe-haven buying as investors focused on the subprime mortgage crisis ahead of housing data later this week.
With little in the way of significant economic data on Monday, traders cited a report from Moody's Investors Service that losses from risky subprime loans may go beyond original forecasts. That added fuel to the idea that problems in the subprime arena may spill over to hit broader economic growth.
Read more at Reuters.com Bonds News
With little in the way of significant economic data on Monday, traders cited a report from Moody's Investors Service that losses from risky subprime loans may go beyond original forecasts. That added fuel to the idea that problems in the subprime arena may spill over to hit broader economic growth.
Read more at Reuters.com Bonds News
Synovus Financial quarterly profit rises
(Reuters) - Analysts on average expected earnings of 46 cents a share, before exceptional items, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Harsco quarterly earnings rise
(Reuters) - Net income in the first quarter rose to $47.7 million, or 56 cents a share, in the first quarter, from $34.3 million, or 41 cents a share, a year earlier.
Earnings from continuing operations were 54 cents a share, well above analysts' average forecast of 43 cents.
Read more at Reuters.com Market News
Earnings from continuing operations were 54 cents a share, well above analysts' average forecast of 43 cents.
Read more at Reuters.com Market News
Beazer Homes names chief financial officer
(Reuters) - Merrill last served as executive vice president of corporate development and strategy at Move Inc.
Beazer last month said James O'Leary would step down as chief financial officer. He became president and chief executive of Kaydon Corp.
Read more at Reuters.com Bonds News
Beazer last month said James O'Leary would step down as chief financial officer. He became president and chief executive of Kaydon Corp.
Read more at Reuters.com Bonds News
ConocoPhillips, Exxon Mobil, MedImmune, Warner Music: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed on April 20. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
U.S. oil companies may fall after Deutsche Bank AG downgraded its recommendations on shares of Chevron Corp. (CVX US), Exxon Mobil Corp. (XOM US) and ConocoPhillips (COP US), citing their prices relative to the value of their assets.
Read more at Bloomberg Stocks News
U.S. oil companies may fall after Deutsche Bank AG downgraded its recommendations on shares of Chevron Corp. (CVX US), Exxon Mobil Corp. (XOM US) and ConocoPhillips (COP US), citing their prices relative to the value of their assets.
Read more at Bloomberg Stocks News
Kimberly-Clark profit up; keeps year view
(Reuters) - Excluding items, the company earned $1.03 per share. In March, Kimberly-Clark said it expected such adjusted earnings to meet or exceed the high end of a previous forecast of 99 cents to $1.01 per share. Analysts, on average, called for a profit of $1.01 per share, according to Reuters Estimates.
The company's adjusted earnings exclude charges and costs related to cost cutting and restructuring plans. Kimberly-Clark announced its restructuring in July 2005.
Read more at Reuters.com Business News
The company's adjusted earnings exclude charges and costs related to cost cutting and restructuring plans. Kimberly-Clark announced its restructuring in July 2005.
Read more at Reuters.com Business News
Investor morale ebbs in April on gasoline prices-UBS
(Reuters) - Investors were also concerned about the continued deterioration in the housing market, the survey showed.
"Even as the equity markets reach new highs, investors are troubled by fundamental economic issues that directly impact their bottom line, energy prices and real estate," a statement accompanying the UBS/Gallup survey said.
Read more at Reuters.com Economic News
"Even as the equity markets reach new highs, investors are troubled by fundamental economic issues that directly impact their bottom line, energy prices and real estate," a statement accompanying the UBS/Gallup survey said.
Read more at Reuters.com Economic News
US STOCKS-Futures little changed as Dow eyes 13,000
(Reuters) - NEW YORK, April 23 - U.S. stock index futures pointed to a flat market open on Monday at the start of one of the busiest weeks for earnings reports and with the Dow industrials flirting with the 13,000 level.
Biotechnology stocks will be in the spotlight with a trans-Atlantic takeover deal in the works and Amgen Inc. set to report quarterly earnings after the closing bell.
Read more at Reuters.com Bonds News
Biotechnology stocks will be in the spotlight with a trans-Atlantic takeover deal in the works and Amgen Inc. set to report quarterly earnings after the closing bell.
Read more at Reuters.com Bonds News
French Stocks Fall; Societe Generale, BNP Paribas and Dexia Lead the Drop
(Bloomberg) -- French stocks slid, paced by Societe Generale SA, BNP Paribas and Dexia SA.
The CAC 40 Index lost 23.95, or 0.4 percent, to 5914.95 at 2 p.m. in Paris. The SBF 120 Index also declined 0.4 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index lost 23.95, or 0.4 percent, to 5914.95 at 2 p.m. in Paris. The SBF 120 Index also declined 0.4 percent.
Read more at Bloomberg Stocks News
Arch Coal first-quarter profit slips
(Reuters) - Two months ago, Arch cut its 2007 production targets, citing weakness in U.S. coal markets. Chief Executive Officer Steven Leer said at the time that Arch was sending less coal to market because electricity generating plants were maintaining historically high stockpiles of coal -- in some cases as much as 47 days' supply.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Apple, AstraZeneca, Hasbro, MedImmune, Warner Music: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed on April 20. Stock symbols are in parentheses after company names. Share prices are as of 7:30 a.m. New York time.
Apple Inc. (AAPL US): Steve Jobs, chief executive officer and co-founder of the computer and electronics maker, is unlikely to face criminal charges for the alleged backdating of stock options because little or no evidence exists to show he was involved, the San Jose Mercury News reported. Apple shares rose 70 cents to $90.97.
Read more at Bloomberg Stocks News
Apple Inc. (AAPL US): Steve Jobs, chief executive officer and co-founder of the computer and electronics maker, is unlikely to face criminal charges for the alleged backdating of stock options because little or no evidence exists to show he was involved, the San Jose Mercury News reported. Apple shares rose 70 cents to $90.97.
Read more at Bloomberg Stocks News
Three more funds seen entering BCE hunt - report
(Reuters) - The paper said no formal agreement had been signed, but cited a source as saying the additional pension funds would commit C$400 million to C$500 million in total.
These three provincial funds had been regarded as likely candidates to join the Ontario Teachers Pension Plan to create a rival group that would battle the CPP-KKR group for control.
Read more at Reuters.com Mergers News
These three provincial funds had been regarded as likely candidates to join the Ontario Teachers Pension Plan to create a rival group that would battle the CPP-KKR group for control.
Read more at Reuters.com Mergers News
UPDATE 1-Greek Coke bottler to buy Italian vending operator
(Reuters) - CCHBC, the world's second largest bottler of Coke products, said Eurmatik was currently active in all segments of the vending business, including hot and cold beverages, water and snacks.
"This transaction is consistent with our strategy of selectively exploring new channels in order to extend our product reach and diversification, particularly in the high value immediate consumption channel," CCHBC managing director Doros Constantinou said in a statement.
Read more at Reuters.com Mergers News
"This transaction is consistent with our strategy of selectively exploring new channels in order to extend our product reach and diversification, particularly in the high value immediate consumption channel," CCHBC managing director Doros Constantinou said in a statement.
Read more at Reuters.com Mergers News
Platinum Futures Gain to Record in Tokyo as Demand May Increase on ETFs
(Bloomberg) -- Platinum for February delivery rose to a record in Asian trading as exchange-traded funds based on the metal may boost demand after they start trading tomorrow. Palladium was little changed.
ETF Securities Ltd. April 20 said it would list securities backed by commodities, including platinum, on the London Stock Exchange starting tomorrow. Platinum, which rose 4.5 percent last week, gained 2.4 percent on April 20, its biggest advance in almost five months. Palladium gained 2.1 percent last week.
Read more at Bloomberg Commodities News
ETF Securities Ltd. April 20 said it would list securities backed by commodities, including platinum, on the London Stock Exchange starting tomorrow. Platinum, which rose 4.5 percent last week, gained 2.4 percent on April 20, its biggest advance in almost five months. Palladium gained 2.1 percent last week.
Read more at Bloomberg Commodities News
Copper drifts lower as supply threat eases
(Reuters) - Copper prices lost ground on Monday as supply worries eased after a strike in Indonesia ended but analysts said strong Chinese demand and weakening stockpiles still underpin prices.
Copper for three-months delivery on the London Metal Exchange fell to a session low of $7,820 a tonne before recovering to $7,900/7,910 at 0931 GMT, still down around 0.7 percent from Friday.
Read more at Reuters Africa
Copper for three-months delivery on the London Metal Exchange fell to a session low of $7,820 a tonne before recovering to $7,900/7,910 at 0931 GMT, still down around 0.7 percent from Friday.
Read more at Reuters Africa
French CAC Benchmark Index Declines; Societe Generale, BNP Paribas Fall
(Bloomberg) -- French stocks slid, paced by Societe Generale SA, BNP Paribas and Dexia SA.
The CAC 40 Index lost 27.84, or 0.5 percent, to 5911.06 at 11:33 a.m. in Paris. The SBF 120 Index declined 0.4 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index lost 27.84, or 0.5 percent, to 5911.06 at 11:33 a.m. in Paris. The SBF 120 Index declined 0.4 percent.
Read more at Bloomberg Stocks News
U.S. Treasuries Are Little Changed Before Reports on GDP, Factory Orders
(Bloomberg) -- U.S. Treasuries were little changed before reports on gross domestic product, factory orders and consumer confidence that will provide Federal Reserve policy makers with further clues on the strength of the economy.
Traders have trimmed bets the Fed will cut interest rates at its Aug. 7 meeting. Government reports this week will show economic growth slowed to an annualized 1.8 percent in the first quarter from 2.5 percent in the previous quarter and factory orders gained in March.
Read more at Bloomberg Bonds News
Traders have trimmed bets the Fed will cut interest rates at its Aug. 7 meeting. Government reports this week will show economic growth slowed to an annualized 1.8 percent in the first quarter from 2.5 percent in the previous quarter and factory orders gained in March.
Read more at Bloomberg Bonds News
U.S. Stock-Index Futures Drop; Texas Instruments, Chevron Fall in Europe
(Bloomberg) -- U.S. stock-index futures declined on speculation earnings may not justify share prices that sent the Dow Jones Industrial Average to a record close.
``Investors who don't believe the market will rise far beyond these highs, and people bearish on the economy are taking profits,'' said Juergen Lukasser, who helps manage $20 billion as head of equities at Constantia Privatbank AG in Vienna.
Read more at Bloomberg Stocks News
``Investors who don't believe the market will rise far beyond these highs, and people bearish on the economy are taking profits,'' said Juergen Lukasser, who helps manage $20 billion as head of equities at Constantia Privatbank AG in Vienna.
Read more at Bloomberg Stocks News
Dutch FinMin to study Barclays, ABN AMRO merger
(Reuters) - "At the centre of the minister's consideration will be the question of whether the merger could lead to undesired developments within the Dutch financial sector."
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Central European Stocks Including Verbund Advance; Magyar Telekom Falls
(Bloomberg) -- Central European shares including Verbund, Austria's largest power company, gained. Magyar Telekom Nyrt. and Telefonica O2 Czech Republic AS led declining stocks.
Budimex SA advanced after Deutsche Bank recommended buying shares of the biggest builder in Poland.
Read more at Bloomberg Emerging Markets News
Budimex SA advanced after Deutsche Bank recommended buying shares of the biggest builder in Poland.
Read more at Bloomberg Emerging Markets News
European stocks dip early, Barclays, Astra deals weigh
(Reuters) - At 0813 GMT the FTSEurofirst 300 index of top European shares was down 0.14 percent at 1,577.90 points, reversing earlier gains, and mirroring losses in Britain and France. Frankfurt's DAX was down 0.2 percent.
British bank Barclays fell 2.5 percent, topping losers on the FTSE 100, after saying it was buying Dutch bank ABN AMRO for over 67 billion euros. ABN rose 0.7 percent.
Read more at Reuters.com Hot Stocks News
British bank Barclays fell 2.5 percent, topping losers on the FTSE 100, after saying it was buying Dutch bank ABN AMRO for over 67 billion euros. ABN rose 0.7 percent.
Read more at Reuters.com Hot Stocks News
China shares up 3.5 pct to record in hectic trade
(Reuters) - Turnover in Shanghai A shares was massive at 182.1 billion yuan , up from Friday's 155.1 billion yuan and near a record 186.7 billion yuan hit last Thursday.
The index sank 4.52 percent on Thursday after March inflation rose to 3.3 percent from February's 2.7 percent, threatening to prompt another interest rate hike and triggering a wave of profit-taking. The index is up 29 percent since end-February.
Read more at Reuters.com Hot Stocks News
The index sank 4.52 percent on Thursday after March inflation rose to 3.3 percent from February's 2.7 percent, threatening to prompt another interest rate hike and triggering a wave of profit-taking. The index is up 29 percent since end-February.
Read more at Reuters.com Hot Stocks News
UPDATE 2-Carrefour to buy Brazil's Atacadao for $1.12 bln
(Reuters) - PARIS, April 23 - Carrefour , the world's second-largest retailer, is to buy Brazilian discount megastore company Atacadao for 825 million euros , making it the country's leading grocer by sales.
Chief Executive Jose Luis Duran told an analyst conference call on Monday he expected synergies from the agreed takeover to be significant, thanks to Atacadao's lower cost base, and to enable the group to accelerate underlying sales growth in due time.
Read more at Reuters.com Mergers News
Chief Executive Jose Luis Duran told an analyst conference call on Monday he expected synergies from the agreed takeover to be significant, thanks to Atacadao's lower cost base, and to enable the group to accelerate underlying sales growth in due time.
Read more at Reuters.com Mergers News
Kenya's tea production more than doubles in Q1 2007
(Reuters) - Kenya's tea production rose by 119 percent to 108 million kg in the first quarter of 2007 compared with the same period in the previous year following good rains, the Tea Board of Kenya said on Monday.
Output in the first quarter of 2006 was a mere 49 million kg due to a devastating drought during the time.
Read more at Reuters Africa
Output in the first quarter of 2006 was a mere 49 million kg due to a devastating drought during the time.
Read more at Reuters Africa
UPDATE 2-AstraZeneca to buy MedImmune for $15 billion
(Reuters) - The acquisition, announced on Monday, is the boldest move yet by Chief Executive David Brennan, who has been seeking to bolster the company's drug portfolio following a series of product setbacks.
AstraZeneca said the agreed, all-cash deal, which was reported earlier by a source close to the situation, was expected to close in June 2007.
Read more at Reuters.com Market News
AstraZeneca said the agreed, all-cash deal, which was reported earlier by a source close to the situation, was expected to close in June 2007.
Read more at Reuters.com Market News
U.K. Stocks Advance, Led by Barclays, Scottish & Newcastle and Vodafone
(Bloomberg) -- U.K. stocks advanced, paced by Barclays Plc. Britain's third-largest bank agreed to buy ABN Amro Holding NV for 67 billion euros ($91 billion) in the world's biggest-ever financial-services takeover.
Scottish & Newcastle Plc rose after the Financial Times reported that SAB Miller Plc and Diageo Plc would consider breaking the company up, citing an unidentified person familiar with the situation.
Read more at Bloomberg Stocks News
Scottish & Newcastle Plc rose after the Financial Times reported that SAB Miller Plc and Diageo Plc would consider breaking the company up, citing an unidentified person familiar with the situation.
Read more at Bloomberg Stocks News
JGB futures edge up as stocks give up early gains
(Reuters) - But two-year yields edged up to match a nine-month high of 0.855 percent as investors believe the market is not fully reflecting the risk of the Bank of Japan lifting interest rates later in the year if growth stays solid.
Market players shrugged off Standard & Poor's upgrading of Japan's sovereign rating to AA from AA-minus, citing an improving government fiscal position. [nT345713]
Read more at Reuters.com Bonds News
Market players shrugged off Standard & Poor's upgrading of Japan's sovereign rating to AA from AA-minus, citing an improving government fiscal position. [nT345713]
Read more at Reuters.com Bonds News
Barclays agrees $91 bln ABN buy, to sell LaSalle
(Reuters) - Barclays said on Monday it would pay 3.225 new shares for each ABN AMRO share, equivalent to 36.25 euros a share at Friday's closing price, to create a banking giant with 47 million customers and the world's biggest institutional asset manager.
The price, which includes the declared 2006 final dividend for ABN shareholders, is slightly higher than many analysts were expecting. But Barclays also said it had also agreed to sell ABN's Chicago-based U.S. bank LaSalle to Bank of America for $21 billion, conditional upon its purchase of ABN.
Read more at Reuters.com Market News
The price, which includes the declared 2006 final dividend for ABN shareholders, is slightly higher than many analysts were expecting. But Barclays also said it had also agreed to sell ABN's Chicago-based U.S. bank LaSalle to Bank of America for $21 billion, conditional upon its purchase of ABN.
Read more at Reuters.com Market News
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