Financial News

SAO PAULO, Brazil (Reuters) - Brazil's CVRD (VALE5.SA: Quote, Profile, Research) , the world's leading iron ore producer, joined the bidding war for Canadian nickel miner Inco Ltd. (N.TO: Quote, Profile, Research) on Friday with an all-cash offer of $17.6 billion (10.5 billion pounds), one of the biggest overseas takeover bids ever by a Brazilian company. Flush with cash from sky-high metal prices, mining companies have been aggressively seeking to consolidate to keep up with demand from fast- ...

SAO PAULO, Brazil (Reuters) - Brazil's CVRD (VALE5.SA: Quote, Profile, Research) , the world's leading iron ore producer, joined the bidding war for Canadian nickel miner Inco (N.TO: Quote, Profile, Research) on Friday with an all-cash offer of $17.6 billion (10.5 billion pounds), one of the biggest overseas takeover bids ever by a Brazilian company. Flush with cash from sky-high metal prices, mining companies have been aggressively seeking to consolidate to keep up with demand from fast-growi ...

Brazilian mining group CVRD has tabled a $17.6bn (£13.9bn) bid for rival Inco in a move that could lead to a bidding war breaking out for the Canadian firm. The cash offer of $86 per Inco share trumps previous bids from US group Phelps Dodge and Canada's Teck Cominco. News of the bid comes weeks after Inco pulled out of a takeover battle for Canadian mining group Falconbridge. The sector has seen a wave of takeovers as record prices have led to firms fighting to buy resource assets. Sur ...

NEW YORK (AFX) - The owner of the Mammoth, Stratton and Whistler ski resorts has agreed to be acquired by private equity firm Fortress Investment Group LLC for about $1.81 billion cash. The acquisition on Friday of Intrawest Corp., whose properties also include luxury safari operator Abercrombie & Kent and the Tremblant ski resort in Quebec, is the biggest-ever buyout of a publicly traded ...

SAO PAULO, Brazil (Reuters) - Brazil's CVRD, the world's leading iron ore producer, on Friday joined the bidding war for Canadian nickel miner Inco Ltd. with an all-cash offer of $17.6 billion (10.5 billion pounds), one of the biggest overseas takeover bids ever by a Brazilian company. Flush with cash from sky-high metals and minerals prices, mining companies have been aggressively seeking to con ...

CHICAGO (AFX) - Bally Total Fitness Holding Corp., which has seen its stock plunge and had lower-than-expected membership sales, announced Friday that chairman and chief executive officer Paul A. Toback has resigned. The company said the resignation is effective immediately and that Don R. Kornstein has been appointed the company's interim chairman and that Barry R. Elson had been named acting CE ...

Katie Hind, Daily Mail2 August 2006 Reader comments (5) THE Rolling Stones have paid just 1.6% tax on their earnings of £242m over the past 20 years, it emerged yesterday. GIMME SHELTER: Sir Mick Jagger and his Rolling Stones bandmates have benefited from massive tax breaks and paid just 1.6% of their earnings WANT TO KNOW MORE? REPORT: Buffett's £24bn giveaway GUIDES: Tax help and advice REPORT: Beat the second home tax trap OTHER STORIES How family trus ...

PARIS (AFX) - Share prices closed slightly higher after a choppy day of trading, with weakness on Wall Street limiting the bounce for French stocks from yesterday's losses, dealers said. The CAC-40 finished up 8.88 points or 0.2 pct at 4,985.52. On the week, the benchmark index fell 1.1 pct from last Friday's close. Volume for the day reached just 3.1 bln eur, as many traders left their desks ea ...

LONDON (AFX) - European markets at close LONDON (AFX) - UK blue chips closed a touch weaker, well off days lows in thin volume after a topsy-turvy session, having reversed morning gains as New York beat a retreat after stronger-than-expected US retail sales data revived the spectre of inflation across the Atlantic, dealers said. At the close, the FTSE 100 index was 3.3 points easier at 5,802.1,  ...

NEW YORK (AFX) - KeySpan Corp., a natural gas distributor, on Friday said the independent research firm Glass Lewis has endorsed a proposed takeover by British utility National Grid. KeySpan and National Grid announced the $7.3 billion deal in February. KeySpan shareholders will vote on the proposal Aug. 17. It would give KeySpan shareholders $42 in cash per share and create the country's third-l ...