london times posts
FeedPosted Oct 31st 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), Sprint Nextel Corp (S), , Verizon Communications (VZ)
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MAJOR PAPERS:
- In a potential breakthrough for Google (NASDAQ: GOOG) , Verizon Communications (NYSE: VZ) and Vodaphone Group's (NYSE: VOD) Verizon Wireless, and Sprint Nextel Corporation (NYSE: S) are both in talks about Google's new mobile phone operating system, reported the Wall Street Journal (subscription required).
- Congress approved a seven year extension of ban on Internet tax, voting 402-0, and President Bush is expected to sign the bill, according to the Wall Street Journal.
- Stan O'Neal may be gone, but the SEC's enforcement staff is now looking at how Merrill Lynch (NYSE: MER) informed investors about its $8.4B write-down that forced O'Neal out, reported the Wall Street Journal.
- CLP Holdings (OTC: CLPHY), Hong Kong's largest power company, is planning to bid for electricity assets in Australia, India, Singapore and other countries in Southeast Asia, reported the Financial Times (subscription required).
OTHER PAPERS:
- The Star reported that life insurance company Manulife Financial Corporation (NYSE: MFC) is open to making acquisitions in Malaysia if suitable opportunities in the country arise, according to Manulife's senior executive vice-president and general manager for Asia, Robert A. Cook.
- The U.K. Times reported that British Airways' (OTC: BAIRY) plans to create a new airline offering flights between Europe and New York have been thrown into disarray after the Federal Aviation Administration threatened to block any increase of air traffic into New York's chronically congested JFK Airport.
Posted Sep 7th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, PepsiCo (PEP), NYSE Euronext (NYX)
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MAJOR PAPERS:
- "The behavior in what we are observing in the last seven weeks is identical in many respects to what we saw in 1998, what we saw in the stock market crash of 1987, I suspect what we saw in the land boom collapse of 1837 and certainly [the bank panic] 1907," said Alan Greenspan, the former Federal Reserve chairman, reported the Wall Street Journal.
- In an attempt to reverse slow North American sales of Gatorade, PepsiCo Inc (NYSE: PEP) is launching a low calorie version, reported the Wall Street Journal.
OTHER PAPERS:
- British arms manufacturer BAE Systems (OTC: BAESY) will reportedly receive a GBP20B deal next week to supply 72 Eurofighter Typhoon jets to Saudi Arabia, reported the U.K. Times.
- British telecom company Vodafone Group (NYSE: VOD) is considering buying the Italian and Spanish operations of Swedish telecom company Tele2, reported the Guardian.
- From BusinessWeek's "Inside Wall Street" column:
- NYSE Euronext Inc (NYSE: NYX) runs cash equity exchanges in five countries and six derivative markets worldwide, and Birkelbach Investment Securities feels the stock is "very undervalued."
- The outlook for Access Pharmaceuticals Inc (NASDAQ: ACCP) and ProLindac has vastly improved, said Steven Rouhandeh, CEO of SCO Financial Group, which owns a 30% stake in the company.
- NeoStem Inc (NYSE: NBS) is a tiny company that specializes in collecting, processing, and storing stem cells from healthy adults for their personal medical use, and Equity Dynamics is positive on the company's technology.
Posted Sep 4th 2007 9:13AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Boeing Co (BA),
MAJOR PAPERS:
- Alain Dassas has been named CFO of Nissan Motor Company (NASDAQ: NSANY), filing a position that has remained open for four years, reported the Wall Street Journal. Dassas runs the Formula One race car team at Renault, which has a 44% stake in Nissan.
OTHER PAPERS:
- Goldman Sachs Group (NYSE: GS), Morgan Stanley (NYSE: MS), Citigroup Inc (NYSE: C), Lehman Brothers Holdings (NYSE: LEH) and JP Morgan Chase and Company (NYSE: JPM), The banks involved in the underwriting of the TXU Corporation (NYSE: TXU) buyout by Kohlberg Kravis Roberts and TPG, have offered to pay the $1B breakup free to convince the private equity buyers to back out, according to the U.K. Times.
- GlaxoSmithKline (NYSE: GSK) is currently looking for someone to succeed CEO Jean-Pierre Garnier, who will retire next May, and investors are thought to want a CEO that will 'radically overhaul' the company and possible break it up, reported the Guardian.
- The Seattle Times reported that Boeing Company (NYSE: BA) is expected to announce that the first flight of its 787 Dreamliner jet will be delayed at least until late October, according to an inside source.
WEBSITES:
- Herb Greenberg noted in his MarketWatch blog yesterday that International Rectifier Corporation (NYSE: IRF) disclosed on Friday after the market close how it was committing fraud by having a subsidiary hide products already booked as revenue in "off-books warehouses."
Posted Aug 28th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Barclays plc ADS (BCS)
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MAJOR PAPERS:
- A contract awarded to American Superconductor Corporation (NASDAQ: AMSC) by the Department of Homeland Security wasn't put out for bid as is usually required, and is being investigated by the House's Committee on Energy and Commerce, as well as the Subcommittee on Oversight and Investigations, reported the Wall Street Journal (subscription required).
- The Wall Street Journal reported that private equity firm The Carlyle Group has been forced to lend a second $100M to mortgage fund Carlyle Capital, which has cancelled its dividend and is selling assets to meet margin calls, just two months after listing on the Euronext Amsterdam.
- U.S. consumers are defaulting on credit-card payments at a significantly higher rate than last year, raising the prospect that the problems in subprime mortgages will spread to other types of consumer debt, reported the Financial Times (subscription required).
- Barclays plc (NYSE: BCS) set up a $3B structured finance vehicle on behalf of German bank Sachsen less than three months before Sachsen's recent collapse, reported the Financial Times, which added that the finance vehicle set up by Barclays for the German bank had most of its assets invested in securities backed by prime and subprime U.S. mortgages.
OTHER PAPERS:
Posted Aug 24th 2007 9:10AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Ford Motor (F), Home Depot (HD), Diageo plc (DEO), BP p.l.c. ADS (BP)
MAJOR PAPERS:
- According to people familiar with the matter, Home Depot Inc (NYSE: HD) was close to accepting about $1.2B less for the sale of its wholesale distribution business to three private-equity firms, but there was uncertainty about whether the deal would close by last night's deadline, reported the Wall Street Journal (subscription required).
- Ford Motor Company (NYSE: F) CEO Alan Mulally urged the Federal Reserve to stimulate the economy and focus on economic growth, reported the Financial Times (subscription required).
OTHER PAPERS:
- British energy company BP plc (NYSE: BP) is warning that a fierce environmental campaign may force it to scrap a $3.8B expansion at one of America's biggest oil refineries, reported the U.K. Times.
- From BusinessWeek's "Inside Wall Street" column:
- Spirits company Diageo plc (NYSE: DEO) may be the perfect tonic for jittery markets, and could appreciate 20% to 25% annually for several years, said Randy Haase of Baron Fifth Avenue Growth Fund.
- As household budgets get squeezed, consumers are likely to spend more at discount retailers - and TJX Companies Inc (NYSE: TJX), owner of T.J . Maxx, is one of the best bets.
- In September, Arena Pharmaceuticals Inc (NASDAQ: ARNA) will announce 6-month safety review for its lead drug, lorcaserin, an obesity drug, which is in a large phase III test.
Posted Aug 23rd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Home Depot (HD), Motorola (MOT), IAC/InterActiveCorp (IACI), Bank of America (BAC),
MAJOR PAPERS:
- Bank of America Corporation (NYSE: BAC) is making a $2 billion equity investment in Countrywide Financial Corporation (NYSE: CFC), people familiar with the situation told the Wall Street Journal (subscription required).
- Ticket seller Ticketmaster, which is owned by IAC/InterActiveCorp (NASDAQ: IACI), has halted talks with concert promoter Live Nation Inc (NYSE: LYV), failing to reach a new, long-term agreement. The talks have "grown acrimonious" over the last year and a half, say people close to the situation, with Live Nation CEO Michael Rapino threatening to start his own ticketing company rather than renewing with Ticketmaster, according to the Wall Street Journal.
- Home Depot Inc's (NYSE: HD) sale of its wholesale supply division to a group of private equity firms is in doubt, due to uncertainty about the willingness of three investment banks to fund the deal, reported the Financial Times (subscription required).
- The Financial Times reported that Motorola Inc (NYSE: MOT) lost more than 7% of market share in the handset market in Q2, according to new figures.
OTHER PAPERS:
- Private equity firm Kohlberg Kravis Roberts has reportedly postponed its $1.25B initial public offering, after investors showed little interest in the IPO, reported the U.K. Times.
Posted Aug 20th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Altria Group (MO), American Express (AXP), ,
MAJOR PAPERS:
OTHER PAPERS:
- The New York Times reported that the market is having doubts about the deal for the Tribune Company (NYSE: TRB), despite confidence from those involved that the deal will be done.
- Just weeks after acquiring its first pension scheme, Citigroup Incorporated (NYSE: C) is looking for another; Citi is said to be looking at a European scheme that is worth about £200M, reported the U.K. Times.
- While the rugged cowboy has been the face for Altria Group Inc's (NYSE: MO) Philip Morris for many years now, the global brand could be fading, according to the U.K. Times.
- American Express Company (NYSE: AXP) has put its private banking business, which could be worth $400M-$500M, up for sale, according to the U.K. Times.
- The Telegraph reported that a subsidiary of HSBC Holdings (NYSE: HBC), the Hong Kong and Shanghai Banking Corporation, is in talks to buy a 51% controlling stake in Korea Exchange Bank, which would cost in the region of £2.5B.
Posted Aug 17th 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Wal-Mart (WMT), Citigroup Inc. (C), Sprint Nextel Corp (S), Merck and Co (MRK), Lilly (Eli) (LLY)
MAJOR PAPERS:
OTHER PAPERS:
- The CEO of Deutsche Telekom (NYSE: DT) , René Obermann, called for the European mobile phone networks to be consolidated, reported the Independent.
- Citigroup Incorporated (NYSE: C) is believed to be negotiating the purchase of a European pension plan worth about GBP200M, reported the U.K. Times.
- U.S. Treasury Secretary Henry Paulson said the economy and markets are "resilient," and can absorb any losses from the recent market instability, and has not raised the possibility of policy changes to deal with the markets' problems, reported the New York Times.
Posted Aug 15th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Home Depot (HD), Sony Corp ADR (SNE), Gap Inc (GPS)
MAJOR PAPERS:
- Home Depot Inc's (NYSE: HD) second quarter income drop of 15% may affect what will happen with the company's share buyback that is in part tied to the sale of its HD Supply wholesale business, reported the Wall Street Journal.
- Royal Dutch Shell (NYSE: RDS.A) may sell its 50% stake in BEB Transport & Speicher Service, a German natural gas pipeline firm, reported the Wall Street Journal.
- New Gap Inc (NYSE: GPS) CEO Glenn Murphy bought 150K shares of Gap stock for $2.3M Friday at an average price of $15.55, according to a Monday filing the SEC, reported Barron's Online's "Inside Scoop" column.
- The Financial Times reported that share prices and currencies in the Asia-Pacific region tumbled earlier today, as investors worried about the subprime mess pulled back from emerging markets.
OTHER PAPERS:
- Sony Corporation (NYSE: SNE) will announce plans to float its highly profitable financial services division, Sony Financial Holdings, in what could be Japan's biggest initial public offering this year, creating a company with a market value close to 1T yen, reported the U.K. Times.
Posted Aug 9th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Toyota Motor Corp. (TM), Campbell Soup (CPB), Chipotle Mexican Grill'A' (CMG), Oracle Corp (ORCL), Housing
MAJOR PAPERS:
- French bank BNP Paribas' Investment Partners unit is temporarily suspending three of its funds because of a lack of liquidity in the market as a result of the troubled subprime mortgage market, reported the Wall Street Journal (subscription required).
- Toyota Motor Corporation (NYSE: TM) will delay for one or two years its new high mileage hybrids with lithium-ion battery technology due to possible safety problems, reported the Wall Street Journal.
- Campbell Soup Company (NYSE: CPB) is putting its Godiva Chocolatier up for sale, reported the Wall Street Journal.
- Barron's Online's (subscription required) "Weekday Trader" argued that it may be time to take profits in Chipotle Mexican Grill Inc (NYSE: CMG), as the company hit a record high yesterday and trades at an enormous multiple.
- The Financial Times (subscription required) reported that MMC Energy Inc (NASDAQ: MMCE) is not entering the ethanol market as the company does not believe it can be profitable yet.
OTHER PAPERS:
- The U.K. Times reported that Oracle Corporation (NASDAQ: ORCL) president Charles Phillips said a global credit crunch will help Oracle as it will hurt competing private equity firms from raising cheap capital.
Posted Aug 6th 2007 9:10AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Kroger Co (KR), Sears Holdings (SHLD), Kohl's Corp (KSS), , Martha Stewart Living Omnimedia (MSO)
MAJOR PAPERS:
- According to the Wall Street Journal, citing a person familiar with the matter, Bear Stearns Companies Inc (NYSE: BSC) plans to give its top trader, Warren Spector, the ax.
- The Wall Street Journal reported that Kroger (NYSE: KR) announced last week that it would stop selling milk that carried synthetic hormones that are made by Monsanto Company (NYSE: MON), despite the FDA saying the hormones are safe.
- A group of financial experts predicted that the U.S. will enter a recession soon, due to inflation, the economic prescriptions of a Democratic president, and the housing market meltdown, reported Barron's Magazine.
OTHER PAPERS:
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