DJIA: 17,826.30  -279.47 (-1.54%) | NASDAQ: 4,931.814  -75.976 (-1.52%) | S&P 500: 2,081.18  -23.81 (-1.13%) Markets closed

  • Show Article Details

    Sweden's Ericsson, the world's biggest maker of mobile telecoms equipment, will probably have to expand its range of fixed line products to defend its turf following Nokia's (NOK) purchase of Alcatel-Lucent. As the Finnish and French firms combine, Ericsson will face a much stronger competitor with a broader product offering, bigger sales and R&D clout than itself.

  • Show Article Details

    Nokia will buy Alcatel-Lucent in an all-share deal that values its smaller French rival at 15.6 billion euros, building up its telecom equipment business to compete with market leader Ericsson. The deal will redefine a sector suffering weak growth prospects and pressure from low-cost Chinese players Huawei and ZTE.

  • Show Article Details

    PARIS, April 16 (Reuters) - European stocks were set for a steady open on Thursday, taking a breather from their recent sharp rally, with shares in automakers in focus after strong industry figures. Data showed on Thursday Europe's auto market recovery gained a firmer footing in March, with Germany, Britain, France, Italy and Spain all posting solid gains. At 0610 GMT, futures for Euro STOXX 50, for Germany's DAX and for France's CAC were down 0.1 percent to up 0.2 percent. European stocks rallied on Wednesday, with the FTSEurofirst 300 hitting a level not seen since late 2000, after the European Central Bank said it remained committed to its full asset-buying programme to revive the euro zone economy. ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0610 GMT: LAST PCT CHG NET CHG S&P 500 2,106.63 0.51 % 10.79 NIKKEI 19885.77 0.08 % 16.01 MSCI ASIA EX-JP 515.46 1.11 % 5.66 EUR/USD 1.0685 0.01 % 0.0001 USD/JPY 119.28 0.13 % 0.1500 10-YR US TSY YLD 1.905 -- 0.01 10-YR BUND YLD 0.109 -- 0.00 SPOT GOLD $1,202.65 0.11 % $1.35 US CRUDE $56.26 -0.23 % -0.13 > GLOBAL MARKETS-Asia stocks follow global surge, dollar defensive > US STOCKS-Wall St ends higher as jitters about earnings and oil recede > Nikkei down as drugmakers, food firms retreat hopes > TREASURIES-Bonds steady after weak data, ECB purchases boost demand > FOREX-Aussie jumps on jobs data surprise; dollar nurses losses > PRECIOUS-Gold extends gains on softer dollar, sluggish U.S. data > METALS-London copper prices firm as weak US data drags on dollar > Brent crude hits 2015 highs as U.S. production slows COMPANY NEWS: AUTO MAKERS Europe's auto-market recovery gained a firmer footing in March, according to industry data published on Thursday, as mid-market brands bounced back and no-frills "crisis car" sales slowed. UBS Activist investor Knight Vinke said UBS needs to "radically" shrink and should look at spinning off or merging its investment bank, reviving its two-year criticism of the Swiss bank. AIRBUS The aerospace group said on Wednesday it will ask shareholders to approve an exceptional share buyback of up to 10 percent of its capital at its annual meeting on May 27. VOLKSWAGEN The steering committee of VW's supervisory board will likely meet by Friday to try to resolve a leadership crisis at the carmaker, two sources familiar with the matter told Reuters on Wednesday. The Qatar Investment Authority (QIA) believes Chief Executive Martin Winterkorn may have to leave after the carmaker's chairman publicly withdrew his confidence in the CEO, Handelsblatt reported on Wednesday. ZALANDO The online fashion retailer posted higher Q1 sales and profit, citing a "strong start" into the spring and summer season. HOLCIM Swiss cement maker Holcim said on Thursday it expects the new shares of its tie-up with France's Lafarge to be listed on exchanges in Zurich and Paris in early August. Eurocement Holding AG, the second-largest shareholder in Swiss cement maker Holcim Ltd, said on Wednesday it is nominating its owner Filaret Galchev for a position on the board of a planned tie-up between Holcim and France's Lafarge SA. SODEXO The French catering, facilities management and vouchers group kept its full-year goals after operating profit rose 8.6 percent in the first half, helped by cost cuts and new contracts in North and Latin America, and Australia. RENAULT The carmaker will hold an emergency board meeting in response to French government moves to tighten its grip on the carmaker and its alliance with Nissan, a company source with knowledge of the matter said. LAFARGE Holcim's second-largest shareholder Eurocement said it is nominating its owner Filaret Galchev for a position on the board of a planned tie-up between the Swiss cement maker and France's Lafarge. The proposal of Galchev in an emailed statement may signal that Eurocement, which holds a 10.8 percent stake in Holcim, will support the merger with Lafarge at next month's shareholder vote. ALCATEL Finnish telecoms equipment group Nokia plans to add some 500 research jobs in France on top of those already working for its takeover target Alcatel-Lucent as part of an undertaking on jobs given to French President Francois Hollande, Alcatel's boss said on Wednesday. CASINO French retailer Casino said growth slowed in the first quarter, reflecting a still lacklustre performance in France, despite price cuts there, while an economic slowdown in Brazil hurt the sales of its consumer electronics business. (Reporting by Blaise Robinson)

  • Show Article Details

    Alibaba (BABA) is injecting its online pharmacy business into an obscure Hong Kong-listed subsidiary. Euphoric investors might want to read the label before ingesting. Last year, Alibaba (BABA) and Yunfeng Capital Ltd., a private-equity firm set up by Alibaba (BABA) founder Jack Ma, together bought a 54% stake in the little-known company, then called Citic 21 CN, which manages data on pharmaceutical products.

  • Show Article Details

    Saudi Arabia's state-owned agricultural investment firm and U.S. grain trader Bunge Ltd (BG) will buy a controlling stake in Canadian grain handler CWB in a bold move by the Gulf state to secure food supplies. G3 Global Grain Group, a joint venture of Bunge (BG) and Saudi Agricultural and Livestock Investment Co, said on Wednesday it will buy a 50.1 percent stake in CWB for C$250 million.

  • Show Article Details

    Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday it has no plans to sell sub-salt oilfields in a divestment program aimed at shoring up its finances. Petrobras, as the company is known, denied a report by newspaper Valor Economico that it could sell assets in that deep-water region, which holds some of the world's largest oil reserves but is expensive to operate.

  • Show Article Details

     . Firm58 has attracted a number of inquiries from private equity firms over the past two years. But with its current, strong set of financial backers, the CEO of the back-office high-frequency trading technology company said he's more interested in looking for a strategic buyer to get it to the next level. Must Read: 10 New Stocks Billionaire David Einhorn Loves.

  • Show Article Details

     . As On Track Innovations  launches a strategic review, company followers say the payment technology provider is testing the water at an opportune time given the headway it's made recently in a patent infringement lawsuit against T-Mobile USA , On Track Innovations (OTIV) announced Tuesday after the markets closed that it has retained Houlihan Lokey to review and prepare a detailed assessment of the ...

  • Show Article Details

    Italy's biggest utility Enel SpA is looking to sell its assets in Europe and Africa to raise as much as 1 billion euros as its growth slows amid weak demand in Italy and Spain, Bloomberg reported, citing people familiar with the matter.

  • Show Article Details

    Sweden's Ericsson, the world's biggest maker of mobile telecoms equipment, will probably have to expand its range of fixed line products to defend its turf following Nokia's (NOK) purchase of Alcatel-Lucent. As the Finnish and French firms combine, Ericsson will face a much stronger competitor with a broader product offering, bigger sales and R&D clout than itself.

  • Show Article Details

    Orange owns a little under 1% of Macerich (MAC). Activist investor Orange Capital LLC has joined the fight at Macerich Co. (MAC), hoping to pressure the U.S. mall owner to reconsider engaging with spurned suitor Simon Property Group Inc. (SPG), according to people familiar with the matter. Orange Capital, a New York-based hedge fund with about $1.3 billion under management, has teamed up with Land and Buildings Fund LLC, an activist fund led by Jonathan Litt that recently nominated directors to...

  • Show Article Details

    * Elliott doubles stake in DMG Mori Seiki AG to 10.1 pct. * Shares close up 2.7 percent. U.S. activist hedge fund Elliott has raised its stake in DMG Mori Seiki to 10.1 percent, the German machine-tool maker said in a statement on Wednesday. DMG Mori Seiki's smaller, Japanese partner, DMG Mori Seiki Co. Ltd, owns 50.8 percent of the German company following a tender offer that ended last month.