Salomons agrees to $9bn merger with Smith Barney

Article Abstract:

Financial services concern Travelers Group is to undertake an all-share buyout of Salomon Inc, parent concern of investment bank Salomon Brothers. This will place Smith Barney, Travelers Group's retail stockbroker, in a very strong position. Travelers is already active in a range of financial services, including property and life insurance, annuities and mutual funds. The deal will focus attention on Paine Webber and Lehman Brothers, the two securities houses on Wall Street which remain independent.

Investment Banking and Securities Dealing, Investment Banking, Security brokers and dealers, Mergers, acquisitions and divestments, Investment banks, Travelers Inc., TRV, Salomon Inc., SB

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Market jitters hit Halifax price hopes

Article Abstract:

The auction to institutional investors of unwanted Halifax shares on May 30, 1997, is likely to have been negatively affected by the decline in the London stock market. Similarly, trading in new Halifax shares, which begins on Jan 2, 1997, is also likely to be at lower levels than originally anticipated. The decline in the stock market has also affected cigarette group Gallaher, with demand being dampened by the fact that the company's shares are being sold off by US shareholders.

Securities, Savings and loan associations, Tobacco industry, Gallaher Group PLC, Halifax Building Society

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Hong Kong surges, but London and Wall St hit by jitters

Article Abstract:

Stock prices in the US and United Kingdom did not perform as well as those in Hong Kong during a crisis in late Oct 1997, the 10th anniversary of the 1987 stock price crash. UK stock prices are likely to be affected by a statement by chancellor, Gordon Brown, on the UK's plans relating to European monetary union. US prices are affected by statements from Federal Reserve chairman, Alan Greenspan. Stock prices in mainland Europe are also volatile.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Economic aspects, Prices and rates, Stock-exchange, Stock exchanges, Exchanges, Financial markets

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