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.
Job losses mount amid recession bluesAll this was accompanied by another sharp sell-off on global equity markets. The International Monetary Fund stepped in to bail out troubled Iceland, leading a $10.2-billion help package, and was set to make as ...
GMAC files for bank holding statusGMAC Financial Services has applied to become a bank holding company, which would allow General Motors' financing arm to be eligible for aid under the government's $700 billion bank rescue plan.
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.'
LodgeNet Lays Off 30This week has seen a huge number of layoffs in Sioux Falls and LodgeNet announced today that they are laying off 30 people.