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11th of April 2005 News
Știri așa cum au apărut pe prima pagină a New York Times la 11 aprilie 2005
PROCTER & GAMBLE WILL RAISE DIVIDENDS
Date: 12 April 2005
By Bloomberg News
Bloomberg News
The Procter & Gamble Company said yesterday that it would raise its quarterly dividend by 12 percent after increasing sales and profit last year. The dividend will increase to 28 cents a share, from 25 cents, starting May 16 for shareholders of record as of April 22, the company said. Procter & Gamble said that it had been paying dividends since it was set up in 1890, and the latest increase would mark the 49th consecutive fiscal year of dividend gains. The company, which is based in Cincinnati, agreed in January to buy Gillette, the world's largest razor maker, for $57 billion to lift sales in the personal care business and add products like Duracell batteries to its own brands.
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STARBUCKS PURCHASES A BOTTLED WATER COMPANY
Date: 12 April 2005
By Bloomberg News
Bloomberg News
The Starbucks Corporation said yesterday that it had acquired Ethos Water to expand its line of beverages. Ethos's bottled waters will be sold at Starbucks's American stores later this year, Starbucks said. Ethos, founded in 2002 in Santa Monica, Calif., is a closely held company that gives away a portion of its revenue to support clean-water projects in developing countries. Starbucks, which is based in Seattle and has 9,000 locations, has added Frappuccino coffee drinks, Tazo tea and luncheon salads and sandwiches to its menu. The terms of the transactions, which was completed April 6 and will not affect Starbucks's financial targets, were not disclosed.
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KINDER MORGAN WILL ACQUIRE SEVEN STORAGE FACILITIES
Date: 12 April 2005
By Bloomberg News
Bloomberg News
Kinder Morgan Energy Partners, the nation's second-largest energy pipeline partnership, has agreed to buy seven bulk terminals for $245 million to capitalize on increasing shipments of petroleum coke, a refining byproduct. The seller, Trans-Global Solutions, will receive about $184 million in cash and $46 million in partnership units at closing, which is expected by the end of this month, Kinder Morgan said yesterday. Closely held Trans-Global will get an additional $15 million in partnership units in two years. The terminals, all located in Texas, are expected this year to handle 10 million tons of petroleum coke, a residue from crude-oil refining used as a fuel for power generation and cement kilns. Kinder Morgan said the terminal purchase would make the partnership the nation's biggest handler of petroleum coke, with market share of about 33 percent. Both companies are based in Houston.
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AMBAC NAMES A NEW CHIEF FINANCIAL OFFICER
Date: 12 April 2005
By Bloomberg News
Bloomberg News
Ambac Financial Group, the second-largest bond insurer, said yesterday that it had hired Sean T. Leonard from PricewaterhouseCoopers to become chief financial officer. Mr. Leonard, 40, has been a partner at the accounting firm and will succeed Thomas J. Gandolfo, who will take charge of Ambac's investment portfolios on June 30, Ambac said. Mr. Leonard worked in the insurance and capital markets practices at PricewaterhouseCoopers and represented the firm as a practice fellow on the Financial Accounting Standards Board. Mr. Gandolfo, 45, has been chief financial officer at Ambac since December 2002, when he was elevated from corporate controller. Ambac is based in New York.
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CHIEF OF ABERCROMBIE & FITCH WILL FORGO SOME PAY
Date: 12 April 2005
By Bloomberg News
Bloomberg News
The chief executive of Abercrombie & Fitch, Michael Jeffries, has agreed to cut a $12 million bonus in half and forgo new stock options for two years to settle shareholder claims that he received excessive compensation. Shareholders at Abercrombie, a casual-clothing retailer, sued in Delaware Chancery Court in February on behalf of the company, saying directors wasted corporate assets by giving Mr. Jeffries up to $22.9 million in annual benefits including stock and options. In papers filed with the court yesterday, lawyers for Mr. Jeffries and directors denied wrongdoing and said they settled to avoid litigation. The company, based in New Albany, Ohio, plans to expand to Europe next year.
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NCR, A MAKER OF A.T.M.'S, RAISES PROFIT ESTIMATES
Date: 12 April 2005
By Bloomberg News
Bloomberg News
The NCR Corporation, whose chief executive, Mark V. Hurd, left for the top job at Hewlett-Packard, said yesterday that its first-quarter profit would be at least 16 cents a share, higher than an earlier forecast of 2 cents to 5 cents a share, because of strong sales of its automated teller machines, checkout scanners and data warehousing products. NCR, which will report first-quarter results on April 28, also raised its full-year earnings expectations. NCR said it expected to report quarterly revenue of $1.34 billion, up 4 percent from the same quarter last year. Mr. Hurd, who was named chief executive of Hewlett-Packard on March 29, cut costs and increased sales of higher-profit software at NCR. The company is based in Dayton, Ohio.
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GOODYEAR SECURES LOWER-INTEREST LOANS AND CREDIT LINES
Date: 12 April 2005
By Bloomberg News
Bloomberg News
The Goodyear Tire and Rubber Company said yesterday that it had secured $3.65 billion in new loans and credit lines to replace $3.28 billion of financing with higher interest rates. The new borrowings run through at least 2010, replacing debt with higher rates expiring in 2005, 2006 and 2007, Goodyear said. J.P. Morgan Chase, Citigroup, Deutsche Bank and BNP Paribas last month offered Goodyear lower interest margins on most of its loans after the tire manufacturer reported on March 16 its first full-year profit since 2000, people close to the transaction said last month. Goodyear is based in Akron, Ohio.
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Trade Surplus in China Hit $5.7 Billion in March
Date: 12 April 2005
By Bloomberg News
Bloomberg News
China's trade surplus reached $5.7 billion in March, up from $4.4 billin in February and rebounding from $630 million deficit in March 2004; exports rose 33 percent from year earlier, to $60.9 billion, after gaining 37 percent in first two months of year; imports increased 19 percent, to $55.1 billion in March, after rising 8.3 percent in first two months of year (M)
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Technology Briefing | Deals: Biosource Board Rejects Unsolicited Bid
Date: 12 April 2005
By Bloomberg News
Bloomberg News
BioSource International, a provider of antibodies and other products used in biomedical research, said yesterday that its board had rejected Bio-Rad Laboratories' unsolicited offer to buy the company for $82 million. Bio-Rad had sent a letter to BioSource earlier this month offering to buy all the company's outstanding stock for $8.50 a share. BioSource said it postponed its annual meeting, set for May 24, after Bio-Rad announced plans to nominate six directors. BioSource's board concluded that the offer was too low, though the company hired UBS and Weil, Gotshal & Manges to advise it on a possible sale. BioSource, based in Camarillo, Calif., has rejected previous offers from Bio-Rad. BioSource shares gained 7 cents, to $9.55. Bio-Rad shares fell 28 cents, to $50.08.
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Technology Briefing | Services: Priceline Adds Travel Search Engine
Date: 12 April 2005
By Bloomberg News
Bloomberg News
Priceline.com, the Internet travel service, said yesterday that it added a travel search engine to help consumers comparison-shop for airline fares, hotel rooms and rental cars. The service is being introduced as part of a redesign of Priceline.com's Web site, the company, based Norwalk, Conn., said. Travelers can also continue to use the company's ''name-your-own'' price offering, in which consumers bid on discounted travel without being told which airline, flight times or hotels they booked until the bid is accepted. Priceline.com chief executive, Jeffery H. Boyd, is increasing sales by adding traditional travel agency services. The company said it decided to add the search engine after allowing travelers to comparison shop for airline fares on the site increased the dollar amount of all travel booked on Priceline.com 52 percent last year. Shares of Priceline.com fell 12 cents, to $26.41.
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