BSkyB to raise $600 million in bond issue satellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses.
BSkyB, whose biggest shareholder is Rupert Murdoch's News Corp., said it will pay 9.5 percent interest on the 10-year bond notes to be issued to institutional investors.
It expects the offer to close by Nov. 24.
Last month, BSkyB posted a 21 percent rise in third-quarter operating profit resulting from a sharp increase in new customers.
Recession hits Japan, IMF needs more moneyJapan became the latest major economy to fall into recession Monday with France close behind, and the IMF said it needed at least $100 billion to fight the billowing economic crisis enveloping the world.
Industry gloom to cast shadow on L.A. Auto ShowNew cars are supposed to be the main attraction when the Los Angeles Auto Show kicks off Wednesday, but dreadful U.S. sales, bailout hearings in Congress, and General Motors' decision to all but pull out of the ...
GM shows 3 new models for China General Motors Corp. put three new models for China on show Tuesday, maneuvering to keep its edge in a market vital to its future as it struggles for survival back home.
The massive Buick Enclave SUV, sporty Chevrolet Cruze sedan and zippy but powerful Cadillac CTS-V unveiled in this aspiring auto industry hub in southern China are meant to cover the whole range of potential customers in China _ from the wealthy pleasure-seeker to young professionals buying their first vehicles.
'China is very, very important to us when you talk about the emerging markets,' said Robert Socia, vice president of Shanghai General Motors, one of GM's eight joint ventures in China. 'We're expanding very, very fast here and we're going to continue to do that.'
Top Republican senators oppose automaker bailout Top Republican senators said Sunday they will oppose a Democratic plan to bail out Detroit automakers, calling the U.S. industry a 'dinosaur' whose 'day of reckoning' is coming. Their opposition raises serious doubts about whether the plan will pass in this week's postelection session.
Democratic leaders want to use $25 billion of the $700 billion financial industry bailout to help General Motors Corp., Ford Motor Co. and Chrysler LLC.
Sens. Richard Shelby of Alabama and Jon Kyl of Arizona said it would be a mistake to use any of the Wall Street rescue money to prop up the automakers. They said an auto bailout would only postpone the industry's demise.
