(Reuters) - Greifeld, 49, also had a $3.68 million gain from the vesting of 100,000 shares.
Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, and incentives and perks.
Read more at Reuters.com Business News
Friday, April 20, 2007
UPDATE 1-Decision over Wolfowitz delayed until next week
(Reuters) - WASHINGTON, April 20 - The fate of World Bank President Paul Wolfowitz will be determined next week when a bank committee reports on whether a promotion he approved for his girlfriend was properly handled, sources said on Friday.
It remains unclear whether the controversial former Bush administration official will be forced to resign, face a stiff reprimand or win a last-minute reprieve that would let him finish the remaining three years of his tenure.
Read more at Reuters.com Bonds News
It remains unclear whether the controversial former Bush administration official will be forced to resign, face a stiff reprimand or win a last-minute reprieve that would let him finish the remaining three years of his tenure.
Read more at Reuters.com Bonds News
House approves "say on pay" for shareholders
(Reuters) - By a 269-134 vote, the House passed the "say on pay" bill drafted by Massachusetts Democrat Barney Frank, chairman of the Financial Services Committee, amid soaring pay for chief executives and rising worries about U.S. income inequality.
The measure would require corporations to hold the symbolic shareholder votes on pay each year, but they could ignore the outcomes. The measure is meant to make boards of directors think twice before giving massive pay packages to managers.
Read more at Reuters.com Government Filings News
The measure would require corporations to hold the symbolic shareholder votes on pay each year, but they could ignore the outcomes. The measure is meant to make boards of directors think twice before giving massive pay packages to managers.
Read more at Reuters.com Government Filings News
Coffee Falls, Capping First Weekly Drop This Month, as Brazil Exports Gain
(Bloomberg) -- Coffee fell in New York, ending with its first weekly loss in April, as exports from Brazil and stockpiles in exchange-monitored warehouses continue to rise.
Shipments from Brazil, the world's largest grower, rose to 1.26 million bags this month, a 5.9 percent increase from the same period a month earlier, according to Brazil's coffee exporters' council. Stockpiles in warehouses tracked by the New York Coffee, Sugar & Cocoa Exchange climbed to more than 4 million bags on April 18, the highest since December 2005.
Read more at Bloomberg Commodities News
Shipments from Brazil, the world's largest grower, rose to 1.26 million bags this month, a 5.9 percent increase from the same period a month earlier, according to Brazil's coffee exporters' council. Stockpiles in warehouses tracked by the New York Coffee, Sugar & Cocoa Exchange climbed to more than 4 million bags on April 18, the highest since December 2005.
Read more at Bloomberg Commodities News
Venezuelan Currency Falls Versus Dollar as Demand Exceeds Official Rate
(Bloomberg) -- Venezuela's currency fell in unregulated trading as the government's sale of dollars at the official exchange rate failed to meet corporate demand.
The bolivar fell 0.7 percent to 3,650 to the dollar in the parallel market at 11 a.m. New York time from 3,525 yesterday. The government has the bolivar pegged at an official exchange rate of 2,150 per dollar under currency restrictions it imposed in 2003.
Read more at Bloomberg Currencies News
The bolivar fell 0.7 percent to 3,650 to the dollar in the parallel market at 11 a.m. New York time from 3,525 yesterday. The government has the bolivar pegged at an official exchange rate of 2,150 per dollar under currency restrictions it imposed in 2003.
Read more at Bloomberg Currencies News
Hogs Fall on Drop in U.S. Pork Exports; Cattle Futures Decline on Demand
(Bloomberg) -- Hogs in Chicago fell for the third day in four after the U.S. said pork exports declined. Cattle futures fell amid slack beef demand.
U.S. pork exports fell to 249 million pounds in February, down 10 percent from the previous month, the U.S. Department of Agriculture said this week. Japan, the largest overseas buyer of pork, bought 86 million pounds, 18 percent less than in January.
Read more at Bloomberg Commodities News
U.S. pork exports fell to 249 million pounds in February, down 10 percent from the previous month, the U.S. Department of Agriculture said this week. Japan, the largest overseas buyer of pork, bought 86 million pounds, 18 percent less than in January.
Read more at Bloomberg Commodities News
UPDATE 1-U.S. Treasury refunding queries show uncertainty
(Reuters) - In a questionnaire distributed to the 22 member firms of the Treasury Borrowing Advisory Committee ahead of its next quarterly refunding meeting on May 1, the Treasury also sought advice on whether elevated levels of secondary market trading of Treasury securities would continue.
"Given your assessments of budget projections and the economic outlook, please discuss the suitability of Treasury's current financing schedule given your expectations of financing needs going forward," the Treasury asks in the questionnaire.
Read more at Reuters.com Bonds News
"Given your assessments of budget projections and the economic outlook, please discuss the suitability of Treasury's current financing schedule given your expectations of financing needs going forward," the Treasury asks in the questionnaire.
Read more at Reuters.com Bonds News
Dutch finmin says to be fair on any ABN AMRO bid
(Reuters) - "There is no official bid yet regarding the consortium," he said. But he added that any approach should be handled in an orderly manner.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Nelnet to pay $1 mln over student loan impropriety
(Reuters) - NEW YORK, April 20 - Student loan provider Nelnet Inc. said on Friday it agreed with the Nebraska Attorney General to pay $1 million for an educational campaign after disclosing improper student loan lending practices.
As the lending industry has come under scrutiny in recent months, Nebraska Attorney General Jon Bruning said on Friday Nelnet came to his office two months ago to disclose some impropoer behavior. Nelnet said it had paid $4,800 in a revenue sharing agreement with a school and paid for a plane ticket for an Albany admissions officer.
Read more at Reuters.com Bonds News
As the lending industry has come under scrutiny in recent months, Nebraska Attorney General Jon Bruning said on Friday Nelnet came to his office two months ago to disclose some impropoer behavior. Nelnet said it had paid $4,800 in a revenue sharing agreement with a school and paid for a plane ticket for an Albany admissions officer.
Read more at Reuters.com Bonds News
Mexican stocks gain on corporate earnings optimism
(Reuters) - The benchmark IPC stock index rose 0.59 percent to 29,797 points, while the peso currency firmed 0.11 percent to 10.9825 per dollar.
The benchmark 10-year government peso bond moved up 0.192 in price for a yield of 7.58 percent.
Read more at Reuters.com Bonds News
The benchmark 10-year government peso bond moved up 0.192 in price for a yield of 7.58 percent.
Read more at Reuters.com Bonds News
UPDATE 1-Taiwan says foreign firm eyes stake in bank CUTIC
(Reuters) - Foreign interest in the Taiwan banking market, Asia's fourth-largest, has heated up since 2006 in part because an island-wide consumer credit crunch had sent banking stocks to some of the cheapest levels in the region.
"The firm paid us a visit recently. They are working on DD on CUTIC, and that can be completed in the next seven to 10 days," said Susan Chang, administrative vice chairwoman of the Financial Supervisory Commission .
Read more at Reuters.com Mergers News
"The firm paid us a visit recently. They are working on DD on CUTIC, and that can be completed in the next seven to 10 days," said Susan Chang, administrative vice chairwoman of the Financial Supervisory Commission .
Read more at Reuters.com Mergers News
FACTBOX-G7 draft recommendations on hedge funds
(Reuters) - The report was prepared by the Financial Stability Forum , headed by Italian central bank chief Mario Draghi.
It stops short of a radical overhaul but aims to reinforce current practice with the following suggestions:
Read more at Reuters.com Government Filings News
It stops short of a radical overhaul but aims to reinforce current practice with the following suggestions:
Read more at Reuters.com Government Filings News
TREASURIES-Bond prices slip as stocks surge
(Reuters) - NEW YORK, April 20 - U.S. government bond prices slipped on Friday as investors returned to rebounding equities, quashing the safe-haven bid that bonds drew earlier this week.
The Dow Jones industrial average surged more than 1 percent in early trade to 12,942.72.
Read more at Reuters.com Bonds News
The Dow Jones industrial average surged more than 1 percent in early trade to 12,942.72.
Read more at Reuters.com Bonds News
Barrick Gold Sells Its Entire NovaGold Stake After Takeover Bid Fails
(Bloomberg) -- Barrick Gold Corp., the world's biggest gold producer, today sold its entire stake in NovaGold Resources Inc. after its hostile takeover bid failed.
Barrick Gold was the largest NovaGold shareholder, owning 13.6 million shares of the Vancouver-based gold mining company for a 14.8 percent stake. Barrick's attempt to buy NovaGold for $1.71 billion failed in December.
Read more at Bloomberg Stocks News
Barrick Gold was the largest NovaGold shareholder, owning 13.6 million shares of the Vancouver-based gold mining company for a 14.8 percent stake. Barrick's attempt to buy NovaGold for $1.71 billion failed in December.
Read more at Bloomberg Stocks News
Germany's DAX Index Gains; Deutsche Bank, Siemens, SAP Lead Advance
(Bloomberg) -- Germany's DAX Index rose for the first time in three days, led by Deutsche Bank AG on takeover speculation.
Siemens AG gained paced the advance. SAP AG climbed after the world's largest maker of business-management software reported an increase in profit. Metro AG also advanced.
Read more at Bloomberg Stocks News
Siemens AG gained paced the advance. SAP AG climbed after the world's largest maker of business-management software reported an increase in profit. Metro AG also advanced.
Read more at Bloomberg Stocks News
Dresdner Says Buy Treasuries, Sell German Bunds on Interest Rate Outlook
(Bloomberg) -- Investors should buy U.S. Treasuries against German Bunds to capitalize on speculation the European Central Bank will raise interest rates further while the Federal Reserve lowers borrowing costs, according to Dresdner Kleinwort.
Prices of benchmark European bonds will fall, pushing yields higher, as the ECB may raise interest rates to as high as 4.50 percent next year from 3.75 percent, said Christoph Rieger, fixed income strategist at Dresdner Kleinwort in Frankfurt.
Read more at Bloomberg Bonds News
Prices of benchmark European bonds will fall, pushing yields higher, as the ECB may raise interest rates to as high as 4.50 percent next year from 3.75 percent, said Christoph Rieger, fixed income strategist at Dresdner Kleinwort in Frankfurt.
Read more at Bloomberg Bonds News
Foot Locker offers to buy rival for $1.2 bln
(Reuters) - Foot Locker made the takeover proposal to Nashville-based Genesco on April 4, offering a 26-percent premium to its average share price during the one year period preceding the proposal date.
The merger would be consistent with the company's strategy to increase its presence in the specialty footwear arena, Foot Locker Chief Executive Matthew Serra said in the letter.
Read more at Reuters.com Business News
The merger would be consistent with the company's strategy to increase its presence in the specialty footwear arena, Foot Locker Chief Executive Matthew Serra said in the letter.
Read more at Reuters.com Business News
India's Inflation Remains Above Central Bank Target for 18th Straight Week
(Bloomberg) -- India's inflation accelerated more than expected, remaining above the central bank's target for an 18th week, because of higher prices for wheat and vegetables.
The key wholesale price inflation rate was 6.09 percent in the week ended April 7, from 5.74 percent in the previous week, the Ministry of Commerce & Industry said in a statement in New Delhi today. Analysts were expecting 5.8 percent.
Read more at Bloomberg Currencies News
The key wholesale price inflation rate was 6.09 percent in the week ended April 7, from 5.74 percent in the previous week, the Ministry of Commerce & Industry said in a statement in New Delhi today. Analysts were expecting 5.8 percent.
Read more at Bloomberg Currencies News
S.Africa maize wobbles as players offload
(Reuters) - South Africa's main maize contracts dropped sharply on Friday amid speculation that fears of drought damage may have been exaggerated, but traders said prices might rebound ahead of a crop forecast next week.
July white maize closed 2.71 percent lower at 1,616 rand a tonne, falling by the daily limit of 45 rand and breaking further below the key 1,700 level.
Read more at Reuters Africa
July white maize closed 2.71 percent lower at 1,616 rand a tonne, falling by the daily limit of 45 rand and breaking further below the key 1,700 level.
Read more at Reuters Africa
US STOCKS-Wall Street rallies at open on earnings
(Reuters) - The Dow Jones industrial average was up 105.16 points, or 0.82 percent, at 12,913.79. The Standard & Poor's 500 Index was up 10.87 points, or 0.74 percent, at 1,481.60. The Nasdaq Composite Index was up 23.99 points, or 0.96 percent, at 2,529.34.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
South African Rand Reaches 3-1/2 Month High as Gold, Platinum Prices Rise
(Bloomberg) -- The South African rand climbed to its strongest in more than three months as rising gold and platinum prices boosted demand. The local currency is headed for its biggest weekly gain in a month.
South Africa is the world's largest producer of gold and platinum and its currency often moves in tandem with the metals. The rand also gained alongside other emerging market currencies as investors sought higher yields on speculation economic growth in the U.S. is slowing.
Read more at Bloomberg Currencies News
South Africa is the world's largest producer of gold and platinum and its currency often moves in tandem with the metals. The rand also gained alongside other emerging market currencies as investors sought higher yields on speculation economic growth in the U.S. is slowing.
Read more at Bloomberg Currencies News
UPDATE 1-Sherritt plans C$1.6 bln buy of Dynatec
(Reuters) - Under the proposed arrangement, Dynatec shareholders will get 0.190 of a Sherritt share and about 0.0635 of an FNX Mining Company share, which are currently owned by Dynatec, for each Dynatec share held.
That values each Dynatec share at C$4.88, a 29 percent premium to the closing price on April 19, and 39 percent premium on the 20-day, volume weighted average share prices for the three companies from that date, Sherritt said.
Read more at Reuters.com Mergers News
That values each Dynatec share at C$4.88, a 29 percent premium to the closing price on April 19, and 39 percent premium on the 20-day, volume weighted average share prices for the three companies from that date, Sherritt said.
Read more at Reuters.com Mergers News
UPDATE 2-H&R Block to sell subprime unit, shares soar
(Reuters) - April 20 - H&R Block Inc. , the largest U.S. tax preparer, agreed to sell its subprime lender Option One Mortgage Corp. to an affiliate of Cerberus Capital Management L.P., and said it is closing the unit's H&R Block Mortgage Corp.
The cash purchase price will be the value of the tangible net assets of the business at the date of closing, less $300 million. As of Jan. 31, the tangible net assets of Option One were $1.27 billion, the company said in a statement.
Read more at Reuters.com Bonds News
The cash purchase price will be the value of the tangible net assets of the business at the date of closing, less $300 million. As of Jan. 31, the tangible net assets of Option One were $1.27 billion, the company said in a statement.
Read more at Reuters.com Bonds News
Wilmington Trust quarterly profit falls
(Reuters) - The Wilmington, Delaware-based company said it earned $43.0 million or 62 cents a share in the latest first quarter, compared with year-ago earnings of $44.1 million or 64 cents a share.
For the latest quarter, analysts expected earnings of 67 cents a share, excluding items, according to Reuters Estimates.
Read more at Reuters.com Market News
For the latest quarter, analysts expected earnings of 67 cents a share, excluding items, according to Reuters Estimates.
Read more at Reuters.com Market News
German Power for Monday Rises; Forecasters Say Wind Production May Drop
(Bloomberg) -- German power for delivery on the next working day increased as forecasters predicted a drop in wind speeds that may reduce production from wind-power turbines, and could generate more than 6 percent of the nation's electricity.
German working-day-ahead power rose as much as 29 percent to 35.50 euros ($48.32) a megawatt hour, according to price information on Bloomberg from the energy broker GFI Group Inc. The average working-day price this week was 33.60 euros.
Read more at Bloomberg Energy News
German working-day-ahead power rose as much as 29 percent to 35.50 euros ($48.32) a megawatt hour, according to price information on Bloomberg from the energy broker GFI Group Inc. The average working-day price this week was 33.60 euros.
Read more at Bloomberg Energy News
UPDATE 1-Honeywell profit up 20 percent, raises forecast
(Reuters) - The diversified manufacturer, which is the world's largest maker of cockpit electronics, reported profit of $526 million, or 66 cents per share, compared with $436 million, or 52 cents per share a year earlier. Analysts, on average, had expected profit of 62 cents per share, according to Reuters Estimates.
Revenue came in at $8.04 billion, up 11 percent from $7.24 billion a year earlier. Analysts, on average, had expected revenue of $7.71 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Revenue came in at $8.04 billion, up 11 percent from $7.24 billion a year earlier. Analysts, on average, had expected revenue of $7.71 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Johnson Controls quarterly earnings rise
(Reuters) - Earnings per share from continuing operations was $1.12, excluding a one-time tax benefit. On that basis, analysts on average expected Milwaukee-based Johnson Controls to earn $1.06 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
PTC Therapeutics seeks to withdraw IPO, cites market conditions
(Reuters) - It did not since then specify the number of shares it planned to sell, or the expected price per share. The company had sought a Nasdaq listing under the symbol "PTCT."
The underwriters were Morgan Stanley & Co. Inc., J.P. Morgan Securities Inc., Pacific Growth Equities LLC.
Read more at Reuters.com Government Filings News
The underwriters were Morgan Stanley & Co. Inc., J.P. Morgan Securities Inc., Pacific Growth Equities LLC.
Read more at Reuters.com Government Filings News
Private equity in $22 bln Alliance Boots bid battle
(Reuters) - U.S. buyout firm Kohlberg Kravis Roberts and Pessina, Alliance Boots' deputy chairman and biggest shareholder, said they had agreed to buy the drugs wholesaler and retailer with a firm offer of 1,090 pence a share in cash.
But only hours later Guy Hands' Terra Firma, working with medical charity Wellcome Trust and banking group HBOS, said it had made an indicative proposal to the company's board worth 1,126 pence a share in cash.
Read more at Reuters.com Business News
But only hours later Guy Hands' Terra Firma, working with medical charity Wellcome Trust and banking group HBOS, said it had made an indicative proposal to the company's board worth 1,126 pence a share in cash.
Read more at Reuters.com Business News
UPDATE 1-JPMorgan
(Reuters) - "Given the questions that have arisen over what has happened with this bond ... our proposal to buy back the bond and end the swap will help reach the best result for all those concerned," JPMorgan said in a statement.
The structured 280 million euro bond, which was issued on Feb. 22, 2007 with an initial coupon of 6.25 percent and terminates in 2019, has made headlines in the Greek media for weeks.
Read more at Reuters.com Bonds News
The structured 280 million euro bond, which was issued on Feb. 22, 2007 with an initial coupon of 6.25 percent and terminates in 2019, has made headlines in the Greek media for weeks.
Read more at Reuters.com Bonds News
Altadis Credit-Default Swaps Decline After Report CVC Takeover Rebuffed
(Bloomberg) -- Altadis SA credit-default swaps fell after financial Web site Bolsacinco reported that the Spanish maker of Gauloises cigarettes and Cohiba cigars rebuffed an offer to sell the company to private equity investors.
Contracts based on 10 million euros ($13.6 million) of Altadis debt dropped 10,000 euros to 74,500 euros, according to Deutsche Bank AG. Earlier the credit derivatives fell as low as 64,500 euros. Credit-default swaps are based on corporate bonds and used to speculate on a company's creditworthiness.
Read more at Bloomberg Bonds News
Contracts based on 10 million euros ($13.6 million) of Altadis debt dropped 10,000 euros to 74,500 euros, according to Deutsche Bank AG. Earlier the credit derivatives fell as low as 64,500 euros. Credit-default swaps are based on corporate bonds and used to speculate on a company's creditworthiness.
Read more at Bloomberg Bonds News
Des Pallieres to Set Up Bank, Asset Manager After Quitting Deutsche Bank
(Bloomberg) -- Bertrand des Pallieres, who quit Deutsche Bank AG as co-head of global principal finance last month, is setting up an asset management firm and an investment bank.
Des Pallieres, 39, will be joined by Malik Chaabouni and Moez Ben-Zid, who last week resigned as managing directors in the credit trading group at Deutsche Bank in London. The three worked at JPMorgan Chase & Co., where des Pallieres was global co-head of credit derivatives until 2005.
Read more at Bloomberg Bonds News
Des Pallieres, 39, will be joined by Malik Chaabouni and Moez Ben-Zid, who last week resigned as managing directors in the credit trading group at Deutsche Bank in London. The three worked at JPMorgan Chase & Co., where des Pallieres was global co-head of credit derivatives until 2005.
Read more at Bloomberg Bonds News
U.S. Stock-Index Futures Rise; Google, AMD, Palm Shares Climb in Europe
(Bloomberg) -- U.S. stock-index futures advanced on speculation corporate earnings growth can be sustained after Google Inc. the owner of the most-used Internet search engine, reported profit that beat analysts' estimates.
Advanced Micro Devices Inc. rose after Chief Executive Officer Hector Ruiz said the company was open for all options of funding. Palm Inc. gained in Germany after Lehman Brothers Holdings Inc. raised its recommendation on shares of the maker of the Treo e-mail phone.
Read more at Bloomberg Stocks News
Advanced Micro Devices Inc. rose after Chief Executive Officer Hector Ruiz said the company was open for all options of funding. Palm Inc. gained in Germany after Lehman Brothers Holdings Inc. raised its recommendation on shares of the maker of the Treo e-mail phone.
Read more at Bloomberg Stocks News
Malaysia's Palm Oil Exports Rise 32 Percent April 1-20, SGS Surveyor Says
(Bloomberg) -- Malaysia's palm oil exports rose 32 percent from April 1 to April 20, compared with a month earlier, according to estimates by independent cargo surveyor Societe Generale de Surveillance.
A total of 789,644 metric tons of bulk palm oil shipments through Malaysian sea ports were tracked in the period, SGS Malaysia said in a report issued today. Malaysia exported a total of 596,774 tons of palm oil in the same period last month, the surveyor said.
Read more at Bloomberg Commodities News
A total of 789,644 metric tons of bulk palm oil shipments through Malaysian sea ports were tracked in the period, SGS Malaysia said in a report issued today. Malaysia exported a total of 596,774 tons of palm oil in the same period last month, the surveyor said.
Read more at Bloomberg Commodities News
Europe shares rise as focus shifts to M&A, results
(Reuters) - At 0803 GMT, the FTSEurofirst 300 was up 0.6 percent at 1,569.33 points, with major indexes in Britain, Germany and France up 0.5 percent and Germany's DAX up 0.8 percent.
British retailer and pharmaceuticals wholesaler Alliance Boots gained nearly 6 percent after it agreed a higher takeover bid from Kohlberg Kravis Roberts and billionaire Stefano Pessina. A rival consortium said it had proposed an indicative bid.
Read more at Reuters.com Hot Stocks News
British retailer and pharmaceuticals wholesaler Alliance Boots gained nearly 6 percent after it agreed a higher takeover bid from Kohlberg Kravis Roberts and billionaire Stefano Pessina. A rival consortium said it had proposed an indicative bid.
Read more at Reuters.com Hot Stocks News
Rand a tad stronger, may test 7/dollar
(Reuters) - South Africa's rand strengthened slightly versus the dollar on Friday as some fears over the unwinding of carry trade subsided and traders expected the currency to edge close to the 7/dollar mark.
The rand traded at 7.0350 versus the dollar at 0630 GMT, 0.3 percent firmer than its New York close of 7.06 on Thursday.
Read more at Reuters Africa
The rand traded at 7.0350 versus the dollar at 0630 GMT, 0.3 percent firmer than its New York close of 7.06 on Thursday.
Read more at Reuters Africa
FTSE climbs as China worries ease; Boots bid up
(Reuters) - The FTSE 100 of Britain's leading shares was up 0.6 percent on Friday after Wall Street hit a record high and on a rebound on Asian markets, as concerns over Chinese interest rates and growth eased.
Data on Thursday showing that China's economy grew at an 11.1 percent annual pace in the first quarter had heightened jitters over the Chinese economy and its demand for raw materials.
Read more at Reuters Africa
Data on Thursday showing that China's economy grew at an 11.1 percent annual pace in the first quarter had heightened jitters over the Chinese economy and its demand for raw materials.
Read more at Reuters Africa
Reservoir Exploration Shares Surge After Goldman Recommends Buying Stock
(Bloomberg) -- Shares of Reservoir Exploration Technology ASA, a seismic surveyor for the oil industry, climbed to an all-time high after Goldman, Sachs & Co. recommended investors buy the stock on the outlook for earnings.
The shares jumped 4 kroner, or 6.2 percent, to 69 kroner at 9:28 a.m. in Oslo, valuing the Norway-based company at 1.74 billion kroner ($293 million). The shares have climbed 25 percent this year.
Read more at Bloomberg Stocks News
The shares jumped 4 kroner, or 6.2 percent, to 69 kroner at 9:28 a.m. in Oslo, valuing the Norway-based company at 1.74 billion kroner ($293 million). The shares have climbed 25 percent this year.
Read more at Bloomberg Stocks News
UAW union mulls bid for DaimlerChrysler: WSJ
(Reuters) - DaimlerChrysler, the world's fifth-biggest carmaker, said in February it was considering all options for loss-making Chrysler.
Sources have told Reuters that bidders for Chrysler include private equity firms Cerberus Capital Management , Blackstone Group and Canadian auto parts maker Magna International Inc .
Read more at Reuters.com Business News
Sources have told Reuters that bidders for Chrysler include private equity firms Cerberus Capital Management , Blackstone Group and Canadian auto parts maker Magna International Inc .
Read more at Reuters.com Business News
Corus Credit-Default Swaps Tumble as Tata Steel Delays Decision Over Bonds
(Bloomberg) -- Credit-default swaps based on Corus Group Plc's bonds fell to a two-year low this week after Tata Steel Ltd. delayed a decision on refinancing debt of the U.K. steelmaker it acquired last year.
Contracts on 10 million euros ($13 million) of London-based Corus's debt fell 31,000 euros to 115,000 euros this week, according to data compiled by Bloomberg. Tata Steel, the world's sixth-largest maker of the metal, said April 17 it has yet to decide on whether to redeem Corus's $1.9 billion of outstanding bonds.
Read more at Bloomberg Bonds News
Contracts on 10 million euros ($13 million) of London-based Corus's debt fell 31,000 euros to 115,000 euros this week, according to data compiled by Bloomberg. Tata Steel, the world's sixth-largest maker of the metal, said April 17 it has yet to decide on whether to redeem Corus's $1.9 billion of outstanding bonds.
Read more at Bloomberg Bonds News
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