Financial News

India's Hindalco to buy US-based Novelis for 6 bln usd
11 Feb 2007 source: iii.co.uk

MUMBAI (AFX) - India's largest aluminium producer, Hindalco Industries, said it wil buy the US-based firm Novelis for 6 bln usd in the latest large foreign takeover by an Indian firm. The all-cash deal follows Tata Steel's 7.0-bln-stg buyout last month of Anglo-Dutch producer Corus, the largest-ever foreign acquisition by an Indian company. "This is India's largest acquisition of a North Am ...

Why the Glaxo boss is smiling
11 Feb 2007 source: thisismoney.co.uk

Lauren Mills, Mail on Sunday11 February 2007 Gone is the famous impatience, intolerance, even imperiousness. Jean-Pierre Garnier, the French-born chief executive of GlaxoSmithKline, appears relaxed and happy. Very happy. NOMAD: The Frenchman says his roots are now in America WANT TO KNOW MORE? MARKET DATA: Glaxo shares OTHER STORIES Directors escape board bans Market report: Friday close Yesterday's trading: Car hire firm hits the skids Fox's at risk in biscuit b ...

LSE set for Tokyo tie-up after fighting off Nasdaq bid
11 Feb 2007 source: iii.co.uk

LONDON (XFN-ASIA) - The London Stock Exchange, fresh from fending off a takeover from US rival Nasdaq, said that an agreement would be reached "in the near future" on a strategic alliance with its Tokyo counterpart. "We have ongoing discussions with the Tokyo Stock Exchange about areas of possible business collaboration," an LSE spokesman said. "We will make an announcem ...

London may link up with NYSE
11 Feb 2007 source: thisismoney.co.uk

Tom McGhie, Mail on Sunday11 February 2007 The London Stock Exchange will consider linking up with its New York counterpart and Euronext after successfully seeing off Nasdaq's hostile £2.7bn bid. New York Stock Exchange chief executive John Thain recently refused to rule out a merger with the LSE. TRIUMPH: LSE chief executive Clara Furse has overseen rise in share price from 450p to 1344¼p OTHER STORIES Directors escape board bans Market report: Friday close ...

FirstGroup in £.9bn deal for US's yellow school bus giant
10 Feb 2007 source: yorkshiretoday.co.uk

The deal will see Aberdeen-based FirstGroup become the biggest single school bus operator in the US, combining its existing Stateside company First Student, which it acquired seven years ago, with Laidlaw's school bus business, which operates across 37 states in America and six provinces in Canada.FirstGroup will issue £200m of new shares to finance the deal, which it said was not conditional on t ...

Can the FTSE run continue?
10 Feb 2007 source: thisismoney.co.uk

Michael Clarke, This is Money10 February 2007 The FTSE 100 closed the week on a six-year high – but fears are growing over whether the index can continue on its upwards surge. WHERE NEXT?: Can the FTSE 100 beat its record high? WANT TO KNOW MORE? DATA: The latest stock market data FTSE: Winners and losers READER SERVICE: Share dealing MARKET REPORT: Friday close POLL: Where will the FTSE 100 be at the end of 2007? OTHER STORIES Mortgage fees rocket by 20% Mar ...

9 Feb 2007 source: iii.co.uk

LONDON (AFX) - Here are the top stories on AFX News JJB Sports profit estimates likely to be revised following House of Lords ruling LONDON (AFX) - Analysts are likely to downgrade their profit forecasts for JJB Sports PLC this afternoon after the House of Lords turned down the group's application for leave to appeal over allegations of price-fixing on certain replica kit products. The sport ...

9 Feb 2007 source: iii.co.uk

LONDON (AFX) - Here are the top stories on AFX News DaimlerChrysler cuts EADS stake to 15 pct in 1.5 bln eur deal STUTTGART (AFX) - DaimlerChrysler AG said it is cutting its EADS NV holding to 15 pct from 22.5 pct by transferring a 7.5 pct stake to a pool of investors in a 1.5 bln eur deal. The transaction will be executed in the first quarter of 2007. Alcatel-Lucent swings to net loss in Q ...

Stock futures inch higher
9 Feb 2007 source: iii.co.uk

(AFX) - U.S. stock-market futures inched higher on Friday, with the Big Three auto makers all winning broker upgrades and with the eagerly awaited first day of trade for hedge-fund operator Fortress Investment Group LLC on deck. S&P 500 futures edged up 0.6 of a point at 1,454.50 and Nasdaq 100 futures rose 0.75 of a point at 1,822.50. Dow industrial futures 6 points. HSBC Holdings PLC's war ...

9 Feb 2007 source: iii.co.uk

LONDON (AFX) - Here are the top stories on AFX News Alcatel-Lucent swings to net loss in Q4, sees sales pressure continuing PARIS (AFX) - Alcatel-Lucent said it swung into a loss in the fourth quarter thanks to heavy restructuring and impairment charges and warned fourth-quarter sales pressure in the US will spill over into early 2007. The group announced it plans to slash 12,500 jobs over t ...

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