COMPANIES

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.
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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.
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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.
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Barratt Developments sees 'significant' rise in H1 margin

British housebuilder Barratt Developments Plc said it expects operating margin for the first half to be around 5 percent, significantly up from 2.4 percent in the year-ago period. The company said its average selling price rose by about 6 percent.

DC Universe Internet Game Hits Stores

Sony Online Entertainment announced the availability of online action game DC Universe Online that allows players to create their own superhero or villain while joining forces with their favorite DC Comics characters such as Superman, Batman and The Joker to aid in saving - or destroying - the planet.

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