(Reuters) - On closing of the deal, 21st Century will become a wholly owned subsidiary of AIG.
Read more at Reuters.com Mergers News
Tuesday, May 15, 2007
European Stocks Decline; Nestle, Unilever and Rio Tinto Shares Lead Drop
(Bloomberg) -- European stocks dropped, led by Nestle SA, Unilever NV and Rio Tinto Group.
The Dow Jones Stoxx 600 declined 1.32, or 0.3 percent, to 387.64 as of 12:05 p.m. in London after gaining as much as 0.1 percent. The Stoxx 50 lost 0.5 percent and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, slid 0.4 percent.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 declined 1.32, or 0.3 percent, to 387.64 as of 12:05 p.m. in London after gaining as much as 0.1 percent. The Stoxx 50 lost 0.5 percent and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, slid 0.4 percent.
Read more at Bloomberg Stocks News
Anglo American's Carroll Aims to Target China, Complete Trahar's Overhaul
(Bloomberg) -- Anglo American Plc, the world's second- largest mining company, expects to have largely completed by year- end an overhaul to focus on the metals demanded by China's expanding economy, Chief Executive Officer Cynthia Carroll said.
The plan aims to concentrate output on iron ore, copper, nickel, platinum, diamonds, coal, and zinc, Carroll said yesterday in an interview in Rio de Janeiro. The company is spending $7 billion on existing mines, and is studying as much as $15 billion of new projects, she said.
Read more at Bloomberg Emerging Markets News
The plan aims to concentrate output on iron ore, copper, nickel, platinum, diamonds, coal, and zinc, Carroll said yesterday in an interview in Rio de Janeiro. The company is spending $7 billion on existing mines, and is studying as much as $15 billion of new projects, she said.
Read more at Bloomberg Emerging Markets News
U.S. Stock-Index Futures Decline; Citigroup, Wal-Mart, Home Depot Fall
(Bloomberg) -- U.S. stock-index futures fell after Wal-Mart Stores Inc. forecast earnings that trailed analysts' estimates, adding to concerns inflation data today will keep the Federal Reserve from cutting interest rates as the economy weakens.
``We don't see a rate cut happening this year because inflation is there in the background,'' said Kevin Lyne-Smith, who helps oversee $100 billion as managing director at Julius Baer Holding AG's private-banking division in Zurich. ``We are underweight U.S. stocks. The economic slowdown is happening.''
Read more at Bloomberg Stocks News
``We don't see a rate cut happening this year because inflation is there in the background,'' said Kevin Lyne-Smith, who helps oversee $100 billion as managing director at Julius Baer Holding AG's private-banking division in Zurich. ``We are underweight U.S. stocks. The economic slowdown is happening.''
Read more at Bloomberg Stocks News
FACTBOX: Key facts about Thomson, which is to buy Reuters
(Reuters) - --Thomson had 639.78 million shares outstanding as of April 30, according to Reuters Knowledge, giving it a market capitalization of about $30 billion at latest prices. It is listed on the Toronto and New York stock exchanges.
--Thomson provides data, news, software and other applications in the fields of law, tax, financial services, research and health care. It competes with Reuters, and with Bloomberg LP, in providing information to financial markets.
Read more at Reuters.com Business News
--Thomson provides data, news, software and other applications in the fields of law, tax, financial services, research and health care. It competes with Reuters, and with Bloomberg LP, in providing information to financial markets.
Read more at Reuters.com Business News
Merrill launches new team for ultra-rich in Asia
(Reuters) - Bonnie Haddon-Cave will be chief operating officer of PIBG, while Joseph Lam and Vincent Shen will be private investment bankers.
Merrill is tapping a team of 11 senior investment bankers, including recently hired China specialist Margaret Ren and Indonesia investment banking head Roger Suyama, to work closely with Lam and Shen's teams.
Read more at Reuters.com Business News
Merrill is tapping a team of 11 senior investment bankers, including recently hired China specialist Margaret Ren and Indonesia investment banking head Roger Suyama, to work closely with Lam and Shen's teams.
Read more at Reuters.com Business News
Copper Gains in London as Chinese Imports Increase; Aluminum and Zinc Fall
(Bloomberg) -- Copper rose the most in six days in London after imports into China, the world's biggest user of the metal, jumped 61 percent in the first four months of the year. Aluminum and zinc declined.
China's imports of copper and copper products from January through April were 1.1 million metric tons, according to preliminary customs data issued today. Imports were 304,672 tons in April alone, compared with a record 307,740 tons in March and 180,980 tons a year ago.
Read more at Bloomberg Commodities News
China's imports of copper and copper products from January through April were 1.1 million metric tons, according to preliminary customs data issued today. Imports were 304,672 tons in April alone, compared with a record 307,740 tons in March and 180,980 tons a year ago.
Read more at Bloomberg Commodities News
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