Financial News

LONDON, Feb 5 (Reuters) - Russian gold producer Peter Hambro Mining Plc will issue shares to raise 55 million pounds ($79.2 million) and is also close to an all-share takeover offer for iron ore company Aricom, the firm said on Thursday. "Agreement has not yet been reached on the exchange ratio for the merger and certain other terms and there can therefore be no certainty that the mer ...

LONDON, Feb 5 (Reuters) - Russian gold producer Peter Hambro Mining Plc is close to agreeing a takeover of iron ore producer Aricom with an all-share offer equivalent to between 34 and 37 pence, the firm said on Thursday. Aricom's shares closed on Wednesday at 24 pence, so the potential offer would represent a premium of up to 54 percent. Hambro also announced plans to raise 55 mil ...

LONDON, Feb 5 (Reuters) - Europe's biggest travel firm TUI Travel said on Thursday it was well positioned to perform in line with its expectations for the current year, despite the challenging trading environment. The group, formed in 2007 from the merger of TUI AG's travel division and Britain's First Choice, said it had seen stronger consumer demand for summer bookings over the last fou ...

LONDON, Feb 5 (Reuters) - Europe's biggest travel firm TUI Travel said on Thursday it is well positioned to perform in line with its expectations for the current year despite a challenging trading environment. The group, formed in 2007 from the merger of TUI AG's travel division and Britain's First Choice, said it had seen stronger consumer demand for summer bookings over the last four wee ...

LONDON, Feb 5 (Reuters) - Peter Hambro Mining PLC: PROPOSED PLACING TO RAISE APPROXIMATELY £55 MILLION DISCUSSIONS ARE AT AN ADVANCED STAGE FOR A RECOMMENDED MERGER BETWEEN PHM AND Aricom AGREEMENT HAS NOT YET BEEN REACHED ON THE EXCHANGE RATIO FOR THE MERGER AND certain other terms WORKING TOWARDS AGREEMENT ON ONE FULLY PAID PHM SHARE IN EXCHANGE FOR BETWEEN 15. ...

NEW YORK, Feb 4 (Reuters) - Federal officials pushed Bank of America Corp hard to complete its acquisition of Merrill Lynch even as credit losses mounted at the troubled investment bank, the Wall Street Journal reported on Wednesday, without citing any named sources. Bank of America arguably saved Merrill from collapse in September when it quickly struck a merger agreement the same weekend ...

SHANGHAI, Feb 5 (Reuters) - Shanghai Airlines Co said its shares will be suspended starting on Thursday as it engages in discussions with shareholders a plan aimed at reducing the asset liability ratio. "It is expected that such a plan will have a great impact on the company," the regional carrier said in a statement published in the official China Securities Journal. Sha ...

SEOUL, Feb 5 (Reuters) - Hynix Semiconductor, the world's No. 2 computer memory chip maker, logged its fifth straight quarterly loss on Thursday as chip prices plunged and output shrank amid the industry's worst downturn. After suffering a lengthy slump that pummeled chip prices below costs and given the bleak outlook for consumer demand, memory chip makers are now pinning hopes on the sec ...