Share News: Apple Announces Milestone of 10 Billionth App Store Download

UK Shares News

US Shares News

European Shares News

Share Trading - 24 Jan 2011

UK Share Trading News

• UK Companies - Profit warnings from top companies fell to their lowest recorded level last year, according to Ernst & Yong. But the accountancy giant warned that 2011 could be a “crunch year for the British economy” with retailers at the sharp end of the slowdown. (The Mail on Sunday)
  
  
• UK Banks – Bankers have warned of higher costs to customers if they are forced to split their retail and investment operations. Proposals to make banks ring-fence these divisions were floated at the weekend by Sir John Vickers, chairman of the Independent Commission on Banking, which is investigating possible reform of the banking system. (The Mail on Sunday)
  
  
• Lloyds - The incoming chief executive Horta-Osorio has launched an informal strategic review, fuelling speculation that he plans to speed up asset sales and set aside billions more in provisions against bad loans. (The Sunday Times)
  
  
• Barclays – Co. is planning a radical pay overhaul as part of a strategic review that could also see the group shed staff. (FT More)
  
  
• Vodafone – Co. said on Sunday it had not blocked Essar from conducting an initial public offer (IPO) of the latter’s stake in Vodafone Essar. In other news, Michael Treschow, the chairman of Unilever, has emerged as a leading contender to take the chair of the Co. (RTRS/ Sunday Times)
  
  
• Cable & Wireless Worldwide – Market talk that the company could soon receive a bid approach. (Independent)
  
  
• Astrazeneca – Teva has launched a High Court action in London to have the European patent revoked for AstraZeneca’s Seroquel. (Sources)
  
  
• Serco - Co. has made a USD 2bn takeover approach to a US rival SRA International. (The Sunday Times)
  
  
• Smith & Nephew – Continued market talk of bid of GBP 8.00 a share or more from Johnson & Johnson. (Daily Mail)
  
  
• Standard Chartered – Co. to acquire GE Money Pte subject to regulatory approvals, expected to be completed in Q1 2011. (Sources)
  
  

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US Share Trading News

• Equities finished mixed, with notable underperformance observed in the technology sector as investors digested news that Google (-2.38%) CEO is to be replaced by co-founder Larry Page.
  
  Still, the move higher was led by the industrials and oil & gas sectors, after solid earnings report from GE (+7.11%) offset less than impressive earnings update from the banking giant Bank of America (-1.99%).
  
  There was little in terms of fresh, which led to lacklustre price action and at the closing bell the DJIA closed up 0.41% at 11871.84, the S&P 500 closed up 0.24% at 1283.35 and the NASDAQ 100 closed down 0.78% at 2268.32.
  
  
• US Banks – The Fed is splitting stress tests for the 19 largest banks into two groups dependent on when lenders want to increase dividend payments in 2011 according to the CFO of Bank of America. (RTRS)
  
  
• Apple - Co. announced on Saturday that more than 10bn apps have been downloaded from its revolutionary App Store by the more than 160m iPhone, iPod touch and iPad users worldwide. (Apple/Engadget)
  
  In other news, the co. won approval to sell its 3G iPad tablets in China and the iPad2 will commence production next month in small amounts, with output to be ramped up from the second quarter. (China National Radio/ Commerce Times)
  
  
• GM - A person familiar with the plan says Co. is adding a shift and more than 650 jobs at its assembly plant in Flint, in Michigan. (bostonherald)
  
  
• Boeing/EADS– CEO of Bank of China aircraft financing wing BOC Aviation, has said the unit is looking to purchase aeroplanes from Boeing and EADS’s Airbus and could ‘easily be worth USD 1bn worth of purchase and lease back business this year’. (RTRS)
  
  
• Sara Lee - A private equity group led by Apollo Global Management has submitted a takeover offer for Co., but an expected rival offer has not yet been made by Brazilian beef processor JBS S.A., a source familiar with the situation said on Saturday. (RTRS)
  
  

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European Share Trading News

• German Banks – Bundesbank is against publishing so-called stress test data on individual banks. (Handelsblatt)
  
  
• Bayer – Co. is targeting acquisitions and partnerships in India. (Frankfurter Allgemeine Zeitung)
  
  
• E.ON – Chinese billionaire Li Ka-Shing is poised to make a GBP 3.5bn offer to the co. for Britain’s second largest electricity distribution network. (Sunday Times
  
  
• Commerzbank – The German government intends to begin selling its holding in the bank this year, according to sources. (Focus)
  
  
• Deutsche Post – Co. may face stricter controls as the country’s Federal Network Agency aims to increase competition. (Der Spiegel)
  
  
• TUI – Co. may use the proceeds of its planned divestment of Hapag Lloyd to buy more shares in TUI Travel. (RTRS)
  
  
• EADS/Boeing – CEO of Bank of China aircraft financing wing BOC Aviation, has said the unit is looking to purchase aeroplanes from Boeing and EADS’s Airbus and could ‘easily be worth USD 1bn worth of purchase and lease back business this year’. (RTRS)
  
  
• Sanofi-Aventis - Co. says Jevtana has been recommended for approval in EU. In other news, Co. has extended its bid for Genzyme for the second time. It expires at the end of the day, on 15 February. The extended offer is at USD 69.00/shr. (RTRS)
  
  
• Renault - Authorities could take several months to establish the details of an alleged corporate espionage case at Co., Chief Executive Carlos Ghosn said, adding that he was not sure where the information had been leaked to. (WSJ) In other news, the co. is considering hiring as many as 4,700 workers by the end of 2013. (Le Pairsien)
  
  
• GDF Suez – Co. may sell about 20% of its GRTgaz unit to CNP Assurances SA and French state owned Caisse des Depots et Consignations. (Le Journal du Dimanche)
  
  
• Axa – Permira and Axa Private Equity are planning to make a joint EUR 500m bid for Opodo on Tuesday. (FT More)
  
  

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