Financial News

LONDON (Reuters) - Centrica, Britain's biggest gas supplier, is expected to post a 29 percent fall in half-year profit on Thursday after its margins were squeezed by high wholesale gas costs. Five analysts polled by Reuters forecast operating profits for the six months to end-June between 644 million pounds and 766 million pounds, with the average pegged at around 688 million pounds. Centrica (CNA.L: Quote, Profile, Research) , British Gas owner and a potential bid target for Russia's Gazprom, ...

HONG KONG (Dow Jones) -- Shares of Gome Electrical Appliances Holding Ltd., China's largest electrical-appliance retailer by revenue, and rival China Paradise remained suspended from trading Friday in Hong Kong, as talks on a possible merger deal continued. Gomeis offering to swap one new share for about three shares for China Paradise, the third-largest consumer appliance retailer on the mainl ...

HSBC has boosted its Latin American presence with the $1.8bn (£1bn) takeover of Panama's Grupo Banistmo. The deal gives the bank - the world's third-biggest - 220 branches in Panama, Costa Rica, El Salvador, Honduras, Colombia, Nicaragua and the Bahamas. HSBC is looking to expand in Latin America, an emerging market with higher growth potential than its core regions of Europe, the US and Ho ...

LONDON (Reuters) - London Clubs International made a full-year loss of 3.6 million pounds after high rollers at the casino owner's former flagship site, Les Ambassadeurs, enjoyed a purple patch. However, London Clubs (LCI.L: Quote, Profile, Research) said on Friday trading at its London venues was improving after a relatively slow start to its new financial year, while its provincial casinos had seen increases in attendance and overseas businesses were ahead year-on-year. London Clubs said it ...

Bill Condie, Evening Standard21 July 2006 BANKING giant HSBC is to buy Panama's leading bank, Grupo Banistmo, for £920m to boost its presence in Latin America. OTHER STORIES Airline complaints soar 50% Google at the double with £390m Market report: Friday preview £173m PartyGaming plays down US threat Airline fees that leave golfers teed off... THE EDITOR'S  ...

SAN FRANCISCO (Dow Jones) -- Hedge funds attracted new money at the fastest pace since at least 2003 during the second quarter as strong performance from earlier this year lured investors, Hedge Fund Research Inc. said on Thursday. Hedge funds pulled in $42.1 billion in new money during the second quarter, bringing total assets to $1.225 trillion. HFR reported. Hedge funds are private invest ...

NEW YORK (Dow Jones) -- Wachovia Corp said Thursday second-quarter earnings rose 14%, topping estimates, thanks to its investment and general banking operations, which were boosted by its acquisition of Westcorp. The Charlotte, N.C.-based bank posted earnings of $1.89 billion, or $1.17 a share, in the quarter ended June 30, compared with earnings of $1.65 billion, or $1.04 a share, the year ear ...

NEW YORK (Dow Jones) -- Wachovia Corp said Thursday second-quarter earnings rose 14%, topping estimates, thanks to its investment and general banking operations, which were boosted by its acquisition of Westcorp. The Charlotte, N.C.-based bank posted earnings of $1.89 billion, or $1.17 a share, in the quarter ended June 30, compared with earnings of $1.65 billion, or $1.04 a share, the year ear ...

Evening Standard20 July 2006 STANLEY Leisure, London's biggest casino operator, is still in merger talks with rival London Clubs International to create a £700m company, chief executive Bob Wiper confirmed today. WANT TO KNOW MORE? REPORT: Online betting fights US ban GUIDES: Spread betting explained TIPS & TACTICS: Midas' stock picks OTHER STORIES World Cup puts boot into ...

LONDON (Reuters) - Shares in Watermark Group slumped by more than a quarter on Thursday after the airline caterer said that talks with private equity about a possible takeover had ended. Shares in the company (WMK.L: Quote, Profile, Research) , which also supplies airline cabin equipment, were off 27.3 percent at 78-1/2 pence by 8:50 a.m., valuing the group at around 35 million pounds. Watermark ...