FRANKFURT, Feb 20 (Reuters) - Stefan Quandt has become BMW's largest single shareholder, giving him a big enough stake to block any potential takeover of the Bavarian carmaker, a regulatory filing showed on Tuesday.The 51-year-old German entrepreneur's direct ownership increased with shares inherited from his mother, giving him a so-called "blocking stake" of 25.83 percent, worth 13.4 bi...Read More
* Under pressure from ECB, PTSB kicks off bad loan sale* Analysts say political opposition could lower sale price By Padraic HalpinDUBLIN, Feb 20 (Reuters) - Ireland could consider boosting protection for borrowers whose loans are sold to unregulated funds, Prime Minister Leo Varadkar said on Tuesday, amid political opposition to a planned sale by majority state-owned permanent tsb (PTSB) .Irish...Read More
* U.S. to sell record amounts of 3-month, 6-month bills* U.S. to auction $55 bln 1-month bills, $28 bln 2-year notes By Richard LeongNEW YORK, Feb 20 (Reuters) - U.S. Treasury yields rose on Tuesday with the benchmark 10-year yield hovering near a four-year peak as investors made room for this week's deluge of $258 billion of government debt supply.The Treasury Department has ramped up its borrow...Read More
DAR ES SALAAM, Feb 20 (Reuters) - Foreign-owned banks, insurance companies and law firms could be locked out of Tanzania's mining sector as part of tough new regulations that aim to limit foreign ownership of mining-related activity.Africa's fourth-largest gold producer is seeking to take more of the profits from its vast mineral resources by overhauling the fiscal and regulatory regime of its min...Read More
* Rand weakens 0.4 percent* Retailers feature in decliners' list on bourse* Government bonds flat (Adds detail, fresh quotes, updates figures)JOHANNESBURG, Feb 20 (Reuters) - The South African rand slipped on Tuesday, retreating from last week's three-year high as investors bagged profits ahead of the government's budget speech. Investors are also focusing on an expected cabinet shake-up under new...Read More
LAGOS, Feb 20 (Reuters) - The Nigerian short-term treasury bill yield fell 50 basis points on Tuesday as traders expect a drop in second quarter auction volumes after the government raised $2.5 billion from a Eurobond last week to payoff some maturities.The government has been working to lower its borrowing costs, particularly as inflation fell for the 12th time in a row in January. It sold Eurobo...Read More
DAR ES SALAAM, Feb 20 (Reuters) - Foreign-owned banks, insurance companies and law firms could be locked out of Tanzania's mining sector as part of tough new regulations that aim to limit foreign ownership of mining-related activity.Africa's fourth-largest gold producer is seeking to take more of the profits from its vast mineral resources by overhauling the fiscal and regulatory regime of its min...Read More
Tech stock Ubiquiti Networks Inc (NASDAQ:UBNT) is tanking today, after the Securities and Exchange Commission (SEC) issued subpoenas to several officers, and requested accounting and trade documents. Last September, notable short-selling firm Citron Research called Ubiquiti a "total fraud," and compared its CEO to Bernie Madoff. Meanwhile, biotech MiMedx Group Inc (NASDAQ:MDXG) is also in hot wa...Read More
Aimmune Therapeutics Inc (NASDAQ:AIMT) stock is in focus this morning, after the company's peanut allergy drug AR101 met its late-stage study goals. Aimmune will now seek U.S. approval by the end of 2018. After being halted in pre-market trading, AIMT stock is up 1.3% to trade at $37.30, and touched a fresh record high of $42 out of the gate this morning.Thestock has been climbing since October,...Read More
LONDON (Reuters) - African miner Randgold Resources (RRS.L) is looking to make its first acquisition outside its home continent in North and South America to diversify its portfolio of assets, its chief executive Mark Bristow told Reuters.The London-listed miner has invested throughout the commodity price downturn, generated cash and steadily increased dividends while rivals have been struggling w...Read More
BELGRADE, Feb 20 (Reuters) - The Serbian central bank bought euros on the local interbank market on Tuesday to stem gains of the dinar which has been bolstered by auctions of treasury bonds, dealers and traders said.The bank, which a day earlier purchased 30 million euros,stepped in as the dinar traded at 118.05 to the euro or 0.11 percent stronger than the previous close. (Reporting by Aleksandar...Read More
Shares of Wayfair Inc (NYSE:W) and Etsy Inc (NASDAQ:ETSY) have outperformed over the past year, and analysts are expecting more upside ahead as both companies prepare to report earnings over the next week. Let's take a quick look at W and ETSY stocks today, and how Wall Street is gearing up for the upcoming quarterly updates. Wayfair Hits New High After Price-Target HikesWayfair this morning saw i...Read More
* Dollar index hits six-day high* U.S. Treasury auctions seen as test of investors' appetite (Updates throughout to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Feb 20 (Reuters) - The dollar rose to a six-day high against a basket of major currencies on Tuesday, extending a rebound from a three-year low last week, as investors shrugged off worries about the U.S...Read More
(New throughout, updates prices, market activity and comments)TORONTO, Feb 20 (Reuters) - Canada's main stock index see-sawed on Tuesday, with strength in the heavyweight energy sector offseting weakness among mining stocks.At 9:48AM EST (1448 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 6.89 points, or 0.04 percent, to 15,459.53.* The energy group climbed 0.4 percent, with...Read More
By Elias BiryabaremaKAMPALA, Feb 20 (Reuters) - Uganda's government said on Tuesday its domestic borrowing would be around 75 percent higher than budgeted this year to cover wages and infrastructure projects after huge shortfalls in projected tax collections.In his budget speech in June, Finance Minister Matia Kasaija said the government would borrow 954 billion Ugandan shillings($263 million) in...Read More
BRUSSELS, Feb 20 (Reuters) - Euro zone consumer confidence fell by more than expected in February from a 17-year high in January, a flash estimate for the European Commission showed on Tuesday.The Commission said that consumer sentiment fell to 0.1 points from a revised 1.4 points in January. Economists polled by Reuters had on average expected a figure of 1.0.In the wider European Union, confiden...Read More
(Adds missing word "investor" in the headline)Feb 20 (Reuters) - MOLOGEN AG :* FINANCING AGREEMENT TO SUBSCRIBE CONVERTIBLE BONDS FOR AN AGGREGATE AMOUNT OF UP TO EUR 12 MILLION* ENTERED INTO AGREEMENT WITH LUXEMBOURG-BASED FINANCING PROVIDER EUROPEAN HIGH GROWTH OPPORTUNITIES SECURITIZATION FUND* BONDS WILL BE ISSUED IN UP TO 24 TRANCHES OF EUR 500,000 EACH AT COMPANY'S REQUEST* PROCEE...Read More
An auction for the $2 billion Michiquillay copper project in Peru attracted 10 interested companies according to Peru's government investment agency Proinversi??n with Southern Copper Corp declared the winner on Tuesday .Reuters reports Southern Copper won the tender with a proposal to transfer $400 million to the government and pay 3% royalties. Southern Copper is controlled by conglomerate Grup...Read More
Rite Aid Corporation (NYSE:RAD) stock is up 11.5% in electronic trading, after grocery chain Albertsons said it will buy the parts of the drugstore that are not being sold to Walgreens Boots Alliance (WBA) -- following last year's failed merger. RAD CEO John Standley will head the combined company, which is expected to bring in roughly $83 billion in annual revenue. The deal is expected to close i...Read More
DAKAR, Feb 20 (Reuters) - Democratic Republic of Congo's President Joseph Kabila has not yet signed into law a new mining code, a senior aide said on Tuesday, as international mining companies wage a last-ditch lobbying effort against the measure.The comments by Jean-Pierre Kambila, Kabila's deputy chief of staff, come amid uncertainty about whether the president intends to sign the new code, whic...Read More