(Reuters) - TomTom makes portable navigation devices for cars and mapping software for handheld computers.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Sunday, July 22, 2007
Newcastle Coal Price Falls a Third Week as Demand From Asian Buyers Eases
(Bloomberg) -- The price of power-station coal at
Newcastle, the world's largest export harbor for the fuel, fell
for a third week after Asian customers bought sufficient
inventories to meet demand for the peak summer season.
Coal for immediate delivery dropped 70 cents to $66.30 a
metric ton in the week ended July 20 from the previous week,
according to the globalCOAL NEWC Index. Prices reached a record
$70.88 a ton for the week ended June 28 after storms along
Australia's east coast disrupted shipments.
Read more at Bloomberg Energy News
Newcastle, the world's largest export harbor for the fuel, fell
for a third week after Asian customers bought sufficient
inventories to meet demand for the peak summer season.
Coal for immediate delivery dropped 70 cents to $66.30 a
metric ton in the week ended July 20 from the previous week,
according to the globalCOAL NEWC Index. Prices reached a record
$70.88 a ton for the week ended June 28 after storms along
Australia's east coast disrupted shipments.
Read more at Bloomberg Energy News
Australian Dollar Set for Record Winning Streak as Commodities Prices Rise
(Bloomberg) -- The Australian dollar headed for a
12th day of gains, the longest winning streak since it was
allowed to trade freely in 1983, as the prices of raw materials
the country exports rose.
The currency traded near an 18-year high as the Westpac
Commodity Futures Index, an export weighted average of exchange-
traded commodity futures prices, advanced 4.5 percent to an all-
time high. The local dollar has surged 17 percent over the past
12 months as demand from China pushed up prices of raw materials,
which add about 14 percent to Australia's economy.
Read more at Bloomberg Currencies News
12th day of gains, the longest winning streak since it was
allowed to trade freely in 1983, as the prices of raw materials
the country exports rose.
The currency traded near an 18-year high as the Westpac
Commodity Futures Index, an export weighted average of exchange-
traded commodity futures prices, advanced 4.5 percent to an all-
time high. The local dollar has surged 17 percent over the past
12 months as demand from China pushed up prices of raw materials,
which add about 14 percent to Australia's economy.
Read more at Bloomberg Currencies News
Amgen, Borders, Exelon, Kaydon, Tessera Technologies: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.
Amgen Inc. (AMGN US): The company's anemia drugs will be
restricted at high doses for patients on kidney dialysis
treatment, according to a statement from the U.S. health program
for the elderly and disabled. The policy will provide greater
restrictions on dosages when a patient's level of hemoglobin
exceeds 13 grams per deciliter of blood, the Medicare agency
said. The stock rose 61 cents to $56.18 in regular trading.
Read more at Bloomberg Stocks News
whose shares may have unusual price changes in U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.
Amgen Inc. (AMGN US): The company's anemia drugs will be
restricted at high doses for patients on kidney dialysis
treatment, according to a statement from the U.S. health program
for the elderly and disabled. The policy will provide greater
restrictions on dosages when a patient's level of hemoglobin
exceeds 13 grams per deciliter of blood, the Medicare agency
said. The stock rose 61 cents to $56.18 in regular trading.
Read more at Bloomberg Stocks News
Turkish Markets May Rally After Erdogan's Justice Party Wins Re-Election
(Bloomberg) -- Turkish stocks, bonds and the lira
may gain after voters re-elected Prime Minister Recep Tayyip
Erdogan, giving him a mandate to extend policies that won Turkey
European Union membership talks and helped bring 21 straight
quarters of economic growth.
Erdogan's Justice and Development Party took 47 percent of
the vote with almost all ballots counted at 1 a.m. in the
capital Ankara, according to the state-run Anatolia News Agency.
That's likely to give the party 342 lawmakers in the 550-seat
parliament, CNN Turk television said.
Read more at Bloomberg Currencies News
may gain after voters re-elected Prime Minister Recep Tayyip
Erdogan, giving him a mandate to extend policies that won Turkey
European Union membership talks and helped bring 21 straight
quarters of economic growth.
Erdogan's Justice and Development Party took 47 percent of
the vote with almost all ballots counted at 1 a.m. in the
capital Ankara, according to the state-run Anatolia News Agency.
That's likely to give the party 342 lawmakers in the 550-seat
parliament, CNN Turk television said.
Read more at Bloomberg Currencies News
Dubai Aerospace Agrees to Acquire a Controlling Stake in Auckland Airport
(Bloomberg) -- Dubai Aerospace Enterprise, an
airport and aviation company owned by the Persian Gulf sheikdom,
agreed to buy a controlling stake in Auckland International
Airport Ltd., New Zealand's busiest gateway.
Auckland Airport shareholders will receive as much as
NZ$3.80 a share, 15 percent more than the stock traded at before
the offer, the company said in a statement today. The offer
values Auckland Airport at NZ$5.6 billion ($4.5 billion)
including stock, cash and debt, and is recommended by the board.
Read more at Bloomberg Emerging Markets News
airport and aviation company owned by the Persian Gulf sheikdom,
agreed to buy a controlling stake in Auckland International
Airport Ltd., New Zealand's busiest gateway.
Auckland Airport shareholders will receive as much as
NZ$3.80 a share, 15 percent more than the stock traded at before
the offer, the company said in a statement today. The offer
values Auckland Airport at NZ$5.6 billion ($4.5 billion)
including stock, cash and debt, and is recommended by the board.
Read more at Bloomberg Emerging Markets News
Asian Stocks Fall From a Record; Honda, Exporters Decline on U.S. Concern
(Bloomberg) -- Asian stocks fell, with a key
regional index dropping from a record. Honda Motor Co. paced a
decline among exporters as disappointing earnings from
Caterpillar Inc. dented confidence in the U.S. economy.
``Caterpillar's result suggested some earnings estimates
were too optimistic,'' said Norihiro Fujito, strategist at
Mitsubishi UFJ Securities Co. in Tokyo.
Read more at Bloomberg Stocks News
regional index dropping from a record. Honda Motor Co. paced a
decline among exporters as disappointing earnings from
Caterpillar Inc. dented confidence in the U.S. economy.
``Caterpillar's result suggested some earnings estimates
were too optimistic,'' said Norihiro Fujito, strategist at
Mitsubishi UFJ Securities Co. in Tokyo.
Read more at Bloomberg Stocks News
Yen Trades Near Record Low Against Euro; Newspaper Polls Signal Abe Defeat
(Bloomberg) -- The yen traded near a record low
against the euro after surveys conducted by five Japanese
newspapers suggested the ruling coalition will lose its majority
in upper house elections on July 29.
The yen weakened against 15 of the 16 most-active
currencies after the newspaper polls showed the opposition
Democratic Party of Japan gained in popularity on the governing
Liberal Democratic Party. Prime Minister Shinzo Abe is trying to
defend the majority of his coalition, which has tightened
controls on public spending in the past five years and guided
the economy to its longest postwar expansion.
Read more at Bloomberg Currencies News
against the euro after surveys conducted by five Japanese
newspapers suggested the ruling coalition will lose its majority
in upper house elections on July 29.
The yen weakened against 15 of the 16 most-active
currencies after the newspaper polls showed the opposition
Democratic Party of Japan gained in popularity on the governing
Liberal Democratic Party. Prime Minister Shinzo Abe is trying to
defend the majority of his coalition, which has tightened
controls on public spending in the past five years and guided
the economy to its longest postwar expansion.
Read more at Bloomberg Currencies News
Prosecutors seek medical records for Nacchio's son
(Reuters) - On July 6, Nacchio said in court filings in Denver federal
court that he deserves leniency because of his "prior good
works," and the health of two of his immediate family members,
including David Nacchio, his oldest son.
Assistant U.S. Attorney James Hearty said in the motion on
July 20 that Nacchio has submitted two letters from his son's
psychiatrist and the government should be allowed to review the
entire medical file to prepare a response at the sentencing.
Read more at Reuters.com Bonds News
court that he deserves leniency because of his "prior good
works," and the health of two of his immediate family members,
including David Nacchio, his oldest son.
Assistant U.S. Attorney James Hearty said in the motion on
July 20 that Nacchio has submitted two letters from his son's
psychiatrist and the government should be allowed to review the
entire medical file to prepare a response at the sentencing.
Read more at Reuters.com Bonds News
Japanese Yen, China Yuan, Indian Rupee, Thai Baht: Asian Currency Preview
(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.
Exchange rates are from the previous session.
Read more at Bloomberg Currencies News
reports may influence trading in Asian currencies today.
Exchange rates are from the previous session.
Read more at Bloomberg Currencies News
Ev3 Inc. to buy FoxHollow for $780 million
(Reuters) - On Friday, FoxHollow shares surged 9.3 percent to close at
$24.72 on Nasdaq. The transaction is expected to be completed
in the fourth quarter of 2007.
Under the terms of the deal, FoxHollow shareholders will
get 1.45 shares of Ev3 stock plus $2.75 in cash for each share
of FoxHollow they own. Ev3 shareholders would end up owning
about 59 percent of the combined company.
Read more at Reuters.com Mergers News
$24.72 on Nasdaq. The transaction is expected to be completed
in the fourth quarter of 2007.
Under the terms of the deal, FoxHollow shareholders will
get 1.45 shares of Ev3 stock plus $2.75 in cash for each share
of FoxHollow they own. Ev3 shareholders would end up owning
about 59 percent of the combined company.
Read more at Reuters.com Mergers News
Treasuries Attract Cash-Flush Pension Funds Loaded With Stock Market Gains
(Bloomberg) -- Treasuries are getting an unexpected
boost from pension funds controlling more than $14 trillion.
Fund managers for companies including General Motors Corp.
and Alcatel-Lucent are shifting away from stocks to prepare for
accounting changes requiring them to more fully disclose the
value of their holdings. Bonds are gaining favor as funds seek
to avoid wider swings in prices that may accompany equities as
the new rules take effect, possibly later this year.
Read more at Bloomberg Bonds News
boost from pension funds controlling more than $14 trillion.
Fund managers for companies including General Motors Corp.
and Alcatel-Lucent are shifting away from stocks to prepare for
accounting changes requiring them to more fully disclose the
value of their holdings. Bonds are gaining favor as funds seek
to avoid wider swings in prices that may accompany equities as
the new rules take effect, possibly later this year.
Read more at Bloomberg Bonds News
Japan state pension to cut corp bond buying -Nikkei
(Reuters) - The Nikkei said the GPIF, which manages about 82 trillion
yen of bonds and stocks, is likely to keep
corporate bond holdings at about 3 trillion to 4 trillion yen.
The GPIF intends to replace maturing corporate debt, which
means purchases would total about 400 billion yen a year -- less
than half the current amount, the report said this weekend.
Read more at Reuters.com Bonds News
yen of bonds and stocks, is likely to keep
corporate bond holdings at about 3 trillion to 4 trillion yen.
The GPIF intends to replace maturing corporate debt, which
means purchases would total about 400 billion yen a year -- less
than half the current amount, the report said this weekend.
Read more at Reuters.com Bonds News
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