(Reuters) - The transaction is expected to close within 60 days, the company said.
Read more at Reuters.com Mergers News
Wednesday, May 9, 2007
European Government Bonds Decline as ECB Expected to Signal Rate Increase
(Bloomberg) -- European government bonds fell before a meeting of European Central Bank policy makers who will probably signal an increase in interest rates next month after keeping them on hold today.
Benchmark two-year yields are near the highest in five years, and have climbed about 30 basis points since the ECB last lifted borrowing costs in March, as traders bet rates will rise twice more this year to 4.25 percent. President Jean-Claude Trichet may repeat the ECB's determination to combat inflation.
Read more at Bloomberg Bonds News
Benchmark two-year yields are near the highest in five years, and have climbed about 30 basis points since the ECB last lifted borrowing costs in March, as traders bet rates will rise twice more this year to 4.25 percent. President Jean-Claude Trichet may repeat the ECB's determination to combat inflation.
Read more at Bloomberg Bonds News
Malaysia's Maybank, Facing Backlash, Drops Ethnic Malay Rule for Law Firm
(Bloomberg) -- Malayan Banking Bhd., Malaysia's biggest bank, removed a guideline requiring law firms it employs to have at least one ethnic Malay partner, seeking to quell criticism by oppositions groups and lawyers.
The Democratic Action Party yesterday asked Malaysia's central bank to stop the lender and rival AmBank Bhd. from imposing racial rules on their lawyers. The policies were posted on the Malaysian Bar Council's Web site, where Maybank stated law firms it employs should have a minimum of three partners and at least one ethnic Malay with 50 percent equity in the firm.
Read more at Bloomberg Emerging Markets News
The Democratic Action Party yesterday asked Malaysia's central bank to stop the lender and rival AmBank Bhd. from imposing racial rules on their lawyers. The policies were posted on the Malaysian Bar Council's Web site, where Maybank stated law firms it employs should have a minimum of three partners and at least one ethnic Malay with 50 percent equity in the firm.
Read more at Bloomberg Emerging Markets News
Asian Currencies: Indonesia's Rupiah Climbs to Highest in Almost a Year
(Bloomberg) -- Indonesia's rupiah climbed to the highest in almost a year on speculation the central bank will let the currency gain as overseas investors purchase the nation's stocks and bonds.
The currency strengthened for a second day as Finance Minister Sri Mulyani Indrawati said he's comfortable with the rupiah appreciating to as strong as 8,500, an increase of 3 percent from today's level. The currency has surged 3.8 percent this month, the world's best performer.
Read more at Bloomberg Currencies News
The currency strengthened for a second day as Finance Minister Sri Mulyani Indrawati said he's comfortable with the rupiah appreciating to as strong as 8,500, an increase of 3 percent from today's level. The currency has surged 3.8 percent this month, the world's best performer.
Read more at Bloomberg Currencies News
Softbank Credit-Default Swaps May Drop as Sales Gain, Morgan Stanley Says
(Bloomberg) -- Investors may make more bets on the improving finances of Softbank Corp., Japan's third-largest mobile phone company, by selling credit-default swaps, Morgan Stanley Japan Securities Co. said.
Sellers of the derivatives, which provide buyers with protection from a firm's inability to repay debt, are attracted by a price that overstates the chance Softbank will fail to meet its obligations, said Hidetoshi Ohashi, a Morgan Stanley credit analyst in Tokyo. The extra yield investors demand to hold Softbank bonds over Japanese swap rates has halved in the past year. Spreads on Softbank credit-default swaps fell by a quarter.
Read more at Bloomberg Bonds News
Sellers of the derivatives, which provide buyers with protection from a firm's inability to repay debt, are attracted by a price that overstates the chance Softbank will fail to meet its obligations, said Hidetoshi Ohashi, a Morgan Stanley credit analyst in Tokyo. The extra yield investors demand to hold Softbank bonds over Japanese swap rates has halved in the past year. Spreads on Softbank credit-default swaps fell by a quarter.
Read more at Bloomberg Bonds News
Bernanke, Unshaken by Economic Slowdown, Keeps Fed's Focus on Inflation
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, unshaken by the weakest economic growth in four years, is giving no quarter to inflation.
The Fed's Open Market Committee yesterday repeated its assessment from March 21 that persistent inflation remains the ``predominant policy concern.'' The central bank held its main interest rate at 5.25 percent, the level it's been at since June.
Read more at Bloomberg Bonds News
The Fed's Open Market Committee yesterday repeated its assessment from March 21 that persistent inflation remains the ``predominant policy concern.'' The central bank held its main interest rate at 5.25 percent, the level it's been at since June.
Read more at Bloomberg Bonds News
China's Trade Surplus Likely Widened, Stoking Calls for Yuan Appreciation
(Bloomberg) -- China's trade surplus probably widened in April, adding fuel to U.S. demands for faster appreciation of the yuan before policy makers of the two nations meet this month.
The gap climbed to $15 billion from $10.4 billion in April last year and from $6.9 billion in March, according to the median estimate of 18 economists surveyed by Bloomberg News. That would bring the surplus for the first four months to $61.4 billion, up 82 percent from the same period last year. The figures will be released as early as today.
Read more at Bloomberg Emerging Markets News
The gap climbed to $15 billion from $10.4 billion in April last year and from $6.9 billion in March, according to the median estimate of 18 economists surveyed by Bloomberg News. That would bring the surplus for the first four months to $61.4 billion, up 82 percent from the same period last year. The figures will be released as early as today.
Read more at Bloomberg Emerging Markets News
Cirrus, Citi Trends, Knot, WebSideStory, Whole Foods: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges tomorrow. This preview includes news that broke after exchanges closed. Stock symbols are in parentheses after company names.
Cirrus Logic Inc. (CRUS US) fell 73 cents, or 8.5 percent, to $7.90 in trading after the official close of U.S. exchanges. The maker of microchips for video and audio players forecast revenue of as much as $44 million in the fiscal first quarter. That lagged behind the average estimate of $47.4 million from nine analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Cirrus Logic Inc. (CRUS US) fell 73 cents, or 8.5 percent, to $7.90 in trading after the official close of U.S. exchanges. The maker of microchips for video and audio players forecast revenue of as much as $44 million in the fiscal first quarter. That lagged behind the average estimate of $47.4 million from nine analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Mexico's Satmex sets May 30 for takeover bids
(Reuters) - A company spokesman confirmed the accuracy of the memo.
Satelites Mexicanos, or Satmex, was initially expected to receive bids during the first half of May, although the company never set an exact date.
Read more at Reuters.com Bonds News
Satelites Mexicanos, or Satmex, was initially expected to receive bids during the first half of May, although the company never set an exact date.
Read more at Reuters.com Bonds News
Corn Rises on Concern Newly Planted U.S. Crop May Be Damaged by July Heat
(Bloomberg) -- Corn futures in Chicago rose, erasing an earlier loss, on speculation seeds planted in wet Midwest soils may be damaged by heat and dryness in July.
U.S. planting was 53 percent complete as of May 6, up from 23 percent a week earlier, the biggest one-week advance since 1999. Root growth may be hampered by flooding in fields from Oklahoma to North Dakota and above-normal soil moisture east of the Mississippi River, reducing yields.
Read more at Bloomberg Commodities News
U.S. planting was 53 percent complete as of May 6, up from 23 percent a week earlier, the biggest one-week advance since 1999. Root growth may be hampered by flooding in fields from Oklahoma to North Dakota and above-normal soil moisture east of the Mississippi River, reducing yields.
Read more at Bloomberg Commodities News
Kaman, Somaxon, Toreador, Somaxon, TreeHouse: U.S. Equity Movers Final
(Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.
Allscripts Healthcare Solutions Inc. (MDRX US) fell $3.14, or 12 percent, to $23.92. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Allscripts Healthcare Solutions Inc. (MDRX US) fell $3.14, or 12 percent, to $23.92. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
UPDATE 2-Mexico consumer prices dip 0.06 pct in April
(Reuters) - Closely watched core inflation, which strips out volatile food and energy prices, totaled 0.20 percent in April, the central bank said on Wednesday.
The central bank said lower electricity prices in the two northern states of Coahuila and Nuevo Leon, as well as cheaper onions and other vegetables, pulled consumer prices down in April, despite an increase in the cost of tomatoes, rent and low-octane gasoline.
Read more at Reuters.com Bonds News
The central bank said lower electricity prices in the two northern states of Coahuila and Nuevo Leon, as well as cheaper onions and other vegetables, pulled consumer prices down in April, despite an increase in the cost of tomatoes, rent and low-octane gasoline.
Read more at Reuters.com Bonds News
UPDATE 1-Brinker same-store sales fell 1.2 pct in April
(Reuters) - The results marked the 14th straight month of same-store sales declines for Brinker, which like many other casual dining companies has been hurt by weakened consumer spending and stiff competition in the bar-and-grill category.
At Chili's, Brinker's flagship bar-and-grill chain, same-store sales fell 0.7 percent in the five weeks ended May 2.
Read more at Reuters.com Market News
At Chili's, Brinker's flagship bar-and-grill chain, same-store sales fell 0.7 percent in the five weeks ended May 2.
Read more at Reuters.com Market News
UPDATE 1-US "totally frustrated" with China on yuan-Treasury
(Reuters) - "We're totally frustrated with the pace of reform in China," Mark Sobel, deputy assistant Treasury secretary for international monetary and financial policy, said during a House of Representatives hearing on currency issues.
Sobel also told lawmakers the Treasury Department will issue its next semi-annual report on foreign currency practices after a high-level May 22-24 meeting with Chinese officials.
Read more at Reuters.com Bonds News
Sobel also told lawmakers the Treasury Department will issue its next semi-annual report on foreign currency practices after a high-level May 22-24 meeting with Chinese officials.
Read more at Reuters.com Bonds News
US STOCKS-Wall Street indexes rise after Fed meeting
(Reuters) - NEW YORK, May 9 - U.S. stocks rose on Wednesday as investors came back into the market after a Federal Reserve's policy meeting that ended without unwelcome surprises.
The Federal Reserve held benchmark interest rates steady and restated its concerns about inflation.
Read more at Reuters.com Bonds News
The Federal Reserve held benchmark interest rates steady and restated its concerns about inflation.
Read more at Reuters.com Bonds News
April apparel sales hurt by weather, Easter
(Reuters) - The April decline dragged the three-month moving average for women's apparel sales down to a fall of 0.3 percent, the worst level in more than a year, according SpendingPulse, a retail data service of MasterCard Advisors, which is part of MasterCard Worldwide.
That compares with an average of up 3.1 percent in the three months ended in March, Michael McNamara, vice president of research and analysis for SpendingPulse, said.
Read more at Reuters.com Business News
That compares with an average of up 3.1 percent in the three months ended in March, Michael McNamara, vice president of research and analysis for SpendingPulse, said.
Read more at Reuters.com Business News
Finning raises dividend as profit climbs
(Reuters) - Finning, which has operations in Canada, South America and the United Kingdom, said it had a record backlog of business and would hike its quarterly dividend by 12.5 percent to 18 Canadian cents a share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 2-Mexico April auto exports fall for fifth month
(Reuters) - However, auto production rose 10.8 percent, the Mexican Automotive Industry Association said, as car and truck makers bet on a rebound in exports to the United States by mid-year.
"We expect exports to begin to show signs of recovery in June," AMIA head Cesar Flores told reporters.
Read more at Reuters.com Economic News
"We expect exports to begin to show signs of recovery in June," AMIA head Cesar Flores told reporters.
Read more at Reuters.com Economic News
U.K. Mining Shares Rise, Led by Rio Tinto, BHP Billiton; Sage Group Drops
(Bloomberg) -- U.K. mining stocks advanced, led by Rio Tinto Group on speculation BHP Billiton Ltd. may make an offer for the company. The shares rose to a record.
Sage Group Plc paced declining shares after the software publishing company reported a drop in earnings. Prudential Plc slid after JPMorgan Cazenove lowered its recommendation for Britain's second-biggest insurer. Shares of DSG International Plc rose after Morgan Stanley upgraded the stock.
Read more at Bloomberg Stocks News
Sage Group Plc paced declining shares after the software publishing company reported a drop in earnings. Prudential Plc slid after JPMorgan Cazenove lowered its recommendation for Britain's second-biggest insurer. Shares of DSG International Plc rose after Morgan Stanley upgraded the stock.
Read more at Bloomberg Stocks News
DirecTV profit jumps but shares fall
(Reuters) - While some analysts were relieved DirecTV was still able to add customers in the face of tough competition from cable companies, which are selling broadband and telephone services as well as video services, the cost of attracting and keeping those subscribers were greater than expected.
"There's no question that the road ahead is getting tougher for the satellite companies," said Sanford C. Bernstein analyst Craig Moffett who noted that while the company managed to keep customer cancellations in check it added fewer subscribers in the first quarter this year than it had a year ago.
Read more at Reuters.com Hot Stocks News
"There's no question that the road ahead is getting tougher for the satellite companies," said Sanford C. Bernstein analyst Craig Moffett who noted that while the company managed to keep customer cancellations in check it added fewer subscribers in the first quarter this year than it had a year ago.
Read more at Reuters.com Hot Stocks News
UPDATE 1-IDM Pharma cancer drug data unclear-US FDA panel
(Reuters) - The U.S. Food and Drug Administration's panel of outside experts said a clinical study of the drug, also known as mifamurtide, was unclear and difficult to interpret.
IDM Pharma is seeking FDA approval for Junovan, called Mepact in Europe, to treat the cancer after patients undergo surgery and chemotherapy.
Read more at Reuters.com Government Filings News
IDM Pharma is seeking FDA approval for Junovan, called Mepact in Europe, to treat the cancer after patients undergo surgery and chemotherapy.
Read more at Reuters.com Government Filings News
Total links Sanofi stake sale to Plavix ruling
(Reuters) - Castaigne's remarks were reported in France's Challenges magazine.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
UPDATE 1-Standard & Poor's could up Fiat rating - spokesman
(Reuters) - The upgrade would depend on the performance of its auto division, which had already improved significantly since a major restructuring a few years ago, said the spokeswoman, confirming comments made by analyst Nicolas Baudouin at a Paris event.
Standard & Poor's has Fiat at "BB" with a positive outlook.
Read more at Reuters.com Bonds News
Standard & Poor's has Fiat at "BB" with a positive outlook.
Read more at Reuters.com Bonds News
Wheat Rises After Egypt Purchase Signals Price Slump May Spur U.S. Exports
(Bloomberg) -- Wheat rose in Chicago on speculation importers of U.S. supplies may increase purchases after the price fell 7 percent in two weeks.
Egypt, the world's largest importer of the grain, bought 115,000 metric tons of U.S. wheat for delivery in June in a tender overnight. Futures have fallen from a six-month high on April 25 as conditions of the U.S. winter wheat crop improved.
Read more at Bloomberg Commodities News
Egypt, the world's largest importer of the grain, bought 115,000 metric tons of U.S. wheat for delivery in June in a tender overnight. Futures have fallen from a six-month high on April 25 as conditions of the U.S. winter wheat crop improved.
Read more at Bloomberg Commodities News
Germany confirms stance that Wolfowitz should resign
(Reuters) - "She made it clear to that his voluntary resignation was the best solution for the bank and its goals," Kortmann told lawmakers in the lower house of parliament.
Wieczorek-Zeul, responsible for World Bank issues in Chancellor Angela Merkel's ruling coalition, laid out Germany's position on the Wolfowitz issue in a newspaper interview at the end of last month.
Read more at Reuters.com Bonds News
Wieczorek-Zeul, responsible for World Bank issues in Chancellor Angela Merkel's ruling coalition, laid out Germany's position on the Wolfowitz issue in a newspaper interview at the end of last month.
Read more at Reuters.com Bonds News
Power Financial profit up 18 pct, dividend raised
(Reuters) - The company also raised its quarterly dividend by 8.4 percent to 29 Canadian cents a share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Fannie Mae launches $1.0 bln benchmark REMIC
(Reuters) - Citigroup Global Markets, JP Morgan and UBS Securities will be the joint lead managers on the sale.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Brazil's Real Holds Near Six-Year High Before Fed Interest-Rate Decision
(Bloomberg) -- Brazil's real held near a six-year high ahead of the Federal Reserve's interest-rate policy decision. Traders said the real may gain should the Fed maintain its view that the economy is expanding ``at a moderate pace.''
``The real is trading in a tight range as everyone is waiting for the Fed meeting,'' said Alexandre Lintz, a senior economist with BNP Paribas SA in Sao Paulo. ``The real has more room to gain. The growth outlook is still quite positive in Brazil.''
Read more at Bloomberg Currencies News
``The real is trading in a tight range as everyone is waiting for the Fed meeting,'' said Alexandre Lintz, a senior economist with BNP Paribas SA in Sao Paulo. ``The real has more room to gain. The growth outlook is still quite positive in Brazil.''
Read more at Bloomberg Currencies News
St. Jude gets FDA OK on new implantable heart devices
(Reuters) - St. Jude's Current implantable cardioverter defibrillator, or ICD, and Promote cardiac resynchronization therapy defibrillator, known as CRT-D, are the company's first devices to be built on its new consolidated hardware and software platform to support implantable cardiac devices.
The new platform enables the company to more quickly update all devices with new features and diagnostics as they because available because the basic framework for all the devices will be the same.
Read more at Reuters.com Market News
The new platform enables the company to more quickly update all devices with new features and diagnostics as they because available because the basic framework for all the devices will be the same.
Read more at Reuters.com Market News
BNP Paribas says no plans to sell BancWest
(Reuters) - Last month, investment bank UBS published a research note saying BNP Paribas could consider selling BancWest.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
TXU posts quarterly loss on canceled power plants
(Reuters) - TXU said it took an after-tax charge of $941 million, or $2.02 per share, including a $463 million charge for canceled power plant projects and a $449 million charge for changes in the market value of its trading positions.
Excluding special items, operating earnings were 96 cents per share, down from $1.12 a year earlier and well below analysts' average forecast of $1.11 as compiled by Reuters Estimates.
Read more at Reuters.com Business News
Excluding special items, operating earnings were 96 cents per share, down from $1.12 a year earlier and well below analysts' average forecast of $1.11 as compiled by Reuters Estimates.
Read more at Reuters.com Business News
UPDATE 1- Legg Mason says quarterly profits jump 15 pct
(Reuters) - Legg Mason said net income rose to $172.5 million or $1.19 per share in its fourth fiscal quarter, from $150.1 million, or $1.03, a year earlier. Revenue rose 8.5 percent to a record $1.14 billion.
Wall Street analysts, according to Reuters Estimates, had forecast earnings of $1.16 for the Baltimore-based company, which swapped its brokerage arm for Citigroup's asset management division in 2005 in the biggest-ever deal in the mutual fund industry.
Read more at Reuters.com Market News
Wall Street analysts, according to Reuters Estimates, had forecast earnings of $1.16 for the Baltimore-based company, which swapped its brokerage arm for Citigroup's asset management division in 2005 in the biggest-ever deal in the mutual fund industry.
Read more at Reuters.com Market News
Somaxon says may delay approval submission for sleep drug
(Reuters) - The U.S. Food and Drug Administration has asked the company to include assessment of whether the drug has potential to cause cancer, Somaxon said in a statement.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Turkish Stocks Climb, Paced by Hurriyet on Upgrade: World's Biggest Mover
(Bloomberg) -- Turkish stocks rose for a second day, recovering some of last week's losses that were triggered by concern about political instability in the country.
Hurriyet Gazetecilik & Matbaacilik AS gained after Deutsche Bank AG recommended buying shares in the publishing company.
Read more at Bloomberg Stocks News
Hurriyet Gazetecilik & Matbaacilik AS gained after Deutsche Bank AG recommended buying shares in the publishing company.
Read more at Bloomberg Stocks News
U.S. Stock-Index Futures Drop Before Fed Decision; Cisco, Disney Decline
(Bloomberg) -- U.S. stock-index futures fell after forecasts from Cisco Systems Inc. and Walt Disney Co. spurred concern that profit growth may stall amid a slowdown in the world's largest economy.
Cisco, the biggest maker of computer-networking equipment, fell after its sales outlook missed analysts' estimates for the first time in a year. Disney declined after the second-largest U.S. media company told investors it may struggle to generate revenue growth.
Read more at Bloomberg Stocks News
Cisco, the biggest maker of computer-networking equipment, fell after its sales outlook missed analysts' estimates for the first time in a year. Disney declined after the second-largest U.S. media company told investors it may struggle to generate revenue growth.
Read more at Bloomberg Stocks News
Brazilian Real, Mexican Peso, Peru's Sol: Latin American Currency Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American currencies today. Exchange rates are from the previous session.
Brazilian real: The IGP-DI index, an inflation indicator, rose 0.14 percent in April, after increasing 0.22 percent during March, the Getulio Vargas Foundation said yesterday. The median forecast of 15 economists in a Bloomberg survey was for a gain of 0.05 percent.
Read more at Bloomberg Currencies News
Brazilian real: The IGP-DI index, an inflation indicator, rose 0.14 percent in April, after increasing 0.22 percent during March, the Getulio Vargas Foundation said yesterday. The median forecast of 15 economists in a Bloomberg survey was for a gain of 0.05 percent.
Read more at Bloomberg Currencies News
Chevron sells Philippine LPG business to Petron
(Reuters) - Petron officials declined to disclose how much they paid for the business.
Petron, 40 percent owned each by the Philippine government and Saudi Aramco, accounts for 37 percent of the local retail LPG market, Virginia Ruivivar, the firm's public affairs manager, told reporters.
Read more at Reuters.com Mergers News
Petron, 40 percent owned each by the Philippine government and Saudi Aramco, accounts for 37 percent of the local retail LPG market, Virginia Ruivivar, the firm's public affairs manager, told reporters.
Read more at Reuters.com Mergers News
TREASURIES-Steady ahead of Fed meeting
(Reuters) - Given that gross domestic product grew just 1.3 percent in the first quarter, the worst performance in four years, and data shows core inflation abating, some analysts suspect officials may shift the balance of risks to neutral.
But many analysts believe the central bank will emphasise that concern about inflation pressure outweighs the economy's housing-led slowdown.
Read more at Reuters.com Bonds News
But many analysts believe the central bank will emphasise that concern about inflation pressure outweighs the economy's housing-led slowdown.
Read more at Reuters.com Bonds News
UPDATE 1-US mortgage applications rise for 3rd straight week
(Reuters) - The Mortgage Bankers Association said its seasonally adjusted applications index increased 3.6 percent in the week ended May 4 to 680.7, its highest level since 690.5 in the week ended March 9.
Average 30-year fixed-rate mortgage rates, excluding fees, fell 0.04 percentage point to 6.10 percent, the lowest since they hit 6.04 percent in the March 23 week. Long-term borrowing costs have fallen about half a percentage point from a year ago, according to the trade group.
Read more at Reuters.com Bonds News
Average 30-year fixed-rate mortgage rates, excluding fees, fell 0.04 percentage point to 6.10 percent, the lowest since they hit 6.04 percent in the March 23 week. Long-term borrowing costs have fallen about half a percentage point from a year ago, according to the trade group.
Read more at Reuters.com Bonds News
Spain's Asco Nuclear Plant Shuts Down Unit Two for Third Time in Four Days
(Bloomberg) -- Spain's Asco-2 nuclear power plant, majority-owned by Endesa SA, unexpectedly halted output for the third time in four days because of a fault.
The operator is dismantling the generator to carry out in- depth checks, a spokesman, who declined to be identified, said today. He couldn't give a date when production will resume.
Read more at Bloomberg Energy News
The operator is dismantling the generator to carry out in- depth checks, a spokesman, who declined to be identified, said today. He couldn't give a date when production will resume.
Read more at Bloomberg Energy News
China cobalt firms mull Congo plants after export ban
(Reuters) - China cobalt importers are considering setting up processing plants in the Democratic Republic of Congo after that country banned concentrate exports earlier this year, Chinese industry officials said on Wednesday.
Many Chinese cobalt processors have complained that their supply of raw material from the Congo has dried up since the ban, said Xu Aidong, an analyst with metals consultancy Antaike in Beijing.
Read more at Reuters Africa
Many Chinese cobalt processors have complained that their supply of raw material from the Congo has dried up since the ban, said Xu Aidong, an analyst with metals consultancy Antaike in Beijing.
Read more at Reuters Africa
FTSE rises as Rio Tinto bid talk boosts miners
(Reuters) - Britain's leading share index rose early on Wednesday as speculation of bid interest for Rio Tinto
from rival BHP Billiton boosted the mining sector.
Read more at Reuters Africa
from rival BHP Billiton boosted the mining sector.
Read more at Reuters Africa
UPDATE 2-Delhaize Q1 sales beat forecasts, helped by U.S.
(Reuters) - BRUSSELS, May 9 - Belgian supermarket group Delhaize's due to the weak dollar. That was above an average forecast of 4.69 billion euros from a Reuters poll of 10 analysts.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Barnes Group Q1 profit up, raises 2007 earnings view
(Reuters) - Revenue from the aerospace division rose 36 percent to $91.2 million on strong growth in original equipment manufacturer and aftermarket sales.
First-quarter earnings rose to $27.7 million, or 50 cents a share, from $18.5 million, or 36 cents a share in the year-ago quarter. Analysts were looking for a profit of 40 cents a share in the latest quarter, according to Reuters Estimates.
Read more at Reuters.com Market News
First-quarter earnings rose to $27.7 million, or 50 cents a share, from $18.5 million, or 36 cents a share in the year-ago quarter. Analysts were looking for a profit of 40 cents a share in the latest quarter, according to Reuters Estimates.
Read more at Reuters.com Market News
Kravis, Goldman, Lee Stymied as Investors Jettison Loose Loan Covenants
(Bloomberg) -- The high-yield loans that provided the most favorable terms to Kohlberg Kravis Roberts & Co. and Thomas H. Lee Partners LP as they completed the biggest leveraged buyouts are drying up.
Investors have scaled back such credit to LBOs by about 33 percent since February, according to ratings company Standard & Poor's. Yields on loans to buyout firms and companies considered below investment grade rose to 7.76 percent from 7.47 percent three months ago, S&P estimates.
Read more at Bloomberg Bonds News
Investors have scaled back such credit to LBOs by about 33 percent since February, according to ratings company Standard & Poor's. Yields on loans to buyout firms and companies considered below investment grade rose to 7.76 percent from 7.47 percent three months ago, S&P estimates.
Read more at Bloomberg Bonds News
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