Publicis shares down, Q1 sales disappoint

(Reuters) - PARIS, May 3 - France's Publicis Groupe on Thursday, driven by client gains.

Publicis, the world's fourth largest advertising group, also confirmed a target for 2007 underlying sales growth of around 5 percent and for an operating margin of 16.7 percent in 2008.


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Citigroup Gets Record $12 Billion Loan to Fund Nikko Purchase, Bankers Say

(Bloomberg) -- Citigroup Inc. borrowed 1.45 trillion yen ($12 billion) in Japan's largest syndicated loan to fund its purchase of Nikko Cordial Corp., said two bankers who were involved in the transaction.

Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., the three largest banks in Japan, provided almost half of the financing, the bankers said, asking not to be identified before an announcement. Citigroup last week paid 920 billion yen to build a 61 percent stake in Tokyo-based Nikko, Japan's third-largest securities firm.


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Record Electricity Prices for Europe Predicted on Anticipated Heat Wave

(Bloomberg) -- Electricity prices may reach record highs in Europe as forecasters predict a second straight summer of soaring temperatures.

``The chances are we will see significant increases in prices,'' Kim Keats, head of power and fuels at ICF International Inc. in London, said in an interview. ``Forward prices will take this into account.''


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Madison Dearborn to buy VWR International

(Reuters) - By Michael Flaherty

NEW YORK, May 2 - U.S. laboratory supply company VWR International Inc. said on Wednesday it agreed to be bought by private equity firm Madison Dearborn Partners.


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Commonwealth Bank Says Copper Price May Drop 30 Percent by End of Year

(Bloomberg) -- Copper prices may fall about 30 percent by the end of the year as demand lags behind supply following a slowdown in the U.S. housing sector, according to the Commonwealth Bank of Australia.

Copper may drop to $5,500 a metric ton by December and average $6,220 a ton this year, David Moore, commodity strategist at the Sydney-based bank said in comments e-mailed to Bloomberg. Copper for delivery in three months on the London Metal Exchange rose $30, or 0.4 percent, to $7,985 a ton at 5:16 a.m. local time.


Read more at Bloomberg Commodities News

Sanofi Q1 net falls on lack of 2006 gains

(Reuters) - The group raised its full-year outlook, predicting adjusted earnings per share growth, excluding selected items, of 9 percent compared with a previous forecast of 6 percent, barring major adverse events and calculated using a euro/dollar exchange rate of $1.25 compared with the actual $1.36


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Pardus denies it want Valeo-Visteon link up

(Reuters) - "Valeo management continues to misstate Pardus' strategic view by feeding rumours and allegations that Pardus strategy is a link-up with Visteon."

The fund said it had watered down an original proposal to name two Pardus representatives and six independent directors to the Valeo board to two representatives and one independent director. It repeated its was willing to agree a standstill agreement at 20 percent share ownership.


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