Gold Rises in Asia Amid Speculation That Surging Oil Price to Boost Demand

(Bloomberg) -- Gold traded little changed in Asia
amid speculation that a rise in energy costs will boost demand
for the precious metal as a hedge against inflation. Silver was
unchanged.

The gold price usually moves in the same direction as crude
oil, which traded near a nine-month high in New York as a drop
in U.S. refinery processing rates raised concerns among some
investors about supplies. Oil yesterday rose 2.1 percent.


Read more at Bloomberg Commodities News

Gold extends gains, weak yen lifts Tokyo

(Reuters) - Cash gold extended gains on Friday on steady bargain hunting, which, combined with a weak yen -- hovering at a 4- year low against the dollar -- also helped lift Tokyo futures.

While some dealers said gold's prospect looked a bit brighter since it recovered from a three-month low of $642.90 hit on Wednesday, others were of the view that the precious metal could come under pressure again.


Read more at Reuters Africa

ASM, EADS, Enel, Intercell, MAN, Terna, Shell: European Equity Preview

(Bloomberg) -- The following stocks may rise or
fall in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 added 1.6 percent to 394.29. The
Dow Jones Stoxx 50 Index increased 1.6 percent to 3942.39. The
Euro Stoxx 50 Index, a benchmark for the 13 nations using the
euro, climbed 1.9 percent to 44.85.04.


Read more at Bloomberg Stocks News

Build-A-Bear, Doral, Media General, RAIT, Adoble: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

Adobe Systems Inc. (ADBE US) fell 46 cents, or 1 percent,
to $43.50 in trading yesterday after the official close of U.S.
exchanges. The world's biggest maker of design software said it
expects profit, excluding some costs, of 39 cents to 41 cents a
share in the current quarter. That compares with analysts'
estimates of 39 cents, according to a Bloomberg survey.


Read more at Bloomberg Stocks News

Bombardier and Com Dev International May Be Active: Canadian Equity Previe

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed.
Symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index added 142.47, or
1 percent, to 14,001.99 in Toronto.


Read more at Bloomberg Stocks News

Milling Wheat Futures Surge 5.3 Percent in Paris; World's Biggest Mover

(Bloomberg) -- Milling wheat futures climbed to the
highest in more than six months in Paris, the biggest price
movement of any commodity today.

Milling wheat for September delivery rose 9 euros, or 5.3
percent, to 180 euros ($239) a metric ton as of 12:06 p.m. on
the Euronext.liffe exchange in Paris. Prices have jumped 37
percent this year.


Read more at Bloomberg Commodities News

Eureko and Agis to merge Dutch health businesses

(Reuters) - Dutch unlisted Rabobank [RABN.UL], which received 37.8
percent of Eureko when it merged Rabobank's insurance unit
Interpolis with Achmea in 2005, would also buy new Eureko shares
to prevent dilution of its stake, the Eureko spokesman said.




The deal is subject to regulatory approval by the Dutch
central bank, competition authority and health care authority,
the insurers said in a statement.


Read more at Reuters.com Mergers News

Prisa's Cebrian Considers Changes at Pay-Television Business Sogecable

(Bloomberg) -- Promotora de Informaciones SA,
Spain's largest publicly traded media group, is considering
changes at television unit Sogecable SA because the pay-TV
division would be an attractive investment for phone companies.

``We will do something,'' Chief Executive Officer Juan Luis
Cebrian said yesterday in an interview in his office in Madrid,
where the company known as Prisa is based. ``Time will tell when
and how.'' Prisa controls Sogecable, which owns free-to-air
channel Cuatro and Spain's largest pay-TV company.


Read more at Bloomberg Exclusive News

U.K. Next-Day Power Declines as Spare Generation Gains, Natural Gas Drops

(Bloomberg) -- U.K. power for delivery on the next
working day fell as the expected volume of spare generation
capacity gained and natural-gas costs dropped.

Day-ahead baseload electricity for delivery in the U.K.
declined 20 percent to 22.25 pounds ($43.82) a megawatt-hour,
according to prices on Bloomberg from the energy broker GFI
Group Inc. Baseload power is delivered round the clock.


Read more at Bloomberg Energy News

European Bond Yields Hold Near Five-Year High After May Inflation Report

(Bloomberg) -- European bond yields held near the
highest since August 2002 after a report showed euro region
inflation stayed near the European Central Bank's 2 percent,
fueling expectations of further interest-rate increases.

Benchmark debt fell yesterday after ECB policy maker Erkki
Liikanen said the outlook for economic growth in Europe will be
``positive'' for years. Futures prices show investors are betting
central bank policy makers will lift rates twice more this year.


Read more at Bloomberg Bonds News

Delphi, GM near deal with UAW: report

(Reuters) - The proposal would offer 4,000 UAW workers an unspecified one-time lump sum cash payment in return for accepting lower wages that could range from $14 to $18 per hour. Workers could also take the lump sum and accept early retirement or flow back to GM, the Detroit News said, citing people familiar with the talks.




Delphi, GM and the UAW did not immediately return calls seeking comment.


Read more at Reuters.com Business News

European Stocks Rise on Fed Comments; Michelin, Siemsn, Rio Pace Advance

(Bloomberg) -- European stocks advanced for a second
day, led by exporters and mining companies, after the U.S.
Federal Reserve said the world's largest economy is growing
without spurring inflation and copper prices increased in Asia.

Michelin & Cie. and Siemens AG led an advance by companies
that make at least 20 percent of their sales in the U.S. Rio Tinto
Group, the world's third-biggest mining company, climbed to a
record. Cadbury Schweppes Plc gained on expectations the world's
largest confectioner may get offers for its U.S. drinks unit.


Read more at Bloomberg Stocks News

Prisa's Cebrian Says He's Considering Changes at Pay-TV Business Sogecable

(Bloomberg) -- Promotora de Informaciones SA,
Spain's largest publicly traded media group, is considering
changes at television unit Sogecable SA because the pay-TV
division would be an attractive investment for phone companies.

``We will do something,'' Chief Executive Officer Juan Luis
Cebrian said yesterday in an interview in his office in Madrid,
where the company known as Prisa is based. ``Time will tell when
and how.'' Prisa controls Sogecable, which owns free-to-air
channel Cuatro and Spain's largest pay-TV business.


Read more at Bloomberg Exclusive News

European shares climb ahead of U.S. prices data

(Reuters) - "The positive start is thanks to the good U.S. market performance," said German LBBW bank equities strategist Steffen Neumann, who did not see any Europe-specific factors behind the gains.




The pan-European FTSEurofirst 300 index was up 0.84 percent at 1,593.85 points at 0745 GMT.


Read more at Reuters.com Hot Stocks News

U.K. Pound Extends Decline as Evidence of Slowing Economic Growth Mounts

(Bloomberg) -- The U.K. pound fell for a second day
versus the dollar after a report showed retail sales growth
slowed last month, reinforcing speculation four interest-rate
increases since August are crimping expansion.

Sales growth in Europe's second largest economy slowed to an
annual 3.9 percent last month, from 4.2 percent in April, the
Office for National Statistics said today. A separate report
showed house prices rose at the weakest pace in a year in May.
The data may make it less likely the Bank of England will raise
interest rates, eroding the lure of pound-denominated assets.


Read more at Bloomberg Currencies News

Vietnamese Bonds Have Longest Drop in Two Months; Dong Weakens for 2nd Day

(Bloomberg) -- Vietnamese benchmark bonds fell for a
fifth day, the longest decline in almost two months, on
speculation that banks are cutting purchases.

Yields have risen 10 basis points, or 0.1 percentage point,
from 7.1 percent a week ago as some banks said they sold debt
holdings to meet a central bank requirement for higher reserves.
Lenders typically put excess money in fixed-income securities.


Read more at Bloomberg Bonds News

Glaxo says consumer health unit important to firm

(Reuters) - "We are in regular dialogue with our investors and do listen
to the views they express," a GlaxoSmithKline spokesman
said.




"We continue to believe that Consumer Healthcare is an
important part of GSK providing long-term value through
sustained revenues, new product opportunities and synergistic Rx
to OTC switches, such as the
recent launch of Alli."


Read more at Reuters.com Mergers News

Colgate says fake toothpaste found in 4 states

(Reuters) - The counterfeit toothpaste can be recognized because it is labeled as being manufactured in South Africa, and the company does not import toothpaste to the United States from South Africa.




The packaging also contains several misspellings, Colgate said.


Read more at Reuters.com Business News

French Stocks Rise, Led by Danone, Axa, Air Liquide While Sanofi Declines

(Bloomberg) -- French stocks advanced, paced by
Groupe Danone SA, Axa SA and other companies making part of
their revenue in the U.S. after the Federal Reserve said the
world's largest economy is growing without spurring inflation.

Shares in Air Liquide, the world's second-biggest maker of
industrial gases, rose after analysts at Citigroup raised their
price target on the company.


Read more at Bloomberg Stocks News

Investors Should Cut Holdings of Dow Jones & Co. Shares, UBS Analysts Say

(Bloomberg) -- Investors should reduce holdings of
shares in Dow Jones & Co., the target of a $5 billion takeover
bid by News Corp., because there is no guarantee that the
controlling Bancroft family will accept the offer, UBS AG said.

Brian Shipman, a New York-based analyst at Europe's biggest
bank by assets, lowered his recommendation for the publisher of
the Wall Street Journal to ``reduce'' from ``neutral.''


Read more at Bloomberg Stocks News

Zambia to offer 25 oil, gas blocks in tender - finmin

(Reuters) - Zambia plans to offer 25 blocks for oil and gas exploration in a bidding round for international companies in the next few weeks, the finance minister said on Thursday.

The bidding round, Zambia's first, follows an announcement in October last year that the landlocked southern African country had discovered oil and gas reserves in the northwest of the country bordering oil-producing Angola.


Read more at Reuters Africa

Vattenfall Plans to Increase Production at Its Kruemmel Reactor in Germany

(Bloomberg) -- Vattenfall Europe AG, Germany's
fourth-largest utility, plans to return its Kruemmel nuclear
reactor in Germany to full capacity this weekend, Hamburg-based
spokesman Ivo Banek said.

Vattenfall cut capacity at Kruemmel by 20 percent on June 9
because of cooling-water restrictions. Rain is expected this
weekend, reducing the temperature of the river Elbe, where
Kruemmel is based, Banel said today by phone.


Read more at Bloomberg Energy News

CORRECTED: Dollar scales fresh 4-1/2-year peak vs yen

(Reuters) - A surge in benchmark U.S. yields to five-year highs this week on an upbeat outlook for the economy, has stoked demand for dollar-denominated securities.




"Investors are thinking the economy is doing well as the U.S. stock market has calmed down and they see few signs of inflation," said Koji Fukaya, senior currency strategist at Deutsche Bank in Tokyo. "Unless this trend collapses, the dollar will stay firm."


Read more at Reuters.com Hot Stocks News

Nikkei gains 0.6 pct, Fanuc and exporters up

(Reuters) - Small-cap issues rose, with the Mothers index jumping 5.28 percent and supporting the overall market, while Fujitsu Ltd. climbed 3.9 percent to 883 yen after French stock market watchdog AMF cleared Fujitsu's offer for French computer services group GFI Informatique .




Rate worries continued to keep a lid on the market. A two-day policy meeting by the Bank of Japan will end on Friday.


Read more at Reuters.com Hot Stocks News

Wesfarmers Seeks $10 Billion of Debt for Coles Takeover Bid, People Say

(Bloomberg) -- A buyout group led by Wesfarmers Ltd.,
Australia's biggest home improvement retailer, is seeking to
raise about A$12 billion ($10 billion) to fund an offer for Coles
Group Ltd., said two people with direct knowledge of the matter.

The group met with 11 international and domestic banks in
Melbourne yesterday, the people said, declining to be identified
as talks aren't public. In addition to loans, it plans to sell
bonds in Australia and globally, they said. The debt will be
backed by Coles assets.


Read more at Bloomberg Bonds News

Citigroup Raises 270 Billion Yen in Biggest Bond Sale by Foreign Company

(Bloomberg) -- Citigroup Inc. raised 270 billion yen
($2.2 billion) in Japan's biggest bond sale by a foreign firm,
tapping demand for higher returns than investors can receive from
the nation's companies.

Citigroup's sale included 65 billion yen of 10-year debt
that yielded about 23 basis points more than bonds from Nippon
Telegraph & Telephone Corp. Citigroup and NTT are rated Aa1, the
second-highest level, by Moody's Investors Service.


Read more at Bloomberg Bonds News

U.S. Treasuries Decline, Resuming Six-Week Slump, Before Inflation Reports

(Bloomberg) -- U.S. Treasuries fell, resuming a
six-week slump, before government reports that will probably
show faster inflation.

The benchmark 10-year Treasury note's yield rose 2 basis
points to 5.22 percent. The yield is 14 basis points more than
on two-year government debt, compared with a spread of 1 basis
point a week ago. The Labor Department may say producer prices
excluding food and energy costs increased 0.2 percent in May
from a month earlier, after being unchanged in April, according
to a Bloomberg News survey of economists.


Read more at Bloomberg Bonds News

BOJ starts policy meeting, rates seen on hold

(Reuters) - TOKYO, June 14 - The Bank of Japan looks set to
maintain interest rates unchanged at a two-day policy meeting
that started on Thursday, wanting to wait a while longer to see
if the economy has improved enough to withstand a rate hike.




Financial markets already see a rate hike by September as a
done deal, and will closely scrutinise comments by the bank's
governor, Toshihiko Fukui, for hints on how soon it will happen.


Read more at Reuters.com Bonds News

US stock indexes soar on bond yields' retreat and data

(Reuters) - U.S. stocks jumped on Wednesday, as lower bond yields triggered a rebound in utilities and other shares sensitive to interest rates, while signs of strength in the economy reassured investors.

The Dow posted its best day since July after data signaled strength in U.S. consumer spending and a Federal Reserve report showed no increase in wage pressures while the economy grew last month. That helped lift the shares of industrial companies like 3M and Caterpillar Inc., which also raised its dividend.


Read more at Reuters Africa

Pan-Africa Commodities proposes Africa-wide exchange

(Reuters) - Pan-African Commodities Platform, a Botswana-based company, plans to open Africa's first regional physical and derivatives exchange for commodities trading by mid-2008, its chief executive told Reuters on Thursday.

The exchange plans to establish contracts for metals, agricultural products, energy and commodity price indexes for each sector, Anthony Adendorff said.


Read more at Reuters Africa

Egypt to offer eight gold mining concessions

(Reuters) - Egypt plans to offer eight new gold mining concessions as part of its scheme to revive its precious metal industry, a senior official said on Wednesday.

The Arab world's most populous country, which once considered gold the skin of the gods, is revisiting ancient deposits of the metal -- some of which have not been worked for 2000 years.


Read more at Reuters Africa

Gold rallies from 3-month low, Tokyo futures up

(Reuters) - Spot gold bounced back on Thursday, recovering from a three-month low on bargain hunting, while Tokyo futures rose by 1 percent, helped by a slide in the value of the yen.

Spot gold rose to $650.20/$651.70 an ounce at 0630 GMT from $647.20/$650.70 last quoted in New York.


Read more at Reuters Africa

Steel Partners may buy all Aderans shares -paper

(Reuters) - Aderans has been under pressure from top shareholder Steel
Parters, which owns a 25 percent stake.




Read more at Reuters.com Mergers News

PRESS DIGEST - Wall Street Journal - June 14

(Reuters) - * A hedge fund managed by Bear Stearns Cos. Inc. is
scrambling to sell large amounts of mortgage securities, a
setback for a Wall Street firm known for its savvy debt-market
trading.




* The U.S. Food and Drug Administration is likely to
propose a shift in how it inspects and regulates imported food,
focusing on the biggest potential hazards.


Read more at Reuters.com Government Filings News

China's Factory, Real Estate Spending Probably Rose by 25.4 Percent in May

(Bloomberg) -- China's spending on factories and
real estate probably rose 25.4 percent from a year earlier in
the first five months, underscoring the risk of an investment
rebound in the world's fastest-growing major economy.

The median estimate of 17 economists surveyed by Bloomberg
News compares with a 30.3 percent increase in urban fixed-asset
investment a year earlier. The statistics bureau will release
the figures at 10 a.m. tomorrow.


Read more at Bloomberg Emerging Markets News

Currency Volatility to Rise, Eroding Carry Trade Returns, Goldman Predicts

(Bloomberg) -- Greater fluctuations in the prices of
stocks, bonds and currencies probably will erode profits from one
of the most popular investment strategies in the foreign exchange
market, according to Goldman Sachs Group Inc.

A Goldman index that tracks three-month implied volatility
on options on eight major currency pairs is at 6.03 percent,
after reaching 5.78 percent last week. The record low, set in
November, was 5.54 percent. Implied volatility, which traders
quote as part of setting options prices, indicates expectations
for future price swings.


Read more at Bloomberg Emerging Markets News

Philippines Buys 280,000 Tons of Rice From Vietnamese Exporters at Tender

(Bloomberg) -- The Philippines, the world's biggest
importer of rice, awarded contracts to buy 280,000 metric tons of
the grain, National Food Authority spokesman Rex Estoperez said.

State-run Vietnam Southern Food Corp., the nation's biggest
rice exporter, won a contract to supply 117,000 tons of 25
percent broken rice for $328.99 a ton, Estoperez said. The
company will also supply 25,000 tons of iron-fortified rice at
$348.99 a ton, he added.


Read more at Bloomberg Commodities News

U.S. House Panel Approves Plan to Slow Oil and Gas Drilling Permit Process

(Bloomberg) -- A U.S. congressional panel narrowly
approved a measure opposed by the oil and gas industry because it
delays permits for drilling on federal lands.

The Natural Resources Committee in a 26-22 vote gave the
Interior Department six months to establish a new fee structure
that would likely raise the cost of drilling on federal lands.
The legislation also lengthens by 60 days a mandate in the 2005
Energy Policy Act that the department process permits within 30
days.


Read more at Bloomberg Energy News

Diamonds by Linares, Gemesis May Cut De Beers, Rio Tinto Earnings, Revenue

(Bloomberg) -- It may be time to lighten up on Rio
Tinto Plc and Anglo American Plc, not to mention Petra Diamonds
Ltd. and Firestone Diamonds Plc, if Bryant Linares has anything
to say about it.

The 45-year-old Boston native can replicate in two weeks the
100 million years that nature needs to make diamonds from coal,
and his success may soon cost the world's mining companies $2.5
billion annually.


Read more at Bloomberg Exclusive News

Intel Informs Customers It Will Slash Chip Prices by 50 Percent Next Month

(Bloomberg) -- Intel Corp., the world's largest
chipmaker, plans to slash the price of some processors over the
next three months to regain market share from Advanced Micro
Devices Inc.

The company will cut prices of its Core 2 Quad processor by
50 percent on July 22, according to an Intel document given to
clients. The chips, introduced in November to run servers and the
most expensive personal computers, sell for $530 each, according
to Santa Clara, California-based Intel's Web site.


Read more at Bloomberg Exclusive News

Subprime Lenders `Targeted' Blacks, Hispanics as Regulators Kept Silent

(Bloomberg) -- The U.S. agencies that supervise
more than 8,000 banks haven't censured any of them for violating
fair-lending laws, three years after Federal Reserve researchers
began assembling data showing blacks and Hispanics are more
likely than whites to be saddled with high-priced home loans.

Minorities stand to be hardest hit by rising delinquencies
and foreclosures in subprime loans. While Census Bureau data
show that homeownership rates rose to records among blacks in
2004 and among Hispanics in 2005, they still trail whites by 25
percentage points, and the gap may widen in the current bust.


Read more at Bloomberg Exclusive News

Gold rallies from 3-month low

(Reuters) - However, traders said sentiment for gold was weak and nervous, noting it was trading at a level some 2 percent below the 100-day moving average of about $664.




"Gold is walking a very thin tightrope," said Akira Doi, director at Daiichi Commodities Co. Ltd.


Read more at Reuters.com Hot Stocks News