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Jul 4, 2012

BLOOMBERG News, Jul 04, 2012

Vestas Falls on Report of Debt Restructuring TalksBloombergVestas Wind Systems A/S fell the most in four weeks after a report that the turbine maker is in talks with two banks about restructuring debts after drawing a 300 million-euro ($379 million) credit line.
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Cravath, Weil, Kirkland, Skadden, Sullivan: Business of Law
Bloomberg
Linde AG agreed to acquire Lincare Holdings Inc. for about $3.8 billion to add U.S. oxygen and respiratory therapy services delivered to the home, in the German company's biggest acquisition since 2006.
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Ackman Like Buffett Buoyed by Fracking in Bakken: Freight
Bloomberg
Bill Ackman, the largest investor in Canadian Pacific Railway Ltd., is following Warren Buffett in profiting from growing oil and gas production in North America's Bakken shale.
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WSJ, Bloomberg confirm Apple's 7.85-inch 'iPad mini' plan
Computerworld (blog)
Apple doesn't presently offer a 7-inch iPad, but this may change. Bloomberg cites shadowy “sources” who seem to think the company intends introduction of a small size iPad at a deeply competitive price. And this morning's Wall Street Journal confirms ...
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Computerworld (blog)
Personal Spending in U.S. Probably Stalled on Smaller Job Gains
Bloomberg
Consumer spending in the U.S. probably stalled in May as slower job growth and subdued wage gains prompted Americans to cut back, economists said before a report today.
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Bloomberg BNA Announces New Tax and Accounting eLearning Courses
MarketWatch (press release)
ARLINGTON, Va., July 3, 2012 /PRNewswire via COMTEX/ -- Bloomberg BNA announces four new eLearning courses for tax and accounting practitioners. The courses enable self-paced learning for individual or staff training and provide CPE and CLE credit.
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Diamond Pays Penalty for Being First-Mover in Libor Probe
Bloomberg
Barclays Plc saved itself 25.5 million pounds ($40 million) in fines by moving first to settle a probe over the rigging of global interest rates. In return, it has lost three top executives, $5 billion of market value and sparked a government inquiry.
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EU Bonuses, Ice Trade Vault, Barclays: Compliance
Bloomberg
Senior hedge-fund and private-equity managers face longer waits for bonuses under proposals from the European Union's top markets regulator.
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Diamond Seen Surviving Libor Storm After Barclays Plunges
Bloomberg
Barclays Plc's investors aren't joining lawmakers in calling for Chief Executive Officer Robert Diamond to quit, though they say record fines for Libor manipulation threaten to doom his turnaround plan for the bank.
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Diamond Says Barclays Penalized for Being First Fined Over Libor
Bloomberg
Robert Diamond, who quit yesterday as chief executive officer of Barclays Plc, sought to blame other banks for misleading markets about their ability to borrow, and regulators for turning a blind eye.
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Citigroup Sells Debt for 1st Time Since Moody's Downgrade
Bloomberg
Citigroup Inc. issued $750 million of bonds in its first sale after a two-step ratings downgrade from Moody's Investors Service.
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Ex-JPMorgan CIO Trader Olson Joins Citigroup Credit Unit
Bloomberg
David Olson, the former head of credit trading for JPMorgan Chase & Co.'s chief investment office in North America, joined Citigroup Inc.'s bond-trading unit, according to people familiar with the matter.
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Shire Seen Luring Pfizer to Teva With Lowest Valuation: Real M&A
Bloomberg
Drugmakers looking for lucrative treatments for ailments from attention-deficit disorder to diabetic foot ulcers can now snap up Shire Plc at its cheapest valuation relative to earnings in almost six years.
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Netflix June Online Viewing Topped Record 1 Billion Hours
Bloomberg
Netflix Inc., the online and mail- order video service, rose after saying that Internet viewing topped a record 1 billion hours in June.
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Bloomberg
Canada Competition Bureau Won't Challenge Maple Buy of TMX
Bloomberg
Canada's Competition Bureau approved the C$3.73 billion ($3.68 billion) takeover of TMX Group Inc. by a group of banks and pensions funds, sending shares of the Toronto Stock Exchange owner up the most in two months.
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Bloomberg
Barclays $451 Million Libor Fine Paves the Way for Competitors
Bloomberg
Barclays Plc's record $451 million fines for interest rate manipulation sent bank shares plunging as U.S. and U.K. authorities pursue sanctions in a global investigation of more than a dozen lenders.
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Libor Banks to Face Significant Civil Claims, Bernstein Says
Bloomberg
Barclays Plc and other banks that settle regulators' allegations they attempted to manipulate a key London borrowing rate will face “significant civil claims” in coming years, according to Sanford C. Bernstein & Co. analysts.
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Bloomberg
Ackman Puts Stamp on Canadian Pacific With New CEO
Bloomberg
William Ackman had to wait only six weeks after winning a proxy fight at Canadian Pacific Railway Ltd. for his choice as chief executive officer to get the job. Achieving his profitability targets for the least efficient of North America's major ...
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Petronas Agrees to Buy Canada's Progress Energy for $4.7 Billion
Bloomberg
Petroliam Nasional Bhd, Malaysia's state-owned oil and natural-gas company, agreed to buy Progress Energy Resources Corp. for C$4.8 billion ($4.6 billion), in its biggest deal as it moves to export Canadian gas to Asia.
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Hedge Funds Win on Bull Bets Before Biggest Rally: Commodities
Bloomberg
Hedge funds lifted their bullish commodity bets for a third week, just before a European agreement to contain the region's debt crisis spurred the biggest rally in raw-material prices in three years.
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Fourth of July Grillers Pay for Record Burgers: Chart of the Day
Bloomberg
Consumers are set to pay the most ever for hamburgers and steak for this year's Fourth of July holiday as rising demand pushes beef prices to a record and increases the cost of a basket of barbecue staples.
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Yen, Dollar Fall as Asian Stocks Gain; Aussie Advances
Bloomberg
The yen weakened most of its major counterparts as investors sought higher-yielding assets amid speculation central banks will step up efforts to spur growth, reducing demand for havens.
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Xi Jinping Millionaire Relations Reveal Fortunes of Elite
Bloomberg
Xi Jinping, the man in line to be China's next president, warned officials on a 2004 anti-graft conference call: “Rein in your spouses, children, relatives, friends and staff, and vow not to use power for personal gain.”
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McDonald's New CEO Focuses on Chicken Amid Shaky Economy
Bloomberg
McDonald's Corp.'s new chief executive officer is playing chicken with the menu.
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Canadian Dollar Heads for Biggest Monthly Loss Since August
Bloomberg
Canada's dollar fell for a second day against its U.S. counterpart as demand for currencies of commodity-producing nations eased amid speculation Europe's financial crisis will slow global growth.
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MacDonald Dettwiler Shifts Focus to Consumer in U.S. Deal
Bloomberg
MacDonald, Dettwiler & Associates Ltd. will gain a beachhead in the U.S. with the $875 million purchase of Loral Space & Communications Inc.'s commercial satellite unit as the company that made NASA's space arm cuts reliance on government spending.
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Australia Dollar Gains as Commodities Rise Amid Bets on Stimulus
Bloomberg
The Australian dollar touched the highest level in two months versus its U.S. counterpart as commodities climbed amid speculation global central banks will act to spur economic growth.
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Apple Said to Prepare ITunes Overhaul Improving Storage, Sharing
Bloomberg
Apple Inc. plans an overhaul of iTunes that would mark one of the largest changes to the world's biggest music store since its 2003 debut, according to people with direct knowledge of the matter.
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Uralkali Plots Potash Growth as BHP Delayed: Commodities
Bloomberg
OAO Uralkali, the potash producer billionaire Suleiman Kerimov built into the world's largest, is increasing profit faster than its five largest competitors in the $25 billion global market by curbing output costs.
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Regulators Grappling With Libor Probe Said to Seek More Time
Bloomberg
Barclays Plc's settlement of about $451 million with U.S. and U.K. regulators last week offered the first glimpse of what banks may have to pay to resolve a global probe of interest-rate manipulation. The question now is who's next.
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Vivendi Said to Seek External Candidate to Replace Levy
Bloomberg
Vivendi SA has hired a headhunter to find a successor to former Chief Executive Officer Jean-Bernard Levy and started identifying external candidates for the job, according to people with knowledge of the matter.
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Big Banks' 'Living Wills' Promise Bankruptcy Instead of Bailouts
Bloomberg
U.S. regulators, seeking to prevent a repeat of taxpayer-funded bailouts of the financial system, released summaries of plans for breaking up nine of the world's largest banks in the event of an emergency.
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U.S. Stock Futures Decline Before European Union Summit
Bloomberg
U.S. stocks pared losses in the final hour of trading amid speculation European leaders were nearing an agreement to halt contagion from the debt crisis.
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Big C Supercenter, Sri Trang, Thai Rubber: Thai Equity Preview
Bloomberg
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are at the close in Bangkok.
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Morgan Stanley Cuts Forecasts for Commodity-Linked Assets
Bloomberg
Morgan Stanley cut its forecasts for the Australian, Canadian and New Zealand dollars, citing what it called an increasingly challenging global economic environment for the commodity-exporting countries.
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Trend-watching, to the nth degree - NashuaTelegraph.com
... from Twitter and other social media sites to tease out patterns. Illustrates BIGDATA (category f), by Ariana Eunjung Cha (c) 2012, The Washington Post. Moved Thursday, June 7, 2012. (MUST CREDIT:Bloomberg News photo by Scott Eells).
Nashuatelegraph.com: Breaking...
Read blogs for the news, Bloomberg for the Party Line
By Roger Erickson
Read blogs for the newsBloomberg for the Party Line. Can no one in for-profit media be trusted?Bloomberg already has a whole city and his own army - how much more payment per word does he need from his editors & journalism staff?
Mike Norman Economics
Biz Break: Merger Monday offers raft of tech acquisitions, Apple ...
By By Jeremy C. Owens jowens@mercurynews.com
Check in weekday afternoons for the 60-Second Business Break, a summary of news from MercuryNews staff writers, The Associated Press, Bloomberg News and other wire services. Contact JeremyC. Owens at 408-920-5876; follow him at ...
Business
@2012Tampa for the #RNC announces economic development ...
By PR NewsChannel
Press release distribution service that sends news to media outlets and individual reporters and editors, search engines, websites and content syndicators.
PR NewsChannel
BBC News - China blocks access to Bloomberg and Businessweek ...
Internet users in mainland China are unable to access Bloomberg's website, after access was blocked by the Chinese authorities.
www.bbc.com/news/technology-18648050
Bondi tells Scott about health care decision from Supreme Court ...
... the decision: http://bit.ly/OJ5a0v. Here is news on the decision states face after the ruling ...
www.youtube.com/watch?v=0V0p-vl_4qA
China blocks Bloomberg report on wealth of Xi Jinping's family ...
"Our Bloomberg.com website is currently inaccessible in China in reaction, we believe, to aBloomberg News story that was published today," a company ...
www.wantchinatimes.com/news-subclass-cnt.aspx?id...cid...
MacDonald Dettwiler Shifts Focus to Consumer in U.S. ... - Bloomberg
MacDonald, Dettwiler & Associates Ltd. (MDA) will gain a beachhead in the U.S. with the $875 million purchase of Loral Space & Communications Inc. (LORL)'s ...
mobile.bloomberg.com/.../macdonald-dettwiler-shifts-focus-to...
Bloomberg sites blocked in China days after Xi family ... - Yahoo! News
From Yahoo! News: BEIJING (Reuters) - Bloomberg's news websites remained blocked in China five days after it issued a story about the finances of the ...
news.yahoo.com/bloomberg-sites-blocked-china-days-xi-famil...
Canada Dollar Declines Most in 6 Months on Weak ... - Bloomberg
Canada's dollar dropped against its U.S. counterpart by the most in six months as a drop in retail sales and a third tightening of mortgage terms increased bets ...
mobile.bloomberg.com/.../canada-dollar-extends-drop-versus-...
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