Financial News

LONDON, March 21 (Reuters) - British music company EMI is in talks to allow rival labels to manage its back catalogue in order to raise funds and prevent a takeover from its lender, reported the Sunday Times. EMI, which is owned by Guy Hands' private equity group Terra Firma, is trying to put in place a new business plan as it faces a covenant shortfall on its 2.6 billion pounds ($3.95 bil ...

LONDON, March 21 (Reuters) - Indian Oil Corporation , India's largest company by revenues, is the bidder behind the approach to UK-listed Gulfsands Petroleum, a source close to the situation confirmed on Sunday. The Syria-focused oil explorer last week rejected an unsolicited takeover approach of around 350 pence per share, saying the proposal was "wholly inadequate". The ...

Neil Craven, Financial Mail21 March 2010, 12:17pm A major investor in outdoor wear chain Blacks Leisure has told Financial Mail it would not bow to pressure from Sports Direct owner Mike Ashley following his 62p-a-share bid approach, which was made public last week. WANT TO KNOW MORE? Latest share price: Blacks FTSE LATEST 5650.127.51 document.write(""); document.write(""); document.write(""); £12.50 SHARE DEALING • Buy and sell shares online or by  ...

Simon Watkins, Financial Mail21 March 2010, 12:40pm Reader comments (1) So will the City end up saying sorry to Eric Daniels? The Lloyds Banking Group chief has faced a barrage of criticism from investors and the Press for his takeover of the near-bust HBOS at the height of the banking crisis. Better-than-expected: Daniels is pleased with results of the HBOS takeover WANT TO KNOW MORE? Lloyds to cut another 260 jobs FTSE LATEST 5650.127.51 document.write(""); docu ...

By Matt Smith DUBAI, March 21 (Reuters) - Dubai's debt restructuring proposal will determine the fate of UAE equity markets as the ailing emirate seeks support from Abu Dhabi, with markets poised to rally if the deal includes guarantees, analysts said. Dubai's index has been resurgent, gaining 12.8 percent in 12 trading days, as investors bet a restructuring deal would be more favourable  ...

Oliver Shah, Financial Mail21 March 2010, 11:02am Resolution, the insurance buyout group led by Clive Cowdery, will this week raise City hopes that it is ready for another takeover when it unveils a war chest bolstered with extra cash from its Friends Provident acquisition. Clive Cowdery: Ready for another takeover? WANT TO KNOW MORE? Next staff to share £20m in bonuses FTSE LATEST 5650.127.51 document.write(""); document.write(""); document.write("");
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Tom McGhie, Financial Mail21 March 2010, 12:01pm The board of VT Group will meet this week to consider an improved £2.5bn offer from its support services rival Babcock International. VT Group: Chief Peter Lester is holding out for a higher offer WANT TO KNOW MORE? VT and Babcock in takeover talks FTSE LATEST 5650.127.51 document.write(""); document.write(""); document.write(""); £12.50 SHARE DEALING • Buy and sell shares online or by phone for & ...

Stephen Womack, Financial Mail21 March 2010 Reader comments (1) The challenge of rewarding savers and keeping the books balanced in an era of low interest rates will dominate this year's season of building society annual meetings. Happy: Richard and Alison Roberts at the society's annual meeting WANT TO KNOW MORE? A bumper year ...for bosses of mutuals SAVINGS ACCOUNT FINDER Do your own homework on the best savings accounts with our account finder tool. ›&rs ...

LOS ANGELES, March 20 (Reuters) - Novell Inc spurned a $2 billion takeover offer from investment fund Elliott Associates on Saturday, calling the bid inadequate and saying it undervalued the business software maker. Novell said its board had instead initiated a review of alternatives, including a share buyback, cash dividend, joint ventures, recapitalization, alliances or an outright sale. ...

Geoff Foster, Daily Mail20 March 2010, 2:41pm Coming completely out of the blue on Cheltenham Gold Cup Day, Lloyds Banking Group's wonderful revelation that it will be profitable in 2010 due to lower-than-expected bad debts and controlled costs sent shares of the 41% government-owned institution through the roof. Stampede: Punters returned to Lloyds' stock this week WANT TO KNOW MORE? Newspaper and magazine share tips Where to invest in the flight to quality? FTSE LATES ...