Burger King raises IPO projections amid debt paydown plan
Burger King Holdings Inc. said it will offer 25 million shares in its IPO at $15 to $17 each, targeting up to $425 million before fees. The issue would value the firm at about $2.25 billion at $17, with proceeds largely for debt repayment. underwriters may buy 3.75 million more shares. If fully sold, up to $489 million could be raised.
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Burger King Holdings Inc
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McDonald's Corp
Wendy's International Inc
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Crude tops $74 as Iran tensions lift oil prices
Oil futures surged above 74 a barrel on Tuesday amid fears of supply cuts tied to Iran's nuclear standoff. U.S. officials expected European sanctions support, while gasoline costs rose to 2.92 a gallon, marking a 14 percent year over year rise. The United States Britain and France prepared a Security Council measure to compel Iran through sanctions or forceful action.
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Nigeria
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Saudi oil minister warns prices too high and unstable
Saudi Oil Minister Ali al-Naimi told an energy conference that current crude prices harm both producers and consumers and destabilize markets. He urged cooperation with the United States to stabilize oil, including a plan to raise Saudi output to 12.5 million barrels per day by 2009, while stressing need for other suppliers and conservation.
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Saudi Arabia
Ali al- Naimi
United States
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Bush Administration
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U.S
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