(BN) *FBN'S GASPARINO SAYS BANKERS SAYING TWITTER OPEN TO SALE

BFW 07/02 19:22 *FBN’S GASPARINO SAYS BANKERS SAYING TWITTER OPEN TO SALE
BN 07/02 19:18 *FBN'S GASPARINO SAYS BANKERS SAYING TWITTER OPEN TO SALE
FBN’s Gasparino Says Bankers Saying Twitter Open to Sale
2015-07-02 19:32:10.737 GMT


By Karen Goldfarb and Beth Mellor
(Bloomberg) -- Charles Gasparino reiterates that bankers
say Twitter may be open to sale.

* TWTR up 1%; was ~flat before Gasparino comments
* NOTE: Yday, Re/Code said Facebook once tried to buy TWTR in
its “infancy” and is again considering a purchase
* NOTE: June 30, SunTrust analyst said Twitter takeover not
seen as imminent, noting recent speculation about FB
interest

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To contact the reporters on this story:
Karen Goldfarb in New York at +1-212-617-5732 or
kgoldfarb1@bloomberg.net;
Beth Mellor in New York at +1-212-617-3078 or
bmellor@bloomberg.net
To contact the editors responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
Beth Mellor

>>> Fitch issues commentary on US growth; lowering outlook to 2.2% in 2015 and 2

Fitch issues commentary on US growth; lowering outlook to 2.2% in 2015 and 2.5% for 2016 and 2017 
- Fitch: A narrowing output gap and approaching monetary tightening are reducing the US economy's ability grow at around 3% a year, Fitch Ratings says. We cut our outlook for US growth to 2.2% in 2015 and 2.5% in each of 2016 and 2017 in our latest quarterly "Global Economic Outlook", published on Tuesday, down from our previousforecasts of 3.1% for 2015 and 3.0% for 2016.
- Not only is the supply of capital and labour growing more slowly, but Bureau of Labor Statistics data this week showed total factor productivity increased at an annual rate of 0.8% last year - lower than the 1.4% average in 1995-2007. Slower productivity growth combined with temporary shocks such as those in 1Q15 means annual US GDP growth has averaged just 2.2% since 2010. As the output gap gradually narrows, growth rates should converge with potential output at around this level
- The US economy is also heading into a period of monetary tightening. We expect the first Fed rate increase before the end of 2015. We also expect the pace and extent of tightening to be subdued by historical norms, but higher rates will increase debt-servicing costs, and even a gentle exit from a long period of loose monetary policy could increase financial market and asset price volatility, affecting household wealth and confidence

(BFW) Glencore Execs Said to Meet Iranians Ahead of Nuclear Deal: FT

Glencore Execs Said to Meet Iranians Ahead of Nuclear Deal: FT
2015-07-02 14:50:04.880 GMT


By Ronald Day
(Bloomberg) -- Glencore oil head Alex Beard met in Tehran
with Iranian oil ministry and Iranian National Oil officials, FT
said, citing people familiar.

* Indicates traders seek to help OPEC member Iran return to
international oil market
* Talks focused on “potential business opportunities subject
to removal of relevant sanctions,” Glencore spokesman told
FT
* NOTE: Earlier, UN Nuclear Chief Seeks Clarity of Iran Past
in Tehran Talks


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To contact the reporter on this story:
Ronald Day in New York at +1-609-279-3007 or
rday1@bloomberg.net

(BFW) *EUR200-300B GREEK DEBT NEEDS RESTRUCTURING NO MATTER WHAT:GROSS

BFW 07/02 14:33 *EUR200-300B GREEK DEBT NEEDS RESTRUCTURING NO MATTER WHAT:GROSS
Janus Capital: Gross: Important Factoid: €200-300 billion of Greek debt will have to be restructured no matter what the vote.
2015-07-02 14:31:18.587 GMT

Gross: Important Factoid: €200-300 billion of
Greek debt will have to be restructured no
matter what the vote.
Janus Capital @JanusCapital
 
Sent With: Hearsay Social
  Original tweet on Twitter.com
found here.

Twitter profile information as of July 2, 2015

Description: Delivering fresh perspectives on investing for more than 40
years. Independent ideas backed by rigorous research. Important disclosures:
http://t.co/fRQw1NU00J

Tweets: 1,783  Following: 90  Followers: 12,319  Tweeting Since: 10/7/2008

-0- Jul/02/2015 14:31 GMT

>>> K&S - Confirms rejection of Potash offer at €41/shr Following a thorough rev

Confirms rejection of Potash offer at €41/shr 

Following a thorough review of all aspects and considering the overall circumstances, the Board of Executive Directors and the Supervisory Board of K+S Aktiengesellschaft today have decided to reject the unsolicited proposal of Potash Corporation of Saskatchewan Inc. to acquire all outstanding shares of K+S Aktiengesellschaft for 41 Euro per share. The proposed transaction does not reflect the fundamental value of K+S and is not in the best interest of the company.

CEO: Jointly with the Supervisory Board we have come to the conclusion that the proposed price of 41 Euro per share does not adequately reflect the fundamental value of K+S. Not only does this proposal undervalue our potash and magnesium products and our salt business, it completely disregards the value of our Legacy Project. The book value alone represents 11 Euro per share; considering future earnings we calculate a value of up to 21 Euro per share. This is not yet reflected in the share price. We believe PotashCorp is trying to take advantage of the valuation gap to take over K+S and gain control over Legacy. 

Legacy is the first greenfield project in the potash industry in almost 40 years. K+S has already invested more than 2 billion Euro in the project which is on time and on budget. The first tonnes of potash will be produced by the end of 2016 and positive cash flows will be generated already from 2017 onwards.

K+S strong outlook is also driven by ongoing strategic initiatives across both the potash and magnesium and salt business units. The Salt 2020 strategy alone is expected to produce a sustainable increase in operating profit of up to 250 million Euro. Furthermore, the Fit for the Future efficiency program is expected to deliver cumulative cost savings of more than 500 million Euro by the end of 2016.

Overall, K+S expects to see Group EBITDA to increase to 1.6 billion Euro by 2020 with the Legacy Project contributing on average annual operating cash flow growth of more than 10% up to this point.

Since the Boards continue to remain committed to its dividend policy of a pay out of between 40-50% of its adjusted operating income after taxes, shareholders can look forward to an attractive dividend yield in the coming years.