Manpreet Gill, Senior Investment Strategist at Standard Chartered, explains why he favors European equities.» Read More
Morgan Stanley's Qatar head Khalid al-Subeai resigned last week to join the investment banking division of unlisted Barwa Bank, while Goldman's Qatar Chief Executive Tamim al-Kawari has joined investment bank QInvest, part-owned by Qatar Islamic Bank, as deputy CEO, according to several sources aware of the matter.
Oct 8- Media General Inc said it has sold its last newspaper, the Tampa Tribune, and raised its full-year revenue forecast for political advertising on its TV stations due to stronger-than-anticipated demand in key election battlegrounds.
Oct 8- NBT Bancorp Inc will buy Alliance Financial Corporation in a deal valued at about $233.4 million to expand its footprint in New York. The NBT-Alliance deal is valued at $48.24 per share-- a 22 percent premium to the stock's Friday close. NBT, which had assets of $6 billion as of June 30, will get an additional $1.4 billion in assets through the deal.
U.S. stocks declined after the World Bank cut growth forecasts for East Asia, highlighting concerns about the global economic climate and corporate profits on the cusp of the quarterly earnings season. **GREEN DOT CORP, $10.55, down 17.9 pct. **NETSPEND HOLDINGS INC, $10.00, down 6.98 pct.
Oct 8- Vringo Infrastructure Inc, a unit of mobile phone software maker Vringo Inc, filed a patent infringement lawsuit against the UK unit of Chinese telecommunications equipment maker ZTE Corp, driving up Vringo's shares by as much as 21 percent in early trading.
NEW YORK-- A strong warning from the World Bank that growth in Asia may slow further dragged the price of oil Monday to its lowest close in two months. The World Bank signaled the possibility of a "more pronounced slowdown" in China, the world's second largest economy after the United States.
Oct 8- Navistar International Corp agreed to appoint three new members to its board, avoiding a proxy fight with activist investors Carl Icahn and Mark Rachesky, who have demanded changes at the U.S. truck and engine maker. Navistar shares gained 5 percent to $22.28 in early trading on Monday following the news.
*Move to hit Bharti, Idea, Reliance Comm, Vodafone. NEW DELHI, Oct 8- Long-established Indian mobile operators face a total surcharge of at least 270 billion rupees to continue using the airwaves, reflecting an expected rise in prices paid by newer rivals in an upcoming auction.
**GREEN DOT CORP, $10.31, down 19.8 pct. **NETSPEND HOLDINGS INC, $10.00, down 6.98 pct. **WAL-MART STORES INC, $75.47, down 0.45 pct.
Oct 8- Targacept Inc said it would cut its workforce to 43, or by about 38 percent, due to the failure of its attention deficit hyperactivity disorder drug, and expects the move to save about $9.6 million per year beginning next year. Targacept expects one-time severance and other charges of about $1.5 million in the fourth quarter due to the layoffs.
NEW DELHI, Oct 8- Indian state-fuel retailers will marginally cut gasoline prices from Tuesday, reflecting a strengthening rupee, the country's largest fuel retailer Indian Oil Corp said on Monday. The new retail prices of gasoline in Delhi will be 67.90 rupees a litre, about 0.8 percent lower than current 68.46 rupees a litre.
**GREEN DOT CORP, Friday close $12.85, down 23 pct premarket. **NETSPEND HOLDINGS INC, Friday close $10.75, down 12 pct premarket. Shares of Prepaid card companies Green Dot and NetSpend fell after Wal-Mart and American Express announced a partnership to offer customers an alternative to debit and checking accounts.
Oct 8- Allscripts Healthcare Solutions Inc. received offers from a private-equity consortium including Blackstone Group LP and Carlyle Group LP, Bloomberg reported, sending the healthcare company's shares up 6 percent in premarket trade. Bloomberg, quoting sources, said Allscripts wanted second-round offers within three to four weeks.
MUMBAI, Oct 8- The Indian government ruled out an inquiry into allegations of improper dealings between the son-in-law of India's most powerful politician, Sonia Gandhi, and property developer DLF Ltd, even as the firm's shares plunged on the claims.
Oct 8- NBT Bancorp Inc said it agreed to buy Alliance Financial Corporation in a deal valued at about $233.4 million to expand its footprint in New York. NBT, which had assets of $6 billion as of June 30, will get an additional $1.4 billion in assets through the deal. This includes $890 million in net loans held for investment, and $1.1 billion in deposits.
LONDON, Oct 8- Britain is in danger of suffering a long-term loss of liquefied natural gas supply as top exporter Qatar sends only left-over short-term deliveries to the UK while more and more of its LNG goes to higher paying Asian customers. Analysts and British energy companies say the strategy rewards Qatar but puts Britain at a significant disadvantage.
Oct 8- Navistar International Corp agreed to appoint three new members to its board, preventing a proxy fight with activist investors Carl Icahn and Mark Rachesky. The U.S. truck and engine maker said Vincent Intrieri, an Icahn nominee, and Rachesky have been named to the board. A third director will be designated and mutually agreed upon.
Oct 8- Renewable Energy Group said it would post an adjusted core loss for the third quarter as biodiesel prices fell by more than a third, sending its shares down 19 percent premarket. The company expects to report an adjusted loss of $2 million to $7 million before interest, taxes, depreciation and amortization.
Oct 8- Chemicals maker TPC Group Inc on Monday said it received a buyout proposal from Innospec Inc. Private equity firms First Reserve Corp and SK Capital Partners in August had offered $627.2 million to acquire TPC. Innospec, a specialty chemical maker, could offer $44 to $46 per share in cash, TPC said in a statement on Monday.
NEW DELHI, Oct 8- Reliance Industries' key gas producing fields off India's east coast could be exhausted in five years, Morgan Stanley analysts said in a report. The researchers' findings are based on estimates by block D6 partner Niko Resources that total proved plus probable reserves at the block had decreased to 1.93 trillion cubic feet as of March 31.