WSJ Europe Update
By Yaser Anwar, CSC of Equity Investment Ideas
Nissan, Renault Boards Approve GM Talks
The boards of Nissan and Renault cleared the way for their CEO, Carlos Ghosn, to pursue an alliance with GM. The moves mark a major step toward the creation of the three-way deal backed by GM investor Kerkorian.
GM's Sales Tumble 26%
GM's June sales fell 26% from year-earlier levels pumped up by heavy discounting. Ford and Chrysler also posted declines amid continued pressure from high gasoline prices and foreign rivals. Toyota's vehicle sales jumped 14%.
Millicom, China Mobile End Talks
Luxembourg's Millicom broke off talks to be acquired by China Mobile after the two couldn't agree on a price. The deal, expected to be valued at more than $5 billion, would have been the biggest foreign acquisition by a Chinese company.
Permira Raises a Buyout Fund of $14 Billion
Permira has raised $14 billion -- collected in just three months -- to create Europe's largest private-equity fund.
Pro-Business Calderon Holds Lead in Mexico
Pro-business conservative Calderon appeared headed to a surprise victory in Mexico's presidential election, but his leftist rival had not conceded. Election officials began a review of the polling results. Mexican stocks surged, with giants Telmex and Cemex up strongly.
• In Focus: Latin America's Leftward Tilt
Former U.S. Solider Charged With Murder
U.S. prosecutors charged an Iraq war veteran with murder and rape in connection with the March killing of an Iraqi woman and members of her family. (Complete coverage)
• Criminal complaint: U.S. v. Green
Maersk Makes a Friendly Offer for Adsteam
Maersk launched a bid to buy Australia's Adsteam Marine for $515 million plus the assumption of debt.
German Leaders Reach Health-Insurance Pact
Germany's Merkel described as a "real breakthrough" the governing coalition's tentative deal on overhauling the health-insurance system.
M-Systems, Redback Disclose Probes
M-Systems is restating results due to stock-option problems. Redback Networks received an informal SEC request for information on its stock-option grant practices, as well as a Justice Department subpoena. Meanwhile, Delta Petroleum said the SEC began an inquiry into its grants.
Nortel Rises on Upgrade
Nortel Networks rose on an analyst's upgrade, while Chinese telecom Qiao Xing climbed on optimistic financial guidance. The Nasdaq finished ahead 0.8% in Monday's abbreviated session.
U.S. Stocks Rally on Fed Hopes
The Dow industrials gained 77.80 points to 11228.02, starting the third quarter with a rally, as a soft manufacturing report raised hopes that the Federal Reserve will stop raising interest rates soon.
Source: WSJ
http://www.equityinvestmentideas.blogspot.com/
Nissan, Renault Boards Approve GM Talks
The boards of Nissan and Renault cleared the way for their CEO, Carlos Ghosn, to pursue an alliance with GM. The moves mark a major step toward the creation of the three-way deal backed by GM investor Kerkorian.
GM's Sales Tumble 26%
GM's June sales fell 26% from year-earlier levels pumped up by heavy discounting. Ford and Chrysler also posted declines amid continued pressure from high gasoline prices and foreign rivals. Toyota's vehicle sales jumped 14%.
Millicom, China Mobile End Talks
Luxembourg's Millicom broke off talks to be acquired by China Mobile after the two couldn't agree on a price. The deal, expected to be valued at more than $5 billion, would have been the biggest foreign acquisition by a Chinese company.
Permira Raises a Buyout Fund of $14 Billion
Permira has raised $14 billion -- collected in just three months -- to create Europe's largest private-equity fund.
Pro-Business Calderon Holds Lead in Mexico
Pro-business conservative Calderon appeared headed to a surprise victory in Mexico's presidential election, but his leftist rival had not conceded. Election officials began a review of the polling results. Mexican stocks surged, with giants Telmex and Cemex up strongly.
• In Focus: Latin America's Leftward Tilt
Former U.S. Solider Charged With Murder
U.S. prosecutors charged an Iraq war veteran with murder and rape in connection with the March killing of an Iraqi woman and members of her family. (Complete coverage)
• Criminal complaint: U.S. v. Green
Maersk Makes a Friendly Offer for Adsteam
Maersk launched a bid to buy Australia's Adsteam Marine for $515 million plus the assumption of debt.
German Leaders Reach Health-Insurance Pact
Germany's Merkel described as a "real breakthrough" the governing coalition's tentative deal on overhauling the health-insurance system.
M-Systems, Redback Disclose Probes
M-Systems is restating results due to stock-option problems. Redback Networks received an informal SEC request for information on its stock-option grant practices, as well as a Justice Department subpoena. Meanwhile, Delta Petroleum said the SEC began an inquiry into its grants.
Nortel Rises on Upgrade
Nortel Networks rose on an analyst's upgrade, while Chinese telecom Qiao Xing climbed on optimistic financial guidance. The Nasdaq finished ahead 0.8% in Monday's abbreviated session.
U.S. Stocks Rally on Fed Hopes
The Dow industrials gained 77.80 points to 11228.02, starting the third quarter with a rally, as a soft manufacturing report raised hopes that the Federal Reserve will stop raising interest rates soon.
Source: WSJ
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 2:31 PM
Subscribe
<< Home