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Feb 15, 2012

BLOOMBERG News, Feb 15, 2012

Kellogg to Buy Procter & Gamble's Pringles for $2.7 Billion
San Francisco Chronicle
15 (Bloomberg) -- Kellogg Co. agreed to acquire Procter & Gamble Co.'s Pringles potato chip business for about $2.7 billion in cash to triple its global snacks sales after a deal with Diamond Foods Inc. fell through. The transaction will reduce ...
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Drugmakers Vie for Piece of Future Hepatitis C Combo Pill
BusinessWeek
15 (Bloomberg) -- A developing medical theory that hepatitis C can be overcome with the same type of drug cocktails that tamed HIV may drive acquisition strategies as companies try to anticipate which products work best with other medicines.
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Diane Von Furstenberg Calls Bloomberg 'Hot'
AllMediaNY
-by Molly C. Braswell, Staff Writer; Image: DVF and Mayor Bloomberg (Image Source: FashionIndie.com) Fashion Week is a few days away from ending, and the stylish comments keep ruling on and off the runway. At an event to announce the economic impact of ...
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AllMediaNY
JPMorgan Among Seven Banks Implicated by Informant in Canadian Libor Probe
Bloomberg
JPMorgan Chase & Co., Deutsche Bank AG (DBK) and HSBC Holdings Plc (HSBA) are among at least seven firms accused by another bank of participating in a conspiracy to manipulate the price of derivatives worldwide for more than three years.
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Derivative CDs Backed by FDIC Tempt Savers as Banks Reap 8% Fees
Bloomberg
Enlarge image Derivative CDs Backed by FDIC Tempt Savers Derivative CDs Backed by FDIC Tempt Savers Daniel Acker/ Bloomberg The HSBC company logo is seen on a banner in New York. A gray-haired woman picking a flower with a young girl adorns the cover ...
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Bloomberg
Thailand Searches for Two Suspects After Iranians Arrested
San Francisco Chronicle
15 (Bloomberg) -- Thai police arrested two Iranians and were searching for two other suspects after bomb blasts in Bangkok yesterday as Iran rejected Israeli allegations that it sponsored the attack along with others across the globe.
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Danone 2011 Profit Rises on Baby Formula
Bloomberg
Full-year adjusted net income climbed 4.5 percent to 1.75 billion euros ($2.3 billion), compared with the 1.76 billion-euro average estimate of 22 analysts surveyed byBloomberg. “Waters continues to over-deliver,” Andrew Wood, an analyst at Sanford C...
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Bloomberg
Comcast Authorizes $6.5 Billion Buyback as Fourth-Quarter Profit Jumps 26%
Bloomberg
To listen, visit http://www.cmcsk.com/.) To contact the reporter on this story: Alex Sherman in New York at asherman6@bloomberg.net To contact the editor responsible for this story: Ville Heiskanen at vheiskanen@bloomberg.net LinkedIn Google +1 ...
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Drugmakers Jockey for Piece of Future Hepatitis C Combo Pill
Bloomberg
Because only a few hepatitis C drugs are approved, and others in testing may not pan out, “we don't know what the winning formula will be,” Ben Weintraub, an industry analyst at Wolters Kluwer InThought in New York, said during a Bloomberg Industries ...
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Citigroup Mortgage Division Agrees to Pay $158.3 Million in HUD Settlement
Bloomberg
Citigroup Inc. (C)'s Citimortgage unit agreed to pay $158.3 million to settle claims tied to its actions in a federal home-loan insurance program, the Manhattan US Attorney's office said. The US settled a lawsuit against the Citigroup unit that alleged ...
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PepsiCo Adds Water to Tropicana to Juice Brand's Margin: Retail
Bloomberg
PepsiCo's Tropicana, the best-selling orange juice in the US, is trying to regain space in American refrigerators after a repackaging fiasco three years ago hurt the brand and allowed Coca-Cola Co. (KO) to outflank it. The brand lost market share last ...
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Bloomberg
U.S. Companies Reporting Midmorning EPS, Feb. 15
Bloomberg
Earnings estimates provided by Bloomberg. TICKER EST SYM COMPANY Q11 Q10 % CHG Q11 % CHG Q/E ======================================================================== ABD ACCO BRANDS CORP 0.29 0.25 16.0 0.27 7.4 Dec ACAS AMERICAN CAPITAL 0.67 0.19 252.6 ...
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Canadian Dollar Rises for Third Day as Crude Oil Reaches a Month High
Bloomberg
The currency, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, rose earlier the most in almost two weeks as crude oil, Canada's biggest export, touched the highest level in a month. It trimmed the rally as Greek Finance Minister ...
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Cenovus Fourth-Quarter Profit Triples on Rising Crude Oil Prices
Bloomberg
... from C$78 million, or 10 cents, a year earlier, the Calgary-based company said today in a statement. Operating earnings climbed to 44 cents a share from 19 cents, missing the 53-cent average estimate of 16 analysts surveyed by Bloomberg.
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Air Canada Pilots Prefer Contract Talks to Government-Opposed Walkout
Bloomberg
Labor Minister Lisa Raitt has proposed a six-month negotiation process with two new co-mediators after government- supervised talks failed to produce a deal before a cooling-off period ended yesterday. “The government views Air Canada (AC/B) as ...
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Canadian Stocks Rise, Led by Materials Producers; Suncor Gains
BusinessWeek
15 (Bloomberg) -- Canadian stocks rose, led by raw- materials and energy producers, after China said it will get more involved in a solution to Europe's debt crisis and the US reported a decline in crude oil inventories. Eldorado Gold Corp., Canada's ...
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Paulson Increases Pressure on Hartford, Exits Citigroup, BofA Investments
Bloomberg
Paulson & Co., which is based in New York and manages about $24 billion, saw its weighting in financial-services companies decline by 6.7 percent, the most of any industry group during the quarter, according to data compiled by Bloomberg.
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Berkshire Takes Stakes in Liberty Media, DaVita as Weschler Joins Buffett
Bloomberg
Enlarge image Warren Buffett Warren Buffett Scott Eells/Bloomberg Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, tours the floor at the New York Stock Exchange on Sept. 30, 2011. Berkshire Hathaway Inc. (BRK/A) took stakes...
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Bloomberg
Obama Meets China Vice President Xi Jinping
Bloomberg
Enlarge image US President Barack Obama US President Barack Obama Andrew Harrer/Bloomberg Barack Obama, US President. President Barack Obama told Chinese Vice President Xi Jinping that China's growing influence brings with it responsibility to work ...
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Bloomberg
Billionaire Batista in Talks With Sovereign Funds to Sell Gold Unit Stake
Bloomberg
Batista's EBX Group Co. holding company is also still weighing a listing of AUX, which last year paidC$1.08 billion ($1.08 billion) to acquire Ventana Gold Corp. (VEN), Batista told reporters in Sao Paulo today. He didn't give further details.
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Westfield Forms US Venture With Canada Pension; Shares Surge on Buyback
Bloomberg
Enlarge image Westfield Plans $4.8 Billion Canada Pension Venture Westfield Plans $4.8 Billion Canada Pension Venture Ian Waldie/Bloomberg Westfield Group has turned its focus to mall developments and new markets after the spinoff of Westfield Retail ...
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Bloomberg
Goldman Sachs, Morgan Stanley Say Volcker Rule Could Raise Risks
Bloomberg
The New York-based banks, along with competitors Bank of America Corp., Citigroup Inc. (C) and JPMorgan Chase & Co., are pushing to limit the reach of the Volcker rule, a ban on proprietary trading included in the 2010 Dodd-Frank Act. A draft of the ...
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Wheat Gains as Frost May Curb Ukrainian Production, Exports
BusinessWeek
By Tony C. Dreibus Feb. 15 (Bloomberg) -- Wheat futures rose for the second time this week on speculation that freezing weather will curb Ukrainian production and exports. Dormant crops in Ukraine, the world's seventh-largest wheat exporter, ...
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Florida Vote Halts Largest Private-Jail Plan in Geo Setback
BusinessWeek
By Michael C. Bender Feb. 15 (Bloomberg) -- Florida's Senate blocked a plan to create the largest private-prison system in the US, handing a setback to a Geo Group Inc. unit that will instead seek to expand outside the Sunshine State, according to its ...
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Paulson Sold Citigroup, Bank of America in Fourth Quarter
Bloomberg
John Paulson, the billionaire hedge fund manager who had his worst year on record in 2011, sold his entire stakes in Citigroup Inc. (C) and Bank of America Corp. in the fourth quarter before the shares rallied. Paulson & Co., which owned $643 million ...
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New Global Bond Body Would Boost Climate Funds, Citigroup Says
Bloomberg
A global financial institution similar to the US's Overseas Private Investment Corp. may help create a new type of bond, boosting funds for climate protection as it cuts costs and risks for investors, said a Citigroup Inc. (C) executive.
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ABB CEO Hogan Bolsters Revenue With Takeovers as Siemens Wavers
BusinessWeek
15 (Bloomberg) -- ABB Ltd. Chief Executive Officer Joe Hogan is building on his deal-making credentials to bolster the Swiss engineering conglomerate with acquisitions, fueling earnings and eclipsing the performance of competitors.
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Criticism of FreshDirect Deal Is Off Base, City Officials Say
New York Times
The Bloomberg administration on Tuesday staunchly defended its decision to provide the online grocer FreshDirect with an unusually large $127.8 million package of cash and tax breaks to move to the Bronx rather than New Jersey.
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Hong Kong Short Selling Turnover (Main Board) Recorded 02/15/201
Bloomberg
Hong Kong, 02/15/2012 (Bloomberg) - Short selling was recorded on the Main Board of the Hong Kong Stock Exchange for the following companies as of 00:00 today. Number Short Percent of shares selling Total of short Tkr sold short turnover turnover to ...
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Vancouver Could Handle More Kinder Morgan Oil, Port CEO Says
BusinessWeek
15 (Bloomberg) -- Vancouver would be able to handle larger tankers that could receive crude oil from an expanded Kinder Morgan Inc. pipeline, allowing Canada to boost energy shipments to Asia, the head of the city's port authority said.
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Canadian January Existing Home Sales Fall 4.5%, Realtor Group Says
Bloomberg
From a year earlier, the average resale price rose 1.2 percent to C$348178 ($349500) and sales increased 4 percent, the slowest pace since May 2011. The housing market will be “steady” this year with moderate economic growth and low mortgage rates, ...
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Inside Trading 'Club,' Citigroup, Total, Glaxo in Court News
Bloomberg
Level Global Investors LP co-founder Anthony Chiasson; Todd Newman, a portfolio manager formerly at Diamondback Capital Management LLC; Jon Horvath, an analyst at hedge fund Sigma Capital Management LLC; and Danny Kuo, a fund manager for Whittier Trust ...
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RCBC Favors Property Firms' Shares
Manila Bulletin
By IAN C. SAYSON (Bloomberg) MANILA, Philippines — Commercial Banking Corporation, the Philippines' fourth-biggest lender, is buying shares of the nation's real-estate developers as the central bank may lower interest rates further to boost economic ...
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Pharmalot… Pharmalittle… Good Morning // Pharmalot
By Ed Silverman
Glaxo Uses Mediation To Settle 25000 Avandia Cases (Bloomberg News). Hospira Resumes Production At North Carolina Plant (Reuters). Hepatitis C Combinations And The Race For Acquisitions (Bloomberg News). Antibiotics Do Not Work ...
Pharmalot
Apple Makes Inroads Into U.S. Government as Air ... - Bloomberg
The U.S. Air Force may buy as many as 18000 iPad2s in what would be one of the military's biggest orders of computer tablets, accelerating Apple Inc.'s inroads ...
www.bloomberg.com/.../apple-makes-inroads-into-u-s-govern...
Madoff Trustee Seeks to Pursue $386 Million Lawsuit Against Mets ...
The liquidator of Bernard Madoff's firm said the New York Mets owners were so “hooked” on money from the con man that they used it in place of disability ...
www.bloomberg.com/.../madoff-trustee-seeks-to-pursue-386-...
Pimco's Gross Buys Treasuries While Buffett Says Bonds Are ...
Pacific Investment Management Co.'s Bill Gross increased his holdings of Treasuries to the highest level since July 2010, while billionaire investor Warren ...
www.bloomberg.com/.../pimco-s-gross-buys-treasuries-while-...
Scottish Widows Investment Bets on U.S. Economic Recovery With ...
Scottish Widows Investment Partnership bought shares of U.S. banks and consumer-related companies on signs the world's largest economy will sustain its ...
www.bloomberg.com/.../scottish-widows-investment-bets-on-u...
Diamond Foods to Restate Earnings and Replace Executives ...
Search All NYTimes.com ... By BLOOMBERG NEWS ... Diamond,” Ali Dibadj, an analyst at Sanford C. Bernstein & Company in New York, said in an interview.
www.nytimes.com/.../diamond-foods-to-restate-earnings-and-r...
California Gay Marriage Case May Be Headed to Supreme Court ...
8 (Bloomberg) -- The striking down of California's Proposition 8 voter initiative ... to SupremeC:/g/a/2012/02/08/bloomberg_articlesLZ1B566KLVRD01-LZ2DW. DTL .... Gay marriage is legal in New York, Connecticut, Iowa, Massachusetts, New ...
www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/02/...
This Week on the mediabistro.com Job Board: Fox News ...
This Week on the mediabistro.com Job Board: Fox News, Bloomberg, Thomson Reuters.
www.mediabistro.com/.../this-week-on-the-mediabistro-com-j...
Newsletters - Automotive News China
Bloomberg News. TOKYO -- Nissan Motor Co. said Wednesday that it boosted its third-quarter profits as the carmaker reached record sales in China. Net income ...
www.autonewschina.com/en/newsletter.asp?c=400
Canadian Stocks Have First Weekly Drop in 2012 on Greek Concern ...
Go To Businessweek.com ... The firm oversees about C$1.7 billion ($1.7 billion). ... BloombergLP, the parent of Bloomberg News, competes with Thomson ...
www.businessweek.com/.../canadian-stocks-have-first-weekly-...
Treasury plans to ease rules on annuities in retirement plans ...
Bloomberg News. February 2, 2012, 5:19 .... More than 2000 dogs have begun taking the spotlight at the Westminster Kennel C... More than 2000 dogs have ...
www.latimes.com/.../la-fi-401k-rules-20120203,0,7937650.st...
Special Report: Bloomberg reloads in push for gun ... - Yahoo! News
From Yahoo! News: NEW YORK (Reuters) - Among the slick, million-dollar ads for the likes of Pepsi and Honda during the Super Bowl this Sunday, viewers in ...
news.yahoo.com/special-report-bloomberg-reloads-push-gun-...
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