Market Chatter-Corporate finance press digest

Wed Dec 19, 2012 9:52am IST

Stocks

   

Dec 19 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Pfizer Inc plans to cut about 20 percent of its sales force for primary-care drugs, Bloomberg News reported, as the pharmaceutical company copes with the loss of a patent for top-selling cholesterol drug Lipitor.

* United Parcel Service Inc has offered more concessions in a bid to win EU regulatory approval for its 5.2 billion euro ($6.87 billion) bid for TNT Express, two people familiar with the matter said.

* Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc , as it makes progress in securing financing, a source familiar with the matter said.

* Getco Holding Company LLC will buy Knight Capital Group Inc for about $2 billion after sweetening its offer for the equities market-making firm to beat out rival Virtu Financial LLC, people close to the deal said.

* French state bank Caisse des Depots has teamed up with Abu Dhabi investment fund ADIA to form a powerful consortium to bid for Total SA's TIGF gas network business, sources said.

* BIDV, Vietnam's largest partly private lender by assets, has delayed its domestic share listing because of difficulties in financial markets and a stock market slump, the Vietnam Economic Times newspaper reported.

* India Infrastructure Finance Co Ltd said it will launch a $1 billion infrastructure debt fund, for which final approval from market regulator SEBI is expected soon, the Indian Express reported citing the Press Trust of India.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

OBAMA'S VISIT

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage