News Column


August 14, 2014

Brazil crash kills President candidate The Brazilian presidential candidate Eduardo Campos has been killed in an air crash, robbing the country of one of its rising political stars and changing the outlook for the most hotly contested national elections for more than a decade. A private jet carrying Campos, of the centre-left PSB party, crashed in bad weather in the coastal city of Santos on Wednesday, killing all seven people on board, according to Sao Paulo's fire department. While polls had shown that Campos was the third-strongest presidential candidate before October's vote, analysts had expected the business-friendly leftist to gain more votes as his campaign got under way.

Ackman plans to raise $4bnBill Ackman is planning to raise around $4bn by listing a new investment vehicle in London, in the latest example of a hedge fund manager looking for capital that cannot flee in a crisis. The US activist, whose targets include Allergan and Air products, hopes to follow in the footsteps of other hedge fund titans, including Daniel Loeb and Alan Howard.

InterMune appoints advisers on bids InterMune, a US biotechnology company, has appointed financial advisers to prepare for possible takeover bids as it becomes the latest orphan drugmaker to draw interest from larger sector rivals. The company has hired Goldman Sachs and Centerview Partners.

SAS joins mission to save refugees British special forces were in northern Iraq last night as London and Washington prepared to launch a high-risk operation to save up to 30,000 refugees trapped by jihadists. SAS officers are helping the US to plan for a mission in which American and Kurdish troops could be deployed.

Macy's feels cold from US retail chill The American department store yesterday lowered its sales forecast for the year, having missed Wall Street's expectations as the government published the worst US retail sales figures in six months, suggesting the economic recovery may be losing momentum.

Barclays could see 1.2bn legal costs Barclays could face as much as 1.2bn more in legal costs and fines as it battles to settle an investigation into the bank's so-called "dark pool" trading platform and other regulatory issues, according to a Sanford C. Bernstein analyst.

Land Rover to recall 40,000 cars More than 40,000 Land Rovers have been recalled in the US after manufacturers discovered a potential fault with the four-by-fours' ' front passenger airbag. Jaguar Land Rover is believed to have found a technical failure in models dating back to 2010 that could stop airbags deploying.

Lower growth for Mexico The Bank of Mexico lowered its 2014 growth economic estimates for the country yesterday, saying that the domestic market remained lackluster in the second quarter. The central bank, expects GDP to expand between two and 2.8 per cent this year, down from its previous estimate.

T-Mobile finance chief snubs bid T-Mobile US' chief financial officer called a $15bn (8.99bn) takeover proposal from French wireless company Iliad "inadequate" Wednesday, but hinted it may be open to a higher offer. Braxton Carter added that Iliad''s late-July offer to buy 57 per cent of the company was "very flattering".

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Source: City A.M. (UK)

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