News Corp, Dow Jones near editorial pact: sources

(Reuters) - A pact to protect the journalistic integrity is seen as the biggest hurdle to Murdoch's unsolicited $5 billion offer to buy the publisher of the venerable Wall Street Journal newspaper and owner of the Dow Jones Newswires.




Advisers for the companies met through the weekend and may be close to an agreement on editorial independence and integrity, the source said.


Read more at Reuters.com Business News

Arbitron, Marchex, Omnicom, Omniture, Stanley Works: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes on U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 11:40 a.m. in New York.

Car rental companies: Hertz Global Holdings Inc. (HTZ US),
Avis Budget Group Inc. (CAR US) and Dollar Thrifty Automotive
Group Inc. (DTG US) were downgraded by Morgan Stanley as
travelers balk at higher car rental prices. The companies'
ratings were cut to ``underweight'' from ``equal-weight'' by
Morgan Stanley analyst Christina Woo. Hertz lost 4 cents, or 0.2
percent, to $25.50. Avis fell $1.38, or 4.7 percent, to $28.10.
Dollar Thrifty dropped $2.28, or 5.4 percent, to $40.18.


Read more at Bloomberg Stocks News

Wheat Rises as Thunderstorms Delay Harvesting of Crops in Oklahoma, Texas

(Bloomberg) -- Wheat rose in Kansas City and
Chicago as rains delayed harvests in parts of Oklahoma and
Texas, hurting yields and grain quality.

A ``daily chance of thundershowers'' threatens crops in
both states, Meteorlogix LLC said. As much as six times normal
rain fell in the past 30 days, according to National Weather
Service data, keeping machinery out of muddy fields. Yields in
some areas aren't as high as they were expected to be before an
April freeze damaged plants.


Read more at Bloomberg Commodities News

Charming Shoppes cuts profit forecast

(Reuters) - The owner of the Lane Bryant and Fashion Bug chains
forecast consolidated comparable-store sales in its retail
stores segment would be flat to down by a low-single-digit
percentage in the second quarter, and flat to up by a
low-single-digit percentage for the year.




Charming Shoppes said it expects full-year earnings of 80
cents to 82 cents a share, down from a previous forecast of 86
cents to 90 cents.


Read more at Reuters.com Business News

U.S. bonds up on safe-haven bid

(Reuters) - Government bonds also got a boost from renewed hopes of a Federal Reserve interest rate cut by the end of the year and more evidence of a weak U.S. housing market.




"It's still a flight-to-quality bid. We still have problems continuing with the subprime CDO market and it's working its way into spreads. People are continuing to have a risk aversion," said Mary Ann Hurley, vice president of fixed-income trading at D.A. Davidson & Co. in Seattle.


Read more at Reuters.com Bonds News

UPDATE 1-Advice to court may clarify ABN takeover battle

(Reuters) - AMSTERDAM, June 25 - The adviser to the Dutch Supreme Court will give his opinion on the sale of ABN AMRO's U.S. unit LaSalle Bank on Tuesday, which could indicate the future of the Dutch bank.



The Supreme Court will publish the advice of Advocate General Vino Timmerman on Tuesday at 0630 GMT, the court said in a statement on Monday. His advice is generally seen as an indication of how the court may rule.


Read more at Reuters.com Mergers News

Martha Stewart shares jump on ad executive hire

(Reuters) - The shares rose 88 cents, or 5.06 percent, to $18.27 in morning trading.




Millard was the chief sales officer at Yahoo, and some analysts have said the move could have a negative impact on Yahoo's advertising business.


Read more at Reuters.com Hot Stocks News

Coffee Plunges to Three-Week Low as Mild Weather Eases Brazil Frost Risk

(Bloomberg) -- Coffee fell to a three-week low in
New York as mild temperatures and dry weather ease concern that
crops may be damaged in Brazil, the world's largest producer.

Temperatures during the next five days will drop as low as
the upper-40s Fahrenheit (9 degrees Celsius), warm enough to
avoid frost, according to Meteorlogix LLC in Woburn,
Massachusetts. Brazil's harvest is from April to October.


Read more at Bloomberg Commodities News

US stock indexes climb on lower bond yields

(Reuters) - U.S. stocks rose on Monday as data on existing-home sales were in line with analysts' forecasts, allowing investors to focus on the recent pull-back in bond yields and the Federal Reserve's policy-setting meeting this week.

General Motors Corp. gave a boost to the Dow after Goldman Sachs lifted its rating on shares of the largest U.S. automaker.


Read more at Reuters Africa

UPDATE 1-US Energy Sys: funding failure may lead to bankruptcy

(Reuters) - The power producer said the capital expenditure
requirements for completion of a planned expansion of its UK
gas assets may exceed the current capital expenditure budget of
$36 million by more than 100 percent.




The company's UK business includes gas licenses for 100,000
acres of onshore natural gas properties located in 6 fields in
North Yorkshire, England. Four of the fields are producers
while two are yet to be developed.


Read more at Reuters.com Bonds News

Nymex Natural Gas Declines on Mild Weather, Ample Inventories in the U.S.

(Bloomberg) -- Natural gas in New York fell a sixth
consecutive session on forecasts for mild weather in key demand
areas and ample supplies in storage.

``We really don't have anything that's going to make a
bullish case for this market right now,'' said Edward Kennedy, a
broker with Commercial Brokerage Corp. in Miami. ``Now we're
testing the lower end.''


Read more at Bloomberg Energy News

Lula says air travel order restored in Brazil

(Reuters) - A work slowdown by controllers, most of them air force
officers, had caused renewed chaos in airports last week.
Hundreds of flights were delayed or canceled, affecting
business travel between the main hubs like Sao Paulo and Rio de
Janeiro in Latin America's largest country.




"In view of this fact of insubordination, I determine that
the air force command put the house in order, do whatever needs
to be done. But we have to keep the airports functioning well,
maintain military discipline," Lula said.


Read more at Reuters.com Bonds News

Cocoa Rallies to 1-Month High as Strike in Nigeria Disrupts Farmer Exports

(Bloomberg) -- Cocoa rose to a one-month high in
New York after a four-day strike in Nigeria, the fourth-largest
producer last year, disrupted exports and renewed concerns that
demand may outpace supply.

The strike will cause ``delayed exports,'' Akinwale Ojo,
the secretary-general of the Cocoa Association of Nigeria, said
June 22. Ports were shut and a fuel shortage prevented farmers
from transporting beans. The International Cocoa Organization
says global demand will exceed supply by 145,000 metric tons
this year.


Read more at Bloomberg Commodities News

Wachovia gets antitrust OK for A.G. Edwards

(Reuters) - Last month, Wachovia said it would buy A.G. Edwards to
create the second-largest U.S. retail brokerage in an effort to
win more business from aging baby boomers.




A.G. Edwards is the largest independent U.S. brokerage,
with 6,618 brokers and $374 billion of client assets. Wachovia
Securities has 8,166 brokers and $773 billion of client
assets.


Read more at Reuters.com Mergers News

Charges expected in US stock lending probe-source

(Reuters) - Federal prosecutors in the Eastern District of New York are
preparing to file criminal charges against about a dozen people
in the case, this person said, with charges likely to be
announced within the next several weeks or possibly sooner.




Reuters, citing another source familiar with the situation,
reported in May that federal prosecutors and the FBI were
conducting a probe involving loans to so-called short sellers.
The investigation began about 18 months ago.


Read more at Reuters.com Government Filings News

U.S. Stocks Rise as Bond Yields Decline; General Motors Leads Advance

(Bloomberg) -- U.S. stocks rose on prospects
General Motors Corp. will overcome demand for higher wages and
after bond yields fell for a second day, easing concern about
higher borrowing costs.

GM, the biggest U.S. automaker, climbed the most in the
Dow Jones Industrial Average after Goldman, Sachs & Co. advised
clients to buy the shares.


Read more at Bloomberg Stocks News

GM shares rise on Goldman Sachs upgrade

(Reuters) - "GM can make a compelling case to UAW members that material wage and benefit cuts are needed," Goldman Sachs analyst Robert Barry said in a research note. "And we suspect members and retirees are increasingly amenable to such cuts."




Barry also said that the "UAW pattern bargaining implies positive read across for Ford ."


Read more at Reuters.com Business News

Mozambique to spend $382 million on electricity upgrade

(Reuters) - Mozambique plans to spend $382 million during the next three years to upgrade its electricity system, seen as key to developing the African nation's small but growing industrial base, its finance minister said on Monday.

In an interview with Reuters, Finance Minister Manuel Chang said almost one million more people, or about five percent of Mozambique's population, would be supplied with power by 2009 under the electrification programme.


Read more at Reuters Africa

Copper Declines for Third Straight Session as Global Inventories Climb

(Bloomberg) -- Copper in New York fell for the
third session in a row after an increase in global inventories
signaled demand may be slowing for the metal used in electrical
wire and plumbing.

Stockpiles in warehouses monitored by the London Metal
Exchange gained 1,200 metric tons, or 1 percent, to 119,025
metric tons. Before today, copper had gained 18 percent this
year as LME inventories fell 36 percent.


Read more at Bloomberg Commodities News

Treasuries Advance on Speculation Losses at Hedge Funds Will Spur Demand

(Bloomberg) -- Treasuries rose amid speculation
hedge fund losses linked to subprime mortgage loans will fuel
demand for the world's safest, most liquid investment.

Other government bond markets also gained after Bear
Stearns Cos. last week offered $3.2 billion in loans to bail out
a hedge fund it managed. U.S. notes remained higher after an
industry report showed sales of previously owned homes fell in
May to the lowest in almost four years.


Read more at Bloomberg Bonds News

Blackstone, Doral Financial, Nvidia, Pier 1 Imports: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes on U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:45 a.m. in New York.

Blackstone Group LP (BX US) fell $1.31, or 3.7 percent, to
$33.75. The private-equity firm may face challenges from higher
taxes and a shrinking field of takeovers, Barron's said, without
citing anyone. Blackstone stock rose $4.06 to $35.06 in its June
22 debut following a $4.13 billion initial public offering.


Read more at Bloomberg Stocks News

Doral Fin'l shares sink as rival bidder drops out

(Reuters) - NEW YORK, June 25 - Doral Financial Corp.
, a Puerto Rico lender trying to avoid bankruptcy, on
Monday said its second-largest shareholder withdrew a takeover
offer, perhaps clearing the way for a buyout led by Bear
Stearns Cos.' private equity arm.




FBOP Corp., a privately held banking company with a 4.6
percent stake in Doral, dropped its unsolicited $610 million
bid to take an 80 percent stake in the San Juan-based lender.


Read more at Reuters.com Government Filings News

Boeing raises plane prices on material costs

(Reuters) - Boeing posted its revised price list on its Web site
on Thursday, showing
an average price increase of 5.6 percent.




Its hot-selling 787-8 Dreamliner, for example, is now
listed at $157 million to $167 million, depending on
configuration. The previous price range was $148 million to
$157.5 million.


Read more at Reuters.com Business News

UPDATE 1-Fannie Mae's portfolio grew 13.8 pct in May

(Reuters) - The retained, or investment, portfolio has shrunk by 2.0
percent so far this year.




Gross mortgage portfolio growth was driven by purchases of
$21.8 billion. Into the month of June, option-adjusted spreads
have continued to widen, the company said in its May monthly
summary.


Read more at Reuters.com Bonds News

Freddie Mac sells $3.5 billion in bills

(Reuters) - The six-month bills were priced at 97.4424 and have a money
market yield of 5.221 percent, and the 12-month bills were
priced at 94.9997 and have a money market yield of 5.220
percent. Settlement is June 26.




The sale was part of Freddie Mac's weekly bill auction, on
Wednesday Freddie Mac will sell $2.5 billion in one-month bills
due July 25, 2007.


Read more at Reuters.com Bonds News

Australia Lifts Forecast for 2008 Farm-Export Earnings on Large Grain Crop

(Bloomberg) -- Australia, the world's biggest wool
exporter and third-largest shipper of wheat, raised its forecast
for farm-export earnings by A$900 million ($764 million) on
optimism of a larger grain crop and higher dairy and beef prices.

The nation may earn A$28.1 billion from sales of commodities
from beef to wool in the year ending June 30, 2008, the
Australian Bureau of Agricultural and Resource Economics said
today in a statement from Canberra. The forecast is 3.3 percent
higher than the bureau's March estimate.


Read more at Bloomberg Commodities News

U.S. investors snap up 30-year Dubai Ports bond

(Reuters) - Both bonds will be listed in London and on the Dubai
International Financial Exchange, a new bourse set up by Dubai's
government to encourage foreign companies to list in the world's
biggest oil exporting region.




Only a quarter of the cash raised by the Islamic bond came
from the Middle East, according to statement, an indication of
the growing global interest in investments that comply with the
religious beliefs of the world's 1.2 billion Muslims.


Read more at Reuters.com Bonds News

Treasuries Advance as Risk Aversion Pushes Government Debt Higher Globally

(Bloomberg) -- Treasuries rose amid speculation
hedge fund losses linked to subprime mortgage loans will fuel
demand for the world's safest, most liquid investment.

Other government bond markets also gained after Bear
Stearns Cos. last week offered $3.2 billion in loans to bail out
a hedge fund it managed. An industry report today is forecast to
show home resales fell last month to the lowest since June 2003.


Read more at Bloomberg Bonds News

Standard Bank buys control of Kenya's CFC Bank

(Reuters) - The Kenyan unit of South Africa's Standard Bank plans to acquire a 60 percent stake in Kenya's CFC Bank, subject to regulatory approval, the two banks said on Monday.

The CFC Bank group, with assets of 40.4 billion shillings at the end of 2006, would be renamed CFC Stanbic Holdings.


Read more at Reuters Africa

Calderon Proves No Fox in Solving Mexican Pension Crisis, Bid to Raise Tax

(Bloomberg) -- A week after taking office in
December, President Felipe Calderon called three cabinet
ministers and several advisers to Los Pinos, his official
residence, for an urgent meeting. Under his predecessor, Vicente
Fox, a plan to rein in out-of-control spending on pensions for
civil servants had languished for five years. Calderon was
coming off a neck-and-neck election in which his main rival,
Andres Manuel Lopez Obrador, had sought to overturn the result
by staging mass street protests.

Looking for a quick victory to build confidence, Calderon
told his aides he wanted to pass a pension bill within the next
four months, according to two officials who participated in the
meeting.


Read more at Bloomberg Exclusive News

Futures point to flat open; housing data eyed

(Reuters) - Dobson Communications Corp.'s stock rose more than 5 percent before the open after the Wall Street Journal online edition said the rural wireless provider was mulling strategic options, including a possible sale.




In addition to existing-home sales data shortly after the open, investors are weighing possible scenarios for this week's Federal Reserve's interest-rate policy meeting.


Read more at Reuters.com Business News

Blackstone, Chevron, Crocs, Nvidia, Salesforce, TXU: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes on U.S. exchanges
today. This preview includes news that broke after exchanges
closed on June 22. Stock symbols are in parentheses after company
names.

Blackstone Group LP (BX US) gained 23 cents, or 0.7 percent,
to $35.29 before the official open of U.S. exchanges. The
private-equity firm may face challenges from higher taxes and a
shrinking field of takeovers, Barron's said, without citing
anyone. Blackstone stock rose $4.06 to $35.06 in its June 22
debut following a $4.13 billion initial public offering.


Read more at Bloomberg Stocks News

Gold, Silver Futures Fall in New York on Speculation Dollar to Strengthen

(Bloomberg) -- Gold and silver fell in New York on
speculation the dollar will strengthen, reducing the appeal of
precious metals as alternative investments.

Gold usually moves in the opposite direction of the
dollar, which today traded higher against a basket of six major
currencies. Before today, gold had gained 3 percent this year,
while the dollar index had fallen 1.6 percent.


Read more at Bloomberg Commodities News

Shareholders Get Poorer as Takeover Boom Rewards Bankers With Record Fees

(Bloomberg) -- The record $2.5 trillion of mergers
so far in 2007 shows no sign of reversing the 15-year trend that
has most shareholders on the losing side of acquisitions while
enriching the executives and bankers who arrange them.

UniCredit SpA shares dropped 10 percent since Italy's
largest bank announced plans in May to buy smaller Rome-based
rival Capitalia SpA for almost $30 billion. U.K. drugmaker
AstraZeneca Plc lost 9 percent of market value after unveiling
its $15 billion bid for MedImmune Inc. two months ago. Sacyr
Vallehermoso SA, the Madrid-based builder, fell 19 percent since
bidding in April for French rival Eiffage SA.


Read more at Bloomberg Exclusive News

Investor morale eases in June on rising energy costs-UBS

(Reuters) - The Personal Dimension of the Index, which measures
optimism about investors' own personal investment portfolios,
decreased 8 points in June to 67 from 75 in May, UBS said.




"As the summer driving season gets started, investors are
clearly noticing the impact of higher gas prices on their
bottom line, which in turn affects sentiment about their
investments," Maury Harris, chief U.S. economist at UBS
Investment Bank, said in a statement.


Read more at Reuters.com Bonds News

Canada's Dollar Approaches Three-Week Low as Price of Crude Oil Declines

(Bloomberg) -- The Canadian dollar approached a
three-week low after prices of crude oil declined.

``Oil is still on people's mind,'' said Stephen Malyon, a
currency strategist in Toronto at Scotia Capital Inc. ``The soft
commodity price is a good reason to explain the decline in the
Canadian dollar today.''


Read more at Bloomberg Currencies News

Blackstone, Crocs, General Motors, Salesforce, TXU: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes on U.S. exchanges
today. This preview includes news that broke after exchanges
closed on June 22. Stock symbols are in parentheses after company
names.

Blackstone Group LP (BX US) gained 34 cents, or 1.3 percent,
to $35.40 before the official open of U.S. exchanges. The
private-equity firm may face challenges from higher taxes and a
shrinking field of takeovers, Barron's said, without citing
anyone. Blackstone stock rose $4.06 to $35.06 in its June 22
debut following a $4.13 billion initial public offering.


Read more at Bloomberg Stocks News

Walgreen profit rises

(Reuters) - Walgreen is on track to surpass its goal of having 7,000 stores in 2010, Chief Executive Jeffrey Rein said in a statement.




Profit was $561.2 million, or 56 cents per share, in the fiscal third quarter, compared with $469.2 million, or 46 cents, a year earlier.


Read more at Reuters.com Market News

S.Africa maize stocks jump on harvest deliveries

(Reuters) - South African maize prices slid on Monday, pressured by losses in Chicago, while data showed that maize stocks jumped as farmers delivered from the harvest.

The stocks surged to 3.501 million tonnes at the end of May from a revised 2.07 million the previous month, the South African Grain Information Service (SAGIS) said in its monthly bulletin.


Read more at Reuters Africa

Zambia Konkola miners reject 15 pct pay rise - source

(Reuters) - Unions leaders for miners at Zambia's Konkola Copper Mines (KCM) have rejected a 15 percent pay rise offered by management and are demanding a 40 percent increase, a management source told Reuters on Monday.

The source said KCM management had declined to award workers more than 15 percent in salaries and wages citing huge expenditure on upgrades at its Nkana Smelter and the new Konkola Deep Mine Project (KDMP), where more than $400 million will be spent to develop the mine.


Read more at Reuters Africa

Petrohawk Energy to sell Gulf Coast division

(Reuters) - Petrohawk also said it plans to form a Master Limited
Partnership with some of its Permian and Arkoma basin
properties. It expects to file a registration statement with
U.S. regulators, during the third quarter, for an initial
public offering of about $150 million to $225 million MLP
units.





Read more at Reuters.com Government Filings News

Walgreen quarterly profit rises

(Reuters) - Analysts, on average, expected the Deerfield, Illinois-based chain to earn 53 cents per share, according to Reuters Estimates.




Walgreen has expanded at a rapid clip, mostly by opening new stores and also by buying small companies. It operated 5,751 stores as of May 31, up from 5,251 a year earlier, and aims to have more than 7,000 stores in 2010. Rival CVS/Caremark Corp. had 6,168 stores as of May 26.


Read more at Reuters.com Business News

Ness Technologies to fund Nesspro Global expansion through debt

(Reuters) - Ness will fund the expansion and other planned acquisitions
through a $50 million credit facility from commercial banks,
the technology services provider said.





Read more at Reuters.com Bonds News

TREASURIES-Bond prices push higher, subprime woes linger

(Reuters) - "It's a continuation of the bid from last week. Equities
are a little bit softer. Traders will continue to assess recent
market activity where credit concerns have manifest in sharply
wider spreads, a flight to quality into Treasuries," said Kim
Rupert, head of global fixed income research at Action
Economics in San Francisco.




The benchmark 10-year Treasury note rose 5/32
in price for a yield of 5.12 percent, versus 5.14 percent late
on Friday.


Read more at Reuters.com Bonds News

Futures point higher on growth optimism

(Reuters) - Dobson Communications Corp. kicked off a fresh round of merger-and-acquisition chatter as the rural wireless provider mulls strategic options, including a possible sale, the Wall Street Journal Online reported.




Dow Jones & Co. Inc. and News Corp. are nearing a pact that would preserve the editorial independence of the Wall Street Journal if News Corp. acquired the media company, according to newspaper reports.


Read more at Reuters.com Hot Stocks News

No job cuts seen in Intel-STMicro memory venture

(Reuters) - TEL AVIV, June 25 - The newly appointed head of Intel Corp. and STMicroelectronics' flash memory joint venture said on Monday no layoffs were anticipated after the companies' activities are combined.



Intel and Franco-Italian STMicro said last month they would hive off their flash memory units and put them together with the backing of private equity firm Francisco Partners.


Read more at Reuters.com Mergers News

CORRECTED - CORRECTED-Compton to acquire Stylus Energy for C$19 mln

(Reuters) - The deal, which includes the assumption of about C$12
million of net debt, represents a 20 percent premium to the
most recent closing price of the common shares of Stylus, the
companies said in a joint statement.





Read more at Reuters.com Bonds News

Emerging-Market Stocks Aren't Worth the Risk as Returns Fade, Lehman Says

(Bloomberg) -- Emerging-market stocks aren't worth
the risk as the shares become expensive and the returns
associated with owning the more volatile assets fade, according
to Lehman Brothers Holdings Inc. strategists.

Economic growth and borrowing costs that are converging
toward levels in developed markets have eroded the prospects for
gains from shares in regions such as Asia, Eastern Europe and
Latin America, the fourth-biggest U.S. securities firm wrote in
a note to investors distributed today.


Read more at Bloomberg Stocks News

UPDATE 1-Reuters Summit-RREEF earmarks a third of funds for Asia

(Reuters) - By Dominic Whiting




SINGAPORE, June 25 - RREEF, one of the world's
biggest property fund managers, will spend at least 30 percent
of its future private equity funds in Asia, with Japan, China
and India its favourite markets, an executive said on Monday.


Read more at Reuters.com Bonds News

Lone Star in talks to sell KEB: paper

(Reuters) - Lone Star sold on Friday a 13.6 percent stake in KEB and two South Korean firms for a total of $2.3 billion.




The fund scrapped a $7.3 billion deal last year to sell KEB to Kookmin Bank amid a legal dispute with regulators over its $1.2 billion purchase of a majority of KEB in 2003.


Read more at Reuters.com Business News

Indonesia's Lippo Plans to Sell Shares in $5 Billion of Real Estate Trusts

(Bloomberg) -- Lippo Group plans to sell shares in
real estate investment trusts that will buy as much as $5 billion
of its Asian assets, freeing up capital to invest in higher-
yielding projects including Singapore residential developments.

The Jakarta-based company, which set up its first property
fund in Singapore last year, plans to sell shares of trusts
backed by shopping malls and office buildings, Chief Executive
Officer James Riady said in an interview yesterday.


Read more at Bloomberg Emerging Markets News

Asian stocks sag, yen under pressure

(Reuters) - European shares were seen also tracking U.S. peers lower with financial bookmakers expecting falls of 24 to 33 points for London's FTSE 100 index , 30 to 44 points for Germany's DAX and 25 to 32 points for France's CAC 40 .




Demand for high-yielding currencies kept the yen pinned near an all-time low versus the euro and a 4-1/2-year low against the dollar. The Bank of Japan, unlike other central banks, was seen in no hurry to raise interest rates.


Read more at Reuters.com Hot Stocks News

Asian Stocks Decline on Concern Over U.S. Home Sales; China Shares Plunge

(Bloomberg) -- Asian shares fell, led by Sony Corp.
and BHP Billiton Ltd., on concern figures this week will show a
drop in U.S. home sales, signaling declining demand in the
region's largest export market.

``Stocks globally take a fall every time there's more bad
news on U.S. housing-related or lending data because there's a
threat that this may spill over into other parts of the
economy,'' said Eric Betts, a strategist at Nomura Australia Ltd.
in Sydney. ``This wouldn't be good for companies that depend on
the U.S. consumer.''


Read more at Bloomberg Stocks News

China's Stocks Decline After Central Bank Chief Repeats Warning of Bubble

(Bloomberg) -- China's stocks slid to a two-week low
in volatile trade after central bank Governor Zhou Xiaochuan said
shares may be overvalued and he can't rule out raising interest
rates. Citic Securities Co. declined.

``Zhou's remarks are damping sentiment on the market and as
a result investors may be selling for fear of further policies,'
said Fan Dizhao, who helps manage about $1.8 billion at Guotai
Asset Management Co. in Shanghai.


Read more at Bloomberg Emerging Markets News