(Reuters) - Zimbabwe's delayed tobacco selling season began slowly on Tuesday, after a showdown between President Robert Mugabe's government and farmers arguing that a skewed exchange rate made it unprofitable to grow the crop.
Farmers have complained that the official exchange rate, fixed at 250 Zimbabwean dollars to the U.S. dollar since August last year, grossly undervalues the value of their products. The greenback fetches about 25,000 Zimbabwean dollars on a thriving black market in the southern African nation.
Read more at Reuters Africa
Tuesday, April 24, 2007
Taiwan ASE's Q1 net profit down 91.6 pct from yr ago
(Reuters) - The profit was lower than T$3.182 billion in the same period a year earlier and T$2.734 billion in the fourth quarter.
The result missed a mean forecast of T$2.472 billion from 8 analysts surveyed by Reuters Estimates.
Read more at Reuters.com Market News
The result missed a mean forecast of T$2.472 billion from 8 analysts surveyed by Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Reuters Q1 underlying revenue rises 6.5 pct
(Reuters) - Reuters said on Wednesday its first-quarter revenue was 626 million pounds , compared with 633 million pounds a year ago and 558 million in 2005.
Underlying revenue growth was 6.5 percent, compared with 4 percent a year ago. The company's Core Plus growth strategy contributed two percentage points to the revenue growth figure.
Read more at Reuters.com Market News
Underlying revenue growth was 6.5 percent, compared with 4 percent a year ago. The company's Core Plus growth strategy contributed two percentage points to the revenue growth figure.
Read more at Reuters.com Market News
Oil steady, traders braced for US gasoline draw
(Reuters) - Oil prices were steady on Wednesday after profit-taking knocked them lower a day ago, with traders awaiting U.S. data that is expected to show an 11th consecutive weekly fall in gasoline stocks.
London Brent crude, for the moment seen as a more accurate reflection of world oil prices than U.S. crude, rose 15 cents to $67.31 at 0225 GMT after a 99-cent drop the day before. U.S. crude edged up 1 cent to $64.59.
Read more at Reuters Africa
London Brent crude, for the moment seen as a more accurate reflection of world oil prices than U.S. crude, rose 15 cents to $67.31 at 0225 GMT after a 99-cent drop the day before. U.S. crude edged up 1 cent to $64.59.
Read more at Reuters Africa
German Confidence Index Probably Rose, Signaling Faster Pace of Expansion
(Bloomberg) -- German business confidence probably rose for a second month in April, indicating growth in Europe's largest economy may accelerate, a survey of economists shows.
The Ifo institute's sentiment index, based on responses from 7,000 executives, increased to 107.9 from 107.7 in March, according to the median of 45 forecasts in a Bloomberg News survey. The index reached 108.7 in December, the highest since records for a reunified Germany began in 1991. Munich-based Ifo will release the report at 10 a.m. today.
Read more at Bloomberg Bonds News
The Ifo institute's sentiment index, based on responses from 7,000 executives, increased to 107.9 from 107.7 in March, according to the median of 45 forecasts in a Bloomberg News survey. The index reached 108.7 in December, the highest since records for a reunified Germany began in 1991. Munich-based Ifo will release the report at 10 a.m. today.
Read more at Bloomberg Bonds News
Air Liquide, Boiron, Bull, LVMH, Michelin, Valeo: 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 lost 31.29, or 0.5 percent, to 5886.03. The SBF 120 Index dropped 0.6 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index lost 31.29, or 0.5 percent, to 5886.03. The SBF 120 Index dropped 0.6 percent.
Read more at Bloomberg Stocks News
Amazon.com, Asset Acceptance, Darden, Ezcorp, Zoran: 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 yesterday. Stock symbols are in parentheses after company names.
Asset Acceptance Capital Corp. (AACC US) rose $1.86, or 12 percent, to $18 in extended trading yesterday. The debt- collecting company will return $150 million to shareholders through a stock repurchase and a special dividend, the company said in a securities filing.
Read more at Bloomberg Stocks News
Asset Acceptance Capital Corp. (AACC US) rose $1.86, or 12 percent, to $18 in extended trading yesterday. The debt- collecting company will return $150 million to shareholders through a stock repurchase and a special dividend, the company said in a securities filing.
Read more at Bloomberg Stocks News
CORRECTED - CORRECTED-Chile's Soquimich Q1 profit rises 25.3 pct
(Reuters) - Santiago-based SQM said profit for the Jan-March period rose to $42.96 million, from $34.28 million in the first quarter last year.
SQM is jointly controlled by Chilean Julio Ponce, Norway's Yara International and Canada's Potash Corp. of Saskatchewan .
Read more at Reuters.com Market News
SQM is jointly controlled by Chilean Julio Ponce, Norway's Yara International and Canada's Potash Corp. of Saskatchewan .
Read more at Reuters.com Market News
Dai-ichi Life Plans to Increase Investment in Japanese Long-Term Bonds
(Bloomberg) -- Dai-ichi Mutual Life Insurance Co., Japan's second-largest life insurer, said it plans to boost holdings of domestic bonds by ``several hundred billion yen'' in the fiscal year started April 1.
The company will buy more 10-, 20- and 30-year bonds to lengthen the average maturity of its yen debt assets should yields rise, said Kazuhiko Ibuki, a manager in the investment planning department. Overseas bond purchases will be unchanged, he said.
Read more at Bloomberg Bonds News
The company will buy more 10-, 20- and 30-year bonds to lengthen the average maturity of its yen debt assets should yields rise, said Kazuhiko Ibuki, a manager in the investment planning department. Overseas bond purchases will be unchanged, he said.
Read more at Bloomberg Bonds News
U.S. Notes May Rise on Speculation Fed's Beige Book to Show Slower Growth
(Bloomberg) -- U.S. Treasuries may rise for a third day on speculation a Federal Reserve report later today will show slowing in the economy.
Ten-year yields fell to the lowest this month after an industry report yesterday said existing-home sales tumbled in March, feeding expectations a cooling in housing will slow consumer spending. Yields on two-year notes, among the most sensitive to central bank rate expectations, declined as traders increased bets the Fed will cut borrowing costs.
Read more at Bloomberg Bonds News
Ten-year yields fell to the lowest this month after an industry report yesterday said existing-home sales tumbled in March, feeding expectations a cooling in housing will slow consumer spending. Yields on two-year notes, among the most sensitive to central bank rate expectations, declined as traders increased bets the Fed will cut borrowing costs.
Read more at Bloomberg Bonds News
Colombian Senate committee OKs transfer bill
(Reuters) - Local mayors and governors are lobbying Congress against the proposed constitutional amendment, which would limit central government cash transfers to a maximum yearly increase of 5 percent plus the inflation rate.
Colombia's 1991 constitution says the government must transfer nearly half of all tax revenue increases to towns and provinces.
Read more at Reuters.com Bonds News
Colombia's 1991 constitution says the government must transfer nearly half of all tax revenue increases to towns and provinces.
Read more at Reuters.com Bonds News
FCC to unveil auction plan on Wednesday
(Reuters) - The agency plans to auction airwaves later this year that are being returned by television broadcasters as they move to digital signals early in 2009.
The sale is touted as the last opportunity for new players to enter the wireless market and is expected to raise billions of dollars.
Read more at Reuters.com Bonds News
The sale is touted as the last opportunity for new players to enter the wireless market and is expected to raise billions of dollars.
Read more at Reuters.com Bonds News
Canon, Elpida, Fanuc Nikko Cordial, KDDI, Oki Paper: Japan Equity Preview
(Bloomberg) -- The following stocks may move in Japanese markets tomorrow. Prices are as of the close of trading today. Statements were released after the close. Stock symbols are in parentheses.
Canon Inc. (7751 JT): The world's largest maker of digital cameras posted a record first-quarter profit and raised its net income forecast on sales of EOS cameras and color copiers. Net income climbed 21 percent to 131.3 billion yen ($1.1 billion), from 108.3 billion yen a year earlier, the company said in a statement. Sales gained 13 percent to 1.04 trillion yen. The stock rose 100 yen, or 1.5 percent, to 6,660.
Read more at Bloomberg Stocks News
Canon Inc. (7751 JT): The world's largest maker of digital cameras posted a record first-quarter profit and raised its net income forecast on sales of EOS cameras and color copiers. Net income climbed 21 percent to 131.3 billion yen ($1.1 billion), from 108.3 billion yen a year earlier, the company said in a statement. Sales gained 13 percent to 1.04 trillion yen. The stock rose 100 yen, or 1.5 percent, to 6,660.
Read more at Bloomberg Stocks News
Taiwan's Looming Power Shortage May Be a Bigger Threat Than China Missiles
(Bloomberg) -- China's missiles may not be the biggest danger to Taiwan. An impending power shortage could cause blackouts within three years and weaken the nation's economy.
Power production is failing to keep pace with demand because of a ban on new nuclear plants and delays in completing projects already underway, says Jeffrey Bor, a fellow at the Chung-hua Institution for Economic Research, which advises the government.
Read more at Bloomberg Exclusive News
Power production is failing to keep pace with demand because of a ban on new nuclear plants and delays in completing projects already underway, says Jeffrey Bor, a fellow at the Chung-hua Institution for Economic Research, which advises the government.
Read more at Bloomberg Exclusive News
HP to buy Logoworks operator Arteis
(Reuters) - HP said its acquisition of Logoworks' technology and services would give the computer and printer maker an opportunity to offer small businesses access to professional design solutions at a fraction of market cost.
The sale is slated to close in HP's fiscal third quarter ending July.
Read more at Reuters.com Mergers News
The sale is slated to close in HP's fiscal third quarter ending July.
Read more at Reuters.com Mergers News
GLOBAL MARKETS-Wall Street, dollar sag on U.S. housing data
(Reuters) - NEW YORK, April 24 - The sharpest monthly decline in U.S. homes sales in nearly two decades pushed stock prices lower and weighed on the dollar on Tuesday, giving investors fresh cause for concern about the health of the U.S. economy.
European shares also weakened, but U.S. Treasury debt prices climbed on the view that an ongoing housing slump would prompt the Federal Reserve to cut benchmark interest rates this year.
Read more at Reuters.com Bonds News
European shares also weakened, but U.S. Treasury debt prices climbed on the view that an ongoing housing slump would prompt the Federal Reserve to cut benchmark interest rates this year.
Read more at Reuters.com Bonds News
UPDATE 2-Telekom Austria to raise debt for returns, growth
(Reuters) - VIENNA, April 24 - Telekom Austria will continue to pay out two-thirds of its profit as dividends in the next four years, and will raise fresh debt to fund investments on the Balkans and share buybacks, it said on Tuesday.
New Chief Financial Officer Hans Tschuden told fund managers and analysts at a meeting in the Croatian seaside resort Dubrovnik he planned to pay out 1.4 billion euros in dividends from 2007 to 2010, keeping the payout ratio at 65 percent of net profit.
Read more at Reuters.com Bonds News
New Chief Financial Officer Hans Tschuden told fund managers and analysts at a meeting in the Croatian seaside resort Dubrovnik he planned to pay out 1.4 billion euros in dividends from 2007 to 2010, keeping the payout ratio at 65 percent of net profit.
Read more at Reuters.com Bonds News
UPDATE 2-Bank of Canada holds rates, flags inflation risk
(Reuters) - OTTAWA, April 24 - The Bank of Canada held its key lending rate unchanged at 4.25 percent on Tuesday and declined to hint at any rate rises ahead, even though it cautioned that inflation had sped higher than it had expected.
The Bank of Canada now sees inflation taking longer to return to the bank's 2 percent target, citing hikes in food and gasoline prices, and said the economy ran at just above its capacity in the first quarter of this year.
Read more at Reuters.com Bonds News
The Bank of Canada now sees inflation taking longer to return to the bank's 2 percent target, citing hikes in food and gasoline prices, and said the economy ran at just above its capacity in the first quarter of this year.
Read more at Reuters.com Bonds News
BJ Services earnings slip on softer prices, Canada
(Reuters) - Earnings per share rose to 64 cents from 62 cents because of a decline in outstanding shares.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Steel Technologies quarterly earnings slip
(Reuters) - The company said it remains on track to complete the merger by the end of the current quarter.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Parker Hannifin profit rises, beats expectations
(Reuters) - Analysts, on average, had expected profit of $1.64 per share, according to Reuters Estimates.
Sales rose 11.3 percent to $2.8 billion, compared with Wall Street forecasts for sales of $2.66 billion.
Read more at Reuters.com Market News
Sales rose 11.3 percent to $2.8 billion, compared with Wall Street forecasts for sales of $2.66 billion.
Read more at Reuters.com Market News
DuPont reports higher first-quarter earnings
(Reuters) - Profit increased to $945 million or $1.01 a share, from $817 million, or 88 cents a share, a year earlier.
DuPont reported quarterly earnings of $1.07 a share, excluding a 6 cent per share charge related to an increase in an existing litigation reserve.
Read more at Reuters.com Market News
DuPont reported quarterly earnings of $1.07 a share, excluding a 6 cent per share charge related to an increase in an existing litigation reserve.
Read more at Reuters.com Market News
UPDATE 1-Mothers Work 2nd-qtr earnings rise, sales fall
(Reuters) - The Philadelphia-based company posted second-quarter earnings of $2.6 million, or 41 cents a share, compared with $0.5 million, or 9 cents a share, a year ago.
Net sales fell 0.5 percent to $143.9 million and same-store sales decreased 1.6 percent due to significantly colder weather in January and February, the company said.
Read more at Reuters.com Market News
Net sales fell 0.5 percent to $143.9 million and same-store sales decreased 1.6 percent due to significantly colder weather in January and February, the company said.
Read more at Reuters.com Market News
REFILE-UPDATE 1-CP Rail posts higher profit, to buy back shares
(Reuters) - CP plans to buy back up to 15.5 million of its outstanding common shares for cancellation, representing about 10 percent of the public float.
The company said it had net earnings of C$128.6 million , or 82 Canadian cents per share, in the first three months of 2007. That compares with a profit of C$108.8 million, or 69 Canadian cents per share, in the same quarter a year earlier.
Read more at Reuters.com Market News
The company said it had net earnings of C$128.6 million , or 82 Canadian cents per share, in the first three months of 2007. That compares with a profit of C$108.8 million, or 69 Canadian cents per share, in the same quarter a year earlier.
Read more at Reuters.com Market News
UPDATE 1-Rayonier first-quarter earnings rise
(Reuters) - Net income rose to $35.1 million, or 45 cents per share, from $23.2 million, or 30 cents per share, in the year-earlier period.
Analysts on average had expected the company to earn 30 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had expected the company to earn 30 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
BNSF sees Q2 freight revenue growth of 5 pct to 6 pct
(Reuters) - Pricing remains firm and the outlook for hauling coal in the second quarter is positive, BNSF said.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-McGraw-Hill profit rises with Standard & Poor's
(Reuters) - The company, which also publishes BusinessWeek magazine, said first-quarter net income rose to $143.8 million, or 40 cents a share, from $74.2 million, or 20 cents a share, a year ago.
Results for the 2007 quarter included a gain of 3 cents per share from the sale of a mutual fund data business in March, while year-ago results included a one-time charge of 4 cents per share for a stock option program.
Read more at Reuters.com Market News
Results for the 2007 quarter included a gain of 3 cents per share from the sale of a mutual fund data business in March, while year-ago results included a one-time charge of 4 cents per share for a stock option program.
Read more at Reuters.com Market News
Coach 3rd-quarter profit rises on new products
(Reuters) - NEW YORK, April 24 - Handbag and accessories maker Coach Inc. said on Tuesday that quarterly profit rose 38 percent, helped by new handbag styles and the launch of a fragrance.
Coach, which also sells handbags, accessories, travel products and shoes, posted net income of $150 million, or 40 cents per share, for its fiscal third quarter, ended March 31, compared with $108.8 million, or 28 cents per share, a year ago.
Read more at Reuters.com Market News
Coach, which also sells handbags, accessories, travel products and shoes, posted net income of $150 million, or 40 cents per share, for its fiscal third quarter, ended March 31, compared with $108.8 million, or 28 cents per share, a year ago.
Read more at Reuters.com Market News
UPDATE 1-Paccar profit rises on European strength
(Reuters) - The company, which makes trucks under the Kenworth, Peterbilt and DAF names, said its first-quarter net profit rose nearly 7 percent to $365.6 million, or $1.46 a share, compared with $342.0 million or $1.35.
Revenue rose 3 percent to $3.98 billion.
Read more at Reuters.com Market News
Revenue rose 3 percent to $3.98 billion.
Read more at Reuters.com Market News
Lexmark qtr profit, outlook miss expectations
(Reuters) - NEW YORK, April 24 - Computer printer maker Lexmark International Inc. said on Tuesday quarterly profit rose 7 percent but the results and its outlook missed Wall Street expectations, sending shares down 4 percent.
Sales of equipment Lexmark made for other brands continued to be weak in the first quarter, which also saw a decline in sales of inkjet supplies, and aggressive hardware pricing in the laser and inkjet markets, the company said.
Read more at Reuters.com Market News
Sales of equipment Lexmark made for other brands continued to be weak in the first quarter, which also saw a decline in sales of inkjet supplies, and aggressive hardware pricing in the laser and inkjet markets, the company said.
Read more at Reuters.com Market News
Energizer's quarterly profit rises
(Reuters) - Profit was $66.6 million, or $1.14 per share, in the fiscal second quarter that ended March 31, compared with a profit of $50 million, or 78 cents per share, a year earlier.
The company said the latest quarter included a charge of 5 cents per share for restructuring projects in Europe.
Read more at Reuters.com Market News
The company said the latest quarter included a charge of 5 cents per share for restructuring projects in Europe.
Read more at Reuters.com Market News
Gold and Silver, Little Changed in New York, May Fall on Dollar's Outlook
(Bloomberg) -- Gold and silver, little changed in New York, may fall on speculation a steady U.S. dollar will reduce the appeal of precious metals as an alternative investment.
Gold often moves in the opposite direction of the U.S. currency, which is little changed against the euro this week after four straight weekly declines. Before today, gold had climbed 8.8 percent this year while the euro had gained 2.9 percent against the dollar.
Read more at Bloomberg Commodities News
Gold often moves in the opposite direction of the U.S. currency, which is little changed against the euro this week after four straight weekly declines. Before today, gold had climbed 8.8 percent this year while the euro had gained 2.9 percent against the dollar.
Read more at Bloomberg Commodities News
European Stocks Fall, Paced by Danone, Yell on Sales; AstraZeneca Drops
(Bloomberg) -- European stocks dropped for a second day after Groupe Danone SA, the world's largest yogurt maker, reported sales that trailed some analysts' forecasts and Yell Group Plc said U.S. revenue growth will slow.
AstraZeneca Plc fell after the drugmaker said it may borrow $15 billion for an acquisition and ING Wholesale Bank recommended selling the shares. Astroc Mediterraneo SA led a retreat by Spanish property-related companies on concern the country's real-estate market may have peaked.
Read more at Bloomberg Stocks News
AstraZeneca Plc fell after the drugmaker said it may borrow $15 billion for an acquisition and ING Wholesale Bank recommended selling the shares. Astroc Mediterraneo SA led a retreat by Spanish property-related companies on concern the country's real-estate market may have peaked.
Read more at Bloomberg Stocks News
Liberia assembly ratifies $1 bln Mittal iron deal
(Reuters) - Liberia's lower house of parliament has ratified a $1 billion iron ore mining project signed with the world's largest steel producer Arcelor Mittal, Mines Minister Eugene Shannon said on Tuesday.
"They have ratified it and will submit it to the Senate for concurrence. Once that is done, then Mittal will have the green light to operate," Shannon told Reuters.
Read more at Reuters Africa
"They have ratified it and will submit it to the Senate for concurrence. Once that is done, then Mittal will have the green light to operate," Shannon told Reuters.
Read more at Reuters Africa
UPDATE 1-IMF urges China to raise rates, let yuan climb
(Reuters) - Charles Collyns, deputy director of the IMF's research department, said China needed to rely more on monetary policy in order to rebalance its economy and sustain the rapid growth rates recorded in recent years.
"Allowing the exchange rate to appreciate more quickly would provide more room for monetary policy to operate in a timely fashion," Collyns said in a statement issued at a news conference.
Read more at Reuters.com Bonds News
"Allowing the exchange rate to appreciate more quickly would provide more room for monetary policy to operate in a timely fashion," Collyns said in a statement issued at a news conference.
Read more at Reuters.com Bonds News
Germany's DAX Index Declines; Siemens, Allianz Shares Pace the Slide
(Bloomberg) -- Germany's benchmark stock index fell for a second day, paced by Siemens AG after a report that supervisory board members are considering replacing Chief Executive Officer Klaus Kleinfeld. Allianz SE also declined.
The benchmark DAX Index lost 32.60, or 0.4 percent, to 7303.02 as of 10:43 a.m. in Frankfurt. DAX Futures expiring in June dropped or 0.4 percent. The HDAX Index of the country's 110 biggest companies retreated 0.5 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index lost 32.60, or 0.4 percent, to 7303.02 as of 10:43 a.m. in Frankfurt. DAX Futures expiring in June dropped or 0.4 percent. The HDAX Index of the country's 110 biggest companies retreated 0.5 percent.
Read more at Bloomberg Stocks News
FACTBOX: Challenges of mining in geologically rich Indonesia
(Reuters) - INVESTMENT:
-- Mining investments in Indonesia, home to some of the world's largest deposits of coal, copper, tin, nickel and gold, averaged some $800 million annually from 2001 to 2005.
Read more at Reuters.com Business News
-- Mining investments in Indonesia, home to some of the world's largest deposits of coal, copper, tin, nickel and gold, averaged some $800 million annually from 2001 to 2005.
Read more at Reuters.com Business News
GLOBAL MARKETS-Carry trade in question, oil rises, stocks slip
(Reuters) - Oil prices were above $68 a barrel with traders nervous about possible further disruption to Nigerian output following controversial election results.
The Australian dollar fell around one percent against both the yen and the U.S. dollar and weakened the high-flying New Zealand currency, bringing the carry trade into question.
Read more at Reuters.com Bonds News
The Australian dollar fell around one percent against both the yen and the U.S. dollar and weakened the high-flying New Zealand currency, bringing the carry trade into question.
Read more at Reuters.com Bonds News
AB Foods H1 up, Primark and sugar to drive H2
(Reuters) - LONDON, April 24 - Associated British Foods Plc , owner of Primark discount clothes stores and the Silver Spoon sugar refiner, posted a 5 percent rise in half-year profit on Tuesday and forecast further growth in its second half.
The London-based food and retailing group, 55 percent owned by the family of its Chief Executive George Weston, reported adjusted pretax profit of 268 million pounds
Read more at Reuters.com Mergers News
The London-based food and retailing group, 55 percent owned by the family of its Chief Executive George Weston, reported adjusted pretax profit of 268 million pounds
Read more at Reuters.com Mergers News
UPDATE 2-OMX Q1 profit just below forecast, mum on mergers
(Reuters) - STOCKHOLM, April 24 - Stock exchange group OMX reported first-quarter operating earnings just below market expectations on Tuesday, but was tight-lipped on any tie-up talks with other bourses.
OMX said this month it was in cooperation talks with several exchanges, but had not received any bids, after Swedish media reported it was in talks with U.S. exchange Nasdaq .
Read more at Reuters.com Market News
OMX said this month it was in cooperation talks with several exchanges, but had not received any bids, after Swedish media reported it was in talks with U.S. exchange Nasdaq .
Read more at Reuters.com Market News
Toyota inches past GM in Q1 global vehicle sales
(Reuters) - Toyota, maker of the Camry sedan -- the United States' most popular car -- said on Tuesday its global vehicle sales rose 9 percent in the quarter to 2.35 million units.
That compared with 2.26 million units, up 3 percent, for GM, which sells cars and trucks under a dozen brands including Chevrolet, Buick, GMC, Cadillac, Opel and Saab.
Read more at Reuters.com Business News
That compared with 2.26 million units, up 3 percent, for GM, which sells cars and trucks under a dozen brands including Chevrolet, Buick, GMC, Cadillac, Opel and Saab.
Read more at Reuters.com Business News
FTSE edges up in flurry of results; Yell weighs
(Reuters) - The FTSE 100 of Britain's leading shares edged up on Tuesday, as Aviva supported but Yell Group fell sharply on a busy day on the corporate calendar.
At 0731 GMT, the UK's leading share index was 10.9 points, or 0.17 percent, higher at 6,490.6.
Read more at Reuters Africa
At 0731 GMT, the UK's leading share index was 10.9 points, or 0.17 percent, higher at 6,490.6.
Read more at Reuters Africa
Elan Q1 loss doubled but MS drug keeps on track
(Reuters) - DUBLIN, April 24 - Drug-maker Elan Corp posted a wider-than-expected first-quarter loss on Tuesday after repaying debt but said it was on track to meet full-year goals thanks to a new multiple sclerosis treatment.
"The net loss increased, mainly due to a charge in respect of the early retirement of debt this quarter and the inclusion of a gain on the sale of EU rights to Prialt in 2006," Chief Financial Officer Shane Cooke said in a statement.
Read more at Reuters.com Market News
"The net loss increased, mainly due to a charge in respect of the early retirement of debt this quarter and the inclusion of a gain on the sale of EU rights to Prialt in 2006," Chief Financial Officer Shane Cooke said in a statement.
Read more at Reuters.com Market News
Altech full-year profit up 10 pct
(Reuters) - South African technology firm Allied Technologies (Altech) lifted full-year headline earnings per share by 10 percent and said on Tuesday it expected real growth in the current year.
Altech said headline EPS -- the key profit measure for South African firms, which excludes non-trading, capital and certain extraordinary items -- rose to 418 cents, while revenue increased 12 percent to 6.8 billion rand.
Read more at Reuters Africa
Altech said headline EPS -- the key profit measure for South African firms, which excludes non-trading, capital and certain extraordinary items -- rose to 418 cents, while revenue increased 12 percent to 6.8 billion rand.
Read more at Reuters Africa
European Bonds Gain for Second Day; 10-Year Yield Falls to 4.15 Percent
(Bloomberg) -- European 10-year government bonds advanced for a second day in London.
The yield on the benchmark 10-year German bund fell 3 basis points to 4.15 by 8:16 a.m. in London, near its lowest in a week. The price of the 3.75 percent bond due January 2017 rose 0.19, or 1.9 euros per 1,000 euro ($1,358) face amount, to 96.85. Bond yields move inversely to prices.
Read more at Bloomberg Bonds News
The yield on the benchmark 10-year German bund fell 3 basis points to 4.15 by 8:16 a.m. in London, near its lowest in a week. The price of the 3.75 percent bond due January 2017 rose 0.19, or 1.9 euros per 1,000 euro ($1,358) face amount, to 96.85. Bond yields move inversely to prices.
Read more at Bloomberg Bonds News
European Stocks Including AstraZeneca, Alcatel Drop; STM Shares Advance
(Bloomberg) -- European stocks including AstraZeneca Plc and Siemens AG declined. Brokerages lowered their recommendations on the companies' shares.
Alcatel-Lucent, the world's largest maker of telecommunications equipment, retreated after posting an operating loss. STMicroelectronics NV paced gains by chipmakers after Texas Instruments Inc. forecast earnings that beat analysts' estimates. Yell Group Plc tumbled 15 percent after the publisher of Britain's Yellow Pages phone books said its U.S. revenue growth will slow this year.
Read more at Bloomberg Stocks News
Alcatel-Lucent, the world's largest maker of telecommunications equipment, retreated after posting an operating loss. STMicroelectronics NV paced gains by chipmakers after Texas Instruments Inc. forecast earnings that beat analysts' estimates. Yell Group Plc tumbled 15 percent after the publisher of Britain's Yellow Pages phone books said its U.S. revenue growth will slow this year.
Read more at Bloomberg Stocks News
Vale Restarts Talks With China's Baosteel on $4 Billion Steel Slab Plant
(Bloomberg) -- Cia. Vale do Rio Doce, the world's largest iron ore exporter, restarted talks with Baosteel Group Corp. on a steel slab plant in Brazil that may cost as much as $4 billion after a pro-industry party won a state election.
Baosteel, China's biggest steelmaker, will provide 80 to 90 percent of the funding for the $3 billion to $4 billion proposed plant in Maranhao province, Pedro Gutemberg, director of ferrous technology at Vale, said today in an interview in Beijing.
Read more at Bloomberg Emerging Markets News
Baosteel, China's biggest steelmaker, will provide 80 to 90 percent of the funding for the $3 billion to $4 billion proposed plant in Maranhao province, Pedro Gutemberg, director of ferrous technology at Vale, said today in an interview in Beijing.
Read more at Bloomberg Emerging Markets News
AB Foods to open more Spanish stores, no plans to float
(Reuters) - "Primark's success comes because of ABF, not in spite of it. We have no plan to float it off," said Chief Executive George Weston in an interview after first-half results.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Alcatel Lucent Q1 prelim sales 3.9 bln euros
(Reuters) - The unaudited figure compares with a market consensus forecast of some 4.05 billion euros held by Reuters Estimates.
The recently merged French-American telecoms equipment group said it expected to post an adjusted operating loss of some 260 million euros in the first quarter, half of which would be attributed to significant items.
Read more at Reuters.com Market News
The recently merged French-American telecoms equipment group said it expected to post an adjusted operating loss of some 260 million euros in the first quarter, half of which would be attributed to significant items.
Read more at Reuters.com Market News
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