Financial News

By Jon Hopkins LONDON, Dec 22 (Reuters) - Britain's FTSE 100 share index closed 0.9 pct lower Monday, with commodity stocks heading the losers after a Chinese rate cut failed to allay sector worries about the extent of the global slowdown. At the close the FTSE 100 index was down 37.77 points at 4,249.16, above the session low of 4,219.82, having reached a peak of 4,305.43. The index closed dow ...

VANCOUVER, British Columbia, Dec 22 (Reuters) - Papermaker AbitibiBowater Inc, fighting to keep its listing on the New York Stock Exchange, said on Monday it expects an improvement in its fourth quarter and 2009 results. The company also said it has a preliminary deal to sell its 75 percent stake in Ontario hydro-electric asset owner ACH Limited Partnership for C$540 million, with the unna ...

By Michael Flaherty HONG KONG, Dec 23 (Reuters) - Fees from mergers and acquisitions, a major source of revenue for investment banks, fell by a third this year, as plunging global markets crippled financing for takeovers and led to a record amount of deals collapsing. The picture for M&A fees in the first half of next year isn't looking any brighter, investment bankers say, as few see ...

By Giancarlo Navach and Elisabetta Andreis MILAN, Dec 22 (Reuters) - A merger between Italian regional utilities Iride SpA and Enia SpA is facing a delay because they need more time to complete the steps leading to the planned tie-up, the utilities said on Monday. Iride and Enia agreed to merge in October aiming to create one of Italy's biggest multi-service utilities. "Due t ...

MUMBAI, Dec 22 (Reuters) - Indian construction firm Jaiprakash Associates said on Monday its board has approved the acquisition of units Jaypee Hotels, Jaypee Cement and Gujarat Anjan Cement. It will also acquire group firm Jaiprakash Enterprises, issuing three shares for every share held. In a statement to the stock exchange, Jaiprakash said shareholders of Jaypee Hotels, the list ...

Evening Standard22 December 2008, 2:23pm Aer Lingus today accused Ryanair boss Michael O'Leary of 'threats, contradictions and insinuations' as the war of words in the Irish airline takeover battle took to the air. WANT TO KNOW MORE? Ryanair gets new Aer Lingus bid off ground OTHER STORIES Toyota in red for first time in 70 years Stock market report: Monday latest Sunday newspa ...

MUMBAI, Dec 22 (Reuters) - The board of Indian construction firm Jaiprakash Associates has approved the acquisition of its unit Jaypee Hotels, the group said in a statement to the stock exchange. Under the absorption scheme, Jaypee shareholders will get one share in Jaiprakash Associates for every share held. The merger will be effective retrospectively from April 1, 2008. Jaipraka ...

(AFX UK Focus) 2008-12-22 12:46 BRIEF-Emageon makes demand to Health Systems Solutions regarding merger pact

By John Bowker LONDON, Dec 22 (Reuters) - Irish airline Aer Lingus pledged to be profitable in 2008 and beyond as it set out its defence to the 750 million euros ($1 billion) takeover bid from Ryanair. Aer Lingus, already nearly 30 percent owned by its low-cost rival, said in a statement on Monday the hostile offer significantly undervalued the group and said it could succeed as an indepe ...

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 11:36GMT 22Dec2008-Hypo Real Estate drops; restructuring plan announced ----------------------------------------------------------------------- Shares in Hypo Real Estate drop 1.3 percent as analysts and traders say the commercial property financier announced restructuring plans ...