| The Attempted Theft of Two Nickel Producers: LionOre, Rio Narcea
Toby Hansen submits: Last summer the base metal market was a buzz with the bidding wars for nickel producers Falconbridge and Inco. The whole affair was intriguing with multiple bids and cross bids of takeover targets. Nickel at the time was on the move and had doubled from $6/pound in January. The victors in these battles were Xstrata, taking over Falconbridge for $18 Billion, and CVRD, claiming Inco at $17.6 Billion. Falconbridge was purchased for a handsome 15X cash flow multiple and Inco shareholders were rewarded with a 9X cash flow multiple. In the past couple of weeks, new bids were made for two profitable nickel producers, LionOre and Rio Narcea (RNO). The price of nickel last week hit a life-time high of over $23/pound. Considering the nickel price was almost half of today's price when the Falconbridge and Inco take-overs were raging, one would think that LionOre and Rio Narcea shareholders would see comparable or higher bids relative to cash flow: think again.
Strong recruitment market looks set to continue
With business booming in Irelands international financial services sector, companies operating in the sector are actively hiring in order to keep up with this level of growth. Fiona Reddan looks at which companies are hiring and what they are looking for in staff. .
WestLB Asks Prosecutors to Investigate Stock Traders (Update1)
April 10 (Bloomberg) -- WestLB AG, Germany's third-biggest state-owned bank, asked local prosecutors to investigate two former traders as well as unidentified outsiders for possible trading violations. The two employees, Markus Bolder and Friedhelm Breuers, were fired by the Dusseldorf, Germany-based bank last week, spokesman Marc-Sven Kopka said in a telephone interview today. WestLB contacted prosecutors in its home city after an internal probe showed that ``third parties'' may have been involved in violations related to the trading of stock it owns. WestLB lost at least 100 million euros ($134 million) in ``a few days'' after Bolder and Breuers made ``failed'' trading bets on shares of Volkswagen AG, Europe's largest carmaker, Financial Times Deutschland reported last week, citing unidentified bankers.
Yesterday's $14M Closing Passes 125000 SF
IRVING, TX-A first-time buyer in North Texas has tucked away the win for a 125,000-sf class A-minus office building at the gateway to Dallas/Fort Worth International Airport. The deed changed hands yesterday for $14.1 million or $115 per sf. "The key thing about this deal is the price per sf. It would cost well over $250 per sf to replace today," Ted Gibbons, president of Investment Realty Advisors Inc. in Bellevue, WA, tells GlobeSt.com about the acquisition of 8505 Freeport Pkwy. The six-story building is 95% leased, with 80% of the office space as the North America headquarters for Hanson Aggregates Inc., with nine years left on its Las Colinas submarket lease. Gibbons says the buyer is a private investor from South Florida. The seller is a limited partnership with Naples, FL and Minneapolis ties, which had the NAI Welsh team of Bob Pounds, Tim Prinsen and Betsy Budge in the Twin Cities region marketing the 8.3-acre property.
Islamic finance set to take Asia by storm
KUALA LUMPUR. April 10. KAZINFORM - Asia is finally awakening to the potentially huge opportunities that the global Islamic finance sector is offering, with Japan and China emerging as the two potentially most important markets. Bank Negara Malaysia and local Islamic banking sources confirmed that Japan Bank for International Cooperation (JBIC) is in the process of launching a substantial Sukuk (Islamic trust certificates) series out of Kuala Lumpur and denominated in Malaysian ringgit. Tadashi Maeda, director general of JBIC, confirmed to Arab News in Malaysia in March that JBIC is embarking on a proactive Sukuk issuance strategy, which includes both issuance by the bank and through credit enhancement by JBIC through its guarantee, where Japanese private companies and their affiliates overseas issue Sukuk.
Business Analyst / UML Investment Banking Job, London UK
If you are a strong Business Analyst & would like to enter the world of investment banking we have a position for you in our customer master service group. As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking & asset management services worldwide. Credit Suisse is active in over 50 countries & employs approximately 40,000 people. Further information can be found at our Website. The Customer Master Service is CS's strategic account & counterparty opening & maintenance tool. This is a Lead Analyst role & your big challenge will be to act as the primary Business Analyst in the roll-out to the Asia Pacific region. This project will represent the biggest increase in the scope of CMS for 3 years - significant analysis will be required & the whole project & will probably be implemented over a 2 year period.
Look beyond latest hot spot to maximize your returns
Citigroup market watcher Tobias Levkovich rolled out an amazing statistic the other day: 93 per cent of all the money put into equity mutual funds by Americans last year went into funds investing in foreign markets. Levkovich, Citigroup's chief U.S. equity strategist, explained this stampede away from the U.S. market by pointing to the seductive power of the China and India growth stories. One of the most important, but seemingly hardest, lessons to learn in investing is not to chase the latest hot growth story. .
|
