LONDON (AFX) - Here are the top stories on AFX News EU SUMMIT Leaders reach deal on fighting climate change
BRUSSELS (AFX) - EU leaders agreed to adopt binding targets on future use of renewable energy, overcoming the main obstacle to an ambitious plan to fight global warming.
The overall accord became possible once leaders agreed to a binding target of a 20 pct share of renewable energies in overall EU energy consumption by 2020, which had been the main stumbling block. EADS reports $1.01 billion loss in 4Q
MUNICH, Germany (AP) - Airbus parent EADS NV said Friday that a weaker dollar and major delays at its Airbus unit dragged its 2006 profit down, caused a multimillion dollar quarterly loss and warned that Airbus would 'display another substantial loss in 2007.'
The Amsterdam-based company lost 768 million euros ($1.01 billion) in the fourth quarter compared with a profit of 405 million euros a year earlier. Sales, however, were up 11 percent to 11.96 billion euros ($15.73 billion) compared with 10.76 billion euros in 2005. Telecom Italia sees sales up 1-2 pct/year in 2007-09, vs 3-4 pct seen before
MILAN (AFX) - Telecom Italia SpA said it expects its group sales to rise 1.0-2.0 pct per year in the period 2007-2009 compared to the 3.0-4.0 pct per year growth target provided last year in the group's previous 2006-2008 plan.
In its new 2007-2009 business plan, Telecom Italia said it expects EBITDA margins to decline by 2.5 and 2.0 percentage points in 2007 and remain broadly unchanged in the following years. DaimlerChrysler has no plans to spin off commercial vehicles - Renschler
FRANKFURT (AFX) - DaimlerChrysler AG has no plans to spin off its commercial vehicles division, reported Sueddeutsche Zeitung in an interview with the unit's chief Andreas Renschler.
'That is not on our agenda. Why would we separate from such a highly profitable business?' said Renschler. AGF board backs Allianz buyout offer
PARIS (AFX) - Assurances Generales de France said its management board has decided unanimously to back the buyout offer made by the group's largest shareholder, Allianz SE.
It said after consultations with external consultants the board decided that the financial terms were 'fair' and that the strategic basis for the merger was 'in the interest of the company, its shareholders and its employees.' Telefonica asks Merrill Lynch provide finance for eventual Endemol buyer
AMSTERDAM (AFX) - Telefonica SA said it has asked Merril Lynch to offer stapled financing to the eventual buyer of Endemol NV as the Spanish group is exploring strategic options for the sale of all or part of its 75 pct stake in the Dutch television company.
If Telefonica were to decide to divest its 75 pct stake in Endemol, it said it would solicit from the potential purchaser a public offer for the other 25 pct of the shares outstanding in Endemol. Philips to sell remaining 16.2 pct stake in TSMC
AMSTERDAM (AFX) - Royal Philips Electronics NV said it agreed a multi-phased plan with Taiwan Semiconductor Manufacturing Co Ltd (TSMC) to sell its remaining 16.2 pct interest in TSMC, which currently has a market valuation of some 8.5 bln usd.
In the near future, Philips plans to sell up to 1.75 bln usd worth of TSMC shares to accommodate identified demand from long-term financial investors in Taiwan. Mecom says plans to raise 557 mln stg net via issue of 731 mln shares at 78p/shr
LONDON (AFX) - Pan-European newspaper publisher Mecom Group PLC said it plans to raise 557 mln stg after expenses by placing 731.07 mln new shares at 78 pence each to fund two acquisitions, pay outstanding loan notes, and to fund investments.
The company said it will buy a 75 pct stake of Berliner Verlag Deutsche Zeitungsholding GmbH and its units from Veronis Suhler Stevenson and its affiliates for about 163 mln eur. Pernod Ricard, Bacardi, Diageo eye Absolut vodka
STOCKHOLM, Sweden - Three of the world's top spirits makers -- Pernod Ricard SA, Bacardi Ltd and Diageo PLC -- have told the Swedish government they are interested in buying the state-owned liquor group that makes Absolut vodka, a spokeswoman said Thursday.
The center-right government presented plans last week to sell the V&S Vin & Sprit AB liquor group as part of wider privatization plans. V&S owns several brands of liquor and wine, with Absolut its biggest moneymaker. Akzo Nobel expects Organon IPO on March 27
AMSTERDAM (AFX) - Akzo Nobel NV expects the IPO for Organon BioSciences to go ahead on March 27, with book-building expected to start on Monday, Organon CEO Toon Wilderbeek said.
Wilderbeek did not give an indication about the share price or how much Organon hopes to raise through the IPO, but said Akzo Nobel plans to make the price public on Monday, when it issues the prospectus. Fortis Real Estate in talks to buy 33.6 pct of Agridec at around 204 eur/share
BRUSSELS (AFX) - Fortis Real Estate said has launched negotiations with Societe Financiere de l'Etoile and Societe de l'Etoile to acquire a stake in real estate group Agridec at around 204 eur per share.
SFE and SE currently hold stakes in Agridec of 23.6 pct and 10 pct respectively. 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