Interesting
Credit Suisse deal offers truer test of cocos
Bank’s $6.2bn sale marks new stage in the development of a nascent product, writes Jennifer Hughes
Stocks resume rally as Egypt turmoil eases
The end of Hosni Mubarak’s regime in Egypt sparked a relief rally in global stocks, but not all was sanguine in global markets as traders priced in the risk that Egyptian’s success in ousting their leader could inspire movements elsewhere
Cameron targets ‘social recovery’
David Cameron said Britain needed ‘social recovery’ to accompany economic recovery as the PM spelt out his vision for the Big Society and the social investment bank
Barclays forced to adapt cocos bonus plan
Simplified version of the instrument will simply be worthless if the bank’s core capital ratio falls below a minimum level
Canada to review London-Toronto exchange deal
Reuters Tuesday 15 February 2011 04:48
OTTAWA (Reuters) - Canada will review the London Stock Exchange'sbid to take over the Canadian exchange operator TMX Group , Industry Minister Tony Clement said on Monday. Under the terms of the Investment Canada Act, Clement has to review any foreign takeover worth more than C$299 million (188.5 million pounds). The proposed combined trading venue would have a market value of about $6.9 billion.
Banking stocks help FTSE 100 hold steady
Forecast-beating annual profit from Barclays brings relief to London’s banking sector but the FTSE 100 is held back by a mining sector left uncertain by Chinese inflation data
UK pensions chairman calls for fees change
Michael O’Higgins says professional pension providers should be required to show their fees and charges as a percentage of investment returns to customers who buy their savings products
Roaches are forever as novel Valentine's gift
11 FEB 2011 19:20 GMT
NEW YORK (Reuters) - In what is described as the perfect Valentine's Day gift, New York's Bronx Zoo is offering the chance to name a Madagascar hissing cockroach after that special someone in your life.
'Frankie B' takes pivotal role in JPMorgan
Frank Bisignano, the newly appointed head of the US bank's mortgage business, is expected to work in the back office, keeping an eye on IT, personnel and property expenses
Anglo Irish reorganisation triggers US fund suit
A US hedge fund has asked a New York judge to intervene in the Irish government's attempts to reconstruct its banking system
Illinois postpones $4bn bond sale
The state of Illinois has postponed a sale of nearly $4bn of bonds to pay its annual pension contribution
Lawmakers resist bankruptcy for US states
US lawmakers have expressed opposition to the idea of allowing US states to seek bankruptcy protection to alleviate pension underfunding and other debt burdens
US non-violence centre trained Egypt activists
Some of Egypt and Tunisia's protest leaders learnt skills and planning methods from a Washington centre for non-violent resistance, according to an activist
Insight into next ‘fight for dirt’
The US has just released the first clues about how much land will be devoted to the big crops next spring, decisions that will have a significant bearing on prices
JPMorgan revives samurai bond market
The first issue of yen-denominated debt by a US bank since the collapse of Lehman Brothers could tempt its peers to follow JP Morgan’s lead
Eurozone growth slows as severe winter bites
Severe conditions hit the region’s growth late last year but its economy still managed to expand at a modest rate of 3%, outpacing the UK
Barclays beats forecasts with 32% rise
Bob Diamond, chief executive, pledges to increase the pace and intensity of efforts to improve the bank’s financial performance in a tightening regulatory environment
Protester deaths shake Bahrain
Protesters clashed with police for a second day outside a hospital in Bahrain’s capital of Manama, following the death on Monday of a young demonstrator allegedly shot by police
Special report - Can Japan's youth save their ageing nation
15 FEB 2011 09:23 GMT
By Linda Sieg TOKYO (Reuters) - A graduate of the prestigious University of Tokyo's economics department, Keishiro Kurabayashi could have joined a blue-chip firm and begun climbing the corporate ladder. Instead, he interned at DeNA, then a fledgling start-up and now a successful social networking and mobile gaming firm. "I thought it was like a rule - I would graduate from Tokyo University, enter a foreign consulting firm and after years of study might be ready to start my own firm," said the 29
Clinton picks new U.S. envoy to Afghanistan, Pakistan
15 FEB 2011 11:38 GMT
WASHINGTON (Reuters) - Secretary of State Hillary Clinton has chosen retired diplomat Marc Grossman to replace the late Richard Holbrooke as the United States' special envoy to Afghanistan and Pakistan, a senior administration official said on Monday.
Grohe to snap up China rival
German sanitary fittings maker Grohe is buying its largest Chinese rival in a move aimed at tackling product piracy by Chinese companies, the FT reports. The maker of premium bathroom and kitchen fittings announced on Monday that it would launch a tender offer for all outstanding shares of rival Joyou, leader by sales in its home market of China. David Haines, Grohe’s chief executive, told the Financial Times that the primary goal of the deal, which values Joyou at €324m ($437m), was to tap the market potential of Asia’s rapidly growing middle class.
Cove Energy on an upward curve
Cove Energy is already reaping rewards from its partnership with Anadarko Petroleum in east Africa, but another significant find could see it rocketing.
Ecuador vs. Chevron: not over yet
It’s been a long dirty fight, and it’s not over yet. A judge in the rough-and-ready Ecuadorean border town of Lago Agrio may have ruled that Chevron should pay up to $8.6bn in damages for soil and water pollution and the creation of a local health service, but the cash will not be flowing anytime soon.
Demand for reducing CDS risk grows
To deal with the many types of risk associated with credit derivatives, banks in the US and Europe have recently started using a new service to reduce their so-called ‘gap’ exposure to US financials
Korea Exchange in global expansion
Korea Exchange, Asia’s third-largest bourse, is aggressively expanding abroad in an attempt to boost its global profile and diversify its revenue sources
Commercial property to rise in Asia, LatAm - RICS
Reuters Tuesday 15 February 2011 04:48
LONDON (Reuters) - Fast-growing Asia and Latin America are expected to see commercial property rents and values rise in the first quarter of 2011, while the hard-hit U.S. market is showing signs of recovery, a survey said on Tuesday. The Royal Institute of Chartered Surveyors, which polled 410 of its members worldwide, said rental expectations in major markets such as Hong Kong, China, Singapore and Brazil are among the most bullish, while those in Peru are particularly upbeat. This was in contrast to respondents from Greece, Spain, Ireland and Japan, where most respondents continue to foresee further rental declines, RICS said.
BHP offered to swap China info with U.S. - WikiLeaks
Reuters Tuesday 15 February 2011 04:48
SYDNEY (Reuters) - Anglo-Australian miner BHP Billitononce offered to trade intelligence with Washington on China, its most important market, an Australian newspaper said on Tuesday, citing leaked U.S. cables obtained from WikiLeaks. The Sydney Morning Herald said the cables showed BHP Billiton Chief Executive Marius Kloppers had offered the exchange of information in 2009 after telling a U.S. diplomat about the extent of Chinese surveillance of his firm.
Icahn extends Dynegy bid last time, won't raise
14 FEB 2011 21:41 GMT
BANGALORE/NEW YORK (Reuters) - Billionaire investor Carl Icahn said on Monday he would extend his offer to buy Dynegy Inc one last time, but refused to raise his $665 million bid despite protests from the power company's No. 2 shareholder.
Exclusive: BM&FBovespa eyes India, China expansion
14 FEB 2011 20:14 GMT
SAO PAULO (Reuters) - Brazil's BM&FBovespa , the world's fourth-largest financial exchange operator, is closely watching for tie-up opportunities amid a global wave of consolidation in the industry, Chief Executive Edemir Pinto said on Monday.
Confident, cash-rich CEOs drive M&A to 4-year high
14 FEB 2011 23:30 GMT
NEW YORK (Reuters) - Record amounts of cash and cheap financing have emboldened chief executives to sign off on deals aimed at boosting growth in a sluggish economy, helping push global dealmaking to a four-year high.
Foster's to cast off wine; beer profit disappoints
15 FEB 2011 05:59 GMT
MELBOURNE (Reuters) - Foster's Group , Australia's largest brewer, pushed ahead on Tuesday with plans to split its beer and wine businesses, but it risked dampening bidder appetite for either unit by also reporting soft first-half profits.
Full ArticleMorrison buys baby goods website for online drive
15 FEB 2011 08:22 GMT
LONDON (Reuters) - Wm Morrison Supermarkets , the country's fourth-biggest grocer, is buying online baby products retailer Kiddicare for 70 million pounds to kick-start an online business selling non-food goods.
Bank’s $6.2bn sale marks new stage in the development of a nascent product, writes Jennifer Hughes
Stocks resume rally as Egypt turmoil eases
The end of Hosni Mubarak’s regime in Egypt sparked a relief rally in global stocks, but not all was sanguine in global markets as traders priced in the risk that Egyptian’s success in ousting their leader could inspire movements elsewhere
Cameron targets ‘social recovery’
David Cameron said Britain needed ‘social recovery’ to accompany economic recovery as the PM spelt out his vision for the Big Society and the social investment bank
Barclays forced to adapt cocos bonus plan
Simplified version of the instrument will simply be worthless if the bank’s core capital ratio falls below a minimum level
Canada to review London-Toronto exchange deal
Reuters Tuesday 15 February 2011 04:48
OTTAWA (Reuters) - Canada will review the London Stock Exchange's
Banking stocks help FTSE 100 hold steady
Forecast-beating annual profit from Barclays brings relief to London’s banking sector but the FTSE 100 is held back by a mining sector left uncertain by Chinese inflation data
UK pensions chairman calls for fees change
Michael O’Higgins says professional pension providers should be required to show their fees and charges as a percentage of investment returns to customers who buy their savings products
Roaches are forever as novel Valentine's gift
11 FEB 2011 19:20 GMT
NEW YORK (Reuters) - In what is described as the perfect Valentine's Day gift, New York's Bronx Zoo is offering the chance to name a Madagascar hissing cockroach after that special someone in your life.
'Frankie B' takes pivotal role in JPMorgan
Frank Bisignano, the newly appointed head of the US bank's mortgage business, is expected to work in the back office, keeping an eye on IT, personnel and property expenses
Anglo Irish reorganisation triggers US fund suit
A US hedge fund has asked a New York judge to intervene in the Irish government's attempts to reconstruct its banking system
Illinois postpones $4bn bond sale
The state of Illinois has postponed a sale of nearly $4bn of bonds to pay its annual pension contribution
Lawmakers resist bankruptcy for US states
US lawmakers have expressed opposition to the idea of allowing US states to seek bankruptcy protection to alleviate pension underfunding and other debt burdens
US non-violence centre trained Egypt activists
Some of Egypt and Tunisia's protest leaders learnt skills and planning methods from a Washington centre for non-violent resistance, according to an activist
Insight into next ‘fight for dirt’
The US has just released the first clues about how much land will be devoted to the big crops next spring, decisions that will have a significant bearing on prices
JPMorgan revives samurai bond market
The first issue of yen-denominated debt by a US bank since the collapse of Lehman Brothers could tempt its peers to follow JP Morgan’s lead
Eurozone growth slows as severe winter bites
Severe conditions hit the region’s growth late last year but its economy still managed to expand at a modest rate of 3%, outpacing the UK
Barclays beats forecasts with 32% rise
Bob Diamond, chief executive, pledges to increase the pace and intensity of efforts to improve the bank’s financial performance in a tightening regulatory environment
Protester deaths shake Bahrain
Protesters clashed with police for a second day outside a hospital in Bahrain’s capital of Manama, following the death on Monday of a young demonstrator allegedly shot by police
Special report - Can Japan's youth save their ageing nation
15 FEB 2011 09:23 GMT
By Linda Sieg TOKYO (Reuters) - A graduate of the prestigious University of Tokyo's economics department, Keishiro Kurabayashi could have joined a blue-chip firm and begun climbing the corporate ladder. Instead, he interned at DeNA, then a fledgling start-up and now a successful social networking and mobile gaming firm. "I thought it was like a rule - I would graduate from Tokyo University, enter a foreign consulting firm and after years of study might be ready to start my own firm," said the 29
Clinton picks new U.S. envoy to Afghanistan, Pakistan
15 FEB 2011 11:38 GMT
WASHINGTON (Reuters) - Secretary of State Hillary Clinton has chosen retired diplomat Marc Grossman to replace the late Richard Holbrooke as the United States' special envoy to Afghanistan and Pakistan, a senior administration official said on Monday.
Grohe to snap up China rival
German sanitary fittings maker Grohe is buying its largest Chinese rival in a move aimed at tackling product piracy by Chinese companies, the FT reports. The maker of premium bathroom and kitchen fittings announced on Monday that it would launch a tender offer for all outstanding shares of rival Joyou, leader by sales in its home market of China. David Haines, Grohe’s chief executive, told the Financial Times that the primary goal of the deal, which values Joyou at €324m ($437m), was to tap the market potential of Asia’s rapidly growing middle class.
Cove Energy on an upward curve
Cove Energy is already reaping rewards from its partnership with Anadarko Petroleum in east Africa, but another significant find could see it rocketing.
Ecuador vs. Chevron: not over yet
It’s been a long dirty fight, and it’s not over yet. A judge in the rough-and-ready Ecuadorean border town of Lago Agrio may have ruled that Chevron should pay up to $8.6bn in damages for soil and water pollution and the creation of a local health service, but the cash will not be flowing anytime soon.
Demand for reducing CDS risk grows
To deal with the many types of risk associated with credit derivatives, banks in the US and Europe have recently started using a new service to reduce their so-called ‘gap’ exposure to US financials
Korea Exchange in global expansion
Korea Exchange, Asia’s third-largest bourse, is aggressively expanding abroad in an attempt to boost its global profile and diversify its revenue sources
Commercial property to rise in Asia, LatAm - RICS
Reuters Tuesday 15 February 2011 04:48
LONDON (Reuters) - Fast-growing Asia and Latin America are expected to see commercial property rents and values rise in the first quarter of 2011, while the hard-hit U.S. market is showing signs of recovery, a survey said on Tuesday. The Royal Institute of Chartered Surveyors, which polled 410 of its members worldwide, said rental expectations in major markets such as Hong Kong, China, Singapore and Brazil are among the most bullish, while those in Peru are particularly upbeat. This was in contrast to respondents from Greece, Spain, Ireland and Japan, where most respondents continue to foresee further rental declines, RICS said.
BHP offered to swap China info with U.S. - WikiLeaks
Reuters Tuesday 15 February 2011 04:48
SYDNEY (Reuters) - Anglo-Australian miner BHP Billiton
Icahn extends Dynegy bid last time, won't raise
14 FEB 2011 21:41 GMT
BANGALORE/NEW YORK (Reuters) - Billionaire investor Carl Icahn said on Monday he would extend his offer to buy Dynegy Inc one last time, but refused to raise his $665 million bid despite protests from the power company's No. 2 shareholder.
Exclusive: BM&FBovespa eyes India, China expansion
14 FEB 2011 20:14 GMT
SAO PAULO (Reuters) - Brazil's BM&FBovespa , the world's fourth-largest financial exchange operator, is closely watching for tie-up opportunities amid a global wave of consolidation in the industry, Chief Executive Edemir Pinto said on Monday.
Confident, cash-rich CEOs drive M&A to 4-year high
14 FEB 2011 23:30 GMT
NEW YORK (Reuters) - Record amounts of cash and cheap financing have emboldened chief executives to sign off on deals aimed at boosting growth in a sluggish economy, helping push global dealmaking to a four-year high.
Foster's to cast off wine; beer profit disappoints
15 FEB 2011 05:59 GMT
MELBOURNE (Reuters) - Foster's Group , Australia's largest brewer, pushed ahead on Tuesday with plans to split its beer and wine businesses, but it risked dampening bidder appetite for either unit by also reporting soft first-half profits.
Full ArticleMorrison buys baby goods website for online drive
15 FEB 2011 08:22 GMT
LONDON (Reuters) - Wm Morrison Supermarkets , the country's fourth-biggest grocer, is buying online baby products retailer Kiddicare for 70 million pounds to kick-start an online business selling non-food goods.
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