Early Edition July 28 2008 at 12:43 AM Chi-Chu Tschang and Harry Maurer
KKR to go public
Kohlberg Kravis Roberts & Co, the private equity granddaddy of the leveraged buyout, is finally getting a NYSE listing one year after announcing its intention to go public. However rather than raise money through an IPO, KKR is acquiring its Amsterdam-listed affiliate investment fund KKR Private Equity Investors LP. The merged company will delist from Amsterdam and list in New York in the fourth quarter.
KKR made its name more than three decades ago in a hostile takeover of RJ Reynolds and now controls hospital operator HCA and other companies. Its original plan to tap equity markets for up to $1.25 billion through an initial public offering was torpedoed by the credit market turmoil.
Source: Businessweek
Indian bomb blasts kill 49
A series of bomb blasts set off in Ahmedabad, India on Saturday have claimed 49 lifes so far. A little known Islamist group, the Indian Mujihadeen has claimed responsibility for the 17 explosions set off in residential areas, market places, public transport and hospitals.
Source:BBC
Ryanair profit plunges 85%
Budget airlines Ryanair reported an 85% drop in profit for the first quarter due to skyrocketing jetfuel prices which could force the company to record its first ever annual loss. Profit for the three months ended June was $33 million.
Source: Bloomberg
Beijing mulls more anti-pollution measures
The official opening of the Olympic Village in Beijing took place in a shroud of smog causing China's leaders to consider last-ditch efforts to reduce pollution before the games begin, including taking more cars off the roads and further factory closings.
Source: Guardian
Cambodian Prime Minister Sweeps Elections
The government of Prime Minister Hun Sen, Asia's longest serving leader of 33years, claimed victory in national parliamentary elections on Sunday that observers say were run smoothly and relatively violence free. Cambodia held its first democratic elections in 1993.
Source: BBC
Gas prices stay below $4 per gallon
Holiday makers are seeing some relief in mid summer thanks to 10 consecutive days of falling prices at the petrol pump, as gas stayed below $4 per gallon over the weekend.
Source: CNNMoney
Church shooting leaves 2 dead
A man went on a rampage with a shotgun in a Knoxville, Tennessee church full of 200 people on Sunday, killing two and leaving another seven critically injured. The shooter, Jim D. Adkisson, 58, of Powell, Tennessee, is being held on a $1 million bond.
Source: Reuters
Rolling Stones sign with Universal
Executives at EMI just can't get no satisfaction now that the Rolling Stones has left the label and signed a worldwide exclusive deal with Universal Vivendi.
Source: CNN Money
Conversation of the Day: The Frozen Economy
Reader Diane writes: "No one had a gun to our heads in signing loan docs or spending ourselves into financial ruin. We got ourselves into this mess-it's time to get ourselves out."
Tell Us: Are you making amends for overspending?
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