Indonesian Rupiah Says Lower After Central Bank Cuts Rates a Quarter Point

(Bloomberg) -- Indonesia's rupiah stayed lower after
the central bank cut interest rates.

Bank Indonesia, as expected, reduced its benchmark rate by a
quarter-percentage point to 8.25 percent to accelerate economic
growth after inflation eased. It was the 13th cut since May last
year.


Read more at Bloomberg Currencies News

Indonesia's Central Bank Cuts Policy Rate for 13th Time to Increase Growth

(Bloomberg) -- Indonesia's central bank cut its
policy interest rate for the 13th time since May last year to
accelerate economic growth after inflation eased.

Bank Indonesia Governor Burhanuddin Abdullah reduced the
rate used as a reference for bill sales by a quarter of a
percentage point to 8.25 percent, the lowest since the measure
was introduced in July 2005. Ten of 16 economists surveyed by
Bloomberg expected the move.


Read more at Bloomberg Emerging Markets News

Gold little changed, but supported by oil prices

(Reuters) - Gold was little changed on Thursday as traders adjusted positions following gains this week, with precious metals in general supported by lingering security concerns and strength in energy prices.

Japanese gold futures edged up, but traders were reluctant to take large new positions ahead of monetary policy meetings by the Bank of England and European Central Bank later in the day.


Read more at Reuters Africa

UPDATE 1-Toyota H1 China vehicles sales rise 77 pct

(Reuters) - Toyota, which competes with Honda Motor Co. and
others, sold 212,000 vehicles in the world's second-largest auto
market during the period, including imports, a company official
told Reuters.




That outpaced 24.6 percent growth for top European auto maker
Volkswagen AG , which entered the China market much
earlier and recorded 431,369 vehicle sales in mainland China and
Hong Kong from January to June.


Read more at Reuters.com Market News

Volvo Plans More China Acquisitions to Tap Demand for Trucks, Excavators

(Bloomberg) -- Volvo AB, the world's third-largest
construction-equipment maker, aims to make further acquisitions
in China as road-building and real-estate projects boost sales
of wheel loaders, excavators and trucks.

``Acquisitions are natural and the most effective way to
expand,'' Lansi Jiang, vice president of Volvo (China)
Investment Co., said in an interview in Shanghai yesterday.
Volvo bought a 70 percent stake in Shandong Lingong Construction
Machinery Co. for 327.5 million yuan ($43 million) in January.


Read more at Bloomberg Emerging Markets News

Telekom Malaysia Gets 98% Acceptance for Islamic Debt Swap, Arranger Says

(Bloomberg) -- Telekom Malaysia Bhd. said 97.5
percent of investors agreed to its offer to accept new Islamic
securities in place of existing conventional debt, according to
the deal's arranger Citigroup Inc.

The acceptances mean Southeast Asia's second-biggest phone
company will convert about 2.93 billion ringgit ($848 million)
of debt into the form of Islamic bonds, Citigroup said in an e-
mail today. The swap will be completed on July 6, the bank said.


Read more at Bloomberg Bonds News

Thai Baht Strengthens on Fund Inflows to Stocks; South Korean Won Declines

(Bloomberg) -- Thailand's baht strengthened to near
the highest in a decade on speculation a stock market rally will
attract more overseas investors.

The baht gained for a sixth day in onshore trading after the
key stock index yesterday climbed to the highest since January
1997. The currency also advanced on optimism rising exports will
boost the current-account surplus.


Read more at Bloomberg Currencies News

Bank of England May Raise Interest Rate to 5.75 Percent to Curb Inflation

(Bloomberg) -- The Bank of England may raise its
benchmark interest rate for the fifth time in a year today to
bring inflation under control, a survey of economists shows.

The nine-member Monetary Policy Committee, led by Governor
Mervyn King, will increase the Bank Rate a quarter-point to 5.75
percent, the highest since April 2001, according to 53 out of 60
economists surveyed by Bloomberg News. The remainder forecast no
change. The bank will announce the decision at noon in London.


Read more at Bloomberg Bonds News

Siemens, Deutsche Boerse, Solarworld and Repower: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index rose 0.1 percent to 8072.78. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. The DAX climbed
0.3 percent to 8075.26 on the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Southwestern Resources, Trilogy Energy, Zincore: Canadian Equity Preview

(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. Stock
symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index fell 4.35, or less
than 0.1 percent, to 14,060.39 in Toronto.


Read more at Bloomberg Stocks News

Monster U.S. online jobs index slips in June

(Reuters) - The index's decline, which is typically seen in July, eased
the year-over-year growth rate to 9 percent, the slowest on
record, the firm said. The dip also suggests renewed moderation
in online demand after five months of growth, Monster said.




"The findings are also consistent with other indicators
pointing to further moderation in the U.S. economy. These
include the recent decline in U.S. consumer confidence and
continued softness in the housing sector," said Steve
Pogorzelski, an executive vice president at Monster.


Read more at Reuters.com Economic News

Yuan Falls as China Government May Want Two-Way Moves to Curb `Hot Money'

(Bloomberg) -- The yuan fell on speculation China is
boosting currency fluctuations to deter so-called hot money
inflows into the country.

China's State Administration of Foreign Exchange last week
said it plans to begin inspection of bank loans to foreigners to
stop illegal inflows. Two-way yuan movements will increase the
potential losses for investors wagering the currency will keep
rising.


Read more at Bloomberg Currencies News

Japan's Government Bonds May Drop as Rally in Stocks Pares Demand for Debt

(Bloomberg) -- Japan's 10-year bonds may decline for
a second day on speculation a gain in stock prices will curb
demand for government debt.

Benchmark bonds are poised to drop as shares advanced for a
sixth day on speculation profit of exporters will increase,
aided by a weak yen. An industry report this week showed U.S.
manufacturing grew at the fastest pace in 14 months, boosting
speculation the world's largest economy is gaining momentum.


Read more at Bloomberg Bonds News

Oil hovers near 10-month high

(Reuters) - London Brent crude currently seen as more representative of global oil prices, eased 5 cents to $73 a barrel at 0158 GMT, after having traded as high as $73.32 a barrel, the highest front month price since late August.




U.S. crude eased 2 cents from its Tuesday close to stand at $71.39, with activity still thin following Wednesday's Independence Day holiday.


Read more at Reuters.com Hot Stocks News

South Korean Bonds Fall as Interest Rates Will Rise; Won Little Changed

(Bloomberg) -- South Korea's government bonds dropped
on speculation the central bank will raise interest rates next
week to prevent surplus cash in the banking system from spurring
inflation. The won was little changed.

Five-year bonds fell for a fifth day as Finance Minister
Kwon Okyu said monetary policy should be aimed at ``controlling
liquidity'' because consumer prices may rise. Exports increased
to a record in June while the nation's current account balance
was in surplus for the first time in three months in May.


Read more at Bloomberg Currencies News

APEC Trade Ministers Meet in Australia to Forestall Collapse of Doha Round

(Bloomberg) -- Commerce ministers from the Asia-Pacific
warned that talks in Geneva to boost worldwide trade and reduce
poverty could be doomed.

U.S. Trade Representative Susan Schwab said an agreement in
the so-called Doha round of talks that didn't promise substantially
increased trade -- a ``low-ambition'' deal -- would likely be
rejected by the U.S. Congress and most other countries in the 150-
member World Trade Organization.


Read more at Bloomberg Emerging Markets News

Nippon Meat Packers to Increase Prices an Average 10 Percent in September

(Bloomberg) -- Nippon Meat Packers Inc., Japan's
largest meat processor, will raise prices on hams, sausages and
other products by an average of 10 percent from Sept. 1.

In a statement posted yesterday on its Web site, the company
said it was raising prices by between 7 and 15 percent because of
increasing raw materials costs, including pork and fuel. The
Osaka, western Japan-based company previously raised retail
product prices in June 2006.


Read more at Bloomberg Commodities News

U.S. Notes Decline After Demand for Safety Wanes on Easing Terror Concerns

(Bloomberg) -- Ten-year Treasuries fell on
speculation investor appetite for riskier securities will
increase after the U.K. reduced its terror alert and the U.S.
July 4 holiday passed without incident.

Notes dropped after stocks gained in Europe and Asia
yesterday, which helped reduce demand for the relative safety of
government debt. New York City stepped up counter-terrorism in
advance of July 4 after authorities in the U.K. arrested seven
on terrorism charges relating to incidents in London and Glasgow.


Read more at Bloomberg Bonds News

Dollar near 26-year low vs sterling

(Reuters) - The Bank of England is widely expected to lift rates by 25 basis points to 5.75 percent after a two-day meeting that ends on Thursday, taking them further above the Federal Reserve's 5.25 percent rate.




Also on Thursday, the European Central Bank and its president, Jean-Claude Trichet, are seen reinforcing expectations for higher rates in the euro zone eventually, while keeping them on hold for now at 4.0 percent.


Read more at Reuters.com Hot Stocks News

Gloucester Coal Shareholders Vote Against $355 Million Xstrata Takeover

(Bloomberg) -- Gloucester Coal Ltd., which is under a
A$391 million ($335 million) takeover bid from Xstrata Plc, said
its shareholders voted against the proposal today.

Gloucester Coal would carry on with a business plan it had
in place prior to the bid, the Sydney-based company said in a
statement to the Australian Stock Exchange.


Read more at Bloomberg Energy News

Japan's Shares Climb for Sixth Day; Sony Gains on Yen, Retailers Advance

(Bloomberg) -- Japanese shares advanced for a sixth
day. Sony Corp. led gains on speculation exporters' profits
increased in the three months ended in June, aided by a weak yen.

Retailers climbed, led by Seven & I Holdings Co. after
companies including Aeon Mall Co. reported higher income in the
first quarter.


Read more at Bloomberg Stocks News

Australia Stocks Advance, Led by BHP Billiton, Rio on Higher Metals Prices

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, rose 0.13 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 8.50 to 6,307.10. Among the stocks in the index, 65
rose, 50 fell and 86 were unchanged.


Read more at Bloomberg Stocks News

Canadian Spot Natural-Gas Price Declines on Moderate Weather, U.S. Holiday

(Bloomberg) -- Natural gas at Canada's largest
trading point fell as moderate weather was forecast for the
country's largest cities and a U.S. holiday lessened demand.

The weather in Toronto is predicted to stay within a normal
range at least until July 6, according to a forecast from
government agency Environment Canada. Temperatures in Montreal,
the country's second-biggest city after Toronto, may reach
24 degrees Celsius (75 degrees Fahrenheit) tomorrow, about
7.7 percent below its range.


Read more at Bloomberg Energy News

European Naphtha Prices for August Drop For First Day in Three on Oil Drop

(Bloomberg) -- European naphtha prices fell for the
first day in three following a decline in crude oil before the
release of U.S. Department of Energy stockpiles data tomorrow.
Propane also dropped.

Naphtha swaps for August fell $5.68, or 0.8 percent, to
$671.37 a metric ton as of 5:05 p.m. in London, according to
energy broker PVM. The August naphtha spread to crude oil
narrowed $1.15 to $1.70 a barrel.


Read more at Bloomberg Energy News

Japanese Government Bonds May Fall for 2nd Day Before U.S. Payroll Report

(Bloomberg) -- Japan's government bonds may decline
before a report tomorrow that is likely to show job creation was
enough to sustain economic growth in the U.S., the nation's
largest export market.

``The upside for government bonds is likely to be
limited,'' said Akitsugu Bandou, a senior strategist at Okasan
Securities Co. in Tokyo, one of the 25 primary dealers that are
required to bid at auctions. People are likely to refrain from
buying before the U.S. jobs report, he said.


Read more at Bloomberg Bonds News

South Korea Is Monitoring Won Near Seven-Month High, Finance Deputy Says

(Bloomberg) -- South Korea is closely monitoring the
foreign exchange market and sees stabilization of currency moves
to be an important task of the government, said Deputy Finance
Minister Kim Sung Jin.

``We'll take measures if we see speculative movements in
the market,'' Kim said in an interview with TBS radio in Seoul.
``It'll be very dangerous to predict won's movement will be one-
sided.''


Read more at Bloomberg Bonds News

LBO Debt Proves Treacherous for Fidelity, Lehman Brothers, IAA-CREF Funds

(Bloomberg) -- The world's biggest bondholders have
had their fill of leveraged buyouts, convinced that increasing
mortgage delinquencies will drag down the U.S. economy and drive
debt-laden companies into default.

TIAA-CREF, which oversees $414 billion in retirement funds
for teachers and college professors, is boycotting some debt
offerings used to finance LBOs. Fidelity International, a unit of
the world's largest mutual fund company, and Lehman Brothers
Asset Management LLC, the money-management arm of the third-
biggest bond underwriter, say they're avoiding debt from buyouts.


Read more at Bloomberg Bonds News

Japanese Shares May Slip on Pre-Election Uncertainty; Shipowners May Drop

(Bloomberg) -- Shares of Japan's best-performing
industry groups this year may drop as investors refrain from
making large bets amid uncertainty over the outcome of a general
election this month and after five consecutive days of gains.

Mitsui O.S.K. Lines Ltd., the country's No. 2 shipping line
operator by sales, may lead marine transport companies lower. A
measure of the stocks climbed 45 percent in 2007 to yesterday's
close. Trading companies which have gained 29 percent this year,
may slip, paced by Mitsubishi Corp.


Read more at Bloomberg Stocks News

Australian Dollar Near 18-Year Peak on the Nation's High-Yielding Assets

(Bloomberg) -- The Australian dollar traded near an
18-year high against the U.S. currency and the strongest in 16
years versus the yen on the nation's higher yielding assets.

Asian stocks rose to a record yesterday, suggesting
investors are prepared to buy higher returning assets overseas.
The currency has advanced 8.8 percent against the U.S. dollar
and 12 percent versus the yen this year as the Morgan Stanley
Capital International Asia Pacific Index of shares gained 11
percent. Australia's 6.25 percent interest rate compares to 5.25
percent in the U.S. and 0.5 percent in Japan.


Read more at Bloomberg Currencies News

Lawson, Diamond City, Snow Brand Milk Products: Japanese Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets tomorrow. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Aeon Mall Co. (8905 JQ): The shopping mall developer said
first-quarter net income rose 6.7 percent to 3.14 billion yen
($25.6 million), with a 15 percent advance in revenue. The stock
gained 110 yen, or 2.9 percent, to 3,970.


Read more at Bloomberg Stocks News

Mexico's Currency Advances After S&P Lifts Country's Credit Rating Outlook

(Bloomberg) -- Mexico's peso rose after Standard &
Poor's this week raised the country's credit rating outlook,
citing prospects legislators will approve a bill to boost the
country's tax collection.

The peso traded near a two-week high as S&P lifted the
outlook to positive from stable. President Felipe Calderon's
success in getting the opposition-controlled congress to pass a
bill in March to cut government spending on pensions raised
expectations he'll garner support for the tax proposal, S&P
said.


Read more at Bloomberg Currencies News

UPDATE 2-Mexico Congress approves central bank deputy chief

(Reuters) - MEXICO CITY, July 4 - Mexico's Congress approved
former banking regulator Roberto del Cueto as a central bank
deputy governor on Wednesday, filling a space on its monetary
policy board that had been empty for months.




Mexico's central bank board is made up of one governor,
currently Guillermo Ortiz, and four deputy governors. All
contribute to the bank's monthly monetary policy decisions.


Read more at Reuters.com Bonds News

UPDATE 1-Mexico consumer confidence index falls in June

(Reuters) - The index showed fewer people felt their own family's
financial well-being had improved in the past year than they
did in May, but more expected it to get better a year into the
future.




Also, fewer people saw Mexico's economy in a healthier
state a year into the future and fewer considered it improved
from a year earlier.


Read more at Reuters.com Bonds News

Mexico Bolsa Gains on Outlook for Tax Legislation; Brazil Stocks Decline

(Bloomberg) -- Mexico's Bolsa index rose for a sixth
day as prospects improved for the passage of a tax measure that
could spur government spending on infrastructure and energy.

The main Bolsa index advanced 93.41, or 0.3 percent, to
32,211.24 as of 3:53 p.m. in New York. Brazil's benchmark Bovespa
index erased a 0.5 percent rally on concern inflation will
prevent the central bank from cutting interest rates.


Read more at Bloomberg Stocks News

Oil Trades Near 10-Month High in New York After Attack on Rig in Nigeria

(Bloomberg) -- Crude oil traded near a 10-month high
in New York after Royal Dutch Shell Plc said militants attacked
its rig in Nigeria, raising concern about further oil-supply
disruptions from Africa's largest producer.

Five expatriate contractors working for Lonestar Drilling
Nigeria Ltd. were taken hostage, said Precious Okolobo, a
spokesman for Shell's Nigerian venture. The attack occurred early
this morning in the Soku field, where the rig was drilling a
well. No production was affected, he said.


Read more at Bloomberg Commodities News

European stocks at two-week closing highs

(Reuters) - Travel and leisure stocks were standout gainers, with hotel
group Accor rallying 10 percent and Intercontinental
Hotel up 4 percent as private equity firm Blackstone
Group agreed to buy Hilton Hotels for about $20
billion plus debt, spurring talk of further industry
consolidation.




The pan-European FTSEurofirst 300 index rose 0.4
percent to 1,620.2, its strongest close since June 20, and up 9
percent so far this year, boosted by corporate takeovers and
strong earnings. The index jumped 16 percent in 2006.


Read more at Reuters.com Mergers News

Platinum Declines as Users May Seek Cheaper Alternatives; Palladium Gains

(Bloomberg) -- Platinum fell in London on speculation
carmakers, the biggest users, will seek cheaper alternatives.
Palladium rose.

Platinum is more than three times the cost of palladium.
Carmakers, the biggest consumers of both metals to reduce
pollution from tailpipes, switched to using more platinum after
palladium prices soared to a record in 2001.


Read more at Bloomberg Commodities News

Hilton Shares Gained Most Since 2005, Options Trading Surged, Before Bid

(Bloomberg) -- Hilton Hotels Corp. shares rose the
most since the end of 2005 before the second-largest U.S. hotel
chain announced its agreement to be acquired by New York-based
Blackstone Group LP for about $20 billion in cash.

Shares of Hilton climbed $2.18, or 6.4 percent, to $36.05
yesterday in New York Stock Exchange composite trading.
Blackstone, the world's biggest publicly traded buyout firm, will
pay $47.50 a share for Beverly Hills, California-based Hilton.


Read more at Bloomberg Stocks News

Oracle faces long, hard road to prove SAP charges

(Reuters) - A day after SAP unexpectedly admitted in a court filing that a subsidiary had improperly downloaded software from Oracle, computer security experts said Oracle would need to do much more to push its case far further.




SAP said on Tuesday its TomorrowNow subsidiary, which provides services for customers using Oracle legacy software, had in some cases carried out "inappropriate" downloads of support materials from an Oracle site using customer log-ins.


Read more at Reuters.com Business News

EU mergers and takeovers (July 4)

(Reuters) - APPROVALS AND WITHDRAWALS:




None


Read more at Reuters.com Government Filings News

Coke CEO says mulls Snapple buy in tea push

(Reuters) - Coke also aims to expand its palette of tea-based drinks
using a revived pact with Nestle and recently met with
officials from the Coke-Nestle joint venture, Beverage Partners
Worldwide, to advance their plans, Isdell said.




"You're going to see more value-added products from the tea
platform," he said.


Read more at Reuters.com Mergers News

Egypt's CASE30 Index hits year closing high

(Reuters) - Egyptian shares continued to rise on Wednesday as the well-watched CASE30 index hit a new closing year high buoyed by optimism in the international equities market and high expectations for Egypt's Orascom Construction, traders said.

Orascom Construction (OCI), which together with Orascom Telecom makes up 50 percent of the CASE30 index, had reached a closing life highs, said Ahmed el Hifnauy of EFG-Hermes.


Read more at Reuters Africa

Corporate Bond Risk May Soar in Europe on Subprime Losses, UniCredit Says

(Bloomberg) -- Corporate bond risk may soar in
Europe as the fallout from the U.S. subprime mortgage defaults
spread, according to UniCredit SpA, Italy's largest bank.

Goldman Sachs Group Inc., the world's biggest securities
firm, yesterday said the value of its collateralized debt
obligations, securities backed by bonds and loans, dropped $1.56
billion, or 29 percent, to $3.79 billion in the second quarter.
Goldman's fixed-income revenue fell 24 percent because of home
loan delinquencies, the New York-based firm bank said in its
quarterly filing with the Securities and Exchange Commission.


Read more at Bloomberg Bonds News

RPT-Big fund firms seen better at retaining top talent

(Reuters) - Speakers at the Fund Forum 2007 in Monaco said the big firms
have changed their remuneration structures following raids on
their top talent by smaller, boutique firms.
Boutique fund firms have increased their assets rapidly in
recent years, often by recruiting big-name managers, whom they
have given autonomy in investment decisions.




Now the bigger companies are fighting back by offering
managers such attractions as equity stakes in the business or a
share of fund revenues.


Read more at Reuters.com Mergers News

Mexico's Bonds, Currency Advance After S&P Raises Country's Debt Outlook

(Bloomberg) -- Mexico's bonds and the peso rose
after Standard & Poor's this week raised the country's credit
rating outlook, citing prospects legislators will approve a bill
to boost the country's tax collection.

The yield on the 30-year maturity denominated in pesos fell
for a third day as S&P lifted the outlook to positive from
stable. President Felipe Calderon's success in getting the
opposition-controlled congress to pass a bill in March to cut
government spending on pensions raised expectations he'll garner
support for the tax proposal, S&P said.


Read more at Bloomberg Bonds News

Mexico's Bonds, Currency Advance After S&P Lifts Country's Debt Outlook

(Bloomberg) -- Mexico's bonds and the peso rose
after Standard & Poor's this week raised the country's credit
rating outlook, citing prospects legislators will approve a bill
to boost the country's tax collection.

The yield on the 30-year maturity denominated in pesos fell
for a third day as S&P lifted the outlook to positive from
stable. President Felipe Calderon's success in getting the
opposition-controlled congress to pass a bill in March to cut
government spending on pensions raised expectations he'll garner
support for the tax proposal, S&P said.


Read more at Bloomberg Currencies News

Canadian Stocks Fall for First Time in Three Days; Potash Shares Decline

(Bloomberg) -- Canadian stocks fell for the first
time in three days, led by Potash Corp. of Saskatchewan Inc. and
Research In Motion Ltd.

The Standard & Poor's/TSX Composite Index declined 10.65, or
0.1 percent, to 14,054.09 as of 9:49 a.m. in Toronto.


Read more at Bloomberg Stocks News

Biofuels to buoy farm prices in next decade: OECD/FAO

(Reuters) - The study, co-written by the Organization for Economic Cooperation and Development and the United Nations' Food and Agriculture Organization , said biofuels would have a major impact on the agriculture sector between 2007 to 2016.




"Bioenergies have become a key factor in the functioning of agriculture markets," Loek Boonekamp, a senior OECD official, told reporters after the release of the study.


Read more at Reuters.com Business News

Canada Stocks Poised to Extend Gains on Buyouts; Telus Shares May Advance

(Bloomberg) -- Canadian stocks may rise for a third
day after Blackstone Group LP's buyout of Hilton Hotels Corp.
spurred more takeover speculation.

Telus Corp. may pace gains in Canada on speculation it will
either seek to top the offer accepted by BCE Inc. from Ontario
Teachers' Pension Plan, or become the target of a buyout itself.


Read more at Bloomberg Stocks News

Mice move in to new New York Times building

(Reuters) - "There are going to be issues . And a very typical issue is mice," said David Thurm, the company's chief information officer who oversaw the building project.




Designed by Italian architect Renzo Piano, the building dominates the skyline on the western side of Midtown Manhattan, its antenna topping out at 1,142 feet.


Read more at Reuters.com Business News