Financial News

By Ana Nicolaci da Costa LONDON (Reuters) - Leading shares closed 1 percent lower on Friday as escalating violence in the Middle East and rising oil prices worried investors already nervous about corporate profits and higher interest rates. As Israel continued its military strikes against Beirut and oil surged to record highs above $78, nervousness over escalating political risks and inflationary pressure knocked Britain's FTSE 100 index 57.4 points lower to 5,707.6 -- its lowest level in two ...

By Ana Nicolaci da Costa LONDON (Reuters) - Leading shares closed 1 percent lower on Friday as escalating violence in the Middle East and rising oil prices worried investors already nervous about corporate profits and higher interest rates. As Israel continued its military strikes against Beirut and oil surged to record highs above $78, nervousness over escalating political risks and inflationary pressure knocked the FTSE 100 index 57.4 points lower to 5,707.6 -- its lowest level in two weeks ...

This is Money14 July 2006 ENGINEERING firm Babcock today said current trading was in line with expectations after the financial year started 'very satisfactorily'. OTHER STORIES Spectre of £5 a gallon looms Rosneft float hit by last-minute delay Market report: Friday preview FSA pair hold key to bankers' defence Enodis considers new offer THE EDITOR'S PICKS CAMPAIGN: 'Avo ...

EMI favourite Chris Martin of ColdplaySHARES in music giant EMI tumbled after a European court ruling cast doubt over a possible trans-Atlantic merger with US rival Warner. The European Court annulled previous EU approval of a 2004 tie-up between Sony and BMG which created the second largest music company in the world behind Universal. The ruling sparked fears in the City that a combination of London-based EMI and Warner could also be blocked. The pair are currently locked in a takeover tug-of ...

BOSTON (Dow Jones) - Several of the pharmaceutical industry's bellwethers are slated to issue their second-quarter earnings reports next week, with most expected to report that revenue grew in the low single-digits over last year's quarter. In general, pharmaceuticals investors will be watching not only to see whether mature blockbuster products are holding their own, but also whether newer pro ...

By Rachelle Younglai TORONTO (Reuters) - Inco Ltd. (N.TO: Quote, Profile, Research) extended its friendly takeover offer for Falconbridge Ltd. (FAL.TO: Quote, Profile, Research) by 11 days on Thursday, buying itself more time as it battles with Swiss-based Xstrata (XTA.L: Quote, Profile, Research) for the Canadian nickel and copper producer. Inco's offer, which was otherwise unchanged, now ex ...

SAN FRANCICO (Dow Jones) -- Nissan and Renault chief Carlos Ghosn said Thursday he is looking forward to a sober assessment of whatever benefits a three-way alliance with General Motors Corp. might achieve when he sits down to discuss the possibility with GM CEO Rick Wagoner. At the same time, he ruled out expanding his responsibilities to include running a third car company, words aimed at off ...

By Adam Pasick and Mathieu Robbins LONDON (Reuters) - EMI and Warner Music are likely to suspend their merger talks in the wake of a European court ruling related to the Sony BMG merger, sources familiar with the situation said on Thursday. In a surprise decision, the European Court of First Instance annulled the European Union's approval of a 2004 merger between Sony Music and BMG which created the world's second-biggest music company. EMI and Warner, the world's third- and fourth-largest mu ...

By Keiron Henderson LONDON (Reuters) - The FTSE 100 index closed down 1.6 percent on Thursday, its biggest loss in a month as growing tension in the Middle East pushed oil prices higher and miners slumped on commodity price declines. Accounting software company Sage (SGE.L: Quote, Profile, Research) was one of the biggest FTSE fallers, down 4.7 percent after German software giant SAP missed analysts' expectations for licence sales and operating earnings in the second quarter. Traders said t ...

By Jeffrey Goldfarb and Sabina Zawadzki LONDON/BRUSSELS (Reuters) - A European court annulled the European Union's approval of a 2004 merger between Sony Music and BMG in a surprise decision that could force a break-up of the world's second-biggest music company. The unprecedented ruling by the European Court of First Instance on Thursday, upholding a challenge to the deal from independent record labels, also cast doubt on the viability of combining EMI Group and Warner Music, which are engage ...