(Reuters) - SANTA FE, N.M., May 4 - Non-bank businesses, which have taken an increasingly large role in the payment system, may not necessarily need to be regulated like banks, Kansas City Federal Reserve Bank President Thomas Hoenig said on Friday.
Fed banks provide payment services to help move more than $3 trillion through check clearing and automated systems to pay for goods, services, and financial instruments.
Read more at Reuters.com Bonds News
Friday, May 4, 2007
US STOCKS-Indexes flat after early bounce fizzles
(Reuters) - NEW YORK, May 4 - U.S. stocks were little changed on Friday as investors opted to lock in profits following this week's run-up, tempering optimism spurred by deal news and data that calmed inflation concerns.
Earlier, the Standard & Poor's 500 stock index climbed to its highest in more than six years.
Read more at Reuters.com Bonds News
Earlier, the Standard & Poor's 500 stock index climbed to its highest in more than six years.
Read more at Reuters.com Bonds News
UPDATE 1-ConEd seeks nearly $2 bln in electricity rate hike
(Reuters) - The proposal, filed with New York State regulators, would increase revenue by $1.2 billion, effective April 1, 2008. That represents an 11.6 percent average rise in customer bills, said the company.
Rate would increases an additional $335 million, or 3.2 percent, in 2009 and $390 million, or 3.7 percent, in 2010.
Read more at Reuters.com Market News
Rate would increases an additional $335 million, or 3.2 percent, in 2009 and $390 million, or 3.7 percent, in 2010.
Read more at Reuters.com Market News
Moody's may lift Northrop Grumman's rating on results
(Reuters) - Moody's review "will focus on assessing the magnitude and the sustainability of Northrop Grumman's operating and financial improvement," the credit agency said.
Northrop Grumman currently holds a "Baa2" senior unsecured debt rating, which is the second-lowest investment grade ranking.
Read more at Reuters.com Bonds News
Northrop Grumman currently holds a "Baa2" senior unsecured debt rating, which is the second-lowest investment grade ranking.
Read more at Reuters.com Bonds News
U.S. Stocks Pare Gains After Crude-Oil Prices Plunge; Dow Average Slips
(Bloomberg) -- U.S. stocks pared their gains after a plunge in oil prices drove energy shares lower.
The Dow Jones Industrial Average slipped 0.98 to 13,240.40 as of 12:40 p.m. in New York. The measure earlier climbed as much as 0.3 percent. The Standard & Poor's 500 Index added 1.07, or 0.1 percent, to 1503.46. The Nasdaq Composite Index rose 0.13 to 2565.59.
Read more at Bloomberg Stocks News
The Dow Jones Industrial Average slipped 0.98 to 13,240.40 as of 12:40 p.m. in New York. The measure earlier climbed as much as 0.3 percent. The Standard & Poor's 500 Index added 1.07, or 0.1 percent, to 1503.46. The Nasdaq Composite Index rose 0.13 to 2565.59.
Read more at Bloomberg Stocks News
UPDATE 1-Reed to sell 2 education units for $950 mln
(Reuters) - Reed said the deal for its Harcourt Assessment and Harcourt Education International units was expected to complete in stages, following regulatory reviews by authorities.
The group said in February it would sell its education arm and in a trading update in April said the sale was progressing well and expected to complete in the second half.
Read more at Reuters.com Mergers News
The group said in February it would sell its education arm and in a trading update in April said the sale was progressing well and expected to complete in the second half.
Read more at Reuters.com Mergers News
Anglo American sells stake in Highveld Steel
(Reuters) - Anglo American has sold its remaining 29.2 percent stake in Highveld Steel and Vanadium Ltd. (Highveld) to the Evraz Group S.A. for $238 million, it said on Friday.
In July 2006, Anglo sold 49.8 percent of Highveld to Evraz and Credit Suisse as part of its plans to focus on mining.
Read more at Reuters Africa
In July 2006, Anglo sold 49.8 percent of Highveld to Evraz and Credit Suisse as part of its plans to focus on mining.
Read more at Reuters Africa
M&A, jobs data boost Wall Street
(Reuters) - U.S. stocks rose on Friday on the latest wave of merger and acquisition activity and April U.S. jobs data that calmed inflation concerns.
Microsoft, the world's biggest software company, has held informal talks with Yahoo Inc. about a possible bid, according to newspaper reports.
Read more at Reuters Africa
Microsoft, the world's biggest software company, has held informal talks with Yahoo Inc. about a possible bid, according to newspaper reports.
Read more at Reuters Africa
Nigeria's Zenon buys African Petroleum stake
(Reuters) - Nigeria's privately-held oil firm Zenon has acquired a 28.7 percent equity stake in rival African Petroleum (AP) Plc for 17 billion naira, a Zenon official said on Friday.
The shares were sold by state-run Nigerian National Petroleum Corp. (NNPC), which acquired them in a 10 billion naira debt swap in 2005.
Read more at Reuters Africa
The shares were sold by state-run Nigerian National Petroleum Corp. (NNPC), which acquired them in a 10 billion naira debt swap in 2005.
Read more at Reuters Africa
BOC's Dodge sees risks from carry trade, markets
(Reuters) - "One-way bets are always dangerous things," Dodge said in response to a question about such trades.
He added that the central bank had no intentions of resuming the currency intervention last seen in the 1990s in order to stem the recent appreciation of the Canadian dollar.
Read more at Reuters.com Bonds News
He added that the central bank had no intentions of resuming the currency intervention last seen in the 1990s in order to stem the recent appreciation of the Canadian dollar.
Read more at Reuters.com Bonds News
UPDATE 1-Canada purchasing activity rise slows - Ivey index
(Reuters) - The index, a joint project of the Purchasing Management Association of Canada and the Richard Ivey School of Business, fell to 60.9 in April from 67.3 in March.
A reading of 50.0 indicates that activity remained flat from the preceding month, while a higher reading indicates an increase, and a lower reading reflects a slowing or decrease.
Read more at Reuters.com Economic News
A reading of 50.0 indicates that activity remained flat from the preceding month, while a higher reading indicates an increase, and a lower reading reflects a slowing or decrease.
Read more at Reuters.com Economic News
Hamilton Sundstrand workers to vote on contract
(Reuters) - Coulom said he could not provide further details on the negotiations.
Officials at the International Association of Machinists, which represents the workers, could not be reached for immediate comment.
Read more at Reuters.com Bonds News
Officials at the International Association of Machinists, which represents the workers, could not be reached for immediate comment.
Read more at Reuters.com Bonds News
Freddie Mac to sell $5 billion in bills Monday
(Reuters) - -- $3.0 billion of three-month bills due Aug. 6, 2007 to be sold Monday and settle Tuesday; and
-- $2.0 billion of six-month bills due Nov. 5, 2007 to be sold Monday and settle Tuesday.
Read more at Reuters.com Bonds News
-- $2.0 billion of six-month bills due Nov. 5, 2007 to be sold Monday and settle Tuesday.
Read more at Reuters.com Bonds News
U.S. homeowners see no change in home values-survey
(Reuters) - "This withdrawl of suport for consumption spending will act to slow the pace of overall economic growth in 2007 and 2008," the statement accompanying the survey results said.
Read more at Reuters.com Economic News
Read more at Reuters.com Economic News
Treasuries Gain on Slowdowns in Job Creation and Wage Growth During April
(Bloomberg) -- U.S. Treasuries rose for the first time in four days after a government report showed job creation and wage growth slowed in April.
The Labor Department data bolstered the view that economic growth and inflation are slowing, led by declines in housing and business investment. Yields, which move inversely to prices, declined as traders stepped up bets the Federal Reserve will cut interest rates this year after raising them from 2004 to 2006.
Read more at Bloomberg Bonds News
The Labor Department data bolstered the view that economic growth and inflation are slowing, led by declines in housing and business investment. Yields, which move inversely to prices, declined as traders stepped up bets the Federal Reserve will cut interest rates this year after raising them from 2004 to 2006.
Read more at Bloomberg Bonds News
Gold, Silver Futures Rise in New York on Outlook for U.S. Interest Rates
(Bloomberg) -- Gold and silver rose for a second straight day in New York on speculation interest rates in the U.S. will remain steady, weakening the dollar and boosting the appeal of precious metals as an alternative investment.
Gold generally moves in the opposite direction of the dollar, which fell against the euro today. The Labor Department reported U.S. employers added fewer jobs than expected in April, damping expectations that the Federal Reserve will raise interest rates anytime soon.
Read more at Bloomberg Commodities News
Gold generally moves in the opposite direction of the dollar, which fell against the euro today. The Labor Department reported U.S. employers added fewer jobs than expected in April, damping expectations that the Federal Reserve will raise interest rates anytime soon.
Read more at Bloomberg Commodities News
UPDATE 1-Aimco FFO rises 12.3 percent, higher rents a help
(Reuters) - The company, known as Aimco, reported first-quarter FFO of $74.1 million, or 74 cents a share, compared with $66 million, or 68 cents a share.
Factoring out impairment and preferred redemption charges, FFO -- a measure of performance commonly used by real estate investment trusts, which factors out the effects of depreciation, a noncash item -- came to 75 cents per share.
Read more at Reuters.com Market News
Factoring out impairment and preferred redemption charges, FFO -- a measure of performance commonly used by real estate investment trusts, which factors out the effects of depreciation, a noncash item -- came to 75 cents per share.
Read more at Reuters.com Market News
Fed's Geithner urges FX flexibility, mum on policy
(Reuters) - Yet they are ultimately worth it, he said.
"The only realistic choice for policy-makers is to equip their economies with the flexibility to cope more successfully in this increasingly integrated global economy," said Geithner in prepared remarks.
Read more at Reuters.com Bonds News
"The only realistic choice for policy-makers is to equip their economies with the flexibility to cope more successfully in this increasingly integrated global economy," said Geithner in prepared remarks.
Read more at Reuters.com Bonds News
Mvela Group says CFO Till quits, seeks replacement
(Reuters) - South African black-owned holding company Mvelaphanda Group said on Friday its Chief Financial Officer Brett Till has resigned with effect from July 31.
The company said it was looking for a replacement and hoped to find a suitable candidate by the time Till leaves.
Read more at Reuters Africa
The company said it was looking for a replacement and hoped to find a suitable candidate by the time Till leaves.
Read more at Reuters Africa
Edison International, Morgan Stanley Lead Rebound in Corporate Bond Sales
(Bloomberg) -- Edison International, the largest buyer of wind power, and securities firm Morgan Stanley led borrowers in selling $33 billion of bonds this week, the third-most this year, as issuance accelerated amid signs of a rebounding economy.
Sales rose from last week's $25.5 billion and exceeded this year's average of $22.8 billion, according to data compiled by Bloomberg. Edison, based in Rosemead, California, sold $2.7 billion of bonds through one of its units, while Morgan Stanley issued $3.75 billion of senior floating-rate notes.
Read more at Bloomberg Bonds News
Sales rose from last week's $25.5 billion and exceeded this year's average of $22.8 billion, according to data compiled by Bloomberg. Edison, based in Rosemead, California, sold $2.7 billion of bonds through one of its units, while Morgan Stanley issued $3.75 billion of senior floating-rate notes.
Read more at Bloomberg Bonds News
US RATE FUTURES-Fed prospects unmoved by jobs data
(Reuters) - Futures continue to imply the U.S. central bank will hold its overnight lending rate at 5.25 percent well into the third quarter and make just a single rate cut by year-end.
"The key employment components in the April data were unusually close to consensus, and are apt to kill volatility for the next few sessions," said Alan Ruskin, chief international strategist with Greenwich Capital Markets in Greenwich, Connecticut.
Read more at Reuters.com Bonds News
"The key employment components in the April data were unusually close to consensus, and are apt to kill volatility for the next few sessions," said Alan Ruskin, chief international strategist with Greenwich Capital Markets in Greenwich, Connecticut.
Read more at Reuters.com Bonds News
French Bonds Rise as Opinion Polls Show Sarkozy Will Win Presidential Vote
(Bloomberg) -- French government bonds advanced today as opinion polls showed Nicolas Sarkozy has extended his lead over Segolene Royal two days before the country's presidential election.
The extra yield investors demand to hold French debt over German bunds has narrowed from the widest in two and a half years since late March as Sarkozy pulled ahead of Socialist Party rival Royal. Sarkozy won the April 22 first-round ballot for the presidency.
Read more at Bloomberg Bonds News
The extra yield investors demand to hold French debt over German bunds has narrowed from the widest in two and a half years since late March as Sarkozy pulled ahead of Socialist Party rival Royal. Sarkozy won the April 22 first-round ballot for the presidency.
Read more at Bloomberg Bonds News
Wells Fargo to acquire Greater Bay
(Reuters) - The bank and mortgage lender said assuming a Wells Fargo measurement price between $32.175 and $39.325, the total value of the deal would be about $1.5 billion.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Sears shares fall after weak sales report
(Reuters) - The company also forecast earnings per share of $1.30 to $1.53 a share for the quarter, which ends on Saturday.
But the impact of several one-time items will add 27 cents a share, the company said. Excluding those items, the forecast range is $1.03 a share to $1.26, below the average analyst view of $1.46 a share, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
But the impact of several one-time items will add 27 cents a share, the company said. Excluding those items, the forecast range is $1.03 a share to $1.26, below the average analyst view of $1.46 a share, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Eni, Continental Shares May Benefit From Company Breakup, Merrill Says
(Bloomberg) -- Shares of Eni SpA, Italy's largest oil company, and German tiremaker Continental AG have the most potential to gain among European businesses susceptible to a breakup, a study by Merrill Lynch & Co. showed.
The U.S. brokerage put together a list of companies in the region whose businesses rely on two or more divisions and where the units are worth more than the whole, it wrote in a report dated May 1. Merrill's candidates are cheaper than the market relative to earnings and have a ``realistic chance of a breakup'' because of lack of synergies, or a new management or strategy.
Read more at Bloomberg Stocks News
The U.S. brokerage put together a list of companies in the region whose businesses rely on two or more divisions and where the units are worth more than the whole, it wrote in a report dated May 1. Merrill's candidates are cheaper than the market relative to earnings and have a ``realistic chance of a breakup'' because of lack of synergies, or a new management or strategy.
Read more at Bloomberg Stocks News
Futures gain on Yahoo report, jobs data eyed
(Reuters) - The U.S. payrolls report, due at 8:30 a.m , will be scrutinized for further clues about the outlook for interest rates. It is forecast to show employers created 100,000 jobs in April, compared with 180,000 in March.
Yahoo's shares rose 17.7 percent to $33.20 in electronic trading after the New York Post reported Microsoft, the world's biggest software company, has asked the Web media company to return to formal talks. Microsoft shares fell 1.4 percent to $30.53.
Read more at Reuters.com Business News
Yahoo's shares rose 17.7 percent to $33.20 in electronic trading after the New York Post reported Microsoft, the world's biggest software company, has asked the Web media company to return to formal talks. Microsoft shares fell 1.4 percent to $30.53.
Read more at Reuters.com Business News
US STOCKS-Futures gain on Yahoo report, jobs data eyed
(Reuters) - NEW YORK, May 4 - U.S. stock futures rose on Friday, boosted by takeover news, including a report Microsoft , will be scrutinized for further clues about the outlook for interest rates. It is forecast to show employers created 100,000 jobs in April, compared with 180,000 in March.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
UPDATE 1-PSEG 1st-qtr earnings jump 62 pct
(Reuters) - Net income rose to $329 million, or $1.30 per share, from $203 million, or 81 cents per share, a year earlier.
Excluding special items, the company reported earnings of $335 million, or $1.32 per share.
Read more at Reuters.com Market News
Excluding special items, the company reported earnings of $335 million, or $1.32 per share.
Read more at Reuters.com Market News
Deutsche Bank Holds Lead as Top Currency Trader, UBS Closes Gap in Second
(Bloomberg) -- Deutsche Bank AG held its lead as the biggest foreign-exchange bank in the $1.9 trillion-a-day currency market for a third straight year, while UBS AG narrowed the gap, according to a Euromoney survey.
Frankfurt-based Deutsche Bank, Europe's biggest securities firm, had a 19.3 percent share of currency dealings between banks and customers, little changed from a year ago, the survey showed. UBS raised its share to 14.9 percent, from 11.9 percent.
Read more at Bloomberg Currencies News
Frankfurt-based Deutsche Bank, Europe's biggest securities firm, had a 19.3 percent share of currency dealings between banks and customers, little changed from a year ago, the survey showed. UBS raised its share to 14.9 percent, from 11.9 percent.
Read more at Bloomberg Currencies News
Gold market waits for U.S. jobs data
(Reuters) - Spot gold at 1030 GMT was at $681.25/681.75 an ounce, little changed from $681.10/681.60 late in New York on Thursday, when it gained about $10 on fund buying, a mining strike in gold producer Peru and a rally in base metals.
U.S. non-farm payrolls for April due later on Friday are expected show a 100,000 rise compared with a gain of 180,000 in March, while the unemployment rate is forecast at 4.5 percent from 4.4 percent.
Read more at Reuters.com Hot Stocks News
U.S. non-farm payrolls for April due later on Friday are expected show a 100,000 rise compared with a gain of 180,000 in March, while the unemployment rate is forecast at 4.5 percent from 4.4 percent.
Read more at Reuters.com Hot Stocks News
Zambia Mufulira copper mine may reopen next week
(Reuters) - Zambia's Mufulira copper mine may restart partial production next week at a shaft which was flooded a fortnight ago, a senior union official said on Friday.
National Union of Allied and Mining Workers general secretary Albert Mando said the mine had made good progress pumping out water in two levels of the underground mine.
Read more at Reuters Africa
National Union of Allied and Mining Workers general secretary Albert Mando said the mine had made good progress pumping out water in two levels of the underground mine.
Read more at Reuters Africa
European shares hit highs early; M&A, payrolls eyed
(Reuters) - At 0815 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,584.69 points, after earlier having hit a high of 1,586.54.
Both Germany's DAX and France's CAC 40 were unchanged.
Read more at Reuters.com Hot Stocks News
Both Germany's DAX and France's CAC 40 were unchanged.
Read more at Reuters.com Hot Stocks News
European Stocks Rise for Fourth Day on Takeovers; EMI, BHP, Reuters Climb
(Bloomberg) -- European stocks rose for a fourth day after EMI Group Plc, the world's third-largest music company, said it received takeover approaches and Merrill Lynch & Co. predicted BHP Billiton Ltd. could be broken up and sold for $201 billion.
``Takeover activity will accelerate in 2007,'' said Klaus Hagedorn, who manages about $850 million at Metzler Investment GmbH in Frankfurt. ``This will boost equity markets.''
Read more at Bloomberg Stocks News
``Takeover activity will accelerate in 2007,'' said Klaus Hagedorn, who manages about $850 million at Metzler Investment GmbH in Frankfurt. ``This will boost equity markets.''
Read more at Bloomberg Stocks News
European Stocks Rise for Fourth Day on Takeovers; EMI, BHP, Hanson Climb
(Bloomberg) -- European stocks rose for a fourth day after EMI Group Plc, the world's third-largest music company, said it received takeover approaches and Merrill Lynch & Co. predicted BHP Billiton Ltd. could be broken up and sold for $201 billion.
``Takeover activity will accelerate in 2007,'' said Klaus Hagedorn, who manages about $850 million at Metzler Investment GmbH in Frankfurt. ``This will boost equity markets.''
Read more at Bloomberg Stocks News
``Takeover activity will accelerate in 2007,'' said Klaus Hagedorn, who manages about $850 million at Metzler Investment GmbH in Frankfurt. ``This will boost equity markets.''
Read more at Bloomberg Stocks News
Crude Oil Gives Up Early Gains to Trade Close to $63 a Barrel in New York
(Bloomberg) -- Crude oil gave up earlier gains and fell close to $63 a barrel in New York.
Crude oil for June delivery fell 2 cents to $63.18 a barrel in after-hours electronic trading on the New York Mercantile Exchange at 9:03 a.m. in London.
Read more at Bloomberg Energy News
Crude oil for June delivery fell 2 cents to $63.18 a barrel in after-hours electronic trading on the New York Mercantile Exchange at 9:03 a.m. in London.
Read more at Bloomberg Energy News
Schindler buys America's Sterling Elevator
(Reuters) - The financial terms of the deal were not disclosed.
"This acquisition demonstrates Schindler's commitment to grow strategically through the acquisition of quality independent elevator service companies," said Schindler's Vice President of Business Development John Impellizzeri. Sterling Elevator, LLC, focused on elevator installation, service, repairs and modernisation within the Seattle area, Schindler said.
Read more at Reuters.com Mergers News
"This acquisition demonstrates Schindler's commitment to grow strategically through the acquisition of quality independent elevator service companies," said Schindler's Vice President of Business Development John Impellizzeri. Sterling Elevator, LLC, focused on elevator installation, service, repairs and modernisation within the Seattle area, Schindler said.
Read more at Reuters.com Mergers News
Chicago Wheat Declines as Kansas May Produce More; Corn Little Changed
(Bloomberg) -- Chicago wheat fell as participants in a U.S. wheat tour estimated Kansas, the largest wheat-growing state, will produce 35 percent more of the grain this year than last. Corn prices were little changed.
The hard-red winter wheat crop in Kansas will be about 392 million bushels, the average estimate of experts inspecting fields since April 30. The state harvested 291.2 million bushels last year, the U.S. Department of Agriculture said in January.
Read more at Bloomberg Commodities News
The hard-red winter wheat crop in Kansas will be about 392 million bushels, the average estimate of experts inspecting fields since April 30. The state harvested 291.2 million bushels last year, the U.S. Department of Agriculture said in January.
Read more at Bloomberg Commodities News
MSCI sets changes to new world, emerging indexes
(Reuters) - Index compiler MSCI Barra announced on Thursday the list of constituents of its new MSCI Global Investable Market Indexes, including benchmarks for world and emerging market stocks.
The largest constituents of the new MSCI Provisional World Standard Index that are not included in the widely emulated MSCI World Index are ConocoPhillips, Toronto-Dominion Bank, Schering-Plough Group, Standard Chartered, Colgate-Palmolive and BMW.
Read more at Reuters Africa
The largest constituents of the new MSCI Provisional World Standard Index that are not included in the widely emulated MSCI World Index are ConocoPhillips, Toronto-Dominion Bank, Schering-Plough Group, Standard Chartered, Colgate-Palmolive and BMW.
Read more at Reuters Africa
Nigeria oil windfall savings at $9.57 bln - cenbank
(Reuters) - Nigeria's savings from high international oil prices stood at $9.57 billion on April 25, a month before President Olusegun Obasanjo is due to stand down, the central bank said on Thursday.
Oil prices have been consistently above the country's budgeted price since 2000, and Africa's top oil producer has been saving this excess since 2003 when Obasanjo introduced a series of IMF-backed budget reforms.
Read more at Reuters Africa
Oil prices have been consistently above the country's budgeted price since 2000, and Africa's top oil producer has been saving this excess since 2003 when Obasanjo introduced a series of IMF-backed budget reforms.
Read more at Reuters Africa
Allstate unit to get subpoena on Katrina
(Reuters) - The U.S. Department of Homeland Security has told the company that its Allstate Insurance Co. unit will be served with a subpoena for documents with respect to homeowners' claims arising from the hurricane, Allstate said in the filing with the U.S. Securities and Exchange Commission.
U.S. Congress authorised the department in 2006 to investigate insurers participating in the National Flood Insurance Program, Allstate said.
Read more at Reuters.com Government Filings News
U.S. Congress authorised the department in 2006 to investigate insurers participating in the National Flood Insurance Program, Allstate said.
Read more at Reuters.com Government Filings News
U.K. Stocks Advance, Paced by Hanson, EMI, BHP Billiton and Rio Tinto
(Bloomberg) -- U.K. stocks climbed, paced by Hanson Plc, BHP Billiton Ltd., Rio Tinto Plc and EMI Group Plc.
The benchmark FTSE 100 Index rallied 11.2, or 0.2 percent, to 6549.0 in London at 8:11 a.m. The FTSE All-Share Index added 6.8, or 0.2 percent, to 3405.03. Ireland's ISEQ Index climbed 0.2 percent to 9839.94.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index rallied 11.2, or 0.2 percent, to 6549.0 in London at 8:11 a.m. The FTSE All-Share Index added 6.8, or 0.2 percent, to 3405.03. Ireland's ISEQ Index climbed 0.2 percent to 9839.94.
Read more at Bloomberg Stocks News
France's Publicis eyeing more acquisitions - report
(Reuters) - "We also have external growth projects, notably in marketing services and the digital sector. These purchases will not be of the same size as the Digitas acquisition, but they will allow us to complete our offer in France, Germany, Russia, and China," Maurice Levy told daily Le Figaro.
"Publicis will then have a chance to be the world's third-largest communications group in 2009," he added.
Read more at Reuters.com Mergers News
"Publicis will then have a chance to be the world's third-largest communications group in 2009," he added.
Read more at Reuters.com Mergers News
Bank Indonesia Sees Strong Possibility of Interest Rate Cut, Sarwono Says
(Bloomberg) -- Indonesia's central bank sees a ``strong possibility'' of an interest rate cut next week, after inflation unexpectedly slowed last month and the rupiah strengthened, Deputy Governor Hartadi Sarwono said.
Consumer prices rose 6.3 percent in April from a year ago, compared with 6.5 percent in March, and lower than the median 6.5 percent forecast of 21 economists surveyed by Bloomberg.
Read more at Bloomberg Emerging Markets News
Consumer prices rose 6.3 percent in April from a year ago, compared with 6.5 percent in March, and lower than the median 6.5 percent forecast of 21 economists surveyed by Bloomberg.
Read more at Bloomberg Emerging Markets News
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