As the Dow Jones Industrial Average soared beyond 15,000 recently, investors are engaging in a heated debate about the longevity of the bull market in stocks — now more than four years old and counting. But don’t lose track of the other bull market that has been marching higher for much longer … the long-term bull market in bonds. That’s because the fate of the great bond bull market could play a key role in the outcome for stocks. Many investment pros have warned repeatedly about the imminent demise of Treasury bonds. The Fed’s relentless quantitative easing, plus a soft global … [Read more...]

By Alexander Kolyandr and Olga Razumovskaya Published May 23, 2013 Dow Jones Newswires Russia's VTB Bank (VTBR.RS) said Thursday that it is in talks about exiting French Societe Generale SA's (GLE.FR) Russian unit, whose chief was arrested last week for allegedly taking a bribe. "We are in talks about exiting Rosbank. This is not a strategic investment for VTB. However, the terms and conditions of any deal will depend on market conditions," VTB, which holds an around 10% stake in Rosbank, said in an emailed statement. Russia's Investigative Committee last week said Vladimir Golubkov, chief … [Read more...]

Published May 23, 2013 Reuters BRUSSELS –  EU antitrust regulators accepted on Thursday concessions from Lufthansa , United Airlines , Air Canada and Continental to ease competition concerns about their transatlantic revenue-sharing pact. The European Commission said the airlines would give up airport slots in Frankfurt and New York, and also allow rivals to sell tickets on this route, confirming a Reuters story in February. "This decision is a further milestone in our effort to create a level playing field on transatlantic aviation markets, following our decision on oneworld in … [Read more...]

Published May 23, 2013 Dow Jones Newswires Lloyds Banking Group PLC (LLOY.LN) Thursday said 77 million shares of St James's Place PLC (STJ.LN) have been placed at a price of 5.80 pounds per share, giving gross proceeds of GBP450 million. MAIN FACTS: -Will realise a gain on sale of GBP40 million. -Placing will increase the Group's core tier 1 capital by GBP40 million, equivalent to an approximate 1 basis point benefit to its core tier 1 capital ratio. -On a pro forma fully loaded CRD IV basis, the placing will increase the Group's common equity tier 1 capital by GBP500 million, equivalent to … [Read more...]

Published May 23, 2013 Dow Jones Newswires China Construction Bank Corp. (0939.HK), China's second-largest bank by assets, said Thursday that it purchased a $100 million stake in Russia's VTB Bank (VTBR.RS). The Chinese bank said in a statement on its website that it bought the newly issued shares in the Russian bank through a placement. The state-controlled Russian bank's share offer raised about $3.3 billion, China Construction Bank said. Write to Liyan Qi at liyan.qi@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires Copyright © 2013 Dow Jones Newswires … [Read more...]

Published May 22, 2013 Dow Jones Newswires Blackstone Group LP (BX) and industrial landlord Prologis Inc. (PLD) agreed to acquire a warehouse portfolio that is majority owned by Lehman Brothers for $960 million, people familiar with the matter said Wednesday. The deal marks Blackstone's second acquisition of industrial properties this week. The private-equity company now owns 100 million square feet in the sector. Blackstone on Monday agreed to purchase 24 industrial properties from First Potomac Realty Trust (FPO) totaling about 4.3 million square feet for $259 million. Blackstone affiliate … [Read more...]

Published May 22, 2013 Dow Jones Newswires Industrial & Commercial Bank of China Ltd. (1398.HK), China's largest bank by assets, has appointed vice president Yi Huiman as president, replacing Yang Kaisheng who will retire. Mr. Yi, 49, joined the bank in 1985 and was named as vice president in 2008, state-owned ICBC said in a statement to the Shanghai Stock Exchange. The appointment is subject to approval from Chinese regulators, the statement added. The appointment of top executives at China's major state-owned banks is mainly decided by the ruling Communist Party. The decision to remove … [Read more...]

By Polya Lesova and Victor Reklaitis, MarketWatch Published May 22, 2013 Dow Jones Newswires NEW YORK –  U.S. stocks extended losses on Wednesday after minutes from the Federal Reserve latest meeting and comments from the Fed chief suggested the central bank may begin tapering its bond-buying program in coming months. Stocks had a wild ride during the session, as investors digested congressional testimony by Fed Chairman Ben Bernanke and the release at 2 p.m. Eastern of the minutes from the Fed's April 30-May 1 meeting. The Standard & Poor's 500 Index (SPX) was down 15.76 points to … [Read more...]

Published May 22, 2013 Dow Jones Newswires LyondellBasell Industries NV's (LYB) board has raised the plastics and chemicals company's quarterly dividend by 25% and approved the repurchase of up to 10% of its stock over the next 12 months, moves to increase shareholder return. The dividend increase to 50 cents a share will cost the company about $57.5 million more a quarter, based on roughly 575 million shares outstanding as of May 22. The increased interim dividend will be paid June 24. Chief Executive Officer Jim Gallogly said the new share-buyback plan and the dividend increase is … [Read more...]