(Reuters) - "The Department of Education has an incredibly important responsibility to administer and safeguard our nation's federal education programs ... Students, families, and the American public deserve to know whether the public officials who have been entrusted with these programs are truly acting in the best interests of students and taxpayers, or for their own financial benefit," Miller said in a statement.
Read more at Reuters.com Government Filings News
Friday, May 4, 2007
Herman Miller shares jump on Goldman upgrade
(Reuters) - Herman Miller trades at a discount to its peer group while Steelcase trades at a premium, yet Herman Miller has strong business momentum while Steelcase is more exposed to slowing growth based on its market positioning.
Growth in the U.S. office furniture industry has moderated recently, with shipments averaging about 5 percent growth for the first three months of 2007 compared with a 10 percent average for the first three months of 2006, wrote Raymond James analyst Budd Bugatch in a note to clients.
Read more at Reuters.com Hot Stocks News
Growth in the U.S. office furniture industry has moderated recently, with shipments averaging about 5 percent growth for the first three months of 2007 compared with a 10 percent average for the first three months of 2006, wrote Raymond James analyst Budd Bugatch in a note to clients.
Read more at Reuters.com Hot Stocks News
UPDATE 1-IGM Financial quarterly profit rises 14 pct
(Reuters) - IGM Financial, Canada's largest mutual fund manager, said net income was C$210.5 million , or 79 Canadian cents a share, up from C$185.3 million, or 69 Canadian cents a share, a year earlier.
Analysts expected Winnipeg, Manitoba, based IGM to earn 78 Canadian cents a share before items, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts expected Winnipeg, Manitoba, based IGM to earn 78 Canadian cents a share before items, according to Reuters Estimates.
Read more at Reuters.com Market News
Gasoline prices hit $3 as refiners strain
(Reuters) - Average retail gasoline prices in the world's top consumer reached $3.012 a gallon, the AAA travel group said, up more than 30 cents since early April and near the record of $3.057 hit after hurricanes slammed Gulf Coast oil installations in 2005.
This year, companies struggling to retool refineries to meet new environmental standards, have faced longer, more extensive maintenance and serious outages, draining gasoline inventories ahead of peak summer demand.
Read more at Reuters.com Business News
This year, companies struggling to retool refineries to meet new environmental standards, have faced longer, more extensive maintenance and serious outages, draining gasoline inventories ahead of peak summer demand.
Read more at Reuters.com Business News
Germany's REWE must answer EU query - SPAR chief
(Reuters) - Drexel, speaking to Reuters by phone from Salzburg, said his rivals were in reality acting as one. He said he hoped the Commission, executive arm of the European Union, would require a formal merger notification.
"ADEG and REWE share their purchases. Hundreds of REWE house brands are listed in ADEG shops. ADEG says itself that they will get 70 percent of their assortment from REWE," he said.
Read more at Reuters.com Mergers News
"ADEG and REWE share their purchases. Hundreds of REWE house brands are listed in ADEG shops. ADEG says itself that they will get 70 percent of their assortment from REWE," he said.
Read more at Reuters.com Mergers News
U.K. Pound Logs Weekly Gain Versus Euro on Speculation BOE Will Raise Rate
(Bloomberg) -- The pound rose in the week against the euro on speculation the Bank of England will raise interest rates next week in order to curb above-target inflation.
The U.K. currency touched a quarter-century high versus the dollar in the past month as a report showed inflation at 3.1 percent. Separate data this week said inflation will hold above the BOE's 2 percent target for another year. The pound yesterday failed to trade above the $2 milestone for the first time since April 17 as investors await today's U.S. payrolls report.
Read more at Bloomberg Currencies News
The U.K. currency touched a quarter-century high versus the dollar in the past month as a report showed inflation at 3.1 percent. Separate data this week said inflation will hold above the BOE's 2 percent target for another year. The pound yesterday failed to trade above the $2 milestone for the first time since April 17 as investors await today's U.S. payrolls report.
Read more at Bloomberg Currencies News
ALL, Petroleo Brasileiro, Vale and Wal-Mart De Mexico: Latin Equity Movers
(Bloomberg) -- Mexico's Bolsa index and Brazil's Bovespa rose for a third day.
Mexico's Bolsa index rose 276.41, or 0.9 percent, to 30,029.36 at 10:42 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange rose 457.72, or 0.9 percent, to 50,675.94.
Read more at Bloomberg Stocks News
Mexico's Bolsa index rose 276.41, or 0.9 percent, to 30,029.36 at 10:42 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange rose 457.72, or 0.9 percent, to 50,675.94.
Read more at Bloomberg Stocks News
Gold jumps 1 percent on weak dollar, fund buying
(Reuters) - Jonathan Jossen, an independent trader, said from the COMEX floor that gold jumped largely because of a reversal of the dollar against the other major currencies.
"I think we are just catching up to where we should have been," Jossen said. He also cited strength in copper, silver and crude oil as well as higher open interest in gold futures.
Read more at Reuters.com Hot Stocks News
"I think we are just catching up to where we should have been," Jossen said. He also cited strength in copper, silver and crude oil as well as higher open interest in gold futures.
Read more at Reuters.com Hot Stocks News
Poland's WIG20 Index Rallies on Earnings Prospects: World's Biggest Mover
(Bloomberg) -- Polish stocks paced gains in central Europe on speculation the country's fastest economic growth in a decade will boost earnings.
Polimex-Mostostal SA, the best-performing stock in the WIG20 Index this year, and Globe Trade Centre SA, the country's largest real-estate developer, led an advance by property-related companies.
Read more at Bloomberg Stocks News
Polimex-Mostostal SA, the best-performing stock in the WIG20 Index this year, and Globe Trade Centre SA, the country's largest real-estate developer, led an advance by property-related companies.
Read more at Bloomberg Stocks News
Rolls Royce, Reuters, Rentokil, Altadis, EMI: Credit-Default Swap Movers
(Bloomberg) -- The risk of owning European corporate bonds fell, according to traders in the credit-default swaps market.
The cost of a credit-default swap based on a 10 million- euro ($13 million) contract on the iTraxx Crossover Series 7 Index, which includes 50 companies with investment-grade and non-investment grade ratings fell 1,500 euros to 204,500 euros, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
The cost of a credit-default swap based on a 10 million- euro ($13 million) contract on the iTraxx Crossover Series 7 Index, which includes 50 companies with investment-grade and non-investment grade ratings fell 1,500 euros to 204,500 euros, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
Brazil Real Weaker as Investors Await Central Bank Efforts to Limit Gains
(Bloomberg) -- Brazil's real traded lower as investors speculated the central bank may aggressively act for a second day to slow the currency's gains.
The central bank yesterday sold all 63,050 reverse currency swap contracts offered at auction, compared with 12,700 contracts usually sold in recent weeks. The bank also bought U.S. dollars in the spot market.
Read more at Bloomberg Currencies News
The central bank yesterday sold all 63,050 reverse currency swap contracts offered at auction, compared with 12,700 contracts usually sold in recent weeks. The bank also bought U.S. dollars in the spot market.
Read more at Bloomberg Currencies News
Canadian Stocks Rise, Led by Metals Producers; Barrick, Teck Cominco Jump
(Bloomberg) -- Canadian stocks climbed for third straight day, led by raw-materials producers such as Barrick Gold Corp. and Teck Cominco Ltd., as prices for gold increased and nickel touched a record.
The Standard & Poor's/TSX Composite Index added 32.65, or 0.2 percent, to 13,719.65 as of 9:42 a.m. in Toronto. The benchmark touched a record 13,733.30 and has gained 6.3 percent this year.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index added 32.65, or 0.2 percent, to 13,719.65 as of 9:42 a.m. in Toronto. The benchmark touched a record 13,733.30 and has gained 6.3 percent this year.
Read more at Bloomberg Stocks News
Polish Zloty Headed for Record Seven-Week Gain Against Euro on Growth
(Bloomberg) -- Poland's zloty is headed for a seventh weekly gain against the euro, its longest winning streak, on expectations the robust growth of the economy will spur the central bank to keep raising interest rates.
The zloty rose for a third day, soaring to its highest in five years. Last week the Economy Ministry announced first-quarter growth was the fastest in two years and the central bank raised borrowing costs to 4.25 percent. Higher rates is encouraging investors to use the carry trade, whereby funds are borrowed in currencies at low interest rates such as the yen or Swiss franc and used to buy assets in higher-yielding currencies elsewhere.
Read more at Bloomberg Currencies News
The zloty rose for a third day, soaring to its highest in five years. Last week the Economy Ministry announced first-quarter growth was the fastest in two years and the central bank raised borrowing costs to 4.25 percent. Higher rates is encouraging investors to use the carry trade, whereby funds are borrowed in currencies at low interest rates such as the yen or Swiss franc and used to buy assets in higher-yielding currencies elsewhere.
Read more at Bloomberg Currencies News
UPDATE 1-Weyerhaeuser posts first-quarter profit vs loss
(Reuters) - The Federal Way, Washington-based company also said it was considering a sale or link-up of its containerboard, packaging and recycling business. Weyerhaeuser shares rose 4 percent in early electronic trading.
Net income in the quarter was $755 million, or $3.22 a share, compared with a net loss of $576 million, or $2.34 a share, in the year-ago quarter.
Read more at Reuters.com Market News
Net income in the quarter was $755 million, or $3.22 a share, compared with a net loss of $576 million, or $2.34 a share, in the year-ago quarter.
Read more at Reuters.com Market News
UPDATE 1-Allstate unit to get subpoena on Katrina
(Reuters) - The U.S. Department of Homeland Security has told the company that its Allstate Insurance Co. unit will be served with a subpoena for documents on homeowners' claims arising from the 2005 hurricane, Allstate said in a regulatory filing.
In the Homeland Security Appropriations Act of 2006, the U.S. Congress authorized the department to investigate insurers participating in the National Flood Insurance Program, Allstate said.
Read more at Reuters.com Government Filings News
In the Homeland Security Appropriations Act of 2006, the U.S. Congress authorized the department to investigate insurers participating in the National Flood Insurance Program, Allstate said.
Read more at Reuters.com Government Filings News
Gold hits 2-week high as US jobs data disappoints
(Reuters) - Gold prices jumped to a two-week high on Friday after weak jobs data from the United States raised speculation of a rate hike and weaker dollar, which boosted sentiment in the precious metals market.
Spot gold at 1315 GMT was up at $688.70/689.20 an ounce, slightly below the session peak of $688.90, which was the highest since April 24.
Read more at Reuters Africa
Spot gold at 1315 GMT was up at $688.70/689.20 an ounce, slightly below the session peak of $688.90, which was the highest since April 24.
Read more at Reuters Africa
GLOBAL MARKETS-Dollar falls, bonds up after US payrolls
(Reuters) - The jobs data showed the U.S. economy generated 88,000 jobs in April, against a forecast for a gain of 100,000 jobs. However, the derivatives auction showed investors were looking for a gain of 80,700.
"The data was not dollar friendly ... but the euro is so grossly overbought at this point that we needed recessionary data to push it forward," said Boris Schlossberg, senior currency strategist at Dailyfx.com in New York.
Read more at Reuters.com Bonds News
"The data was not dollar friendly ... but the euro is so grossly overbought at this point that we needed recessionary data to push it forward," said Boris Schlossberg, senior currency strategist at Dailyfx.com in New York.
Read more at Reuters.com Bonds News
Canadian Stocks May Fall on Tim Hortons' Profit Report; Thomson May Slide
(Bloomberg) -- Canadian stocks may fall for the first time in three days after earnings at Tim Hortons Inc. fell short of analysts expectations.
Shares of Thomson Corp. may fall as investors speculate that the Canadian company may bid for Reuters Plc, the world's largest publicly traded provider of financial data, which said that it had been approached by an unidentified suitor.
Read more at Bloomberg Stocks News
Shares of Thomson Corp. may fall as investors speculate that the Canadian company may bid for Reuters Plc, the world's largest publicly traded provider of financial data, which said that it had been approached by an unidentified suitor.
Read more at Bloomberg Stocks News
Chemtura to sell organic peroxides business
(Reuters) - Proceeds of the sale to will be used primarily for debt reduction, it said.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Accredited Home Lenders, BHP, Reuters, Sears, Yahoo!: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
21st Century Holding Co. (TCHC US): The insurance company slashed its earnings forecast, saying it expects to earn as much as $2.50 a share this year. The company earlier predicted $4.50. The shares rose 20 cents to $19.99 in regular trading yesterday.
Read more at Bloomberg Stocks News
21st Century Holding Co. (TCHC US): The insurance company slashed its earnings forecast, saying it expects to earn as much as $2.50 a share this year. The company earlier predicted $4.50. The shares rose 20 cents to $19.99 in regular trading yesterday.
Read more at Bloomberg Stocks News
FACTBOX-How the Reuters Founders "golden share" works
(Reuters) - - No person may hold 15 percent or more of Reuters issued shares.
- If that did happen, Reuters directors would be required to ensure the holding is reduced to below 15 percent.
Read more at Reuters.com Bonds News
- If that did happen, Reuters directors would be required to ensure the holding is reduced to below 15 percent.
Read more at Reuters.com Bonds News
Qantas bid group says acceptances fall short
(Reuters) - The consortium, Airline Partners Australia , said its A$11 billion offer for the airline would not proceed if that was the case.
"Airline Partners Australia today announced that as at 7 pm AEST on 4 May 2007 it appears that acceptances have not reached the 50 percent level required to extend the offer," the bid group said in a statement emailed to Reuters.
Read more at Reuters.com Mergers News
"Airline Partners Australia today announced that as at 7 pm AEST on 4 May 2007 it appears that acceptances have not reached the 50 percent level required to extend the offer," the bid group said in a statement emailed to Reuters.
Read more at Reuters.com Mergers News
Gold andSilver Advance in London Dollar Declines Before U.S. Jobs Report
(Bloomberg) -- Gold and silver gained before a U.S. jobs report that's expected to signal slowing growth, reducing the value of the dollar and increasing demand for precious metals as an alternative investment. Silver gained.
U.S. employers probably added 100,000 jobs last month, the fewest jobs in two years, according to the median estimate of 85 economists surveyed by Bloomberg. Gold has climbed 7.4 percent this year as the dollar dropped 2.7 percent against the euro.
Read more at Bloomberg Commodities News
U.S. employers probably added 100,000 jobs last month, the fewest jobs in two years, according to the median estimate of 85 economists surveyed by Bloomberg. Gold has climbed 7.4 percent this year as the dollar dropped 2.7 percent against the euro.
Read more at Bloomberg Commodities News
BAWAG restores Cuban accounts after public uproar
(Reuters) - BAWAG said Cerberus had won over U.S. authorities to grant BAWAG an exception from the sanctions, which ban any U.S.-owned bank from offering banking services to Cubans. Similar exceptions are in place for European units of several U.S. banks.
"The board of BAWAG P.S.K. with immediate effect revokes the decision to terminate business relationships with Cuban nationals," BAWAG said in a statement. "The board apologises for problems and irritations that arose from the earlier measures."
Read more at Reuters.com Government Filings News
"The board of BAWAG P.S.K. with immediate effect revokes the decision to terminate business relationships with Cuban nationals," BAWAG said in a statement. "The board apologises for problems and irritations that arose from the earlier measures."
Read more at Reuters.com Government Filings News
Futures rise on Yahoo report, jobs data eyed
(Reuters) - The widely anticipated monthly U.S. payrolls report, due at 8:30 a.m , will be scrutinized for further clues about the outlook for interest rates. It is forecast to show employers created 100,000 jobs in April, compared with 180,000 in March.
Yahoo's shares rose 15 percent in Europe after the New York Post reported Microsoft, the world's biggest software company, has asked the Web media company to reenter formal talks.
Read more at Reuters.com Hot Stocks News
Yahoo's shares rose 15 percent in Europe after the New York Post reported Microsoft, the world's biggest software company, has asked the Web media company to reenter formal talks.
Read more at Reuters.com Hot Stocks News
KBR first-quarter net income slightly up
(Reuters) - Earnings from continuing operations was 18 cents a share, compared with 15 cents a share a year ago, the company said.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
U.K. Stocks Jump on Possible Bids; Reuters, Hanson, EMI and BHP Climb
(Bloomberg) -- The U.K.'s FTSE 100 Index climbed as some of the biggest British companies became takeover targets.
Reuters Plc soared after saying it received a preliminary approach, and Hanson Plc jumped after Germany's HeidelbergCement AG said it may bid for the company.
Read more at Bloomberg Stocks News
Reuters Plc soared after saying it received a preliminary approach, and Hanson Plc jumped after Germany's HeidelbergCement AG said it may bid for the company.
Read more at Bloomberg Stocks News
Nickel Rises to Record on Speculation Exports May Be Disrupted; Lead Gains
(Bloomberg) -- Nickel advanced to a record in London on speculation measures taken by the state government of Western Australia to detect pollution will disrupt shipments of the metal. Lead also rose to its highest ever.
A 20,500 metric-ton shipment of nickel concentrate from LionOre Mining International Ltd. and Jubilee Mines NL, scheduled to leave Australia's Esperance Port tomorrow, will be monitored. Western Australia state's Department of Environment and Conservation said today it will stop the ship loading should odor or dust be detected. Concentrate is shipped to smelters.
Read more at Bloomberg Commodities News
A 20,500 metric-ton shipment of nickel concentrate from LionOre Mining International Ltd. and Jubilee Mines NL, scheduled to leave Australia's Esperance Port tomorrow, will be monitored. Western Australia state's Department of Environment and Conservation said today it will stop the ship loading should odor or dust be detected. Concentrate is shipped to smelters.
Read more at Bloomberg Commodities News
PetroChina Shares Jump on China's Biggest Oil Discovery in Half a Century
(Bloomberg) -- Shares of PetroChina Co., the nation's top oil producer, jumped after the company announced China's biggest discovery in half a century.
The stock climbed as much as 16.4 percent, the largest gain since the company's initial public offering in 2000 and giving the group a market value of HK$1.82 trillion ($232.7 billion). The deposit in northeastern China's Bohai Bay has an estimated 1.02 billion metric tons of oil equivalent (about 7.5 billion barrels), Beijing-based PetroChina said in a statement yesterday.
Read more at Bloomberg Emerging Markets News
The stock climbed as much as 16.4 percent, the largest gain since the company's initial public offering in 2000 and giving the group a market value of HK$1.82 trillion ($232.7 billion). The deposit in northeastern China's Bohai Bay has an estimated 1.02 billion metric tons of oil equivalent (about 7.5 billion barrels), Beijing-based PetroChina said in a statement yesterday.
Read more at Bloomberg Emerging Markets News
GLOBAL MARKETS-Europe shares hit 6-1/2 yr peak, dollar up
(Reuters) - Oil was slightly higher, recouping losses made after concerns eased about disruptions to Nigeria's production, while gold was little changed, staying below $700 an ounce.
All eyes were on U.S. April payrolls data at 1230 GMT, which have been expected to show the U.S. economy generated 100,000 jobs. But a closely-watched derivatives auction showed investors may now be looking for a lower number, which could boost expectations of an interest rate cut this year.
Read more at Reuters.com Economic News
All eyes were on U.S. April payrolls data at 1230 GMT, which have been expected to show the U.S. economy generated 100,000 jobs. But a closely-watched derivatives auction showed investors may now be looking for a lower number, which could boost expectations of an interest rate cut this year.
Read more at Reuters.com Economic News
American Dougan Must Emulate German Orphan Gruebel as Credit Suisse Chief
(Bloomberg) -- When Brady Dougan takes over Credit Suisse Group today, he'll be the first American to run the Zurich-based bank and the only chief executive officer in a decade to succeed someone who wasn't ousted.
Dougan, 47, follows Oswald Gruebel, a 63-year-old German, who doubled Credit Suisse's earnings since 2004. Unlike his three predecessors who had to craft strategies to repair missteps made by the person they replaced, Dougan's challenge will be to avoid making mistakes.
Read more at Bloomberg Exclusive News
Dougan, 47, follows Oswald Gruebel, a 63-year-old German, who doubled Credit Suisse's earnings since 2004. Unlike his three predecessors who had to craft strategies to repair missteps made by the person they replaced, Dougan's challenge will be to avoid making mistakes.
Read more at Bloomberg Exclusive News
FTSE up on flurry of M&A activity, US data eyed
(Reuters) - The FTSE 100 of Britain's leading shares was up 0.2 percent on Friday ahead of the UK holiday weekend, as a strong performance overnight in Asia and M&A activity supported the UK markets.
At 0724 GMT the UK benchmark index was up 9.6 points, or 0.2 percent, at 6,547.4 after hitting over a six-year high in the previous session.
Read more at Reuters Africa
At 0724 GMT the UK benchmark index was up 9.6 points, or 0.2 percent, at 6,547.4 after hitting over a six-year high in the previous session.
Read more at Reuters Africa
Nickel Futures Advance to Record in London; Lead Increases to Highest Ever
(Bloomberg) -- Nickel advanced to records in London as the state government of Western Australia said it will monitor a shipment in an investigations that has curbed lead exports. Lead also rose to its highest ever.
A 20,500 metric-ton shipment of nickel concentrate from LionOre Mining International Ltd. and Jubilee Mines NL, scheduled to leave Australia's Esperance Port tomorrow, will be monitored. Western Australia state's Department of Environment and Conservation said today it will stop the ship loading should odor or dust be detected. Concentrate is shipped to smelters.
Read more at Bloomberg Commodities News
A 20,500 metric-ton shipment of nickel concentrate from LionOre Mining International Ltd. and Jubilee Mines NL, scheduled to leave Australia's Esperance Port tomorrow, will be monitored. Western Australia state's Department of Environment and Conservation said today it will stop the ship loading should odor or dust be detected. Concentrate is shipped to smelters.
Read more at Bloomberg Commodities News
Indonesian Rupiah at Four-Month High as Demand for Stocks, Bonds Increases
(Bloomberg) -- Indonesia's rupiah strengthened to the highest in four months against the dollar as overseas investors increased purchases of the nation's stocks and bonds.
The rupiah led gains among the 15 most-actively traded Asia Pacific currencies this week as the country's equity index reached a record and 10-year bonds gained for a 14th day. The central bank sees a ``strong possibility'' of an interest-rate cut next week, Deputy Governor Hartadi Sarwono said, spurring speculation lower borrowing costs will help boost economic growth.
Read more at Bloomberg Currencies News
The rupiah led gains among the 15 most-actively traded Asia Pacific currencies this week as the country's equity index reached a record and 10-year bonds gained for a 14th day. The central bank sees a ``strong possibility'' of an interest-rate cut next week, Deputy Governor Hartadi Sarwono said, spurring speculation lower borrowing costs will help boost economic growth.
Read more at Bloomberg Currencies News
UPDATE 1-BG Group underlying profit down 20 pct as gas dips
(Reuters) - BG said in a statement that its first-quarter net profit excluding non-operating items was 448 million pounds, slightly ahead of expectations.
A Reuters poll of 10 analysts on Thursday gave an average forecast of 433 million pounds for BG's net profit, excluding non-operational items such as asset sales, down from 563 million pounds last year.
Read more at Reuters.com Market News
A Reuters poll of 10 analysts on Thursday gave an average forecast of 433 million pounds for BG's net profit, excluding non-operational items such as asset sales, down from 563 million pounds last year.
Read more at Reuters.com Market News
Treasuries Little Changed; U.S. Data May Show Fewer Jobs Created in April
(Bloomberg) -- U.S. Treasuries were little changed before a report today that may show the economy created fewer jobs last month.
The Labor Department may say payrolls increased by 100,000, lower than 180,000 jobs created in March, according to a survey by Bloomberg News. The last two reports for February and March were stronger than economists' forecast and caused the two largest increases in 10-year note yields this year.
Read more at Bloomberg Bonds News
The Labor Department may say payrolls increased by 100,000, lower than 180,000 jobs created in March, according to a survey by Bloomberg News. The last two reports for February and March were stronger than economists' forecast and caused the two largest increases in 10-year note yields this year.
Read more at Bloomberg Bonds News
Morgan Stanley, BlueOrchard in microfinance ABS
(Reuters) - Investment bank Morgan Stanley and BlueOrchard Finance are launching a $108 million bond backed by loans to microfinance institutions that is the first to be rated by a major rating agency.
Microfinance hit the headlines last year when Muhammad Yunus of Bangladesh, who conceived the concept, and the Grameen Bank he founded won the Nobel Peace Prize.
Read more at Reuters Africa
Microfinance hit the headlines last year when Muhammad Yunus of Bangladesh, who conceived the concept, and the Grameen Bank he founded won the Nobel Peace Prize.
Read more at Reuters Africa
Iusacell, Mexichem, Vale do Rio Doce: Latin American Equity Preview
(Bloomberg) -- The following stocks may make significant gains or losses in Brazil and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session. In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
Total Profit Declines 11 Percent Because of Weak Dollar, Lower Oil Prices
(Bloomberg) -- Total SA, Europe's third-largest oil company, reported an 11 percent drop in first-quarter profit because of a weaker dollar and lower energy prices.
Net income, excluding Total's Sanofi-Aventis SA stake, fell to 3.0 billion euros ($4.14 billion) from 3.38 billion euros a year earlier. That's higher than the median estimate for earnings of 2.86 billion euros from 10 analysts surveyed by Bloomberg News.
Read more at Bloomberg Energy News
Net income, excluding Total's Sanofi-Aventis SA stake, fell to 3.0 billion euros ($4.14 billion) from 3.38 billion euros a year earlier. That's higher than the median estimate for earnings of 2.86 billion euros from 10 analysts surveyed by Bloomberg News.
Read more at Bloomberg Energy News
Kia Motors Reports Third Straight Loss as Sorento Sales Drop, Won Rises
(Bloomberg) -- Kia Motors Corp., an affiliate of South Korea's biggest automaker, reported an unexpected third straight loss because of a cut in Sorento sport-utility vehicle production and a stronger won.
The net loss was 30.6 billion won ($33 million) in the three months ended March 31, compared with a 38.4 billion won profit a year earlier, the Seoul-based automaker said in a statement today. That was less than the median estimate of a 13 billion won profit in a Bloomberg News survey of seven analysts. Sales dropped 12 percent to 3.85 trillion won.
Read more at Bloomberg Emerging Markets News
The net loss was 30.6 billion won ($33 million) in the three months ended March 31, compared with a 38.4 billion won profit a year earlier, the Seoul-based automaker said in a statement today. That was less than the median estimate of a 13 billion won profit in a Bloomberg News survey of seven analysts. Sales dropped 12 percent to 3.85 trillion won.
Read more at Bloomberg Emerging Markets News
Gold, Silver Little Changed in Asia After Rising Amid Peru Supply Concerns
(Bloomberg) -- Gold and silver were little changed after climbing from one-month lows amid concern a national mining strike in Peru may disrupt supplies.
Gold rose for the first day in four yesterday as talks continued between Peru's government and miners' unions, which went on strike on April 30. Peru is the world's largest producer of silver and the fifth-largest gold producer.
Read more at Bloomberg Commodities News
Gold rose for the first day in four yesterday as talks continued between Peru's government and miners' unions, which went on strike on April 30. Peru is the world's largest producer of silver and the fifth-largest gold producer.
Read more at Bloomberg Commodities News
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