JP MORGAN EXTENDS REACH WITH £1B CAZENOVE BUY
JPMorgan Chase extends its reach in Europe with the expected announcement that it will pay £1 billion to take full control of an investment banking and broking joint venture it set up with Cazenove Group in 2005.
JPMORGAN CAZENOVE CEO COULD LEAVE
JPMorgan Cazenove Chief Executive Naguib Kheraj Thursday said he may step down once JPMorgan completes its integration of Cazenove Group Ltd., its former partner in an investment banking joint venture it agreed to buy out earlier Thursday.
BLACKSTONE TO BUY BIRDS EYE FOR $1.3B
Blackstone's Pinnacle Brands is set to buy Birds Eye Foods, the largest frozen-vegetable company in the U.S., for more than $1.3 billion, people familiar with the matter tell The Wall Street Journal.
EU SENDS ANTITRUST LIST TO STANDARD & POOR'S
The European Commission says it has sent a list of antitrust charges to U.S. credit ratings agency Standard & Poor's. The commission says it believes the agency may be abusing its dominant position on the market.
AXA STICKING TO AXA ASIA PACIFIC OFFER TERMS
French insurer AXA says that it hasn't modified or withdrawn its joint takeover proposal with Australian wealth manager AMP for AXA Asia Pacific Holdings Ltd.
INFINEON SWINGS TO 4Q PROFIT ON DEMAND
German semiconductor maker Infineon Technologies says it swung to a 4Q profit on growing demand for its logic chips and after the prior-year result was hit by heavy losses at memory chip unit Qimonda.
SABMILLER SEES OUTLOOK STARTING TO IMPROVE
Brewer SABMiller says that, while tough trading conditions will continue in the second half of its financial year, the outlook is starting to improve, and it stands to benefit from favorable currency exchange and the easing of cost pressures.
UK WATCHDOG BLOCKS BAYER LIVER DRUG
The U.K.'s health regulator blocks liver cancer drug Nexavar, saying it is too pricey for the state health service to use, serving a blow to manufacturer Bayer and its partner Onyx Pharmaceuticals.
BAYER TO APPEAL UK'S DECISION TO BLOCK NEXAVAR
German pharmaceutical and chemical company Bayer AG (BAY.XE) said Thursday it will appeal a decision by the U.K.'s healthcare cost regulator not to recommend the company's Nexavar for liver cancer treatment.
SEARS LOSS NARROWS; KMART STRONG
Retailer posts a 3Q loss of $127 million, or $1.09 a share, on higher margins and cost cuts, as the owner of the Sears department stores posts same-store sales growth at Kmart. Sears shares rise 3% early.
VIVENDI SAYS NO DECISION YET ON NBCU EXIT
Entertainment-to-telecom conglomerate Vivendi's Chief Financial Officer Philippe Capron says Vivendi wants to exit NBC Universal but that its board hasn't yet made a decision for this year as the situation is "complex."
NATIONAL GRID PRETAX PROFIT RISES ON LOWER COSTS
Gas and power network operator National Grid posts a 16.3% rise in pretax profit despite flat revenue for 1H of the fiscal year due to lower financing costs and higher operating cash flow.