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| Saturday, May 25, 2013 10:10 AM PDT | |
| Today's Reuters Business News Headlines - Yahoo! News:
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| CA-BUSINESS Summary Saturday, May 25, 2013 10:10 AM PDT Valeant deal sparks share jump, helps TSX ends week higher TORONTO (Reuters) - Canada's main stock index reversed earlier losses on Friday after several stocks jumped on takeover moves, helping the TSX shrug off uncertainty over U.S. central bank monetary policy that hurt U.S. indices. Shares in Valeant Pharmaceutical International Inc jumped more than 13 percent to C$86.91 after a source said the company is close to a $9 billion deal to acquire eye care company Bausch & Lomb. ... Full Story | Top |
| Blackstone notifies Cohen's SAC it intends to pull money: pension consultant Saturday, May 25, 2013 10:10 AM PDT  By Matthew Goldstein (Reuters) - Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters. A pension consultant, in a May 21 letter to clients, said Blackstone has notified Cohen that it intends to "fully redeem" a significant portion of the roughly $550 million the investment firm has invested with the $15 billion hedge fund. ... Full Story | Top |
| African Development Bank to issue second Uganda shilling bond Saturday, May 25, 2013 05:00 AM PDT NAIROBI (Reuters) - The African Development Bank (AfDB) is to launch a 12.5 billion shillings bond on the Ugandan market, the second such issue from its 125 billion shilling issuance programme launched last year. The second tranche, which is to be sold as a tap sale on the original medium-term note issued in July last year, will be open for subscription until May 27. The coupon will be 85 percent of the yield on Uganda's benchmark two-year government bond, African development bank said in statement late on Friday. ... Full Story | Top |
| Egypt to return taxes collected from Qatar bank deal Saturday, May 25, 2013 04:37 AM PDT CAIRO (Reuters) - Egypt will refund taxes collected from Qatar National Bank's acquisition of National Societe Generale Bank to shareholders on Sunday, an official from a clearing company told Reuters on Saturday. The clearing company will return 10.2 million Egyptian pounds total in taxes it collected from NSGB shareholders, said Tariq Abdel Bari, managing director of Misr for Central Clearing, Depository and Registry. ... Full Story | Top |
| Egyptian tycoon to buy MTS fiber network in new Canada push Saturday, May 25, 2013 01:13 AM PDT  By Alastair Sharp and Euan Rocha TORONTO (Reuters) - Manitoba Telecom Services Inc will sell its Allstream fiber optic network to a company controlled by telecom tycoon Naguib Sawiris for C$520 million (US$503 million), a deal that signals the Egyptian magnate is still keen on Canada. Under an agreement announced on Friday, Accelero Capital Holdings, which was founded by Sawiris and is stacked with executives from telecom companies he owns or in which he is invested, gets Allstream landline network and its 50,000 business customers. ... Full Story | Top |
| Brazil to boost investments in Ethiopia Saturday, May 25, 2013 12:43 AM PDT By Aaron Maasho ADDIS ABABA (Reuters) - Brazil signed cooperative agreements with Ethiopia on Friday and Brazilian companies are looking to expand investments in the fast-growing Horn of Africa country, an Ethiopian minister said. Ethiopia's State Minister of Foreign Affairs Berhane Gebrekristos said a visiting Brazilian delegation had signed memorandums of understanding and agreements on education, agriculture, science and technology, and air transport. ... Full Story | Top |
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