LONDON (AFX) - Here are the top stories on AFX News UK Q4 GDP quarterly GDP growth at 0.8 pct, fastest growth since Q2 2004
LONDON (AFX) - Household spending helped the UK economy grow by its fastest rate in two and a half years during the final quarter of 2006, the office of National Statistics confirmed today.
In its second estimate for the fourth quarter, the statistics office said the UK economy grew by 0.8 pct from the previous quarter, its best quarterly performance since the second quarter of 2004. The growth rate was left unrevised from the preliminary reading released last month. Lloyds TSB FY profit up 8 pct
LONDON (AFX) - Lloyds TSB Group PLC met market expectations with an 8 pct increase in full-year profit, helped by tight cost controls, but shares in the bank fell as investors fretted over its future growth prospects.
Lloyds said underlying pretax profit for the year to Dec 31 2006 came in at 3.713 bln stg, an 8 pct increase compared with the previous year, and in line with a company-collected consensus analyst forecast of 3.7 bln stg. Lafarge CEO says not interested in takeover bid for Hanson
PARIS (AFX) - Bruno Lafarge, chief executive of Lafarge, said he is 'not interested' in making a takeover bid for UK rival Hanson, denying rumours that have been circulating on financial markets in recent weeks.
Speaking at a conference after the group's release of 2006 results this morning, Lafarge said the company's expansion efforts would be focused mainly on reinforcing its businesses in markets where it is already present. WPP 2006 results beat expectations
LONDON (AFX) - WPP Group PLC encouraged investors after the UK advertising and marketing group, posted stronger than expected full-year profits and revenue and reported some improvement in the UK's beleaguered ad market.
The world's second-largest advertising and marketing group, home to Young & Rubicam and J Walter Thompson agencies, said revenue for the year to December 31 climbed 10 pct to 5.90 bln stg, ahead of the 5.87 bln consensus forecast, while like-for-like revenue growth was 5.4 pct, towards the upper end of market expectations. Standard Chartered arm to buy 5 pct in Bombay bourse for 2 bln rupees - report
MUMBAI (AFX) - SCPE, the private equity arm of Standard Chartered, is in advanced talks with the Bombay Stock Exchange (BSE) to buy a 5 pct stake in the bourse for about 2 bln rupees, reported the Economic Times, citing unnamed sources.
This would give BSE a market capitalisation of 40 bln rupees. Tate & Lyle's European starch unit attracts French bidders - report
LONDON (AFX) - Two French companies have mounted a joint bid for Tate & Lyle PLC's European starch unit, which analysts believe could fetch up to 600 mln stg, according to The Times.
The newspaper did not name its source, but said Roquette Freres, a starch specialist, has joined forces with Tereos, one of the world's top sugar companies. Home Retail says Argos to enter India; buys stake in Irish retailer
LONDON (AFX) - Home Retail Group PLC said its Argos business is to enter India through a franchise deal with a joint venture company owned by Indian retailers Shopper's Stop Ltd and Hypercity Retail India Private Ltd.
HRG will franchise the Argos concept to the joint venture company, providing its brand, catalogue, multi-channel expertise and IT support. BG says fully cooperating with Italian authorities on bribe probe
LONDON (AFX) - BG Group PLC said it is fully cooperating with the Italian authorities on the ongoing corruption investigation that involves key former and current officials in charge of the company's 500 mln eur Brindisi gas project.
'The investigation is still going on and no official charges have been brought (against anyone),' a BG spokesman said. Integra Group sets London IPO offer price at 16.75 usd per GDR
LONDON (AFX) - Russian onshore oilfield services provider Integra Group said the offer price for its offering of global depositary receipts (GDRs) on the London Stock Exchange has been set at 16.75 usd per GDR.
The offer price, which falls at the top end of the offer price range of 13.75-16.75 usd, implies a market capitalisation of some 2.4 bln usd before the over-allotment option. Bradford & Bingley buys GMAC-RFC mortgage book for 529 mln stg
LONDON (AFX) - UK mortgage bank Bradford & Bingley PLC said it has bought a portfolio of mortgage loans from GMAC-RFC for 529 mln stg in cash.
The deal, funded from B&B's own resources, increases the bank's total assets by 1.1 pct. B&B had total assets of 45.4 bln stg as of Dec 31 last year. Warner Music rating on CreditWatch Negative as EMI merger talks confirmed - S&P
NEW YORK (AFX) - Standard & Poor's Ratings Services said it has placed Warner Music Group Corp's ratings, including its 'BB-' corporate credit rating, on CreditWatch with negative implications following the company's statement that it is exploring a possible merger with EMI Group PLC.
'The two companies have not announced a deal or the possible structure of financing, other than indicating that consideration for any deal would be entirely in cash,' said S&P credit analyst Michael Altberg. 'This has prompted our consideration of a potential downgrade.' COPYRIGHT Copyright AFX News Limited 2007. 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