LONDON (AFX) - Here are the top stories on AFX News US February consumer spending up 0.6 pct, personal income up 0.6 pct
WASHINGTON (AFX) - Consumer spending and personal income both rose twice as fast as expected in the latest month, while a key measure of inflation rose at its fastest pace in half a year, the Commerce Department said today.
Incomes rose 0.6 pct in February after rising 1.0 pct in the previous month, while spending rose 0.6 pct following a 0.5 pct rise in January. Novartis cuts sales growth target, mulls profit impact on drug suspension
BASEL (AFX) - Novartis AG has revised its target for 2007 net sales growth for the group to 'above 5 pct' from its previous guidance for a mid- to high-one-digit percentage growth, after suspending marketing and sales of irritable bowel syndrome drug Zelnorm due to safety concerns in the US.
Novartis said it is still evaluating the impact of the withdrawal on the full-year 2007 operating and net income from continuing operations. Alliance Boots gets revised 10.40 stg offer from Pessina/KKR
LONDON (AFX) - Alliance Boots PLC, the international health and beauty group, has agreed to open its books to Stefano Pessina, its executive deputy chairman and 15 pct shareholder, and private equity group Kohlberg Kravis Roberts (KKR), after the consortium put forward a revised takeover proposal of 10.40 stg a share in cash.
'The board has agreed to grant KKR and Stefano Pessina a limited period to undertake confirmatory due diligence,' the group said. 'A further announcement will be made as and when appropriate.' Man Group says to spin off brokerage unit, sees FY results in line
LONDON (AFX) - Listed hedge fund manager Man Group PLC announced plans to demerge its brokerage unit, Man Financial, and list it on the New York Stock Exchange, and said its full-year financial performance will be in line with analyst forecasts.
In a statement, Man said it is planning to hold Man Financial's initial public offering in the third quarter of 2007, provided market conditions remain favourable. The business will be renamed MF Global, and will be led by the unit's current managing director, Kevin Davis. NYSE merger offer for Euronext to be reopened from April 2-17
PARIS (AFX) - NYSE Group Inc's merger offer for Euronext NV is to be reopened from April 2 to 17 with the same terms, the French financial markets regulator AMF announced today.
The final results of the initial 10 bln usd merger offer were confirmed today with NYSE holding 91.42 pct of capital and 92.22 pct of voting rights in Euronext. UK CAA refers price controls for BAA's Heathrow, Gatwick airports to CC
LONDON (AFX) - The UK Civil Aviation Authority said it referred price controls for Grupo Ferrovial-owned BAA Ltd's Heathrow and Gatwick airports as well as BAA's supply of airport services to the Competition Commission.
This is a key stage in the CAA's periodic review of price controls for these airports, which started in December 2005 and culminates in new price controls set in March 2008 for the five-year period from April 1 2008. TPG Capital studies Iberia bid at 3.60 eur/shr
MADRID (AFX) - Iberia Lineas Aereas de Espana SA said it has received a request for information from US capital risk group Texas Pacific Group ahead of a possible full takeover bid for 3.60 eur per share.
In a statement, Iberia said that TPG Capital LLP has said it will analyse the information over the next 20-30 working days, and possibly launch a bid within 10 working days after that. Imperial Tobacco to begin talks with Altadis within days - report
MADRID (AFX) - Imperial Tobacco Group PLC is to begin talks with Altadis SA over a new takeover bid within days, El Pais reported, citing unnamed sources.
Imperial is reportedly looking to sweeten its original 45.0 eur per share bid for the Franco Spanish tobacco group to at least 50 eur per share. Nissan to recall 1 mln vehicles mostly in Japan; recall to cost 3 bln yen
TOKYO (XFN-ASIA) - Nissan Motor Co said it will recall more than 1 mln vehicles mostly in Japan after reports of cracks in the fuel tank, but the automaker assured there was no safety risk.
The recall of 1,015,306 vehicles, which were made between 1991 and 2000, will cost about 3 bln yen, said Nissan spokeswoman Pauline Kee. Australia's Macquarie says failed bid for Alinta pitched at 15.45 aud a shr
SYDNEY (XFN-ASIA) - Macquarie Bank Ltd said it had offered 15.45 aud a share for energy infrastructure company Alinta Ltd in its unsuccessful bid for the Western Australian firm.
Alinta said earlier it will recommend a 7.5 bln aud takeover involving investment and advisory firm firm Babcock & Brown and state-owned Singaporean utility Singapore Power. Vodafone unveils mobile deal with Asda
LONDON (AFX) - Mobile phone giant Vodafone Group PLC has struck a deal with Asda, which will see the supermarket chain sell branded mobile phone services to shoppers.
The deal will be similar to the agreement between Tesco and Telefonica's O2, under which the UK's biggest grocer rents airtime on the O2 network. Over 1 mln Tesco customers have signed up to the service since its launch in 2003. 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