2013-12-29 16:49:34.148 GMT
By Cornelius Rahn
Dec. 29 (Bloomberg) -- Few investors willing to sell cos
for cash because of low interest rates, Handelsblatt reports,
citing Henkel CEO Kasper Rorsted.
Newspaper also reports:
* Co. still sees M&A opportunities in coming 3 yrs
* Detergent, cosmetics industries attractive because they’re
not as susceptible to economic swings
* Rorsted plans to remain at Henkel, feels “comfortable”
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Cornelius Rahn in Berlin at +49-30-70010-6212 or
crahn2@bloomberg.net
To contact the editor responsible for this story:
Kenneth Wong at +49-30-70010-6215 or
kwong11@bloomberg.net
2013-12-29 11:35:22.491 GMT
By Francesca Cinelli
Dec. 29 (Bloomberg) -- Biesse aims to boost revenue next
year as sales trend still negative while profitability rising,
Il Sole 24 Ore reports without citing anyone.
* Co. targets 2013 revenue at EU365m-EU370m compared with
EU383.1m in 2012; sees increase in sales from 2014 onwards:
Sole
* Biesse to strengthen abroad; North America, Far East to
contribute most to sales increase: Sole
Link to Company News:BSS IM <Equity> CN <GO>
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2013-12-29 11:34:47.355 GMT
By Cornelius Rahn
Dec. 29 (Bloomberg) -- Disagreement between VW truck units
Scania and MAN prompted Swedish competition authority to
evaluate whether order must be tendered again, Der Spiegel
reports, citing unidentified person close to VW CEO Martin
Winterkorn.
Newspaper also says:
* Rheinmetall MAN venture won tender by Norwegian and Swedish
military that was challenged by Scania
* Winterkorn angry over conflict between two VW units, which
may lead to competitor winning new tender
* Scania withdrew challenge but Swedish probe is continuing
* NOTE: Nov. 5, VW Says Scania-MAN Cooperation Meeting Truck-
Unit Savings Goal NSN MVSOWA6K50XX <GO>
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2013-12-29 09:24:22.341 GMT
By Catherine Bosley
Dec. 29 (Bloomberg) -- Straumann CEO Marco Gadola says
company’s premium versus competitors must fall, according to
interview with NZZ am Sonntag.
Newspaper also reports Gadola as saying:
* Considering M&A to boost position in mid-price segment, with
even “bigger acquisitions” possible
* Sees gradual recovery in Spain, Italy
* “Golden” years with 15% revenue growth won’t return
* Dentists across Europe to get higher quality implants for
same price
* Some products to be offered at discount of 15% or more in
Germany, Austria, Switzerland, with move planned for other
European countries
* NOTE: Straumann Preparing to Tackle Growing Value Segment in
U.S. NSN MVJ9QJ6S9748 <GO>
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+------------------------------------------------------------------------------+
BN 12/29 02:12 *ABE SAYS RELATIONS WITH CHINA ONE OF JAPAN'S MOST IMPORTANT BN 12/29 02:10 *ABE SAYS JAPAN STILL ONLY HALF WAY TO ENDING DEFLATION BN 12/29 02:08 *ABE: TO STUDY 2014 3Q DATA TO DECIDE ON SALES TAX RISE TO 10%
+------------------------------------------------------------------------------+
Abe: to Study 2014 3Q Data to Decide on Sales Tax Rise to 10% 2013-12-29 02:29:43.413 GMT
By Toru Fujioka Dec. 29 (Bloomberg) -- Japanese Prime Minister Shinzo Abe said the government will study July-September economic data before deciding on whether to increase the sales tax to 10%, to see whether the economy is recovering from the April levy boost to 8%. * Abe said Japan is only half way done in its goal of ending deflation, and if the current opportunity isn’t seized, the nation won’t be able to fix its fiscal health * Abe said Japan’s relations with China are one of its most important, and South Korea is also “an important neighbor” * Abe said nations must avoid causing “one problem” to affect everything else * NOTE: Radio Nippon said the interview was recorded on Dec. 24. That’s before Abe visited Yasukuni Shrine on Dec. 26 that memorializes war-dead including World War II criminals
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To contact the editor responsible for this story: Ken McCallum at +81-3-3201-8857 or kmccallum4@bloomberg.net
Qatar signs aid deal worth $1.25 billion for Morocco {http://reut.rs/18PX3tp} RABAT (Reuters) - Qatar and Morocco have signed an aid deal worth $1.25 billion, part of a five-year package of financial assistance extended by wealthy Gulf states to the North African kingdom to help it weather 'Arab Spring' protests.
Four Gulf states - Qatar, Saudi Arabia, Kuwait and the United Arab Emirates - agreed in 2012 to provide aid worth a total $5 billion to Morocco in the period 2012-2017 to build up its infrastructure, strengthen its economy and foster tourism.
Each of the four countries has committed $1.25 billion to Morocco for the whole five year period.
The aid is very welcome to King Mohamed - who signed the accord late on Friday with the visiting emir of Qatar - as he seeks to quell the kind of social discontent that helped to oust rulers elsewhere in North Africa, including Tunisia and Egypt.
Morocco is under heavy pressure from international lenders to reduce its budget deficit after spending heavily on food and energy subsidies and higher public sector salaries in 2011 and 2012 to help defuse social tensions.
Morocco has budgeted to receive a total $1 billion in aid from the Gulf states for 2014. It hopes to cut its budget deficit to 4.9 percent of gross domestic product next year from an estimated 5.5 percent in 2013.
Qatar was the last of the four Gulf states to sign the aid accord with Morocco. It was not immediately clear whether Qatar would disburse the aid installments for both 2012 and 2013, each worth $250 million, together.
The Gulf states have agreed a similar package of aid, also worth a total $5 billion over a five-year period, for Jordan.
2013-12-27 20:36:43.528 GMT
(Updates with SAC transitioning to family office in fifth
paragraph.)
By Saijel Kishan
Dec. 27 (Bloomberg) -- Balyasny Asset Management LP, the $4
billion hedge fund-firm run by Dmitry Balyasny, hired three
money managers from SAC Capital Advisors LP as part of its
expansion in London.
Massimo Amati and Stanislas De Caumont, who are
macroeconomic traders, and Robert Harris, who focuses on stocks,
will join in January, according to Balyasny spokesman Colin
Lancaster. Balyasny executives have been meeting with SAC money
managers over the past three months, he said.
Balyasny, based in Chicago and New York, opened an office
in the U.K. capital in the past month and plans to have about 20
money managers at the location in 2014, up from three currently,
Lancaster said. The firm also hired Adam Sutton, a money manager
from London-based Eclectica Asset Management LLP, who will be
starting next month, Lancaster said.
SAC, run by Steven A. Cohen, said in October that it closed
its London office, and in November agreed to pay $1.8 billion to
settle charges by the U.S. government that it engaged in insider
trading. SAC money managers in London have since been offered
positions at hedge-fund firms including Louis Moore Bacon’s
Moore Capital Management LP and BlueCrest Capital Management
LLP.
SAC is transitioning to a family office and executives
expect the firm will start 2014 with about $9 billion in assets,
compared with $15 billion at the beginning of this year.
The Wall Street Journal reported the Balyasny hires earlier
today. Jonathan Gasthalter, a spokesman for the Stamford,
Connecticut-based SAC at Sard Verbinnen & Co., declined to
comment.
For Related News and Information:
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NSN MYBZ8T6TTDSA <GO>
SAC Retreats in London as U.S. Pushes for Tough Settlement Terms
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Top hedge-fund stories TNI HEDGE WWTOP <GO>
Hedge-fund news NI HEDGE BN <GO>
Bloomberg Active Indexes for Funds BAIF <GO>
--Editors: Sree Vidya Bhaktavatsalam, Josh Friedman
To contact the reporter on this story:
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