Safran seals $1.9bn deal for biometric firm September 20, 2010 France’s Safran confirmed a $1.09bn (£696m) deal to buy L-1 Identity Solutions and its core biometric identity business in a move that will also see BAE Systems extend its reach in the United States. Safran, which makes aero engines, military goggles and security equipment, said shareholders would get $12 a share in cash in the [...]
BP shares jump after oil leak “permanently” stemmed September 20, 2010 Shares in BP jumped over 1.8 per cent and outperformed rivals after the oil major said it had permanently sealed an oil well in the Gulf of Mexico that caused the United States’ worst ever oil spill. Jason Kenney, oil analyst at ING, said BP had hit “a significant milestone” in dealing with the disaster [...]
FTSE opens slightly up September 20, 2010 The FTSE 100 opened up 7-13 points, according to financial bookmakers, rallying modestly after falls on Friday in tandem with slight gains on Wall Street and in Asia, with all eyes on Tuesday’s Federal Reserve meeting. The UK blue chip index closed 31.69 points, or 0.6 per cent lower on Friday at 5,508.45 as weak [...]
HSBC sells banknotes business for $15m September 20, 2010 Global bank HSBC Holdings said that it would sell the physical assets of its wholesale banknotes business in Asia to United Overseas Bank for $15m £9.5m) in cash. HSBC said it would also licence the technology system used in connection with its Asian wholesale banknotes business to UOB. The transaction is expected to be completed [...]
KNOC buys stake in Dana September 17, 2010 State-run Korea National Oil Company said it had bought a 29.5 per cent stake in Dana Petroleum, bringing it a step nearer to success in its hostile bid for the UK-listed oil and gas explorer. KNOC said on Friday that it had bought 27.3m. Dana shares at 1,800 pence each, the price of its declared [...]
Johnson & Johnson in £1.46bn bid for Crucell September 17, 2010 US health care company Johnson & Johnson, looking to catapult itself into the global vaccine market, is in talks to pay 1.75bn euros (£1.46bn) to buy Dutch biotech Crucell. J&J, which already owns a 17.9 per cent stake in vaccine maker Crucell, said its potential cash offer valued Crucell shares at 24.75 euros, a 58 [...]
RBS close to deal with Guolian Securities September 17, 2010 Royal Bank of Scotland is close to forming a venture with Chinese group Guolian Securities as part of the lender’s expansion in the booming Asian economy, a Reuters source has said. “China is a core market for RBS in Asia,” the insider claimed. RBS, bailed out by the government at the height of the financial [...]
Mitchells and Butlers in £19.5m deal for Ha Ha’s September 17, 2010 The Bay Restaurant Group has sold the ha ha bar & grill chain to Mitchells and Butlers for £19.5m. Under the deal Mitchells and Butlers will take over all 22 restaurants on 3 October. Following the sale, Bay will be solely focused on La Tasca, its 70 Spanish tapas restaurants. McQueen advised Bay Restaurant Company [...]
FTSE rebounds after Asia rise September 17, 2010 The FTSE 100 index has rebounded after falls in the previous session following gains overnight in Asia, with commodity stocks likely to be in demand buoyed by firmer metals and oil prices. The blue chip index looks set to add 46 to 51 points, or as much as 0.9 percent, according to financial bookmakers, after [...]
Japan explains yen selling strategy September 17, 2010 Japan will try to dispel international criticism of its yen-selling intervention by highlighting the damaging impact of the currency’s climb on an economy mired in deflation, the finance minister said. Japan’s solo foray into currency markets, its first in six years, sparked fears other nations might follow suit to prop up sagging exports and that [...]
