Newspaper article The Christian Science Monitor

Business & Finance

Newspaper article The Christian Science Monitor

Business & Finance

Article excerpt

Swimming in record profits, Royal Dutch/Shell will buy back up to 3 percent of its shares this year, the company announced. The move, which is scheduled to begin as soon as today, could return more than $6 billion to stockholders. Shell reported a revenue jump of 85 percent - to $13.1 billion - in 2000.

Bankrupt Trans World Airlines, which American Airlines has planned to take over, received a new bid from an independent group of investors. Newly formed Jet Acquisitions Group Inc., which said its wants to preserve TWA as an independent carrier, offered almost $1 billion, about twice the size of the American bid. TWA has continued operations during bankruptcy proceedings, which have included the court extending a deadline for bids until Feb. 28.

As expected, the $29 billion offer by Lloyds TSB, the third- largest bank in Britain, for mortgage specialist Abbey National was turned down, the second such rejection since mid-December. Abbey has received preliminary permission from regulators to merge with the Bank of Scotland, although no details of the proposed deal have emerged. …

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