Basell to buy Lyondell for about $12.14 billion

(Reuters) - The deal value of $12.14 billion is based on Lyondell's shares outstanding as of March 31.




Basell has been on the look out for acquisitions in the chemical sector and recently lost out to Saudi-based SABIC in the auction process for General Electric Co.'s GE Plastics.


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U.S. Stocks Retreat on Drop in Durable Goods; GE, Countrywide Shares Fall

(Bloomberg) -- U.S. stocks fell for a fourth day
after a government report said orders for durable goods
declined more than forecast and concerns lingered that losses
may worsen in bonds tied to mortgage loans.

General Electric Co., which makes products ranging from
appliances to jet engines, retreated. Countrywide Financial
Corp., the biggest U.S. mortgage lender, helped push a gauge of
financial shares to its lowest since April.


Read more at Bloomberg Stocks News

HSBC North America hires GE exec as CFO

(Reuters) - Mackay joins from General Electric Co.'s GE Healthcare subsidiary, where he was chief financial officer for the unit's global diagnostic imaging business, its largest operating business.




He succeeds Chris Spooner, who had filled the CFO position on an interim basis following the year-end retirement of Simon Penney. Spooner is head of group financial planning and tax at HSBC Holdings.


Read more at Reuters.com Bonds News