Financial News

LONDON (MarketWatch) -- European stocks advanced Thursday as buyers latched on to positive results from German industrial conglomerate Siemens AG and improved broker sentiment on France's Lafarge and U.K. bank Northern Rock. document.write(''); EARNINGSWATCH Franklin Resources net rises 32% Consolidated Edison sees FY06 earns $2.90-$3.10 a share First Data rallies on Western Union ...

By Steve Slater LONDON (Reuters) - Lloyds TSB said on Thursday that Victor Blank, a lawyer turned dealmaker who advised on some of the biggest takeovers of the 1980s, is to take over as its chairman in May. Blank will remain as chairman of GUS (GUS.L: Quote, Profile, Research) but plans to step down from the retailer when a proposed separation of its Argos Retail Group and Experian units takes place, which analysts expect later this year. Both Lloyds (LLOY.L: Quote, Profile, Research) and G ...

By Friedel Rother LONDON (Reuters) - The FTSE 100 pushed higher for a second straight session on Thursday, bolstered largely by banks on hopes for a strong earnings season from the sector and broker upgrades for Northern Rock. Shares in the UK's eighth-biggest bank (NRK.L: Quote, Profile, Research) topped the blue-chip leaderboard with a 3.4 percent rise as Citigroup upgraded the stock and as investors continued to be encouraged by Northern Rock's forecast-beating profits in 2005 and upbeat o ...

SAN ANTONIO (AP)--AT&T Inc. (T), the nation's largest telecommunications provider, on Thursday reported fourth-quarter net income that beat Wall Street expectations, reflecting growth in wireless, broadband and business services. AT&T said its net income totaled $1.66 billion, or 46 cents per share. Excluding merger-related, severance, and Cingular hurricane costs and a gain from tax sett ...

LONDON (Dow Jones) -- P&O shares climbed Thursday after the company's board favored a takeover bid from Singapore's PSA over one from a Dubai firm, saying it offered shareholders superior value. British port operator Peninsular and Oriental Steam Navigation Co. PLChad previously agreed to be bought by Dubai-based DP World for 443 pence per share. However, its board said Thursday that DP  ...

WASHINGTON (MarketWatch) -- AT&T Inc., formerly known as SBC Communications, posted sharply higher profit in the fourth-quarter as the company generated strong growth in its wireless and high-speed Internet operations. EARNINGSWATCH Tenneco swings to a gain AT&T profit rises on wireless, DSL UPS net rise to $1.05 billion Caterpillar income vaults to $846 million F ...

By Michael Smith and Dayan Candappa LONDON/DUBAI (Reuters) - Ports and ferries group P&O (PO.L: Quote, Profile, Research) has agreed to a $6.4 billion (3.6 billion pounds) takeover bid from Singapore's PSA International which would create the world's largest ports company, the British company said on Thursday. P&O's board said it had recommended the 470 pence-per-share cash offer by PSA, throwing out a previously agreed bid by Gulf state-backed Dubai Ports World. The widely expected PSA offe ...

LONDON (MarketWatch) -- P&O shares climbed Thursday after the company's board favored a takeover bid from Singapore's PSA over one from a Dubai firm, saying it offered shareholders superior value.   MARKETWATCH TOP NEWS Stock futures optimistic before GM, durable goods Siemens power bourses upwards Nokia profit slips 1% as phone prices decline Siemens rallies as  ...

By Friedel Rother LONDON (Reuters) - The biggest shares pushed higher for a second straight session on Thursday, bolstered largely by banks on hopes for a strong earnings season from the sector and broker upgrades for mortgage lender Northern Rock . Shares in the UK's eighth-biggest bank topped the blue-chip leaderboard with a 3.4 percent rise as Citigroup upgraded the stock and as investors continued to be encouraged by Northern Rock's forecast-beating profits in 2005 and upbeat outlook, repo ...

This is Money26 January 2006 THE sight of two state-run industrial goliaths going head-to-head for control of P&O excited investors and provided the FTSE 100 Index with momentum today. WANT TO KNOW MORE? POLL: Where will the FTSE 100 finish at the end of 2006? OTHER STORIES Merger mania sweeps the City Want to invest? Join the club New on the market Smaller companies report: Weds  ...