| Takeover fever remains high as Cemex ups the ante in its bid for ...
TAKEOVER activity fuelled the sharemarket's rise to a new high yesterday, as Cemex announced a sweetened, recommended $A18.7 billion offer for Rinker, Coles said the Kohlberg Kravis Roberts consortium was signing up to battle the Wesfarmers-Macquarie syndicate for the right to mount a $20 billion takeover of the retail group, and Airline Partners Australia mulled revamping its $11 billion Qantas offer. The deals are part of a wave of takeover activity that constitutes one of the great unknowables of the sharemarket boom. Bids of unprecedented magnitude are converting quality shares into cash, and most of it is jostling with superannuation money and cash freed up by share buybacks and dividends to find a new home in an equity pool that is becoming shallower by the day. Just how important the deal flow is to the share-price boom will only become apparent when the deals dry up.
Mellon Appoints Daniel V. Hugo as Vice President and Sales ...
DENVER, April 4 /PRNewswire-FirstCall/ -- Mellon Financial Corporation announced that Daniel V. Hugo has joined its Private Wealth Management group as vice president and sales director. In this role, he will develop new business opportunities to deliver Mellon's wealth planning, investment management, and financial management services to high net worth individuals and families in the Rocky Mountain region. He is based in Denver and reports to regional president Jon Stuck. "Dan has the depth of experience, regional knowledge, and community involvement to make significant contributions to our .
WHO's Birthday celebrated at BITS Pilani
World Health Day marks the founding of the WHO and is an occasion to raise awareness of key global health issues. This year's theme is international health security. The aim of the Day is to urge governments, organizations and businessmen to "Invest in health, build a safer future". In today's mobile, interdependent, and interconnected world, threats arising from emerging and epidemic-prone diseases, climate change, and natural disasters affect all countries. This universal vulnerability creates a need for collective defences and for shared responsibility. Therefore, this year's theme is international health security with a focus on urging governments, organizations and businesses to invest in health. Its known that walking has so many health benefits, the stress management benefits are practically just gravy! A morning walk can get you ready for your day, help you sleep better at night, lower your stress level, and reduce your risk of numerous health conditions.
Fund aims to stand out in sideways or down markets
For retail-class investors with an appetite for alternative strategies, there arent many options more true to the methodologies applied by hedge fund managers than the Arbitrage Fund (ARBFX). This isnt to suggest that the registered mutual fund is for everyone. If that were the case, the funds assets wouldnt be stalled in the $165 million range after more than six years in business. The fund, managed by John Orrico through his New York investment boutique, Water Island Capital LLC, offers exposure to a pure merger arbitrage strategy. What distinguishes this mutual fund from a hedge fund that practices the same strategy is the absence of leverage and performance-related fees. Also, as with most hedge funds, the strategy is less about knocking the cover off the ball than it is about taking advantage of what the market offers.
CHAMROUSSE 1750: the re-emergence of an Olympic Village
/24-7PressRelease/ - PAPHOS, CYPRUS, March 17, 2007 - 1. There has been a moratorium in place for many years on new building at the top of Chamrousse 1750. But with a recent surge in tourist demand for small, intimate high altitude ski resorts - and rental demand outstripping the number of available beds - the leading French Constructors are fighting and bidding against each other to secure the new ski-in-ski-out building plots. The prime plots backing onto the piste at Chamrousse 1750 have just been released this Winter. 2. Chamrousse 1750 is a snow-sure, high altitude ski resort. Its 92km of pistes are tree-lined, and the panoramas from this high part of the village are some of the most dramatic and magical you will find in the Alps. The original Chalets and apartment buildings are undergoing renovation and a complete village makeover has just started.
Best Buy Q4 earnings climb 18.5 per cent, Circuit City swings to ...
MINNEAPOLIS (AP) - Best Buy pulled further ahead of consumer electronics retail rival Circuit City on Wednesday, reporting an 18.5 per cent rise in its fourth-quarter profit while Circuit City swung to a loss. Best Buy Co. Inc., North America's biggest consumer electronics chain, said it earned US$763 million, or $1.55 per share, during the quarter that ended March 3, up from $644 million, or $1.29 per share, in the three months ended Feb. 25, 2006. Revenue rose 21 per cent to $12.9 billion from $10.69 billion a year ago, driven by store openings and a quarter that was a week longer than last year's. Analysts surveyed by Thomson Financial were expecting earnings of $1.52 per share on revenue of $12.67 billion. Best Buy, which owns the Best Buy and Future Shop chains in Canada, also announced that it would carry Apple computers in 200 stores by this fall.
FGDC invites public comment on draft National Shoreline Data ...
Comments are critical to assure that the draft National Shoreline Data Content Standard will meet the needs of the geographic information community. The location of our national shoreline is a baseline for legal boundaries, nautical charts, and commercial and natural resource utilization and management. Effective use of shoreline data requires a highly defined logical data structure that is interoperable, efficient, and applicable to a broad base of government and private sector demands. Current practices and protocols have led to a highly variable shoreline data infrastructure that limits agencies and organizations from effectively sharing and using shoreline coincident data. The draft National Shoreline Data Content Standard ties related protocols and existing content together in a new model using recognized reference material, definitions, semantics, and structures.
Bell Canada buyout talk sends stock skyward
Shares of Bell Canada Enterprises Inc. shot skyward Tuesday on talk that its largest single shareholder planned the biggest takeover in history. Citing unnamed sources, Canada's two national dailies and the New York Times said the Ontario Teachers' Pension Plan was "frustrated" by the company's stagnant stock value and would lead a consortium to privatize Canada's largest telecom. The Globe and Mail said the Teachers and the US-based Providence Equity Partners Inc. of Rhode Island were willing to offer 32 billion dollars, or 40 dollars per share, for BCE, the parent of Bell Canada. The New York Times reported that the Teachers had approached the Caisse de Depot et Placement du Quebec and the Canada Pension Plan Investment Board about making a 45 billion-dollar offer for Bell Canada, saying it would be "the largest buyout in history." The National Post said the Teachers had talked with "a number of institutional shareholders" in recent months about a possible deal to takeover BCE.
Ethopian Development Bank secured 25M euro loan
Addis Ababa, April 9 (NNN-ENA) The Development Bank of Ethiopia (DBE) says it has obtained a 25 million Euros loan from the European Investment Bank. The DBE is providing a considerable loan service for foreign trade, manufacturing and agro-processing projects that have been given priority by the government. The bank has collected 367.1 billion Birr (one USD = about 8.9 Birr) from the loan it provided for the establishment and expansion of various development projects during the past half budget year. DBE President Wondwossen teshome told the Ethiopian News Agency Saturday that the bank had set aside about 600 million Birr to be given as loans for investors engaged in foreign trade, manufacturing and agro-processing projects. Based on the development strategy put in place by the government, the bank has been providing a considerable sum as loans for investors engaged in these sectors, he added.
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