Reuters Stocks & Shares
BA-Iberia eye deal targets, Asia seen top of list
LONDON/MADRID (Reuters) - British Airways and Iberia have identified possible acquisition targets to pursue once their own merger completes, with Asia seen as a key region for expansion.
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More Swiss franc gains versus euro may push SNB to act
LONDON (Reuters) - The Swiss franc could be poised to hit more record highs against the euro in the coming months, adding to the risk of the central bank intervening to curb franc gains despite its June pledge to stay away.
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Landesbank consolidation faces hurdles, delay
FRANKFURT (Reuters) - Germany's struggling landesbanks, soon to be spurred into consolidation by European regulators, will find the process slow going and impeded by reluctant buyers and politicians clinging to their influence.
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Time short for frozen German property funds
FRANKFURT/LONDON (Reuters) - Germany's crisis-hit open-ended property funds are bracing for a red tape revolution this autumn that may alienate key investors and spark sector consolidation, consigning smaller funds to an uncertain future.
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UK property dealmakers chase Asia prospects
LONDON (Reuters) - Several key dealmakers in the UK commercial property market are seriously mulling a move to the fast-maturing Asia market, citing money-making opportunities in mergers, acquisitions, flotations and advisory work.
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Central American coffee strong stand-in for Colombia
SAN JOSE, Costa Rica (Reuters) - Coffee buyers who turned to Central America for quality Arabica beans last year when Colombian output sank to three-decade lows are likely to stick with their new isthmus suppliers even as output recovers in Colombia.
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Burger King sale may stoke restaurant deals
LOS ANGELES (Reuters) - Burger King Holdings Inc's $3.26 billion (2.1 billion pounds) buyout by investment firm 3G Capital may be the first in a new flurry of restaurant deals, with private equity firms hungry for high cash flow and low valuations.
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VIX fear gauge leaves Wall Street rudderless
NEW YORK (Reuters) - The CBOE Volatility Index is often used to predict where markets are headed in coming weeks, but now may not be a good time to rely on Wall Street's so-called fear gauge for direction.
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China tells state companies to explore Potash bid
TORONTO/HONG KONG (Reuters) - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion (25 billion pound) bid for Potash Corp , a source with direct knowledge of the matter said.
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China tells state companies to explore Potash bid
TORONTO/HONG KONG (Reuters) - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp , a source with direct knowledge of the matter said.
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Beer finds favour over spirits in slow recovery
LONDON (Reuters) - Big brewers like Anheuser Busch InBev are seen as a better bet than spirit giants Diageo and Pernod Ricard to gain from the uneven world recovery in which only emerging markets are showing strong growth.
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Morrison's eyes small stores, non-food for growth
LONDON (Reuters) - Plans to open more smaller stores, revamp non-food ranges and eventually move online could help Wm Morrison Supermarkets , Britain's No.4 grocer, to close the share price discount to its competitors.
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Oil's rangebound 2010 catches out price bulls
LONDON (Reuters) - An oil market that has traded mostly between $70 to $80 a barrel in 2010 has caught out some of the oil bulls on Wall Street calling for higher prices, and some now see rangebound conditions prevailing into 2011.
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UK welfare reforms limited by upfront cost
LONDON (Reuters) - Lessons from across the Atlantic show the kind of welfare reforms Britain wants to implement may not succeed at getting people off benefits and into work without a level of upfront spending it cannot afford.
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Plenty of fish for Dell after losing 3PAR to HP
BANGALORE (Reuters) - Dell Inc may have lost the bidding war for 3PAR Inc to Hewlett-Packard Co, but the data storage industry offers plenty of other targets.
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Bank wind-down would threaten Irish debt, ratings
DUBLIN (Reuters) - A wind-down of Anglo Irish Bank, even on a gradual basis, is fraught with risk for Ireland's sovereign rating and debt but political necessity may force Dublin to take the plunge.
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Conundrum: M&A/credit binge versus double-dip fear
LONDON (Reuters) - A new conundrum faces financial markets -- why, if the global economy is heading back into trouble, are companies on an M&A binge and big investors snapping up so much corporate debt?
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UBS CEO Gruebel could teach CS pupil Dougan a lesson
ZURICH (Reuters) - Battle-scarred UBS boss Oswald Gruebel's strength in the face of adversity could give his bank the edge in testing months ahead as he fights former charge Brady Dougan, CEO at Credit Suisse, for Swiss banking supremacy.
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Possible outcomes of Sanofi's bid for Genzyme
PARIS (Reuters) - U.S. biotech company Genzyme rejected an all-cash $18.5 billion (12 billion pounds) offer from French drugmaker Sanofi-Aventis this week, setting the stage for a potentially hostile takeover battle.
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HSBC warns bank break-up could force exodus
LONDON (Reuters) - HSBC Holdings, Europe's biggest bank, warned that Britain's big banks could move overseas if a government review decides that lenders should be broken up.
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Emerging markets urged to embrace new bank rules
SEOUL (Reuters) - The head of the Basel Committee on Banking Supervision urged emerging market economies on Friday to adopt news rules on bank capital even though they may feel they have sufficient regulatory arrangements in place.
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Chaos as Mozambicans protest higher bread prices
MAPUTO (Reuters) - Shops were looted, cars set ablaze and roads barricaded. Protests over bread price rises spread over Maputo on Thursday, while troops struggled to clear up and restore a semblance of order in the city centre.
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Canada fund approached by China investors on Potash
TORONTO/HONG KONG (Reuters) - Chinese and other investors have approached at least one big Canadian pension manager about a bid for Canada's Potash Corp to rival BHP Billiton's $39 billion (25.3 billion pound) hostile offer.
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BRICs - victims of success with global investors?
LONDON (Reuters) - Shares of companies from the world's biggest developing economies are increasingly featuring in global fund portfolios, a possible reason why BRIC markets are underperforming in 2010 compared to emerging market peers.
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Japan dilemma as economic dependence on China grows
TOKYO (Reuters) - Japan's growing dependence on China for growth grates with concerns over its expanding military reach, deepening a dilemma over how to engage with its giant neighbour even as the two trade places in economic rankings.
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Reuters Business News
Firms see static hiring outlook in Q4
LONDON (Reuters) - British companies expect hiring rates to be static for the rest of this year, with firms in the public sector expecting to cut headcount, a survey showed on Tuesday.
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Retail sales growth picks up in August
LONDON (Reuters) - Retail sales growth accelerated last month, helped by clothes sales, a survey showed on Tuesday, but discounting played a part in the improvement and consumers remain reluctant to splash out on expensive items.
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Obama kicks off campaign with infrastructure plan
MILWAUKEE (Reuters) - President Barack Obama, scrambling to jump-start job creation in a sluggish U.S. economy, proposed a six-year plan on Monday to rebuild ageing roads, railways and runways with an initial $50 billion (32 billion pounds) investment.
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EU moves closer to swifter sanctions in budget rules
BRUSSELS (Reuters) - European Union finance ministers moved closer to agreement on swifter sanctions for budget rule breakers on Monday but put off potentially difficult talks on a permanent mechanism to resolve euro zone crises.
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Obama kicks off campaign with $50 bln jobs plan
MILWAUKEE (Reuters) - President Barack Obama, scrambling to jump-start job creation in a sluggish U.S. economy, announced on Monday a six-year plan to revamp ageing roads, railways and airport runways with an initial $50 billion investment.
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Shell in exclusive talks to sell Swedish refinery
LONDON/HELSINKI (Reuters) - Royal Dutch Shell is in exclusive talks with Finnish fuel distributor St1 to sell the oil major's Swedish refinery, both companies said on Monday.
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BA-Iberia eye deal targets, Asia seen top of list
LONDON/MADRID (Reuters) - British Airways and Iberia have identified possible acquisition targets to pursue once their own merger completes, with Asia seen as a key region for expansion.
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Growth hopes boost global equities
LONDON (Reuters) - World stocks rose on Monday on hopes the U.S. economy can avoid slipping back into recession, although the International Monetary Fund's chief economist warned of weak growth in both the United States and Europe.
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EU budget chief says UK rebate should end - report
BERLIN (Reuters) - European Union budget chief Janusz Lewandowski was quoted by a newspaper Monday as saying Britain's rebate from the bloc was unwarranted and should be repealed.
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FTSE up for 7th session, economy confidence holds
LONDON (Reuters) - Firmer banks and energy stocks, lifted by an improved outlook for the global economy, fuelled slight gains on Britain's top share index, pushing it to its highest close in over four months on Monday.
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Graphite closes in on £325 million auto deals - sources
LONDON (Reuters) - British buyout firm Graphite Capital is in exclusive talks on two auto industry deals worth a combined $500 million (325 million pounds), potentially selling one business and buying another, people familiar with the situation said.
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Graphite closes in on £325 million auto deals - sources
LONDON (Reuters) - British buyout firm Graphite Capital is in exclusive talks on two auto industry deals worth a combined $500 million (325 million pounds), potentially selling one business and buying another, people familiar with the situation said.
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Dublin ready to close Anglo if state solvency dictates
DUBLIN (Reuters) - Ireland is still mulling whether to keep parts of Anglo Irish Bank open but stands ready to wind it down if that helps keep the country solvent, Finance Minister Brian Lenihan said Monday.
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iShares launches first euro high-yield bond ETF
LONDON (Reuters) - iShares, the exchange-traded funds (ETF) operator owned by BlackRock , said on Monday it had launched a fund that will provide investors with easier access to the European high-yield bond market.
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M&G taps into inflation fears with new bond fund
LONDON (Reuters) - Prudential's fund management arm, M&G, is tapping into fears of resurgent inflation and appetite for bonds with an inflation-linked corporate bond fund, which it says is the first of its kind.
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Banks consider 4 billion euros for Nabucco gas pipeline
BRUSSELS (Reuters) - Plans for the giant Nabucco gas pipeline to bring Central Asian gas to Europe took a step forward on Monday, when the consortium announced the involvement of three international financial institutions.
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C&W Worldwide up on report SingTel mulling bid
LONDON (Reuters) - Shares in Cable & Wireless Worldwide rose to their highest level since a profit warning in July after a weekend report that Singapore Telecom was considering a bid for the British operator.
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Strategic Natural says no new info in press report
LONDON (Reuters) - Miner Strategic Natural said there was no new information in a weekend press report that sent its shares surging on Monday.
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Nikkei up 2.1 pct after breaking above key resistance
TOKYO (Reuters) - Japan's Nikkei average rose 2.1 percent on Monday, gaining for a fourth day after fewer-than-expected U.S. job losses in August bolstered optimism that the U.S. economy would not fall back into recession.
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IMF's Lipsky says moderate world recovery underway
GWANGJU, South Korea (Reuters) - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.
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BP restarts sale of Alaskan assets - report
LONDON (Reuters) - BP has revived the sale of its Alaskan assets after failing to offload them to U.S. oil and gas company Apache in July, the Financial Times reported on Monday.
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IT job opportunities slump in public sector
LONDON (Reuters) - Public sector job opportunities in IT have fallen markedly since the start of the year, a survey showed Monday, in a sign that the government's austerity drive is already affecting the labour market.
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City Financial launches Asian Absolute Growth Fund
LONDON (Reuters) - Fund management firm City Financial said Monday it has launched an Asian fund of hedge funds in a move designed to tap into the rapid development of the hedge fund industry in the region.
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Accountants PWC UK to create 800 new jobs
LONDON (Reuters) - PricewaterhouseCoopers UK (PWC) , one of Britain's four biggest accountancy companies, announced plans on Monday to create 800 new jobs as it posted lower profits for the year ended June 2010.
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Santander in the market for 6,000 new hires - report
LONDON (Reuters) - Santander could hire up to 6,000 new staff over the next year or two as part its expansion in Britain, the Financial Times said on its website on Sunday.
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