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Allen and Overy Advises on the Largest Sukuk Issue of 2009

Thu, 16 Jul 2009 09:45:00 GMT

The deal involves the transfer by SEC of a portfolio of assets to a custodian, Sukuk Electricity Company, a wholly-owned subsidiary of SEC.
The asset portfolio comprises the rights granted to SEC under a Saudi Arabian Council of Ministers Resolution to provide electrical service connections and to levy and receive a one-time charge for each connection.
HSBC Saudi Arabia Limited and Samba Capital were joint lead managers on the deal, with the securities receiving an 'AA-' rating from Fitch.

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UPI NewsTrack Business - Apr 23 2009 11:54AM

Thu, 23 Apr 2009 15:49:00 GMT

U.S. markets turn lower
NEW YORK, April 23 (UPI) -- U.S. markets turned lower Thursday after the Labor Department said first time jobless claims jumped by 27,000 in the week ending April 11.
United Parcel Service Inc. reported a 56 percent profit decline in its first quarter.

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Shadow Market Offers Exit for Start-Ups

Thu, 23 Apr 2009 13:49:00 GMT

Exit strategies for U.S. venture capitalists all but dried up in the first quarter of 2009, giving a small shadow market a window of opportunity.
To make a profit, venture capitalists sell their companies to another company or the public in an initial public offering, The New York Times reported Thursday.
Only 56 companies were sold in the first quarter, the Times said.

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UPI NewsTrack Business - Apr 2 2009 4:51PM

Thu, 02 Apr 2009 20:46:00 GMT

U.S. markets rally Thursday
NEW YORK, April 2 (UPI) -- U.S. stock indexes rose sharply Thursday, extending a rally into the second day of the second quarter, although initial jobless claims rose.
The U.S. Labor Department said first time unemployment claims rose by 12,000 in the week ending March 28 to 669,000 claims.

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Industry and U.S. Aren't Fully in Tune Over Regulation

Sat, 28 Mar 2009 16:50:00 GMT

Edmund L. Andrews reported from Washington, and Louise Story from New York.
Treasury Secretary Timothy F. Geithner has fired the opening salvo in what is likely to be a marathon battle to rebuild the broken system of U.S. financial regulation.
"Our system failed in fundamental ways," Mr. Geithner told the House Financial Services Committee on Thursday while outlining his far-reaching proposal.

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U.S. Plans to Tighten Financial Oversight Scrutiny to Increase on Hedge Funds and Pay for Executives

Mon, 23 Mar 2009 10:49:00 GMT

Landon Thomas contributed reporting from London.
The administration of President Barack Obama plans to seek increased oversight of hedge funds and new rules for executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping overhaul of financial regulation, government officials have said.
The outlines of the plan are expected to be made known this week in preparation for Mr. Obama's first summit meeting with leaders of other countries in early April.

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A Market That Keeps Buyers Blind Fair Game

Mon, 23 Mar 2009 10:49:00 GMT

Hammered by turbulent stock prices, American investors have retreated in recent months to the relative safety of good old municipal bonds.
Full disclosure, that bedrock of fair securities markets, is the heart of the problem facing municipal investors.
Indeed, municipal issuers often fail to file the most basic reports outlining their operating results or material changes in their financial conditions.

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Regulators Sketch a Plan to Control Bankers' Pay

Sat, 21 Mar 2009 17:47:00 GMT

Some of the world's most powerful central bankers and financial regulators are proposing that the U.S. Securities and Exchange Commission and its counterparts in other countries extend their powers to include the regulation of executive compensation.
Adair Turner, the top financial regulator in Britain, laid out the powers that he and some of his international colleagues hope to wield to ensure that bankers' bonuses do not rely solely on the pursuit of profit.
Not only would regulators insert themselves into the secretive realm of bank compensation practices, Turner said, but they also would also demand that banks set aside more capital if their pay packages were too high.

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FirstService Reports Third Quarter Results

Tue, 03 Nov 2009 11:47:00 GMT

TORONTO, Nov. 3, 2009 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV) (TSX:FSV.PR.U) (Nasdaq:FSRV) today reported results for its third quarter ended September 30, 2009.
For the quarter ended September 30, 2009, revenues were $451.1 million, a slight increase relative to the same period in the prior year, EBITDA (1) was $43.5 million, down from $47.5 million and Adjusted EPS (2) was $0.60, versus $0.68 reported in the prior year period.
"During the third quarter once again, we delivered solid results in Residential Property Management and excellent results in Property Services, while Commercial Real Estate continued to be under pressure primarily in North America and Europe," said Jay S. Hennick, Founder and Chief Executive Officer of FirstService Corporation.

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Fancamp to Acquire Godbout Uranium Property

Mon, 26 Oct 2009 21:46:00 GMT

Fancamp Exploration Ltd. (TSX VENTURE: FNC): The Company wishes to announce the signing of an option to acquire, with a 50% partner, 100% of a potentially significant uranium discovery located some 70 kilometres north of Godbout on Quebec's North Shore.
The uranium mineralization is associated with pegmatite dykes cutting granitic gneisses.
The mineralized dykes have strong airborne radiometric signatures, which are generally coincident with a distinct NW magnetic trend and form a corridor at least six kilometres long and varying from 1-2 km wide.

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Unico, Inc. Announces Filing of Amended Annual and Quarterly Reports Showing $4.8 Million Reduction of Accumulated Deficit

Thu, 15 Oct 2009 14:48:00 GMT

Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, has filed an amended annual report for the fiscal year ended February 28, 2009 and an amended quarterly report for the period ended May 31, 2009, which show the expected reduction of the company's accumulated deficit of over $4,800,000.
The company previously filed a Current Event on Form 8-K regarding the expected deficit reduction.
The amended reports were filed after Unico, Inc. received a comment letter from the U.S. Securities and Exchange Commission (S.E.C.) dated July 29, 2009 relating to the company's Annual Report on Form 10-K for the fiscal year ended February 28, 2009 and its Quarterly Report on Form 10-Q for the quarter ended May 31, 2009.

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Fancamp Announces Close of Flow Through Financing

Tue, 06 Oct 2009 19:48:00 GMT

Fancamp Exploration Ltd. (TSX VENTURE: FNC) wishes to announce the closing a non-brokered financing of $155,750 through the sale of 207,667 flow-through units (the "FT Units") at $0.75 per Unit.
Each FT Unit consists of one common share and one-half of one common share purchase warrant (the "Warrants").
Each whole Warrant will be exercisable into common shares at a price of $0.90 per share until October 2, 2011, subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires.

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NIKE, Inc. Reports Fiscal 2010 First Quarter Results

Tue, 29 Sep 2009 20:48:00 GMT

NIKE, Inc. (NYSE:NKE):
NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2010 first quarter ended August 31, 2009.
"We delivered a good start to the fiscal year," said Mark Parker, NIKE, Inc. President and Chief Executive Officer.

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Fancamp Announces Closing of First Tranche of Financing

Tue, 01 Sep 2009 20:50:00 GMT

Fancamp Exploration Ltd. (TSX VENTURE: FNC): Fancamp Exploration Ltd. wishes to announce the closing of a non-brokered private placement of $329,630 through the sale of 499,439 units (the "Units") at $0.66 per Unit.
Each Unit consists of one common share and one-half of one common share purchase warrant (the "Warrants").
Each whole Warrant is exercisable at a price of $0.80 per share until September 1, 2011, subject to earlier forced acceleration in the event the Company's shares close at a price of $1.00 per share or more for 30 consecutive trading days after the four month hold expires.

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Fancamp Exploration Announces Financing

Wed, 26 Aug 2009 14:47:00 GMT

Fancamp Exploration Ltd. (TSX VENTURE: FNC): Fancamp Exploration Ltd. wishes to announce that the Company has arranged a new non-brokered financing of $155,000 through the sale of 206,667 flow-through units (the "FT Units") at $0.75 per Unit.
Each FT Unit will consist of one common share and one-half of one common share purchase warrant (the "Warrants").
Each whole Warrant will be exercisable into common shares at a price of $0.90 per share for a period of up to 2 years from the closing date, subject to forced acceleration in the event the Company's shares close at a price of $1.00 per share for 30 consecutive trading days after the four month hold expires.

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Goldbrook-Jilin Jien Nickel Cash Offer For Canadian Royalties Bodes Well For Apella's Goldbrook Holdings

Fri, 07 Aug 2009 20:49:00 GMT

Apella Resources Inc. (TSX VENTURE: APA)(FRANKFURT: NWN) and its Board of Directors are pleased to announce that it appears today's $148.5 million all cash offer by China nickel giant Jilin Jien Nickel Industry Co. Ltd. and partner Goldbrook Ventures Inc. ("GBK") to acquire all of the outstanding common shares and debentures of Canadian Royalties Inc. could bode very well for Apella shareholders.
The offer would provide Jilin Jien and Goldbrook with effective control of all minable assets at Raglan in northern Quebec, with the exception of the ongoing Raglan operations of Xstrata.
Apella has a multi-million common share position in Goldbrook as a result of Apella selling Goldbrook its sizeable Raglan assets in 1997; and has seen the value of its Goldbrook common share holdings increase by over 100% over the past seven days.

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NHC Reports a 25.7% Increase in Net Income Available to Common Shareholders

Thu, 06 Aug 2009 22:13:00 GMT

National HealthCare Corporation (NYSE Amex: NHC)(NYSE Amex: NHC.PR.A), a publicly traded long-term health care company, today announced net income available to common shareholders for the quarter ended June 30, 2009 of $9,199,000 compared to $7,318,000 for the quarter ended June 30, 2008, an increase of 25.7%.
Net income was $.67 per basic common share for the quarter ended June 30, 2009 compared to $.57 per basic common share for the quarter ended June 30, 2008.
Condensed Statements of Income (in thousands, except share and per share amounts)

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The Law Firm of Shepherd Smith Edwards & Kantas LLP Continues to File Claims Against Morgan Keegan in Light of "Wells" Notice Filed By the S.E.C.

Thu, 16 Jul 2009 15:48:00 GMT

A Wells notice, though neither a formal allegation nor a finding of wrongdoing, does place the recipient on notice and provides them the opportunity to address the issues raised by the S.E.C. prior to any formal action being taken.
Specifically, the claims each allege Morgan Keegan engaged in a scheme to defraud investors in its RMK funds and misrepresented the extent of the funds' holdings in riskier investments, including collateral debt obligations and subprime mortgage securities.
Morgan Keegan investors sustained substantial financial losses after the subprime mortgage market declined.

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