Former Bank of Ireland governor Richard Burrows appointed chairman of British American TobaccoAugust 19th, 2009 BAT appoints new chairmanLONDON — British American Tobacco PLC said Wednesday that Richard Burrows, a former governor of the Bank of Ireland, will become the company's new chairman later this year. The 63-year-old will replace Jan du Plessis, who is stepping down after he took up a similar role with Anglo-Australian miner Rio Tinto PLC.
UBS analyst raises rating on Coca-Cola Enterprises, sees gains from rival bottler dealAugust 13th, 2009 Analyst upgrades Coca-Cola Enterprises to 'Buy'NEW YORK — A UBS analyst upgraded shares of Coca-Cola Enterprises on Thursday and said the soft drink bottler will benefit from rival PepsiCo Inc.'s deal with its bottlers. UBS analyst Kaumil S.
Source: China's Yanzhou in talks to buy Australian coal miner Felix Resources for $2.9 billionAugust 11th, 2009 Yanzhou considers takeover of Australia's FelixSYDNEY — China's Yanzhou Coal Mining is in talks to buy Australian coal miner Felix Resources Ltd. in a cash takeover bid worth about 3.5 billion Australian dollars ($2.9 billion), a person close to the negotiations said Tuesday.
Xstrata posts 77 percent fall in first-half profit, still seeks merger with Anglo AmericanAugust 4th, 2009 Xstrata posts 77 pct fall in first-half profit
GENEVA — Mining company Xstrata PLC said net profit fell 77 percent in the first six months of the year as a result of lower commodity prices, and reiterated that its merger offer to rival Anglo American PLC would be "highly compelling" to both sets of shareholders. Xstrata's profit tumbled to $643 million, compared with $2.78 billion in the same period last year.
Anglo American H1 profit down 31 percent as revenue slumps amid recessionJuly 31st, 2009 Anglo American H1 profit down 31 percentLONDON — Mining company Anglo American PLC said Friday that net profit in the first half of the year fell by 31 percent as both the prices and volumes of its sales slumped amid the global recession. The company said net profit for the period was $2.97 billion, compared to $4.28 billion a year earlier.
Anglo American names Sir John Parker as chairmanJuly 10th, 2009 Mining major Anglo American picks Sir John Parker as chairman
LONDON — Mining company Anglo American PLC said Friday that Sir John Parker has been chosen as its next chairman of the board, resisting pressure from the South African government to appoint a black executive. Parker, whose appointment is effective on Aug.
Miner Rio Tinto sells Alcan food packaging division for $1.2 billion to reduce debtJuly 6th, 2009 Rio Tinto offloads Alcan division for $1.2 billionSYDNEY — Rio Tinto has sold a division of its Alcan unit for $1.2 billion as it continues to reduce debt, the Anglo-Australian miner said in a statement Monday. The deal to sell its Alcan Packaging Food Americas division to U.S.-based Bemis Company Inc.
Chinalco maintains 9.3 percent stake in Rio Tinto through $15.2 billion rights issueJuly 2nd, 2009 Chinalco maintains 9.3 percent stake in Rio TintoMELBOURNE, Australia — State-controlled Aluminum Corp. of China said Thursday it took up its full entitlement in Rio Tinto's $15.2 billion share issue to maintain a 9.3 percent stake in the Anglo-Australian miner.
CNB Financial Corp. of Worcester opts for merger with UFB, ends merger with Berkshire BankJune 26th, 2009 CNB Financial of Worcester opts for UFB mergerWORCESTER, Mass. — CNB Financial Corp.
US stock market set for lower open as World Bank reduces 2009 forecast for global economyJune 22nd, 2009 Stocks pull back as global economic worries riseNEW YORK — Lowered expectations for the global economy are giving investors more to be wary about. Stocks are retreating in the first minutes of trading Monday after the World Bank predicted the global economy will shrink 2.9 percent in 2009.
Swiss mining giant Xstrata seeks 'merger of equals' with rival Anglo-AmericanJune 21st, 2009 Miner Xstrata seeks merger with Anglo AmericanZUG, Switzerland — Swiss mining giant Xstrata PLC said Sunday it is seeking a merger with rival Anglo American PLC. Xstrata said it "recently sent a written proposal to the board of Anglo American seeking their consideration of a merger of equals of the two companies."
"A merger of these two world-class companies with complementary assets is highly compelling," the company said in a statement posted on its Web site, adding that substantial cost savings could result if the deal proceeds.
Miner Rio Tinto ends $19.5 billion deal with Chinese firm ChinalcoJune 5th, 2009 Rio Tinto scraps deal with Chinese firm ChinalcoSYDNEY — Anglo-Australian miner Rio Tinto PLC on Friday ended its $19.5 billion deal with Chinese company Chinalco, instead saying it plans to raise $15.2 billion in a share sale. Rio Tinto Chairman Jan du Plessis said in a letter to shareholders the planned deal with Chinalco was now dead and his company would pay it a $195 million break fee.
Anglo Irish Bank loses euro3.8 billion in 6 months because of defaults on its loans to developersMay 29th, 2009 Anglo Irish Bank loses $3.8 billion in 6 monthsDUBLIN — Anglo Irish Bank is reporting a massive loss of euro3.8 billion ($5.3 billion) in just six months because of widespread defaults in its loans to property developers. Finance Minister Brian Lenihan says the government, which nationalized the bank in January, plans to deposit up to euro4 billion into the bank in coming weeks subject to European Union regulatory approval.
China Unicom says 1Q profit $525 million following merger with rival China NetcomApril 29th, 2009 China Unicom says 1Q profit $525 millionBEIJING — China Unicom Ltd., one of China's three major state-owned phone companies, said Wednesday it earned 3.6 billion yuan ($525 million) in the first quarter following its merger with rival China Netcom. The profit for the three months ending March 31 was equal to 0.15 yuan per share, the Beijing-based company said.
Merger of Reliance Industries, fuel exporting arm approvedMarch 2nd, 2009 MUMBAI - In one of the largest merger deals in India, Reliance Petroleum will merge with its parent and the country's biggest company, Reliance Industries, in what the promoters say will create better synergies for them in the hydrocarbons space. The board of the two companies met here Monday to unanimously approve the merger in the ratio of one share of Reliance Industries for every 16 shares of Reliance Petroleum.
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