(Reuters) - The market had expected the company to report pretax profit of 21.6 million pounds on revenues of 67.4 million, according to average forecasts in a poll of 17 analysts supplied by the company.
Read more at Reuters.com Market News
Wednesday, April 25, 2007
UPDATE 2-France Tel. Q1 beats forecasts, not eyeing Italy
(Reuters) - By Astrid Wendlandt
PARIS, April 26 - France Telecom posted on Thursday a 1.5 percent rise in underlying first-quarter profit, slightly above forecasts, helped by cost-control and demand for Internet access and media services.
Read more at Reuters.com Mergers News
PARIS, April 26 - France Telecom posted on Thursday a 1.5 percent rise in underlying first-quarter profit, slightly above forecasts, helped by cost-control and demand for Internet access and media services.
Read more at Reuters.com Mergers News
Nikkei up 1.1 pct, Kyocera rises before earnings
(Reuters) - JFE Holdings Inc. jumped more than 4 percent after the world's fourth-biggest steel maker posted higher-than-expected profit in the past business year The announcement prompted investor buying of other steel shares, making the steel sector ISTEL.the best performer among the TOPIX's 33 industry sub-indexes
The Nikkei ended up 193.01 points at 17,429.17. The broad TOPIX index was up 0.95 percent at 1,703.41.
Read more at Reuters.com Hot Stocks News
The Nikkei ended up 193.01 points at 17,429.17. The broad TOPIX index was up 0.95 percent at 1,703.41.
Read more at Reuters.com Hot Stocks News
Weaker US dollar, India buys lift gold
(Reuters) - Gold rose on Thursday on the back of a weaker U.S. dollar and purchases from Indian jewellers, but some dealers turned cautious after the metal's failed attempt to revisit $700.
"The metal's failure to decisively break the key resistances has knocked off the bullish sentiments, albeit marginally," said Pradeep Unni, analyst at Vision Commodity Services in Dubai.
Read more at Reuters Africa
"The metal's failure to decisively break the key resistances has knocked off the bullish sentiments, albeit marginally," said Pradeep Unni, analyst at Vision Commodity Services in Dubai.
Read more at Reuters Africa
U.K. Pension Plans May Show Surplus in 3 Years as Stocks Rally, Aon Says
(Bloomberg) -- U.K. company pension plans within three years may have more money than they owe their members, as returns from equities lift asset values, according to Aon Corp.
The 200 largest pension funds in the U.K. have a combined deficit of about 26 billion pounds ($52 billion), Aon's London- based pension consultancy said in an e-mailed statement. There's a 61 percent chance of that disappearing by 2010 and an 84 percent chance of the funds being in surplus within 10 years, the company said.
Read more at Bloomberg Bonds News
The 200 largest pension funds in the U.K. have a combined deficit of about 26 billion pounds ($52 billion), Aon's London- based pension consultancy said in an e-mailed statement. There's a 61 percent chance of that disappearing by 2010 and an 84 percent chance of the funds being in surplus within 10 years, the company said.
Read more at Bloomberg Bonds News
TREASURIES-Market pauses in Asia after slide on data
(Reuters) - The two-year yield rose on Wednesday after matching a three-week low, narrowing the spread between two- and 10-year yields.
"Yesterday's move was largely an adjustment from the slight bull steepening we've been seeing," said a dealer at a European securities house, while adding it was too early to say if spreads would narrow more.
Read more at Reuters.com Bonds News
"Yesterday's move was largely an adjustment from the slight bull steepening we've been seeing," said a dealer at a European securities house, while adding it was too early to say if spreads would narrow more.
Read more at Reuters.com Bonds News
France Telecom, Cap Gemini, Dior, Coil, Lagardere: French Equity Preview
(Bloomberg) -- Shares of the following companies may rise or fall on the Paris stock exchange. Symbols are in parentheses after company names and prices are from yesterday's close.
The CAC 40 Index climbed 61.30, or 1 percent, to 5947.33, its highest in more than six years. The SBF 120 Index advanced 0.9 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index climbed 61.30, or 1 percent, to 5947.33, its highest in more than six years. The SBF 120 Index advanced 0.9 percent.
Read more at Bloomberg Stocks News
Hong Kong Export Growth Probably Slowed on March Dip in China's Trade Boom
(Bloomberg) -- Hong Kong's export growth probably cooled in March on a dip in China's trade boom.
Overseas sales rose 8.7 percent from a year earlier after expanding 12 percent in February, according to the median estimate of 15 economists surveyed by Bloomberg News. The government will release figures at 4:15 p.m. local time.
Read more at Bloomberg Bonds News
Overseas sales rose 8.7 percent from a year earlier after expanding 12 percent in February, according to the median estimate of 15 economists surveyed by Bloomberg News. The government will release figures at 4:15 p.m. local time.
Read more at Bloomberg Bonds News
Wheat Gains to Six-Month High in Chicago as Canadian Farmers Cut Plantings
(Bloomberg) -- Wheat futures in Chicago rose for a second day to a six-month high after farmers said they planned to cut plantings by 10 percent in Canada, the second-largest exporter of the grain, to switch to more profitable crops.
Canada, which grows mostly spring wheat, will sow 23.8 million acres this year, down from 26.4 million in 2006, Statistics Canada said April 24 in a survey of farmers. The decline will further erode global inventories, which the U.S. government estimated this month will drop to 121.2 million metric tons by May 31, the lowest since 1982.
Read more at Bloomberg Commodities News
Canada, which grows mostly spring wheat, will sow 23.8 million acres this year, down from 26.4 million in 2006, Statistics Canada said April 24 in a survey of farmers. The decline will further erode global inventories, which the U.S. government estimated this month will drop to 121.2 million metric tons by May 31, the lowest since 1982.
Read more at Bloomberg Commodities News
South Korean Stocks Climb to Record; Posco, Samsung Electronics Lead Gains
(Bloomberg) -- South Korean stocks rose to a record. Posco gained after a newspaper said it may swap stakes with Hyundai Heavy Industries Co. to fend off hostile bids.
Steelmakers such Hyundai Steel Co. also rose after Baoshan Iron & Steel Co., China's biggest, said quarterly profit more than doubled as the government curbed capacity expansion.
Read more at Bloomberg Stocks News
Steelmakers such Hyundai Steel Co. also rose after Baoshan Iron & Steel Co., China's biggest, said quarterly profit more than doubled as the government curbed capacity expansion.
Read more at Bloomberg Stocks News
UPDATE 1-Mexico's Penoles 1st-qtr net profit down 16.3 pct
(Reuters) - Without last year's gain on an asset sale, net profit would have jumped 43 percent.
Penoles , the world's top silver miner, said first-quarter sales totaled 10.6 billion pesos, an increase of 47 percent from the year-ago period, due to high metals prices and lower operating costs.
Read more at Reuters.com Market News
Penoles , the world's top silver miner, said first-quarter sales totaled 10.6 billion pesos, an increase of 47 percent from the year-ago period, due to high metals prices and lower operating costs.
Read more at Reuters.com Market News
M'bishi UFJ Sec ex-US head wasn't certified-paper
(Reuters) - The CEO left his position in March, it added.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-Alcon first-quarter profit rises 17 percent
(Reuters) - Alcon, which is majority owned by Swiss conglomerate Nestle , posted a quarterly profit of $346.2 million, or $1.14 per share, compared with a profit of $295.7 million, or 95 cents per share, in the year-ago period.
Excluding a charge related to the impairment of certain assets of the company's refractive laser product line, Alcon earned $1.21 per share. Analysts on average had expected $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Excluding a charge related to the impairment of certain assets of the company's refractive laser product line, Alcon earned $1.21 per share. Analysts on average had expected $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
NEWSMAKER-Bank of Canada's Dodge renowned for straight talk
(Reuters) - The central bank announced on Wednesday that Dodge, a skilled bureaucrat credited with helping wrench Canada out of an economic morass in the 1990s, will not seek a second term when his seven-year mandate ends on Jan. 31, 2008.
Known for his gravely voice, the economist quickly gained a reputation for candor. In a famous example, he outlined the need to return inflation to the bank's 2 percent target.
Read more at Reuters.com Bonds News
Known for his gravely voice, the economist quickly gained a reputation for candor. In a famous example, he outlined the need to return inflation to the bank's 2 percent target.
Read more at Reuters.com Bonds News
Celestica loss widens as revenue slips lower
(Reuters) - Celestica said it lost $34.3 million, or 15 cents per share, in the three months ended March 31. That was worse than the loss of $17.4 million, or 8 cents per share, in the same period a year earlier.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
TREASURIES-Bonds slip ahead of auction, after mixed data
(Reuters) - NEW YORK, April 25 - U.S. government bond prices slipped on Wednesday, weighed down by the expectation of more supply in the market with a two-year note auction and after mixed data reports.
Data showing the housing market slump is not over largely offset a stronger-than-expected durable goods report.
Read more at Reuters.com Bonds News
Data showing the housing market slump is not over largely offset a stronger-than-expected durable goods report.
Read more at Reuters.com Bonds News
CVS offer ends with a fraction of shares tendered
(Reuters) - The drugstore and pharmacy benefits manager company said it would continue to look at alternatives for optimizing its capital structure.
CVS offered $35 per share in the tender offer, which began on March 28. The tender offer was made as part of its sweetened bid for Caremark. That deal closed on March 22.
Read more at Reuters.com Mergers News
CVS offered $35 per share in the tender offer, which began on March 28. The tender offer was made as part of its sweetened bid for Caremark. That deal closed on March 22.
Read more at Reuters.com Mergers News
Alcoa explores possible sale of packaging business
(Reuters) - The company said it would explore strategic alternatives for the business, which makes consumer products like Reynolds Wrap. Joint ventures are another possibility.
"We're going to look at all options available," said Alcoa spokesman Kevin Lowery.
Read more at Reuters.com Business News
"We're going to look at all options available," said Alcoa spokesman Kevin Lowery.
Read more at Reuters.com Business News
UPDATE 2-Alcoa explores possible sale of packaging business
(Reuters) - NEW YORK, April 25 - Alcoa Inc. , the world's largest aluminum company, said on Wednesday that it might put its packaging and consumer business up for sale, sending its shares as much as 7 percent.
The company said it would explore strategic alternatives for the business, which makes consumer products like Reynolds Wrap. Joint ventures are another possibility.
Read more at Reuters.com Government Filings News
The company said it would explore strategic alternatives for the business, which makes consumer products like Reynolds Wrap. Joint ventures are another possibility.
Read more at Reuters.com Government Filings News
Treasuries Little Changed After Sales of New Homes Increased During March
(Bloomberg) -- U.S. Treasuries pared losses and were little changed after a government report showed sales of new homes increased last month.
Sales rose 2.6 percent, after falling a revised 4.2 percent in February, according to data released by the Commerce Department in Washington. The median forecast of economists surveyed by Bloomberg News was for a 5 percent boost in sales.
Read more at Bloomberg Bonds News
Sales rose 2.6 percent, after falling a revised 4.2 percent in February, according to data released by the Commerce Department in Washington. The median forecast of economists surveyed by Bloomberg News was for a 5 percent boost in sales.
Read more at Bloomberg Bonds News
FACTBOX-What analysts are saying about battle for ABN
(Reuters) -
Here are selected comments from analysts' research notes on Wednesday:
Read more at Reuters.com Mergers News
Here are selected comments from analysts' research notes on Wednesday:
Read more at Reuters.com Mergers News
UPDATE 1-WPP eyeing Web ad company 24/7 Real Media -report
(Reuters) - Shares of 24/7 Real Media rose $1.11, or 13.1 percent, to $9.59 in early Nasdaq trade.
24/7 Real Media has already been in talks with London-based WPP, the Post reported, citing unnamed sources.
Read more at Reuters.com Mergers News
24/7 Real Media has already been in talks with London-based WPP, the Post reported, citing unnamed sources.
Read more at Reuters.com Mergers News
UPDATE 2-Chaparral Steel explores sale, stock soars
(Reuters) - Chaparral's stock jumped $9.70, or 15 percent, to $73.64 on the news.
Midlothian, Texas-based Chaparral is the second-largest producer of structural steel beams in North America and is also a recycling company. Chaparral, with a market capitalization of around $3 billion, also supplies steel bar products.
Read more at Reuters.com Mergers News
Midlothian, Texas-based Chaparral is the second-largest producer of structural steel beams in North America and is also a recycling company. Chaparral, with a market capitalization of around $3 billion, also supplies steel bar products.
Read more at Reuters.com Mergers News
UPDATE 1-Allegheny Technologies first-quarter profit rises
(Reuters) - Net income was $197.8 million, or $1.92 per share, compared with $106.5 million, or $1.04 per share, a year earlier, the Pittsburgh-based company said.
Analysts had expected earnings of $1.83 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts had expected earnings of $1.83 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Ashland second-quarter profits flat
(Reuters) - Net income for the second fiscal quarter was $49 million, or 77 cents a share, compared with $49 million, or 67 cents a share, in the year-ago quarter.
The company had a higher number of shares outstanding in the year ago period.
Read more at Reuters.com Market News
The company had a higher number of shares outstanding in the year ago period.
Read more at Reuters.com Market News
UPDATE 1-Louisiana-Pacific posts first-quarter loss
(Reuters) - The company's net loss was $37 million, or 36 cents per diluted share, compared to net income of $84 million, or 79 cents per diluted share, a year earlier. Income from continuing operations a year ago was $85 million, or 80 cents per share.
The company lost money in its oriented strand board unit, where pricing was nearly 50 percent lower than a year ago and costs were impacted by railroad work interruptions, Louisiana-Pacific Chief Executive Rick Frost said.
Read more at Reuters.com Market News
The company lost money in its oriented strand board unit, where pricing was nearly 50 percent lower than a year ago and costs were impacted by railroad work interruptions, Louisiana-Pacific Chief Executive Rick Frost said.
Read more at Reuters.com Market News
UPDATE 1-Ryder profit rises, beats analyst forecasts
(Reuters) - The company also issued an outlook for the second quarter, which came in below market expectations.
The Miami-based company reported first-quarter net income rose 8 percent to $51.3 million, or 84 cents a share, compared with $47.6 million, or 77 cents a share, a year earlier. Revenue rose 7 percent to $1.59 billion from $1.50 billion.
Read more at Reuters.com Market News
The Miami-based company reported first-quarter net income rose 8 percent to $51.3 million, or 84 cents a share, compared with $47.6 million, or 77 cents a share, a year earlier. Revenue rose 7 percent to $1.59 billion from $1.50 billion.
Read more at Reuters.com Market News
UPDATE 1-AMG profit up 4 pct, beats expectations
(Reuters) - AMG, which owns stakes in more than two dozen investment managers including value equities firm Third Avenue Management and quantitative manager AQR Capital Management, said performance was "excellent" in alternative investments products and international equities, both of which were poised for stronger growth.
Net income rose to $36.6 million, or 93 cents per diluted share, from $35.2 million, or 81 cents per diluted share in the year-ago quarter.
Read more at Reuters.com Market News
Net income rose to $36.6 million, or 93 cents per diluted share, from $35.2 million, or 81 cents per diluted share in the year-ago quarter.
Read more at Reuters.com Market News
UPDATE 2-AmerisourceBergen quarterly profit rises
(Reuters) - CHICAGO, April 25 - AmerisourceBergen Corp. reported higher quarterly profit on Wednesday as margins for its pharmaceutical distribution business increased.
The drug wholesaler, which late on Wednesday said the U.S. Drug Enforcement Administration had temporarily suspended its Orlando, Florida, distribution center's license to distribute DEA-controlled substances, posted net profit of $129.5 million, or 68 cents per share, for its fiscal second quarter, historically the company's strongest period.
Read more at Reuters.com Market News
The drug wholesaler, which late on Wednesday said the U.S. Drug Enforcement Administration had temporarily suspended its Orlando, Florida, distribution center's license to distribute DEA-controlled substances, posted net profit of $129.5 million, or 68 cents per share, for its fiscal second quarter, historically the company's strongest period.
Read more at Reuters.com Market News
UPS profit falls on charges for aircraft, layoffs
(Reuters) - CHICAGO, April 25 - Package delivery company United Parcel Service Inc. on Wednesday reported a lower quarterly profit due to a charge related to aging aircraft and voluntary layoff expenses.
UPS also reiterated its full-year outlook, saying U.S. economic growth has been softer than anticipated but growth outside the country has been "rapid."
Read more at Reuters.com Market News
UPS also reiterated its full-year outlook, saying U.S. economic growth has been softer than anticipated but growth outside the country has been "rapid."
Read more at Reuters.com Market News
Ambac first-quarter earnings fall
(Reuters) - NEW YORK, April 25 - Ambac Financial Group Inc., a bond insurer, said on Wednesday that first-quarter net income fell, hurt by declining investment income.
The Armonk, New York-based company said net income fell to $213.3 million, or $2.02 a share, from $221.1 million, or $2.06 a share, a year earlier.
Read more at Reuters.com Market News
The Armonk, New York-based company said net income fell to $213.3 million, or $2.02 a share, from $221.1 million, or $2.06 a share, a year earlier.
Read more at Reuters.com Market News
ConocoPhillips profit rises on gains from sales
(Reuters) - The company said the asset sales added about 29 cents per share in this year's quarter.
Total revenue in the quarter fell more than 10 percent to $42.87 billion.
Read more at Reuters.com Business News
Total revenue in the quarter fell more than 10 percent to $42.87 billion.
Read more at Reuters.com Business News
U.S. Stock-Index Futures Rise; PepsiCo, Amazon.com Advance After Earnings
(Bloomberg) -- U.S. stock-index futures gained on expectation earnings will keep beating analysts' estimates after PepsiCo Inc. and Amazon.com Inc. posted results that topped forecasts.
PepsiCo, the world's second-largest soft-drink maker, advanced as quarterly net income rose 16 percent. Amazon.com, the biggest online retailer, jumped after increasing its 2007 profit and sales forecasts. Of the Standard & Poor's 500 Index companies that have reported, more than two thirds have posted better first-quarter results than analysts anticipated.
Read more at Bloomberg Stocks News
PepsiCo, the world's second-largest soft-drink maker, advanced as quarterly net income rose 16 percent. Amazon.com, the biggest online retailer, jumped after increasing its 2007 profit and sales forecasts. Of the Standard & Poor's 500 Index companies that have reported, more than two thirds have posted better first-quarter results than analysts anticipated.
Read more at Bloomberg Stocks News
Polish Zloty Gains as Central Bank Raises Interest Rates to 4.25 Percent
(Bloomberg) -- Poland's zloty gained after the central bank raised interest rates for the first time in almost three years.
The zloty rose as Warsaw-based policy makers raised borrowing costs a quarter-point from a record-low of 4 percent, meeting the expectations of 15 out of 18 economists surveyed by Bloomberg News.
Read more at Bloomberg Currencies News
The zloty rose as Warsaw-based policy makers raised borrowing costs a quarter-point from a record-low of 4 percent, meeting the expectations of 15 out of 18 economists surveyed by Bloomberg News.
Read more at Bloomberg Currencies News
Gold Gains on Speculation Weaker Dollar Will Spur Demand; Silver Declines
(Bloomberg) -- Gold and silver gained on speculation a weakening dollar will increase investor demand for the precious metals.
Gold has climbed 7.7 percent this year and silver is up 6.8 percent as the U.S. currency lost value against the euro, pound and yen. Jewelers usually stock up on the metal this month for the wedding season in India, the world's biggest gold consumer.
Read more at Bloomberg Commodities News
Gold has climbed 7.7 percent this year and silver is up 6.8 percent as the U.S. currency lost value against the euro, pound and yen. Jewelers usually stock up on the metal this month for the wedding season in India, the world's biggest gold consumer.
Read more at Bloomberg Commodities News
Becton Dickinson quarterly earnings rise
(Reuters) - Earnings from continuing operations were 92 cents per share.
Wall Street analysts on average had forecast 91 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Wall Street analysts on average had forecast 91 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
S.Africa March CPIX quickens to 5.5 pct yr/yr
(Reuters) - South Africa's targeted CPIX inflation rate rose by 5.5 percent in the year to March, official data showed on Wednesday, bang in line with forecasts and the highest level since August 2003.
Figures from Statistics South Africa also showed that the all-items consumer price index (CPI) increased by an annual rate of 6.1 percent in March, also in line with forecasts, compared to February's 5.7 percent.
Read more at Reuters Africa
Figures from Statistics South Africa also showed that the all-items consumer price index (CPI) increased by an annual rate of 6.1 percent in March, also in line with forecasts, compared to February's 5.7 percent.
Read more at Reuters Africa
China Iron Ore Imports May Surge 20 Percent on Demand, Industry Group Says
(Bloomberg) -- China, the world's largest iron ore buyer, may boost imports as much as 20 percent this year as demand rises, the head of the China Metallurgical Mining Enterprise Association said, doubling a forecast from December.
Overseas purchases of the steelmaking raw material may surge as China exported more steel products, Zou Jian said in an interview today, without giving a precise estimate. The nation's ore imports would gain 10 percent in 2007, Zou had said Dec. 21.
Read more at Bloomberg Commodities News
Overseas purchases of the steelmaking raw material may surge as China exported more steel products, Zou Jian said in an interview today, without giving a precise estimate. The nation's ore imports would gain 10 percent in 2007, Zou had said Dec. 21.
Read more at Bloomberg Commodities News
VTB Seeks $7 Billion in Biggest Initial Public Offering by Russian Bank
(Bloomberg) -- VTB Group, Russia's second-largest bank, is seeking to raise as much as $7 billion in the biggest- ever initial public offering by a Russian lender.
VTB is selling shares for between 11.3 kopeks (0.44 cent) and 13.90 kopeks each, valuing the bank at between $22.8 billion and $28.1 billion, state-controlled VTB said on its Web site today. The IPO is the largest in Russia so far this year.
Read more at Bloomberg Emerging Markets News
VTB is selling shares for between 11.3 kopeks (0.44 cent) and 13.90 kopeks each, valuing the bank at between $22.8 billion and $28.1 billion, state-controlled VTB said on its Web site today. The IPO is the largest in Russia so far this year.
Read more at Bloomberg Emerging Markets News
Portuguese Stocks Gain, Led by Banco Comercial: World's Biggest Mover
(Bloomberg) -- Portuguese stocks advanced, led by Banco Comercial Portugues SA, which yesterday raised its bid for Banco BPI SA to 5.32 billion euros ($7.3 billion).
Grupo Inmocaral SA paced a decline in Spanish real-estate shares as they fell for second day on concern the country's property boom is over.
Read more at Bloomberg Stocks News
Grupo Inmocaral SA paced a decline in Spanish real-estate shares as they fell for second day on concern the country's property boom is over.
Read more at Bloomberg Stocks News
U.K.'s FTSE 100 Gains; Sainsbury Surges After $2.8 billion Block Trade
(Bloomberg) -- The U.K.'s FTSE 100 Index rose. Shares in J Sainsbury Plc, a U.K. supermarket chain, surged following a trade equaling more than 14 percent of the company's stock.
Northern Rock Plc, Britain's No. 7 bank, headed for its biggest drop since May after Deutsche Bank AG advised investors to sell the shares because of a deteriorating mortgage market.
Read more at Bloomberg Stocks News
Northern Rock Plc, Britain's No. 7 bank, headed for its biggest drop since May after Deutsche Bank AG advised investors to sell the shares because of a deteriorating mortgage market.
Read more at Bloomberg Stocks News
Germany's Business Confidence Rose More Than Economists Forecast in April
(Bloomberg) -- German business confidence rose for a second month in April, indicating growth in Europe's largest economy may accelerate.
The Ifo institute's sentiment index, based on responses from 7,000 executives, climbed to 108.6 from 107.7 in March, the Munich-based research institute said today. Economists expected an increase to 107.9, 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.
Read more at Bloomberg Currencies News
The Ifo institute's sentiment index, based on responses from 7,000 executives, climbed to 108.6 from 107.7 in March, the Munich-based research institute said today. Economists expected an increase to 107.9, 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.
Read more at Bloomberg Currencies News
UPDATE 1-GE closer to successful bid for Sanyo Elec Credit
(Reuters) - The acquisition would likely help it expand its customer base because Sanyo Electric Credit focuses on smaller firms.
Struggling electronics maker Sanyo Electric, which is seen likely to book its third straight annual loss and is under investigation by Japan's securities watchdog for possible accounting problems, said it would tender its entire 16.7 percent stake.
Read more at Reuters.com Mergers News
Struggling electronics maker Sanyo Electric, which is seen likely to book its third straight annual loss and is under investigation by Japan's securities watchdog for possible accounting problems, said it would tender its entire 16.7 percent stake.
Read more at Reuters.com Mergers News
German Day-Ahead Power Prices Fall on Forecasts Wind Production May Rise
(Bloomberg) -- German day-ahead electricity prices fell to their lowest this week on forecasts wind-power plants, the most unpredictable source of electricity, would increase production. French power declined.
Baseload day-ahead power dropped after two days of gains, declining as much as 6.20 euros, or 14 percent, to 37.30 euros ($50.90) a megawatt hour, according to GFI Group Inc.'s prices on Bloomberg at 9:14 a.m. Berlin time.
Read more at Bloomberg Energy News
Baseload day-ahead power dropped after two days of gains, declining as much as 6.20 euros, or 14 percent, to 37.30 euros ($50.90) a megawatt hour, according to GFI Group Inc.'s prices on Bloomberg at 9:14 a.m. Berlin time.
Read more at Bloomberg Energy News
Chicago Wheat and Corn Prices Rise on Concern About Cold, Wet U.S. Weather
(Bloomberg) -- Chicago wheat futures rose, reversing losses in the past two days, on concern that cool, wet weather in the U.S. will damage crops. Corn prices also gained amid speculation about possible planting delays.
Moderate to heavy rainfall will continue to spread over southwest Kansas up to early today, the National Weather Service said in a flood watch update at 1:52 a.m. EDT. The low pressure will move east and be over Missouri by the afternoon, it said on its Web site.
Read more at Bloomberg Commodities News
Moderate to heavy rainfall will continue to spread over southwest Kansas up to early today, the National Weather Service said in a flood watch update at 1:52 a.m. EDT. The low pressure will move east and be over Missouri by the afternoon, it said on its Web site.
Read more at Bloomberg Commodities News
Reuters CEO says January sales best since 1994
(Reuters) - Finance Director David Grigson said he was "not uncomfortable" with current exchange rate levels. "We have reiterated our guidance again and clearly we are doing that against a backdrop of two dollars to the pound," he added.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
PRESS DIGEST - New York Times business news - April 25
(Reuters) - * Regulators from the U.S. Securities and Exchange Commission said yesterday that they would bring no civil charges against Apple Inc. over the backdating of executive stock options.
* The National Association of Realtors said yesterday that sales of existing homes, which account for the vast majority of all home sales, fell 8.4 percent in March, the steepest monthly decline since January 1989.
Read more at Reuters.com Mergers News
* The National Association of Realtors said yesterday that sales of existing homes, which account for the vast majority of all home sales, fell 8.4 percent in March, the steepest monthly decline since January 1989.
Read more at Reuters.com Mergers News
JGBs climb along with Treasuries, BOJ outlook eyed
(Reuters) - Dealers expect JGBs to remain confined to tight ranges ahead of Thursday's two-year note auction and Friday's batch of data, which includes figures expected to show core inflation falling at a slightly faster pace but the labour market staying robust.
June 10-year futures jumped 0.20 point to 134.17 , pulling further away from a three-month low of 133.41 hit last week.
Read more at Reuters.com Bonds News
June 10-year futures jumped 0.20 point to 134.17 , pulling further away from a three-month low of 133.41 hit last week.
Read more at Reuters.com Bonds News
Acciona says acted legally in Endesa battle
(Reuters) - On Tuesday, as he explained his decision to resign as head of the CNMV regulator, Manuel Conthe said Acciona and Italy's Enel had acted improperly as they prepared their bid for Endesa and called for possible sanctions against them.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-Autonomy to demerge and float consumer unit
(Reuters) - The company posted an adjusted pretax profit of $19.5 million for the three months to March 31, compared with $10.3 million for the same period a year ago, on revenues of $65.5 million, up from $56.1 million a year ago.
The market had on average expected the company to report an adjusted pretax profit of $18 million on revenue of $65 million, according to analysts' forecasts provided by the company.
Read more at Reuters.com Market News
The market had on average expected the company to report an adjusted pretax profit of $18 million on revenue of $65 million, according to analysts' forecasts provided by the company.
Read more at Reuters.com Market News
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