News

  Bloomberg Daetwyler Holding AG, a Swiss provider of engineering and industrial parts, agreed to buy Premier Farnell Plc of the U.K. for £615 mn ($871 million) in a deal aimed at consolidating the fragmented European market for electronic-component distribution. Investors will get 165 pence in cash for each Premier Farnell share, the company said in a statement on Tuesday. ...

  Bloomberg France is set to continue the quick pace of wheat exports into next season, with low freight rates and large stockpiles helping increase overseas sales, according to the nation’s largest grain cooperatives. Shipments will probably start earlier than last year and exports to unusual destinations including countries in Asia will continue, Philippe de Raynal, chief executive officer of ...

  Bloomberg Swedish inflation slowed more than estimated in May, adding pressure on the central bank to expand its unprecedented stimulus measures at its meeting next month. Consumer prices rose an annual 0.6 percent in May, compared with 0.8 percent the prior month, Statistics Sweden said in a statement on Tuesday. The Riksbank and analysts surveyed by Bloomberg estimated inflation ...

  Bloomberg GAM Holding AG said first-half profit will probably fall by half after performance fees at the Swiss asset manager dried up. Underlying profit before and after tax is expected to decline by about 50 percent from a year earlier, the Zurich-based company said in a statement on Tuesday. Performance commissions will probably tumble to 1 million Swiss francs ...

  Bloomberg The global oil market will be almost balanced next year as demand continues to rise faster than production, while the current oversupply is much smaller than previously thought, the International Energy Agency said. The surplus in the first half of this year is about 40 percent smaller than estimated a month ago, as consumption proves stronger than expected ...

  Bloomberg Twitter Inc. jumped after Microsoft Corp.’s $26.2 billion agreement to buy LinkedIn Corp. prompted speculation other technology companies may become acquisition targets. Twitter ended the day up 3.8 percent to $14.55 in New York after rising as much as 9.1 percent earlier. The social network’s stock had dropped 39 percent this year through Friday as investors questioned whether ...

  Bloomberg Brazil’s new central bank president IlanGoldfajn pledged to hit the center of the inflation target, while nominating members to his board that include a banker from the private sector. “The objective is to fully meet the inflation target established by the National Monetary Council, looking at its center,” said Goldfajn, 50, during a ceremony to mark his taking ...

  Bloomberg Eagle Ford shale producers are getting a new outlet to ship their abundant natural gas to Mexico as the southern neighbor seeks supplies to increase power generation. A unit of Spectra Energy Corp. and a joint venture between Sempra Energy’s Ienova and TransCanada Corp. won contracts to link the Agua Dulce Hub on the Texas Gulf Coast to ...

  Bloomberg League Inc., a Canadian health-insurance startup, is raising $25 million in a funding round backed by Omers Ventures, Royal Bank of Canada and Manulife Financial Corp. Toronto-based League lets employees find and pay for services such as therapy, dental work and chiropractor visits through a mobile application. League isn’t an insurer but connects insurance pools, employees and a ...

  ABU DHABI / WAM The UAE’s Ministerial Development Council, presided by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, discussed the preparation of a global regulatory framework for Islamic finance as part of the UAE government vision to make the country a global centre for Islamic economy. The proposal includes setting comprehensive ...