(Reuters) - Gold-Lubell, whose departure was announced in March, was True Religion's second-largest individual shareholder behind her husband.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Friday, June 8, 2007
UPDATE 1-Mexico's Satmex suspends sale
(Reuters) - "The offers received to date do not adequately fulfill
the requirements of the technical committee nor the
expectations of the parties," the company said in a statement.
Satmex, short for Satelites Mexicanos, decided to put
itself up for sale after a long period of debt restructuring.
Read more at Reuters.com Mergers News
the requirements of the technical committee nor the
expectations of the parties," the company said in a statement.
Satmex, short for Satelites Mexicanos, decided to put
itself up for sale after a long period of debt restructuring.
Read more at Reuters.com Mergers News
Group launches tender offer for Laureate Education
(Reuters) - The group said it could amend the tender offer to require
as little as 43 percent of outstanding shares. It said the
tender offer should expire on July 6.
Read more at Reuters.com Bonds News
as little as 43 percent of outstanding shares. It said the
tender offer should expire on July 6.
Read more at Reuters.com Bonds News
TREASURIES-Bonds recover mildly but rate worries linger
(Reuters) - NEW YORK, June 8 - U.S. Treasury debt prices rose
on Friday on bargain-hunting and short-covering after benchmark
yields briefly advanced to five-year highs amid worries about
tightening credit conditions globally.
The market's mild recovery followed a plunge on Thursday,
but analysts and traders said a cross-section of players
including fund managers, central banks and mortgage companies
continued to liquidate long positions and rebalance their
books.
Read more at Reuters.com Bonds News
on Friday on bargain-hunting and short-covering after benchmark
yields briefly advanced to five-year highs amid worries about
tightening credit conditions globally.
The market's mild recovery followed a plunge on Thursday,
but analysts and traders said a cross-section of players
including fund managers, central banks and mortgage companies
continued to liquidate long positions and rebalance their
books.
Read more at Reuters.com Bonds News
Canadian Stocks Advance on Takeover Speculation, Paring the Weekly Retreat
(Bloomberg) -- Canadian stocks rose for the first time
in four days, after a report that Germany's ThyssenKrupp AG is in
talks to buy U.S. Steel Corp. rekindled takeover speculation
surrounding Canadian commodity producers.
The speculation helped the market pare its worst weekly loss
in three months, touched off by concerns that inflation and higher
global interest rates will curb economic growth. Financial shares
including Royal Bank of Canada rose after leading the Standard &
Poor's/TSX Composite Index lower all week. Commodity producers such
as Teck Cominco Ltd. and Canadian Natural Resources Ltd. erased
declines, even as copper and crude oil prices dropped.
Read more at Bloomberg Stocks News
in four days, after a report that Germany's ThyssenKrupp AG is in
talks to buy U.S. Steel Corp. rekindled takeover speculation
surrounding Canadian commodity producers.
The speculation helped the market pare its worst weekly loss
in three months, touched off by concerns that inflation and higher
global interest rates will curb economic growth. Financial shares
including Royal Bank of Canada rose after leading the Standard &
Poor's/TSX Composite Index lower all week. Commodity producers such
as Teck Cominco Ltd. and Canadian Natural Resources Ltd. erased
declines, even as copper and crude oil prices dropped.
Read more at Bloomberg Stocks News
GeoEye, Limelight, Quiksilver, Sirva, U.S. Steel: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 2:40 p.m. New York time.
Auxilium Pharmaceuticals Inc. (AUXL US) rose $1.32, or 9.1
percent, to $15.83. The drugmaker said it would raise $49.9
million by selling about 3.7 million shares for $14.50 a share.
Read more at Bloomberg Stocks News
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 2:40 p.m. New York time.
Auxilium Pharmaceuticals Inc. (AUXL US) rose $1.32, or 9.1
percent, to $15.83. The drugmaker said it would raise $49.9
million by selling about 3.7 million shares for $14.50 a share.
Read more at Bloomberg Stocks News
Copper Tumbles 3.5 Pecent on Speculation Slowing Economies May Damp Demand
(Bloomberg) -- Copper futures in New York tumbled
3.5 percent, the most in two weeks, on expectations that rising
borrowing costs in major economies will slow growth and limit
demand for metals.
Copper, which generally moves in tandem with economic
expansion, has gained 13 percent this year. The U.S. Federal
Reserve is unlikely to cut interest rates before 2008, according
to a Bloomberg survey. Economists last month forecast a 25
basis-point cut in the fourth quarter. The European Central
Bank, the Reserve Bank of New Zealand and South Africa's central
bank raised interest rates this week.
Read more at Bloomberg Commodities News
3.5 percent, the most in two weeks, on expectations that rising
borrowing costs in major economies will slow growth and limit
demand for metals.
Copper, which generally moves in tandem with economic
expansion, has gained 13 percent this year. The U.S. Federal
Reserve is unlikely to cut interest rates before 2008, according
to a Bloomberg survey. Economists last month forecast a 25
basis-point cut in the fourth quarter. The European Central
Bank, the Reserve Bank of New Zealand and South Africa's central
bank raised interest rates this week.
Read more at Bloomberg Commodities News
CORRECTED - US lawmakers urge Colombia trade vote delay
(Reuters) - WASHINGTON, June 7 - Congress should delay voting
on a free-trade agreement with Colombia until President Alvaro
Uribe proves he is serious about reducing violence and jailing
murderers of trade unionists, congressional opponents of the
deal said on Thursday.
The demand came as Uribe was making his second visit to
Washington in five weeks to lobby for approval of the pact and
reassure Democrats who want to redirect and reduce U.S.
anti-drug and military aid Colombia relies on to fight
guerrillas and cocaine.
Read more at Reuters.com Bonds News
on a free-trade agreement with Colombia until President Alvaro
Uribe proves he is serious about reducing violence and jailing
murderers of trade unionists, congressional opponents of the
deal said on Thursday.
The demand came as Uribe was making his second visit to
Washington in five weeks to lobby for approval of the pact and
reassure Democrats who want to redirect and reduce U.S.
anti-drug and military aid Colombia relies on to fight
guerrillas and cocaine.
Read more at Reuters.com Bonds News
AIG to take steps to assist nonprime borrowers
(Reuters) - AIG's agreement with the Office of Thrift Supervision covers mortgages made by one of its units -- Wilmington Finance Inc. -- between July 2003 and May 2006.
The OTS said the AIG unit responsible for Wilmington Finance "failed to manage and control the mortgage lending activities outsourced to WFI in a safe and sound manner," but had taken steps to improve.
Read more at Reuters.com Business News
The OTS said the AIG unit responsible for Wilmington Finance "failed to manage and control the mortgage lending activities outsourced to WFI in a safe and sound manner," but had taken steps to improve.
Read more at Reuters.com Business News
Bank, Insurer Borrowing Costs Soar, Reaching Six-Month High in Europe
(Bloomberg) -- Borrowing costs of banks and
financial companies in Europe including Barclays Plc and Munich
Re rose to the highest since December after a surge in yields on
government securities and a decline in stocks this week.
The yield premium, or spread, that investors demand to hold
subordinated debt of banks and insurers instead of government
bonds increased this week by the most in three months, according
to Merrill Lynch & Co. indexes. The spread on Munich Re's 1.5
billion euros of 5.767 percent bonds due 2049 widened 8 basis
points to 137 basis points since the world's second-biggest
reinsurer issued the securities on June 5.
Read more at Bloomberg Bonds News
financial companies in Europe including Barclays Plc and Munich
Re rose to the highest since December after a surge in yields on
government securities and a decline in stocks this week.
The yield premium, or spread, that investors demand to hold
subordinated debt of banks and insurers instead of government
bonds increased this week by the most in three months, according
to Merrill Lynch & Co. indexes. The spread on Munich Re's 1.5
billion euros of 5.767 percent bonds due 2049 widened 8 basis
points to 137 basis points since the world's second-biggest
reinsurer issued the securities on June 5.
Read more at Bloomberg Bonds News
Canada Dollar Gains on Larger-Than-Expected Trade Surplus, Employment Data
(Bloomberg) -- The Canadian dollar gained for the
second time in three days after a report showed the nation's
trade surplus in April widened more than analysts forecast.
The currency reversed an early decline as a separate report
showed employers added fewer jobs last month than economists
expected. The currency's gains were limited amid a broad rally
in the U.S. dollar triggered by climbing U.S. Treasury yields.
Read more at Bloomberg Currencies News
second time in three days after a report showed the nation's
trade surplus in April widened more than analysts forecast.
The currency reversed an early decline as a separate report
showed employers added fewer jobs last month than economists
expected. The currency's gains were limited amid a broad rally
in the U.S. dollar triggered by climbing U.S. Treasury yields.
Read more at Bloomberg Currencies News
Nymex Natural-Gas Price Falls for Second Day as Weather Concern Relaxes
(Bloomberg) -- Natural gas in New York fell for a
second day as the current flow of gas into storage would push
stockpiles to a record at the start of next winter when demand
surges to run furnaces.
Supplies rose 110 billion cubic feet last week, the U.S.
Energy Department said in a report released yesterday. The
increase, higher than the five-year average for the third
consecutive week, was ahead of analyst expectations. A Bloomberg
survey of 25 analysts estimated inventories would expand by 105
billion cubic feet.
Read more at Bloomberg Energy News
second day as the current flow of gas into storage would push
stockpiles to a record at the start of next winter when demand
surges to run furnaces.
Supplies rose 110 billion cubic feet last week, the U.S.
Energy Department said in a report released yesterday. The
increase, higher than the five-year average for the third
consecutive week, was ahead of analyst expectations. A Bloomberg
survey of 25 analysts estimated inventories would expand by 105
billion cubic feet.
Read more at Bloomberg Energy News
CORRECTED-(OFFICIAL)-Freddie Mac to return to regular filings
(Reuters) - "Next week, for the first time, we will return to timely
quarterly reporting," said Richard Syron, the chairman and
chief executive of Freddie Mac.
A spokesman said Syron meant to indicate the company was
now in position to begin issuing quarterly statements on a
regular basis.
Read more at Reuters.com Bonds News
quarterly reporting," said Richard Syron, the chairman and
chief executive of Freddie Mac.
A spokesman said Syron meant to indicate the company was
now in position to begin issuing quarterly statements on a
regular basis.
Read more at Reuters.com Bonds News
US junk bond funds report $167 mln net inflow -AMG
(Reuters) - Funds reporting monthly saw a $1.07 billion net inflow for
the month ended Wednesday, pushing total net inflows
year-to-date to nearly $5.5 billion.
Junk bonds, which are rated below investment grade because
of their default risks, had performed well this year before
rising interest rates sparked a sell-off of risky assets this
month.
Read more at Reuters.com Bonds News
the month ended Wednesday, pushing total net inflows
year-to-date to nearly $5.5 billion.
Junk bonds, which are rated below investment grade because
of their default risks, had performed well this year before
rising interest rates sparked a sell-off of risky assets this
month.
Read more at Reuters.com Bonds News
Nymex Gasoline Futures Fall to Lowest in Six Weeks as Inventories Increase
(Bloomberg) -- Natural gas in New York fell for a
second day as the current flow of gas into storage would push
stockpiles to a record at the start of next winter when demand
surges to run furnaces.
Supplies rose 110 billion cubic feet last week, the U.S.
Energy Department said in a report released yesterday. The
increase, higher than the five-year average for the third
consecutive week, was ahead of analyst expectations. A Bloomberg
survey of 25 analysts estimated inventories would expand by 105
billion cubic feet.
Read more at Bloomberg Energy News
second day as the current flow of gas into storage would push
stockpiles to a record at the start of next winter when demand
surges to run furnaces.
Supplies rose 110 billion cubic feet last week, the U.S.
Energy Department said in a report released yesterday. The
increase, higher than the five-year average for the third
consecutive week, was ahead of analyst expectations. A Bloomberg
survey of 25 analysts estimated inventories would expand by 105
billion cubic feet.
Read more at Bloomberg Energy News
Russian Stocks Decline for Third Day, Led by Gazprom, Sberbank Shares
(Bloomberg) -- Russian stocks fell for a third day
as rising bond yields weighed on the market. OAO Gazprom and OAO
Sberbank paced the retreat.
The ruble-denominated Micex Index dropped 0.9 percent to
1573.00 at 2:40 p.m. in Moscow. The dollar-denominated RTS Index
lost 1.1 percent to 1783.45.
Read more at Bloomberg Stocks News
as rising bond yields weighed on the market. OAO Gazprom and OAO
Sberbank paced the retreat.
The ruble-denominated Micex Index dropped 0.9 percent to
1573.00 at 2:40 p.m. in Moscow. The dollar-denominated RTS Index
lost 1.1 percent to 1783.45.
Read more at Bloomberg Stocks News
Penn Treaty says unit suspended from doing business in Florida
(Reuters) - Florida sales represented about 6 percent of its new
business application for the first five months of 2007. The
company estimates the amount to be immaterial to its
anticipated financial performance, it said.
Read more at Reuters.com Government Filings News
business application for the first five months of 2007. The
company estimates the amount to be immaterial to its
anticipated financial performance, it said.
Read more at Reuters.com Government Filings News
SEC Plans to Fine Nortel in First Test of Enforcement Policy, People Say
(Bloomberg) -- The U.S. Securities and Exchange
Commission plans to fine Nortel Networks Corp. for accounting
fraud in the first test of a policy that gives the agency's
commissioners more say in corporate penalties, four people with
direct knowledge of the matter said.
SEC attorneys got the commissioners' approval last month to
seek a fine of less than $100 million from Nortel, North
America's largest telephone-equipment maker, according to one of
the people, who declined to be identified because the decision
isn't public. Staff lawyers previously could negotiate
settlements without having to obtain permission in advance.
Read more at Bloomberg Exclusive News
Commission plans to fine Nortel Networks Corp. for accounting
fraud in the first test of a policy that gives the agency's
commissioners more say in corporate penalties, four people with
direct knowledge of the matter said.
SEC attorneys got the commissioners' approval last month to
seek a fine of less than $100 million from Nortel, North
America's largest telephone-equipment maker, according to one of
the people, who declined to be identified because the decision
isn't public. Staff lawyers previously could negotiate
settlements without having to obtain permission in advance.
Read more at Bloomberg Exclusive News
UPDATE 1-Urban strength boosts Canada May housing starts
(Reuters) - The number of starts rose to a seasonally adjusted
annualized rate of 229,700 units from 211,900 units in April.
The consensus expectation of analysts was for 215,000 starts.
Urban multiple starts climbed 16.3 percent to 110,100
units, while urban single-family dwellings edged up 2.8 percent
to 86,700 units.
Read more at Reuters.com Economic News
annualized rate of 229,700 units from 211,900 units in April.
The consensus expectation of analysts was for 215,000 starts.
Urban multiple starts climbed 16.3 percent to 110,100
units, while urban single-family dwellings edged up 2.8 percent
to 86,700 units.
Read more at Reuters.com Economic News
Fed's Moskow says inflation expectations contained
(Reuters) - Moskow said growth in the current quarter should be much stronger than the first quarter and that the U.S. economy should recover to trend growth later this year.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
UPDATE 1-Marriott to pay $220 mln in tax settlement
(Reuters) - The charge was not included in Marriott's second-quarter
earnings guidance, the company said.
In April, the top U.S. hotel company had forecast
second-quarter earnings, excluding its synthetic fuel
operations, of 51 cents to 55 cents per share.
Read more at Reuters.com Government Filings News
earnings guidance, the company said.
In April, the top U.S. hotel company had forecast
second-quarter earnings, excluding its synthetic fuel
operations, of 51 cents to 55 cents per share.
Read more at Reuters.com Government Filings News
U.S. Stock-Index Futures Drop on Rising Treasuries Yields; Citigroup Falls
(Bloomberg) -- U.S. stock-index futures slid after
yields on U.S. Treasuries reached their highest since May 2002,
indicating investors are raising bets interest rates will
increase.
Citigroup Inc., the biggest U.S. bank, and Goldman Sachs
Group Inc., the world's largest securities firm by market value,
led declines in Europe.
Read more at Bloomberg Stocks News
yields on U.S. Treasuries reached their highest since May 2002,
indicating investors are raising bets interest rates will
increase.
Citigroup Inc., the biggest U.S. bank, and Goldman Sachs
Group Inc., the world's largest securities firm by market value,
led declines in Europe.
Read more at Bloomberg Stocks News
Ivory Coast Raises Cocoa Production Forecast by 3.7 Percent, Ministry Says
(Bloomberg) -- Ivory Coast, the world's biggest
cocoa grower, increased its forecast for this year's harvest of
the chocolate ingredient by 3.7 percent, the Economy and Finance
Ministry said.
Cocoa production may be 1.40 million metric tons in the
year to Dec. 31, up from a previous estimate of 1.35 million
tons, according to a document handed to Bloomberg News yesterday
by a ministry official who asked not to be identified. The west
African nation produced 1.36 million tons of cocoa last year.
Read more at Bloomberg Commodities News
cocoa grower, increased its forecast for this year's harvest of
the chocolate ingredient by 3.7 percent, the Economy and Finance
Ministry said.
Cocoa production may be 1.40 million metric tons in the
year to Dec. 31, up from a previous estimate of 1.35 million
tons, according to a document handed to Bloomberg News yesterday
by a ministry official who asked not to be identified. The west
African nation produced 1.36 million tons of cocoa last year.
Read more at Bloomberg Commodities News
EDF Rates May 21 Incident at Tricastin Nuclear Reactor as Level 1 on INES
(Bloomberg) -- Electricite de France SA, Europe's
biggest power generator, classified a May 21 incident at its
Tricastin nuclear power plant in the south of France as a Level
1 occurrence on the international safety scale.
The incident involved alarm systems triggered during the
restart of the plant's Unit 3, EDF said in a statement today.
Read more at Bloomberg Energy News
biggest power generator, classified a May 21 incident at its
Tricastin nuclear power plant in the south of France as a Level
1 occurrence on the international safety scale.
The incident involved alarm systems triggered during the
restart of the plant's Unit 3, EDF said in a statement today.
Read more at Bloomberg Energy News
U.K. Working-Day Power Falls as Forecasts Show Demand May Drop Next Week
(Bloomberg) -- U.K. power for delivery on the next
working day declined as forecasts showed demand may fall and
spare capacity may rise after the weekend. The contract
maintained a premium over rising French prices.
Working-day-ahead baseload electricity for delivery in
Britain declined 2.1 percent to 25.20 pounds ($49.66) a
megawatt-hour, from a last trade yesterday of 25.75 pounds a
megawatt-hour for delivery today. The average working-day price
this week was 22.75 pounds a megawatt-hour.
Read more at Bloomberg Energy News
working day declined as forecasts showed demand may fall and
spare capacity may rise after the weekend. The contract
maintained a premium over rising French prices.
Working-day-ahead baseload electricity for delivery in
Britain declined 2.1 percent to 25.20 pounds ($49.66) a
megawatt-hour, from a last trade yesterday of 25.75 pounds a
megawatt-hour for delivery today. The average working-day price
this week was 22.75 pounds a megawatt-hour.
Read more at Bloomberg Energy News
SocGen seen mulling linkup with rival BNP
(Reuters) - Les Echos said SocGen head Daniel Bouton had hired investment banks to advise on a tie-up with BNP which could create a combined group ranking first in France by market value and third in Europe as a whole.
The deal could shield SocGen from any unwanted approach from other European suitors but would threaten extensive job cuts due to the overlapping branch networks of the two lenders, making it potentially politically controversial.
Read more at Reuters.com Mergers News
The deal could shield SocGen from any unwanted approach from other European suitors but would threaten extensive job cuts due to the overlapping branch networks of the two lenders, making it potentially politically controversial.
Read more at Reuters.com Mergers News
Electricite de France Auctions Electricity Before Market Opens on July 1
(Bloomberg) -- Electricite de France SA, Europe's
largest power generator, sold French power for delivery in the
second half of the year in an auction, before the market opens to
competition for domestic customers July 1.
In the June 6 auction, which included contracts for up to
three years from July, October or November, EDF sold 35 megawatts
of baseload power starting July 1 at an average 43.37 euros
($58.12) a megawatt-hour, it said in a statement on its Web site.
Read more at Bloomberg Energy News
largest power generator, sold French power for delivery in the
second half of the year in an auction, before the market opens to
competition for domestic customers July 1.
In the June 6 auction, which included contracts for up to
three years from July, October or November, EDF sold 35 megawatts
of baseload power starting July 1 at an average 43.37 euros
($58.12) a megawatt-hour, it said in a statement on its Web site.
Read more at Bloomberg Energy News
Gold hits 1-week low on dollar, TOCOM limit down
(Reuters) - The key gold futures for April 2008 delivery on the Tokyo Commodity Exchange sank by their daily 60-yen a gram limit, or 2.3 percent, to 2,592 yen.
The last time a benchmark contract closed limit down was on March 5, when then benchmark February 2008 sank by the daily 90-yen limit to 2,432 yen
Read more at Reuters.com Hot Stocks News
The last time a benchmark contract closed limit down was on March 5, when then benchmark February 2008 sank by the daily 90-yen limit to 2,432 yen
Read more at Reuters.com Hot Stocks News
S.African stocks slide after losses in Asia, US
(Reuters) - South African stocks slid at the opening on Friday after U.S. and Asian bourses were hit by fears that global inflation would push up borrowing costs.
The blue chip Top-40 index fell 1.2 percent to 25,342.04 points by 0727 GMT after sliding by as much as 1.6 percent earlier. The index is up 12 percent so far this year.
Read more at Reuters Africa
The blue chip Top-40 index fell 1.2 percent to 25,342.04 points by 0727 GMT after sliding by as much as 1.6 percent earlier. The index is up 12 percent so far this year.
Read more at Reuters Africa
Rand steady, bonds weaker on US treasuries
(Reuters) - South Africa's rand opened steady on Friday after falling sharply against the dollar in overnight trade as the U.S. currency gained on the back of a sell-off in Treasuries.
The rand was trading at 7.27 versus the dollar at 0700 GMT, not far off its New York close of 7.2820 on Thursday, after dipping to 7.29/dollar, its worst level since March 30.
Read more at Reuters Africa
The rand was trading at 7.27 versus the dollar at 0700 GMT, not far off its New York close of 7.2820 on Thursday, after dipping to 7.29/dollar, its worst level since March 30.
Read more at Reuters Africa
Haihua Group Says to Own a Majority Stake in Carlyle Group Joint Venture
(Bloomberg) -- Shandong Haihua Co., a Chinese
company that makes soda ash and other chemicals, said its parent
Shandong Haihua Group will own the majority stake in a venture
with Carlyle Group. Its shares surged 10 percent.
State-owned Haihua Group will contribute assets including
its own shares while Carlyle will put up cash, Shandong Haihua
said today in a statement to the Shenzhen Stock Exchange,
without providing financial or production details of the venture.
Haihua, based in Weifang city in eastern China's Shandong
province, signed an initial memorandum for the venture that's
effective until July 5, according to the statement, which didn't
elaborate.
Read more at Bloomberg Emerging Markets News
company that makes soda ash and other chemicals, said its parent
Shandong Haihua Group will own the majority stake in a venture
with Carlyle Group. Its shares surged 10 percent.
State-owned Haihua Group will contribute assets including
its own shares while Carlyle will put up cash, Shandong Haihua
said today in a statement to the Shenzhen Stock Exchange,
without providing financial or production details of the venture.
Haihua, based in Weifang city in eastern China's Shandong
province, signed an initial memorandum for the venture that's
effective until July 5, according to the statement, which didn't
elaborate.
Read more at Bloomberg Emerging Markets News
Subscribe to:
Posts (Atom)