Financial News

MELBOURNE (Reuters) - The world's largest miner, BHP Billiton, said it could invest up to $5 billion (2.8 billion pounds) expanding its Australian Olympic Dam mine, doubling the project's copper capacity and trebling uranium capacity. BHP Billiton (BLT.L: Quote, Profile, Research) , which is completing a pre-feasibility study into the expansion, said construction could start in 2009, with product ...

Geoff Foster, Daily Mail5 April 2006 ALARM bells should have been ringing in the boardrooms of the major UK banks when news broke that Chuck Prince is on the acquisition trail. OTHER STORIES Market report: Wed preview Isa savers face final countdown New on the market Smaller companies report: Tuesday close Aim freezes 38 firms in shells crackdown THE EDITOR'S CHOICE TOP ADVI ...

Consolidation in the European banking sector provided an important theme for the markets on Tuesday. // National Bank of Greece jumped 3.8 per cent to €39.64 as investors applauded its purchase of a controlling stake in Finansbank, a Turkish lender. “Strategically, we believe this deal is positive in the long term, as it tackles NBG’s growth concerns once Greek lending metrics converge to the Eu ...

By Julien Ponthus BRUSSELS (Reuters) - Arcelor (CELR.PA: Quote, Profile, Research) beefed up defences against a planned $25 billion (14 billion pound) takeover bid by bigger rival Mittal Steel (ISPA.AS: Quote, Profile, Research) on Tuesday by boosting payouts to shareholders and ring-fencing assets Mittal planned to sell. But its chief financial officer said the moves would not stop Mittal's b ...

Evening Standard4 April 2006 BMI British Midland has shrugged off recent sharp falls in passenger numbers to report a quadrupling of pre-tax profits in 2005. WANT TO KNOW MORE? DEAL FINDER: Travel insurance REPORT: 50 ways to save on your holidays OTHER STORIES NTL seals Virgin Mobile takeover Turner's pension challenge Market report: Tuesday 14.30 Homes cost us £10,000 a yea ...

By Julien Ponthus BRUSSELS (Reuters) - Arcelor (CELR.PA: Quote, Profile, Research) beefed up its defences against bigger rival Mittal Steel's (ISPA.AS: Quote, Profile, Research) $25 billion (14 billion pound) takeover bid by further boosting payouts to shareholders and ringfencing assets that Mittal had planned to sell. Arcelor, the world's second largest steelmaker, said on Tuesday it would r ...

Sir Richard BransonSIR Richard Branson has taken his Virgin Mobile business across the Channel in a bid to shake up the French phone market. The tycoon has joined forces with retailer Carphone Warehouse for the venture, which will run off the phone network of Orange and offer the same rates for pre-pay customers as contract holders. It hopes to become the country's fourth biggest operator, with a target of one million customers within three years. Advertisement your story continues below  ...

By Steve Slater and Clara Ferreira-Marques LONDON (Reuters) - Life insurer Resolution said on Tuesday it was in a strong position to lead further consolidation of life funds despite a tougher market, as its embedded value rose to the top of analysts' expectations. Resolution (RSL.L: Quote, Profile, Research) said it expected more closed life insurance funds to be sold to specialists and it was well placed to take advantage, but Chief Executive Paul Thompson said more buoyant equity markets ha ...

Ross Tierman, Evening Standard4 April 2006 EUROPEAN steel giant Arcelor was today expected to unveil a special dividend totalling more than €1bn (£698m) in its most dramatic move yet to escape a €21bn hostile bid by London steel tycoon Lakshmi Mittal. WANT TO KNOW MORE? BOARDS: Discuss stocks and shares FTSE: Risers and fallers READER SERVICE: Share dealing OTHER STORIES ...

Evening Standard4 April 2006 JK ROWLING may be only just sketching out the final novel of the seven-strong Harry Potter series but her publisher Bloomsbury is well ahead with plans to exploit the wizard schoolboy for years to come. IT'S MAGIC: Harry Potter is a cash cow for Bloomsbury WANT TO KNOW MORE? CHAT: Discuss stocks and shares READER SERVICE: Share dealing OTHER STORIES Homes cost us £10,000 a year Turner to intensify Brown-Blair stand-off Market repo ...