Nymex Explores Sale to NYSE, Deutsche Boerse, CME, People Involved Say

(Bloomberg) -- The New York Mercantile Exchange,
the world's largest energy market, is exploring a sale to NYSE
Euronext, Deutsche Boerse AG or Chicago Mercantile Exchange
Holdings Inc., said two people involved in the discussions.

Nymex Holdings Inc. may be worth $155 a share or $14.3
billion, 11 percent more than yesterday's closing price, said
one of the people, who asked not to be identified because the
talks are confidential. Top Nymex executives have met with their
counterparts at the three suitors, the people said. Nymex's
board has been informed of the discussions.


Read more at Bloomberg Stocks News

Adobe Systems Declines; Smith & Wesson Holding Advances: U.S. After-Hours

(Bloomberg) -- Adobe Systems Inc. slipped in
extended U.S. trading after the world's biggest maker of design
software forecast sales this quarter that may miss some
analysts' estimates.

Shares of the San Jose, California-based company dropped 28
cents, or 0.6 percent, to $43.68 at 5:38 p.m. in New York. Adobe
said fiscal third-quarter sales may be between $760 million and
$800 million. The low end of Adobe's forecast is less than the
$782.7 million average estimate of 20 analysts surveyed by
Bloomberg. Adobe said profit last quarter climbed 24 percent on
demand for updated versions of its Creative Suite products.


Read more at Bloomberg Stocks News

Australian Cattle Prices Fall as Lower Weight Animals Offered at Auction

(Bloomberg) -- Cattle prices in Australia, the
world's second-largest beef exporter, fell 1 percent this week
following a decline in the condition and weight of the animals
offered for sale.

The benchmark Eastern Young Cattle Indicator, which
measures auction prices in eastern Australia, fell 3.25 cents,
to A$3.3375 ($2.79) a kilogram yesterday. There were no reported
cattle markets being held today.


Read more at Bloomberg Commodities News

U.S. Senate Makes Agreement to Revive Immigration Laws, Ending Stalemate

(Bloomberg) -- The Senate agreed to end a week-long
stalemate over immigration legislation yesterday, just hours
after President George W. Bush endorsed a plan to speed $4.4
billion in funding to border security projects.

Nevada Senator Harry Reid, the Democratic leader, and his
Republican counterpart, Kentucky Senator Mitch McConnell, said
the Senate would resume debate on immigration possibly as soon
as next week.


Read more at Bloomberg Currencies News

UPDATE 1-BOJ on hold but rate rise still seen this summer

(Reuters) - The lack of any proposal for a rate hike from the central
bank's nine Policy Board members, though widely expected, soothed
Japanese bond market players, as some feared such a call would
stoke speculation of a tightening at their next meeting on July
11-12.




"If the vote had been split, markets would have factored in
the chance of a rate hike in July," said Naoki Iizuka, a senior
economist at Mizuho Securities.


Read more at Reuters.com Bonds News

China Imported a Net 310,000 Tons of Coal During May as Power Demand Rises

(Bloomberg) -- China, the world's biggest coal
producer and consumer, imported a net 310,000 metric tons of the
fuel in May as the pace of the nation's economic growth drove up
demand for fuel burned at power stations.

Imports rose 14 percent to 3.74 million tons of coal last
month, data from the General Administration of Customs received
today shows. The nation exported 3.43 million tons of the fuel,
customs said June 12.


Read more at Bloomberg Commodities News

Fake Lipton Tea, Nescafe Leak Into EU, Cutting Sales for Unilever, Nestle

(Bloomberg) -- Belgian customs official Chris De
Buysscher intercepted a shipment of 20,000 kilograms (44,000
pounds) of fake Lipton tea from China last year. He discovered
800,000 knockoff Oral-B toothbrushes because the accompanying
paperwork was vague about their final destination.

De Buysscher, head of the port of Antwerp's counterfeit-
hunting squad, is on the front line of a new battle in the war
against knockoffs: fake brand-name items including tea, shampoo
and soap. Colgate-Palmolive Co. yesterday warned U.S. consumers
that counterfeit toothpaste that may contain a chemical used in
antifreeze was found at stores in four states.


Read more at Bloomberg Emerging Markets News

JGBs rebound on short covering, eyes on BOJ

(Reuters) - Another focus of the meeting is whether some members of the
BOJ policy board vote for a rate hike -- a move that would fuel
speculation of an earlier rate increase.




"Market players had oversold JGBs, given that inflation
pressure in the Japanese economy is nil, and now they are buying
them back," said Susumu Kato, chief strategist at Calyon Capital
Markets.


Read more at Reuters.com Bonds News

Oil sector's gain, moderate inflation lift stocks

(Reuters) - Exxon's stock led the major advancers in the S&P 500 as crude rose on gasoline supply concerns.




A day after the biggest gain in the Dow industrials in almost a year, stocks drew support from a government report that showed a modest rise in the May Producer Price Index excluding food and energy costs.


Read more at Reuters.com Business News

Crude Oil May Rise Next Week as U.S. Gasoline Output Lags, Survey Shows

(Bloomberg) -- Crude oil may rise next week on
concern that U.S. refineries aren't producing enough gasoline to
keep up with increasing consumption.

Eighteen of 37 analysts surveyed, or 49 percent, said oil
prices will increase. Ten, or 27 percent, said prices will be
little changed and nine forecast a decline. Last week, 36
percent of respondents said prices would fall.


Read more at Bloomberg Commodities News

Fuel plan backed by carmakers offered in Senate

(Reuters) - The bipartisan alternative offered by Sen. Carl Levin, a Michigan Democrat, and Christopher Bond, a Missouri Republican, would require cars, sports utilities and pickups to get better mileage over time, but is weaker than the chief plan approved by the Commerce Committee in May.




Financially struggling carmakers, including General Motors Corp., Ford Motor Co., and Chrysler Group, have lobbied fiercely against the commerce measure, arguing that it would break their backs.


Read more at Reuters.com Bonds News

ECB's Weber: Booming economies may spur inflation

(Reuters) - This may require central banks to take a tougher stance
with their monetary policy decisions, he said.




"Just as much as globalisation for some time could have
produced disinflationary effects in our countries, it just as
well may in the period ahead produce more inflation-enhancing
effects," he said in response to questions after addressing
London's German-British Chamber of Industry and Commerce.


Read more at Reuters.com Bonds News

RPT-TREASURIES-Bonds fall on mortgage selling, oil's surge

(Reuters) - NEW YORK, June 14 - U.S. government bond prices
slipped in volatile trade on Thursday on mortgage-related
selling, extending a rout that hoisted benchmark 10-year
Treasury note yields to a five year peak.




Treasuries gave up the gains that resulted from Asian
buying and benign comments on inflation by Chicago Federal
Reserve President Michael Moskow as bids were awarded for the
$4 billion sale of mortgage bonds by a Bear Stearns
hedge fund, analysts said.


Read more at Reuters.com Bonds News

Cleveland-Cliffs to acquire metallurgical coal producer

(Reuters) - Cleveland-Cliffs said the deal is expected to increase 2008
revenue by about $400 million and add about $100 million in
EBITDA.





Read more at Reuters.com Bonds News

US STOCKS-Energy stocks, moderate core PPI boost indexes

(Reuters) - The Dow Jones industrial average was up 71.62
points, or 0.53 percent, to end unofficially at 13,553.97. The
Standard & Poor's 500 Index was up 7.26 points, or 0.48
percent, to close unofficially at 1,522.93. The Nasdaq
Composite Index was up 17.10 points, or 0.66 percent,
to finish unofficially at 2,599.41.




Read more at Reuters.com Bonds News

U.S. senator wants FCC auction to spur competition

(Reuters) - Senate Commerce Committee Chairman Daniel Inouye cited
"lingering concerns" the auction rules set by the Federal
Communications Commission could allow existing wireless
carriers to strengthen their grip on the business by buying up
the spectrum.




"It is important that the commission recognize the danger
of further consolidation and adopt rules that will attract new
entrants and promote competition," said Inouye, a Democrat from
Hawaii.


Read more at Reuters.com Government Filings News

Linux leaders plot counterattack on Microsoft

(Reuters) - Leading names of Linux, the world's biggest grassroots software phenomenon, are spending three days to Friday debating whether an increasingly commercial open source community should fight or ignore the world's largest software maker.




Dressed in the alternative software movement's casual uniform of T-shirts and jeans, the group is coming to grips with internal divisions that sap at its success -- Linux is now used to power desktop computers, major Web sites, mobile phones -- since rival factions often create very similar products.


Read more at Reuters.com Business News

Utilities Expect an Increased Role for Wind, Nuclear Power, Survey Shows

(Bloomberg) -- Utilities expect wind and nuclear
power to account for more of their markets' energy consumption in
the next five years amid global climate change and reduced
security of energy supply, PricewaterhouseCoopers LLP said.

Forty-eight percent of respondents to a PwC survey said wind
energy will become more important than production from natural
gas and coal over the next five years, up from 17 percent in
2006, according to a report by the accounting and advisory firm
released today. Forty-five percent said nuclear energy will
account for an increasing proportion of their markets' energy
consumption, compared with 19 percent the year before.


Read more at Bloomberg Energy News

Verizon files with SEC for $8 bln debt, stock shelf

(Reuters) - Verizon also said it is removing from registration $2.5
billion of securities it had previously registered as part of a
$10 billion shelf offering in 2003.




Read more at Reuters.com Bonds News

RPT-China trade deal may help EU telecoms operators

(Reuters) - China told the EU it would make available a list of
value-added telecoms services that domestic and foreign
companies can apply for, the European Commission said on
Thursday as it published agreed results of ministerial-level
talks.




"This is very significant," said Pascal Kerneis, head of the
European Service Forum, which represents EU service providers.


Read more at Reuters.com Government Filings News

US STOCKS-Indexes climb with oil sector

(Reuters) - Exxon's stock led the major advancers in both the Dow and
the S&P 500 as U.S. crude for July delivery rose $1.44,
or 2.2 percent, to $67.70 a barrel on fresh supply concerns.




Investors also drew support from a government report that
showed the core reading in the May U.S. Producer Price Index,
minus food and energy costs, was in line with expectations.


Read more at Reuters.com Bonds News

MDA says no discussions on sale of company, unit

(Reuters) - The company said it was responding to news articles in the
Wall Street Journal and the Globe and Mail, reporting the
company wanted to sell its surveillance and space businesses.







Read more at Reuters.com Mergers News

Chile Peso Strengthens Against Dollar After Copper Jumps on Supply Concern

(Bloomberg) -- Chile's currency strengthened after
prices for copper, the country's biggest export, jumped as
miners plan to strike at state-owned Codelco mine.

``The price of copper has been very strong, and it appears
will continue to remain that way,'' said Alfredo Coutino, senior
Latin America economist at Moody's Economy.com.


Read more at Bloomberg Currencies News

Investor group settles suit with CBOT on merger

(Reuters) - Since then CME has beefed up the terms of the deal by a
total of some $1.5 billion in two separate moves, the latest of
which was announced on Thursday.




CME has also been responding to a competing takeover bid
for CBOT from IntercontinentalExchange Inc.


Read more at Reuters.com Mergers News

Treasuries Decline, Pushing Yields Close to Five-Year High on Inflation

(Bloomberg) -- Treasuries fell, pushing yields
close to a five-year high, as a report on producer prices
signaled that inflation quickened last month.

Yields on 10-year U.S. notes are set to rise for a sixth
straight week as investors are pricing in the risk that
inflation won't moderate. Faster inflation erodes the value of
Treasuries' fixed payments and may fuel speculation the Federal
Reserve will lift interest rates later this year.


Read more at Bloomberg Bonds News

Rand firmer vs dollar, US bonds main driver

(Reuters) - South Africa's rand firmed against the dollar on Thursday, tracking a general recovery among emerging market currencies that have taken the brunt of rising U.S. treasuries yields, traders said.

At 1525 GMT the dollar was at 7.1875 against the greenback, 0.52 percent stronger than Wednesday's close in New York of 7.2250.


Read more at Reuters Africa

E.ON Grid Operator in U.K. Suffers Power Disruptions From Thefts of Wires

(Bloomberg) -- E.ON AG is losing copper wiring to
thieves in the U.K. who are risking their lives and disrupting
electricity flows by stealing the lines at British substations, a
local unit of the German utility said.

Central Networks, owner of the distribution grid for
households across central England, suffered at least nine cases
of criminal damage in less than six weeks from April 30, a ``big
jump'' in such incidents, it said today in a statement on its Web
site. The thieves damaged substations and a school, cutting power
to customers in cities including Nottingham and Wolverhampton.


Read more at Bloomberg Energy News

Sprint seeks funding for wireless network: report

(Reuters) - Sprint declined to comment on the report.




"We continue to look opportunistically to best unlock value for our shareholders," spokeswoman Sara Krueger said.


Read more at Reuters.com Bonds News

RPT-CME to pay special dividend to CBOT holders

(Reuters) - All CBOT shareholders will receive a one-time cash dividend
of $9.14 per share, or a total of $485 million, the companies
said in a joint statement.




Read more at Reuters.com Mergers News

Treasuries Little Changed; Pare Declines Amid Record Mortgage Foreclosures

(Bloomberg) -- Treasuries were little changed, with
yields near a five-year high, as signs of quicker inflation
bolstered speculation the Federal Reserve will lift interest
rates later this year.

Yields on 10-year U.S. notes are set to rise for a sixth
straight week as investors priced in the risk that inflation
won't moderate. Faster inflation erodes the value of Treasuries'
fixed payments. Debt prices erased an earlier drop as the share
of risky U.S. mortgages entering foreclosure set a record.


Read more at Bloomberg Bonds News

Absa plans 500 mln euros bond issue

(Reuters) - South Africa's Absa Bank, a unit of Absa Group, plans to issue up to 500 million euros in senior unsecured bonds, it said on Thursday.

The bonds will be issued under a 2 billion euros medium term note (EMTN) programme to be listed on the London Stock Exchange.


Read more at Reuters Africa

TREASURIES-Bonds extend losses after uptick in core PPI

(Reuters) - The benchmark 10-year note's price slipped 8/32 for a yield
of 5.24 percent , versus 5.23 percent before the
report and compared with 5.20 percent late on Wednesday. Bond
yields and prices move inversely.




Read more at Reuters.com Bonds News

Goldman Sachs profit rises, beating estimates

(Reuters) - By Joseph A. Giannone



NEW YORK, June 14 - Goldman Sachs Group Inc. eked out a 1 percent increase in quarterly profit on Thursday to beat expectations, yet revenue slipped as a sharp drop in fixed income trading offset record investment banking fees and strong equities income.


Read more at Reuters.com Market News

US Treasury - debt market guidelines aid integrity

(Reuters) - He said Treasury market participants recognize that the
market is lightly regulated and they all benefit from that
regulatory regime. Thus, they have "strong incentives to act in
accordance with principles that enhance the stability and
integrity of the marketplace," he said.




Read more at Reuters.com Government Filings News

UPDATE 1-Bear Stearns quarterly net drops by a third

(Reuters) - The results were weaker than expected, and Bear Stearns
shares fell 2.5 percent in premarket trading to $145.81.




Net income was $361.7 million, or $2.52 a share, for the
fiscal second quarter ended May 31, compared with $539.3
million, or $3.72 a share, a year earlier.


Read more at Reuters.com Market News

IFC at $1 bln mark in funding to Africa, plans more

(Reuters) - The International Financial Corp plans to lift spending in Africa to take advantage of strong commodity prices and a fall in the number of conflicts racking the continent, a senior official said on Thursday.

The IFC, the World Bank's private sector lender, has spent $1 billion in Africa since it was set up in 1956, and the lion's share of that funding has taken place in the last four years, said Thierry Tanoh, IFC Director for Sub-Saharan Africa.


Read more at Reuters Africa

Africa policymaking improving - World Bank official

(Reuters) - Africa is becoming a more attractive investment destination as governments pursue economic and political reforms that are firing up their economies, business executives and bankers say.

"What we are seeing is that economies that are not dependent on oil or minerals are growing, which is an indication that African growth is not being determined alone by minerals, commodities and such like," said Obiageli Katryn Ezekwesili, vice-president of the World Bank in Africa.


Read more at Reuters Africa

Liberty Media, Echostar to bid for Intelsat-report

(Reuters) - NEW YORK, June 14 - Liberty Media Corp. and EchoStar Communications Corp. are preparing a joint offer for satellite-communications provider Intelsat Ltd., The Wall Street Journal's online edition said on Thursday.



Intelsat, which is accepting final bids for its auction on Thursday, could fetch more than $5.5 billion, the Journal said.


Read more at Reuters.com Mergers News

UPDATE 1-India's ICICI to sell $4.9 bln shares for loan funds

(Reuters) - MUMBAI, June 14 - India's largest private sector
bank, ICICI Bank , said on Thursday it will
sell up to $4.9 billion of shares next week so it can fund the
companies that will drive India's rise as an economic force.




The bank will sell two lots of shares worth 87.5 billion
rupees each in India and in the United States,
with greenshoe options for 15 percent that take the total size
to 201.25 billion rupees -- almost one-quarter of its market
value.


Read more at Reuters.com Bonds News

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

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

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


Read more at Bloomberg Exclusive News

Copper Gains in London on Chinese Growth, Mine Strikes; Nickel Increases

(Bloomberg) -- Copper rose for a third consecutive
day in London after industrial production unexpectedly
accelerated in China, the world's largest user of the metal, and
on speculation mine strikes in Chile will disrupt supplies.
Nickel, aluminum and zinc also advanced.

China's output increased 18.1 percent in May from a year
earlier, the National Bureau of Statistics said today, after
gaining 17.4 percent in April. That beat the 17 percent median
estimate of 19 economists surveyed by Bloomberg News. Contract
workers at Chile's Codelco, the world's largest copper producer,
plan to strike from June 20, a labor leader said yesterday.


Read more at Bloomberg Commodities News

Vattenfall Plans to Increase Production at Its Kruemmel Reactor in Germany

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

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


Read more at Bloomberg Energy News

UPDATE 1-Record Citigroup offer shows Samurai bond revival

(Reuters) - TOKYO, June 14 - Citigroup is raising 270
billion yen in the biggest-ever yen bond sale by a
foreign company, highlighting a revival of the Samurai market.




The market -- yen bonds issued by foreign companies in Japan
-- is enjoying a revival. Tight spreads, good conditions in the
yen interest rate swaps market, strong investor demand and
favourable U.S. tax treatment of Samurais are behind the rush.


Read more at Reuters.com Bonds News

European Union Carbon-Dioxide Emission Permit Prices Rise for a Second Day

(Bloomberg) -- European Union carbon-dioxide
emission permits rose for a second day.

Emission permits for delivery in December 2008 gained as
much as 45 cents, or 1.9 percent, to 24.10 euros ($32) a metric
ton, according to the European Climate Exchange in Amsterdam.
They traded at 24.01 euros as of 8:30 a.m. local time.


Read more at Bloomberg Energy News

Colgate says fake toothpaste found in 4 U.S. states

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




The packaging also contains several misspellings, Colgate said.


Read more at Reuters.com Business News