ThyssenKrupp wants fast sale of N. America unit
German steel and industrial group ThyssenKrupp (TKAG.DE: Quote, Profile, Research) has reaffirmed it expects to soon conclude the sale of its loss-making North American automotive body and chassis business.
In remarks over the weekend which were embargoed for Monday, management board member Olaf Berlien also said he believed the company could quickly participate in any consolidation of the European naval shipyard industry.
He also said the company could sell the magnetic levitation technology used by the Transrapid monorail, should German authorities fail within the next 18 months to approve a domestic rail route, most recently proposed for Munich.
More : today.reuters.com
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TNT Logistics North America to get new parent company
TNT has retained Goldman Sachs to handle the sale of TNT Logistics, reported to generate $4.3 billion in revenue annually. The company expects to complete the sale by the second half of 2006.
TNT Logistics employs 37,000 people worldwide, including 6,100 who work for Jacksonville-based TNT Logistics North America. About 300 of those work here.
TNT CEO Peter Bakker said the logistics business is strong but no longer fits with the company's "strategic focus going forward." TNT's postal and parcel express businesses involve vast networks to deliver items for a mass consumer
Latin America fast-becoming top investment destination for Singapore firms: IE Singapore
Latin America, especially Mexico and Brazil, is fast-becoming a top investment destination for Singapore firms.
According to a survey by IE Singapore, 86 percent of Singapore-based businesses there reported profits last year.
The survey also showed that the wholesale sector drew the most investments from Singaporeans, followed by transport and manufacturing.
More : channelnewsasia.com
Mid-America Reports Strong First Quarter Results
Mid-America Apartment Communities, Inc. MAA (the Company) reported net income available for common shareholders for the quarter ended March 31, 2006, of $1,636,000, or $0.07 per common share, as compared to $613,000, or $0.03 per common share for the quarter ended March 31, 2005. Funds from operations (FFO), the widely accepted measure of performance for real estate investment trusts, was $20,781,000, or $0.84 per share/unit for the quarter ended March 31, 2006, compared to $18,741,000 or $0.79 per share/unit for the same quarter in the prior year.
This quarters FFO per share/unit of $0.84 is
Scotiabank Third-Quarter Profit Rises on Latin America Unit
Bank of Nova Scotia, Canadas third- largest bank by assets, said profit climbed for the 13th straight quarter on higher earnings from its international unit.
Net income for the third-quarter ended July 31 rose 19 percent to C$936 million ($842 million), or 93 cents a share, from C$784 million, or 77 cents, a year earlier, the Toronto- based bank said today in a statement sent by PR Newswire.
(Bank of Nova Scotia will hold a conference call at 2:30 p.m. Toronto time. To listen, dial (1) (800) 796-7558 at least five minutes
Appeals court rejects eviction of Bank of America securities unit
NEW YORK A New York appeals court has refused to permit the eviction of the Bank of Americas securities unit from its Manhattan offices.
The ruling comes in a case in which landlord Solow Building Company tried to evict Bank of America because former broker Theodore Sihpol had been charged with illegal activity.
Bank of America is based in North Carolina.
A spokesman for Solow said he had no comment.
Source : wwaytv3.com
