Malaysia's EON Capital stake sale talks stall-paper

(Reuters) - "They've stopped negotiations at this point of time. It's a
pricing issue," the Business Times quoted a source familiar
with the talks as saying. It is believed DRB, the single
largest shareholder in Malaysia's seventh-ranked lender EON
Capital, was looking to sell its stake at 9-10 ringgit a share,
the paper said.




EON Capital shares closed at 6.80 ringgit on Friday.


Read more at Reuters.com Mergers News

BP Must Face Trial Over Claims It Violated Settlements With Blast Victims

(Bloomberg) -- BP Plc must face trial in November on
claims it reneged on settlements with three victims of the deadly
explosion at its largest refinery, a Texas judge said.

Judge Susan Criss in Galveston, Texas, today refused to end
a lawsuit in which Alisa Dean, 33, Tracy Donaie, 33, and Henry
Rivera, 39, are seeking about $42 million in joint future medical
costs, plus $5 million each for mental anguish. They claim BP
didn't pay their bills promptly as promised.


Read more at Bloomberg Energy News

Tribune ends agreement with Gannett related to newspaper sale

(Reuters) - The agreement was terminated following an arbitrator's ruling last month that Tribune could not sell the company unless the buyer assumed the existing union contract as a condition of the sale, which Gannett declined to do, Tribune said in a statement.



The publisher of Los Angeles Times and Chicago Tribune also said it would immediately begin the process of soliciting offers for the newspapers.


Read more at Reuters.com Mergers News

US Medicare proposes no coverage for Synthes disc

(Reuters) - The program, which covers about 43 million elderly and disabled people, said in a draft proposal that it was rejecting coverage of the procedure no matter which disc was used. A final decision is expected in August.



) Keywords: SYNTHES MEDICARE/


Read more at Reuters.com Government Filings News

Bombay Co gets non-binding offers to buy company

(Reuters) - The new loan will enhance liquidity to fund working capital
requirements and other corporate needs, it added.





Read more at Reuters.com Mergers News

Safran plans to split Sagem communications unit

(Reuters) - The company is also studying plans to link up a printed
circuits plant in Lannion, in western France, which employs 80
people with an industrial partner in the same sector.




The plans were announced as Safran reaffirmed its 2007
targets at a shareholders' meeting. The company targets revenue
up around 5 percent and an operating margin above 5 percent.


Read more at Reuters.com Mergers News

Google's share of U.S. search market jumped in April

(Reuters) - By contrast, the No. 2-ranked Web search provider, Yahoo Inc. saw its U.S. search share in April fall 0.7 points to 26.8 percent. Microsoft Corp.'s sites lost 0.6 percentage points to 10.3 percent, comScore data showed.




IAC/InterActiveCorp's Ask.com fell 0.1 percentage points in April to 5.1 percent of the U.S market, it said.


Read more at Reuters.com Business News

Emerging debt-Prices rise as investors seek higher returns

(Reuters) - Capital flows into Latin America were also pushing up
currencies and stocks in the region, with the Colombian peso at
its strongest level in seven years despite recent government
measures to halt the trend.




Rising yields in U.S. Treasuries usually pull investors out
of riskier emerging markets, but for the moment investors are
still attracted by high returns offered by Latin American
assets.


Read more at Reuters.com Bonds News

Targacept files $75 mln common stock shelf offer

(Reuters) - Under a shelf registration filed with the U.S. Securities
and Exchange Commission, a company may sell securities in one
or more separate offerings with the size, price and terms to be
determined at the time of sale.




Read more at Reuters.com Government Filings News

Corn Futures Fall as Rains May Relieve Dry Conditions in Eastern Midwest

(Bloomberg) -- Corn futures fell in Chicago on
speculation that rains will boost prospects for crops threatened
by dry conditions in the eastern Midwest, including Illinois,
Indiana and Ohio.

As much as 1 inch of rain may fall through the weekend in
eastern Midwest fields that have received 25 percent of normal
rainfall the past month, said John Dee, president of Global
Weather Monitoring in Mohawk, Michigan. An additional half-inch
may fall over most of the Midwest early next week, Dee said.


Read more at Bloomberg Commodities News

Sugar Rallies in New York as Brazil Harvest Lags, Russian Demand Increases

(Bloomberg) -- Sugar in New York rose the most since
December on speculation that harvest delays in Brazil, the
biggest producer, and increasing demand from Russia are leading
to near-term tight supplies.

Rain and storms may disrupt the harvest in Sao Paulo, the
largest sugarcane grower in Brazil, according to Meteorlogix LLC
in Woburn, Massachusetts. Raw-sugar demand in Russia, the biggest
importer, rose as the domestic white sugar price jumped. Parts of
Ukraine and Russia have experienced drier-than-normal weather
since April, increasing stress to crops, Meteorlogix said.


Read more at Bloomberg Commodities News

BSkyB has not sold ITV stake: sources

(Reuters) - BSkyB, ITV and RTL declined to comment.




Read more at Reuters.com Hot Stocks News

TREASURIES-Bonds off lows on housing data, stocks weigh

(Reuters) - Bullish stocks and fading prospects of an interest rate cut
by the Federal Reserve this year have driven investors away
from safe-haven Treasuries, pushing benchmark yields to
four-month highs this week.




Government bonds are on track for a third straight week of
losses and benchmark 10-year yields have risen about 30 basis
points in the last two weeks.


Read more at Reuters.com Bonds News

U.S. leading index growth rate at fresh 3-year high-ECRI

(Reuters) - Its annualized growth rate reached a three-year high for a
third consecutive week at 6.4 percent, from 6.1 percent the
previous week.




"The WLI is showing broad-based strength in its
forward-looking components, including those for the services
and industrial sectors. Therefore, the prospect of a recession
is minuscule at this point," said Lakshman Achuthan, managing
director at ECRI.


Read more at Reuters.com Economic News

Memorial Day Motorists Will Pay Record Fuel Prices, Drive More Than Ever

(Bloomberg) -- Travelers during the Memorial Day
weekend will pay record gasoline prices and may face even higher
charges on the way home.

The national average price for regular gasoline climbed 39
percent this year to more than $3.20 a gallon as refinery
breakdowns cut production. Inventories are 7 percent below the
five-year average, prompting some analysts to predict more
increases.


Read more at Bloomberg Exclusive News

Drug scares make some analysts wary on Sanofi pill

(Reuters) - Zimulti, known as Acomplia in Europe, will be considered by
a U.S. Food and Drug Administration advisory panel on June 13,
and Bear Stearns analysts believe it may not get an immediate
green light.




"In view of the increasing number of scares in the industry
... we believe the FDA endocrinology division may not be keen to
make a potentially controversial decision quickly, with several
issues regarding potential side effects still outstanding," they
said in a note.


Read more at Reuters.com Government Filings News

Tanzania losing millions in forestry sector - study

(Reuters) - Tanzania is losing millions of dollars a year because of poor management and corruption in its forestry sector, an international conservation group said on Friday.

A study conducted in 2005 in southern Tanzania by Traffic International and the Tanzanian government showed that over half of 28 export companies studied had some form of link with senior Tanzanian or foreign government officials.


Read more at Reuters Africa

Central European Benchmark Indexes Decline, Led by PKO; Unipetrol Drops

(Bloomberg) -- Central European shares fell, led by PKO
Bank Polski SA, Poland's largest bank. Unipetrol, the largest Czech
oil company, also declined after Eni SpA said it will pay
``considerably'' less for a stake in Unipetrol's refinery than
reported by the media.

The NTX Index of 30 companies in the region lost 0.4 percent
to 1,933.51 at 2:10 p.m. in Vienna as 19 stocks fell, seven rose
and four were unchanged. The measure has added 0.1 percent this
week.


Read more at Bloomberg Stocks News

UPDATE 1-Tribune holders tender more shares than expected

(Reuters) - Tribune had earlier said it would repurchase 126 million
shares, representing more than half its outstanding shares, at
$34 a share, or about $4.3 billion.




As more than 126 million shares have been tendered, Tribune
said it will purchase shares on a pro rata basis.


Read more at Reuters.com Mergers News

UPDATE 1-Royal Bank of Canada profit rises 14 pct

(Reuters) - TORONTO, May 25 - Royal Bank of Canada , or 98 Canadian cents a share in the three months ended April 30. That compared with C$1.12 billion, or 85 Canadian cents a share, in the same period a year earlier.


Read more at Reuters.com Market News

Agilysys to buy Innovativ Systems for $100 mln

(Reuters) - Agilysys, a reseller of enterprise computer technology
technology, said the acquisition will add Sun's products to its
exisiting portfolio, which include products from EMC, HP and
IBM.





Read more at Reuters.com Mergers News

Bank of Mexico May Hold Lending Rates as Prices Drop More Than Expected

(Bloomberg) -- Mexico's central bank will probably
keep its overnight lending rate unchanged today after consumer
prices in the first half of this month fell more than expected.

Policy makers will maintain the benchmark rate at 7.25
percent, according to 12 of 17 economists surveyed by Bloomberg.
The bank raised rates for the first time in almost two years
last month, surprising all 16 economists polled, who predicted
the rate would be left at 7 percent.


Read more at Bloomberg Emerging Markets News

European Stocks Fall on Interest Rate Concern; Bouygues, CRH Pace Decline

(Bloomberg) -- European stocks dropped for a second
day, led by construction companies, on concern that accelerating
growth in Europe will keep interest rates rising.

Bouygues SA, the world's second-biggest construction
company, and CRH Plc, the second-largest maker and distributor of
building materials, paced declines. OMX AB had the biggest rally
in more than four years after Nasdaq Stock Market Inc. agreed to
buy Europe's fifth-largest equity market.


Read more at Bloomberg Stocks News

Airbus revamp should not be questioned - Germany

(Reuters) - He added the planned restructuring was an important step to
secure the future of Airbus.




Focus magazine had reported that a new row between France
and Germany was brewing as the Paris government believed the
restructuring measures, which include 10,000 job cuts, went in
Germany's favour.


Read more at Reuters.com Bonds News

RPT-OMX sees Nasdaq deal completion in Q4

(Reuters) - "We expect that this will be concluded in the fourth
quarter," OMX chief executive Magnus Bocker told a news
conference.




Separately, the Swedish government, which owns 6.7 percent
of OMX but has said it plans to sell the stake, said it would
not deliver its view on the offer before June 20, when
parliament is expected to decide on backing the government's
sell off plans.


Read more at Reuters.com Mergers News

Gold Gains, Erasing Decline, After Kyodo Says North Korea Fired Missiles

(Bloomberg) -- Gold gained in London, erasing an
earlier decline, after media reports that North Korea fired
several missiles toward the Sea of Japan today.

``Somebody's just bought gold on the back of it,'' said Simon
Weeks, head of precious-metals trading at ScotiaMocatta in London.


Read more at Bloomberg Commodities News

Gold Falls in London, Heading for Weekly Drop, on Dollar; Silver Rebounds

(Bloomberg) -- Gold fell in London, heading for the
longest losing streak since June, as gains in the dollar may
accelerate declining demand for the precious metal as an
alternative investment. Silver rebounded.

Investment demand for gold in exchange-traded funds watched
by the World Gold Council has declined 3.3 percent since April
20. Gold prices dropped 5.4 percent over the same period while
the dollar climbed 1.1 percent against the euro.


Read more at Bloomberg Commodities News

Copper Price May Decline Next Week on Speculation China Demand Will Slow

(Bloomberg) -- Copper may fall next week on
speculation that demand will slow in China, the largest buyer of
the metal, following a surge in imports in the first quarter.

Of the 15 people surveyed yesterday and May 23 by Bloomberg
News, 10 forecast copper will decline next week. Four expected a
gain and one said little change.


Read more at Bloomberg Commodities News

China Plans an Emergency Crude Oil Stockpile of 90 Days' Imports by 2020

(Bloomberg) -- China plans to build an emergency oil
stockpile to cover the equivalent of 90 days of imports by 2020,
said the energy research head at the nation's top economic
planning body.

China will fill the stockpile based on market conditions and
the government will consider the potential global impact when
making purchases of crude for its emergency supplies, Han Wenke,
director of the National Development and Reform Commission's
energy research institute, said in an interview today.


Read more at Bloomberg Energy News

Change needed in how World Bank head chosen - survey

(Reuters) - About 85 percent of participants of an online survey disagree or strongly disagree with the process of selecting the head of the World Bank, in which the United States picks a single American candidate.

Initial findings of the survey by the Washington-based Center for Global Development (CGD) think tank also found that most agree or strongly agree that the choice of a candidate should be based on qualifications, rather than nationality.


Read more at Reuters Africa