Platinum Futures Climb in New York on Supply Concerns; Palladium Declines

(Bloomberg) -- Platinum rose in New York a day after
Anglo Platinum Ltd., the world's biggest producer, said it may
miss its 2007 production target because of strikes and other
stoppages in South Africa. Palladium fell.

Refined platinum production will be 2.6 million to 2.65
million ounces, down from a previous estimate of 2.8 million to
2.9 million ounces, Anglo Platinum Chief Executive Officer
Ralph Havenstein said yesterday.


Read more at Bloomberg Commodities News

Gold Futures Head for Monthly Gain as U.S. Dollar Weakens; Silver Rises

(Bloomberg) -- Gold rose in New York, heading for
the first monthly gain since April, as the dollar's decline
against the euro boosted the appeal of the precious metal as an
alternative investment. Silver also gained.

Gold generally moves in the opposite direction of the U.S.
currency. The metal is up 4.2 percent this month as the dollar
has fallen 1.2 percent against the euro.


Read more at Bloomberg Commodities News

July consumer confidence at 6-year high

(Reuters) - "An improvement in business conditions and the job market has lifted consumers' spirits in July," said Lynn Franco, director of The Conference Board Consumer Research Center, in a press release.




The reading was well above expectations. The median forecast of economists polled by Reuters was for 105.0, up from an originally reported 103.9 in June.


Read more at Reuters.com Bonds News

US STOCKS-Indexes add to gains on consumer confidence

(Reuters) - The Dow Jones industrial average was up 126.89
points, or 0.95 percent, at 13,485.20. The Standard & Poor's
500 Index was up 12.93 points, or 0.88 percent, at
1,486.84. The Nasdaq Composite Index was up 21.79
points, or 0.84 percent, at 2,605.07.




Read more at Reuters.com Bonds News

UPDATE 1-CanWest switches to bridge financing for Alliance

(Reuters) - CanWest, Canada's biggest media company, along with a
private-equity affiliate of Goldman Sachs have agreed to
pay C$53 a share to buy Alliance Atlantis, co-producer of the
hit "CSI: Crime Scene Investigation" TV show, and owner of
Canadian specialty-TV channels.




CanWest's AA Acquisition Corp., which will acquire
Alliance, has written commitments from its banking syndicate
for bridge financing to complete the deal, the companies said
in separate statements.


Read more at Reuters.com Bonds News

TREASURIES-Bond prices edge higher as stocks pare gains

(Reuters) - The Dow Jones industrial average traded up 0.4
percent at 13,410 points, well off its earlier session highs.




Read more at Reuters.com Bonds News

Wall St. rises on data, GM earnings

(Reuters) - U.S. stocks climbed on Tuesday after General Motors Corp. added to optimism about corporate earnings and a key inflation indicator showed a smaller-than-expected rise.

GM shares jumped 6 percent to $34.56 after the blue-chip automaker swung to a profit in the second quarter and handily topped Wall Street's expectations. For details, see ID:nN30442082.


Read more at Reuters Africa

OPEC gets cash windfall in 2006 on oil boom

(Reuters) - OPEC's oil and gas export revenue surged 22 percent to a record $649 billion in 2006 as crude prices hit an all-time high and the exporter group pumped close to full tilt, an OPEC report showed on Tuesday.

In the world's biggest oil exporter Saudi Arabia income from petroleum exports, including crude oil, condensates and natural gas liquids, hit $194 billion last year, a rise of 20 percent, OPEC said in its Annual Statistical Bulletin.


Read more at Reuters Africa

US FCC delays vote on wireless auction rules

(Reuters) - FCC Chairman Kevin Martin, a Republican, has proposed
allowing requiring the winning bidders of some of the airwaves
-- to be sold by early next year -- to allow consumers to
connect using any device or software.




The airwaves to be sold in the 700-megahertz band can
travel long distances and penetrate thick walls. The auction
is seen as a last opportunity for a new player to enter the
wireless market.


Read more at Reuters.com Government Filings News

Pardus ups Valeo stake to over 18 percent

(Reuters) - Pardus principal Karim Samii and Valeo chairman and chief
executive Thierry Morin could meet soon as part of Valeo's
roadshow following the first-half results.




Samii said after the May 21 annual meeting he could raise
the stake to 20 percent.


Read more at Reuters.com Mergers News

Advanced Medical asks Bausch & Lomb for more time

(Reuters) - In a filing with the U.S. Securities and Exchange Commission, Advanced Medical also asked for permission to disclose nonpublic information to its shareholders in order to fully brief them on the merits of its bid. Advanced Medical wants to wrest Bausch & Lomb away from its existing agreement to be acquired by private equity firm Warburg Pincus for $3.67 billion.






Read more at Reuters.com Mergers News

WRAPUP 1-U.S. core inflation softens in June

(Reuters) - The 0.1 percent rise in the core personal consumption price
index "should be reassuring to the Fed," said Camilla Sutton,
currency strategist at Scotia Capital in Toronto.




U.S. stock index futures rose on the weak inflation data
and a stronger-than-expected earnings report from General
Motors . U.S. government debt prices fell despite the
inflation report, and the dollar was lower against the euro.


Read more at Reuters.com Economic News

Banco do Brasil, BR Malls, Petrobras, Santos, Vale: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index rose for a
second day. Gains were led by mining company Cia. Vale do Rio
Doce, which is expected to report higher second-quarter earnings.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 704.46, or 1.3 percent, to 55,277.07 as of 9:30
a.m. New York time.


Read more at Bloomberg Stocks News

Chile's Peso Gains on Higher Industrial Production, Copper Price Rebound

(Bloomberg) -- Chile's peso rose after industrial
production rose more than expected and copper, the country's
biggest export, gained because of threatened supply disruptions
caused by striking workers in Mexico.

Industrial production rose 6.7 percent in June from a year
earlier, higher than the 5 percent median forecast from nine
analysts in a Bloomberg survey.


Read more at Bloomberg Currencies News

DuPont to speed up rest of $5 bln share buyback

(Reuters) - DuPont, which announced the $5 billion stock repurchase
plan in October 2005, had previously expected to complete the
share repurchase plan by the end of 2007.





Read more at Reuters.com Bonds News

Entergy, GE-Hitachi in nuclear components deal

(Reuters) - Entergy said it has not yet made a firm decision to build a
new nuclear unit but wants to line up components now to allow
it to do so by 2017.




The company, which says it is the second-largest U.S.
nuclear operator, has operated nuclear plants at both those
sites since the mid-1980s.


Read more at Reuters.com Bonds News

RPT-US home prices fell in May - S&P/Case-Shiller

(Reuters) - The composite month-over-month Standard &
Poor's/Case-Shiller Home Price Index of 10 metropolitan areas
declined 0.3 percent to 218.37, bringing the year-over-year
change to 3.4 percent, S&P said in a press release.




The composite month-over-month Standard &
Poor's/Case-Shiller Home Price Index of 20 metro areas also
showed a 0.2 percent drop, to a 200.04 reading, or a 2.8
percent year-over-year loss.


Read more at Reuters.com Bonds News

UPDATE 1-Rally in US credit markets builds on Monday gains

(Reuters) - The main index of investment-grade credit default swaps
tightened 7 basis points to 61 basis points, while an index of
high-volatility names tightened 23 basis points to 148 basis
points.




"The sort of widening that we saw last Wednesday, Thursday
and Friday -- not only was it irrational, but also completely
unsustainable," an analyst at a major Wall Street firm said.


Read more at Reuters.com Bonds News

UPDATE 2-Shoppers help Canada's economy rebound in May

(Reuters) - OTTAWA, July 31 - Canada's economy grew slightly
less than expected in May but at a still-strong 0.3 percent
pace from the previous month, setting the stage for a second
interest rate hike by the Bank of Canada in September.




Statistics Canada said on Tuesday that a surge in retail
and wholesale trade mainly drove the growth, putting the
economy on track for second-quarter annualized growth of about
3 percent.


Read more at Reuters.com Bonds News

UPDATE 1-Marathon to buy Western Oil Sands for $5.56 bln

(Reuters) - Marathon said it will pay about $3.6 billion in cash plus
34.3 million shares or securities exchangeable for shares. It
will also assume about $650 million of debt.




The company also said its second-quarter profit fell on a
decline in oil and gas output and the absence of a year-ago
gain from the sale of Russian operations.


Read more at Reuters.com Mergers News

Liz Claiborne 2nd-qtr profit falls

(Reuters) - NEW YORK, July 31 - Clothing company Liz Claiborne Inc. said on Tuesday that quarterly profit fell 65 percent, hurt by charges from its restructuring plan and weak sales of its wholesale brands.



The company, which is exploring options for 16 clothing brands while boosting investments in four others, said second-quarter net income fell to $13.6 million, or 13 cents per share, from $39.4 million, or 38 cents per share, a year earlier. Excluding items, profit was 26 cents per share for Liz Claiborne, whose namesake designer died last month after battling cancer.


Read more at Reuters.com Market News

UPDATE 1-Amedisys Q2 profit beats market estimate; ups FY07 view

(Reuters) - Amedisys earned $14.9 million, or 57 cents a share, for the
quarter, on net service revenue of $169.5 million. Analysts on
average expected earnings of 53 cents a share, on revenue of
$160.4 million, according to Reuters Estimates.




The company raised its 2007 earnings outlook to a range of
$2.10 to $2.20 a share from $2.05 to $2.15. Its new estimate on
net service revenue is $650 million to $675 million, up from
its prior view of $625 million to $650 million.


Read more at Reuters.com Market News

IAC/InterActiveCorp quarterly profit rises

(Reuters) - NEW YORK, July 31 - IAC/InterActiveCorp , the Internet conglomerate owned by Barry Diller, said on Tuesday its quarterly profit rose 78 percent, helped by the sale of its European shopping channel and growth at its membership business.



At the same time the company said its key HSN shopping unit posted a slight 1 percent decline in revenue and reported what it said was unexpected softness in U.S. ticket volumes for its Ticketmaster box-office service. Second-quarter net profit rose to $95.97 million, or 32 cents per share, from $53.8 million, or 17 cents per share, a year ago.


Read more at Reuters.com Market News

UPDATE 1-Heidrick & Struggles profit boosted by tax credits

(Reuters) - Net income for the quarter rose to $21 million, or $1.11
per share, from $10.4 million, or 55 cents per share, in the
same period a year ago.




Excluding the $8.5 million tax benefit, earnings would have
been 66 cents per share, the company said.


Read more at Reuters.com Market News

UPDATE 1-Group 1 Automotive's quarterly profit dips

(Reuters) - DETROIT, July 31 - Car dealership chain Group 1 Automotive Inc. said on Tuesday that second-quarter profit fell 3 percent, hurt by declines in new- and used-vehicle revenue.



The Houston-based company, the fourth-largest auto retailer in the United States, said earnings declined to $24.2 million, or $1.01 per share, from $24.9 million, or $1 per share, a year earlier.


Read more at Reuters.com Market News

GM trounces estimates, shares surge

(Reuters) - Excluding such one-time items as charges related to Delphi's bankruptcy, the company said it earned $2.48 a share.




Analysts, on average, had been expecting adjusted earnings of $1.08 a share, according to Reuters Estimates. Forecasts on that basis had ranged from 50 cents per share to $1.64 per share.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Shoppers help Canada's economy rebound in May

(Reuters) - Analysts had forecast, on average, gross domestic product
growth of 0.4 percent after retail sales jumped 2.8 percent in
the month, the biggest monthly gain in nearly a decade.




The economy has expanded by 0.3 percent to 0.4 percent in
five of the seven months since November, largely driven by
domestic demand. Growth was flat in April.


Read more at Reuters.com Economic News

Treasuries Fall as Gains in Corporate Bonds, Stocks Reduce Safety Demand

(Bloomberg) -- Treasuries fell as gains in
corporate bonds and stocks sapped demand for the safety of
government securities.

A rebound in higher-risk assets combined with yields near
the lowest since May provided investors with few reasons to buy
Treasuries. The risk of owning European corporate bonds fell by
a record today, according to traders of credit-default swaps.


Read more at Bloomberg Bonds News

S.Africa June trade deficit higher at 5.31 bln rand

(Reuters) - South Africa recorded a trade deficit of 5.31 billion rand in June, compared to May's 2.67 billion rand shortfall, the South African Revenue Service said on Tuesday.

Economists polled by Reuters last week had forecast a deficit of 3.5 billion rand, but the data is notoriously volatile and difficult to predict.


Read more at Reuters Africa

Futures rise before inflation, other data

(Reuters) - Shares of fast-food chain Wendy's International Inc. will likely be in the spotlight after billionaire Nelson Peltz said his Triarc Cos. Inc. could offer up to $41 a share for the company.




The core personal consumption expenditure index, the Federal Reserve's favorite inflation indicator, is forecast to have risen 0.2 percent in June, according to economists polled by Reuters.


Read more at Reuters.com Business News

Merrill eyes new China partner for JV

(Reuters) - Merrill Lynch signed a non-legal binding agreement in 2005 with Huaan Securities, based in the eastern province of Anhui, and the Chinese broker had agreed to be responsible for seeking government approval, the sources said.




However, they failed to win Beijing's greenlight for the planned venture partly because Chinese securities regulator launched a national campaign in late 2005 to restructure its brokerage sector, once in deep financial trouble, putting Merrill Lynch's plan on hold at the time, the sources said.


Read more at Reuters.com Government Filings News

Goldman set to beat Merrill in Italy property fund

(Reuters) - The fund's manager, Pirelli & C Real Estate ,
recommended on Tuesday that Berenice unit holders accept
Goldman's offer.




It said the offer was 19.8 percent higher than the fund's
net asset value on June 30. It was also 40 percent higher than
Goldman's initial offer of 650 euros, it said.


Read more at Reuters.com Mergers News

UPDATE 1-Sirius Satellite net loss narrows

(Reuters) - Sirius, which has agreed to purchase rival XM Satellite
Radio Holdings Inc. , said its net loss was $134.1
million, or 9 cents a share, compared with a loss of $237.8
million, or 17 cents per share, a year before.




Excluding special items related to stock-based
compensation, the 2007 quarterly loss was 8 cents a share.


Read more at Reuters.com Bonds News

Fording profit drops on lower coal prices

(Reuters) - Analysts expected an average of 64 Canadian cents a unit,
according to Reuters Estimates.




Cash available for distributions to unitholders was C$135
million, or 92 Canadian cents a unit during the quarter, down
from C$147 million or C$1.00 a unit a year earlier.


Read more at Reuters.com Market News

CBS quarterly earnings, revenue drops

(Reuters) - Revenue fell 3 percent to $3.4 billion.




Read more at Reuters.com Market News

UPDATE 1-SABMiller Q1 underlying beer volumes up 13 pct

(Reuters) - "The group has made a strong start to the year," the world's
second-biggest brewer said in a trading update for April-June to
coincide with its annual shareholder meeting.




"Revenue growth was partially offset by higher input costs
and increased investment across the business," the maker of
Miller Lite, Peroni and Castle beers added.


Read more at Reuters.com Market News

UPDATE 1-AEP second-quarter earnings rise

(Reuters) - Excluding special items, AEP said earnings had increased to
64 cents per share from 44 cents.




Analysts on average expected profit of 58 cents per share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Heidrick & Struggles profit rises on tax credits

(Reuters) - Excluding the $8.5 million tax benefit, earnings would have
been 66 cents per share, the company said.




Read more at Reuters.com Market News

UPDATE 1-Entergy posts lower 2nd-qtr earnings

(Reuters) - Net income fell to $267.6 million, or $1.32 per share, from
$281.8 million, or $1.33 per share, a year earlier.




Excluding special items, Entergy's earnings rose on higher
energy prices and output at its nuclear units and lower tax
expenses at its wholesale power business. The company earned
$1.32 per share compared with a year-ago profit of $1.22 per
share when it excluded results from its bankrupt Entergy New
Orleans unit.


Read more at Reuters.com Market News

Crude Oil Rises to Near One-Year High as Refiners in U.S. Boost Operations

(Bloomberg) -- Crude oil rose close to a one-year
high on expectations U.S. refiners will step up their
operations, increasing demand for crude.

U.S. Energy Department will probably say tomorrow that
refiners increased operating rates 0.4 percentage point last
week, the sixth weekly gain, according to a Bloomberg News
survey. Crude oil stockpiles probably fell 1.3 million barrels
in the period.


Read more at Bloomberg Energy News

Suez First-Half Sales Rise 5.8 Percent on Higher Power Production, Prices

(Bloomberg) -- Suez SA, the French energy and water
group, reported an 8.5 percent increase in second-quarter sales
as higher electricity prices and output offset lower demand for
natural gas caused by above-average temperatures.

Sales climbed to 11.5 billion euros ($15.8 billion) from
10.6 billion euros a year earlier, Bloomberg calculated from
half-year figures published today by the Paris-based company.
Sales rose 5.8 percent to 23.7 billion euros in the first half.


Read more at Bloomberg Energy News

Price pressures, merger costs hit Alcatel-Lucent

(Reuters) - Alcatel-Lucent, created in December 2006 by the takeover of U.S.-based Lucent by Alcatel of France, has been struggling to win the confidence of customers spooked by uncertainty over the merged group's technology and product choices.




It already warned in April that sales could fall short of earlier targets.


Read more at Reuters.com Business News

CDM Resource Partners files for $169.1 mln IPO

(Reuters) - The company said it plans to list its units on the New York
Stock Exchange.





Read more at Reuters.com Bonds News

Nelnet quarterly net earnings fall

(Reuters) - The Lincoln, Nebraska-based company reported a second-quarter net profit of $14.8 million, or 30 cents a share, compared with $45.8 million, or 84 cents a share, last year.



Excluding discontinued operations, Nelnet said quarterly earnings were 44 cents a share versus 34 cents for the same period a year ago. Analysts on average expected 49 cents a share, before items, according to Reuters Estimates.


Read more at Reuters.com Market News

Lloyds TSB sells Abbey Life as profits, div rise

(Reuters) - LONDON, July 31 - British bank Lloyds TSB sold its Abbey Life insurance unit for almost 1 billion pounds



on Tuesday as it announced a 15 percent rise in underlying earnings and its first dividend hike in five years.


Read more at Reuters.com Mergers News

Corporate Bond Risk Declines by Record In Europe, Halting Three-Day Rout

(Bloomberg) -- The risk of owning European
corporate bonds dropped by a record today, halting a three-day
credit market rout.

Credit-default swaps on 10 million euros ($13.8 million) of
debt included in the iTraxx Crossover Series 7 Index of 50
European companies tumbled as much as 60,000 euros to 402,000
euros, according to JPMorgan Chase & Co.


Read more at Bloomberg Bonds News

S.Korea KOWEPO buys 120,000T S.African coal

(Reuters) - Korea's state-owned utility Korea East-West Power Co. (KOWEPO) bought 120,000 tonnes of South African coal for delivery from September onwards, a company source said on Tuesday.

The purchase was made around July 20, the source said, while declining to comment on the seller and the price.


Read more at Reuters Africa

Suzuki Q1 up as sales advance, Mazda lifted by yen

(Reuters) - Both automakers left their full-year profit forecasts
unchanged citing volatile exchange rates and unpredictable raw
materials prices.




Suzuki has been struggling to keep up with demand as high
fuel prices steer more consumers towards small, fuel-sipping cars
such as its Swift hatchback, particularly in Europe and South
Asia.


Read more at Reuters.com Market News

BSkyB to buy Amstrad from "Apprentice" boss Sugar

(Reuters) - LONDON, July 31 - British pay-TV firm BSkyB
has agreed to buy Amstrad , the consumer
electronics company run by celebrity businessman Alan Sugar, for
125 million pounds .




The 150-pence-a-share cash deal will net around 34.5 million
pounds for Sugar, who founded Amstrad in 1968 and has more
recently found fame on TV reality show "The Apprentice" in
Britain.


Read more at Reuters.com Mergers News

FTSE rallies more than 1 pct; GSK, miners shine

(Reuters) - Britain's top share index rose more than 1 percent on Tuesday, boosted by a jump in GlaxoSmithKline and after an overnight rebound on Wall Street helped to arrest a two-week long decline.

GlaxoSmithKline rallied 3.6 percent after an advisory panel said diabetes drug Avandia should stay on the U.S. market even though data suggest it may increase the risk of heart attack for some patients.


Read more at Reuters Africa

Exxon Says Operations at U.K.'s Fawley Refinery Are Resuming After Fire

(Bloomberg) -- Exxon Mobil Corp. said refining
operations are resuming at its 300,000 barrel-a-day refinery at
Fawley, the U.K.'s largest, after a fire at one of the steam
units halted operations on July 25.

``The refinery is continuing to restart operations at this
time,'' said spokeswoman Sophie Foale in a telephone interview
today. ``We aim to bring the refinery up as safely as possible.''
She gave no timetable for its return to full production.


Read more at Bloomberg Energy News

Foot Locker sees quarterly loss, retains advisor

(Reuters) - The New York-based company, which could put itself up for sale according to a recent media report, is trying streamline operations and the increased markdowns were to improve its inventory position before the start of the fall season.




Apollo Management is said to be mulling an offer of $29 per share, the paper said, and Michael Ashley, the billionaire behind British retailer Sports World International, has also expressed an interest, the New York Post newspaper said.


Read more at Reuters.com Business News

S.Africa antitrust body says MTN overcharged Cell C

(Reuters) - South Africa's Competition Commission said on Monday mobile operator MTN had discriminated against rival Cell C by charging it higher interconnect fees than competitor Vodacom in some areas.

The Commission said MTN's pricing was uncompetitive but referred the long-running dispute between the two firms to the Competition Tribunal, which has the final say on antitrust issues.


Read more at Reuters Africa

European Government Bonds Advance as Subprime Losses Spread Beyond U.S.

(Bloomberg) -- European government bonds rose for a
fifth day, pushing 10-year yields to the lowest in more than two
months, as the risk of owning corporate debt soared to a record.

Benchmark bunds headed for their longest run of gains since
March as Germany's IKB Deutsche Industriebank AG said it had
losses on U.S. subprime mortgages. Investors sold company debt
in favor of safer government securities as IKB's report added to
signs that the U.S. subprime debacle is spreading.


Read more at Bloomberg Bonds News

U.S., European Stocks Rebound on Earnings; Ingersoll-Rand Shares Advance

(Bloomberg) -- U.S. stocks fell, extending the worst
decline for the Standard & Poor's 500 Index in 4 1/2 years, on
concern rising mortgage defaults will spur banks to curb lending.

The S&P 500 dropped 1.39, or 0.1 percent, to 1457.56 as of
11:25 a.m. in New York. The index, which lost 4.9 percent last
week in its steepest retreat since September 2002, earlier today
rose as much as 0.6 percent.


Read more at Bloomberg Stocks News

Swiss Franc Gains on Speculation Investors Are Unwinding Carry Trades

(Bloomberg) -- The Swiss franc advanced on
speculation widening losses on bonds backed by subprime mortgages
prompted investors to unwind so-called carry trades funded by
borrowing in the currency.

The franc gained against 15 of the 16 most-actively traded
currencies after Germany's IKB Deutsche Industriebank AG reported
losses on U.S. subprime mortgages and the risk of holding
corporate debt surged to a record. The Swiss currency rose to the
highest in more than three months against the euro.


Read more at Bloomberg Currencies News

CORRECTED - CORRECTED-(OFFICIAL) PRESS DIGEST - Wall Street Journal - July 3

(Reuters) - * Adobe Systems Inc. faces a wave of criticism
from printing companies for a deal that gives FedEx Corp.'s
Kinko's copy stores a link on some Adobe software. The
flap could hurt Adobe's standing with smaller print-shop
customers.




* Dow Jones & Co. Inc.'s controlling shareholders,
the Bancroft family, were still deliberating late Sunday
whether to sell to News Corp. , which has offered $5
billion for the publisher.


Read more at Reuters.com Government Filings News

UPDATE 1-RESEARCH ALERT-BofA hikes equity allocation by 5 pct

(Reuters) - The brokerage cut its bond weightage by 5 percent to fund
the hike, and said bond positions should be protected against
rising inflation expectations, BofA's Thomas McManus said in a
note to investors.




The brokerage was utilizing Treasury inflation-protected
securities for this purpose, he said.


Read more at Reuters.com Bonds News

German Stocks Including Linde, Volkswagen Rise; Deutsche Bank, IKB Gain

(Bloomberg) -- German stocks including Linde AG
advanced after reporting earnings that beat analysts' estimates.
Volkswagen AG gained after analysts raised their price estimates
on the stock.

IKB Deutsche Industriebank AG led financial shares lower as
the lender, which invested in U.S. subprime mortgages, cut its
profit forecast.


Read more at Bloomberg Stocks News

Nordstrom, RadioShack, Rural Cellular, ValueClick: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 10:10 a.m. in New York.

Home Depot Inc. (HD US) rose the most since June 20, gaining
61 cents, or 1.7 percent, to $37.36. Shares of the world's
largest home-improvement retailer could double in the next three
years, Barron's said, citing no one.


Read more at Bloomberg Stocks News

Carolina Group 2nd-quarter profit rises

(Reuters) - After deducting profit attributable to parent Loews,
earnings were $1.30 per share, up from $1.09 cents per share.





Read more at Reuters.com Market News

UPDATE 1-Wrigley posts higher 2nd-quarter profit

(Reuters) - CHICAGO, July 30 - Wm. Wrigley Jr. Co. on Monday posted higher second-quarter profit, boosted by sales gains in Asia and Europe, and the weakness of the U.S. dollar.



The world's largest chewing gum maker said earnings rose to $169.8 million, or 61 cents a share, from $140.6 million, or 51 cents a share, a year earlier.


Read more at Reuters.com Market News

Yen climbs as risk aversion stays elevated

(Reuters) - The yen rallied against most currencies in volatile trade on Monday as concerns about the U.S. mortgage market sparked investors to unwind risky bets such as carry trades funded by the Japanese currency.

Fears that turmoil in the U.S. subprime sector have spilled over into the wider credit markets prompted traders to close carry trades, in which low-yielding currencies were used to buy high-yielding assets. The U.S. and New Zealand dollars slipped as a result.


Read more at Reuters Africa

UPDATE 3-KPN to buy Getronics for $1 bln, core profit flat

(Reuters) - AMSTERDAM, July 30 - Telecoms group KPN
has agreed to buy struggling information technology services
company Getronics for 766 million euros ,
making it the Dutch market leader in IT services.




KPN , which also beat analysts' expectations by
posting flat second-quarter core earnings on Monday, said the
cash takeover offer at 6.25 euros per Getronics share was part
of its strategy to move from providing communications links to
more value-added services in the business market.


Read more at Reuters.com Mergers News

Bancrofts face deadline on bid for DJ

(Reuters) - The Bancrofts control 64 percent of the voting shares of Dow Jones, owner of the Wall Street Journal. Slightly less than half of the family's votes favored the deal as of late Sunday, the Journal reported, citing a source close Dow Jones' board. This accounts for 28 percent of the overall voting shares.




That's just shy of the 30 percent voting approval that would give News Corp a comfortable margin to win support from outside shareholders, who hold about 29 percent of voting shares and are expected to largely back the deal.


Read more at Reuters.com Business News

Gold Rises in New York as Euro Rebounds Against the Dollar; Silver Climbs

(Bloomberg) -- Gold rose in New York as the
dollar's decline against the euro boosted the appeal of the
precious metal as an alternative investment. Silver also gained.

Gold generally moves in tandem with the euro, which
rebounded against the dollar after dropping 1.4 percent last
week. Before today, gold had gained 5.4 percent this year, while
the euro climbed 3.3 percent against the dollar.


Read more at Bloomberg Commodities News

Humana quarterly revenue rises 19 percent

(Reuters) - Net income rose to $216.8 million, or $1.28 per share, compared with $89.5 million, or 53 cents a share, a year earlier.




The Louisville, Kentucky-based company on July 18 announced the same earnings-per-share figures, but did not provide aggregate net income and revenue numbers.


Read more at Reuters.com Business News

Cameroon cocoa farmers should cut contamination

(Reuters) - Cocoa farmers in Cameroon could double their earnings if they improve drying methods to avoid contamination which reduces the quality of their beans, a senior scientist in one of the world's biggest growers said.

Many farmers in Cameroon dry their beans over simple wood or coal fires, often by the side of the road, risking contamination with polycyclic aromatic hydrocarbons (PAHs), pollutants formed by the incomplete combustion of carbon-based fuels.


Read more at Reuters Africa

UPDATE 1-US credit default swaps open 20 bps wider- Barclays

(Reuters) - The main index of investment-grade credit default swaps was
20 basis points wider at 98 basis points, while the
high-volatility index was also 20 basis points wider at 210.




Subprime mortgage concerns last week caused the credit
default swap index to widen by 26 basis points, or about 50
percent, the biggest weekly percentage move in the history of
the index, research firm Credit Derivatives Research said on
Friday.


Read more at Reuters.com Bonds News

Loews profit climbs 15 pct

(Reuters) - Profit attributable to Loews shareholders rose to $511.7 million, or 95 cents per share, from $474.9 million, or 85 cents a share.




Excluding investment losses, profit attributable to shareholders was $599.2 million, or about $1.11 per share, based on reported shares outstanding.


Read more at Reuters.com Hot Stocks News

Bausch & Lomb allows rival bidder to show info

(Reuters) - NEW YORK, July 30 - Eye-care products group Bausch & Lomb Inc. said on Monday it has agreed to allow rival Advanced Medical Optics Inc. to provide certain information about its $4.23 billion takeover offer to some of Advanced Medical's large shareholders.



Advanced Medical wants to wrest Bausch & Lomb away from its existing agreement to be acquired by private equity firm Warburg Pincus for $3.67 billion.


Read more at Reuters.com Mergers News

UPDATE1-Industrial Distribution forms panel for strategic review

(Reuters) - Second-quarter revenue is expected to be $132.6 million.




The company said internal process challenges related to its
recent IT system conversion continued to hurt its customer
service and sales.


Read more at Reuters.com Mergers News

Canadian Dollar Falls for Fourth Day on U.S. Subprime Impact Speculation

(Bloomberg) -- The Canadian dollar fell for a
fourth day as investors sold commodity-linked currencies on
speculation U.S. subprime mortgage losses will slow the world's
largest economy.

The Canadian currency fell 0.3 percent to 93.69 U.S. cents
at 8:58 a.m. in Toronto, extending the decline last week when it
dropped 1.45 percent. One U.S. dollar buys C$1.0674. Canada's
dollar fell 0.42 percent against the yen to 111.03.


Read more at Bloomberg Currencies News

Futures point to jumpy trading

(Reuters) - Tightening lending standards threaten to slow or halt the heavy pace of corporate buy-outs that have fueled a rally in equities.




In the latest sign of problems in the home lending market, American Home Mortgage Investment Corp. said its banks were demanding that it put up more cash after the mortgage lender was forced to write down the value of its mortgage and security portfolios. The shares fell more than 45 percent to $5.74 in electronic composite trading.


Read more at Reuters.com Bonds News

US STOCKS-Futures point to flat open, jumpy trading

(Reuters) - NEW YORK, July 30 - Wall Street was set to open
flat on Monday but trading was expected to be very volatile as
worsening sentiment about the global credit environment made
investors wary about the outlook for stocks.




Tightening lending standards threaten to slow or halt the
heavy pace of corporate buy-outs that have fueled a rally in
equities.


Read more at Reuters.com Bonds News

Germany's DAX Index Falls, Led by Allianz, Deutsche Bank; IKB Plummets

(Bloomberg) -- Germany's benchmark DAX Index
declined for a fifth day, led by financial shares after IKB
Deutsche Industriebank AG, which invested in U.S. subprime
mortgages, cut its profit forecast.

Linde AG paced rising shares after reporting earnings that
beat analysts' estimates. Volkswagen AG gained after analysts
raised their price estimates on the stock.


Read more at Bloomberg Stocks News

UPDATE 1-Russia's CTC Media Q2 earnings fall 10 pct

(Reuters) - MOSCOW, July 30 - Russian entertainment TV network
CTC Media on Monday posted second-quarter earnings
below analysts' expectations and 10 percent short of results a
year ago that were boosted by a hit serial.




Net profit reached $30.7 million compared with analysts'
average forecast of $36.2 million and a $34.1 million result in
the same period a year ago, when CTC's "Born Not Pretty" soap
was pulling in viewers.


Read more at Reuters.com Market News

Cosan sees IPO of 100 mln Class A common shares

(Reuters) - The Sao-Paulo Brazil-based company said it applied for a
New York Stock Exchange listing under the symbol "CZZ."





Read more at Reuters.com Government Filings News

UPDATE 1-Verizon Wireless to buy Rural Cellular

(Reuters) - Verizon Wireless, a venture of Verizon Communications
and Vodafone Group Plc , said Rural Cellular
shareholders would receive $45 per share in cash, a 16 percent
premium to the average closing price for the last 10 trading
days and 41 percent above Friday's close of $31.88.




The deal is worth $2.67 billion including the assumption of
net debt, according to Verizon Wireless. It said it expects
more than $1 billion in savings from reduced roaming fees and
operating expenses as a result of the deal.


Read more at Reuters.com Mergers News

TREASURIES-Prices rise on stocks, credit fears

(Reuters) - Benchmark yields reached two-month lows last week on
tumbling stocks and worsening sentiment about the credit
environment.




"It's just the continuation of flight to quality," said
Georges Yared, chief investment officer of Yared Investment
Research in Wayzata, Minnnesota.


Read more at Reuters.com Bonds News

UPDATE 1-Rising liquidity helps boost Audi H1 net profit

(Reuters) - FRANKFURT, July 30 - First-half net profit at
Volkswagen's premium unit, Audi , rose 67
percent to 679 million euros , the maker of the
TT sports coupe and Q7 luxury SUV said on Monday.




The gain in bottom-line earnings, exceeding the already
reported 40 percent increase in operating profit, was helped
mainly by interest income from the investment of rising net
liquidity, coupled with higher income from the valuation of
commodity futures, it said.


Read more at Reuters.com Market News

UPDATE 1-Humana quarterly revenue rises 19 percent

(Reuters) - Second-quarter revenue rose to $6.43 billion from $5.41
billion.




Net income rose to $216.8 million, or $1.28 per share,
compared with $89.5 million, or 53 cents, a year earlier.


Read more at Reuters.com Market News

CV hires Lehman Vice Chairman to review options

(Reuters) - In May, CV announced a plan to cut jobs and reduce the
number of sales territories to lower operating expenses.




"CV Therapeutics is in a unique position with a deep R&D
pipeline, global rights to a growing, first-in-class product in
Ranexa, and the potential 2008 approval of a second unique
compound in regadenoson. I am looking forward to helping the
company build value for these assets," Frank said in the brief
statement Monday.



Read more at Reuters.com Mergers News

Taiwanese Banks With Weak Ratings May Face Higher Funding Costs, S&P Says

(Bloomberg) -- Taiwanese banks with weak credit
ratings will probably face rising funding costs because of
``rising risk awareness in the debenture market,'' said Taiwan
Ratings Corp., a subsidiary of Standard & Poor's.

Taiwan's banks, which have largely been absent from the debt
market since 2006, are expected to issue more debentures to boost
capital and lock in lower long-term funding costs anticipating
more interest-rate increases, Taiwan Ratings said in a statement
on its Web site. It is 51 percent owned by Standard & Poor's.


Read more at Bloomberg Bonds News

Monster profit falls, announces restructuring

(Reuters) - The company said net income was $28.6 million, or 21 cents per share, compared with $39.6 million, or 30 cents per share, a year earlier.






Read more at Reuters.com Market News

US STOCKS-Futures point lower as credit worries persist

(Reuters) - NEW YORK, July 30 - Wall Street looked set to add
to last week's sharp losses on Monday, reacting to worsening
sentiment about the global credit environment.




Tightening lending standards threaten to slow or halt the
heavy pace of corporate buy-outs that have fueled an rally in
equities.


Read more at Reuters.com Bonds News

Los Angeles, Denver, New Jersey to Borrow for Schools, Airport, Housing

(Bloomberg) -- Los Angeles Unified School District,
Denver, New Jersey and Maryland will offer the largest of $5
billion of U.S. municipal bond issues planned for this week.

The Los Angeles school system, the second-biggest in the
nation after New York City, plans to borrow $1 billion to build
new schools and repair older ones. Denver will sell debt to
expand its airport and New Jersey will offer bonds to replenish
a trust fund for special-needs housing in two deals totaling
$860 million. Maryland will auction $375 million of debt for
schools, colleges, jails and other state building projects.


Read more at Bloomberg Bonds News

China raises banks' reserve requirements again

(Reuters) - The 0.5 percentage point increase in the reserve
requirement ratio would take effect on August 15, the People's
Bank of China said on its Web site, www.pbc.gov.cn. That takes
the ratio for big banks to 12.0 percent.




Many economists were not surprised by the move, though it
is uncommon for the central bank to announce such policy moves
on a Monday.


Read more at Reuters.com Bonds News

European Stocks Decline; Vodafone and DaimlerChrysler Pace the Retreat

(Bloomberg) -- European stocks fell. Vodafone Group
Plc, the world's biggest mobile-phone company, and DaimlerChrysler
AG, the fifth-largest carmaker, paced the decline.

The Dow Jones Stoxx 600 Index lost 0.4 percent to 371.35 at
11:36 a.m. in London after climbing as much as 0.5 percent
earlier. The Stoxx 50 also decreased 0.4 percent, and the Euro
Stoxx 50, a measure for the 13 nations sharing the euro, fell 0.6
percent.


Read more at Bloomberg Stocks News

Copper bounces as spotlight falls on tight supplies

(Reuters) - Copper prices bounced on Monday as the spotlight switched to tight supplies and equities firmed, but fears about economic and demand growth could return to spook the market.

Recovering confidence in metals and equity markets helped London-listed miners such as Rio Tinto, BHP Billiton, Xstrata, Anglo American to rise between 0.6 and 2.3 percent.


Read more at Reuters Africa

Botswana stock index slightly lower

(Reuters) - Domestic share prices on Botswana's stock exchange ended marginally lower last week, official data showed on Monday.

The Bank of Botswana said the Domestic Company Index (DCI) of the Botswana Stock Exchange fell 0.1 percent in the week to July 27, ending at 9,859.46 points.


Read more at Reuters Africa

German Benchmark Stocks Including Linde, Henkel Advance; IKB Plummets

(Bloomberg) -- German stocks including Linde AG
climbed after reporting earnings that beat analysts' estimates.
Volkswagen AG gained after analysts raised their price estimates
on the stock.

IKB Deutsche Industriebank AG tumbled after the lender that
invested in U.S. subprime mortgages cut its profit forecast,
pushing banking stocks lower.


Read more at Bloomberg Stocks News

U.K. FTSE 100 Rises for First Time in Five Days; HSBC, ICI, BHP Pace Gains

(Bloomberg) -- U.K. stocks including HSBC Holdings
Plc advanced. The world's fourth-largest bank reported profit
that topped analysts' estimates.

Imperial Chemical Industries Plc and BHP Billiton Ltd. also
rose. Vodafone Group Plc, the world's largest mobile-phone
company, fell.


Read more at Bloomberg Stocks News

Corporate Bond Risk Surges as Germany's IKB Reports Subprime-Loan Losses

(Bloomberg) -- The risk of owning European
corporate bonds soared to the highest in at least three years
after Germany's IKB Deutsche Industriebank AG reported losses on
U.S. subprime mortgages, credit-default swap prices show.

Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 34,000 euros to 478,000 euros at 10:35 a.m.
in London, according to JPMorgan Chase & Co. Credit-default
swaps are used to speculate on the ability of companies to repay
debt and an increase indicates worsening perceptions of credit
quality.


Read more at Bloomberg Bonds News

Johncom rejigs management after M-Net sale

(Reuters) - South African media firm Johnnic Communications has rejigged management as it focuses on expanding its media and entertainment business after selling its stake in pay-TV channels M-Net and Supersport.

Johncom said in a statement on Monday the restructuring would help the company sharpen its focus as it expands its core media and entertainment business. The firm said last year it was selling its stake in M-Net and Supersport to Naspers.


Read more at Reuters Africa

Pound Resumes Rally Against Dollar on View Interest Rates to Rise Further

(Bloomberg) -- The pound resumed its rally against
the dollar today on expectations the Bank of England will raise
interest rates further this year to curb inflation.

The U.K. currency rose after the Centre for Economic and
Business Research yesterday said Britain's flood crisis could
force inflation to quicken to a decade-high, rather than decline
as forecast by the BOE. Policy makers will raise borrowing costs
to 6 percent by year-end after holding them at 5.75 percent at
their Aug. 2 meeting, Bloomberg News surveys predict.


Read more at Bloomberg Currencies News

HSBC says profits up 13 pct

(Reuters) - Pretax profit rose to $14.16 billion for the half-year from $12.52 billion a year ago and ahead of an average forecast of $13.27 billion from a Reuters Estimates poll of nine analysts.




The bank said its result benefited from a gain of $1 billion from the dilution of a holding in its mainland China associates and that pretax profit was up 5 percent excluding that gain.


Read more at Reuters.com Business News

KPN to buy Getronics for $1 bln, core profit flat

(Reuters) - By Niclas Mika



AMSTERDAM, July 30 - Telecoms group KPN agreed to buy struggling information technology services company Getronics for 766 million euros , making it the Dutch market leader in IT services.


Read more at Reuters.com Market News

Italy's Fiat bidding for TK Aluminium - report

(Reuters) - MILAN, July 30 - Italy's Fiat has made an offer to buy TK Aluminium, another of its auto parts suppliers that is in deep financial trouble, the Financial Times reported on Monday.



Fiat may learn as early as Monday if its offer has been accepted, the newspaper said, citing people close to the talks. A failure by TK Aluminium could disrupt car production at the Italian industrial group.


Read more at Reuters.com Bonds News

Sanyo Q1 oper profit down 72 pct,outlook unchanged

(Reuters) - Operating profit came to 732 million yen in
April-June, down from 2.57 billion yen a year earlier. Net
profit totalled 2.57 billion yen, in a turnaround from a 9.67
billion yen loss, Sanyo said on Monday.




"We saw strong digital camera demand in overseas markets ...
but mobile phone sales shrank substantially in Japan because of
fierce competition," Sanyo Executive Vice President Koichi Maeda
told a news conference.


Read more at Reuters.com Market News

French Stocks Advance; France Telecom Gains as Morgan Stanley Lifts Rating

(Bloomberg) -- French stocks rose, paced by
Michelin & Cie. and France Telecom SA.

The CAC 40 Index advanced 37.44, or 0.7 percent, to 5681.40
at 9:54 a.m. in Paris. The SBF 120 Index also added 0.7 percent.
The CAC sank 5.3 percent last week for its biggest weekly loss
since the five days ending March 28, 2003.


Read more at Bloomberg Stocks News

Asia shares trim falls on solid earnings

(Reuters) - Asian markets opened sharply weaker and the yen gained after the S&P 500 index suffered its worst week in nearly five years on worries that tighter credit would cause takeover activity to slow.




With earnings season in full swing, there were a raft of positive results to support the market, from firms such as Fujifilm Holdings and Fanuc Ltd. .


Read more at Reuters.com Hot Stocks News

KPN to buy back Getronics debt, prefs for 415 mln euros

(Reuters) - KPN is planning to make a cash offer for struggling IT
services company Getronics of 6.25 euros per share.




Read more at Reuters.com Mergers News

CEDC to buy Polish alcohol distributor, raises outlook

(Reuters) - It now expects to post 2007 profit per share of $1.57 to
$1.73, a cent higher than its previous forecast range.




It increased its forecast for 2008 net sales to $1.26
billion to $1.36 billion, from $1.2 billion to $1.3 billion, and
its profit per share forecast for that year by 3 cents to $2.03
to $2.13.



Read more at Reuters.com Mergers News

Oil falls on profit taking after closing near record

(Reuters) - Oil fell on Monday, as investors took profit after U.S. crude prices leapt more than $2 to their second-highest close on record, fuelled by upbeat signals on the U.S. economy and nagging supply worries.

U.S. crude for September delivery fell 31 cents to $76.71 a barrel in Globex electronic trading by 0733 GMT, trimming Friday's $2.07, or 2.76 percent, surge that took oil to just a cent shy of its record-high settlement price of $77.03, marked on July 14, 2006.


Read more at Reuters Africa

Germany's DAX Shares Including Linde, Volkswagen Increase; TUI Retreats

(Bloomberg) -- German stocks including Linde Group
and Volkswagen AG gained, while TUI AG paced falling shares.

The benchmark DAX Index was little changed at 7449.64 as of
9:08 a.m. in Frankfurt. The HDAX Index of the country's 110
biggest companies was also little changed at 3842.16.


Read more at Bloomberg Stocks News

Alibaba Plans Hong Kong Initial Public Offering for Online Wholesale Unit

(Bloomberg) -- Alibaba.com Corp., operator of Yahoo!
Inc.'s Web site in China, said the company plans a Hong Kong
listing for a subsidiary that helps businesses buy and sell
products over the Internet.

Chief Executive Officer Jack Ma told employees at a July 28
meeting in East China's Hangzhou city, where Alibaba is based,
that the company had taken the first steps for listing its so-
called business-to-business e-commerce unit, Porter Erisman, a
spokesman for Alibaba.com, said today by telephone from Beijing.


Read more at Bloomberg Emerging Markets News

Melco PBL Hires Merrill Lynch to Sell $200 Million of Exchangeable Bonds

(Bloomberg) -- Melco PBL Entertainment (Macau) Ltd.,
a Macau casino venture between Lawrence Ho and Australian
billionaire James Packer, plans to raise $200 million selling
bond exchangeable into its shares, according to a sale document.

The Nasdaq-listed company plans to allow investors to
convert the bonds into its American depositary receipts at a
premium of between 40 percent and 50 percent to the closing price
of $12.28 on July 27, the document, which was sent to investors,
shows.


Read more at Bloomberg Bonds News

Statoil Q2 tops fcast, keeps 2007 production target

(Reuters) - The result beat a 27.4 billion crown average forecast in a
Reuters poll of 19 analysts, whose estimates had ranged from
22.4 billion to 31.7 billion crowns.




"The 11 percent increase in net income from the second
quarter of 2006 to the second quarter of 2007 was mainly due to
lower income taxes and higher sales volumes of natural gas,"
Statoil ASA said in a statement.


Read more at Reuters.com Market News

UPDATE 1-Statoil Q2 tops forecast, keeps '07 output target

(Reuters) - Pretax profit fell to 28.3 billion crowns in
the second quarter to end-June, beating a 27.4 billion average
forecast in a Reuters poll of 19 analysts, whose estimates had
ranged from 22.4 billion to 31.7 billion crowns.




Revenues at the Nordic region's biggest industrial company
by turnover rose 1 percent to 108.9 billion, beating the average
forecast of 105.7 billion.


Read more at Reuters.com Market News

Yen May Rise to 116 Per Dollar; Abe Remains Prime Minister, Deutsche Says

(Bloomberg) -- The yen may rise to a four-month high
of 116 per dollar as Japanese Prime Minister Shinzo Abe will
remain in office after his ruling coalition lost its majority in
upper house elections, according to Deutsche Securities.

Abe's decision to retain his post lessens political
instability that may have forced the Bank of Japan to delay an
interest-rate increase next month. The government is likely to
avoid raising sales taxes and close the income gap to appease
opposition parties, supporting consumer spending and the currency.


Read more at Bloomberg Currencies News

UPDATE 2-ABN withdraws backing for Barclays bid, profit dips

(Reuters) - AMSTERDAM, July 30 - Dutch bank ABN AMRO
withdrew its recommendation for a takeover offer from Barclays
, leaving it neutral on the competing offers from the
British bank and the higher bid made by Royal Bank of Scotland's
consortium.




The Netherlands' biggest bank, which faces a a 65.6
billion-euro offer from Barclays and a 71
billion-euro offer from the consortium of RBS, Belgium's Fortis
and Spain's Santander , also reported a 7.1
percent decline in its second-quarter net profit on Monday.


Read more at Reuters.com Mergers News

Asian Stocks Rebound From 1-Month Low; JFE, Nippon Steel Rise, Canon Falls

(Bloomberg) -- Asian stocks rebounded from a one-
month low after higher profits at JFE Holdings Inc. and Nippon
Steel Corp. offset concerns of a drop in U.S. housing investment.

Canon Inc., the world's largest digital-camera maker, and
Macquarie Bank Ltd., Australia's biggest investment bank, led
declines on speculation the housing slump will slow U.S. consumer
spending and end a global boom in takeovers.


Read more at Bloomberg Stocks News

Gold on defensive, TOCOM platinum falls by limit

(Reuters) - Gold stayed on the defensive on Monday, with investment funds nervous about taking new positions due to recent losses in global equities markets, while Japanese platinum futures fell by 2 percent, hitting their daily limit.

Falling share prices have forced investors to lighten positions in risky assets, including commodities, until the situation in the stocks market stabilises, traders said.


Read more at Reuters Africa

Akzo Nobel says ICI rejects its new takeover bid

(Reuters) - "Akzo Nobel continues to believe that ICI would represent a
highly attractive addition to its coatings business," Akzo said
in a statement. But it said there was no certainty it would make
another offer for ICI.




Read more at Reuters.com Mergers News

Barclays says will continue with ABN offer

(Reuters) - A recommendation from ABN had been a pre-condition of
Barclays' offer, but the British bank said in a statement it had
waived the precondition and instead made it a condition to the
completion of an offer.




Read more at Reuters.com Mergers News

Japan's Topix Climbs on Earnings Reports, Led by Steelmakers; Canon Drops

(Bloomberg) -- Japan's Topix index climbed, led by
steelmakers after companies including JFE Holdings Inc. reported
increased profits and boosted earnings forecasts.

A measure of steel companies included in the Topix surged
3.8 percent, after earlier dropping as much as 0.9 percent.


Read more at Bloomberg Stocks News

Malaysia's Naim Cendera Plans $144 Million Debt Sale to Help Fund Projects

(Bloomberg) -- Malaysia's government expects to
generate 177 billion ringgit ($51 billion) of investments
including manufacturing, agriculture and tourism projects in the
northern states till 2025 to spur economic growth.

It's a ``government initiative to drive economic growth and
raise income levels in the north of peninsular Malaysia,'' the
government said in a statement today. The state will spend one-
third of the investment, it said.


Read more at Bloomberg Emerging Markets News

U.S. Treasuries Decline on Speculation Bonds Have Become Too Expensive

(Bloomberg) -- Benchmark 10-year U.S. Treasuries
fell, snapping four days of gains, on speculation the securities
have become too expensive with yields near a 10-week low.

The yield on the 10-year note rose 2 basis points, or 0.02
percentage point, to 4.78 percent at 1:32 p.m. in Singapore,
according to bond broker Cantor Fitzgerald LP. The price of the
4 1/2 percent note due May 2017 fell 5/32, or $1.56 per $1,000
face amount, to 97 26/32. Yields move inversely to bond prices.
Ten-year note yields fell 19 basis points last week, the biggest
decline since the period ended Sept. 22.


Read more at Bloomberg Bonds News

Australian and New Zealands Dollars Slump as Investors Reduce Carry Trades

(Bloomberg) -- The Australian and New Zealand
dollars slumped to a one-month low as declines in stocks
prompted investors to cut holdings in higher-yielding currencies.

The Australian dollar has fallen 4.1 percent against the
U.S. currency since reaching an 18-year high on July 25. New
Zealand's dollar plunged 6.1 percent since reaching the highest
since 1985 on July 24. They have been favorites for carry trades,
in which traders borrow cheaply in yen and seek higher returns
globally.


Read more at Bloomberg Currencies News

Japanese Wheat Prices May Rise 10 Percent on Global Rates, Official Says

(Bloomberg) -- Japan's domestic wheat prices may
rise around 10 percent this year, the first annual gain in 24
years, hurting noodle makers which may not be able to pass on
the higher cost to customers.

The government may allow the increase as it seeks to bring
local prices more in line with world markets and after futures
in Chicago, the world benchmark for the commodity, soared to a
record, Hirotaka Mori, an agriculture ministry official who
oversees import policy, said in an interview in Tokyo.


Read more at Bloomberg Commodities News

America Movil, Cosan, Femsa and Randon May be Active: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile and Mexico today.
Symbols are in parentheses after the company name, and stock
prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Dow Jones family owners face deadline on bid: source

(Reuters) - Rupert Murdoch's News Corp., owner of Fox News, the New York Post and a sprawling global media empire, made its $60 a share bid for Dow Jones, the publisher of the Wall Street Journal, on May 1.




The board of Dow Jones endorsed the offer two weeks ago, sending the deal to the Bancroft family for approval.


Read more at Reuters.com Mergers News

TIPS Prove Poor Tip for Bond Traders Anticipating Inflation's Acceleration

(Bloomberg) -- Treasury investors say inflation is
abating, even if the oil bulls are right and crude heads to $100
a barrel.

Pacific Investment Management Co. and Fidelity Investments
sold Treasury inflation-protected securities maturing next year,
confident that consumer prices will remain in check. Money
managers lost as much as $275 million on so-called TIPS in the
second half of 2006 because oil fell from record highs and
gasoline prices dropped.


Read more at Bloomberg Bonds News

Japan's Bonds Decline as Investors Avoid Yields Near Lowest in Eight Weeks

(Bloomberg) -- Japan's government bonds fell on
speculation investors will avoid buying 10-year securities with
the lowest yields in eight weeks.

The yield on the benchmark 10-year bond rose 2 basis points
to 1.8 percent as of 12:48 p.m. in Tokyo at Japan Bond
Trading Co., the nation's largest interdealer debt broker.
Yields earlier touched 1.78 percent, matching the lowest since
June 1.


Read more at Bloomberg Bonds News

Indian Oil Seeks to Buy Crude Oil for Loading in Late September or October

(Bloomberg) -- Indian Oil Corp., the country's
biggest refiner, is seeking to buy crude oil for loading in late
September or October, said traders who received offer documents.

Details of the refiner's planned purchase are as follows:


Read more at Bloomberg Energy News

Japan Shares Fall on U.S. Subprime Concern, Ruling Party's Election Defeat

(Bloomberg) -- Japanese stocks dropped after U.S.
residential investment slumped, raising concern the world's
largest economy will slow and Japan's ruling party lost control
of the upper house of parliament in an election.

Sony Corp. slid by the most since June 8 and Nintendo Co.
extended its two-day loss to 8.7 percent, leading exporters
lower after the yen advanced to the highest against the dollar
in more than three months, reducing the value of their overseas
sales.


Read more at Bloomberg Stocks News

Japan's JBIC Plans Islamic Debt Backed by London Metal Exchange Contracts

(Bloomberg) -- Japan Bank for International
Cooperation, the government's main overseas lender, plans to sell
Islamic bonds backed by products traded on the London Metal
Exchange, an official said.

The Tokyo-based bank, known as JBIC, plans to sell Islamic
debt for the first time as early as in October, said Tadashi
Maeda, director general of the bank's energy and natural
resources finance department. JBIC will sell $200 million to $300
million of such securities, to be denominated in Malaysian
ringgit or dollars, in Malaysia, he said.


Read more at Bloomberg Bonds News

Oil down on profit taking

(Reuters) - U.S. crude for September delivery fell 32 cents to $76.70 a barrel in Globex electronic trading by 0130 GMT, trimming just a whisker of Friday's $2.07 or 2.76 percent surge that took oil to just one cent shy of its record-high settlement price of $77.03, marked on July 14, 2006.




London's Brent crude , which lagged the U.S. market with a gain of $1.08 on Friday, fell 44 cents to $75.82 after reverting last week to trade below U.S. crude, on signs of lower crude stocks in Oklahoma and recovering North Sea oil production.


Read more at Reuters.com Hot Stocks News

PetroChina's Shares Fall After Buffett's Berkshire Pares Stake in Company

(Bloomberg) -- Shares of PetroChina Co. fell after
Warren Buffett's Berkshire Hathaway Inc. reduced its stake in the
nation's biggest oil producer.

The stock dropped 4.4 percent to HK$11.24 at 10:29 a.m. in
Hong Kong, headed for its biggest two-day decline since August
2005. Berkshire sold 16.9 million shares for $27 million,
PetroChina said in a July 27 filing to the city's stock exchange.


Read more at Bloomberg Emerging Markets News

Barclays China Deal Spurs U.S., Europe to Limit Government-Fund Investment

(Bloomberg) -- The U.S., France and Germany are
racing to draw up rules to govern developing nations' secretive
state-controlled investment funds, spurred in part by Barclays
Plc's use of Chinese and Singaporean money in its takeover bid
for ABN Amro Holding NV.

With no international body such as the World Trade
Organization to oversee such investment, officials in the U.S.
are pushing the International Monetary Fund and World Bank to set
guidelines. Germany and France, meanwhile, are urging a joint
European response.


Read more at Bloomberg Emerging Markets News

Apache Plans to Triple Australian Oil, Gas Spending to $1 Billion by 2008

(Bloomberg) -- Apache Corp. plans to triple spending
in Australia next year from 2006 as it steps up drilling and
construction in a region that may rival Egypt and the U.S. Gulf
as the company's main oil and gas producers.

Capital investment in drilling and exploration will probably
reach $1 billion next year, up from about $300 million in 2006,
said Tim Wall, managing director of Houston-based Apache's
Australian unit.


Read more at Bloomberg Energy News

Payrolls, Wages, Manufacturing Likely Grew in July, Tempering Housing Woes

(Bloomberg) -- Payrolls, wages and manufacturing in
the U.S. expanded in July, pointing to an economy that is
surviving a deepening slump in housing, economists project
reports this week will show.

Employers added 130,000 workers to payrolls this month,
about the same as in June, according to the median estimate of
economists surveyed by Bloomberg News ahead of a Labor
Department report Aug. 3. A private report Aug. 1 may show
manufacturing grew at close to the fastest pace in more than a
year.


Read more at Bloomberg Stocks News

Data Don't Support Sarkozy Gripes About Euro Impact on Region's Exports

(Bloomberg) -- French President Nicolas Sarkozy
complains the euro's increase to a record against the dollar is
hurting European exports. So far, the numbers don't back him up.

Shipments from the 13-nation euro area rose 9 percent in
the five months through May from a year earlier, the second-
fastest pace in six years. That's because the euro has increased
less than half as much against the currencies of the region's 24
biggest trading partners as it has against the U.S. dollar.


Read more at Bloomberg Currencies News

Japan Shares Fall on Ruling Party's Election Defeat, U.S. Subprime Concern

(Bloomberg) -- Japanese stocks dropped after
Japan's ruling party suffered a worse-than-expected electoral
defeat and U.S. residential investment slumped, raising concern
the world's largest economy will slow.

Sony Corp. slid and Nintendo Co. extended its two-day loss
to 9.6 percent, leading exporters lower after the yen advanced
to the highest against the dollar in more than three months,
reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

Asian Stocks Drop to One-Month Low on U.S. Housing Concern, Japan Election

(Bloomberg) -- Asian stocks fell, extending a $2.1
trillion global rout, on speculation the world's largest economy
will slow after a report showed a slump in U.S. housing investment.

Toyota Motor Co. and James Hardie Industries NV led declines
among companies that rely on U.S. sales. Canon Inc. and Nintendo
Co. paced a drop by Japanese exporters after the yen strengthened
against the dollar, eroding the value of their overseas sales.


Read more at Bloomberg Stocks News

Australian Shares Extend Drop on U.S. Housing Concern; James Hardie Falls

(Bloomberg) -- Australia's benchmark stock index,
the S&P/ASX 200 Index, fell 0.08 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange fell 4.70 to 6,078.20. Among the stocks in the index, 32
rose, 160 fell and 9 were unchanged.


Read more at Bloomberg Stocks News

Japan's Government Bonds May Rise on Concern Stocks to Decline on Election

(Bloomberg) -- Japan's bonds may advance for a
fourth day after the ruling coalition of Prime Minister Shinzo
Abe lost its upper house majority at elections, fueling
speculation that stocks will drop and spur demand for debt.

Benchmark bond yields, which move opposite to prices, are
also likely to extend their slide past an eight-week low after
the election results increased speculation the Bank of Japan
will hold off raising interest rates next month.


Read more at Bloomberg Bonds News

Japan's Nikkei 225 Stock Average, Topix Fall; Toyota and Canon Lead Drop

(Bloomberg) -- Japan's Nikkei 225 Stock Average
fell 171.71, or 1 percent, to 17,112.10 at 9:02 a.m. in Tokyo.
The broader Topix index dropped 16.48, or 1 percent, to
1,683.23.

Toyota Motor Corp. and Canon Inc. led the declines.


Read more at Bloomberg Stocks News

Exporters, Hana Financial, Hynix, Hyundai: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or
fall in South Korea. Prices refer to the July 27 close. This
preview includes news announced after markets shut. Stock
symbols are in brackets after the company names.

The Kospi index plunged 4.1 percent to 1,883.22, the
steepest fall since June 3, 2004. The Kosdaq slid 3.1 percent to
792.06. Kospi 200 futures expiring in September retreated 4.5
percent to 237.85, while the underlying index lost 4.2 percent
to 238.34.


Read more at Bloomberg Stocks News

James Hardie, Santos, Woodside, Westfield: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview
includes news announced after markets closed on July 27. Prices
are from July 27's close unless otherwise stated. Stock symbols
are in brackets after the company names.

The S&P/ASX 200 Index futures contract due in September
slumped 1.2 percent to 5990 at 6:59 a.m. in Sydney. The Bank of
New York Australia ADR Index dropped 5 percent in New York.


Read more at Bloomberg Stocks News

Venezuela `Oil Socialism' Boosts Government Income by $5.8 Billion a Year

(Bloomberg) -- Venezuela's bid to nationalize its
energy industry has boosted government income by $5.8 billion a
year, fueling a new form of ``oil socialism,'' President Hugo
Chavez said.

The extra $5.8 billion, equal to 11 percent of Venezuela's
official 2007 budget, came through tax and royalty increases
phased in since 2004. The seizure on May 1 of four foreign oil
joint ventures in the country's eastern Orinoco Belt will provide
additional funds, he said.


Read more at Bloomberg Energy News

Strauss-Kahn lobbies South Africa for IMF candidacy

(Reuters) - Backed by European Union states, Strauss-Kahn, a former
finance minister, is seeking wider support at a time when many
developing countries are questioning a past practice under
which a European heads the IMF and an American heads the World
Bank.




His meeting in Pretoria was all the more important since
South Africa, which chairs the Group of 20 forum that includes
developing countries, had previously said it was disappointed
that the EU nomination of a candidate without more consultation
with others of the 185 countries that are members of the IMF.


Read more at Reuters.com Bonds News

Paulson Rejects Criticism, Says Talks With China Have Led to Stronger Yuan

(Bloomberg) -- U.S. Treasury Secretary Henry
Paulson, rejecting claims in Congress that he's too soft on
China, said negotiations rather than sanctions have led to a
faster appreciation of the yuan.

``We are getting results through this process that wouldn't
have been achieved without it,'' Paulson told reporters as he
traveled to China, where he arrived late yesterday. The Chinese
currency's ``rate of appreciation has gone up materially over
the past year,'' he said.


Read more at Bloomberg Emerging Markets News

UPDATE 1-American Home Mortgage says faces margin calls

(Reuters) - The company said in a statement released late Friday that
as a result of the margin calls from lenders, it has delayed
paying dividends on its common stock, and plans to delay
payments on its preferred shares.




Margin calls can create severe difficulty for a company
that depends on funds from its lenders to finance loans, and
can force the company to sell assets or seek other financing.


Read more at Reuters.com Bonds News

OPEC not expected to discuss output change: Iran

(Reuters) - "There is a long time until then but if the market situation remains as now Iran will not have the view to increase production," Vaziri-Hamaneh said.




He also said the amount of oil reserves and production was high and that the Organization of the Petroleum Exporting Countries would therefore not hold an emergency meeting before the Vienna meeting.


Read more at Reuters.com Business News

ABN set to drop Barclays recommendation: sources

(Reuters) - ABN's managing and supervisory boards met on Friday and over the weekend, and an update on the takeover is expected alongside the bank's quarterly earnings, due to be published on Monday.




The Dutch bank's management originally supported Barclays, but the revised bid from the British bank no longer included the ABN boards' recommendation.


Read more at Reuters.com Business News

Egypt's indexes decline as CIB and OCI slide

(Reuters) - Egyptian indexes fell on Sunday as foreign investors sold big caps including Commercial International Bank (CIB) and Orascom Construction Industries (OCI), brokers said.

"The decline in nearly all global markets led stocks with more foreign interest to go lower, creating a general bearish mood as buyers generally shied away," Mohamed Radwan of Delta Securities said.


Read more at Reuters Africa

Egypt median o/n interbank rises to 8.7625 pct

(Reuters) - The median overnight interbank rate on Egypt's pound rose to 8.7625 percent on Sunday from 8.754 percent on Thursday, with the market liquid in the absence of auctions of certificates of deposits, dealers said.

"Many banks were offering money as they have a lot of liquidity available. I believe this will not change soon," one dealer said.


Read more at Reuters Africa

Egypt's Alcotexa sells 2,965 T of cotton in two weeks

(Reuters) - The Alexandria Cotton Exporters' Association (Alcotexa) said on Sunday it had committed to sell 2,965.32 tonnes of cotton in the two weeks ended July 28.

An Alcotexa official broke down the sales included 0.66 tonnes of Giza 45, 661 tonnes of Giza 70, 0.66 tonnes of Giza 87, 604 tonnes of Giza 88, 1,355 tonnes of Giza 86, 275 tonnes of Giza 80 and 69 tonnes of export type.


Read more at Reuters Africa

Suez Canal expansion running behind schedule

(Reuters) - A project to deepen the Suez Canal is running behind schedule because an unexpected increase in traffic has hampered dredging work, the chairman of the Suez Canal Authority said on Saturday.

The authority had hoped to complete the work by the end of 2006, making the canal 66 feet (20.1 metres) deep instead of 62 feet and opening the waterway to more giant vessels.


Read more at Reuters Africa

Asian Stocks Have Worst Week in a Year on Housing Concern; Samsung Drops

(Bloomberg) -- Asian stocks had the biggest weekly
drop in a year as U.S. reports heightened concern that a housing
slump is spreading in the world's biggest economy. BHP Billiton
and Samsung Electronics Co. led the slide.

``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages
the equivalent of $11.4 billion. ``If the U.S. is under question,
there might be a broader contagion.''


Read more at Bloomberg Stocks News

Deripaska eyes Ford's Land Rover, Jaguar: report

(Reuters) - The magazine quoted a spokeswoman for the GAZ Group as saying: "We have already announced before that we are interested in growing through mergers and acquisitions."




Another firm owned by Deripaska, Basic Element, agreed in May to invest $1.54 billion in Canadian auto parts supplier Magna .


Read more at Reuters.com Business News

Rupee rise may hurt Indian tea exports - minister

(Reuters) - Indian tea exports are likely to be hurt by the rupee's strength against the dollar, the junior trade minister said on Saturday.

"Indian tea exports have undoubtedly come under pressure due to the appreciation of the rupee," Jairam Ramesh told reporters in Kolkata.


Read more at Reuters Africa

India's Grasim Q1 net up 64 pct, beats forecast

(Reuters) - Indian cement companies are running plants at full capacity
to feed the fast expanding economy and producers have pledged to
add another 100 million tonnes of capacity by 2009/10 to the
existing 177 million tonnes a year.




Grasim said this could mean a surplus in cement supply by
mid-2008/09, but expected a strong growth in demand would
mitigate the pressure from additional supply.


Read more at Reuters.com Market News

Nigerian interbank rates dip on more cash inflows

(Reuters) - Nigerian interbank interest rates dipped at the short-end of the money market to 6.0 percent on average this week from 7.0 percent previously due to the inflow of more public sector funds, dealers said on Friday.

The secured Open Buy Back (OBB), call money and overnight placement all closed at 6.0 percent after the balance of monthly budgetary allocations to government agencies were disbursed.


Read more at Reuters Africa

South African Rand Posts Biggest Weekly Decline in 5 Months on Global Risk

(Bloomberg) -- South Africa's rand had its biggest
weekly slide against the dollar in almost five months as global
stocks slumped and investors sold emerging-market assets.

The rand also dropped against the yen and the Swiss franc
as investors sold South African stocks and bonds to unwind so-
called carry trades. Government debt declined for a third week
as traders raised cash to pay back loans in yen and francs used
to fund purchases of emerging-market securities.


Read more at Bloomberg Emerging Markets News

India's Tata may begin Jaguar due diligence-paper

(Reuters) - A spokesman for Tata declined comment.




Tata and its local rival Mahindra & Mahindra Ltd.
, along with U.S. buyout firms TPG [TPG.UL] and
Ripplewood, were among those that have expressed interest in
the marques, a person familiar with the matter said on
Thursday.


Read more at Reuters.com Mergers News

PRESS DIGEST - Washington Post Business - July 28

(Reuters) - WASHINGTON - Wall Street heard good news about the economy
but didn't pay it much heed: The Dow Jones industrial average
shed an additional 200 points to finish its worst week in more
than four years, potentially creating a snowball effect that
could continue next week.




---


Read more at Reuters.com Bonds News

UPDATE 1-Grupo Mexico 2nd-qtr net profit up 48.6 pct

(Reuters) - Earnings before interest, tax, depreciation and
amortization rose 54 percent to $1.234 billion.




Grupo Mexico also said that its board
approved a dividend of 1 peso per share which will be paid in
one exhibit starting September 3.


Read more at Reuters.com Market News

Judge denies MercExchange injunction in eBay case

(Reuters) - The ruling by the Norfolk, Virginia-based court came after the U.S. Supreme Court remanded the case back to the lower court in May of 2006, saying that the district judge must scrutinize patent cases closely before issuing an injunction barring companies from using infringing technologies.




But Judge Jerome Friedman denied eBay's request to stay proceedings on one of the two patents in the case -- governing the so-called 'Buy It Now' feature -- saying that the U.S. Supreme Court ruling had no impact on a 2003 jury verdict that could result in eBay paying $25.5 million in damages.


Read more at Reuters.com Business News

Bally noteholders agree to Chapter 11 reorg. plan

(Reuters) - The shareholders -- four private equity funds -- have
outlined a different restructuring plan for the ailing company
and had agreed to complete due diligence by July 20, the
Chicago-based company said earlier.




Bally said health club operations and memberships will
remain unaffected through the process.


Read more at Reuters.com Bonds News

UPDATE 1-Canfor posts loss, names Shepard new CEO

(Reuters) - The company cited low lumber prices and the stronger
Canadian dollar as driving it to a net loss of C$38.8 million
, or 27 Canadian cents a share, in the quarter.




That compared with a net profit of C$39.2 million, or 28
Canadian cents a share, in the same period last year. Those
results were boosted by one-time items.


Read more at Reuters.com Market News

Data, earnings loom after painful week

(Reuters) - The Standard & Poor's 500 and Dow Jones industrial average ended trading on Friday at the week's lowest levels, mark the worst one-week percentage drop for the S&P 500 in nearly five years and the gloomiest on the Dow in five months.




As investors ponder their dwindling returns on the year, big events in the week ahead include the government's sometimes unpredictable payrolls report and quarterly earnings from heavy-hitters such as General Motors and Walt Disney Co..


Read more at Reuters.com Hot Stocks News

Wall St Week Ahead: Data, earnings loom after painful week

(Reuters) - The Standard & Poor's 500 and Dow Jones industrial average
ended trading on Friday at the week's lowest levels, mark the
worst one-week percentage drop for the S&P 500 in nearly five
years and the gloomiest on the Dow in five months.




As investors ponder their dwindling returns on the year,
big events in the week ahead include the government's sometimes
unpredictable payrolls report and quarterly earnings from
heavy-hitters such as General Motors and Walt Disney
Co..


Read more at Reuters.com Economic News