(Reuters) - South Africa's major public sector unions have set May 28 as the start date of an indefinite strike action that could cripple critical services.
"We are talking about indefinite action -- not a symbolic strike for a day or two," South African Democratic Teachers Union General Secretary Thulas Nxesi told a media briefing in Johannesburg on Tuesday.
Read more at Reuters Africa
Tuesday, May 15, 2007
Australian Dollar Falls, Bonds Rise as Wages Weaken Case for Rate Increase
(Bloomberg) -- The Australian dollar fell and bonds gained after a government report showed wages rose less than expected in the first quarter, weakening the case for the Reserve Bank of Australia to lift interest rates this year.
The Australian dollar dropped against 13 of the 16 most- actively traded currencies as traders reduced bets the central bank will increase the cost of borrowing from a six-year high of 6.25 percent. The Reserve Bank had cited wages growth as a risk that may lead to higher rates in its May 4 quarterly statement.
Read more at Bloomberg Currencies News
The Australian dollar dropped against 13 of the 16 most- actively traded currencies as traders reduced bets the central bank will increase the cost of borrowing from a six-year high of 6.25 percent. The Reserve Bank had cited wages growth as a risk that may lead to higher rates in its May 4 quarterly statement.
Read more at Bloomberg Currencies News
U.K. Pound May Fall on Expectations Recent Gains Reflect Rate Outlook
(Bloomberg) -- The pound may fall on speculation its value already reflects the prospect that the Bank of England will raise interest rates further this year to ward off inflation.
The pound fell to a two month low against the dollar and to a four-week low against the dollar yesterday after a report showed inflation slowed last month from the highest in a decade. Traders held onto bets the central bank will raise rates twice more this year, futures prices show. The bank will release its quarterly inflation report today.
Read more at Bloomberg Currencies News
The pound fell to a two month low against the dollar and to a four-week low against the dollar yesterday after a report showed inflation slowed last month from the highest in a decade. Traders held onto bets the central bank will raise rates twice more this year, futures prices show. The bank will release its quarterly inflation report today.
Read more at Bloomberg Currencies News
Japan's Topix Drops on Kajima Earnings; TDK and Canon Lead Nikkei Higher
(Bloomberg) -- Japan's Topix index dropped, led by construction companies including Kajima Corp. after the company forecast profit will decline this year.
Kajima, Japan's largest general contractor, plunged 11 percent, the biggest fall in nine years. Obayashi Corp. dropped for a fourth day, extending its slide to 10 percent. Toshihiko Okino, an analyst at UBS AG in Tokyo, said profit forecasts for this year among three of the four largest construction companies missed consensus forecasts.
Read more at Bloomberg Stocks News
Kajima, Japan's largest general contractor, plunged 11 percent, the biggest fall in nine years. Obayashi Corp. dropped for a fourth day, extending its slide to 10 percent. Toshihiko Okino, an analyst at UBS AG in Tokyo, said profit forecasts for this year among three of the four largest construction companies missed consensus forecasts.
Read more at Bloomberg Stocks News
Brazil, Colombia, Mexico, Venezuela: Latin American Local Bond Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds today. Bond yields are from the previous session.
Brazil: The central bank will ``intervene'' in the currency market when there are ``price distortions,'' Henrique Meirelles, the bank's president, told reporters in Rio de Janeiro yesterday.
Read more at Bloomberg Bonds News
Brazil: The central bank will ``intervene'' in the currency market when there are ``price distortions,'' Henrique Meirelles, the bank's president, told reporters in Rio de Janeiro yesterday.
Read more at Bloomberg Bonds News
EU to Propose End of German, Greek Budget Deficit Scrutiny, Drafts Say
(Bloomberg) -- Germany and Greece will escape the threat of European Union disciplinary action after faster economic growth helped them cut their budget deficits to below the EU limit, according to the draft text of the rulings.
The European Commission, the EU's Brussels-based executive agency, will call the deficit-cutting efforts of Germany and Greece ``credible and sustainable'' and recommend that the EU end the punitive deficit-surveillance programs, the draft rulings, which were obtained by Bloomberg News, say.
Read more at Bloomberg Bonds News
The European Commission, the EU's Brussels-based executive agency, will call the deficit-cutting efforts of Germany and Greece ``credible and sustainable'' and recommend that the EU end the punitive deficit-surveillance programs, the draft rulings, which were obtained by Bloomberg News, say.
Read more at Bloomberg Bonds News
Air Berlin, Commerzbank, Conergy, Fresenius, TUI: German Equity Preview
(Bloomberg) -- The following stocks may rise or fall in German markets.
Germany's X-DAX Index fell 49.83, or 0.6 percent, to 44.64.47. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX advanced 0.6 percent to 7505.35 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Germany's X-DAX Index fell 49.83, or 0.6 percent, to 44.64.47. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX advanced 0.6 percent to 7505.35 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
UPDATE 1-Linn Energy posts quarterly loss; shares fall
(Reuters) - Shares of the Houston, Texas oil and gas company fell more than 5 percent to $36.95 in afternoon trade on the Nasdaq.
The company reported first-quarter loss of $67.8 million, or $1.35 per unit, compared with a net profit of $22.0 million, or 84 cents per unit, a year ago.
Read more at Reuters.com Market News
The company reported first-quarter loss of $67.8 million, or $1.35 per unit, compared with a net profit of $22.0 million, or 84 cents per unit, a year ago.
Read more at Reuters.com Market News
Icahn takes big stake in Anadarko-SEC filing
(Reuters) - The stake was worth about $133.4 million as of March 31, the filing said.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Canada private-equity buyouts look set for record
(Reuters) - Buyout firms, which take control of businesses, restructure them and try to sell them for a profit, invested $5.1 billion in Canadian businesses in 36 disclosed deals in the first quarter of this year, Canada's Venture Capital & Private Equity Association said.
That is more than the total $4.5 billion invested in 2005, and almost half of last year's $11.3 billion spent in 92 deals.
Read more at Reuters.com Mergers News
That is more than the total $4.5 billion invested in 2005, and almost half of last year's $11.3 billion spent in 92 deals.
Read more at Reuters.com Mergers News
US STOCKS-Indexes rally on data showing stable inflation
(Reuters) - NEW YORK, May 15 - U.S. stocks advanced on Tuesday, pushing the Dow to a record high, as data pointing to stabilizing inflation lifted hopes about an interest rate cut.
Indexes pared some gains and the Nasdaq briefly traded lower after the National Association of Home Builders said U.S. home builder confidence matched a 15-year low in May. For details, see [ID:nN15421900]
Read more at Reuters.com Bonds News
Indexes pared some gains and the Nasdaq briefly traded lower after the National Association of Home Builders said U.S. home builder confidence matched a 15-year low in May. For details, see [ID:nN15421900]
Read more at Reuters.com Bonds News
JA Solar, Kinetic Concepts, US BioEnergy, Winn-Dixie: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges. Share prices are as of 1:15 p.m. New York time.
Agilent Technologies Inc. (A US) rose $2.14, or 6 percent, to $38.08 and traded as high as $38.47. The world's biggest maker of scientific-testing equipment said third-quarter profit excluding some costs will be 46 cents to 50 cents a share on sales of $1.36 billion to $1.4 billion. Analysts on average estimated profit of 45 cents and sales of $1.35 billion, according to a Bloomberg survey.
Read more at Bloomberg Stocks News
Agilent Technologies Inc. (A US) rose $2.14, or 6 percent, to $38.08 and traded as high as $38.47. The world's biggest maker of scientific-testing equipment said third-quarter profit excluding some costs will be 46 cents to 50 cents a share on sales of $1.36 billion to $1.4 billion. Analysts on average estimated profit of 45 cents and sales of $1.35 billion, according to a Bloomberg survey.
Read more at Bloomberg Stocks News
U.S. Justice Dept may review Thomson-Reuters deal
(Reuters) - Multinationals such as Thomson and Reuters need permission from regulators in Brussels, Washington and elsewhere to complete mergers.
The companies themselves have to determine where competition law requires them to file for permission, but corporations with worldwide markets end up in many jurisdictions.
Read more at Reuters.com Mergers News
The companies themselves have to determine where competition law requires them to file for permission, but corporations with worldwide markets end up in many jurisdictions.
Read more at Reuters.com Mergers News
Wheat Falls Most in Week as Report Shows Improved Condition of U.S. Crops
(Bloomberg) -- Wheat fell for the first time in three sessions in Chicago after a government report showed continued improvement in the U.S. winter crop following freeze damage in early April.
About 58 percent of winter wheat was in good or excellent condition as of May 13, the third straight weekly increase, the U.S. Department of Agriculture said yesterday. Ample rains and moderate temperatures in the southern Great Plains for most of last month have helped plants recover, analysts said.
Read more at Bloomberg Commodities News
About 58 percent of winter wheat was in good or excellent condition as of May 13, the third straight weekly increase, the U.S. Department of Agriculture said yesterday. Ample rains and moderate temperatures in the southern Great Plains for most of last month have helped plants recover, analysts said.
Read more at Bloomberg Commodities News
Wal-Mart profit up but CEO not satisfied
(Reuters) - Earnings rose to $2.83 billion, or 68 cents per share, in the first quarter that ended April 30, from $2.62 billion, or 63 cents per share, a year earlier.
Analysts on average had been expecting profit of 68 cents per share, according to Reuters Estimates.
Read more at Reuters.com Economic News
Analysts on average had been expecting profit of 68 cents per share, according to Reuters Estimates.
Read more at Reuters.com Economic News
Tyco to settle Kozlowski-era class action cases
(Reuters) - Tyco, which plans to split into three companies in coming weeks, said it would pay $2.975 billion in the near term into a fund for plaintiffs in 32 class-action lawsuits.
The deal, one of the largest class action settlements ever by a single company, still requires court approval.
Read more at Reuters.com Government Filings News
The deal, one of the largest class action settlements ever by a single company, still requires court approval.
Read more at Reuters.com Government Filings News
TREASURIES-Bonds flat as higher stocks offset weaker inflation
(Reuters) - NEW YORK, May 15 - U.S. Treasury debt prices were little changed on Tuesday after a benign inflation report drew investors to stocks.
The weaker-than-expected inflation reading suggested to investors the Federal Reserve may have a little more room to consider interest rate cuts.
Read more at Reuters.com Bonds News
The weaker-than-expected inflation reading suggested to investors the Federal Reserve may have a little more room to consider interest rate cuts.
Read more at Reuters.com Bonds News
RPT-Slovakia to decide on military airlifters in 2007
(Reuters) - The member country of the European Union and NATO has been looking for new carriers since a 36-year old Soviet-built An-24 plane crashed into a snowy mountain last year and killed 42 people in Slovakia's worst plane crash ever. The ministry negotiated with four groups of potential bidders earlier this year, but Kasicky declined to give details of the talks or reveal the names of the possible suppliers.
"It is not an easy process in terms of financing such an acquisition. The question of offset programs has also not been finalised," Kasicky told reporters after meeting Admiral Mark Stanhope, NATO deputy supreme commander for transformation.
Read more at Reuters.com Bonds News
"It is not an easy process in terms of financing such an acquisition. The question of offset programs has also not been finalised," Kasicky told reporters after meeting Admiral Mark Stanhope, NATO deputy supreme commander for transformation.
Read more at Reuters.com Bonds News
South Africa inflation seen in target, risks remain
(Reuters) - South Africa's targeted inflation should remain within its range, but the target could be threatened by adverse developments and a poor response to past monetary tightening, the central bank said on Tuesday.
In its latest monetary policy review, the Reserve Bank said it remained focused on keeping key CPIX inflation within a 3-6 percent band, and would act appropriately to ensure that this mandate was achieved.
Read more at Reuters Africa
In its latest monetary policy review, the Reserve Bank said it remained focused on keeping key CPIX inflation within a 3-6 percent band, and would act appropriately to ensure that this mandate was achieved.
Read more at Reuters Africa
Global M&A Increases 60 Percent to $2 Trillion, Led by Europe Deals,LBOs
(Bloomberg) -- Mergers and acquisitions, fueled by corporate deals in Europe and U.S. buyouts, reached the $2 trillion mark today, 60 percent ahead of last year's record pace.
HeidelbergCement AG's 7.85 billion pound ($15.5 billion) takeover of Hanson Plc and Thomson Corp.'s 8.7 billion pound purchase of Reuters Group Plc lifted Europe's total to $1.2 trillion, according to data compiled by Bloomberg. Cerberus Capital Management LP's $7.4 billion acquisition of the U.S. Chrysler auto unit from DaimlerChrysler AG, boosted leveraged buyouts to $366 billion, the data show.
Read more at Bloomberg Exclusive News
HeidelbergCement AG's 7.85 billion pound ($15.5 billion) takeover of Hanson Plc and Thomson Corp.'s 8.7 billion pound purchase of Reuters Group Plc lifted Europe's total to $1.2 trillion, according to data compiled by Bloomberg. Cerberus Capital Management LP's $7.4 billion acquisition of the U.S. Chrysler auto unit from DaimlerChrysler AG, boosted leveraged buyouts to $366 billion, the data show.
Read more at Bloomberg Exclusive News
S.Africa miners welcome rights claim extension
(Reuters) - South Africa's Chamber of Mines has welcomed a recent government decision to extend by four years the deadline for mining firms to claim compensation for lost rights under black economic empowerment laws.
The original deadline for compensation claims relating to mineral rights expropriated by the government was April this year, Chamber of Mines chief executive Zoli Diliza said on Tuesday, but the Department of Minerals and Energy has given firms under 2011 to lodge claims.
Read more at Reuters Africa
The original deadline for compensation claims relating to mineral rights expropriated by the government was April this year, Chamber of Mines chief executive Zoli Diliza said on Tuesday, but the Department of Minerals and Energy has given firms under 2011 to lodge claims.
Read more at Reuters Africa
Biosite shares fall after Beckman won't raise bid
(Reuters) - Biosite's board told Beckman that it considered a $92.50-per-share bid by Inverness, which makes home pregnancy tests and fertility monitoring kits, superior to Beckman Coulter's $90-per-share offer, Beckman said.
Biosite shares, which had risen on hopes of a higher bid, fell 3 percent in premarket trading to $91.60 from Monday's Nasdaq close of $94.66.
Read more at Reuters.com Hot Stocks News
Biosite shares, which had risen on hopes of a higher bid, fell 3 percent in premarket trading to $91.60 from Monday's Nasdaq close of $94.66.
Read more at Reuters.com Hot Stocks News
Amgen, GM, Home Depot, JA Solar, STEC, Winn-Dixie: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges. Share prices are as of 9:30 a.m. New York time.
Advanced Micro Devices Inc. (AMD US) rose 30 cents, or 2 percent, to $15.66 and traded as high as $15.75. ThinkEquity Partners analyst Eric Ross upgraded shares of the world's second- largest maker of computer microprocessors to ``buy'' from ``sell.''
Read more at Bloomberg Stocks News
Advanced Micro Devices Inc. (AMD US) rose 30 cents, or 2 percent, to $15.66 and traded as high as $15.75. ThinkEquity Partners analyst Eric Ross upgraded shares of the world's second- largest maker of computer microprocessors to ``buy'' from ``sell.''
Read more at Bloomberg Stocks News
Credit derivatives still untested -Fed's Minehan
(Reuters) - "Do users understand the inherent risks ... will credit derivatives play a role in the next shock? I don't know the answer, but that is what this conference is all about," she said.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
April CPI paints stable inflation picture
(Reuters) - Wall Street economists polled before the Labor Department report were expecting the Consumer Price Index to advance 0.5 percent. The core rate, which excludes volatile food and energy prices, advanced 0.2 percent in April. That was directly in line with expectations.
The dollar slipped against the euro in reaction to the April core CPI advance and U.S. Treasury prices were up after a lower-than-expected rise in the core CPI from the same time a year ago.
Read more at Reuters.com Business News
The dollar slipped against the euro in reaction to the April core CPI advance and U.S. Treasury prices were up after a lower-than-expected rise in the core CPI from the same time a year ago.
Read more at Reuters.com Business News
WRAPUP 1-US Apr consumer prices rise on higher food, energy
(Reuters) - Wall Street economists polled before the Labor Department report were expecting the Consumer Price Index to advance 0.5 percent. The core rate, which excludes volatile food and energy prices, advanced 0.2 percent in April. That was directly in line with expectations.
The dollar slipped against the euro in reaction to the April core CPI advance and U.S. Treasury prices were up after a lower-than-expected rise in the core CPI from the same time a year ago.
Read more at Reuters.com Economic News
The dollar slipped against the euro in reaction to the April core CPI advance and U.S. Treasury prices were up after a lower-than-expected rise in the core CPI from the same time a year ago.
Read more at Reuters.com Economic News
TREASURIES-Bonds rise on weaker-than-expected core inflation
(Reuters) - The core Consumer Price Index , which does not include volatile food and energy prices, rose 2.3 percent on a year-over-year basis, which was below analysts' expectations of a rise of 2.4 percent.
The Fed's presumed comfort level for inflation is 1 percent to 2 percent.
Read more at Reuters.com Bonds News
The Fed's presumed comfort level for inflation is 1 percent to 2 percent.
Read more at Reuters.com Bonds News
Dollar Is Little Changed After U.S. Core Inflation Rate Matches Forecasts
(Bloomberg) -- The dollar was little changed against the euro and yen after a government report showed U.S. consumer prices excluding food and energy matched economists' forecasts.
Traders had cut bets the Federal Reserve will reduce borrowing costs this year after reiterating during the May 9 meeting its primary concern was the risk of faster inflation. Fed Bank of Dallas President Richard Fisher said yesterday he expects growth to pick up in coming quarters.
Read more at Bloomberg Currencies News
Traders had cut bets the Federal Reserve will reduce borrowing costs this year after reiterating during the May 9 meeting its primary concern was the risk of faster inflation. Fed Bank of Dallas President Richard Fisher said yesterday he expects growth to pick up in coming quarters.
Read more at Bloomberg Currencies News
UPDATE 1-Fossil posts partial results, before restatement
(Reuters) - Fossil said it had net sales of $304.8 million in the first quarter ended on April 7, but did not provide a net profit or earnings-per-share breakdown because of its broad restatement.
Earlier this month, the company said a review of its stock option accounting practices found that incorrect dates were used on some grants.
Read more at Reuters.com Market News
Earlier this month, the company said a review of its stock option accounting practices found that incorrect dates were used on some grants.
Read more at Reuters.com Market News
UPDATE 1-ITW reiterates 2nd qtr, full-year profit outlooks
(Reuters) - The manufacturer of fasteners, food-service and welding equipment, countertop materials and other products also said revenue rose 15 percent for the three months ending in April, with strong growth in its international businesses offsetting weakness in some North American sectors.
ITW, based in Glenview, Illinois, said the sales growth consisted of a 10 percent increase from acquisitions, 2 percent from growth in ongoing businesses and 3 percent due to the weak U.S. dollar.
Read more at Reuters.com Market News
ITW, based in Glenview, Illinois, said the sales growth consisted of a 10 percent increase from acquisitions, 2 percent from growth in ongoing businesses and 3 percent due to the weak U.S. dollar.
Read more at Reuters.com Market News
Bernanke Says Stopping Insider Trading Credit Derivatives is a Priority
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said regulators must use insider-trading laws to prevent abuse in the soaring market for credit-default swaps and other derivatives.
``U.S. securities laws against insider trading and market manipulation apply broadly to all financial institutions, including hedge funds, and to trading in a wide range of financial instruments, including securities-based over-the- counter derivatives transactions,'' Bernanke said today in a speech via satellite to a conference at Sea Island, Georgia.
Read more at Bloomberg Bonds News
``U.S. securities laws against insider trading and market manipulation apply broadly to all financial institutions, including hedge funds, and to trading in a wide range of financial instruments, including securities-based over-the- counter derivatives transactions,'' Bernanke said today in a speech via satellite to a conference at Sea Island, Georgia.
Read more at Bloomberg Bonds News
UPDATE 1-Calpine reaches settlement with Canadian units
(Reuters) - The proposed settlement will resolve more than $250 million of intercompany claims in the Canadian insolvency proceedings, and about $1.1 billion of claims in Calpine's bankruptcy case in the United States, Calpine said.
"This settlement is another major step forward in our restructuring efforts," said Chief Executive Robert May in a statement.
Read more at Reuters.com Bonds News
"This settlement is another major step forward in our restructuring efforts," said Chief Executive Robert May in a statement.
Read more at Reuters.com Bonds News
UPDATE 1-DaimlerChrysler Q1 EBIT rises despite Chrysler
(Reuters) - The German auto company forecast on Tuesday that 2007 EBIT would rise to 7 billion euros excluding the impact from selling Chrysler, giving its first detailed outlook for this year.
Analysts polled by Reuters had on average expected EBIT of 1.545 billion euros in the three months to end-March.
Read more at Reuters.com Market News
Analysts polled by Reuters had on average expected EBIT of 1.545 billion euros in the three months to end-March.
Read more at Reuters.com Market News
FACTBOX - How the Reuters "golden share" will work
(Reuters) - Reuters share structure includes two mechanisms designed to safeguard the company's independence. On Tuesday, the two groups set out how these would change if the deal is completed.
- The Reuters Trust Principles and the Reuters Founders Share Company structure will apply to both Thomson-Reuters Corporation and Thomson-Reuters Plc.
Read more at Reuters.com Mergers News
- The Reuters Trust Principles and the Reuters Founders Share Company structure will apply to both Thomson-Reuters Corporation and Thomson-Reuters Plc.
Read more at Reuters.com Mergers News
India Appoints Andimuthu Raja Minister for Computers, Telecommunications
(Bloomberg) -- Andimuthu Raja was appointed India's new minister for computers and telecommunications, replacing Dayanidhi Maran, who resigned after his party sought his removal.
The appointment was announced on the Indian president's Web site today. Raja, 44, is also a member of Maran's Dravida Munnetra Kazhagam party, and was the minister for environment and forests. A lawyer by education, Raja was elected to the lower house of parliament from Perambalur constituency in the southern province of Tamil Nadu. Calls to Raja's office and mobile phone went unanswered.
Read more at Bloomberg Emerging Markets News
The appointment was announced on the Indian president's Web site today. Raja, 44, is also a member of Maran's Dravida Munnetra Kazhagam party, and was the minister for environment and forests. A lawyer by education, Raja was elected to the lower house of parliament from Perambalur constituency in the southern province of Tamil Nadu. Calls to Raja's office and mobile phone went unanswered.
Read more at Bloomberg Emerging Markets News
Japan's Shares Drop After Machinery Orders Unexpectedly Fall, Led by Sony
(Bloomberg) -- Japanese stocks dropped after machinery orders unexpectedly fell 4.5 percent in March, indicating companies are not optimistic about growth prospects.
Shares of companies most sensitive to changes in the economy that have outperformed the Topix index, led declines. Sony Corp., the world's second-largest consumer electronics maker, which had climbed 28 percent so far this year, slumped the most in two months.
Read more at Bloomberg Stocks News
Shares of companies most sensitive to changes in the economy that have outperformed the Topix index, led declines. Sony Corp., the world's second-largest consumer electronics maker, which had climbed 28 percent so far this year, slumped the most in two months.
Read more at Bloomberg Stocks News
CHRONOLOGY: Reuters, from pigeons to multimedia merger
(Reuters) - 1851 - German-born Paul Julius Reuter opened an office in the City of London which transmitted stock market quotations between London and Paris via the new Calais-Dover cable.
Reuter had previously used pigeons to fly stock prices between Aachen and Brussels, a service that operated for a year until a gap in the telegraph link was closed.
Read more at Reuters.com Business News
Reuter had previously used pigeons to fly stock prices between Aachen and Brussels, a service that operated for a year until a gap in the telegraph link was closed.
Read more at Reuters.com Business News
UK's FTSE little changed after inflation data
(Reuters) - Britain's index of 100 top shares was little changed on Tuesday after data showed that consumer price inflation had slowed in April, while merger activity featured Reuters and property firm Hanson.
Britain's FTSE 100 index stood at 6,555.4 after dipping earlier in the day.
Read more at Reuters Africa
Britain's FTSE 100 index stood at 6,555.4 after dipping earlier in the day.
Read more at Reuters Africa
Emission Carbon Permits Steady; Analysts Predict 3.8 Percent Cut for Italy
(Bloomberg) -- European Union carbon-dioxide permits were little changed near their highest in almost 11 months before the European Commission decides on Italy's grant of allowances for the five years starting 2008.
Italy may be allowed to grant 201 million metric tons of allowances a year in the five-year period, according to the median of five analysts surveyed by Bloomberg News.
Read more at Bloomberg Energy News
Italy may be allowed to grant 201 million metric tons of allowances a year in the five-year period, according to the median of five analysts surveyed by Bloomberg News.
Read more at Bloomberg Energy News
UPDATE 1-Russian minister still sees TNK-BP losing Kovykta
(Reuters) - The firm gained a reprieve against the threatened withdrawal of its licence for the East Siberian field by persuading a court in the Irkutsk region to clarify its licence obligations at a hearing set for May 23.
Asked whether he still expected the licence to be withdrawn, Trutnev said "I think so, yes. They are not fulfilling their licence agreement. Irkutsk arbitration court is not the highest court.
Read more at Reuters.com Mergers News
Asked whether he still expected the licence to be withdrawn, Trutnev said "I think so, yes. They are not fulfilling their licence agreement. Irkutsk arbitration court is not the highest court.
Read more at Reuters.com Mergers News
U.K. Pound Declines After Report Shows Inflation Slows From Decade High
(Bloomberg) -- The U.K. pound fell after a report showed inflation slowed last month, easing pressure on the Bank of England to keep raising interest rates.
The pound was near its weakest in a month after a report showed consumer prices rose 2.8 percent from a year earlier after a 3.1 percent rate in March, the highest in a decade. The pound gained earlier as the Royal Institution of Chartered Surveyors said the cost of homes rose, strengthening the case for Bank of England rate increases.
Read more at Bloomberg Currencies News
The pound was near its weakest in a month after a report showed consumer prices rose 2.8 percent from a year earlier after a 3.1 percent rate in March, the highest in a decade. The pound gained earlier as the Royal Institution of Chartered Surveyors said the cost of homes rose, strengthening the case for Bank of England rate increases.
Read more at Bloomberg Currencies News
Beckman says won't sweeten Biosite bid
(Reuters) - The board of Biosite told Beckman that it considered a $92.50 per share bid by Inverness, which makes home pregnancy tests and fertility monitoring kits, as superior, Beckman said.
Beckman, which makes genetic analysis testing systems, said it believed that the long-term interests of its shareholders would not be served by increasing its bid.
Read more at Reuters.com Business News
Beckman, which makes genetic analysis testing systems, said it believed that the long-term interests of its shareholders would not be served by increasing its bid.
Read more at Reuters.com Business News
Diageo plans 5-year euro benchmark FRN -lead
(Reuters) - Diageo Plc is rated A by Fitch Ratings, A- by Standard and Poor's and A3 by Moody's Investors Service.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Cerberus Adds Cars to GMAC Loans, Rental Fleets With Chrysler Acquisition
(Bloomberg) -- Cerberus Capital Management LP, the private equity firm buying the Chrysler unit of DaimlerChrysler AG, is assembling one of world's biggest automotive companies.
The acquisition of an 80.1 percent stake in Chrysler for $7.4 billion will give the New York-based leveraged buyout firm control of the world's fourth-largest automaker. Cerberus will add the carmaker to holdings that include GMAC LLC, the former financing unit of General Motors Corp., and the parent of the Alamo Rent-a-Car and National Car Rental chains.
Read more at Bloomberg Bonds News
The acquisition of an 80.1 percent stake in Chrysler for $7.4 billion will give the New York-based leveraged buyout firm control of the world's fourth-largest automaker. Cerberus will add the carmaker to holdings that include GMAC LLC, the former financing unit of General Motors Corp., and the parent of the Alamo Rent-a-Car and National Car Rental chains.
Read more at Bloomberg Bonds News
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