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’Snap news
Breaking pre-market news on Friday,
- Total says Q3 profits up 13 per cent – statement.
- WPP cuts full-year outlook, says margins to improve – statement.
- Erste Bank to close out CDS portfolio within days – statement.
Snap news
Breaking pre-market news on Thursday,
- Cable & Wireless Worldwide warns of no growth in 2011/12 –statement.
- Next warns autumn/winter prices will have to rise 8-10 per cent; outlook more challenging;
Snap news
Breaking pre-market news on Friday,
- WPP to increase dividend payout to 40 per cent of earnings; announces annual results- statement.
- KBC agrees to sell Centea to Credit Agricole for €527m – statement.
Snap news
Breaking pre-market news on Friday,
- British Airways returns to profit — statement.
- WPP says like for like revenue growth will not improve in 2011 — statement.
– Piraeus Bank planning €800m rights issue — report.
Snap news
Breaking pre-market news on Monday,
- Safran confirms $1.09bn cash acquisition of L-1 Identity — statement.
- BAE acquires L-1′s counter-terror unit for $295m — statement.
- Petra Diamonds posts $70m pre-tax profit – statement.
Snap news
Breaking pre-market news on Tuesday,
- Rio Tinto and Chinese partner consider PotashCorp bid — report.
- Xstrata acquires Sphere Minerals for $383m — statement.
- WPP pre-tax profit down 16 per cent to £816m — statement and statement.
Snap news
Breaking pre-market news on Friday,
- Xstrata says Glencore exercised option to buy Prodeco assets for $2.25bn – statement.
- WPP FY like-for-like revenue down 8.1 per cent – statement.
- Kenmare Resource announces £179m cash call – statement.
I LUV u – Sir Martin Sorrell gets creative
Sir Martin Sorrell, he of the famous “bath shaped recession” quip, appears to have a growing addiction to shape-based economic prognosis.
Having already offered his prediction for an “L-shaped” recession,
Snap news
Breaking pre-market news on Friday,
- Nationwide UK house price index shows annual house price inflation was positive for first time since March 2008 – statement.
- Cosmen family voices concern about “absence of a well defined strategy”
Snap news
Breaking pre-market news on Wednesday,
- Natixis parent BCPE will guarantee €35bn of toxic assets as the struggling investment bank – Reuters.
- Gazprom said its oil arm had accumulated a 55 per cent stake in Sibir Energy between April and June 2009,
HSBC tries to ‘do something’ in private banking
HSBC is about to launch a $10m drive to rebrand its global private banking operations, amid what the FT describes as “concerns in the wider industry over the rebuilding of fee income and client trust”.
HSBC ‘does something’ to rebrand
HSBC is to launch a $10m rebranding of its global private banking operations, amid concerns in the wider industry over the rebuilding of fee income and client trust. The private bank’s move on Tuesday represents its first change in marketing strategy since it was formed in 2004,
CDS report: ratings action dents sentiment
The cost of protecting European corporate debt against default rose on Tuesday after a series of credit downgrades stoked investor fears of falling profits and prolonged recession.
WPP, the global advertising agency,
Snap news
The latest on Thursday,
- Standard Life reports small dip in reserves – statement
- Lloyds TSB announces revised board, Tim Tookey as finance director – statement
- Corporate results: British American Tobacco,
Snap news
The latest on Friday,
- Kazakhmys: “discussions regarding a possible combination with a third party, first announced on July 14 2008, have ended” – statement.
- WPP to acquire 33% stake in South African marketing group Smollan – statement.
WPP to acquire Taylor Nelson
Taylor Nelson Sofres, the UK marketing research group, on Monday capitulated in its bid battle with WPP after it recommended that shareholders accept Sir Martin Sorrell’s £1.2bn offer. Donald Brydon,
Snap news
The latest on Thursday,
- WPP declares TNS final offer, will not be increased – statement
- Nikkei: -1.88%; Topix: -2.19%; Hang Seng; -1.24%
- European futures point to weak open: Euro Stoxx 50 seen down 0.5%;
Snap news
The latest on Monday,
- Commerzbank acquires Dresdner Bank and “becomes the leading bank for private and corporate customers in Germany.” Allegedly. Statement
- TNS continues to recommend shareholders
TNS hints at take out price for WPP
Taylor Nelson Sofres remained defiant in the face of a bid from WPP but gave an indication of the price the board would be prepared to consider as the battle for control of the UK marketing services group edged towards conclusion.
Snap news
The latest on Monday,
- Kazakhmys increases stake in ENRC to 25% – statement
- WPP says GFK is misleading market on TNS bid – Reuters
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The battle for Taylor Nelson Sofres
This one’s for Code aficionados – those who delight in the intricacies in the workings of Britain’s Panel on Takeover & Merger.
In the battle for control of Taylor Nelson Sofres, which saw Martin Sorrell’s WPP go hostile with a £1.08bn offer on Wednesday,
Snap News
The latest on Wednesday,
- WPP formally launches £1bn cash and stock takeover bid for TNS, 173 pence per share – statement, FT story
- LSE reports Q1 revenue up 8% to £178m – statement
- Bovis says H1 profit will be impacted by sharp reduction in business,
TNS spurns fresh WPP approach
Sir Martin Sorrell’s WPP on Thursday launched a third attempt to persuade shareholders of Taylor Nelson Sofres to accept WPP’s approach rather than its agreed nil-premium merger with German research group GfK,
Sorrell turns up heat on TNS
Sir Martin Sorrell, chief executive of WPP, was on Sunday night discussing his options with advisers over WPP’s bid for Taylor Nelson Sofres, the UK-based market research group. In an FT interview, Sir Martin questioned the rejection by TNS’ board of his advances in favour of a nil-premium merger with Germany’s GfK. If WPP decides on a formal offer,
Merger of Equals = three HQs
Beware the ‘merger of equals.’ Details released on Tuesday on the tie-up between Taylor Nelson Sofres and German rival GfK showed one reason why. The combined company (which, granted, will operate in 111 countries) is to have three head offices.
Dell in $4.5bn advertising pact with WPP
Dell plans to consolidate its worldwide marketing, advertising and communications operations into a single new public relations unit led by WPP, the UK advertising group. The advertising pact, worth $4.5bn in billings over the next three years,
WPP seals deal for digital agency
For the second time in six weeks, the WPP Group has bought a leading interactive agency as part of a digital shopping spree, reports the New York Times. WPP said that it had acquired Vancouver-based Blast Radius,