Business Finance

WOODCLIFF LAKE, N.J. (Map) - WOODCLIFF LAKE, N.J., Nov. 21 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today filed with the U.S. Securities and Exchange Commission (SEC) its Form 10-Q for the first and second quarters of 2007. The filing of Par's Form 10-Qs for these periods had been delayed due to the work involved in restating its consolidated financial statements for certain prior periods, which were filed earlier this year.

For the first quarter ended March 31, 2007, Par reported total revenues of $234.2 million and net income of $41.5 million, or $1.19 per diluted share. This is compared with reported revenues of $172.3 million and net income of $4.5 million, or $0.13 per diluted share, for the same period in 2006.

Debt market to face volatility

The US sub-prime mortgage crisis is likely to worsen in 2008, but it will have a marginal direct impact on the local debt market, according to Nattapol Chavalitcheevin, president of the Thai Bond Market Association. The Securities and Exchange Commission prohibits local mutual funds from investing in high-risk debt securities like sub-prime collateralised debt obligations.

However, the US sub-prime crisis has increased the cost for local firms looking to issue debt in the offshore market, causing them to shift to the domestic market.

In addition, it could push up yields of securitisation in the future because of a higher risk perception.

''At present, no local mutual funds have invested in sub-prime collateralised debt obligations. And there are no sub-prime mortgage-backed securities in the domestic market,'' he said.

Nigeria: Ministers 'll Give Account On Budget-FG

THE House of Representatives, under the speakership of Dimeji Bankole, is to enforce compliance with budgetary provisions by ministers. This, according to him, will be carried out through the mechanism of the House's oversight function.

(AFX UK Focus) 2007-11-21 14:15 GMT: Swiss shares under pressure in afternoon amid economic worries, weak financials

ZURICH (Thomson Financial) - Share prices remained under pressure in early afternoon trade, in line with markets across Europe, with rising oil prices and a falling dollar adding to gloom.

At 2.20 pm, the Swiss Market Index was 136 points or 1.6 pct lower at 8,202.95, while the Swiss Performance Index was off 119.70 points at 6,675.84.

The euro gained against the Swiss franc to 1.6410 sfr, while the dollar weakened to 1.1106 sfr.

"The market is testing new lows today. There is little in terms of corporate news to lift sentiment and macro data is also unlikely to impact," a Zuercher Kantonalbank trader said.

"I'm not sure we have seen the bottom yet. All depends on the developments of US markets," he noted.

Financials continued under pressure, with UBS down 4.1 pct or 2.05 at 48.50 sfr, following recent speculation about further losses related to the sub-prime market crisis.

(AFX UK Focus) 2007-11-20 09:44 GMT: London shares rally peters out in early trade; Icap up after results UPDATE

(updates with more details)

LONDON (Thomson Financial) - London shares saw a rally fade an hour into the session, after a slump yesterday, though interdealer broker Icap was up after first-half results showing strong volume growth.

At 9.07 am, the FTSE 100 index was 9.3 points lower at 6,111.5, having been as high as 6,183.9 in earlier trade.

Yesterday, the index fell 170.4 points, or 2.7 pct, to close at 6,120.8.

The FTSE 250 index was down 45 points at 10,359.5.

Volume was strong, with 392 mln shares having traded in 119,424 deals.

Other markets worldwide fell yesterday, but not as badly as London, which has perhaps more potential for recovery today.

Wall Street resumed its slide Monday as investors absorbed a gloomy outlook for the banking sector as well as bleak news about housing.

H&R Block CEO Ernst resigns, Breeden to be chairman

KANSAS CITY, Mo. (AP) - Mark Ernst has resigned as chairman, president and chief executive of H&R Block Inc., the tax preparation and accounting services company said Tuesday.

Ernst is being replaced as chairman by former chairman of the Securities and Exchange Commission, Richard Breeden, who led a dissident shareholder group that won three seats on the H&R Block board.Former Aetna Inc. executive Alan Bennett was named interim CEO while H&R Block looks for a permanent replacement.Breeden has criticized the company's diversification into mortgage lending, investment advising and banking, saying it had robbed momentum from the company's core tax preparation and accounting services business.Ernst's departure follows the resignation of Chief Financial William Trubeck earlier this month.

Research and Markets: New Oil and Gas Assets Report Examines Eni SpA's Key Business Structure and Operations

This report is an essential source for company data and information. The report examines Eni SpA's key business structure and operations, history and products, and provides summary analysis of its key revenue lines and strategy. It provides a unique insight into the company's major oil and gas assets and their historic performance.

Kenya: Telkom Kenya's Rescue Package Blocks Out Safaricom Bidders

Kenyan authorities moved last week to swiftly block investors eyeing a controlling stake in fixed line telephony provider, Telkom Kenya, from directly accessing government shares in the profitable mobile phone service firm, Safaricom.