BHP Billiton revives Alcoa bid plans: paper

(Reuters) - Alcoa has itself made a $28.4 billion cash-and-stock hostile takeover offer for Alcan Inc. .




BHP was not immediately available for comment.


Read more at Reuters.com Business News

Euro sets new high vs yen, kiwi dips on RBNZ sales

(Reuters) - The euro scaled a record peak against the yen on Monday on expectations for the Bank of Japan to raise interest rates only gradually, while the New Zealand dollar retreated on suspected fresh central bank intervention.

The euro extended its gains to hit a record high against the low-yielding yen for the second straight session, getting a boost from Friday's remarks by BOJ Governor Toshihiko Fukui that all but doused fears of a rate rise in July.


Read more at Reuters Africa

Australian Coal Price Rises to Highest in Almost Three Years After Storm

(Bloomberg) -- The price for power-station coal at
Newcastle, Australia, the world's largest coal export port, rose
to the highest in almost three years after producers including
Rio Tinto Group cut shipments after a four-day storm.

The price of thermal coal for immediate delivery from the
port in New South Wales state increased $4.38 a metric ton to
$63.11 in the week ended June 15 from a week earlier, according
to the globalCOAL NEWC Index. The port resumed limited
operations last week and may run at near full capacity on June
20 after loadings were halted June 8.


Read more at Bloomberg Energy News

BC Partners in lead to buy Intelsat: report

(Reuters) - None of the companies mentioned in the report was immediately available to comment.




Intelsat assets are in demand amid a renaissance in the commercial satellite market that is spurred by demand for high-definition television and faster Internet services.


Read more at Reuters.com Business News

CV Therapeutics, Emeritus, Lehman Brothers, Lexicon: U.S. Equity Preview

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

Alleghany Corp. (Y US): Shares of the U.S. insurance and
investment company that's similar to Warren Buffett's Berkshire
Hathaway Inc. may surge 50 percent in the next three years,
Barron's reported, without citing anyone. Alleghany stock rose
$6.98 to $370.98 on June 15.


Read more at Bloomberg Stocks News

PRESS DIGEST - Financial Times - June 18

(Reuters) - Private equity aficionado Guy Hands has defended the tax
system that governs the industry following criticism of the
existing structure. Hands said: "Unlike the bonus and option
system used to reward listed company directors, carry is
risk capital and should be taxed as such." Hands' comments came
ahead of a Treasury select committee meeting on Wednesday that
is expected to put the issue of tax to the leaders of five
private equity firms. The executives are expected to argue
private equity is key to the City's valuable financial services
sector and warn that any tightening of the tax code is likely to
prompt the industry to move to countries with more favourable
systems.




CBI CHIEF FEARS "WHOPPER" OF A BRUSSELS THREAT OVER FLEXIBLE
LABOUR MARKET


Read more at Reuters.com Mergers News

Yuan Rises to Highest Since End of Dollar Link; China May Allow More Gains

(Bloomberg) -- The yuan strengthened to its highest
since the end of a dollar link in July 2005 on speculation China
will allow appreciation to complement other monetary policies to
cool exports and investment.

Economic figures last week showed sales overseas,
investment, factory production and inflation accelerated in May,
raising the need for a stronger yuan to help ease expansion in
the world's fastest-growing major economy. The yuan had its
biggest weekly gain since the end of the link.


Read more at Bloomberg Currencies News

Global Sources will not up HC International stake

(Reuters) - Global Sources also said Trade Media will not be exercising
its other option to purchase Huicong Construction Co's 18
percent stake in Beijing Huicong International Information Co.
at an aggregate exercise price of $31.9 million. Beijing
Huicong is an indirect subsidiary of HC International.




Global Sources and Trade Media Holdings still collectively
own about 12.8 percent of HC International.


Read more at Reuters.com Mergers News

JGB futures rise on Fukui comments, Treasury rally

(Reuters) - September futures rose 0.40 point on the day to
131.70, moving away from a seven-year low of 130.76 hit last
week.




The benchmark 10-year yield dropped 5 basis
points to 1.885 percent, moving away from an 11-month high of
1.985 percent hit last week.


Read more at Reuters.com Bonds News

Taiyo Fund ups stake in Japan's Miraca Holdings

(Reuters) - The Taiyo Fund was organized in July 2003 with an initial
equity investment of $200 million by CalPERS, the California
Public Employees Retirement System.




The fund currently manages over $1.2 billion of assets and
is co-managed by Taiyo Pacific Partners LP and by WL Ross &
Co.


Read more at Reuters.com Mergers News

BHP, Macquarie Airports, Futuris, Rio, Woodside: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed on Friday. Prices are from
Friday's close unless otherwise stated. Stock symbols are in
brackets after the company names.

The S&P/ASX 200 Index futures contract due in June rose 0.6
percent to 6328 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index added 0.7 percent in New York.


Read more at Bloomberg Stocks News

RPT-AIRSHOW-Boeing shifts green pressure onto engine makers

(Reuters) - PARIS, June 17 - The head of Boeing Co.'s
commercial aircraft unit on Sunday backed a call by rival
Airbus to work closely on producing more environmentally
friendly planes, but said real progress was the responsibility
of jet engine makers, rather than plane builders.




"The questions you ask are more appropriately addressed by
the engine guys than the airframe guys," the chief executive of
Boeing's commercial plane unit said, when pressed on green
issues at a briefing with reporters in Paris on Sunday. "We're
pushing the engine guys as hard as anyone else."


Read more at Reuters.com Bonds News

RPT-Bay Street Week Ahead-Rising C$ puts squeeze on big oil

(Reuters) - CALGARY, Alberta, June 17 - Spurred on by rising
crude prices, the shares of Canada's oil producers have posted
big gains in recent months as investors anticipate higher
earnings for the sector.




But that market strength may moderate as a rising Canadian
dollar eats into the profits.


Read more at Reuters.com Market News