Articulo The Economist
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Publicado: 8 de febrero de 2013
Economist.com
http://www.economist.com/businessfinance/PrinterFriendly.cfm?story_id...
Business this week
Jan 21st 2010 From The Economist print edition
Kraft Foods won a four-month battlefor Cadbury after substantially raising its offer for the venerable British confectioner, to £11.9 billion ($19.4 billion). The American food giant’s pursuit of Cadbury led to a debate in Britainabout the demise of manufacturing. The business secretary said he hoped Kraft would continue to make “perfectly formed Creme Eggs” in Britain. See article Warren Buffett, who holds a 9% stake in Kraft,insisted the company had done “a bad deal”. After complaints about undermining shareholder value, Kraft reduced the number of new shares it might issue as part of the deal from 370m to 265m. Mr Buffettthinks this is still “very expensive currency” to acquire Cadbury, but as the amount of new stock is less than 20% of existing capital, Kraft no longer needs shareholder approval.
Number crunchingAs the Obama administration prepared to announce proposals that would limit the size of financial companies that are “too big to fail”, America’s big banks reported their earnings. Bank of Americamade a headline net loss of $194m in the fourth quarter, although this increased to a $5.2 billion loss after including the effects of repaying aid received under the Troubled Asset Relief Programme(TARP). In a sign that its consumer-loan portfolio is still struggling, BofA raised its provision for credit losses to $10.1 billion in the quarter from a year earlier. Net write-downs for the yeardoubled, to $33.7 billion. See article Citigroup went back into the red, reporting a $1.4 billion net loss (which increased to $7.6 billion once repayments of bail-out money were accounted for). Citi’sloss for the whole year was $1.6 billion, compared with $28 billion in 2008. See article Wells Fargo managed to make a quarterly profit, of $2.8 billion, even though it repaid $25 billion in TARP...
http://www.economist.com/businessfinance/PrinterFriendly.cfm?story_id...
Business this week
Jan 21st 2010 From The Economist print edition
Kraft Foods won a four-month battlefor Cadbury after substantially raising its offer for the venerable British confectioner, to £11.9 billion ($19.4 billion). The American food giant’s pursuit of Cadbury led to a debate in Britainabout the demise of manufacturing. The business secretary said he hoped Kraft would continue to make “perfectly formed Creme Eggs” in Britain. See article Warren Buffett, who holds a 9% stake in Kraft,insisted the company had done “a bad deal”. After complaints about undermining shareholder value, Kraft reduced the number of new shares it might issue as part of the deal from 370m to 265m. Mr Buffettthinks this is still “very expensive currency” to acquire Cadbury, but as the amount of new stock is less than 20% of existing capital, Kraft no longer needs shareholder approval.
Number crunchingAs the Obama administration prepared to announce proposals that would limit the size of financial companies that are “too big to fail”, America’s big banks reported their earnings. Bank of Americamade a headline net loss of $194m in the fourth quarter, although this increased to a $5.2 billion loss after including the effects of repaying aid received under the Troubled Asset Relief Programme(TARP). In a sign that its consumer-loan portfolio is still struggling, BofA raised its provision for credit losses to $10.1 billion in the quarter from a year earlier. Net write-downs for the yeardoubled, to $33.7 billion. See article Citigroup went back into the red, reporting a $1.4 billion net loss (which increased to $7.6 billion once repayments of bail-out money were accounted for). Citi’sloss for the whole year was $1.6 billion, compared with $28 billion in 2008. See article Wells Fargo managed to make a quarterly profit, of $2.8 billion, even though it repaid $25 billion in TARP...
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