Financial News

LONDON (AFX) - The American investment giant Artisan is trying to halt the 940 mln stg management buyout of Countrywide PLC, the UK's largest estate agent, the Sunday Times reported. Artisan Partners, which represents 7 pct of Countrywide's shareholder register, has written to Christopher Sporborg, the group's outgoing chairman, and three other non-executive directors, saying the 490 pence take-o ...

LONDON (AFX) - HBOS PLC bank and Sir Tom Hunter, the multi-millionaire Scottish entrepreneur, are expected to table a revised takeover bid of more than 680 mln stg this week for Crest Nicholson, one of the UK's biggest housebuilders, the Sunday Times newspaper reported, citing City sources. In November, Crest spurned a 660 mln stg offer from HBOS/Hunter consortium, called Castle Bidco, valued at  ...

Tom McGhie, Mail on Sunday7 January 2007 British Airways is poised to give the go-ahead to a multi-billion-pound fleet renewal programme after finally reaching an agreement with unions on ways to tackle its £2.1bn pension deficit. DEAL: British Airways has reached an agreement with unions OTHER STORIES Record Christmas for M&S Market report: Friday close Market report: Yesterday's trading O'Leary hits back at 'dead sheep' Flights cancelled over skid fear  ...

LOS ANGELES (AFX) - Billionaire investor Kirk Kerkorian's Tracinda Corp. said Friday that approximately 444,573 shares of MGM Mirage were tendered in its effort to boost its majority stake in the casino operator. Tracinda said its purchase of the shares at $55 per share will raise its ownership stake in MGM to about 158.8 million share, or 55.9 percent, from about 158.4 million share, or 55.8 per ...

LONDON (AFX) - UK small caps showed strength at midday as the wider market failed to make gains, with Genosis a solid contender with in-line figures raising investor spirit. At midday the small cap index was better by 0.3 points at 3,938.4, as the wider market was hit by a raft of traders booking profits following strong gains at the beginning of the week, and New Year. Among the risers, investo ...

SYDNEY (XFN-ASIA) - Share prices closed lower after a second day of weakness in resource and energy stocks following further drops in metal and oil prices overnight, dealers said. They said other sectors were mixed as investors remain wary ahead of tonight's key employment data due in the US. The S&P/ASX 200 fell 12.8 points or 0.23 pct to close at 5,572.0, adding to the loss from Tuesday's  ...

SAN FRANCISCO (AFX) - Gap Inc. suffered through a miserable holiday shopping season that will decimate its fourth-quarter profit, raising investor hopes for a management shake-up or an opportunistic bid to buy the long-slumping retailer. The latest letdown, delivered Thursday as part of Gap's monthly update, caps a year of broken promises for the San Francisco-based company and its beleaguere ...

(Updates with full report) PARIS (AFX) - Share prices closed lower on further consolidation after Tuesday's gains amid mixed trade in the US, with heavyweight Total dragging the index lower as oil prices sink, dealers said. The CAC-40 index ended down 36.36 points or 0.65 pct at 5,574.56. 25 CAC-40 stocks ended down, 13 up and two were unchanged. Volume for the day was 5.5 bln eur. On the Mat ...

PARIS (AFX) - Share prices were lower late afternoon on consolidation after Tuesday's gains and as US stocks faltered at the open, with heavyweight Total dragging the index lower amid sinking oil prices, dealers said. At 3.55 pm the CAC-40 index was down 40.61 points or 0.72 pct at 5,570.31. Volume was 3.7 bln eur. On the Matif, January CAC-40 futures were down 42 points at 5,577. Total was th ...

(Updates with breakdown of reported scheme) PARIS (AFX) - LVMH CEO Bernard Arnault and Belgian financier Albert Frere are preparing a joint counterbid for Suez, whose agreed merger with Gaz de France is already facing a potential challenge from Francois Pinault, according to French weekly Marianne. Marianne, which did not name its source, said Finance Minister Thierry Breton is backing the tycoo ...