(Reuters) - Net sales rose to $578.9 million from $546.0 million.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Wednesday, 30 May 2007
Apple says YouTube to be available on Apple TV
(Reuters) - Apple TV works with iTunes to play users' content -- video, movies, television shows and the like -- wireless on a wide-screen television.
"YouTube is a worldwide sensation, and Apple TV is bringing it directly from the Internet onto the widescreen TV in your living room," said Apple Chief Executive Steve Jobs in a statement.
Read more at Reuters.com Business News
"YouTube is a worldwide sensation, and Apple TV is bringing it directly from the Internet onto the widescreen TV in your living room," said Apple Chief Executive Steve Jobs in a statement.
Read more at Reuters.com Business News
CACI says to buy Wexford, no terms announced
(Reuters) - CACI did not disclose terms of the deal, which is set to close before the end of June. It said Wexford's projected annual revenue of about $100 million for this year would add to earnings in CACI's 2008 fiscal year.
) Keywords: WEXFORD CACI/
Read more at Reuters.com Mergers News
) Keywords: WEXFORD CACI/
Read more at Reuters.com Mergers News
UPDATE 2-Argentina gas exports resume to central Chile
(Reuters) - Argentina reopened the natural gas taps after a cold front
on Monday prompted it to completely cut natural gas exports to
central Chile, where the capital, Santiago, is located, forcing
the Andean neighbor to resort to other fuels for industry.
"There is enough arriving to cover commercial
and residential gas needs," Chile Energy Minister Marcelo
Tokman told journalists in Santiago on Wednesday.
Read more at Reuters.com Market News
on Monday prompted it to completely cut natural gas exports to
central Chile, where the capital, Santiago, is located, forcing
the Andean neighbor to resort to other fuels for industry.
"There is enough arriving to cover commercial
and residential gas needs," Chile Energy Minister Marcelo
Tokman told journalists in Santiago on Wednesday.
Read more at Reuters.com Market News
Brazil supports Zoellick's World Bank nomination
(Reuters) - But Finance Minister Guido Mantega said Brazil, with the largest economy in Latin America, still would like to see changes in the selection process for the leadership of the World Bank and International Monetary Fund.
U.S. President George W. Bush nominated Zoellick to be the new World Bank president earlier on Wednesday, replacing Paul Wolfowitz, who is stepping down over a favoritism scandal.
Read more at Reuters.com Bonds News
U.S. President George W. Bush nominated Zoellick to be the new World Bank president earlier on Wednesday, replacing Paul Wolfowitz, who is stepping down over a favoritism scandal.
Read more at Reuters.com Bonds News
AT&T says doesn't need to own satellite TV operators
(Reuters) - Asked about possible mergers and acquisitions, Stephenson said
the "big pieces are in place" domestically, but there could be
such opportunities overseas or in the enterprise segment.
Stephenson spoke at a Sanford Bernstein conference.
Read more at Reuters.com Mergers News
the "big pieces are in place" domestically, but there could be
such opportunities overseas or in the enterprise segment.
Stephenson spoke at a Sanford Bernstein conference.
Read more at Reuters.com Mergers News
Platinum Futures Fall to Eight-Week Low as Dollar Strengthens Against Euro
(Bloomberg) -- Platinum fell to an eight-week low in
New York amid expectations that recent gains in the dollar
against the euro will cut demand for the precious metal as an
alternative investment. Palladium also declined.
The U.S. currency has gained about 2 percent versus the euro
since touching a record low on April 27. Platinum, traded mostly
in dollars, fell today for the fourth consecutive session,
decreasing 3.3 percent.
Read more at Bloomberg Commodities News
New York amid expectations that recent gains in the dollar
against the euro will cut demand for the precious metal as an
alternative investment. Palladium also declined.
The U.S. currency has gained about 2 percent versus the euro
since touching a record low on April 27. Platinum, traded mostly
in dollars, fell today for the fourth consecutive session,
decreasing 3.3 percent.
Read more at Bloomberg Commodities News
KKR Seeks Record $16 Billion of Covenant-Lite Loans to Buy First Data
(Bloomberg) -- Kohlberg Kravis Roberts & Co. will
seek a record $16 billion of so-called covenant-lite loans to
help fund its buyout of First Data Corp., the world's largest
processor of credit-card payments.
Banks led by Credit Suisse Group agreed to provide a $14
billion seven-year term loan and a $2 billion six-year revolving
credit facility, Greenwood Village, Colorado-based First Data
said in a Securities and Exchange Commission filing yesterday.
The covenant-lite term loan would be the largest of its type.
Read more at Bloomberg Bonds News
seek a record $16 billion of so-called covenant-lite loans to
help fund its buyout of First Data Corp., the world's largest
processor of credit-card payments.
Banks led by Credit Suisse Group agreed to provide a $14
billion seven-year term loan and a $2 billion six-year revolving
credit facility, Greenwood Village, Colorado-based First Data
said in a Securities and Exchange Commission filing yesterday.
The covenant-lite term loan would be the largest of its type.
Read more at Bloomberg Bonds News
RBC Capital Markets says C$ to top 96 U.S. cents
(Reuters) - According to an RBC Capital Markets note on Wednesday, the
Canadian currency will reach C$1.04 to the U.S. dollar, or
96.15 U.S. cents, in the third quarter, up from its previous
forecast of C$1.08, or 92.59 U.S. cents.
The revised forecast by RBC was triggered by a Bank of
Canada statement on Tuesday that signaled an increase in
interest rates in the near term and triggered a rise in the
Canadian dollar to C$1.0688, or 93.56 U.S. cents.
Read more at Reuters.com Bonds News
Canadian currency will reach C$1.04 to the U.S. dollar, or
96.15 U.S. cents, in the third quarter, up from its previous
forecast of C$1.08, or 92.59 U.S. cents.
The revised forecast by RBC was triggered by a Bank of
Canada statement on Tuesday that signaled an increase in
interest rates in the near term and triggered a rise in the
Canadian dollar to C$1.0688, or 93.56 U.S. cents.
Read more at Reuters.com Bonds News
Biogen, Novacea, Powell Industries, Taser, Joy Global: 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 1:10 p.m. New York time.
Biogen Idec Inc. (BIIB US) rose $2.71, or 5.5 percent, to
$51.92 and traded as high as $52.26. The maker of the multiple
sclerosis drug Tysabri began accepting bids in a buyback of as
much as $3 billion in shares. The buyback, which will give Biogen
an additional 16 percent of its 342.6 million shares outstanding,
will be funded by cash and borrowings, Biogen said. The company
will pay stockholders between $47 and $53 a share in the so-
called Dutch Auction.
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 1:10 p.m. New York time.
Biogen Idec Inc. (BIIB US) rose $2.71, or 5.5 percent, to
$51.92 and traded as high as $52.26. The maker of the multiple
sclerosis drug Tysabri began accepting bids in a buyback of as
much as $3 billion in shares. The buyback, which will give Biogen
an additional 16 percent of its 342.6 million shares outstanding,
will be funded by cash and borrowings, Biogen said. The company
will pay stockholders between $47 and $53 a share in the so-
called Dutch Auction.
Read more at Bloomberg Stocks News
CNBC reports "unusual trading" in own contest
(Reuters) - "CNBC has been contacted by several contestants alleging unusual trading in violation of contest rules among some of the 20 finalists," the cable news network said in a statement.
"Once these questions were raised, CNBC immediately launched a thorough investigation to determine who may have violated the rules," it added.
Read more at Reuters.com Business News
"Once these questions were raised, CNBC immediately launched a thorough investigation to determine who may have violated the rules," it added.
Read more at Reuters.com Business News
Brazil's Stocks Fall After Selloff in China, Led by Usiminas; Walmex Gains
(Bloomberg) -- Brazil's stock index fell for a second
day after a plunge in Chinese shares raised concern that slower
growth will curtail demand for Brazilian exports.
The Bovespa index of the most-traded stocks on the Sao Paulo
exchange fell 504.26, or 1 percent, to 51,208.92 at 11:16 a.m. New
York time. China yesterday tripled the tax on security transactions
sending the Chinese benchmark down 6.8 percent.
Read more at Bloomberg Stocks News
day after a plunge in Chinese shares raised concern that slower
growth will curtail demand for Brazilian exports.
The Bovespa index of the most-traded stocks on the Sao Paulo
exchange fell 504.26, or 1 percent, to 51,208.92 at 11:16 a.m. New
York time. China yesterday tripled the tax on security transactions
sending the Chinese benchmark down 6.8 percent.
Read more at Bloomberg Stocks News
AT&T's new CEO is open to overseas acquisitions
(Reuters) - Chief Operating Officer Randall Stephenson, who will become CEO when Ed Whitacre retires on June 3, said AT&T already had what it needed to compete domestically, signaling that a major acquisition in the United States could be unlikely.
"Internationally there might be opportunistic opportunities over time that will enhance our international product set and capabilities," he told a Lehman Brothers conference.
Read more at Reuters.com Mergers News
"Internationally there might be opportunistic opportunities over time that will enhance our international product set and capabilities," he told a Lehman Brothers conference.
Read more at Reuters.com Mergers News
Germany May Sell First 30-Year Inflation Bond This Year, Debt Agency Says
(Bloomberg) -- Germany may sell its first 30-year
inflation-linked bond this year, said the head of the Federal
Finance Agency that manages the sales.
The federal government may authorize selling as much as 2
billion euros ($2.7 billion) in the 30-year debt, Managing
Director Gerhard Schleif said in an interview. Alternatively, the
agency could sell its first inflation bond with a 5-year maturity.
Read more at Bloomberg Bonds News
inflation-linked bond this year, said the head of the Federal
Finance Agency that manages the sales.
The federal government may authorize selling as much as 2
billion euros ($2.7 billion) in the 30-year debt, Managing
Director Gerhard Schleif said in an interview. Alternatively, the
agency could sell its first inflation bond with a 5-year maturity.
Read more at Bloomberg Bonds News
UPDATE 1-Energy, metals boost Canada April factory prices
(Reuters) - Analysts had expected factory prices to climb 0.3 percent
in April, according to a Reuters survey.
Raw materials prices jumped 3.3 percent in April, which
Statscan attributed to gains in mineral fuels and non-ferrous
metals.
Read more at Reuters.com Economic News
in April, according to a Reuters survey.
Raw materials prices jumped 3.3 percent in April, which
Statscan attributed to gains in mineral fuels and non-ferrous
metals.
Read more at Reuters.com Economic News
Gold firm, but investors cautious ahead of U.S. data
(Reuters) - Spot gold was at 0955 GMT up at $656.50/657.45 a troy ounce from $655.95/656.45 an ounce late in New York on Tuesday. The metal earlier hit a session high of $658.80, more than $7 above last Thursday's nine-week low of $651.30.
Minutes from the Federal Reserve's May 9 meeting are due later on Wednesday. Investors will be watching Thursday's first quarter gross domestic product growth numbers and Friday's non-farm payrolls data -- a key gauge of the economic health.
Read more at Reuters.com Hot Stocks News
Minutes from the Federal Reserve's May 9 meeting are due later on Wednesday. Investors will be watching Thursday's first quarter gross domestic product growth numbers and Friday's non-farm payrolls data -- a key gauge of the economic health.
Read more at Reuters.com Hot Stocks News
Subprime Fiasco Exposes Manipulation by American Mortgage Broker Industry
(Bloomberg) -- Taher Afghani was working for discount
retailer Target Corp. near San Francisco when friends told him about
the riches to be made in California's Mortgage Alley.
It was 2004, and the U.S. real estate market was on fire. Down
in Southern California, a hub for lenders specializing in loans to
people with weak, or subprime, credit, Afghani's pals were making a
fortune pushing risky mortgages on homebuyers. After tagging along
with a buddy on a company trip to Los Cabos, Mexico, Afghani quit
Target, headed south and began hustling loans at Costa Mesa-based
Secured Funding Corp.
Read more at Bloomberg Exclusive News
retailer Target Corp. near San Francisco when friends told him about
the riches to be made in California's Mortgage Alley.
It was 2004, and the U.S. real estate market was on fire. Down
in Southern California, a hub for lenders specializing in loans to
people with weak, or subprime, credit, Afghani's pals were making a
fortune pushing risky mortgages on homebuyers. After tagging along
with a buddy on a company trip to Los Cabos, Mexico, Afghani quit
Target, headed south and began hustling loans at Costa Mesa-based
Secured Funding Corp.
Read more at Bloomberg Exclusive News
TREASURIES-Bond prices rise on weak stocks, jobs data
(Reuters) - NEW YORK, May 30 - U.S. government bond prices
gained on Wednesday from a safe-haven bid sparked by falling
global equities and helped by a weak report on private sector
jobs.
Treasuries gained along with euro-zone sovereign debt as
Chinese stocks tumbled 6 percent after Beijing increased taxes
on stock trading in a move to cool surging domestic equity
prices. U.S. stock index futures also pointed to a lower open
for Wall Street.
Read more at Reuters.com Bonds News
gained on Wednesday from a safe-haven bid sparked by falling
global equities and helped by a weak report on private sector
jobs.
Treasuries gained along with euro-zone sovereign debt as
Chinese stocks tumbled 6 percent after Beijing increased taxes
on stock trading in a move to cool surging domestic equity
prices. U.S. stock index futures also pointed to a lower open
for Wall Street.
Read more at Reuters.com Bonds News
Crude Oil Rises on Speculation U.S. Gasoline Supply Gain Won't Cut Deficit
(Bloomberg) -- Crude oil rose in New York amid
speculation that an expected increase in gasoline stockpiles
won't be large enough to reduce a supply deficit.
Gasoline stockpiles gained 1.5 million barrels in the week
ended May 25, according to the median of responses by 15 analysts
before an Energy Department report tomorrow. Supplies in the week
ended May 18 were 7 percent lower than the five-year average for
the period, the department said last week.
Read more at Bloomberg Energy News
speculation that an expected increase in gasoline stockpiles
won't be large enough to reduce a supply deficit.
Gasoline stockpiles gained 1.5 million barrels in the week
ended May 25, according to the median of responses by 15 analysts
before an Energy Department report tomorrow. Supplies in the week
ended May 18 were 7 percent lower than the five-year average for
the period, the department said last week.
Read more at Bloomberg Energy News
European Stocks Retreat on China Concern, Led by LVMH, Standard Chartered
(Bloomberg) -- European stocks dropped the most in
two months after China increased taxes on securities trades,
sparking concern that global shares face another sell-off.
LVMH Moet Hennessy Louis Vuitton SA, Standard Chartered Plc
and BHP Billiton Ltd. led a decline by companies most dependent
for revenue in the world's fastest growing major economy. Total
SA and BP Plc fell after oil slumped yesterday.
Read more at Bloomberg Stocks News
two months after China increased taxes on securities trades,
sparking concern that global shares face another sell-off.
LVMH Moet Hennessy Louis Vuitton SA, Standard Chartered Plc
and BHP Billiton Ltd. led a decline by companies most dependent
for revenue in the world's fastest growing major economy. Total
SA and BP Plc fell after oil slumped yesterday.
Read more at Bloomberg Stocks News
Mauritius economy on track, inflation too high - IMF
(Reuters) - Mauritius is adjusting to the decline in its dominant textiles industry but inflation is still too high, the IMF said Tuesday, adding that the country's central bank should raise interest rates again if warranted.
"While inflation needs to be reduced, and the current account deficit and public debt remain large, (IMF) Directors considered that the economy is on the right track," the International Monetary Fund said in a regular assessment.
Read more at Reuters Africa
"While inflation needs to be reduced, and the current account deficit and public debt remain large, (IMF) Directors considered that the economy is on the right track," the International Monetary Fund said in a regular assessment.
Read more at Reuters Africa
China stocks plunge weigh on base metals
(Reuters) - A sharp fall in Chinese metal stocks dragged down prices on Wednesday but analysts said losses were limited as the market sought direction from equities.
China's benchmark stock index tumbled 6.5 percent after the government hiked a share-trading tax in its strongest effort yet to cool rampant speculation.
Read more at Reuters Africa
China's benchmark stock index tumbled 6.5 percent after the government hiked a share-trading tax in its strongest effort yet to cool rampant speculation.
Read more at Reuters Africa
Zambia firm to boost power to mines, list shares
(Reuters) - Zambia's Copperbelt Energy Company (CEC) will spend $60 million to increase power supply to the African nation's copper mines by 40 percent and plans to list on the Lusaka bourse, a senior executive said on Wednesday.
Hanson Sindowe, the executive chairman of CEC, told Reuters that the firm was upgrading its power distribution equipment and machinery, which was over 50 years old, to maintain supply to the copper and cobalt mines in the southern Africa nation.
Read more at Reuters Africa
Hanson Sindowe, the executive chairman of CEC, told Reuters that the firm was upgrading its power distribution equipment and machinery, which was over 50 years old, to maintain supply to the copper and cobalt mines in the southern Africa nation.
Read more at Reuters Africa
China's Stocks Tumble After Government Triples Trading Tax to Cool Rally
(Bloomberg) -- China's stocks tumbled the most in
three months after the government tripled the tax on securities
transactions to cool a rally that's drawing more than 300,000 new
investors a day.
The CSI 300 Index dropped 281.83, or 6.8 percent, to close
at 3886.46 in Shanghai, the biggest fluctuation among markets
included in global benchmarks. The value of local stocks has more
than doubled this year to $2.47 trillion and brokerage accounts
topped 100 million for the first time this week.
Read more at Bloomberg Emerging Markets News
three months after the government tripled the tax on securities
transactions to cool a rally that's drawing more than 300,000 new
investors a day.
The CSI 300 Index dropped 281.83, or 6.8 percent, to close
at 3886.46 in Shanghai, the biggest fluctuation among markets
included in global benchmarks. The value of local stocks has more
than doubled this year to $2.47 trillion and brokerage accounts
topped 100 million for the first time this week.
Read more at Bloomberg Emerging Markets News
Korean Won Drops on Overseas Funds Tax Break; Peso, Rupiah Slide on China
(Bloomberg) -- South Korea's won fell from a two-week
high after the government cut taxes on earnings from funds that
invest in stocks abroad, as part of efforts to boost outflows and
curb gains in the currency.
The Ministry of Finance and Economy late yesterday said
starting June 1 it will exempt the funds from the 14 percent tax.
A 1.5 percent gain in the won in the past three months, compared
with the yen's 2.5 percent slide, threatens exports by making
them more expensive to overseas buyers relative to Japan's.
Read more at Bloomberg Currencies News
high after the government cut taxes on earnings from funds that
invest in stocks abroad, as part of efforts to boost outflows and
curb gains in the currency.
The Ministry of Finance and Economy late yesterday said
starting June 1 it will exempt the funds from the 14 percent tax.
A 1.5 percent gain in the won in the past three months, compared
with the yen's 2.5 percent slide, threatens exports by making
them more expensive to overseas buyers relative to Japan's.
Read more at Bloomberg Currencies News
SGS buys two U.S. firms in agricultural sector
(Reuters) - SGS also said it was taking over Mid Iowa Grain Inspection
Inc, which had sales of more than $2.8 million in 2006.
Mid Iowa Grain Inspection Inc is a leading supplier of grain
inspection and grading services in the United States, SGS said.
Read more at Reuters.com Mergers News
Inc, which had sales of more than $2.8 million in 2006.
Mid Iowa Grain Inspection Inc is a leading supplier of grain
inspection and grading services in the United States, SGS said.
Read more at Reuters.com Mergers News
UPDATE 1-Sweden's Vin & Sprit joins Chinese baijiu maker
(Reuters) - STOCKHOLM, May 30 - Absolut vodka maker Vin &
Sprit has formed a joint venture with Chinese baijiu producer
JianNanChun in a bid to tap into a $19 billion market for
the domestic spirit, the Swedish firm announced on Wednesday.
The state-owned company, which the government plans to sell,
said it would own 51 percent of the enterprise, which will
initially market and distribute existing JNC baijiu brands
within the premium segment and later launch new products.
Read more at Reuters.com Mergers News
Sprit has formed a joint venture with Chinese baijiu producer
JianNanChun in a bid to tap into a $19 billion market for
the domestic spirit, the Swedish firm announced on Wednesday.
The state-owned company, which the government plans to sell,
said it would own 51 percent of the enterprise, which will
initially market and distribute existing JNC baijiu brands
within the premium segment and later launch new products.
Read more at Reuters.com Mergers News
Citigroup Boosts Private Sales of High-Risk Asia Securities to Hedge Funds
(Bloomberg) -- Citigroup Inc., the world's second-
biggest bond underwriter, is arranging more private offerings of
Asian high-risk, high-yield debt to meet increased demand from
hedge funds.
Companies in Asia outside Japan will, for the first time,
raise more from high-yield bonds through private placements than
public sales this year, said Jeremy Amias, head of fixed income,
currencies and commodities for the Asia-Pacific at Citigroup.
Read more at Bloomberg Bonds News
biggest bond underwriter, is arranging more private offerings of
Asian high-risk, high-yield debt to meet increased demand from
hedge funds.
Companies in Asia outside Japan will, for the first time,
raise more from high-yield bonds through private placements than
public sales this year, said Jeremy Amias, head of fixed income,
currencies and commodities for the Asia-Pacific at Citigroup.
Read more at Bloomberg Bonds News
Cantor Fitzgerald Sells BGC to ESpeed for $1.3 Billion to Combine Brokers
(Bloomberg) -- Cantor Fitzgerald LP, the U.S.
securities firm that started as a bond broker, will combine its
ESpeed Inc. and BGC Partners units in a $1.3 billion transaction
that combines the voice and electronic trading divisions.
ESpeed will pay 133.9 million new shares to London-based BGC,
the company said late yesterday in a statement. The shares are
valued at $9.75 each, 6.1 percent more than ESpeed's closing
price yesterday. The combined company will have more than $1
billion of revenue this year, according to New York-based ESpeed,
which had $164 million of revenue last year.
Read more at Bloomberg Bonds News
securities firm that started as a bond broker, will combine its
ESpeed Inc. and BGC Partners units in a $1.3 billion transaction
that combines the voice and electronic trading divisions.
ESpeed will pay 133.9 million new shares to London-based BGC,
the company said late yesterday in a statement. The shares are
valued at $9.75 each, 6.1 percent more than ESpeed's closing
price yesterday. The combined company will have more than $1
billion of revenue this year, according to New York-based ESpeed,
which had $164 million of revenue last year.
Read more at Bloomberg Bonds News
Google CEO hopes DoubleClick deal closes by yr-end
(Reuters) - Schmidt reiterated Google's hope that it could complete the DoubleClick deal, which is currently the subject of an extended U.S. federal antitrust investigation.
"We are quite convinced that the proposed merger meets all appropriate U.S. laws," he said.
Read more at Reuters.com Business News
"We are quite convinced that the proposed merger meets all appropriate U.S. laws," he said.
Read more at Reuters.com Business News
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