Financial News

New CEO says he won't sell Scottish Power -papers
14 Jan 2006 source: today.reuters.co.uk

LONDON (Reuters) - Incoming Scottish Power (SPW.L: Quote, Profile, Research) chief executive Philip Bowman has told staff he does not intend to sell the energy business, newspapers reported on Saturday. Bowman's appointment on Thursday fuelled speculation the man who sold drinks group Allied Domecq might steer the utility towards a deal with E.ON AG (EONG.DE: Quote, Profile, Research) . Scottish ...

SykePharma seeks new CEO, weighs break-up of firm
14 Jan 2006 source: today.reuters.co.uk

LONDON (Reuters) - Drug delivery firm SykePharma (SKP.L: Quote, Profile, Research) , which opened its books last month to potential acquirers, is seeking a new chief executive and may consider breaking up, a spokesman said on Saturday. "They are looking for a new chief executive," the spokesman said, adding selling parts of the business was now an option. SkyePharma launched a strategic review i ...

Bond investors retain risk appetite
13 Jan 2006 source: ft.com

Strong demand for new corporate bond issues this week showed that investors had retained an appetite for risk in the new year. // Oracle, the US software company, took full advantage of the conditions and issued $5.75bn of bonds in three tranches, more than the $5bn it initially sought, to fund its takeover of Siebel Systems. The increased size showed that investor demand remained strong, despite concerns that the credit cycle is turning and default rates are expected to rise. The sterling ma ...

Virgin Mobile confirms NTL approach
13 Jan 2006 source: today.reuters.co.uk

By Siobhan Kennedy and Adam Pasick LONDON (Reuters) - Virgin Mobile (VMOB.L: Quote, Profile, Research) has received a revised bid approach from cable suitor NTL (NTLI.O: Quote, Profile, Research) , the mobile operator said on Friday, confirming an earlier Reuters report. Virgin Mobile, the country's fifth-largest mobile operator, did not give details of the new takeover proposal, only saying that it was in preliminary discussions with NTL, whose initial proposal it rejected last month. Earli ...

Berlusconi seizes chance to embarrass Italy's left
13 Jan 2006 source: ft.com

Italians were recovering on Friday from the surprise of having seen Silvio Berlusconi, prime minister and scourge of Italy’s judicial system, pay an entirely voluntary visit to prosecutors in Rome. // Mr Berlusconi’s clashes with the judiciary have been a hallmark of his premiership, which started in May 2001. He sometimes accuses leftwing magistrates of plotting to destroy his career by putting him on trial for political motives. Yet on Thursday Mr Berlusconi, who once called judges “anthropo ...

Market report: Friday Close
13 Jan 2006 source: thisismoney.co.uk

Sarah Marks, Evening Standard13 January 2006 RUMOURS that a major US player is eyeing up International Power propelled the price 5¾p to 257¾p. WANT TO KNOW MORE? POLL: Where will the FTSE 100 finish at the end of 2006? OTHER STORIES More forced to work beyond 65 Iran crisis to bring soaring oil costs Criminals target 'secure' sites How we pay £½bn in ban ...

Tobacco sector feels the heat
13 Jan 2006 source: thisismoney.co.uk

Geoff Foster, Daily Mail13 January 2006 TOBACCO stocks were dragged lower by the growing prospect that a total smoking ban in England will be in place by the summer of next year. The government is now prepared to allow a free vote on the issue. That means a compromise deal, which allowed some pubs to remain open to smokers, will almost certainly be stubbed out. OTHER STORIES Market repor ...

MARKET SNAPSHOT: U.S. Stock Losses Mount On Iran Jitters
12 Jan 2006 source: morningstar.com

NEW YORK (MarketWatch) - U.S. stock price losses accelerated Thursday afternoon, as crude-oil prices remained elevated and worries about the resumption of Iran's nuclear research program weighed on the market. The market also was pressured by downgrades for Coca-Cola Co. and J.P. Morgan Chase as well as uncertainty about earnings. The Dow industrials(DJI)were last down 45.06 points at 10,998 ...

Shire leads FTSE higher
12 Jan 2006 source: ft.com

Tate & Lyle, the sugar producer and sweetener maker, was hit by fears of competition in its lucrative sucralose market on another bumper day of business in London. // Tate started the day in fine fettle, rising as high as 619½p until traders noted an online article on FoodNavigator.com in which an Indian company said it had developed a sucralose that would break Tate & Lyle’s lucrative m ...

MARKET SNAPSHOT: U.S. Stocks Hurt By Downgrades, Earnings Fears ...
12 Jan 2006 source: morningstar.com

NEW YORK (MarketWatch) - U.S. stocks were lower at midday Thursday, as downgrades for Coca-Cola Co. and J.P. Morgan Chase hurt the Dow Jones Industrial Average, while rising energy prices and questions about earnings strength undermined sentiment. The Dow industrials(DJI)were down 35.94 points at 11,007.50. The S&P 500(SPX) was 1.65 points lower at 1,292.53 and the Nasdaq Composite(RIXF)dow ...

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