Interesting
SocGen unit pulls out of Ivory Coast
Ivory Coast’s biggest bank, a unit of Société Générale, said it was suspending its activities in the West African nation on Thursday “until further notice”, the fifth international bank to pull out this week, Reuters reports. The financial system in the world’s top cocoa grower is in a state of meltdown after Laurent Gbagbo, its disputed incumbent leader, cut the country’s ties with West Africa’s central bank because it would not recognise his signature on state accounts.
Essar Oil to buy Shell UK unit for $350-400mn
Indian refiner Essar Oil is set to buy Royal Dutch Shell's Stanlow refinery in the United Kingdom for about $350 million to $400 million, two sources with direct knowledge of the development told Reuters. The two companies have agreed on the terms and an announcement is expected soon, said the sources, who declined to be named as they were not authorised to speak to the media before an official announcement.
Comcast to raise dividend after strong earnings
Comcast, the largest US cable provider, said it would raise its dividend by 19 per cent to $0.45 a share and increase its share buyback programme by 75 per cent to $2.1bn.
John Deere revises up crop price forecasts
Crop prices will continue to increase through next year, driving farm incomes to record levels, the biggest tractor-maker by sales and revenues forecast as it raised its full-year profits outlook
Pepsi back on Sainsbury's shelves
The return of the beverage follows a standoff over pricing, setting the tone for what promises to be a tough round of negotiations between suppliers and retailers
China gets first official hedge fund
14 FEB 2011 11:23 GMT
SHANGHAI (Reuters) - China's hedge fund industry took a small but significant step on Monday as Guotai Junan Securities Co readies a $45 million (28 million pound) hedge fund, the first such product approved by securities regulators.
Sharper teeth for financial watchdogs
The UK regulators will be given powers to ban retail products and warn investors about pending enforcement actions when the Financial Services Authority is broken into three bodies
Moody's cuts Danish banks' ratings
Danske Bank and four other Danish lenders have had their credit ratings cut by the credit ratings agency following a recent bank collapse
Abu Dhabi fund buys Spain's Cepsa
Abu Dhabi sovereign wealth fund will take full ownership of Spanish oil refining and distribution group Cepsa, after purchasing a stake from Total of France
Russian tycoon buys 1.2% stake in VTB
It has emerged that Suleiman Kerimov, the politically well-connected investor, has bought $500m in the state-controlled bank's shares during its secondary public offering
Rise in operating margins at Atos
The European IT services group has announced its first dividend in two years in spite of recording a 3.5% per cent decline in sales after its largest client in Germany went bankrupt
Nokia rivals set to pounce on market share
Competitors of the Finnish group believe they can capitalise on Nokia’s vulnerability as it embarks on the lengthy task of adopting Microsoft’s smartphone operating system
Motorola plans European comeback
CEO says next challenge is to persuade European mobile operators and retailers to trust his brand again
NOL steers back into full-year profits
Singapore container company becomes one of the first leading groups to produce evidence of the sector’s rapid turnround
Berlin offered stake in EADS by Daimler
Carmaker offers to sell half EADS stake to German government in potential wide-ranging reshuffle of country’s interest in Franco-German group
GE Hitachi and Lockheed in nuclear security tie
GE Hitachi, the US-Japanese nuclear joint venture, has formed an alliance with Lockheed Martin to develop high security control systems designed to protect a new generation of reactors against cyberterrorism
Pelino backs out as Gerova's chairman
The American entrepreneur's withdrawal of his name days after the announcement of his appointment has exacerbated the steep decline in the financial services company's market value
Costain says Mouchel is more ready to engage
The chairman of Costain has signalled that its take-over target Mouchel has become more willing to engage after pressure from the outsourcing group’s biggest shareholder
First Asean-focused ETF launched
New York fund manager launches first exchange-traded fund focused on Asean region, reflecting what some see as the emergence of a new asset class
Shanghai forges bourse link with Brazil
Shanghai Stock Exchange and BM&F Bovespa, Latin America’s biggest exchange operator, are set to sign an agreement expected to lead to the cross-listings of stocks
Fed forecast fuels Asian optimism
Asian shares extended gains as Japanese technology companies benefitted from the yen’s recent weakness while Qantas caught a tailwind in Sydney after reporting first-half earnings
EU regional funds to UK were halted
Doubts over the way Britain administers European structural funds prompted Brussels to suspend all payments to English projects at the end of 2010, European Commission documents show
Google woos publishers with One Pass payment service
16 FEB 2011 20:45 GMT
SAN FRANCISCO/NEW YORK (Reuters) - Google Inc launched a service to make it easy for publishers to sell digital versions of newspapers and magazines, undercutting a similar plan launched by Apple Inc, as both tech titans battle to dominate smartphones and tablet computers.
Tesco seen outpacing growth at global rivals
17 FEB 2011 05:20 GMT
LONDON (Reuters) - Tesco, the world's third-biggest retailer, is set to outpace sales growth at major global rivals, driven by its expansion in Asia, according to international food and grocery analyst IGD.
Family Dollar bid sparks rally in discount stores
16 FEB 2011 17:29 GMT
NEW YORK (Reuters) - Billionaire investor Nelson Peltz's bid for Family Dollar Stores Inc underscores growing investor appetite for retailers targeting low-income Americans in a slow economic rebound and has sparked a rally in shares of rivals.
Ex-JPMorgan executive Winters to launch fund: report
17 FEB 2011 00:51 GMT
NEW YORK (Reuters) - Bill Winters, a former top JPMorgan Chase & Co official who left in 2009 after a falling out with Chief Executive Jamie Dimon, plans to launch an asset management and hedge fund company in the City of London, the Financial Times reported on
Zain delays move on Batelco, Kingdom bids: source
17 FEB 2011 07:26 GMT
KUWAIT (Reuters) - Kuwaiti telco Zain on Wednesday delayed until Saturday a decision on bids from Kingdom Holding and Batelco for its Saudi assets after the offers were improved, a source close to Zain
Ivory Coast’s biggest bank, a unit of Société Générale, said it was suspending its activities in the West African nation on Thursday “until further notice”, the fifth international bank to pull out this week, Reuters reports. The financial system in the world’s top cocoa grower is in a state of meltdown after Laurent Gbagbo, its disputed incumbent leader, cut the country’s ties with West Africa’s central bank because it would not recognise his signature on state accounts.
Essar Oil to buy Shell UK unit for $350-400mn
Indian refiner Essar Oil is set to buy Royal Dutch Shell's Stanlow refinery in the United Kingdom for about $350 million to $400 million, two sources with direct knowledge of the development told Reuters. The two companies have agreed on the terms and an announcement is expected soon, said the sources, who declined to be named as they were not authorised to speak to the media before an official announcement.
Comcast to raise dividend after strong earnings
Comcast, the largest US cable provider, said it would raise its dividend by 19 per cent to $0.45 a share and increase its share buyback programme by 75 per cent to $2.1bn.
John Deere revises up crop price forecasts
Crop prices will continue to increase through next year, driving farm incomes to record levels, the biggest tractor-maker by sales and revenues forecast as it raised its full-year profits outlook
Pepsi back on Sainsbury's shelves
The return of the beverage follows a standoff over pricing, setting the tone for what promises to be a tough round of negotiations between suppliers and retailers
China gets first official hedge fund
14 FEB 2011 11:23 GMT
SHANGHAI (Reuters) - China's hedge fund industry took a small but significant step on Monday as Guotai Junan Securities Co readies a $45 million (28 million pound) hedge fund, the first such product approved by securities regulators.
Sharper teeth for financial watchdogs
The UK regulators will be given powers to ban retail products and warn investors about pending enforcement actions when the Financial Services Authority is broken into three bodies
Moody's cuts Danish banks' ratings
Danske Bank and four other Danish lenders have had their credit ratings cut by the credit ratings agency following a recent bank collapse
Abu Dhabi fund buys Spain's Cepsa
Abu Dhabi sovereign wealth fund will take full ownership of Spanish oil refining and distribution group Cepsa, after purchasing a stake from Total of France
Russian tycoon buys 1.2% stake in VTB
It has emerged that Suleiman Kerimov, the politically well-connected investor, has bought $500m in the state-controlled bank's shares during its secondary public offering
Rise in operating margins at Atos
The European IT services group has announced its first dividend in two years in spite of recording a 3.5% per cent decline in sales after its largest client in Germany went bankrupt
Nokia rivals set to pounce on market share
Competitors of the Finnish group believe they can capitalise on Nokia’s vulnerability as it embarks on the lengthy task of adopting Microsoft’s smartphone operating system
Motorola plans European comeback
CEO says next challenge is to persuade European mobile operators and retailers to trust his brand again
NOL steers back into full-year profits
Singapore container company becomes one of the first leading groups to produce evidence of the sector’s rapid turnround
Berlin offered stake in EADS by Daimler
Carmaker offers to sell half EADS stake to German government in potential wide-ranging reshuffle of country’s interest in Franco-German group
GE Hitachi and Lockheed in nuclear security tie
GE Hitachi, the US-Japanese nuclear joint venture, has formed an alliance with Lockheed Martin to develop high security control systems designed to protect a new generation of reactors against cyberterrorism
Pelino backs out as Gerova's chairman
The American entrepreneur's withdrawal of his name days after the announcement of his appointment has exacerbated the steep decline in the financial services company's market value
Costain says Mouchel is more ready to engage
The chairman of Costain has signalled that its take-over target Mouchel has become more willing to engage after pressure from the outsourcing group’s biggest shareholder
First Asean-focused ETF launched
New York fund manager launches first exchange-traded fund focused on Asean region, reflecting what some see as the emergence of a new asset class
Shanghai forges bourse link with Brazil
Shanghai Stock Exchange and BM&F Bovespa, Latin America’s biggest exchange operator, are set to sign an agreement expected to lead to the cross-listings of stocks
Fed forecast fuels Asian optimism
Asian shares extended gains as Japanese technology companies benefitted from the yen’s recent weakness while Qantas caught a tailwind in Sydney after reporting first-half earnings
EU regional funds to UK were halted
Doubts over the way Britain administers European structural funds prompted Brussels to suspend all payments to English projects at the end of 2010, European Commission documents show
Google woos publishers with One Pass payment service
16 FEB 2011 20:45 GMT
SAN FRANCISCO/NEW YORK (Reuters) - Google Inc launched a service to make it easy for publishers to sell digital versions of newspapers and magazines, undercutting a similar plan launched by Apple Inc, as both tech titans battle to dominate smartphones and tablet computers.
Tesco seen outpacing growth at global rivals
17 FEB 2011 05:20 GMT
LONDON (Reuters) - Tesco, the world's third-biggest retailer, is set to outpace sales growth at major global rivals, driven by its expansion in Asia, according to international food and grocery analyst IGD.
Family Dollar bid sparks rally in discount stores
16 FEB 2011 17:29 GMT
NEW YORK (Reuters) - Billionaire investor Nelson Peltz's bid for Family Dollar Stores Inc underscores growing investor appetite for retailers targeting low-income Americans in a slow economic rebound and has sparked a rally in shares of rivals.
Ex-JPMorgan executive Winters to launch fund: report
17 FEB 2011 00:51 GMT
NEW YORK (Reuters) - Bill Winters, a former top JPMorgan Chase & Co official who left in 2009 after a falling out with Chief Executive Jamie Dimon, plans to launch an asset management and hedge fund company in the City of London, the Financial Times reported on
Zain delays move on Batelco, Kingdom bids: source
17 FEB 2011 07:26 GMT
KUWAIT (Reuters) - Kuwaiti telco Zain on Wednesday delayed until Saturday a decision on bids from Kingdom Holding and Batelco for its Saudi assets after the offers were improved, a source close to Zain
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