Financial News

LONDON (AFX) - Global rating agencies are preparing to downgrade BAA PLC bonds after last week's terror threats, which could lead to higher security costs and lower duty-free revenues, according to a report in The Times. That could result in interest costs on BAA's 4.7 bln stg bonds surging as Grupo Ferrovial SA, the airport group's new owner, embarks on a critical refinancing. The Times says BA ...

HONG KONG (Dow Jones) -- Asian markets were higher Wednesday morning, with Japanese exporters including Hitachi and NEC rising sharply after milder-than- expected U.S. inflation data gave hope that interest rates would continue to hold steady. The Nikkei 225 Indexfinished the morning session up 1.14% to 15,997.03. The broader Topix index was up 1.13% at 1,623.25. Hong Kong's Hang Seng Index  ...

By Janet McGurty NEW YORK (Reuters) - BP's strategy of quick growth and higher profits through acquisitions might have upset the company's safety procedures and helped cause recent high-profile accidents, experts said. The international major was forced to cut output last week at Alaska's Prudhoe Bay, the largest U.S. oil field, because of a leak in a badly corroded pipeline. The event further  ...

ST. LOUIS (AFX) - Monsanto Co. will pay $1.5 billion in cash to purchase Delta and Pine Land Co. in a merger of two of the world's largest seed companies, a move that would end a long-standing legal dispute stemming from a failed merger eight years ago. "It's admittedly a transaction with some history, and some complexity," Monsanto chairman, president and chief executive Hugh Grant sai ...

HONG KONG (Dow Jones) -- Japanese shares advanced Monday afternoon as clothing chain operator Fast Retailing and tire-maker Bridgestone scored large gains and early morning blackouts in Tokyo failed to disrupt trading on the city's stock exchange. The Nikkei 225 Averagewas up as much as 1.45% to 15,790.82 in afternoon trading. The Topix index of Tokyo-listed shares was up as much as 1.03% to 1, ...

Japanese shares gained ground Monday as clothing chain operator Fast Retailing and tire-maker Bridgestone scored large gains. Morning blackouts in Tokyo followed by a shutdown of the benchmark Nikkei stock index failed to dampen sentiment. The Nikkei 225 Averagewas up 1.45% to 15,790.82 at 1:25 p.m.Tokyo time when a computer error caused by the blackout caused the index to stop updating. By  ...

Harrah's Entertainment, worth around £6bn, is reportedly studying a proposal to buy Stanley Leisure and London Clubs International – two companies involved in their own £634m merger talks.Stanley operates Crockfords, The Colony Club, The Mint and The Palm Beach casinos in London – as well as 41 sites in cities including Bristol, Liverpool and Birmingham. LCI operates four casinos in London includi ...

LONDON (AFX) - Leading shares are tipped to start the week higher as news the government has lowered its terrorism alert level overnight helps to offset a weak close on Wall Street on Friday, dealers said. According to Finspreads, the FTSE 100 will open around 35 points firmer at 5,855, having closed on Friday down 3.30 at 5,820.10. Meanwhile, Wall Street also ended last week under pressure as i ...

LONDON (AFX) - Casino groups Stanley Leisure PLC and London Clubs International PLC, which are currently in merger talks, have attracted the attention of the world's biggest gaming company Harrah's Entertainment, the Sunday Times reported, citing sources in the gaming community. The New York-listed group, valued at 11 bln usd (5.8 bln stg), is studying a proposal to buy the two groups as a way in ...