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Economy & Finances

Reforming EU audit services to win back investors’ confidence

calculate

The role of auditors has been called into question due to the financial crisis. "We need to win back the confidence of investors, who are looking for high-quality and independent auditing to give them the assurance that they need when investing in Europe's companies", said Sajjad Karim (ECR, UK), who is responsible for the audit reform package. The committee decided by 15 votes to 10 to enter into negotiations with Council, with a view to agreeing on a common text. The S&D, Greens/EFA and GUE/NGL groups voted against. Informal talks will... Read More »

Boskalis acquires EUR 75 million dredging contract in Germany

investment

Papendrecht, 9 April 2013 Royal Boskalis Westminster N.V. (Boskalis) has acquired a contract from Wasser- und Schifffahrtsamt Cuxhaven to maintain part of the shipping fairway of the River Elbe in Germany spanning a distance of 110 kilometers. The contract was awarded for a period of three years and has a value of approximately EUR 75 million. The activities are to commence in May 2013. The dredging activities are related to maintaining the shipping fairway of the River Elbe between the city of Wedel northward in the direction of Cuxhaven... Read More »

Rabobank to close its Equity Derivatives business

business-people

Rabobank Global Financial Markets have looked in great depth at the equity derivatives business and it is clear that it makes a limited contribution to Rabobank International’s key strategic goals of becoming the number one Wholesale bank in the Netherlands and the leading player in the food and agriculture industry. At the same time, the new regulatory and compliance rules surrounding structured products, especially when sold to private clients, have raised both the perception of potential reputational risk and costs. When combined with declin... Read More »

Shell ready to invest several hundred million dollars in promising technology companies

partner

Gerald Schotman, Executive Vice President Innovation, R&D and Shell Chief Technology Officer, said: “Ideas from outside the organisation are critical to our open innovation approach to R&D. We want to enable the brightest and the best to develop their ideas, and benefit from Shell’s expertise and global reach, so that we can get these technologies up and running in our projects as fast as we can.” As well as promising technology companies, Shell is looking to invest in technology spin-outs and externally-managed venture capita... Read More »

Guaranteed price for April: 37.00 euros

factory-milk

The FrieslandCampina guaranteed price for raw milk for April 2013 is 37.00 euros per 100 kilogrammes of milk. The guaranteed price for April is therefore 2.50 euros above the level of the guaranteed price for March 2013 (34.50 euros). The increase in the guaranteed price is the result of expected higher milk prices of the reference companies in April, due to the sharp increase in the price of commodities such as skimmed and full-fat milk powder, whey powder and butter in March. These price increases are due to the lower milk supply from New Ze... Read More »

Heineken N.V. successfully prices EUR 500 million of Notes

money

Amsterdam, 26 March 2013 – Heineken N.V. today announced that it has successfully placed 8-year Notes for a principal amount of €500 million with a coupon of 2.0%. The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange. The proceeds from the Note issuance will be used for general corporate purposes. Deutsche Bank, HSBC, Rabobank, Societe Generale, ABN AMRO, BBVA, Credit Agricole CIB, Banca IMI and Santander have acted as book runners for this transaction. ... Read More »

Nokia Siemens Networks Finance B.V. issues EUR 800 million Senior Notes and announces pricing

finance

Espoo, Finland - Nokia announced today that Nokia Siemens Networks Finance B.V. (the "Issuer"), a wholly owned subsidiary of Nokia Siemens Networks B.V., is issuing EUR 450 million Senior Notes due 2018 at a coupon of 6.75% per annum (the "2018 Notes") and EUR 350 million Senior Notes due 2020 at a coupon of 7.125% per annum (the "2020 Notes" and, together with the 2018 Notes, the "Notes"), each at an offering price of 100%. The offering was announced on March 18, 2013. The Notes amount to an aggregate total of EUR 800 million, which is an incr... Read More »

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