Thomson-Reuters Corporation is the name of a media company that will be created when The Thomson Corporation and Reuters merger.
Company structure
The chief executive officer of the merged company will be Tom Glocer, currently the chief executive of Reuters, and the chairman will be David Thomson, currently the chairman of Thomson.
The divisions of the company are as follows:
Thomson's news and financial information arm Thomson Financial will be effectively merged with Reuters into Thomson Reuters Markets, which will then trade under that name.
The remaining divisions of Thomson Corporation (Thomson Healthcare, Thomson Legal, Thomson Scientific, and Thomson Tax & Accounting) will operate as Thomson Reuters Professional.
Market position and antitrust review
The market of financial data provision then will be dominated by two companies, Thomson-Reuters with a (combined) market share of 34% and Bloomberg L.P. with a market share of 33%.
The transaction was reviewed by the U.S. Department of Justice and by the European Commission. On February 19, 2008, both the Department of Justice and the Commission cleared the transaction subject to minor divestments. The Department of Justice required the parties to sell copies of the data contained in the following products: Thomson's WorldScope, a global fundamentals product; Reuters Estimates, an earnings estimates product; and Reuters Aftermarket (Embargoed) Research Database, an analyst research distribution product. The proposed settlement further requires the licensing of related intellectual property, access to personnel, and transitional support to ensure that the buyer of each set of data can continue to update its database so as to continue to offer users a viable and competitive product. The European Commission imposed similar divestments: according to the Commission's press release, "the parties committed to divest the databases containing the content sets of such financial information products, together with relevant assets, personnel and customer base as appropriate to allow purchasers of the databases and assets to quickly establish themselves as a credible competitive force in the marketplace in competition with the merged entity, re-establishing the pre-merger rivalry in the respective fields."
These remedies are viewed as very minor given the scope of the transaction. According to the Financial Times, "the remedy proposed by the competition authorities will affect no more than $25m of the new Thomson Reuters group’s $13bn-plus combined revenues."
The transaction has also been cleared by the Canadian Competition Bureau.
Merger process
Historically, no-one single individual has been permitted to own more than 15% of Reuters, under the first of the Reuters Principles, which states that "Reuters shall at no time pass into the hands of any one interest, group or faction.". However, that restriction was waived for the purchase by Thomson, whose family holding company, The Woodbridge Company, will end up owning 53% of the enlarged business. Robert Peston, business editor at BBC News, stated that this has worried Reuters journalists, both because they are concerned that Reuters' journalism business will be marginalized by the financial data provision business of the merged company, and because of the threat to Reuters' reputation for unbiased journalism by the appearance of one majority shareholder. Pehr Gyllenhammar, chairman of the Reuters Founders Share Company, explained that the Reuters Trust's First Principle had been waived for the Thomson family because of the poor financial circumstances that Reuters had been in, stating that "The future of Reuters takes precedence over the principles. If Reuters were not strong enough to continue on its own, the principles would have no meaning.". He stated, not having met David Thomson but having discussed the matter with Geoff Beattie the president of Woodbridge, that the Thomson family had agreed to vote as directed by the Reuters Founders Share Company on any matter that the trustees deem to threaten the five principles of the Reuters Trust. Woodbridge will be allowed an exemption from the First Principle as long as it remains controlled by the Thomson family
Friday, March 28, 2008
Sunday, January 20, 2008
Hot Topic on India Inc. - January 20
Canara Bank Changes its Logo
Public sector banking in India is working overtime to catch up with the new jet set generation of today! Image overhauls are the call of the day with various public sector banks presenting a new look to appeal to the contemporary generation in India.
Bank customers are spoilt for choice these days. Foreign banks with their sophisticated images and hi-tech services make the competition stiffer. Next in line after Bank of Baroda and Jammu & Kashmir Bank, Canara Bank is all set for an image makeover! The upgrade is an attempt by the 100 year-old bank to retain and attract customers.
What does the new look of Canara Bank imply?
The new image of Canara Bank is reflected in its new logo – a blue and a yellow triangle interlocked. It is said to represent the strong bond between the bank and its customers – both within and outside the organization. The reinvented Canara Bank is focused on strengthening its customer base and improving relations with all its stakeholders – customers, employees, investors, institutions and society in general. The logo is accompanied by the new tagline ‘Together we can’.
Does the new image bring new ideas?
Nearly $3.8 million has gone into the re-branding process – what is the outcome? Apart from a new look, what else has changed for the bank? Are there new improved services for the young customer base including NRIs?
There are proposals to open overseas branches in 21 locations abroad – definitely a blessing for NRIs! Canara Bank has also issued Tier II bonds this month with an ‘AAA’ rating from CRISIL. A series of acquisitions may be in the pipeline followed by an increased stake in Can Fin Homes. The target is to attract an additional 10% business at the least from the 25 – 40 age group. The new logo was released in December 2007 so it’s early days yet to assess the impact of the makeover on the bank’s business. The immediate outcome though was a rise in its stock value on the exchange market!.
Same Article coud be found in www.window2india.com
Public sector banking in India is working overtime to catch up with the new jet set generation of today! Image overhauls are the call of the day with various public sector banks presenting a new look to appeal to the contemporary generation in India.
Bank customers are spoilt for choice these days. Foreign banks with their sophisticated images and hi-tech services make the competition stiffer. Next in line after Bank of Baroda and Jammu & Kashmir Bank, Canara Bank is all set for an image makeover! The upgrade is an attempt by the 100 year-old bank to retain and attract customers.
What does the new look of Canara Bank imply?
The new image of Canara Bank is reflected in its new logo – a blue and a yellow triangle interlocked. It is said to represent the strong bond between the bank and its customers – both within and outside the organization. The reinvented Canara Bank is focused on strengthening its customer base and improving relations with all its stakeholders – customers, employees, investors, institutions and society in general. The logo is accompanied by the new tagline ‘Together we can’.
Does the new image bring new ideas?
Nearly $3.8 million has gone into the re-branding process – what is the outcome? Apart from a new look, what else has changed for the bank? Are there new improved services for the young customer base including NRIs?
There are proposals to open overseas branches in 21 locations abroad – definitely a blessing for NRIs! Canara Bank has also issued Tier II bonds this month with an ‘AAA’ rating from CRISIL. A series of acquisitions may be in the pipeline followed by an increased stake in Can Fin Homes. The target is to attract an additional 10% business at the least from the 25 – 40 age group. The new logo was released in December 2007 so it’s early days yet to assess the impact of the makeover on the bank’s business. The immediate outcome though was a rise in its stock value on the exchange market!.
Same Article coud be found in www.window2india.com
Wednesday, January 16, 2008
Hot Topic on India Inc.
Rel Power IPO subscribed 10.5 times
The mega initial public issue of Anil Dhirubhai Ambani group's Reliance Power became the largest ever in India after over-subscription of more than 10.5 times on its opening day on Tuesday.Offered at a price band of Rs.405-450 for 228 million shares at a face value of Rs 10 each, the issue invited bids for 2,397,558,825 shares, data available with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) showed. The issue closes on January 18.While institutional buyers were required to pay 10 per cent of the subscription money on application, retail investors had to pay Rs 115, which is around 25 per cent of the issue price.In addition, Ambani and his associates bought the promoters' stake of 32 million shares at Rs 450 per share on the opening day. Thirty percent of the 228 million shares have been reserved for retail investors at a discount of 5 per cent."Within minutes of its opening, the issue was fully subscribed and by the time it ended at 5 pm, the issue had been oversubscribed some 10.54 times," said a senior official at one of the lead book running firms for the issue.
Movement on bourses
The over-subscription came on a day when the 30-share sensitive index (Sensex) of the Bombay Stock Exchange shed 476.96 points, or 2.30 percent, at 20,251.09 points."It seems like people sold some stocks for the public issue," said an analyst with a leading brokerage here, as every index, including those for small-caps and mid-caps, on the BSE ended in the red.
Power generation:
Reliance Power proposes to use the funds to build power generation units across the country with the funds. As per company officials, projects worth 28,000 MW are in the pipeline."This is the largest portfolio of power generation within a geographical area or a group anywhere in the world," Ambani said earlier. The government envisages an addition of 80,000 MW in the 11th plan (2007-2012).The company, which is an associate of Reliance Energy, was in November awarded the 4,000-MW Krishnapatnam power project in Andhra Pradesh, with the lowest bid for a tariff of Rs.2.33 per unit among all qualified bidders. Another major project of the company was the 4,000-MW Sasan power project in Madhya Pradesh, awarded in August.
The mega initial public issue of Anil Dhirubhai Ambani group's Reliance Power became the largest ever in India after over-subscription of more than 10.5 times on its opening day on Tuesday.Offered at a price band of Rs.405-450 for 228 million shares at a face value of Rs 10 each, the issue invited bids for 2,397,558,825 shares, data available with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) showed. The issue closes on January 18.While institutional buyers were required to pay 10 per cent of the subscription money on application, retail investors had to pay Rs 115, which is around 25 per cent of the issue price.In addition, Ambani and his associates bought the promoters' stake of 32 million shares at Rs 450 per share on the opening day. Thirty percent of the 228 million shares have been reserved for retail investors at a discount of 5 per cent."Within minutes of its opening, the issue was fully subscribed and by the time it ended at 5 pm, the issue had been oversubscribed some 10.54 times," said a senior official at one of the lead book running firms for the issue.
Movement on bourses
The over-subscription came on a day when the 30-share sensitive index (Sensex) of the Bombay Stock Exchange shed 476.96 points, or 2.30 percent, at 20,251.09 points."It seems like people sold some stocks for the public issue," said an analyst with a leading brokerage here, as every index, including those for small-caps and mid-caps, on the BSE ended in the red.
Power generation:
Reliance Power proposes to use the funds to build power generation units across the country with the funds. As per company officials, projects worth 28,000 MW are in the pipeline."This is the largest portfolio of power generation within a geographical area or a group anywhere in the world," Ambani said earlier. The government envisages an addition of 80,000 MW in the 11th plan (2007-2012).The company, which is an associate of Reliance Energy, was in November awarded the 4,000-MW Krishnapatnam power project in Andhra Pradesh, with the lowest bid for a tariff of Rs.2.33 per unit among all qualified bidders. Another major project of the company was the 4,000-MW Sasan power project in Madhya Pradesh, awarded in August.
Monday, January 8, 2007
Calculation of Savings Bank Account Interest
Hi,
Here is the way how you calulate your Saving Bank Account (S.B.A/c) Interest.
Introduction:
Savings accounts are accounts maintained by commercial banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money (by, for example, writing a cheque). These accounts let customers set aside a portion of their liquid assets that could be used to make purchases while earning a monetary return.
Features
Obtaining funds held in a savings account may not be as convenient as from a demand account. For example, one may need to visit an ATM or bank branch, instead of writing a cheque or using a debit card. However, this transference is easy enough that savings accounts are often termed near money.
Some savings accounts require funds to be kept on deposit for a minimum length of time, but most permit unlimited access to funds. True savings accounts do not offer cheque-writing privileges, although many institutions will call "savings accounts" their higher-interest demand accounts or money market accounts.
All savings accounts offer itemized lists of all financial transactions, traditionally through a passbook, but also through a bank statement. [Source: Wikipedia]
Therefore your Minimum Balance kept in the account for the Month of January is $ 350.00 ( 20th Jan).
The same pattern is used for 6 months. Then the total Minimum amount for all the 6 Months is Calculated.
Assuming the total Minimum Balance for 6 Months is $ 2350.00
Assumiing the Prevailing Rate of Saving Bank Account Interest is 4.5% p.a.
The interest for the total Minimum Balance is
= 2350*4.5/100
= $ 105.75 p.a.
= Interest for 6 Months is = 105.75/2
= $ 52.875.
Hope this would help you in Calculating the Interest earned from your Saving Bank Account.
Happy Reading :-)
Here is the way how you calulate your Saving Bank Account (S.B.A/c) Interest.
Introduction:
Savings accounts are accounts maintained by commercial banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money (by, for example, writing a cheque). These accounts let customers set aside a portion of their liquid assets that could be used to make purchases while earning a monetary return.
Features
Obtaining funds held in a savings account may not be as convenient as from a demand account. For example, one may need to visit an ATM or bank branch, instead of writing a cheque or using a debit card. However, this transference is easy enough that savings accounts are often termed near money.
Some savings accounts require funds to be kept on deposit for a minimum length of time, but most permit unlimited access to funds. True savings accounts do not offer cheque-writing privileges, although many institutions will call "savings accounts" their higher-interest demand accounts or money market accounts.
All savings accounts offer itemized lists of all financial transactions, traditionally through a passbook, but also through a bank statement. [Source: Wikipedia]
Metedology:
Interest on S.B.A/c is calculated on half yearly basis. Bank will take the minimum amount kept in the account from the Date 10th of each month to the last day of the month.
For Ex: You Have deposited $1000.00 on 1st of January, Withdrew $ 150.00 on 9th Jan. So, the Balance on 10th Jan is $ 850.00. Again you withdrew $ 500.00 on 20th Jan, ( Bal: $ 350.00) and Deposited $ 300.00 on 25th Jan, ( Bal: $ 650.00) and on 31st Jan, you withdrerw $ 100.00 (Bal: $ 550.00).Therefore your Minimum Balance kept in the account for the Month of January is $ 350.00 ( 20th Jan).
The same pattern is used for 6 months. Then the total Minimum amount for all the 6 Months is Calculated.
Assuming the total Minimum Balance for 6 Months is $ 2350.00
Assumiing the Prevailing Rate of Saving Bank Account Interest is 4.5% p.a.
The interest for the total Minimum Balance is
= 2350*4.5/100
= $ 105.75 p.a.
= Interest for 6 Months is = 105.75/2
= $ 52.875.
Hope this would help you in Calculating the Interest earned from your Saving Bank Account.
Happy Reading :-)
Thursday, December 28, 2006
Warren Buffet - A Principle to Learn
Warren Buffet
There was an hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity. Here are some very interesting aspects of his life:
1)He bought his first share at age 11 and he now regrets that he started too late!
2)He bought a small farm at age 14 with savings from delivering newspapers.
3)He still lives in the same small 3 bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4) He drives his own car everywhere and does not have a driver or security people around him.
5)He never travels by private jet, although he owns the world's largest private jet company.
6)His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
7) He has given his CEO's only two rules. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
8)He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
9) Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10)Warren Buffet does not carry a cell phone, nor has a computer on his desk.11)His advice to young people: Stay away from credit cards and invest in yourself.
I think we all need to follow his policy to the extent it does not harm our Investment.
Thanks for Reading :)
Vinay Danageri
[Note: this is a Collection]
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