(Reuters) - LONDON, April 23 - British Airways Plc said on Monday it has approached a number of private equity companies about making a consortium takeover bid for Spanish airline Iberia .
BA, which owns a 10 percent holding in Iberia, said in a statement that it had ruled out making an independent bid for the airline.
Read more at Reuters.com Mergers News
Sunday, April 22, 2007
Thai Bonds Gain on Expectations Central Bank Will Reduce Growth Forecast
(Bloomberg) -- Thailand's bonds rose on speculation the central bank will tomorrow trim its forecast for economic growth. The baht was little changed.
Ten-year yields are near the lowest in 22 months after reports this month showed consumer confidence fell in March to the lowest in five years, fueling expectations the Bank of Thailand will add to its three interest-rate cuts this year, said Sansanee Hutanuwatr, a bond manager at MFC Asset Management Pcl in Bangkok.
Read more at Bloomberg Bonds News
Ten-year yields are near the lowest in 22 months after reports this month showed consumer confidence fell in March to the lowest in five years, fueling expectations the Bank of Thailand will add to its three interest-rate cuts this year, said Sansanee Hutanuwatr, a bond manager at MFC Asset Management Pcl in Bangkok.
Read more at Bloomberg Bonds News
AstraZeneca confirms to buy MedImmune for $15 bln
(Reuters) - AstraZeneca said the all-cash deal, which was reported by a source close to the situation earlier, was expected to close in June 2007.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
AstraZeneca agrees to buy MedImmune: source
(Reuters) - AstraZeneca declined to comment on the pending acquisition, which was first reported by the Wall Street Journal. The paper said on its Web site the deal could be worth more than $13 billion.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Australia's Newcastle Coal Price Is Little Changed as Congestion Worsens
(Bloomberg) -- Export prices for power-station coal at Newcastle, Australia, the world's largest coal-export terminal, were little changed last week after rising 32 percent since November because of congestion at the port.
The price of thermal coal for immediate delivery from the port of New South Wales state gained 2 cents to $54.41 a metric ton in the week ended April 20, according to the globalCOAL NEWC Index. The price has increased from a low of $41.10 in the second week of November and in February the index reached a 29- month high.
Read more at Bloomberg Energy News
The price of thermal coal for immediate delivery from the port of New South Wales state gained 2 cents to $54.41 a metric ton in the week ended April 20, according to the globalCOAL NEWC Index. The price has increased from a low of $41.10 in the second week of November and in February the index reached a 29- month high.
Read more at Bloomberg Energy News
China shares up 2.7 pct to record in hectic trade
(Reuters) - Turnover in Shanghai A shares was massive at 101.1 billion yuan , up from Friday morning's 81.9 billion yuan and on track to set a record high for the full day. Gainers far outnumbered losers by 791 to 86.
The index plunged 4.52 percent on Thursday after March inflation jumped to 3.3 percent from February's 2.7 percent, threatening to prompt another rate hike and triggering a flurry of profit-taking. The index is up 28 percent since end-February.
Read more at Reuters.com Hot Stocks News
The index plunged 4.52 percent on Thursday after March inflation jumped to 3.3 percent from February's 2.7 percent, threatening to prompt another rate hike and triggering a flurry of profit-taking. The index is up 28 percent since end-February.
Read more at Reuters.com Hot Stocks News
TREASURIES-Slip in Asia as stocks gain, data eyed
(Reuters) - The benchmark Shanghai Composite Index also hit an all-time intra-day high on Monday.
But investors were careful about selling Treasuries heavily ahead of this week's data on housing, capital spending and economic growth, traders said.
Read more at Reuters.com Bonds News
But investors were careful about selling Treasuries heavily ahead of this week's data on housing, capital spending and economic growth, traders said.
Read more at Reuters.com Bonds News
Malaysian Government Bonds May Drop; Central Bank to Keep Rates on Hold
(Bloomberg) -- Malaysia's government bonds may fall on speculation yields near the lowest in 17 months will deter investors as the central bank refrains from cutting interest rates. The ringgit was little changed.
Yields on three-year notes have dropped more than a percentage point since June to below the nation's benchmark borrowing rate. Bank Negara Malaysia will keep its overnight lending rate at 3.5 percent for an eighth straight time when policy makers meet on April 27, according to all 17 economists in a Bloomberg News survey.
Read more at Bloomberg Bonds News
Yields on three-year notes have dropped more than a percentage point since June to below the nation's benchmark borrowing rate. Bank Negara Malaysia will keep its overnight lending rate at 3.5 percent for an eighth straight time when policy makers meet on April 27, according to all 17 economists in a Bloomberg News survey.
Read more at Bloomberg Bonds News
U.K. Considers Starting Islamic Government Bonds, Treasury's Balls to Say
(Bloomberg) -- The U.K. may offer its first-ever Islamic bonds aimed at bringing a larger share of the world's $250 billion Shariah-compliant financial markets to London.
The government's Debt Management Office and the Treasury will publish a study on the costs and benefits for such a bond by the autumn, Treasury Minister Ed Balls will say today.
Read more at Bloomberg Bonds News
The government's Debt Management Office and the Treasury will publish a study on the costs and benefits for such a bond by the autumn, Treasury Minister Ed Balls will say today.
Read more at Bloomberg Bonds News
PREVIEW-DoCoMo may post flat earnings but hike dividend
(Reuters) - *When: KDDI April 24, DoCoMo April 27, Softbank May 8, EAccess May 10, NTT May 11
*Mixed fortunes as new rules on phone numbers shake up industry
Read more at Reuters.com Market News
*Mixed fortunes as new rules on phone numbers shake up industry
Read more at Reuters.com Market News
Apple, Cutera, Genentech, Ladish, Warner Music: 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.
Apple Inc. (AAPL US): Steve Jobs, chief executive officer and co-founder of the computer and electronics maker, is unlikely to face criminal charges for the alleged backdating of stock options because little or no evidence exists to show he was involved, the San Jose Mercury News reported. Apple shares rose 70 cents to $90.97.
Read more at Bloomberg Stocks News
Apple Inc. (AAPL US): Steve Jobs, chief executive officer and co-founder of the computer and electronics maker, is unlikely to face criminal charges for the alleged backdating of stock options because little or no evidence exists to show he was involved, the San Jose Mercury News reported. Apple shares rose 70 cents to $90.97.
Read more at Bloomberg Stocks News
Japan's Nikkei Advances on Earnings; Mizuho, Banks Decline on Loan Report
(Bloomberg) -- Japan's Nikkei 225 Stock Average rose after profit reports from companies including Caterpillar Inc. and Sony Ericsson Mobile Communications raised confidence global economic growth will be sustained.
Fanuc Ltd. and Advantest Corp. led advances.
Read more at Bloomberg Stocks News
Fanuc Ltd. and Advantest Corp. led advances.
Read more at Bloomberg Stocks News
Nikkei advances on hopes for higher profits
(Reuters) - Nippon Steel Corp. and JFE Holdings Inc. rose following a report that Japan's top two steelmakers will likely book record profits for the year to March.
Some strong U.S. earnings results prompted investors to bet that earnings here may also exceed forecasts, said Hideyuki Suzuki, an investment information manager at SBI Securities.
Read more at Reuters.com Hot Stocks News
Some strong U.S. earnings results prompted investors to bet that earnings here may also exceed forecasts, said Hideyuki Suzuki, an investment information manager at SBI Securities.
Read more at Reuters.com Hot Stocks News
Gold Rises to 11-Month High in Asia on Weak Dollar; Silver Little Changed
(Bloomberg) -- Gold rose to its highest level in more than 11 months as a weak U.S. dollar underpinned investor demand. Silver was little changed.
Gold generally moves in the opposite direction of the dollar which dropped to a 27-month low against the euro last week on signs of growing inflation and a stalling growth rate. Gold rose 1.3 percent on April 20 as the dollar, which has fallen more than 10 percent versus the euro over the past year, fell.
Read more at Bloomberg Commodities News
Gold generally moves in the opposite direction of the dollar which dropped to a 27-month low against the euro last week on signs of growing inflation and a stalling growth rate. Gold rose 1.3 percent on April 20 as the dollar, which has fallen more than 10 percent versus the euro over the past year, fell.
Read more at Bloomberg Commodities News
India's Central Bank May Leave Rates Unchanged, Betting Inflation to Slow
(Bloomberg) -- India's central bank will probably leave its benchmark overnight lending rate unchanged, judging that five increases in the past year may be enough to tame inflation in the world's second-fastest growing major economy.
Governor Yaga Venugopal Reddy may keep the Reserve Bank of India's repurchase rate at a five-year high of 7.75 percent, according to 14 of 20 analysts in a Bloomberg News survey. The decision is due tomorrow at noon in Mumbai. He may also maintain banks' reserve requirement at 6.50 percent, the survey said.
Read more at Bloomberg Emerging Markets News
Governor Yaga Venugopal Reddy may keep the Reserve Bank of India's repurchase rate at a five-year high of 7.75 percent, according to 14 of 20 analysts in a Bloomberg News survey. The decision is due tomorrow at noon in Mumbai. He may also maintain banks' reserve requirement at 6.50 percent, the survey said.
Read more at Bloomberg Emerging Markets News
Oil steady, supplies unaffected by Nigerian poll
(Reuters) - London's Brent crude rose a marginal 1 cent to $66.50 a barrel by 0126 GMT, pausing from Friday's 55 cents gain, which came as investors covered short positions ahead of an election they feared could spur more violence against the oil industry.
U.S. crude for June delivery fell 18 cents to $63.93 a barrel after rising a sharper 79 cents on Friday.
Read more at Reuters.com Hot Stocks News
U.S. crude for June delivery fell 18 cents to $63.93 a barrel after rising a sharper 79 cents on Friday.
Read more at Reuters.com Hot Stocks News
Dong Derivatives May Double as Vietnam Beckons to Investors, Speculators
(Bloomberg) -- Vietnam's currency is starting to capture the attention of derivatives traders as Southeast Asia's fastest-growing economy accelerates.
DBS Group Holdings Ltd. and Australia & New Zealand Banking Group Ltd. have begun offshore trading in contracts tied to the future value of the currency, the dong. The $50 million of Vietnamese contracts that trade monthly may double in a year, Standard Chartered Plc estimates. More than $1 billion of Chinese yuan forwards change hands daily in an overseas market that didn't exist 15 years ago, according to HSBC Holdings Plc.
Read more at Bloomberg Bonds News
DBS Group Holdings Ltd. and Australia & New Zealand Banking Group Ltd. have begun offshore trading in contracts tied to the future value of the currency, the dong. The $50 million of Vietnamese contracts that trade monthly may double in a year, Standard Chartered Plc estimates. More than $1 billion of Chinese yuan forwards change hands daily in an overseas market that didn't exist 15 years ago, according to HSBC Holdings Plc.
Read more at Bloomberg Bonds News
South Korean Won Advances to Three-Month High as Overseas Funds Buy Stocks
(Bloomberg) -- South Korea's won rose to the strongest in more than three months after overseas investors bought equities as the benchmark stock index climbed to a record.
The won has advanced for three weeks as reports showed department store sales rose last month, the jobless rate remained at a four-year low and the nation signed a free trade agreement with the U.S. that is expected to boost exports.
Read more at Bloomberg Currencies News
The won has advanced for three weeks as reports showed department store sales rose last month, the jobless rate remained at a four-year low and the nation signed a free trade agreement with the U.S. that is expected to boost exports.
Read more at Bloomberg Currencies News
Gasoline at $4 Coming to a Pump Near You; Consumers Unfazed by Rising Tab
(Bloomberg) -- Whether it's $50 to fill up your Prius or $130 for the Ford Expedition, $4-a-gallon gasoline is coming to a pump near you.
Fuel prices are rising at a pace not seen since Hurricanes Katrina and Rita knocked out a third of the U.S. oil refining industry in 2005. Gasoline consumption is climbing twice as fast as last year and will accelerate when summer travel begins late next month.
Read more at Bloomberg Energy News
Fuel prices are rising at a pace not seen since Hurricanes Katrina and Rita knocked out a third of the U.S. oil refining industry in 2005. Gasoline consumption is climbing twice as fast as last year and will accelerate when summer travel begins late next month.
Read more at Bloomberg Energy News
Utility Stocks Captivating Hedge Funds Incite Bears as Dividends Decline
(Bloomberg) -- The four-year rally in U.S. utility stocks may be about to burn out.
Power producers, the best-performing stocks over the past 12 months, last week led the Standard & Poor's 500 Index to its highest since September 2000. Purchases by hedge funds such as Caxton Associates LLC and SAC Capital Advisors LLC, combined with $173.4 billion in utility takeovers this year, helped fuel the rally.
Read more at Bloomberg Exclusive News
Power producers, the best-performing stocks over the past 12 months, last week led the Standard & Poor's 500 Index to its highest since September 2000. Purchases by hedge funds such as Caxton Associates LLC and SAC Capital Advisors LLC, combined with $173.4 billion in utility takeovers this year, helped fuel the rally.
Read more at Bloomberg Exclusive News
Deloitte says 06/07 revenues to rise 15 pct to $23 bln
(Reuters) - William Parrett, Deloitte's chief executive officer, told Reuters in an interview on the sidelines of the Boao Forum for Asia on the southern Chinese island of Hainan that all of the group's four key business areas would experience double-digit revenue growth for the year.
Growth would be strongest in its consulting business, Parrett said.
Read more at Reuters.com Hot Stocks News
Growth would be strongest in its consulting business, Parrett said.
Read more at Reuters.com Hot Stocks News
Indian, Chinese Newspaper Shares Surge as McClatchy, N.Y. Times Nosedive
(Bloomberg) -- The newspaper business is bad and getting worse, billionaire Warren Buffett said last month. He was talking about U.S. papers, which are among the investments of Berkshire Hathaway Inc., the holding company he heads.
Shares of publishers outside the U.S. are another story.
Read more at Bloomberg Exclusive News
Shares of publishers outside the U.S. are another story.
Read more at Bloomberg Exclusive News
New Zealand's Dollar May Rise From 22-Year High on Appeal of Higher Rates
(Bloomberg) -- The New Zealand dollar may rise from a 22 year high on speculation the central bank will increase interest rates as soon as this week, spurring investment in the nation's higher yielding assets.
There is a 64 percent chance the Reserve Bank of New Zealand will raise the official cash rate from a record 7.5 percent at its review April 26, according to a Credit Suisse Index based on overnight trading in interest-rate swaps. High rates have boosted the local dollar 18 percent over the past 12 months, the best performance among the 16 major currencies tracked by Bloomberg.
Read more at Bloomberg Currencies News
There is a 64 percent chance the Reserve Bank of New Zealand will raise the official cash rate from a record 7.5 percent at its review April 26, according to a Credit Suisse Index based on overnight trading in interest-rate swaps. High rates have boosted the local dollar 18 percent over the past 12 months, the best performance among the 16 major currencies tracked by Bloomberg.
Read more at Bloomberg Currencies News
Virginia Tech readies for classes after massacre
(Reuters) - Church leaders also organized more practical comfort: grandmothers were called on to bake cookies and package them, four to a bag, to be handed out to students on campus as they return to class on Monday.
"We cannot yet fully comprehend what has happened and we will never understand it," the Rev. Reginald Tuck told churchgoers who packed the pews, some weeping quietly through his sermon.
Read more at Reuters.com Bonds News
"We cannot yet fully comprehend what has happened and we will never understand it," the Rev. Reginald Tuck told churchgoers who packed the pews, some weeping quietly through his sermon.
Read more at Reuters.com Bonds News
Dubai's Index Gains for Fifth Day, Saudi Tadawul Declines: Gulf Stock Wrap
(Bloomberg) -- Shares in Dubai, the United Arab Emirates, rose for a fifth consecutive day, led by Dubai Islamic Bank, the world's oldest commercial Islamic bank and Dubai Financial Market PJSC. Shares in Saudi Arabia fell.
The Dubai Financial Market General Index advanced 1 percent to 3904.13, bringing the five-day gain to 3.1 percent. The Abu Dhabi Securities Market Index was little changed, declining less than 0.1 percent to 3090.35.
Read more at Bloomberg Stocks News
The Dubai Financial Market General Index advanced 1 percent to 3904.13, bringing the five-day gain to 3.1 percent. The Abu Dhabi Securities Market Index was little changed, declining less than 0.1 percent to 3090.35.
Read more at Bloomberg Stocks News
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