Financial News

NEW YORK (Reuters) - Bank of America Corp Chief Executive Kenneth Lewis spent about $1.2 million to buy 200,000 common shares on Tuesday, four days after the largest U.S. bank posted its first quarterly loss in 17 years. The share purchases by Lewis and five directors suggest confidence in prospects for the bank, which last week posted a $1.79 billion fourth-quarter loss and took a $20 bill ...

By Franklin Paul NEW YORK, Jan 21 (Reuters) - Sirius XM Radio Inc plans to increase prices for subscribers with multiple accounts and begin to charge for its online music feed, moves that may help the pay-radio service meet looming debt payments. While it is keeping its core rates unchanged -- a condition to which Sirius and XM Satellite Radio agreed last year in order to close their merg ...

FRANKFURT, Jan 21 (Reuters) - Deutsche Postbank AG declined to comment on Wednesday on a report it was in talks with Germany's SoFFin bank rescue fund, but said it may divest its structured credit portfolio. "We have already said several times that we would be interested in divesting our structured credit portfolio if conditions are right," said a spokesman for the bank, which i ...

KIEV, Jan 21 (Reuters) - Ukraine's central bank said on Wednesday it had placed medium-sized bank Ukrprombank in receivership, protecting it from its creditors for six months. Ukrprombank is the country's 15th largest bank by assets, according to the latest central bank data released in October, 2008. There are over 180 banks in Ukraine. "The decision comes into force from Jan ...

FRANKFURT, Jan 21 (Reuters) - Deutsche Postbank AG declined to comment on Wednesday on a report it was in talks with Germany's SoFFin bank rescue fund, but said it may divest its structured credit portfolio. "We have already said several times that we would be interested in divesting our structured credit portfolio if conditions are right," said a spokesman for the bank, which i ...

(Repeats to additional subscribers) (Adds ProMOS Technologies, Tekfen Holding) Jan 21 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Wednesday. (For Reuters columns on deals, click on * BALL BEARINGS MAKER SCHAEFFLER DENIED A NEWSPAPER REPORT it is seeking complete control over automotive supplier  ...

DUBLIN, Jan 21 (Reuters) - The head of Irish Life & Permanent said on Wednesday he was confident there would be no further nationalisation of Irish banks following the state takeover of Anglo Irish Bank. "I think there is no probability at all of that happening," IL&P Chief Executive Denis Casey told reporters after a speaking engagement in Dublin. Irish lawmakers ...

Jan 21 (Reuters) - Nanogen Inc said it was unlikely that it will get stockholder approval or working capital financing to complete its proposed merger with Elitech Group before the deadline, sending its shares down 15 percent. The diagnostics products maker said it had obtained permission from Elitech to explore other alternatives as both firms believe closing conditions to the deal will n ...

DUBLIN, Jan 21 (Reuters) - The head of Irish Life & Permanent said on Wednesday he was confident there would be no further nationalisation of Irish banks following the state takeover of Anglo Irish Bank. "I think there is no probability at all of that happening," IL&P Chief Executive Denis Casey told reporters after a speaking engagement in Dublin. He added that b ...

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 14:32GMT 21Jan2009-Europe shares pare losses as Wall St. gains ------------------------------------------------------------- European shares pare losses after a higher opening on Wall Street. The FTSEurofirst 300 index of top European shares is down 0.4 percent at 771.74 points ...