National / International News

Five things to know about Ted Cruz

BBC - Mon, 2015-03-23 06:45
The Tea Party darling is an Ivy League educated, Supreme Court veteran who shocked the political world in 2012.

Battle for Tikrit key to Iraq's future

BBC - Mon, 2015-03-23 06:38
Shia-led militia say they are biding their time in the battle for Tikrit as Western trainers try to bolster the Iraqi army, reports Jonathan Beale from near the frontline with Tikrit.

Murder arrest in missing Claudia case

BBC - Mon, 2015-03-23 06:26
A man in his 50s is arrested on suspicion of murdering missing York University chef Claudia Lawrence, who went missing in 2009.

Warning over foreign criminal checks

BBC - Mon, 2015-03-23 06:26
MPs warn about the checks on foreign criminals before and after they enter the UK after recent high-profile violent attacks.

VIDEO: 'Killed for speaking her mind'

BBC - Mon, 2015-03-23 05:55
The family of a young woman beaten to death in Afghanistan say the police did not do enough to protect her. The woman, Farkhunda, was killed by an angry mob after a mullah at a shrine in Kabul accused her of trying to burn the Koran.

VIDEO: Protester v MEP on UKIP pub protest

BBC - Mon, 2015-03-23 05:40
A protester who targeted the UKIP leader in a pub has claimed "our target was never Nigel Farage's family"

Paris Bans Some Cars For A Day To Battle Smog

NPR News - Mon, 2015-03-23 05:38

According to one company that measures air quality, the French capital last week briefly dethroned New Delhi and Beijing as the world's most polluted city.

» E-Mail This

How a poison pill works

Marketplace - American Public Media - Mon, 2015-03-23 05:33

For months, the biggest mall operator in the U.S., Simon Property Group (SPG), has been trying to buy the third largest, Macerich.

SPG has tried everything: SPG asked the board of directors from Macerich nicely, it has thrown money at shareholders, and now it's waging a nasty campaign in the press against the company's directors.

It's a classic example of a hostile takeover, and as SPG has gotten more and more hostile, Macerich has responded with some hostility of its own: a "poison pill."

A poison pill is essentially a deterrent designed to make a buyout very unpleasant for the acquiring company. Poison pills come in all sorts of shapes and sizes and have a variety of effects.

Poison pills come in two basic forms: They can either make an acquisition very hard to swallow, or they can have awful side-effects.

The Macerich poison pill falls into the first camp. If SPG attempts to buy up a huge chunk of Macerich — specifically 10 percent or more of the company — current shareholders will be able to buy one preferred share for every share of Macerich that they already hold. This will dilute the value of SPG's 10 percent stake, and also make it doubly expensive to buy Macerich.

Pretty hard to swallow, right?

There is one antidote to this poison, though, and that's money — and SPG has buckets of money. The company may decide it wants Macerich so badly it is prepared to spend the money and swallow the poison — with Macerich right along with it. 

How a poison pill works

Marketplace - American Public Media - Mon, 2015-03-23 05:33

For months, the biggest mall operator in the U.S., Simon Property Group (SPG), has been trying to buy the third largest, Macerich.

SPG has tried everything: SPG asked the board of directors from Macerich nicely, it has thrown money at shareholders, and now it's waging a nasty campaign in the press against the company's directors.

As SPG has gotten more and more hostile, Macerich has responded with some hostility of its own: a "poison pill."

A poison pill is essentially a deterrent designed to make a buyout very unpleasant for the acquiring company. Poison pills come in all sorts of shapes and sizes and have a variety of effects.

Poison pills come in two basic forms: They can either make an acquisition very hard to swallow, or they can have awful side-effects.

The Macerich poison pill falls into the first camp. If SPG attempts to buy up a huge chunk of Macerich — specifically 10 percent or more of the company — current shareholders will be able to buy one preferred share for every share of Macerich that they already hold. This will dilute the value of SPG's 10 percent stake, and also make it doubly expensive to buy Macerich.

Pretty hard to swallow, right?

There is one antidote to this poison, though, and that's money — and SPG has buckets of money. The company may decide it wants Macerich so badly it is prepared to spend the money and swallow the poison — with Macerich right along with it. 

Day in pictures: 23 March 2015

BBC - Mon, 2015-03-23 05:16
Images from around the world: 19 March

King musical headed for big screen

BBC - Mon, 2015-03-23 05:11
Beautiful, the Tony-winning and Olivier-nominated musical about the early life of Carole King, is to be turned into a film by Sony Pictures.

Six Nations breaks BBC viewer record

BBC - Mon, 2015-03-23 04:58
A record-breaking peak audience of 9.63 million tuned in to watch England v France in Saturday's Six Nations decider.

The Ebola detectives

BBC - Mon, 2015-03-23 04:53
How experts in Liberia track every new carrier

VIDEO: Understanding Ebola: Live debate

BBC - Mon, 2015-03-23 04:51
Statistician Hans Rosling and the World Health Organization's Margaret Lamunu take part in a debate on fighting Ebola in West Africa.

Media Dissect Sen. Ted Cruz's Presidential Prospects

NPR News - Mon, 2015-03-23 04:46

The Texas Republican's early focus will reportedly be fundraising and the caucuses. He faces what's likely to be a crowded Republican field for the 2016 presidential nomination.

» E-Mail This

Senegal ex-leader's son jailed

BBC - Mon, 2015-03-23 04:28
A court in Senegal sentences the son of former President Abdoulaye Wade to six years in prison for corruption.

Injured Lallana out of England squad

BBC - Mon, 2015-03-23 04:28
Liverpool midfielder Adam Lallana withdraws from the England squad to face Lithuania and Italy with a groin injury.

Wheelchair robbers hit post office

BBC - Mon, 2015-03-23 04:26
Two armed robbers dressed as women, one pushing the other in wheelchair, raid a village post office

UK lack of cyber-insurance exposed

BBC - Mon, 2015-03-23 04:23
About 98% of large UK firms lack insurance that could help them recover from a serious cyber-attack, says a UK government report.

Kabul lynching: Hundreds protest

BBC - Mon, 2015-03-23 04:23
Hundreds of Afghans protest against the public lynching at the weekend of a woman accused of burning the Koran.

Pages