Harmony expects Q4 headline loss between 130-160 cts

(Reuters) - South African gold miner Harmony Gold expects to report headline loss per share of between 130-160 cents per share for the June 2007 quarter, the firm said in a statement on Monday.

Harmony, the world's fifth-biggest gold producer, said it expected to report headline profit of between 20-30 cents per share for the 2007 financial year, compared with a headline loss of 269 cents.


Read more at Reuters Africa

UPDATE 1-Spain's Abengoa buys Brazil's Dedini Agro

(Reuters) - Abengoa made the announcement in a statement to the Spanish
stock market regulator. Dedini Agro grows and processes
sugarcane in Brazil for the production, sale and export of
ethanol and refined sugar.




In a presentation after the announcement, the company
said the acquisition would boost net profit by $2.2 million this
year, by $6.1 million in 2008 and by $46 million in 2015.


Read more at Reuters.com Mergers News

Infineon to cut Qimonda stake to minority by 2009

(Reuters) - By Georgina Prodhan, European Technology Correspondent



FRANKFURT, Aug 6 - German chipmaker Infineon aims to reduce its stake in memory chip unit Qimonda to "significantly below 50 percent" by 2009, if necessary by giving away Qimonda shares to its own shareholders.


Read more at Reuters.com Mergers News

Europe shares down by midday; credit outweighs M&A

(Reuters) - European shares traded down by midday on Monday, led by financial stocks as they bore the brunt of concerns over credit markets and by oil shares, which tracked a fall in crude.

At 1035 GMT, the FTSEurofirst 300 index of top European shares was down 0.4 percent, heading for its eighth day of losses in the last 10 sessions and off 7.7 percent from a 6-1/2 year high of 1,635.58 on July 13.


Read more at Reuters Africa

U.S. Treasuries Decline on Concern Yields Declined Too Far, Too Fast

(Bloomberg) -- Treasuries fell on speculation yields
near the lowest in three months overstate concern that the
weakness in the U.S. subprime mortgage market will spread.

The 10-year note yield rose 2 basis points to 4.7 percent at
7:28 a.m. in New York, according to bond broker Cantor Fitzgerald
LP. The price of 4 1/2 percent notes due May 2017 fell 1/8, or
$1.25 cents per $1,000 face amount, at 98 14/32.


Read more at Bloomberg Bonds News

UPDATE 1-Brazil's Bradesco posts bigger profit in 1st half

(Reuters) - Bradesco, which is based in Sao Paulo, did not immediately
report a breakdown of its second-quarter earnings. The bank
previously reported a net profit of 1.705 billion reais in the
first quarter.




In a statement to Brazil's securities regulator, Bradesco
said its credit portfolio had reached 130.82 billion reais at
the end of June, up 23 percent from a year ago.


Read more at Reuters.com Market News

Swedish Krona Gains on Signs Growth Is Quickening, Interest Rate Outlook

(Bloomberg) -- Sweden's krona rose on expectations
faster economic growth and further interest-rate increases will
make the Nordic currency more attractive to investors.

The Stockholm-based Riksbank, Sweden's central bank, said in
June it will probably lift its benchmark rate twice more this
year bringing it to 4 percent. Gross domestic product growth
quickened to an annual 3.6 percent in the second quarter from 3
percent in the first, the statistics office said last week.


Read more at Bloomberg Currencies News

U.S. Treasuries Are Little Changed on Growth Concern as Stocks Decline

(Bloomberg) -- Treasuries were little changed as
global stocks fell and speculation increased that losses tied to
subprime mortgages will slow economic growth.

Ten-year notes may extend their gains into a fifth week
after the risk of owning corporate bonds rose and a report showed
employers added fewer jobs than expected last month. Investors
increased bets the Federal Reserve will cut interest rates as
soon as October.


Read more at Bloomberg Bonds News

ICI opens books to Akzo after raised $16.3 bln bid

(Reuters) - ICI, the maker of Dulux paints, said the new proposal was 670 pence a share in cash, up from the 650 pence a share it rejected last week.




"The board of ICI has agreed that Akzo can undertake certain limited due diligence, which ICI expects to be completed within a few days," it said in a statement.


Read more at Reuters.com Business News

U.K. Natural Gas Falls on Lower Demand Forecast; Pipeline Flips to Export

(Bloomberg) -- U.K. natural gas costs declined as a
drop in demand prompted a switch in the direction of flows on a
pipeline connecting England with mainland Europe.

Gas for delivery intraday slipped 3.4 percent to 28.25
pence a therm, according to prices on Bloomberg from the broker
ICAP Plc. The day-ahead price fell 2.6 percent to 28.5 pence a
therm. That's equivalent to $5.83 a million British thermal
units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

Akzo Nobel sweetens takeover bid for ICI

(Reuters) - "It would also allow Akzo Nobel to return further cash to
its shareholders," Akzo said, adding that Henkel would pay 2.7
billion pounds , calculated on a cash and debt
free basis, for ICI's adhesives and electronic materials
businesses.




Read more at Reuters.com Mergers News

FTSE dips, tracking Wall St. on credit concerns

(Reuters) - Britain's top share index dipped early on Monday on fresh concerns over global credit markets after Bear Stearns said it was weathering the worst storm in financial markets in more than 20 years.

At 0738 GMT, the FTSE 100 was down 21.1 points, or 0.34 percent, at 6,203.2, having closed 1.2 percent lower on Friday.


Read more at Reuters Africa

U.K.'s FTSE 100 Drops for Second Day; Northern Rock, Rolls-Royce Retreat

(Bloomberg) -- U.K. stocks fell for a second day.
Northern Rock Plc, a mortgage lender, and Rolls-Royce Group Plc,
the world's second-biggest aircraft-engine maker, led the
retreat.

The FTSE 100 Index declined 56.2, or 0.9 percent, to 6168.1
at 8:04 a.m. in London.


Read more at Bloomberg Stocks News

European Government Bonds Advance as Asian Stocks Slide on Subprime Losses

(Bloomberg) -- European government bonds rose for a
second day as Asian stocks slid on concern U.S. subprime mortgage
losses will slow economic growth and drive up global financing
costs.

Gains in bunds pushed benchmark 10-year yields to near the
lowest since May as investors sold riskier assets and sought the
relative safety of government debt. Bear Stearns Cos. ousted Co-
President Warren Spector after credit-market losses and eroding
investor confidence.


Read more at Bloomberg Bonds News

UPDATE 1-India's Pantaloon to add stores, sees group rev $2bln

(Reuters) - MUMBAI, Aug 6 - Pantaloon Retail India Ltd., the
country's top listed retailer, is launching small and large
stores and the group is exploring deals with foreign partners
to take on growing competition, its chief executive said on
Monday.




The group is looking at joint venture opportunities with
foreign firms in the business-to-business segment, similar to
the one it has with U.S. office supplies retailer Staples Inc.
, Kishore Biyani told Reuters.


Read more at Reuters.com Mergers News

Arrow Energy Signs Agreements to Develop Coal Seam Gas Ventures in China

(Bloomberg) -- Arrow Energy NL, an Australian
producer of gas from coal seams, signed two venture agreements
with companies in China's Liaoning province as it seeks to start
production of the fuel in the Asian nation.

The accords with Shenyang Gas Co. and Liaohe Petroleum
Development Co., a unit of China National Petroleum Corp., follow
similar agreements signed over the past weeks, Brisbane-based
Arrow said today in a statement to the Australian Stock Exchange.
Arrow now has seven projects in three geographic regions in the
Asian nation, it said.


Read more at Bloomberg Energy News

IFC Plans Record India Lending as Rising Rates Lure Power, Oil Companies

(Bloomberg) -- The World Bank arm that invests in
companies said funding for India, its biggest recipient, will
surpass last fiscal year's record $1 billion as interest rates
at a five-year high deter companies from borrowing at home.

The International Finance Corp. will commit $500 million of
the funds in the year ended June 30 to infrastructure, focusing
on oil, transportation, power and gas projects, said Anita
George, chief investment officer of the World Bank division that
lends to companies in emerging markets.


Read more at Bloomberg Emerging Markets News

U.K. Pound May Fall as Traders Trim Bets on Further Interest-Rate Increase

(Bloomberg) -- The U.K. pound may fall as investors
lower expectations the Bank of England will raise interest rates
again this year.

Interest-rate futures trading shows investors have scaled
back their forecasts for how high the U.K. central bank will lift
rates on concern borrowing costs at a six-year high of 5.75
percent will begin to slow economic expansion. A report today may
show industrial production growth slowed in June.


Read more at Bloomberg Currencies News

UPDATE 1-Barclays launches $89 bln ABN takeover offer

(Reuters) - The offer period will run from Aug. 7 until Oct. 4,
Barclays said in an offer memorandum published in Dutch
newspapers on Monday.




At current share prices and foreign exchange rates, the
Barclays offer is worth about 34.54 euros per share of ABN.


Read more at Reuters.com Mergers News

Gold Little Changed in Asia as Dollar Weakness Boosts Appeal; Silver Rises

(Bloomberg) -- Gold in Asia was little changed near a
one-week high, supported by investors demand for the precious
metal as an alternative asset after the dollar weakened on signs
the U.S. economy might slow. Silver rose.

Gold usually moves in the opposite direction to the dollar,
which fell to a four-month low against the Japanese yen and also
traded near a record low against the euro today. Speculation that
a slowing U.S. economy may keep the Federal Reserve from raising
interest rates also weakened the dollar and boosted the appeal of
the precious metal as alternative investment.


Read more at Bloomberg Commodities News

UPDATE 3-Bear president resigns; casualty of credit crisis

(Reuters) - NEW YORK, Aug 5 - Bear Stearns Cos
co-President and co-Chief Operating Officer Warren Spector
resigned on Sunday, a casualty of the credit risk crisis at the
investment bank.




Bear Stearns said effective immediately, Alan Schwartz was
the company's sole president.


Read more at Reuters.com Bonds News

Markets drop as worries grow

(Reuters) - "The outlook for today does not look good. On top of the worries about the exposure of funds to credit markets, now we've worries about weak U.S. economic data," said Choo Hee-yeop, deputy general manager of asset management strategy at Korea Investment and Securities.




At 0025 GMT, Tokyo's Nikkei average had slid 1.6 percent with exporters such as Canon Inc., electronics components maker Kyocera and chip-tester maker Advantest Corp. further hit by a firmer yen.


Read more at Reuters.com Business News

South Korea's Shares Fall, Led by Posco, Kookmin, Samsung; Hynix Advances

(Bloomberg) -- South Korean stocks fell, led by
Posco, and Kookmin Bank, on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Samsung Electronics Co. also declined after a power outage
at some production lines of the world's second-largest chipmaker.


Read more at Bloomberg Stocks News

UPDATE 2-Bear president resigns; casualty of credit crisis

(Reuters) - NEW YORK, Aug 5 - Bear Stearns Cos
President and co-Chief Operating Officer Warren Spector
resigned on Sunday, becoming a casualty of a credit risk crisis
at the investment bank.




Spector's departure follows Bear Stearns' assertion on
Friday that it is weathering the worst storm in financial
markets in more than 20 years after a major rating company
warned mortgage credit problems could hurt the investment
bank's profits.


Read more at Reuters.com Bonds News

FEATURE-Takeovers spell end of soccer's Premiership Plc

(Reuters) - But if fans, politicians and newspapers take moral umbrage
at the foreign-led takeovers, few are mourning the end of the
publicly listed club.




Going public became something of a craze for Premier League
clubs in the mid-1990s. At its peak, fans and investors could
buy shares in 10 of the 20 current Premier League clubs.


Read more at Reuters.com Mergers News

ICI tentatively agrees to sweetened Akzo offer--WSJ

(Reuters) - If all goes well, a formal takeover agreement would be
announced by Aug. 9, the deadline set by the UK Takeover Panel,
the paper said.




ICI last week rejected an improved 7.8 billion pound , 650 pence-a-share cash takeover proposal by Akzo and
refused to open its books for due diligence check, saying the
offer undervalued the company. It had also previously rejected
a 600 pence-a-share offer from Akzo in June.


Read more at Reuters.com Mergers News

Netflix shares poised to rally - Barron's

(Reuters) - "At some point, Blockbuster will cry uncle and raise
prices, and Netflix shares will almost certainly rally," said
Barron's in its technology column.




Netflix might also be an acquisition target, notably by
Amazon.com , said Barron's.



Read more at Reuters.com Mergers News

RPT-Wall St Week Ahead: Mortgage stress to spur more volatility

(Reuters) - NEW YORK, Aug 5 - More signs of weakness in the
mortgage market, another surge in oil prices and a Federal
Reserve rate decision could create more turbulence for Wall
Street this week.




Widening fallout from the U.S. housing slump has rattled
credit markets, putting investors on edge about the outlook
for corporate takeovers and share buybacks -- two catalysts of
the market's recent rally to record highs.


Read more at Reuters.com Bonds News

UPDATE 1-Dubai matches Fast Retailing's $900 mln Barneys bid

(Reuters) - DUBAI, Aug 5 - Dubai-based private equity firm
Istithmar raised its offer to acquire Barneys New York Inc.
from Jones Apparel Group Inc. to $900 million on
Sunday, matching a bid by Japan's Fast Retailing Co. Ltd.
.




Istithmar, owned by the government of Dubai, had agreed to
buy the luxury retailer for $825 million before Fast Retailing
entered the fray with a $900 million offer.


Read more at Reuters.com Mergers News

South Africa Oil Companies Improve Pay Offer to Try End Strike, Union Says

(Bloomberg) -- BP Plc, Royal Dutch Shell Plc and
other oil refiners in South Africa improved their wage offer to
local workers in a bid to end a strike that has led to fuel
shortages in Africa's largest economy.

``We can't say yet what the improvement is,'' Welile
Nolingo, secretary-general of the Chemical, Energy, Paper,
Printing, Wood and Allied Workers' Union (CEPPWAWU) said by phone
from Johannesburg today. ``We're still negotiating.''


Read more at Bloomberg Energy News

Barclays' ABN offer period runs until Oct 4 - filing

(Reuters) - The RBS-led consortium's offer is worth 71 billion euros
and 93 percent in cash, while Barclays
65-billion-euros offer is about 38 percent in cash.




ABN shareholders can tender shares under the Barclays offer
from Aug. 7 until Oct. 4, Barclays said in a filing to U.S.
regulator the Securities and Exchange Commission late on Friday.


Read more at Reuters.com Government Filings News

International Power says to buy Trinergy wind farms

(Reuters) - The portfolio comprises five wind farms in Germany and 31 in
Italy, three of which have yet to be constructed.




International Power said the cash element in the deal, which
will be also funded by debt, was 868 million euros.


Read more at Reuters.com Mergers News

US July job growth slowest in five months

(Reuters) - The U.S. unemployment rate rose to 4.6 percent in July as employers added jobs at the slowest rate in five months and the government actually reduced its work force, the Labor Department said on Friday.

In another sign of slowing growth, the Institute for Supply Management reported the service sector grew more slowly in July as its index fell to 55.8 from 60.7 in June.


Read more at Reuters Africa

UPDATE 2-Blaming begins in Minneapolis bridge collapse

(Reuters) - MINNEAPOLIS, Aug 3 - The Minneapolis Fire Chief
said on Friday it was a miracle that only five people had so
far been confirmed dead in the collapse of one of the city's
main road bridges over the Mississippi River.




Minnesota Gov. Tim Pawlenty said outside experts would
review the decisions of state engineers to delay certain repair
work on the heavily traveled 40-year-old bridge, which crumpled
during evening rush hour on Wednesday.


Read more at Reuters.com Bonds News

UPDATE 1-Alaska sets session to revisit disputed oil tax

(Reuters) - ANCHORAGE, Alaska, Aug. 3 - A new oil tax that is
a subject of a wide-ranging Alaska corruption investigation
will get a rewrite at a special legislative session on
Oct. 18, Gov. Sarah Palin said on Friday.




The Petroleum Profits Tax, enacted last year at the urging
of former Gov. Frank Murkowski, has proved less lucrative for
the state than advertised and has been clouded by revelations
about political corruption, Palin said at a Juneau news
conference.


Read more at Reuters.com Bonds News

Berkshire Hathaway profit rises 33 pct

(Reuters) - Operating profit, excluding gains from investments and derivatives, rose 22 percent to $2.51 billion, or $1,625 per share, from $2.05 billion, or $1,331.




Analysts on average had expected profit of $1,460 per share, according to Reuters Estimates.


Read more at Reuters.com Market News

Brazil stocks, currency slide on US credit worries

(Reuters) - The benchmark Bovespa index of the Sao Paulo Stock
Exchange slid 3.37 percent to close at 52,846.38 points, its
worst one-day decline since July 26 when the index lost 3.76
percent amid similar concerns about the U.S. credit market.




Brazil's currency, the real , weakened 1.4 percent to
close at 1.902 per U.S. dollar.


Read more at Reuters.com Bonds News

Ternium says will merge Mexico's Hylsamex and IMSA

(Reuters) - "The coming week I will announce the new organizational
structure of both companies working together as a sole entity from
the managerial standpoint in order to be able to get all the
synergies and all the value creation that we expect to get,"
Novegil said.




In 2005, Ternium bought Mexico's No. 2 steelmaker Hylsamex, or
Hylsa as it is now called on the company Web site. In late July,
Ternium completed its purchase of IMSA, another leading
steelmaker, in an operation valued at some $3.2 billion.


Read more at Reuters.com Mergers News

Monsanto seeks $100 mln damages from Novartis

(Reuters) - CHICAGO, Aug 3 - Biotech crop company Monsanto Co said on Friday it filed an arbitration claim against Novartis AG's Sandoz unit, seeking to recover at least $100 million in damages it says were caused by Sandoz in suppling a Monsanto product.



St. Louis-based Monsanto said it filed a claim against Sandoz in an international arbitration proceeding, arguing Sandoz' failure to meet U.S. Food and Drug Administration quality standards disrupted supplies to Monsanto.


Read more at Reuters.com Government Filings News

TREASURIES-Bond prices extend gains on weak services data

(Reuters) - The benchmark 10-year note was 11/32 higher in
price for a yield of 4.73 percent from 4.75 percent before the
data and 4.77 percent late on Thursday, while the two-year note
_was 5/32 in price for a yield of 4.51 percent from
4.53 percent.




Read more at Reuters.com Bonds News

S&P, Fitch cut Boston Scientific's debt to junk

(Reuters) - Saddled with debt after its $27 billion acquisition of
Guidant Corp. and hampered by slowing sales of its most
lucrative heart devices, the company said in March it was
exploring the partial sale for more than $1 billion.




"Fitch's prior rating for BSX was highly dependent on the
timely paydown of debt with cash proceeds from the potential
divestiture," Fitch said in a statement. "More pressure has now
been placed on BSX's operations, which are currently
challenged, to reduce debt and leverage."


Read more at Reuters.com Bonds News

Mexican markets slip on weak U.S. jobs data

(Reuters) - The benchmark IPC stock index fell 0.81 percent to
30,145 points, while the peso currency slipped
0.10 percent to 10.9680 per dollar.




The price of the benchmark 10-year peso bond fell 0.124 points to bid 101.088 points, with a yield of 7.82
percent.


Read more at Reuters.com Bonds News

US STOCKS-S&P, Nasdaq fall 1 percent on credit worries

(Reuters) - The S&P 500 and the Nasdaq fell more than 1 percent.




The Dow Jones industrial average was down 104.37
points, or 0.78 percent, at 13,358.96. The Standard & Poor's
500 Index was down 19.34 points, or 1.31 percent, at
1,452.86. The Nasdaq Composite Index was down 30.22
points, or 1.17 percent, at 2,545.76.


Read more at Reuters.com Bonds News

Wells Fargo, other lenders curb mortgage loans

(Reuters) - Wells Fargo, the second-largest U.S. mortgage lender, said it is curtailing issuance of "Alt-A" home loans through brokers, while Wachovia has stopped entirely. Wachovia also said one lending unit has temporarily halted its Alt-A production.




Lenders are making fewer home loans once thought to be safe because investors now perceive those loans to be risky. The changes could worsen the U.S. housing slump by putting home ownership beyond the reach of a larger number of Americans.


Read more at Reuters.com Bonds News

European Stocks Drop, Paced by BMW, Philips, Hypo Real Estate, Depfa

(Bloomberg) -- European stocks fell after reports in
the U.S. showed employers added fewer jobs than forecast last
month and growth in U.S. service industries slowed, reigniting
concern the world's biggest economy is cooling.

Bayerische Motoren Werke AG and Royal Philips Electronics NV
paced declines among companies that rely on sales in the U.S. The
Dow Jones Europe Stoxx Oil & Gas Index dropped to the lowest in
three months, led by Total SA and BP Plc after Citigroup Inc.
reduced its recommendation for the oil industry. Hypo Real Estate
Holding AG, the mortgage bank spun off from HVB Group, and Depfa
Bank Plc led financial shares lower.


Read more at Bloomberg Stocks News

Chile's Madeco first-half net profit falls 36.5 pct

(Reuters) -







Read more at Reuters.com Market News

Use Swaptions to bet U.K. Interest Rates Have Peaked, Credit Suisse Says

(Bloomberg) -- Investors should use swaptions to bet
the Bank of England won't raise benchmark interest rates beyond
5.75 percent because inflation has peaked, according to Credit
Suisse.

Prices for swaptions, options on interest rate swaps,
signal traders expect further rate increases. Investors can
profit with swaptions if benchmark rates hold steady, analysts
at Credit Suisse, Switzerland's second-biggest bank, said in a
strategy note.


Read more at Bloomberg Currencies News

UPDATE 1-C-BASS retains Blackstone to seek more capital

(Reuters) - C-BASS faces a liquidity crisis that has forced its two
biggest investors, MGIC Investment Corp. and Radian
Group Inc. , to consider writing down more than $1
billion worth of their investment in C-BASS.




C-BASS said in a statement that it has been working with a
number of investors to resolve its liquidity problems and
create "a long-term partnership."


Read more at Reuters.com Mergers News

Muni Tobacco Debt Has Worst Month Since 2005 in July, A.G. Edwards Says

(Bloomberg) -- Tax-exempt bonds backed by the 1998
national tobacco settlement had their worst monthly performance
in July since late 2005, prompting one borrower to shelve a
scheduled tobacco debt sale and another to sell its offering
sooner than planned on concerns of a further decline.

The extra yield, or spread, investors demand on benchmark
municipal tobacco bonds compared with top-rated municipal debt
widened by 35 basis points, the most in more than 18 months, to
124 basis points, A.G. Edwards Inc. said in a report. Puerto
Rico postponed its $238 million sale July 31, while California's
Riverside County sold a $295 million deal a week sooner than
planned. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Air Liquide says KKR bid talk "barely credible"

(Reuters) - Potier added that Air Liquide had a long-term shareholder
base and highlighted the company's regular earnings growth.




Read more at Reuters.com Mergers News

Fortis seen clearing shareholder hurdle over ABN

(Reuters) - If it does not garner enough support it could spell the end not only to Fortis's ambitions of expanding in the Benelux but also the joint 71 billion euro bid of its consortium partners Royal Bank of Scotland and Spain's Santander .




Fortis will ask shareholders, who have seen their stock drop by almost 18 percent since it confirmed its approach for ABN in April, to back the planned takeover in general and its financing through Europe's second largest rights issue.


Read more at Reuters.com Mergers News

Suit by Bayou hedge fund investor dismissed

(Reuters) - Bayou, which once managed around $400 million, collapsed in
2005 after the discovery of multiple frauds by its managers led
by Sam Israel III and Daniel Marino, both of whom later pleaded
guilty to various charges and await sentencing.




New York-based Hennessee, which is managed by Lee Hennessee
and her husband Charles Gradante, claimed it undertook a
rigorous, five-step due diligence review before recommending
clients invest in any hedge fund.


Read more at Reuters.com Mergers News

Germany faces political pressure over IKB exposure

(Reuters) - KfW, which generally funds development projects, owns 38
percent of IKB and pledged earlier this week to take
responsibility for an 8 billion euro guarantee
given by the troubled lender for now uncertain U.S. investments.




The plan to use state funds to support a bank that got into
trouble by investing in the U.S. subprime mortgage market has
drawn criticism from opposition politicians and a senior finance
policy figure in Chancellor Angela Merkel's conservatives.


Read more at Reuters.com Government Filings News

Global stocks steady after earnings soothe credit nerves

(Reuters) - Almost two weeks of a sell-off in equity and credit markets stemmed from concerns that a fallout in the U.S. housing sector will trigger a broad repricing of risks in a market which enjoyed cheap money and high appetite for high-yielding assets.




But a string of forecast-beating results from major companies, including Allianz , Royal Bank of Scotland and British Airways on Friday, has helped soothe such concerns. Investors are keen to see U.S. jobs data due later in the day for more clues on the strength of the economy.


Read more at Reuters.com Hot Stocks News

Miner Anglo to sell Tarmac

(Reuters) - The copper, platinum and gold specialist said on Friday it made underlying earnings of $3.1 billion in the six months to June 30, broadly in line with analysts' average forecast of $3.2 billion, according to Reuters Estimates, and said the outlook for most of its metals and minerals remained positive.




Read more at Reuters.com Business News

Workers at Vodacom halt strike

(Reuters) - Workers at South African mobile phone operator Vodacom have halted a strike around union recognition and pay, Vodacom said on Thursday.

The Communication Workers Union -- which has around 1,200 members -- went on strike last month after it said Vodacom had refused to recognise it on the grounds that it is too small.


Read more at Reuters Africa

Miners, banks push S.Africa Top-40 index 1 pct up

(Reuters) - South Africa's blue chip Top-40 index gained over one percent in early trade on Friday, boosted by mining and bank stocks as global stock markets recovered.

The Top-40 index rose as much as 1.28 percent to 25,518 points. By 0748 GMT, the index was 0.97 percent firmer at 25,493 points.


Read more at Reuters Africa

S.Africa's Mboweni warns on inflation, hints on rates

(Reuters) - South African central bank chief Tito Mboweni warned on Friday inflationary pressures were "more worrying", hinting interest rates may have to rise again in Africa's biggest economy.

The Reserve Bank governor told parliament's finance committee there was no other instrument to tame inflation except rates, referring to commercial bank reserve requirements and restrictions on credit providers.


Read more at Reuters Africa

S.African stocks slide on global jitters; Lewis up

(Reuters) - South African stocks hit an almost four-month low on Friday as weaker global markets rattled financial stocks but retailer Lewis bucked the trend after it said sales rose and its credit book was in good shape.

The Johannesburg Top-40 index of blue-chip stocks dropped 1.11 percent to 24,915.31 points, its lowest closing level since April 11. The All-share index fell 1 percent to 27,582.01 points.


Read more at Reuters Africa

UPDATE 1-Jobs data show US economy strong-WH's Lazear

(Reuters) - "I think the jobs numbers, although lower than the previous
month, are still within range and we still think of these as
good, solid numbers," Council of Economic Advisers Chairman
Edward Lazear told reporters.




He was speaking after data showed a less-than-expected
92,000 new U.S. jobs were created in July versus a downwardly
revised 126,000 the previous month.


Read more at Reuters.com Economic News

Gold, Silver Rise as Lack of Higher U.S. Interest Rates May Erode Dollar

(Bloomberg) -- Gold and silver rose in New York on
speculation a slowing U.S. economy may keep the Federal Reserve
from raising interest rates, weakening the dollar and boosting
the appeal of precious metals as alternative investments.

Five of the past six bear markets for the dollar have
resulted in a higher gold price. The metal is up 6.7 percent
this year as the dollar has declined to a record low against the
euro. Investment in StreetTracks Gold Trust, an exchange-traded
fund backed by bullion, reached a record 507 tons on Aug. 1.


Read more at Bloomberg Commodities News

Toyota says upward trend in U.S. sales intact

(Reuters) - The highest was July 2006, when industry volumes grew on back of big incentives being offered led by Detroit brands.




He also said U.S. sales incentives on the Tundra pick-up truck were on track to decline.


Read more at Reuters.com Market News

D.Post Q2 tops consensus, may hike FY goal after Q3

(Reuters) - BONN, Germany, Aug 3 - German mail and logistics group Deutsche Post stuck to its full-year earnings goal despite a 10 percent rise in second-quarter operating profit, boosted by its DHL express delivery and logistics units.



Post said it continued to expect 2007 earnings before interest and tax excluding one-off items of at least 3.6 billion euros , up from 3.51 billion last year. Group 2006 EBIT including one-off items was 3.87 billion euros.


Read more at Reuters.com Market News

Telus profit falls on charges, abandons BCE quest

(Reuters) - Net earnings declined to C$253.1 million , or 75 Canadian cents a diluted share. That is down from a profit of C$356.6 million, or C$1.02 a share, in the same period last year. Telus, which confirmed its 2007 financial forecasts, also said it will not make a takeover bid for rival BCE , saying that it can generate growth on its own.






Read more at Reuters.com Market News

U.S. staffing stocks fall after July jobs report

(Reuters) - The U.S. economy added 92,000 nonfarm jobs in July, below the
130,000 expected, and jobs growth in May and June was revised down
slightly. The jobless rate moved up to 4.6 percent, the Labor
Department said.




Jonas Prising, who heads North American operations at Manpower
Inc. , said Manpower's clients are cautious in their
outlook, but they remain optimistic.


Read more at Reuters.com Market News

`Uncle Ted' Stevens's Corruption Probe Imperils Federal Dollars for Alaska

(Bloomberg) -- The federal corruption investigation
of U.S. Senator Ted Stevens not only threatens the career of the
longest-serving Republican in Senate history, it also puts at
risk the billions of dollars that ``Uncle Ted'' steers to
Alaska.

``Republicans, Democrats, everybody still hopes that
nothing has gone wrong here, since he's so important to the
state,'' said Republican State Representative Ralph Samuels, the
majority leader in Alaska's House.


Read more at Bloomberg Exclusive News

Australian, New Zealand Dollars Rise as U.S. Stock Gain Lifts Carry Trade

(Bloomberg) -- The Australian and New Zealand
dollars gained for a second day against the yen as a rally in
U.S. stocks attracted investors to higher-yielding assets funded
by loans from Japan.

The two currencies headed for weekly gains, recovering from
two-month lows, as the Dow Jones Industrial Average had the
first two-day gain in two weeks. New Zealand's 7.75 percentage
point and Australia's 5.75 point interest-rate premium over
Japan make the currencies favorites for so-called carry trades.


Read more at Bloomberg Currencies News

European Carbon Emission Permits Fall as U.K. Natural-Gas Prices Decline

(Bloomberg) -- European Union carbon dioxide permits
fell as U.K. natural-gas prices dropped, making the cleaner-
burning fuel more attractive to power producers.

Permits for December 2008 lost as much as 30 cents, or 1.5
percent, to 20.40 euros ($27.94) a metric ton on the European
Climate Exchange in Amsterdam. They traded at 20.57 euros at
11:13 a.m. local time. That's the second drop in three days.


Read more at Bloomberg Energy News

Carry Trade a `Threat' to Markets, Yen Too Weak, South Korea's Kwon Says

(Bloomberg) -- South Korea's Finance Minister Kwon
Okyu said the yen's weakness isn't justified and that carry
trades based on the Japanese currency threaten to destabilize
global markets.

Borrowing cheaply in Japan to buy assets with higher
returns is ``a potential threat to the international financial
markets and there is a need for a global reaction,'' Kwon said
in a statement after a meeting of Asia Pacific Economic
Cooperation finance ministers in Coolum, Australia.


Read more at Bloomberg Emerging Markets News

CCS Medical sees IPO of 10 mln shares at $14-$16 each

(Reuters) - The company said it had applied for a Nasdaq listing under
the symbol "CCSM."





Read more at Reuters.com Bonds News

EURO CREDIT-Index liquidity seen good despite turmoil

(Reuters) - The iTraxx Crossover index , viewed as a
barometer for European credit sentiment, has this week moved
between 380 and 505 basis points, a huge range that in the
credit market is more likely to be seen over a period of a year
or more rather than a week.




Single-name credit default swap and cash bond liquidity has
suffered, with bid-offer spreads widening sharply and traders
saying little business is being transacted.


Read more at Reuters.com Bonds News

UPDATE 1-US RATE FUTURES-Chances of Fed cuts up on weak job data

(Reuters) - CHICAGO, Aug 3 - U.S. short-term interest rate
futures on Friday boosted the implied chances for Federal
Reserve rate cuts this year after weak July payrolls growth and
a rise in the unemployment rate.




The U.S. Labor Department said 92,000 nonfarm payroll jobs
were created in July, below the median forecast of 130,000. The
July jobless rate inched up to 4.6 percent from 4.5 percent in
June, for its highest since January.


Read more at Reuters.com Bonds News

Japan's Topix Gains as Earnings Ease U.S. Growth Concern; Konica Advances

(Bloomberg) -- Japan's Topix index advanced after
better-than-forecast earnings in the U.S. lifted indexes there
and eased investor concern that the subprime loan problem will
derail growth in Japan's largest export market.

Exporters also got a boost after the yen weakened against
the dollar and companies including Konica Minolta Holdings Inc.
reported rising profits. Konica jumped the most in three weeks.


Read more at Bloomberg Stocks News

U.S. Stock-Index Futures Retreat After Jobs Growth Trails Forecasts

(Bloomberg) -- U.S. stock-index futures declined
after a government report showed employers added fewer jobs than
economists forecast in July and concern grew that credit-market
losses are spreading.

American Home Mortgage Investment Corp., which caters to
borrowers who can't satisfy all the terms of a prime mortgage,
plunged after telling staff it will shut down. Network Appliance
Inc. decreased after the maker of data-storage computers said
profit missed its forecast because big customers cut spending.


Read more at Bloomberg Stocks News

China's Purchasing Managers' Activity Slowed in July, Joint Survey Shows

(Bloomberg) -- Manufacturing activity in China
expanded at a slower pace in July, according to a survey of
purchasing managers released today.

The Purchasing Managers' Index fell to 53.3 from 54.5 in
June, the China Federation of Logistics and Purchasing and the
National Bureau of Statistics said in an e-mailed statement.
That was the lowest reading in five months.


Read more at Bloomberg Emerging Markets News

Bear Stearns Halts Redemptions After Hedge-Fund Investors Seek Withdrawals

(Bloomberg) -- Bear Stearns Cos., manager of two
hedge funds that collapsed last month, halted redemptions from a
third fund after a slump in credit markets prompted investors to
demand their money back.

The Bear Stearns Asset-Backed Securities Fund had about $900
million invested in asset-backed securities, including mortgage
bonds, spokesman Russell Sherman said today in a telephone
interview. The fund was overwhelmed by redemption requests,
Sherman said.


Read more at Bloomberg Bonds News

UPDATE 6-Dow Jones OKs $5 bln sale to News Corp - source

(Reuters) - NEW YORK, July 31 - Rupert Murdoch is set to
achieve his decades-long dream of running the venerable Wall
Street Journal after Dow Jones & Co Inc.'s board agreed
to News Corp's $5 billion buyout bid on Tuesday.




The board decided to accept the offer at a meeting Tuesday
evening, according to a source familiar with the matter,
shortly after News Corp.'s board approved the deal.


Read more at Reuters.com Bonds News

Texas OKs TXU plan to avoid future market abuse

(Reuters) - The plan sets out "clear guidelines" for TXU that will
serve as a defense against future market-abuse charges, said
TXU spokesman Lisa Singleton. The plan sets out power volume,
price formulas and other operational rules for the company,
according to the filing.




Dallas-based TXU has agreed to be acquired by a group of
private equity firms led by Kohlberg Kravis Roberts & Co.
[KKR.UL] and Texas Pacific Group [TPG.UL] for $32 billion.


Read more at Reuters.com Mergers News

UPDATE 1-RenaissanceRe 2nd-qtr profit rises, exceeds view

(Reuters) - RenaissanceRe, which provides backup coverage to property
insurers in case of catastrophe claims, said net earnings were
$183.2 million, or $2.53 per share, up from $130.4 million, or
$1.81 a share, in the year-earlier quarter.




RenaissanceRe said operating earnings, which analysts use
to measure performance because it excludes investments, were
$194.7 million, or $2.69 a share.


Read more at Reuters.com Market News

UPDATE 2-CEO's comments raised at Whole Foods hearing

(Reuters) - WASHINGTON, July 31 - An economist for Whole
Foods Market Inc was forced on Tuesday to grapple with
the past comments of the company's chief executive as he
testified against government efforts to block the acquisition
of Wild Oats Markets Inc .




Whole Foods economist David Scheffman was asked how he
could square his benign view of the merger with the statements
of Whole Foods CEO John Mackey, who told the company's board of
directors in an e-mail the deal would prevent "nasty" price
wars with Wild Oats and head off future competition with
conventional supermarket chains.


Read more at Reuters.com Mergers News

Moody's refines ratings methodology for Alt-A loans

(Reuters) - So-called "Alt-A" home mortgages are held by borrowers who
are rated above the subprime category but below the more
pristine prime borrower.




The rating agency's higher loss estimates are projected to
range from an increase of 10 percent for stronger Alt-A
mortgaeg loan pools to an increase of more than 100 percent for
weaker pools as a result of the revisions.


Read more at Reuters.com Bonds News

MetLife posts sharply higher Q2 net, exceeds view

(Reuters) - MetLife's shares rose modestly in aftermarket trading to $60.50 from their close at $60.22 on the New York Stock Exchange. In the last 12 months, MetLife rose 17 percent compared to an 8 percent gain in the Standard & Poor's insurance index .




MetLife's success as an investor in the second quarter was due in part to joint ventures with hedge funds and private equity. MetLife has said it plans to increase its stake in these joint ventures.


Read more at Reuters.com Market News

Markel posts higher Q2 earnings

(Reuters) - Analysts on average had expected the company to earn $8.59
a share for the quarter, excluding exceptional items, according
to Reuters Estimates.





Read more at Reuters.com Market News

UPDATE 1-AvalonBay second-quarter per share FFO up 18 pct

(Reuters) - The company said funds from operations, or FFO, rose to $94
million, or $1.17 per share, at the top of the range of $1.13
to $1.17 per share the company forecast in April and slightly
ahead of the $1.16 per share, analysts, on average, expected
according to Reuters Estimates.




A year earlier, the Alexandria, Virginia-based company
reported second-quarter FFO of $74.86 million, or 99 cents per
share.


Read more at Reuters.com Market News

Yamana CEO says Meridian takeover bid has support

(Reuters) - Earlier on Tuesday, Meridian recommended its shareholders
reject the bid, saying it did not value the company properly.







Read more at Reuters.com Mergers News

UPDATE 1-Senate Democrats wary on private equity tax hikes

(Reuters) - WASHINGTON, July 31 - Sounding newly cautious on
a sensitive issue for some of America's richest financiers,
four senior U.S. Senate Democrats raised questions on Tuesday
about hiking taxes on private equity firms and hedge funds.




Senate Banking Committee Chairman Christopher Dodd said in
a statement he is "concerned about the potential adverse
effects that these proposals would have on capital formation,
on job creation, and on institutional investors."


Read more at Reuters.com Bonds News

Horizon Lines to offer $300 mln of senior notes

(Reuters) - The company said it expects to use a portion of the net
proceeds to repurchase up to about 1 million shares of its
common stock.





Read more at Reuters.com Bonds News

Amkor profit climbs as debt expenses decline

(Reuters) - Revenue fell to $652.5 million from $686.6 million.




Read more at Reuters.com Market News

UPDATE 1-First Solar posts 2nd-quarter profit vs loss

(Reuters) - Net income was $44.4 million, or 58 cents a share, compared
with a loss of $2.5 million, or 3 cents a share, a year
earlier.




The second quarter included a tax benefit of $39.2 million,
or 51 cents a share.


Read more at Reuters.com Market News

All Nippon, NEC, Hitachi, Mizuho, Mazda, NEC, Ibiden: Japan Equity Preview

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

All Nippon Airways Co. (9205 JT): Japan's largest domestic
carrier said first-quarter net income rose 11-fold to 87.4
billion yen ($736 million) as it sold a group of hotels, masking
a drop in operating profit. The stock slid 3 yen, or 0.7 percent,
to 450.


Read more at Bloomberg Stocks News

UPDATE 1-Auxilium Q2 loss narrows, set to resume Xiaflex trials

(Reuters) - Xiaflex is an injectable enzyme for the treatment of
Dupuytren's contracture, a condition caused when the fibrous
tissue in the palm thickens, causing fingers to curl.




In a statement, the specialty pharmaceutical company said
it plans to resume late-stage trials for Xiaflex in the fourth
quarter.


Read more at Reuters.com Market News

RAIT Financial says American Home has not made payments

(Reuters) - Earlier in the day, American Home, a large U.S. mortgage
provider, said it can no longer fund home loans and may
liquidate assets, putting its survival in doubt.





Read more at Reuters.com Bonds News

Two big LSE investors support Borsa Italiana deal

(Reuters) - The shareholders said in a statement they intend to vote
all the stock they hold in the LSE in favor of the
acquisition.




The LSE said last month it signed a deal to acquire the
Milan exchange for about 1.6 billion euros, the latest in a
series of moves to consolidate the world's exchanges.


Read more at Reuters.com Mergers News

FCC sets wireless sale rules

(Reuters) - That requirement will apply to the 22 megahertz spectrum to be sold to commercial providers and the agency set a suggested $4.6 billion minimum for those airwaves to be sold, according to the FCC.




However, the agency stopped short of a broader requirement sought by potential bidder Google Inc. that would force the winner to resell access to its network on a wholesale basis.


Read more at Reuters.com Government Filings News

UPDATE 1-Deutsche Boerse Q2 profit, sales lag expectations

(Reuters) - Group earnings before interest, taxes and amortization
rose 10 percent year-on-year to 321.8 million euros
, Deutsche Boerse said in a statement.




The profit included an extraordinary gain of "some 10
million" euros from the disposal of land, the company said.


Read more at Reuters.com Mergers News

S&P Expands Ratings Review of Mortgage CDOs by $1 Billion to $5.7 Billion

(Bloomberg) -- Standard & Poor's may downgrade an
additional $1 billion of collateralized debt obligations as part
of its reassessment of rated investments in the mortgage market,
bringing the total amount of CDOs under review to $5.7 billion.

S&P added 33 pieces of 10 CDOs to a list of issues it's
considering for downgrades, the New York-based ratings firm said
in a statement today. S&P already cut ratings on more than
$2 billion of CDOs holding derivatives of subprime-and second-
mortgage bonds that the company downgraded earlier this month as
late payments on the underlying loans exceeded its expectations.


Read more at Bloomberg Bonds News

UPDATE 1-Libbey swings to Q2 profit, shares rise

(Reuters) - Sales for the latest quarter rose 31 percent to $207.1
million, beating one analysts' estimate of $203.8 million.




The Toledo, Ohio-based company's sales grew as it witnessed
a significant increase in its North American glass sales and
international sales.


Read more at Reuters.com Market News

IndyMac intends to maintain stock dividend

(Reuters) - IndyMac, which makes many mortgages considered just below
"prime" in quality, said it is trying not to take excessive risks
as borrowers miss more payments and amid lessening liquidity in
secondary markets.




"What we're focused on right now is safety and soundness,"
Perry said on a conference call discussing quarterly results.



Read more at Reuters.com Bonds News

Chile stocks rise following growth data, peso gains

(Reuters) - "The market has completely recovered since last week," a
trader said. "Today in Chile data on unemployment, industrial
production and other figures were released. They were better
than the market expected."




June industrial production grew 6.7 percent over 12 months,
easily outpacing analysts' forecasts of 4.8 percent, while
second-quarter unemployment came in at 6.9 percent, the lowest
for the period in nine years.


Read more at Reuters.com Bonds News

Rand holds onto overnight gains, in range

(Reuters) - South Africa's rand held onto overnight gains on Tuesday, taking a breather after sharp losses racked up over the past week and shrugging off a wider trade deficit.

The domestic currency was trading at 7.0990 to the dollar at 1530 GMT, virtually unchanged from its close in New York on Monday, when it rebounded from a one-month low of 7.1999.


Read more at Reuters Africa

UPDATE 1-Anadarko shares up as 2nd-qtr profit tops Street

(Reuters) - HOUSTON, July 31 - Shares of independent oil and
gas producer Anadarko Petroleum Corp. climbed on
Tuesday, a day after the company reported better-than-expected
quarterly earnings and raised its annual production forecast.




Houston-based Anadarko's shares initially rose more than 5
percent, but fell back a bit and were trading up 4.4 percent,
or $2.20 at $52.30 on the New York Stock Exchange at midday.


Read more at Reuters.com Market News

Nelnet agrees to a $2 mln settlement with New York

(Reuters) - NEW YORK, July 31 - New York Attorney General Andrew Cuomo said on Tuesday that Nelnet Inc , the leading consolidator of student loans, had agreed to pay $2 million as part of a settlement that ends a broad investigation into its business practices.



Cuomo, as part of his sweeping probe into the $85 billion a year student loan business, had accused Nelnet of making payments to college alumni groups in exchange for getting loan referrals. As part of the settlement, Nelnet agreed to stop making these payments and to adopt other reforms.


Read more at Reuters.com Government Filings News

Fitch cuts MGIC, puts Radian on negative watch

(Reuters) - Fitch also could downgrade Radian Group's "A" long-term
debt ratings and "AA" insurer strength ratings of all Radian
mortgage and financial guaranty subsidiaries. Radian Group has
$750 million of senior notes outstanding.




The action came after MGIC and Radian said they could be
forced to write down the entire value of their $1.034 billion
investment in C-BASS, which invests in the credit risk of
subprime residential mortgages.


Read more at Reuters.com Mergers News

Oil Rises Above $78, One-Year High, as U.S. Refiners May Boost Operations

(Bloomberg) -- Crude oil rose above $78 a barrel in
New York, the highest in more than a year, on speculation demand
will outpace supply as refiners increase fuel production in
preparation for the winter months.

An Energy Department report tomorrow may show that U.S.
crude-oil supplies fell for a fourth week, according to a
Bloomberg News survey of analysts. Demand tends to rise as
refineries begin to make fuels for use in the fall and winter.
Bets on rising prices by hedge funds and other speculators rose
to a record earlier this month, according to government data.


Read more at Bloomberg Energy News

Bidz.com sees Q2 rev of about $39 mln; backs 2007 rev view

(Reuters) - For 2007, the company said it still expects revenue to be
in the range of $170 million to $180 million and income before
tax of $14 million to $15 million, above its prior outlook of
$13 million to $14 million based on higher gross profit
margins.





Read more at Reuters.com Market News

Rogers slips to loss after big non-cash charge

(Reuters) - Excluding one-off items, the company reported a profit of
C$277 million, or 43 Canadian cents a share.







Read more at Reuters.com Market News

UPDATE 1-Vornado FFO rises in second quarter

(Reuters) - Funds from operations, or FFO, a measure of REIT
performance that removes the effects of depreciation, increased
22 percent to $281.7 million, or $1.72 per diluted share, from
$230.4 million, or $1.49, a year earlier.




Analysts on average had expected FFO of $1.64 per share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Sonic Automotive profit doubles, shares rise 5 pct

(Reuters) - DETROIT, July 31 - Sonic Automotive Inc. , the No. 3 U.S. auto dealership chain, on Tuesday said second-quarter earnings more than doubled on improved profit margins and raised its full-year outlook, pushing its shares up 5 percent.



The Charlotte, North Carolina-based company posted net income of $26.37 million, or 57 cents per share, compared with $12.19 million, or 29 cents per share, a year earlier. Earnings from continuing operations were 65 cents per share.


Read more at Reuters.com Market News

Turkish June Foreign Trade Gap Widens for Second Month on Material Imports

(Bloomberg) -- Turkey's trade deficit widened 18
percent in June from a year earlier, the second consecutive
increase, as industry drew in raw materials for manufacture of
products to export.

The trade gap grew to $5.5 billion from a revised $4.7
billion in the year-earlier period, the statistics agency in
Ankara said on its Web site today. The deficit was forecast to be
$4.8 billion, according to the median estimate of 13 economists
surveyed by Bloomberg.


Read more at Bloomberg Emerging Markets News

S.Africa credit points to rate hike, trade gap up

(Reuters) - Demand for credit by South Africa's private sector grew at a faster pace in June, hardening the case for higher interest rates to curb spending, while a wider trade deficit pointed to continued pressure on the current account.

The Reserve Bank has raised its repo rate by 250 basis points to 9.5 percent since mid-2006 to tame inflation and robust consumer demand, but spending, driven by credit, remains high.


Read more at Reuters Africa

RPT-US Midwest business grows more slowly in July

(Reuters) - The National Association of Purchasing Management-Chicago
business barometer fell to 53.4 from 60.2 in June. Economists
had forecast the index at 58.0. A reading above 50 indicates
expansion.




The employment component of the index jumped to 61.6 from
52.7 last month. Prices paid rose to 73.1 from 68.1 and new
orders dropped to 53.4 from 65.7.


Read more at Reuters.com Bonds News

TREASURIES-Bonds fall as stocks surge on confidence data

(Reuters) - Treasuries were little moved by tame inflation data and
news that business activity in the U.S. Midwest region
unexpectedly slowed sharply in July, as investors focused on
the stock market where stocks gained for a second day.




Rebounding stock markets reversed recent flight-to-quality
flows into Treasuries that had pushed benchmark 10-year
Treasury yields to two-month lows on Friday.


Read more at Reuters.com Bonds News

Copper Futures Rise Most in a Week in New York on Strike by Mexico Workers

(Bloomberg) -- Copper futures in New York jumped
the most in more than a week after Southern Copper Corp. workers
went on strike at three mines in Mexico.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc mines, a
union spokeswoman said yesterday. Copper has gained 10 percent
since May 30 as labor unrest hampered production in Latin
American countries.


Read more at Bloomberg Commodities 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

US STOCKS-Futures extend gains on PCE data

(Reuters) - S&P 500 futures were up 13 points, well above fair
value, a mathematical formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract.




Dow Jones industrial average futures rose 104
points, and Nasdaq 100 futures were up 18 points.


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 1-U.S. core inflation rose 0.1 percent in June

(Reuters) - Analysts polled by Reuters were expecting the core price
index to gain 0.2 percent on the month.




In the same report, the government said that, in seasonally
adjusted data, personal income rose 0.4 percent while personal
spending rose a less-than-forecast 0.1 percent, the weakest
showing since a drop in spending in September of last year.


Read more at Reuters.com Economic News

Regal-Beloit second-quarter earnings rise

(Reuters) - Quarterly net sales rose 5.6 percent to $459.8 million.




Analysts on average were expecting second-quarter earnings
of $1.04 a share, before special items, on revenue of $456.6
million, according to Reuters Estimates.



Read more at Reuters.com Market 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

Liz Claiborne quarterly profit falls

(Reuters) - Excluding items, profit was 26 cents per share for Liz
Claiborne, whose namesake designer died last month after
battling cancer.




The company is hoping that by focusing now on just four
brands it can ignite profits, which have tumbled due to a
squeeze on moderate apparel brands and falling demand for its
traditional upscale brands.


Read more at Reuters.com Market News

CBS quarterly earnings drop but beat forecasts

(Reuters) - Year-ago earnings included income from discontinued
operations of $291.9 million, reflecting a gain on the sale of
its Paramount Parks. It also had a tax benefit.




On an adjusted basis, earnings in the latest quarter rose
to 54 cents from 47 cents per share, surpassing the average
analyst estimate of 51 cents per share, according to Reuters
Estimates.


Read more at Reuters.com Market News

UPDATE 1-IAC/InterActiveCorp quarterly profit rises

(Reuters) - 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-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

U.K. Natural Gas Declines as Traders Reduce Pipeline Exports to Belgium

(Bloomberg) -- U.K. natural gas fell as traders cut
exports of the fuel to Belgium, potentially increasing supplies
held within the U.K.'s pipeline network.

Gas for delivery in the 24 hours through 6 a.m. tomorrow
dropped 6.7 percent to 30.8 pence a therm, according to prices
on Bloomberg from broker ICAP Plc. That's equivalent to $6.25 a
million British thermal units. A therm is 100,000 Btus. Gas for
delivery a day ahead fell 2.8 percent to 31.4 pence a therm.


Read more at Bloomberg Energy News

Pound Gains as Traders Add to Bets on Higher Rates After Bond Risk Falls

(Bloomberg) -- The pound rose against the dollar
and euro as traders increased bets that the Bank of England will
increase interest rates again this year.

The U.K. currency headed for its second month of gains
versus the dollar as interest-rate futures show investors are
betting on borrowing costs rising at least once more this year.
The Bank of England's benchmark rate of 5.75 percent is the
highest among Group of Seven nations.


Read more at Bloomberg Currencies News

JGBs rise after solid auction, BOJ view caps gains

(Reuters) - Futures inched up towards a two-month high touched on Monday
as Japanese stocks hovered near a four-month low and dealers
picked up shorter JGB maturities after an auction of two-year
notes attracted solid demand.




"The auction was slightly better
and the Nikkei is still dragging its feet," an analyst at a U.S.
securities house said.


Read more at Reuters.com Bonds News

UPDATE 3-Bancrofts, News Corp. wrangle over Dow Jones price

(Reuters) - By Megan Davies and Robert MacMillan



NEW YORK, July 30 - Rupert Murdoch's News Corp. appeared close to gaining sufficient approval for its $5 billion bid for Dow Jones & Co from the Bancroft family, The Wall Street Journal said, ahead of a Monday deadline for responding to the offer.


Read more at Reuters.com Mergers News

S.Africa June credit quickens to 24.92 pct yr/yr

(Reuters) - Growth in demand for credit by South Africa's private sector quickened to 24.92 percent year-on-year in June from 24.84 percent in May, central bank data showed on Tuesday.

During the same period, the broadly defined M3 measure of money supply grew by 23.35 percent, just slightly below forecasts, compared to 22.67 percent in May.


Read more at Reuters Africa

Copper Rises in Asia Trade on Mexican Labor Unrest; Zinc, Aluminum Advance

(Bloomberg) -- Copper futures in Asia rose after
workers at Southern Copper Corp., the world's fifth-largest
producer of the metal, began a strike at three of the company's
Mexican mines to demand wage increases.

Employees stopped work at Cananea, Mexico's largest copper
mine, and the Taxco and San Martin zinc mines, National Mining
and Metal Workers Union spokeswoman Carmen Romero said yesterday.


Read more at Bloomberg Commodities News

Melco PBL Completes Sale of $200 Million of Bonds Exchangeable Into Shares

(Bloomberg) -- Melco PBL Entertainment (Macau) Ltd.,
a casino venture between Lawrence Ho and Australian billionaire
James Packer, sold $200 million of bonds exchangeable into its
shares.

The Nasdaq-listed company's bonds, which will mature in 2012,
will pay interest of 2.4 percent, Packer's Publishing &
Broadcasting Ltd. said in a statement to the Australian stock
exchange today. It had proposed a coupon of 1.4 percent to 2.4
percent, according to a sale document sent to investors
yesterday.


Read more at Bloomberg Bonds News

Japan anti-monopoly watchdog probes steel firms

(Reuters) - Japanese media reports saying the FTC had launched an
investigation into possible price-fixing in these markets sent
shares of Nippon Steel down 2.9 percent to 891 yen and shares of
JFE Holdings down 2.6 percent to 8,140 yen as of 0456 GMT.




Read more at Reuters.com Government Filings News

CVC Asia Pacific agrees to buy Taiwan curtain maker

(Reuters) - The price represented a 13.6 percent premium over Monday's
closing price of T$36.35.




Shares of Nien Made, the world's top maker of blind shades,
surged by the daily 7 percent limit to T$38.85 in midday trading
on Tuesday.



Read more at Reuters.com Mergers News

JGBs sit tight on BOJ rate concerns, auction eyed

(Reuters) - Japan's jobless rate fell to a new nine-year low of 3.7
percent in June, beating economists' median forecast for 3.8
percent and suggesting that solid demand in the job market will
eventually push up prices as expected by the BOJ.




Swap contracts on the overnight call rate
showed a nearly 60 percent chance of a BOJ rate hike in
August, up from around 50 percent the previous day.


Read more at Reuters.com Bonds News

South Korean Manufacturers' Confidence Rises For First Time in Four Months

(Bloomberg) -- Confidence among South Korean
manufacturers for August increased for the first time in four
months, suggesting companies may ramp up production and spur
growth in Asia's third-largest economy.

An index of manufacturers' expectations for August rose to
89 from 86 for July, according to a poll of 2,929 companies
released by the Bank of Korea in Seoul today. The index began
in January 2003 and has always had a reading of less than 100,
indicating pessimists outnumber optimists.


Read more at Bloomberg Emerging Markets News

UPDATE 3-Hedge fund Sowood suffers 50 pct loss, to wind down

(Reuters) - BOSTON, July 30 - Hedge fund Sowood Capital told
investors on Monday that it would shut down after losing half
of its assets on soured bond market bets, becoming the
first-high profile fund forced out of business by recent market
turmoil.




The Boston-based fund, which managed money for Harvard
University and other prominent clients, saw assets dwindle to
roughly $1.5 billion from $3.0 billion in less than four weeks.


Read more at Reuters.com Mergers News

Currency Fund Returns Reach Record in June on Carry Trades, Parker FX Says

(Bloomberg) -- Cumulative returns on currency funds
rose to a record in June as managers profited from declines in
the yen and the dollar, according to Parker Global Strategies.

The yen slid against the euro and the pound last month as
investors borrowed Japan's currency at the lowest interest rate
in the industrialized world to fund purchases of higher-yielding
assets, known as carry trades, Parker Global said. The dollar
fell against major currencies in June as slowing inflation and
consumer spending prompted traders to pare bets on a U.S. rate
increase, Parker Global said.


Read more at Bloomberg Currencies News

JGBs sit tight on BOJ rate concerns, aution eyed

(Reuters) - A slide in U.S. Treasuries also discouraged investors from
picking up JGBs. On Monday, a rebound on Wall Street prompted
bond investors to sell Treasuries and take back some gains from a
bond rally last week.




"Market participants think it is getting easier for the BOJ
to hike interest rates as U.S. markets have started to
stabilise," said Tatsuo Ichikawa, chief JGB strategist at ABN
Amro.


Read more at Reuters.com Bonds News

Japan's Bonds May Fall on Speculation Investors Will Demand Riskier Assets

(Bloomberg) -- Japanese bonds may fall for a second
day as a recovery in global stock prices signaled investors are
shifting to riskier assets after last week's global rout in
corporate and emerging-market debt.

Ten-year yields may continue to climb from the lowest in
eight weeks after reports showed households increased spending
for a sixth month in June and the jobless rate fell, suggesting
Japan will extend its longest postwar expansion. The reports may
strengthen speculation that the Bank of Japan will raise
interest rates as soon as next month.


Read more at Bloomberg Bonds News

Japan July manufacturer PMI contracts, output weak

(Reuters) - The NTC Research/Nomura/JMMA Purchasing Managers Index, which
gives an early snapshot of the health of manufacturing, declined
to a seasonally adjusted 49.0 in July from 50.4 in June.




A reading above 50 suggests expansion, while a figure below
50 points to a contraction.


Read more at Reuters.com Economic News

Japan's Household Spending Rises; Unemployment Rate Drops to 3.8 Percent

(Bloomberg) -- Japan's households increased
spending for a sixth month in June and the jobless rate fell,
suggesting consumer outlays will help extend the economy's
longest postwar expansion.

Spending rose 0.1 percent from a year earlier, the
statistics bureau said today in Tokyo. The median estimate of 29
economists surveyed by Bloomberg News was for a 0.7 percent gain.
The unemployment rate dropped to 3.7 percent in June from 3.8
percent in May.


Read more at Bloomberg Bonds News

Japanese Yen, Indonesian Rupiah, Thailand's Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

UPDATE 3-Shell applies to build C$27 bln oil sands plant

(Reuters) - CALGARY, Alberta, July 30 - Royal Dutch Shell Plc
plans to build an oil sands upgrading complex at its
Edmonton, Alberta, refinery that could cost as much as C$27
billion , putting it among Canada's costliest
projects, it said on Monday.




Shell said its proposed Upgrader 2 would be built in four
100,000 barrel a day stages, processing tar-like bitumen from
its Athabasca Oil Sands Project -- which is already undergoing
a multibillion-dollar expansion -- as well as its steam-driven
oil sands projects in the same region.


Read more at Reuters.com Government Filings News

Fertilizer maker Mosaic posts quarterly profit

(Reuters) - Net income for the fiscal fourth quarter was $202.6
million, or 46 cents per share, compared with a year-ago loss
of $180.9 million, or 48 cents per share, the Plymouth,
Minnesota-based company said.




Net sales rose 27 percent to $1.68 billion.


Read more at Reuters.com Market News

Citigroup, Moody's and Wm. Wrigley Jr.: U.S. Equity Option Market Movers

(Bloomberg) -- The following is a list of companies
with unusual option trading in U.S. exchanges today. Stock
symbols are in parentheses after company names. Option trading
and stock prices are as of 4 p.m. in New York.

Each call option gives investors the right to buy 100 shares
of a company at a certain price, called the strike price, by a
given date. A put conveys the right to sell 100 shares.


Read more at Bloomberg Stocks News

Mexican stocks extend recovery, end up 2.20 percent

(Reuters) - The benchmark IPC stock index surged 665.51 points
to 30,900.68 points. The peso currency firmed just 0.09
percent to close at 10.95 to the dollar.




In debt trading, the price of the benchmark government
10-year peso bond rose 0.310 points to bid 101.71,
with a yield of 7.72 percent.


Read more at Reuters.com Bonds News

Sun Micro posts 4th-qtr profit vs. loss

(Reuters) - Earnings of 9 cents per share beat the analysts' average estimate of 5 cents per share. Net income was $329 million in the fourth quarter ended June 30, compared with a year-earlier net loss of $301 million, or 9 cents per share.




Revenue rose slightly to $3.84 billion, matching analysts' estimates, from $3.83 billion, while operating expenses fell 25 percent to $1.49 billion.


Read more at Reuters.com Business News

Oxford Industries quarterly net profit falls

(Reuters) - Consolidated net sales for the fourth quarter were $287.2
million compared with $287.6 million, a year ago.





Read more at Reuters.com Market News

Treasuries Decline Most in Two Weeks as U.S. Stocks Rebound From Last Week

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum suggested that a rally that sent yields
to the lowest since May 17 was poised to stall. U.S. government
debt last week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy.
Treasury volatility was near the highest since March 2005.


Read more at Bloomberg Bonds News

Bobcat to stay on in North Dakota-governor

(Reuters) - Earlier, the state's U.S. senators, Democrats Byron Dorgan
and Kent Conrad, said they would meet with representatives of
Doosan next week.




Dorgan said in a statement he was "concerned about the risk
of U.S. manufacturing being moved to low-wage manufacturing
facilities in Asian countries."


Read more at Reuters.com Bonds News

TREASURIES-Bonds ease as stocks climb

(Reuters) - NEW YORK, July 30 - U.S. Treasury debt prices fell
on Monday as investors took their cue from a rebounding stock
market and sold debt positions since there was no economic data
to sway trading.




Benchmark Treasury yields reached two-month lows last week
as bond prices rose on tumbling stocks and investor concerns over
reduced access to credit.


Read more at Reuters.com Bonds News

Treasuries Decline Most in Two Weeks as U.S. Stocks Rebound From Sell-Off

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum shows 10-year note yields were poised
to rise after dropping more than half a percentage point since
peaking at 5.327 percent on June 13. U.S. government debt last
week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy.


Read more at Bloomberg Bonds News

Northwest Airlines flight cancellation rate soars

(Reuters) - A Northwest spokesman said the carrier completed about 92 percent of its scheduled flights from Friday through Saturday compared with about 99 percent which is more typical for the airline.




"We expect today's operations to improve," Northwest spokesman Roman Blahoski said.


Read more at Reuters.com Bonds News

UPDATE 3-Tyson posts quarterly profit, raises outlook

(Reuters) - CHICAGO, July 30 - Tyson Foods Inc , the
world's No. 1 meat producer, reported a larger-than-expected
quarterly profit on Monday due to higher beef, chicken and pork
prices and cost-cutting efforts.




But Tyson shares posted only modest gains on Monday as some
of the improved results had been expected.


Read more at Reuters.com Market News

RLPC-UPDATE 1-Integra Telecom reduces 1st-lien loan, delays deal

(Reuters) - The first-lien loan is part of Integra Telecom's $1.25
billion acquisition financing. The company is implementing a
number of changes to the deal in order to make the overall
financing attractive to lenders.




The financing is led by Deutsche Bank, Morgan Stanley and
CIBC World Markets and backs the acquisition of Eschelon
Telecom .


Read more at Reuters.com Mergers News

UPDATE 2-Questor in talks to sell Teksid assets -source

(Reuters) - "The talks are with various parties," the source told
Reuters, while declining comment on a report in the Financial
Times saying Italian automaker Fiat SpA had made an
offer to buy the assets.




Citing people close to the talks, the newspaper said Fiat
might learn as early as Monday if its offer had been accepted.


Read more at Reuters.com Mergers News

Sugar Rises on Prospect Rally in Crude Oil Prices Boosting Ethanol Demand

(Bloomberg) -- Sugar in New York gained on
speculation rising crude oil prices will boost demand for
ethanol, diverting sugar cane away from production of the
sweetener in Brazil.

Crude oil reached an 11-month high of $77.33 a barrel in
New York today after gaining for seven straight weeks. Brazil,
the biggest producer of sugar-cane based fuel and sweetener, has
boosted ethanol production while cutting back on sugar output so
far this season.


Read more at Bloomberg Commodities News

Citadel Investment Group Takes Over Credit Holdings of Sowood Capital

(Bloomberg) -- Citadel Investment Group LLC took
over the credit holdings of Sowood Capital Management LP, the
hedge-fund firm started by former Harvard University endowment
manager Jeff Larson.

Terms of the transaction weren't disclosed in a statement
released today by Chicago-based Citadel.


Read more at Bloomberg Bonds News

Sales of Higher-Risk Mortgage Bonds Will Fall in Second Half, Lehman Says

(Bloomberg) -- Sales of new bonds backed by higher-
risk, higher-rate mortgages will slow further in the second half
of this year, according to Lehman Brothers Holdings Inc.

Issuance of bonds backed by subprime mortgages will drop 66
percent from the same period in 2006 to $75 billion, reflecting
a 57 percent drop from the first half of this year, analysts at
Lehman wrote in a report today. Alt A mortgage bond sales will
tumble 48 percent from last year's second half, the report said.


Read more at Bloomberg Bonds News

U.A.E. Shares Decline, Led by Etisalat and Dubai Islamic Bank: Gulf Stocks

(Bloomberg) -- Shares in the United Arab Emirates
dropped, paced by Emirates Telecommunications Corp., known as
Etisalat, and Dubai Islamic Bank PJSC.

The Abu Dhabi Securities Market Index fell 2.8 percent to
3430.03, the biggest one-day drop since June 7, 2006. The Dubai
Financial Market General Index slipped 0.6 percent to 4226.77,
bringing the two-day decline to 2.4 percent.


Read more at Bloomberg Stocks News

U.S. gold futures bounce early, dollar falls vs euro

(Reuters) - At 10:26 a.m. EDT , most-active gold for December delivery on the COMEX division of the New York Mercantile Exchange was up $2.40 at $674.70 an ounce, dealing in a narrow range between $671.80 and $675.20.




A precious metal dealer in New York said that bullion would look for trading cues from the currency market, as a steadily weakening dollar had sent gold to rally $40 before the tumultuous sell-off began on Thursday.


Read more at Reuters.com Hot Stocks 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

US stock indexes flat, but volatility running high

(Reuters) - U.S. stocks were little changed on Monday after gyrating between negative and positive territory in the first half hour as worsening sentiment about the global credit environment countered optimism about economic growth.

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 Africa

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