(Bloomberg) -- Shinhan Card Co., a credit card unit of South Korea's second-largest financial-services company, hired four banks to sell $400 million of bonds, according to an e-mail sent to investors.
Shinhan Card engaged ABN Amro Holding NV, Bank of America Corp., BNP Paribas SA and Goldman Sachs Group Inc. to sell the five-year securities, according to the e-mail. Shinhan will meet investors in Asia and Europe next week for the sale of the senior unsecured notes, the e-mail shows.
Read more at Bloomberg Bonds News
Tuesday, May 1, 2007
Rents Peak in U.S. Housing Market Glut; New York Landlords Escape Decline
(Bloomberg) -- The glut of U.S. properties for sale is about to hit the rental market.
A record number of homeowners who can't sell condominiums and houses are competing for tenants with the country's biggest apartment owners led by Chicago-based Equity Residential, said Jack McCabe, the founder of Deerfield Beach, Florida-based McCabe Research & Consulting LLC. Rents in metropolitan New York, where demand for housing exceeds supply, may be the only place where rents increase, albeit at a slower pace, he said.
Read more at Bloomberg Bonds News
A record number of homeowners who can't sell condominiums and houses are competing for tenants with the country's biggest apartment owners led by Chicago-based Equity Residential, said Jack McCabe, the founder of Deerfield Beach, Florida-based McCabe Research & Consulting LLC. Rents in metropolitan New York, where demand for housing exceeds supply, may be the only place where rents increase, albeit at a slower pace, he said.
Read more at Bloomberg Bonds News
Japanese Shares Climb, Reversing Losses; Steelmakers Gain, Toyota Slides
(Bloomberg) -- Japanese stocks advanced, led by steelmakers, on speculation rising prices for their products signal profit will increase and after the Nikkei newspaper reported the domestic economy will continue to expand.
Nippon Steel Corp. gained 1.1 percent and JFE Holdings Inc. jumped 2.4 percent.
Read more at Bloomberg Stocks News
Nippon Steel Corp. gained 1.1 percent and JFE Holdings Inc. jumped 2.4 percent.
Read more at Bloomberg Stocks News
Dow Jones Drops After Bancroft Family Rejects Takeover: U.S. After-Hours
(Bloomberg) -- Dow Jones & Co. fell in extended U.S. trading after the owner of the Wall Street Journal said Bancroft family members who control more than 50 percent of the company's voting shares will reject a $5 billion takeover bid by Rupert Murdoch's News Corp.
Shares of the New York-based publisher declined 64 cents, or 1.1 percent, to $55.56 as of 5:11 p.m. in New York. Director Michael B. Elefante told the board of the family's decision, Dow Jones said in a statement. News Corp., the third-largest U.S. media company, announced its $60-a-share bid today.
Read more at Bloomberg Stocks News
Shares of the New York-based publisher declined 64 cents, or 1.1 percent, to $55.56 as of 5:11 p.m. in New York. Director Michael B. Elefante told the board of the family's decision, Dow Jones said in a statement. News Corp., the third-largest U.S. media company, announced its $60-a-share bid today.
Read more at Bloomberg Stocks News
South Korean Won Weakens to Two-Week Low as Yield Premium of Debt Narrows
(Bloomberg) -- South Korea's won fell to the lowest in two weeks as the extra yield investors get for buying the nation's bonds compared with U.S. Treasuries narrowed.
Yields on U.S. government debt rose yesterday after a report showed manufacturing growth accelerated in the world's biggest economy and before a report today that may show factory orders quickened in March. The won dropped 0.5 percent since the central bank April 26 said the current-account deficit widened to the most in almost a year.
Read more at Bloomberg Emerging Markets News
Yields on U.S. government debt rose yesterday after a report showed manufacturing growth accelerated in the world's biggest economy and before a report today that may show factory orders quickened in March. The won dropped 0.5 percent since the central bank April 26 said the current-account deficit widened to the most in almost a year.
Read more at Bloomberg Emerging Markets News
Pound Gains Versus Euro as Report Shows Retail Spending Rose in April
(Bloomberg) -- The U.K. pound rose against the euro as a report showed retail spending gained last month, stoking expectations the Bank of England will have to keep raising interest rates to cut above-target inflation.
The pound gained for a third day against the dollar as the Confederation of British Industry said its retail index rose to the highest in two years. The currency snapped a four-day losing streak against the euro yesterday after a separate report showed inflation will exceed the BOE's target for another year.
Read more at Bloomberg Currencies News
The pound gained for a third day against the dollar as the Confederation of British Industry said its retail index rose to the highest in two years. The currency snapped a four-day losing streak against the euro yesterday after a separate report showed inflation will exceed the BOE's target for another year.
Read more at Bloomberg Currencies News
Duke Cheating Scandal Shows Failure of Post-Enron Business Ethics Class
(Bloomberg) -- The cheating episode at Duke University may cause academics to conclude the post-Enron emphasis on teaching ethics in graduate business schools is a failure.
Thirty-four first-year master's of business administration students at Duke's Fuqua School of Business were disciplined in the program's largest cheating scandal. Nine students face expulsion for collaborating on a take-home test, violating the professor's rules.
Read more at Bloomberg Exclusive News
Thirty-four first-year master's of business administration students at Duke's Fuqua School of Business were disciplined in the program's largest cheating scandal. Nine students face expulsion for collaborating on a take-home test, violating the professor's rules.
Read more at Bloomberg Exclusive News
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