Investors in Britain's biggest home lender HBOS subscribed for just 8.3% of shares in its 4 bln pound ($8 bln) rights issue, leaving underwriters to try to sell almost 3.8 bln pounds of stock. HBOS, the latest UK bank to raise capital to repair its balance sheet and brace for a tough UK economic outlook,
More
Swiss drugmaker Roche Holding AG offered to acquire all outstanding shares in its U.S. partner Genentech Inc for $43.7 bln in cash to reinforce its position in cancer medicines. Roche, which already owns 55.9% of Genentech, said on Monday it would offer $89 per share to buy up the remaining stake, a 9% premium to
More
The German company sued by Facebook for running a "knockoff" of the social networking Web site said on Sunday it asked a German court to declare that Facebook's claims are without merit. Facebook's complaint, filed on Friday in a California federal court, accuses studiVZ of copying the look, feel, features and services of Facebook and
More
Zenon Consortium has been selected by the Ministry of Communications and Works to undertake the development of the port and marina in Larnaca under the “Design-Build-Finance-Operate” (DBFO) method, according to the Government’s Press and Information Office. The consortium is led by Louis Pcl (22%) and includes Iacovou Brothers (17.5%), Petrolina (Holdings) Plc (17.5%), the French
More
Telefonica O2 Germany, one of the fastest growing mobile phone operators in the country, is moving to expand network coverage and capacity to provide its customers with improved mobile voice and online services. Nokia Siemens Networks will carry out this modernization project enabling the operator to reduce network power consumption. In a separate deal, O2
More
Greek Foreign Minister Dora Bakoyianni has called on the Turkish leadership not to encourage intransigency with its actions and to promote modesty so that a new, well prepared and substantive negotiating effort on the Cyprus problem can begin. In a statement on the occasion of the 34th anniversary of the Turkish invasion of Cyprus, Bakoyianni
More
Asian stocks rose by more than 3 percent on Monday, the most in four months, helped by results from Citigroup that reassured about the financial sector's stability, though the U.S. dollar slid ahead of more results from banks this week. Oil prices edged up but are still more than $17 below this month's record high
More
By Adrian Croft JERUSALEM, July 21 (Reuters) – In the first speech to the Israeli Knesset by a British prime minister, Gordon Brown on Monday will warn Iran it faces growing isolation if it rejects an offer from major powers on its disputed nuclear programme. Brown will pledge to stand by Israel and condemn threats
More
By Emma Pinedo MADRID, July 20 (Reuters) – Five small bombs exploded in northern Spain on Sunday, including four at popular seaside resorts in Cantabria which were claimed by the Basque separatist group ETA and sent thousands of people fleeing for cover. One woman was hurt by a flying stone and another treated for shock
More
Store groups have to adapt or die as online retail sales soar, and time is running out. Bricks-and-mortar retailers need to emphasise their advantages over cheaper Internet-based rivals, such as faster delivery and better customer service, and turn their shops into more attractive places to visit, analysts say. They also need to expand their own
More