LONDON (AFX) - Here are the top stories on AFX News EU Commission hikes euro zone 2007 growth forecast to 2.4 pct vs 2.1
BRUSSELS (AFX) - The European Commission raised its euro zone growth forecast for 2007 to 2.4 pct from its previous estimate of 2.1 pct published in November.
This compares with record growth of 2.7 pct in 2006. Compass Bancshares being acquired in $9.6B deal
BIRMINGHAM, Ala. (AP) - Compass Bancshares Inc., which operates banks from Arizona to Florida, said Friday that it is being purchased by Spain-based Banco Bilbao Vizcaya Argentaria S.A. in a cash and stock deal valued at about $9.6 billion.
The transaction consists of roughly $4.6 billion in cash and about 196 million shares of Banco Bilbao common stock. Honeywell approves 3 bln usd share repurchase program
LONDON (AFX) - Honeywell International Inc announced that its board has authorized the company to repurchase up to an additional 3 bln usd of its common stock.
Honeywell said it intends to repurchase outstanding shares in the open market using cash flow generated by its operations. Nike approves 2-for-1 stock split
BEAVERTON, Ore. (AP) - Nike Inc. said Thursday its board approved a two-for-one stock split of its class A and class B common shares.
The split will be in the form of a dividend payable on April 2 to shareholders of record on March 12. INTERVIEW Teva assessing option to submit bid for Merck KgaA's generic ops
FRANKFURT (AFX) - Generic drug giant Teva Pharmaceutical Industries Ltd plans to achieve a 15-20 pct share of the generic drug market in Germany by 2012 through organic growth and acquisitions -- including possible plans to submit a bid for Merck KgaA's generic operations.
The world's biggest generic drug maker is mulling, among other options, plans to acquire Merck's generic drug unit, Martin Vortkamp -- head of Teva's portfolio management and business development in Germany -- told AFX News. Barry O'Callaghan considering bid for Reed Elsevier education arm - source
LONDON (AFX) - Barry O'Callaghan, the head of Irish educational software publisher Riverdeep, is considering a bid for Reed Elsevier PLC's educational publishing business, a source familiar with the matter said today.
The interest comes a day after the Anglo-Dutch publisher surprised the market by saying it wanted to sell its underperforming education division, Harcourt Education, to focus on its faster-growing science, legal and business publishing businesses. Cinven abandons plan to bid for Sainsbury's - report
LONDON (AFX) - Cinven has abandoned plans for a rival consortium to bid for J Sainsbury PLC after its partner Texas Pacific Group joined the CVC-led team that is planning a takeover proposal, The Times reported.
Citing sources, it said that with Sainsbury's share price above 500 pence, Cinven has decided not to proceed. BNP Paribas CEO sees 25 pct growth in emerging markets; 190 new branches
PARIS (AFX) - BNP Paribas aims to grow 2007 revenues by 25 pct in emerging countries in Europe, the Middle East and the Mediterranean Basin, and will focus primarily on organic growth with 190 branch openings planned in the region over the year, chief executive Baudouin Prot told French daily Le Figaro today.
After expanding significantly in 2006, notably with the acquisition of BNL in Italy, Prot said the group will now concentrate on organic growth which will mean 'turning all our growth drivers to maximum potential.' L'Oreal CEO interested in luxury acquisitions, would consider Hermes bid
PARIS (AFX) - L'Oreal SA chief executive Jean-Paul Agon said he is interested in acquiring luxury brands as part of the company's development plans, mainly in the cosmetics sector.
But he said he would also consider bidding for a company like Hermes International, if the French luxury house were to be put up for sale. Aker Yards Q4 beats forecasts, ups dividend on increased activity
OSLO (AFX) - Aker Yards ASA posted fourth quarter figures ahead of expectations across the board, and announced it is to hike its full-year dividend to 18 nkr a share from 15.5 last year, as the Norwegian shipbuilder benefits from increased activity in the marketplace and from recent acquisitions.
For the fourth quarter, Aker Yards posted operating profits of 452 mln nkr, up from 209 mln a year earlier, and well ahead of the 300 mln consensus forecast of analysts polled by TDN Finans. Seiyu aims to return to profit for first time in 6 years in 2007
TOKYO (XFN-ASIA) - Japan's supermarket operator Seiyu Ltd said it hopes to be able to return to profit in 2007 -- for the first time in six years -- by refurbishing its existing store operations further and adding four new outlets locally.
It also plans to leverage on the global supply network of Wal-Mart Stores Inc which Seiyu believes will help enhance the value and quality of its merchandise. Wal-Mart last year raised its stake in Seiyu to 54 pct from 42.48 pct previously. COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited