Financial News

(AFX UK Focus) 2009-07-22 20:41 BRIEF-Lyondell creditors file lawsuit over Basell merger

NEW YORK, July 22 (Reuters) - Bankrate Inc, which operates Bankrate.com and other personal finance websites, said on Wednesday it agreed to a $571 million buyout by private equity firm Apax Partners. Apax plans to pay $28.50 per share in cash for Bankrate, a 15.8 percent premium over the company's Tuesday closing price, starting with a tender offer for outstanding shares. Bankrate  ...

This is Money22 July 2009, 2:51pm Data Government contracts to produce 195m doses of the flu treatment Relenza could not help GlaxoSmithKline avoid a second quarter dip in profits. Shot in the arm: GSK will benefit from increased cases of influenza. WANT TO KNOW MORE? Glaxo tastes bitter pill Glaxo gets cream with £2.5bn purchase Glaxo ready to axe 10,000 in global cull OTHER STORIES How to save safely with banks and building societies Brief overview of bank a ...

NEW YORK, July 22 (Reuters) - Wells Fargo & Co on Wednesday said quarterly profit increased 47 percent as strong mortgage banking results and the acquisition of Wachovia Corp offset rising credit losses. The San Francisco-based bank has been adding market share since buying Wachovia on Dec. 31 and as rivals, including Countrywide Financial Corp, reduce risk or vanish. Many anal ...

MOSCOW, July 21 (Reuters) - Russian magnate Mikhail Prokhorov's Onexim Group said on Tuesday it had agreed to buy 51 percent of business news provider RBC , Russia's most public victim of the financial squeeze on media, for $80 million. Onexim said in a statement it and RBC would propose to RBC's creditors to accept 20 percent of outstanding debt in cash, write down some debt and restructu ...

By Jonathan Lynn GENEVA, July 22 (Reuters) - Big companies expect their foreign direct investment to recover slowly in 2010 and gather momentum in 2011 after falling this year in the economic crisis, a U.N. agency said in a report released on Wednesday. The survey of 241 major multinationals by the United Nations Conference on Trade and Development (UNCTAD) complements recent studies by t ...

Lucy Farndon, Daily Mail21 July 2009, 9:31pm Reader comments (1) | Data Morrisons is trouncing its rivals as the Bradford-based chain's emphasis on fresh food proves irresistible to recession-hit shoppers. Morrisons: Profits expected to beat expectations. WANT TO KNOW MORE? Cut-price approach pays off for Morrisons Upbeat Morrisons' pension shock for staff OTHER STORIES A brief overview of the strength of your bank or building society How to save safely with bank ...

LONDON, July 22 (Reuters) - British drugs agency NICE has recommended Roche's top-selling cancer drug MabThera as a first line treatment for the most common form of adult leukaemia. The National Institute for Health and Clinical Excellence (NICE) said in a statement on Wednesday it recommended the drug in combination with chemotherapy agents fludarabine and cyclophosphamide for chronic lymp ...

Q2 EPS LOSS C$0.06, VS C$0.89 PROFIT A YEAR AGO * Q2 oil sands output 301,000 bpd, vs 174,600 bpd * Says Petro-Canada deal to be effective Aug. 1 * Sees 2009 oil sands production average of 300,000 bpd (Adds detail) July 22 (Reuters) - Suncor Energy Inc, which is taking over Petro-Canada to become Canada's largest oil company, swung to a second-quarter loss, hit b ...

Geoff Foster, Daily Mail21 July 2009, 9:59pm No less than four international financial services groups are battling for control of Earthport. Geoff Foster: The FTSE is on course for its longest winning streak since August 2007. WANT TO KNOW MORE? Newspaper and magazine share tips Daily Mail share tips: SThree & Nighthawk Energy OTHER STORIES A brief overview of the strength of your bank or building society How to save safely with banks and building societies ...