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Tuesday Papers: BayernLB and WestLB in merger talks - tips, comment and bids
And BHP Billiton extends bid for Potash Corporation to secure regulatory approvals from Canada’s competition watchdog.
Markets
Financial Times
* Two of Germany’s biggest public sector banks, BayernLB and WestLB, said on Monday that they would assess this year whether to join forces to create Germany’s third-biggest bank by assets.
* BHP Billiton has extended its $39bn hostile bid for Potash Corporation to November 18 to give the Australian miner time to secure regulatory approvals from Canada’s competition watchdog.
* Gulf states have ordered US weapons worth some $123bn as they seek to counter Iran’s military power.
* Brevan Howard, hedge fund manager, is to open a new office in Brazil that will be run by Mario Mesquita, the former deputy governor of the Brazilian central bank.
* The credit unit of Blackstone, which had been mooted as a possible leader of a £280m refinancing of Liverpool Football Club, has pulled out of talks.
Comments
The Lex column
* Markets and the Fed - investors returning from the beach hit their ‘risk-on’ buttons after their summer break.
* Sweden - a minority government is fortunate it has some fiscal breathing room.
* Ireland - investors worry the taxpayers’ bill for the banks is unaffordable.
* Lloyds Banking Group - shareholders count the cost of Daniels’ tenure.
Tools from Citywire Money
Today's articles
- Week Ahead: waiting uncomfortably for Greece to go
- Investment trusts beat unit trusts in emerging markets
- Market Blog: confident US consumers lift the mood
- Smart Investor: let the news flow wash over you
- What are investment funds and how do they work?
- Your finances after... marriage
- Lyttleton takes summer break from BlackRock funds
- Threadneedle bond boss Fitzsimmons exits
2 comments so far. Why not have your say?
GD-C
Sep 21, 2010 at 07:43
Taken a face value,the story that Gulf States are buying $123bn of arms from the U.S. in order to stop attacks on Iran is puzzling.The only reason why any country would attack Iran is because of its ongoing development of a nuclear weapon, which both the United States of America and Israel have insisted they would not allow to happen. Given that to be the case, however well equipped the Gulf States might become, they will never be capable of preventing an attack on Iran's nuclear enrichment sites by those two opponents of a nuclear armed Iran.
report thisVictor Meldrew
Sep 21, 2010 at 20:26
' to counter Iran’s military power' sounds like the right reason to give, to help the deal go smoothly.
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