Financial News

LONDON (AFX) - Shares in Carphone Warehouse plunged 13 pct today after Vodafone Group said it would no longer sell its mobile phone contracts through the retailer's chain of more than 700 stores across the UK. In an unexpected move, the mobile giant said Phones4u will become the exclusive third-party retailer for its UK contract customers. Analysts said the deal would tarnish Carphone's reputati ...

FRANKFURT (AFX) - German shares were higher midafternoon after a late Wall Street rebound last night and as MAN raised its offer for Swedish truckmaker Scania, and the German government agreed on a plan to possibly buy shares in EADS, dealers said. At 2.34 pm, the DAX 30 index was 19.26 points or 0.31 pct higher at 6,138.71, having moved between 6,112.51 and 6,140.01. The MDAX was at 8,681.66, u ...

LONDON (AFX) - Energy Partners Ltd said it and Stone Energy Corp have agreed to terminate the 1.4 bln usd merger deal the two companies announced on June 22. EPL, which will make an 8 mln usd payment to Stone Energy to compensate for the failure of the deal, said it is now exploring alternative options, including a sale of the company. "While the EPL board believed that the addition of Ston ...

LONDON (AFX) - Leading shares remained firm at midday, flirting with five-month highs, with miners helping to lift sentiment and a flurry of M&A rumours also helping to bolster blue chip stocks. The FTSE 250 provided the main focus of the day's news after Carphone Warehouse announced it has lost its Vodafone contract, dealers said. At 12.08 am, the FTSE 100 index was 15 points higher at 6,08 ...

LONDON (AFX) - German shares were higher mid-morning after a late Wall St rebound and as MAN lifted its offer for Swedish truckmaker, Scania, but gains were limited as newsflow was relatively thin, dealers said. At 10.41, the DAX was up 15.5 points, or 0.24 pct, at 6134.9, while the MDAX was up 20.25, or 0.23 pct, at 8654.20 and the tecDAX was up 4.48, or 0.67 pct, at 677.84 Consumer prices in G ...

(Adding more details, background) LONDON (AFX) - Vodafone Group said UK phone users will no longer be able to sign up for its contract mobile services at Carphone Warehouse stores. In an unexpected move, the mobile giant said Phones4u will become the exclusive third party retailer for Vodafone contract customers in the UK. Dumping Carphone Warehouse, which is the UK's largest chain of mobile ph ...

LONDON (AFX) - Leading shares were firmer in midmorning deals, flirting with five month highs, as a rebound in heavyweight miners and ongoing M&A hopes offset weakness in steel group Corus, dealers said. At 10.05 am, the FTSE 100 index was 19.0 points to the good at 6,092.5, climbing to levels last seen in May, mirroring the positive wider market sentiment. Miners helped to underpin blue chi ...

Robert Lea, Evening Standard12 October 2006 Labour's Chancellor-in-waiting, Ed Balls, has said he will not seek to put the heat on profiteering banks - just as the Competition Commission has accused banking groups of ripping off their customers in Northern Ireland. WANT TO KNOW MORE? COMMENT: Balls delivers his googly NEWS: Northern Irish Big Four slammed NEWS: Banks to be probed on c ...

The breakthrough for Mr Hargreaves came after he won the support of the Matalan board for an offer valuing the business at £817m.Mr Hargreaves, who already has control over the business as his family owns 53 per cent of shares, published the terms of the offer at the same time as a midday deadline for him to make a bid or walk away.The offer price of 200p a share is in line with market expectation ...

(Updating with full company details) LONDON (AFX) - Leading shares were higher in early deals, making headway after a flat open and following a late rebound on Wall Street yesterday, with strength in the UK mining sector offsetting a negative performance from Corus, dealers said. At 9.01 am, the FTSE 100 index was 17.8 points higher at 6,091.3, after closing up just 0.8 points at 6,073.5 yesterd ...