Financial News

SYDNEY (XFN-ASIA) - Australia's largest steel maker BlueScope Steel Ltd said it has acquired 19.9 pct of the shares of Smorgon Steel Ltd, effectively blocking OneSteel Ltd's planned acquisition and merger with Smorgon. The announcement confirms earlier market speculation that BlueScope was buying a major stake in Smorgon. At the close of trading today, Smorgon (SSM.ASX) was up 0.07 aud or 4.12 p ...

LONDON (Reuters) - A group including four of the world's biggest private equity firms are preparing a 10 billion pound takeover bid for cable company NTL Inc. (NTLI.O: Quote, Profile, Research) , a person close to the deal said. The group is being led by U.S. buyout firm Providence and includes fellow U.S. Kohlberg Kravis Roberts (KKR.UL: Quote, Profile, Research) , Blackstone (BG.UL: Quote, Profile, Research) and Cinven (CINV.UL: Quote, Profile, Research) , of the UK. "It's still in the earl ...

- (Updating to include dealer comments, share prices) SYDNEY (XFN-ASIA) - Share prices closed sharply higher as investor sentiment jumped on takeover rumours, while a further rise in US stocks overnight and lower oil prices initiated the buying, dealers said. They said takeover speculation supported the indexes above 5,000 points after leading retailer Coles Myer confirmed it had been approached ...

Rashid Razzaq, Evening Standard17 August 2006 CITY bonuses have reached a new high as a record £19bn was paid out in rewards to bankers and traders. OTHER STORIES Multiplex beats Wembley blues National Savings raises rates Market report: Thursday preview MFI assembles 'dowry deal' to sell stores Scandal-hit Weir hoists its profits to £37m THE EDITOR'S PICKS In ...

LONDON (AFX) - Early, solid gains were registered in Baggeridge Brick, 43 pence higher at 210-1/2, after the UK's fourth largest brick manufacturer agreed the terms of a recommended takeover by Wienerberger AG which values the company at about 89.2 mln stg. Baggeridge has agreed the pre-conditional price of 216 pence per Baggeridge share, under which Wienerberger Finance Service BV, a wholly owne ...

Geoff Foster, Daily Mail17 August 2006 UP, up and away flew shares of Air Partner and the close was 32½p higher at 695p as a steady stream of buyers climbed aboard. OTHER STORIES Market report: Thursday preview Dull but a nice little earner Sunday newspaper share tips Help! I'm stuck with dead shares It's the Kaz way or the highway THE EDITOR'S PICKS Interest rate ...

CHICAGO (Dow Jones) -- Cosmetics giant Estee Lauder Cos. on Wednesday said a restructuring charge and a tax settlement pushed its fourth-quarter profit down 33%, and projected fiscal first-quarter earnings that were nearly half of what Wall Street was expecting. That sent Estee Lauder (EL) shares lower by as much as 5% in early trading before ending the session at $36.75, off 1.2%, or 43 cents. ...

Asian stocks rose Thursday morning after tamer-than-expected U.S. consumer price data lifted exporter shares, including Nissan and Toshiba, on hopes that easing inflation will prompt the Federal Reserve to hold U.S. interest rates firm. Japan's Nikkei 225 Averagefinished the morning session up 0.49% to 16,149.42. The broader Topix index was up as much as 0.63% to 1,639.96. Hong Kong's Hang S ...

SAN FRANCISCO (Dow Jones) -- Teck Cominco Ltd. dropped its latest bid for fellow Canadian mining company Inco Ltd. Wednesday, leaving richer rivals Phelps Dodge Corp. and Brazilian iron ore giant Companhia Vale do Rio Doce (CVRD) to duke it out over ownership of the world's second-biggest nickel miner. The move comes less than 24 hours after Teck Cominco (TEK.SV.B.T) announced what it called it ...

SAN FRANCISCO (Dow Jones) -- A hedge fund stepped up pressure on the directors and top management of Nabi Biopharmaceuticals on Wednesday, reiterating its call for the biotech company to be sold. Third Point LLC, an activist firm run by Daniel Loeb, became a major Nabi ( NABI) shareholder in April and in May Loeb first noted outside interest in acquiring the company. Third Point said on Wednesd ...