Find an alternative or else, Smith's management told

Article Abstract:

Stockholders in WH Smith have told the company to find an alternative proposal to that offered by Tim Waterstone, millionaire. Waterstone proposes disposals and gearing up WH Smith, while returning cash to stockholders. Stockholders are concerned at the idea of gearing up Smiths since its cash flow is not stable, but are prepared to accept disposals. Waterstone argues that gearing up make sense in terms of tax planning since there is tax relief for debt payments.

GENERAL MERCHANDISE STORES, Retail industry, Retail trade, Retail stores, WH Smith Group PLC

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Nice price

Article Abstract:

Merrill Lynch has acquired Smith New Court, a market maker, for 526 million pounds sterling. Bonuses will have to be paid by Merrill Lynch to retain staff at Smith New Court, since its assets are concentrated in its staff. Potential takeover targets among independent stockbrokers in London, England, include Cazenove and Flemings. Schroders, the merchant banker, will continue its links with Smith New Court, and is not considering stronger ties with Cazenove.

Securities Brokerage, Securities dealers, Stockbrokers, MER, Merrill Lynch & Company Inc., Smith New Court PLC

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Spotting the mines from the minefields

Article Abstract:

Mining shares offer high potential rewards but they also represent a risk. A Ony some tenth of investments are successfully but success can bring a twentyfold increase in returns. The track record of managers should be examuined by investors and politcal risks evaluated. Other factors to take into account include geological characteristics of exploration sites, usage of technology, and environmental risks involved in mining projects.

Mining & Extractive Industries, Mining, Analysis, Economic aspects, Mining industry, Precious metals

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