Financial News

By Peter Marsh in LondonPublished: February 3 2006 20:20 | Last updated: February 3 2006 20:20Arcelor on Friday night said it would be ready to receive a written proposal from Mittal Steel about an unspecified "industrial project" related to the steel industry. It might be regarded as a sign that the Luxembourg company is softening its position in its effort to sMittal Steel about an unspecified  ...

CHICAGO (MarketWatch) -Media and entertainment shares were mixed Friday, but Time Warner bucked the trend.   MARKETWATCH TOP NEWS Dollar gets a lift from Jan. unemployment report U.S. stocks end lower; post weekly loss on rate worries Gateway slumps 15%; sales prove a disappointment Amazon shares fall 10% as sales, outlook disappoint U.S. Dec. factory orders rise 1.1 ...

MADRID (Reuters) - Utility company Centrica (CNA.L: Quote, Profile, Research) said on Friday Gas Natural's (GAS.MC: Quote, Profile, Research) 22.7 billion-euro (15.5 billion-pound) bid for Endesa (ELE.MC: Quote, Profile, Research) threatened competition in Spain, and it was reconsidering its small operation in the country. Spain's government earlier gave Gas Natural the go-ahead to buy Endesa, the country's largest energy group, a decision Centrica said risked exacerbating the dominant posit ...

LONDON (Reuters) - Singapore's PSA International is expected to make its next move in the $7 billion (4 billion-pound) bidding war for P&O (PO.L: Quote, Profile, Research) next week but rival Dubai Ports World is determined to win control of the ports and ferries group, sources familiar with the matter said on Friday. The sources said P&A and its advisers were still undecided about whether to raise their offer ahead of a February 13 meeting for shareholders to vote on the takeover. "They are ...

Champagne corks are popping around the City as bankers and traders begin to rake in another year of generous bonuses. And with a return to healthy levels of merger and acquisition activity and a buoyant stock market, many are celebrating bumper payouts. // According the Centre of Economics and Business Research, the average bonus paid this year will be £23,000 – up 13 per cent on last year. But many financial advisers have been opening their doors to clients clutching multimillion pound cheques ...

SAN FRANCISCO (MarketWatch) -- Canadian stocks managed slight gains in Friday afternoon trading but the weight of slumping mining and metals shares capped the market's growth. EARNINGSWATCH Gateway slumps 15%; sales prove a disappointment THQ shares higher in wake of results, updated outlook Amazon shares fall; Net sector trades lower Disney, News Corp. results on deck Fre ...

Britain's biggest car dealer, Pendragon, has raised its offer for rival Reg Vardy to about £506m. The offer tops a rival bid from the Lookers dealership network, which had an offer of £492m accepted by Reg Vardy's management last month. Pendragon has proposed resolving the takeover battle by offering to merge with Lookers once it had acquired Reg Vardy. But both Lookers and Reg Vardy rebuffed the merger proposal. Tough market Pendragon has said a three-way tie up would deliver sig ...

By David Cullen LONDON (Reuters) - The government said on Friday it would take a hard look at any bid for the country's biggest gas provider Centrica from Russia's Gazprom, with security of supply a growing concern as UK stocks dwindle. State-controlled Gazprom was at the centre of a political storm in January when it cut gas supplies to Ukraine over a price dispute, leading to shortfalls across Europe. "If Gazprom wanted to buy Centrica, then they would face robust scrutiny from the system t ...

LONDON (Reuters) - Britain's biggest car dealer, Pendragon, has until March 10 to announce a firm intention to make an offer for smaller rival Lookers, the Takeover Panel said on Friday. On January 27, Pendragon (PDG.L: Quote, Profile, Research) proposed resolving a bid battle for a third car dealer by pressing ahead with its offer for Reg Vardy (VDY.L: Quote, Profile, Research) and merging with rival bidder Lookers. Lookers rejected the deal -- 1.15 new Pendragon shares for each Lookers sha ...

LONDON (Reuters) - The Office of Fair Trading said on Friday it would not refer Macquarie Bank's proposed acquisition of the London Stock Exchange to the Competition Commission. "The OFT has decided, on the information currently available to it, not to refer the ... anticipated acquisition by Macquarie London Exchange Investments Ltd of London Stock Exchange (LSE.L: Quote, Profile, Research) ," the regulator said in a statement. On January 31, LSE said it continued to recommend strongly that i ...