Morning Market Roundup: BP Ready for Criminal Charges, Alibaba Wants Yahoo
- Posted on December 29, 2011 at 8:13am by
Becket Adams
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Here’s what’s important in the financial world this morning:
China: China is looking for foreign investments in hospitals and financial firms instead of automobile factories or polysilicon plants, according to guidelines set by its National Development and Reform Commission (NDRC). The list, sitting on the agency’s website, notes the sectors for foreign investors that will be either encouraged, restricted or banned beginning on January 30, 2012.
”The focus is to optimize the foreign investment structure, push forward technology innovation and industrial upgrading,” said the NDRC in a statement.
(Related: Italy Auctions €7B in Long-Term Debt as Yields Fall.)
Alibaba.com: The company appears to really want a deal with Yahoo. Alibaba has hired the Washington lobbying firm Duberstein Group. The move is seen as a sign that the company would be open to making a bid for all of Yahoo, along with some private equity firms, if efforts to buy back Yahoo’s Asian assets doesn’t succeed.
Global merger and acquisitions dropped to their lowest levels in more than a year during the fourth quarter. It has dropped 16 percent from the previous quarter to $457.1 billion, with activity last seen since in mid-2010. Year to date, takeover volume has increased less than three percent to $2.25 trillion, according to Bloomberg.
Looking ahead to 2012, a merger and acquisition recovery doesn’t look promising thanks to the current volatile market, the euro zone’s debt crisis, and tighter credit markets deterring cash-heavy companies from making transactions.
BP Oil: U.S. prosecutors are preparing criminal charges against BP PLC employees in the 2010 Deepwater Horizon accident, reported The Wall Street Journal.
Prosecutors at looking at Houston-based engineers and at least one of their supervisors but the extent of the investigation isn’t known. They contend that that workers could have given false information to regulators about the risks associated from the Gulf of Mexico well when drilling was going on.
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doomytram
Posted on December 30, 2011 at 5:13pmAlibaba want’s yahoo…? No wonder yahoo is so racist/ in the tank for Ali baba or biased toward the Muslim. I’m betting they are ready to build a gigantic SUPER Mosque next to the 911 site still too.
Shoot. Nope.. CNN will carry 78 straight hours of nonstop boring repetitive talking head talk.about Ron Paul. Amen things are so upside down right now it seems. .
Report Post »SacredHonor1776
Posted on December 29, 2011 at 1:59pmBP? Someone wants to punish some ‘scape goats’?
Report Post »jaxum4
Posted on December 29, 2011 at 1:47pmTo Texas fire guy: I believe that you may have made a typo. Wasn’t that supposed to be “stinker”?
Report Post »PATRIOT802
Posted on December 29, 2011 at 12:36pmSue the crap out of them…………THEY DESERVE IT !
Report Post »SpankDaMonkey
Posted on December 29, 2011 at 11:19am.
BP Ready for Criminal Charges, Alibaba Wants Yahoo…….
Kinda sounds like a sexual assualt……….
Report Post »PATRIOT802
Posted on December 29, 2011 at 12:35pmBP “Bad People”, “Bit*h Please” …….. many names can describe this unethical, uncareing, Obama loving company ……. Sue the crap out of them, THEY DESERVE IT !
Report Post »HumbleMan
Posted on December 29, 2011 at 10:41amNext the U.S. prosecutors will be preparing criminal charges for Al Gore, for lying to the entire world about global warming … errrr … climate change.
Report Post »texasfireguy
Posted on December 29, 2011 at 11:19amWe can only hope, but I’m afraid the Man Made Global Warming scam has been swallowed hook, line and sinker.
Report Post »From Virginia
Posted on December 29, 2011 at 8:59pm@Texasfireguy – people haven’t. The governments of the west (especially the UN) know it’s a sure cash cow to bankrupt the west – so they are pushing it on the people. I get my news from British papers (sad – ain’t it?) and they are about evenly split. They do, however, seem to admire us for not buying into it.
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