COMPANIES

Borders close to securing refinancing: report

Bookseller Borders Group Inc told publishers in a meeting it was close to securing refinancing from GE Capital and other lenders, the New York Times reported, citing people familiar with the matter.

China's Changan Auto raises $530 mln in smaller deal

Changan Automobile (000625.SZ), a Chinese partner of Ford Motor (F.N), raised 3.5 billion yuan ($530 million) in a share offering after cutting the size of the deal by about 12 percent, the Chinese auto maker said on Friday.
Lehman Brothers

Lehman sees $60 billion bankruptcy payout, needs time

Lehman Brothers Holdings Inc said it will take longer than expected to win approval of a bankruptcy plan, and projects paying out $60.1 billion as it tries to settle differences with creditors owed six times that amount.
More news
Bernard Madoff

Judge approves $7.2 billion Madoff settlement

A U.S. judge approved a $7.2 billion settlement on Thursday to pay former customers of the Madoff firm, the largest yet in the worldwide search for money lost in Bernard Madoff's multibillion-dollar Ponzi scheme.

U.S. may challenge Google's ITA deal: source

U.S. regulators are putting together a possible antitrust challenge to Google Inc's planned $700 million acquisition of airline ticketing software company ITA Software, sources knowledgeable about the deal said on Thursday.
IBTimes Logo

S.Africa's Standard Bank to boost brokerage

The stockbroking arm of South Africa's Standard Bank is looking to boost its headcount, including equity analysts, following the end of a joint venture with Credit Suisse, senior executives said on Thursday.
IBTimes Logo

Shell to auction 4 more onshore oil blocks in Nigeria

Shell is putting up four Nigerian onshore oil blocks for auction as the oil major focuses on transferring some assets in Nigeria to local companies, Platts reported on Thursday, quoting sources close to the process.

Premier Oil Sees Lower Production for 2010

UK-based oil and gas explorer Premier Oil sees lower average production in 2010 as it saw increased maintenance activity in the North Sea, particularly during the second half of the year.

S&P: rates CNOOC Ltd. Proposed notes AA-

(The following was released by the rating agency)Standard & Poor's Ratings Services said today that it had assigned its 'AA-' issue rating to the proposed issue of U.S. dollar-denominated senior unsecured notes by CNOOC Finance (2011) Ltd. CNOOC Ltd. (AA-/Stable/--) irrevocably and unconditionally guarantees the notes.

Shanghai Pharma to apply for a HK listing - report

Shanghai Pharmaceuticals Holding Co Ltd (601607.SS) aims to raise at least 8 billion yuan ($1.21 billion) in a Hong Kong listing before the end of June, and will submit a listing application in Hong Kong this month, the South China Morning Post reported on Thursday.

China's Jinan Truck says unit involved in bank fraud

CNHTC Jinan Truck Co Ltd , a Chinese maker of heavy-duty vehicles, said on Thursday that a subsidiary was involved in a bank fraud that could threaten repayment of 500 million yuan ($75 million) worth of deposits.

Housing prices to hit bottom this spring: economist

U.S. housing prices overall are expected to hit bottom by spring 2011 and begin a gradual rise in 2012, Frank Nothaft, chief economist and vice president of housing lender Freddie Mac said on Wednesday.

Kenya Power eyes bond after $121 million cash call

Kenya Power, the country's sole power distributor, will lean on soft financing and may turn to the bond market, its chief executive said after unveiling results of a 9.5 billion shillings cash call.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.