Europe
European Stocks Post First Weekly Decline Since October, Paced by Danone European stocks posted their first
weekly decline since October on concern the eight-month rally in
equities has outpaced the outlook for earnings growth and
central banks will withdraw stimulus measures.
Hershey's Controlling Trust Pushes $17 Billion Bid for Cadbury, WSJ Says Hershey Co.’s controlling trust
wants the candy company to make a $17 billion bid for British
confectioner Cadbury Plc, the Wall Street Journal reported,
citing unidentified people familiar with the matter.
ECB Tightens Collateral Rules in Step Toward Unwinding Emergency Measures The European Central Bank tightened
the rules for the collateral it accepts against loans as it
tries to restore the “proper functioning” of markets and
prepares the ground to unwind emergency liquidity measures.
`Overvalued' U.K. Housing Market May Not Return to Peak Prices Until 2014 U.K. house prices will probably fall
next year, and it may take until 2014 to return to the levels at
the 2007 peak of the country’s biggest housing boom, according
to a Bloomberg survey.
Michelin CEO Says 2010 Revenue Unchanged at Best as Analysts Predict Jump Michelin & Cie., the world’s second-
largest tiremaker, said revenue is unlikely to increase next
year as the global economy remains subdued. Analysts had
predicted a 4.3 percent increase, according to 18 estimates.
RBS Sells $7 Billion of Debt in Biggest U.S. Corporate Offering Since May Royal Bank of Scotland Plc, sold $7
billion of debt due in March 2012, according to data compiled by
Bloomberg, equaling the largest U.S. corporate sale since May.
Bond Rally Tails Off in Europe as Seven-Month Advance Sends Investors Away The European credit market’s seven-
month rally is tailing off as investors booked returns of as
much as 70 percent and sought opportunities in other assets
including stocks and commodities.
Cadbury Should Consider Hershey Dual-Listing Merger, GFI Strategist Says Barnes & Noble Inc.’s Nook device
for reading digital versions of books, introduced last month, is
sold out and new orders won’t ship until after Christmas.
Santander Seeks Dismissal of Miami Suit for $3.2 Billion in Madoff Losses Banco Santander SA, the Spanish bank
that lost about $3.2 billion in Bernard Madoff’s fraud, asked a
court to dismiss a lawsuit against it over the losses, saying
investors who sued failed to link the bank to any wrongdoing.
Spyker, Maker of $235,000 Sports Cars, Moves Vehicle Assembly to the U.K. Spyker Cars NV, the Dutch maker of
$235,000 sports cars, plans to trim costs by moving assembly to
the U.K., where its major vehicle parts are made, and may
relocate more operations if the auto market remains depressed.
Europeans Tussle for Regulatory Posts as Van Rompuy, Ashton Get Top Jobs The European Union’s major powers
began maneuvering to win jobs to regulate their $15 trillion
economy after leaders named Herman Van Rompuy as the EU’s first
president and Catherine Ashton as top diplomat.
Leterme Likely to Return as Belgian Prime Minister as King Starts Search Belgium’s King Albert II sounded out
party leaders as the country, torn by tensions between Dutch and
French speakers, seeks a new prime minister following Herman Van
Rompuy’s appointment as the European Union’s first president.
Swine Flu Cases in Norway, Wales Indicate Mutation Into More Severe Virus Swine flu infections in which the
virus mutated to a form that’s more severe or less sensitive to
drug treatment are being investigated by European and U.S.
public health officials.
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