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Glencore Makes Offer for Tecks Steelmaking Coal Business

LONDON, June 12 Reuters Glencore on Monday offered to buy Teck Resources39; steelmaking coal business as a standalone unit, after the Canadian miner twice rebuffed its 22.5 billon offer to combine the two companies. Teck Resources said on June 6 it had received several proposals for its coal business, as it reworks a plan to split it from its […]
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Novo Nordisk Invests 2.3 bln in Danish Production Facility

COPENHAGEN, June 12 Reuters Danish drugmaker Novo Nordisk will invest 15.9 billion Danish crowns 2.29 billion to expand a production facility in Denmark for products to treat serious chronic diseases, the company said in a statement on Monday. The existing facility produces active pharmaceutical ingredient API, the main biologically active components of medicines, and will be […]
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UK Set to Dodge Recession, but Big Problems Remain CBI

LONDON, June 12 Reuters Britain39;s economy now looks likely to sidestep recession entirely this year but deeprooted problems like weak business investment will persist, the Confederation of British Industry trade body said on Monday. The economy is on course to expand 0.4 this year and 1.8 next year, the CBI said, compared with its previous […]
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Dollar Tentative as Fed Pause Eyed in Busy C.Bank Week

SINGAPORE, June 12 Reuters The dollar steadied marginally on Monday but remained near multiweek lows against some major currencies as traders stayed on guard ahead of monetary policy decisions due this week from several central banks, including the Federal Reserve. The U.S. currency was pinned near a onemonth low against the British pound and the […]
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European Shares Rise at Open, all Eyes on C.Bank Meetings

June 12 Reuters European shares edged higher on Monday at the start of a week packed with major central bank policy meetings, while shares of Swiss drugmaker Novartis rose after it agreed to buy U.S.based Chinook. The panEuropean STOXX 600 index rose 0.3 by 0715 GMT. Meetings from the U.S. Federal Reserve, the European Central Bank […]
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Most Gulf Markets Drop in Early Trade

June 12 Reuters Most stock markets in the Gulf fell in early trade on Monday, tracking oil prices lower ahead of a U.S. Federal Reserve meeting as investors tried to gauge the central bank39;s appetite for further rate hikes. Markets are pricing in a 71 probability the U.S. central bank will stand pat when it meets on […]
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