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’Snap news
Breaking pre-market news on Thursday,
- VT Group rejects raised offer of 68op-715p a share from Babcock – statement.
- ENRC to pay $300m for assets owned by three of its founder shareholders – statement.
Want work experience on the trading floor of a major bank?
That will be 550 quid please.
From a press release from charity for charities Pilotlight on Wednesday:
UK Follows US Example Of Auctioning Work Experience For A Good Cause
With so many students now graduating from university without a job,
Boardoom execution at Reed
Forget the recent reshuffle at Barclays, this is a proper executive-level knifing.
After just 8 months in the job, Ian Smith, chief executive of Reed Elsevier — which publishes the New Scientist and The Lancet — quit on Wednesday morning.
Agencies berated as Reed taps investors
Big UK institutions turned their guns on credit-rating agencies on Thursday as Reed Elsevier, the Anglo-Dutch publisher, became the latest company to tap its shareholders for capital, reports The Times.
Snap news
Breaking pre-market news on Thursday,
- Nationwide says July house prices rise 1.3 per cent in July — statement.
- Gulf Keystone confirms it’s contemplating a placing, not in discussions regarding a takeover — statement.
Reed Elsevier in $2bn loan deal
Reed Elsevier has concluded a deal with its lenders to extend a $2bn (£1.4bn) credit facility for two years. The multi-currency deal was agreed by a syndicate of 19 lending banks including Barclays, RBS,
Reed Elsevier drops trade magazine sale
Reed Elsevier withdrew its proposed sale of its Reed Business Information trade magazine arm amid deteriorating trading conditions and the subsidiary’s sharply reduced valuation. The RBI sale, one of the few live auctions in the media sector,
Reed in vendor finance offer
Reed Elsevier is offering $330m of vendor financing at a high interest rate to help the Anglo-Dutch group offload its $2bn-plus publishing and information business, in the latest sign of the trouble private equity is having raising loans.
Reed sheds print for online media
Reed Elsevier unveiled the biggest restructuring of its publishing and information businesses for almost a decade on Thursday with plans to cut its exposure to print and advertising and concentrate on higher-growth online and subscription activities.
Where the National Guard meets M&A
What is it exactly that gets up the collective nose of the Committee on Foreign Investments in the United States? What, we ask, constitutes a grave threat to the “land of the free”?
It is more dangerous for foreigners to take a minority stake in a “provider of enterprise and small-business networking solutions that help organizations achieve their business and networking objectives?”
Economist Group on the frontline for Jane’s
The Economist is among the front runners to buy Jane’s Defence Weekly, reports the Daily Telegraph. It is understood that the Economist Group has made it to the second round of the auction for Jane’s Information Group,
Markets live transcript 15 Feb 2007
Markets live chat transcript for the chat ending at 11:44 on 15 Feb 2007. Participants in this chat were: Paul Murphy (PM) Robert Orr (RO)
PM: Good morning and welcome to Markets Live – Alphaville’s daily markets chat.
CDS report: EMI, Reed Elsevier, Jones Apparel
EMI, the music group, was in the spotlight in this morning’s credit derivatives trading in London, after the company announced a management reshuffle and issued a warning on its profit outlook.The EMI credit default swap — an instrument which protects against the non-payment of corporate debt — was trading with a spread of 175basis points,
Markets live transcript 5 Jan 2007
Markets live chat transcript for the chat ending at 11:36 on 5 Jan 2007. Participants in this chat were: Helen Thomas (HT) Neil Hume (NH)
HT: Good morning – welcome to Markets Live
HT: We’ve lost Paul again today – so I’m here with Neil Hume
NH: