AmerisourceBergen says signs agreement with DEA

(Reuters) - The agreement requires the company to implement an enhanced
and more sophisticated order monitoring program in all
distribution centers by June 30 and clear several DEA
inspections.





Read more at Reuters.com Government Filings News

Fidelity says waging legal battle with ex-employee

(Reuters) - According to court documents, David van Duyn, a lawyer who
worked at Fidelity until May, 2006, accused a Fidelity
executive of ordering him to avoid some of the USA Patriot
Act's requirements to monitor and report certain transactions
to regulators.




Fidelity spokesman Vin Loporchio said Fidelity has denied
the allegations.


Read more at Reuters.com Bonds News

Zoltek Cos. files for $350 million mixed shelf

(Reuters) - Zoltek said in the registration statement with the U.S.
Securities and Exchange Commission that it would use the
proceeds from its sales for general corporate purposes,
including capital expenditures, acquisitions and debt
repayments.




Under a shelf registration, 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

Macy's shares rise on takeover talk

(Reuters) - The company's shares jumped to $43.11, before closing up $2.56, or 7 percent, at $41.43 in very active trading on the New York Stock Exchange.




"There is unusual share and option activity in Macy's as rumors circulate that it will be acquired," said William Lefkowitz, an options strategist at brokerage firm vFinance Investments.


Read more at Reuters.com Business News

Hog Futures Fall After U.S. Pork Demand Declines; Cattle Prices Slide

(Bloomberg) -- Hog futures in Chicago tumbled
4 percent this week, the most since mid-September, as pork
demand slumped. Cattle prices fell to a one-week low.

Meatpackers have already purchased the hogs they need to
meet orders for the U.S. Independence Day holiday on July 4, and
demand will fall after that, Allendale Inc. livestock analyst
Rich Nelson said. Prices for pork loin, the source of most
chops, had their fourth weekly decline in five weeks, signaling
shrinking demand.


Read more at Bloomberg Commodities News

RPT-Delphi, UAW reach tentative labor contract

(Reuters) - It would also clear a major operational risk for former
Delphi parent GM, which remains Delphi's biggest customer.




The agreement must be ratified by workers at the local
units and approved by the U.S. Bankruptcy Court.


Read more at Reuters.com Bonds News

UPDATE 1-Rich nations ask too much in trade talks-Brazil

(Reuters) - Lula spoke with British Prime Minister Tony Blair in a 20-
minute telephone conversation one day after attempts to
reinvigorate the Doha world trade talks ran aground.




"Brazil won't abandon efforts to finalize the round in a
balanced way. It will continue to contribute to work in Geneva
with the other WTO members," presidential spokesman Marcelo
Baumbach quoted Lula as saying.


Read more at Reuters.com Economic News

Delphi, UAW reach tentative labor contract

(Reuters) - The agreement must be ratified by workers at the local
units and approved by the U.S. Bankruptcy Court.




Read more at Reuters.com Bonds News

California air board adopts greenhouse gas rules

(Reuters) - The regulations order cleaner-burning gasoline that would
reduce carbon dioxide emissions by at least 10 percent by 2020.




A second measure will bar the sale of NSP21633 refrigerant
cans for vehicle air conditioners, and a third will require
systems to reduce emissions of methane gas from landfills.


Read more at Reuters.com Bonds News

Jabil shares jump after profit beats forecast

(Reuters) - Jabil after the market close on Thursday reported a profit excluding items of 23 cents per share for its third quarter ended May 31, compared with analysts' average estimate of 20 cents per share as compiled by Reuters Estimates. Revenue rose nearly 16 percent to $3 billion.




Its net income fell to $6.2 million, or 3 cents per share, from $64.2 million, or 30 cents, a year earlier, largely due to pretax charges for restructuring and write-downs.


Read more at Reuters.com Hot Stocks News

House bill targets "carried interest" taxes

(Reuters) - WASHINGTON, June 22 - A bill to raise taxes on
"carried interest" compensation awarded to private equity firm
partners was introduced on Friday by 14 Democratic members of
the U.S. House of Representatives.




Among lawmakers introducing the measure were Ways and Means
Committee Chairman Charles Rangel, Financial Services Committee
Chairman Barney Frank and Michigan Rep. Sander Levin.


Read more at Reuters.com Government Filings News

Italy econ min says LSE-Borsa deal "positive"

(Reuters) - He added the deal was part of "the important process of
international strengthening of Italian financial institutions".




Read more at Reuters.com Mergers News

PluggedIn: Online video recorders stoke new piracy concerns

(Reuters) - Using software easily found on the Internet, Baker, chief executive of Widevine Technologies, recorded a video clip stream from that network's Web site, stripped out the commercials and sent the company back the altered video.




The network executive's reaction? "Wow, we need protection now!" Baker recalled. "Major television operators are seeing their offerings re-posted on the Internet, often times with the advertising stripped out."


Read more at Reuters.com Government Filings News

Sugar Heads to Weekly Gain in New York as Brazil Uses Cane for Ethanol

(Bloomberg) -- Sugar in New York rose, heading for
the biggest weekly gain in a month, as Brazil, the largest
sugar-cane grower, uses more of the plant to make ethanol.

Brazil used 57 percent of the cane harvested in the main
center-south growing region to produce ethanol and 43 percent to
make sugar in the first five months of the year, Reuters
reported, citing an industry association. The country will
harvest 528 million metric tons of sugar cane through November,
up 11 percent from a year earlier, the government said May 31.


Read more at Bloomberg Commodities News

Subprime lending standards seen ready next week

(Reuters) - Reich spoke on the sidelines of an anti-money laundering event at the U.S. Financial Crimes Enforcement Network headquarters in suburban Washington.







Read more at Reuters.com Bonds News

Corn Heads for Biggest Weekly Drop in Two Years, Soybeans Fall After Rains

(Bloomberg) -- Corn fell to a two-week low in
Chicago, heading for the biggest weekly loss in two years, and
soybeans dropped as Midwest rains rejuvenate U.S. crops
stressed by dry weather.

As much as 2 inches (5 centimeters) of rain has fallen in
parts of the Midwest since yesterday, according to T-Storm
Weather. Fields from Minnesota to Ohio could receive triple the
normal rainfall over the next five days, the forecaster said.
Some areas east of the Mississippi River have gotten less than
half the normal rain in the past two months.


Read more at Bloomberg Commodities News

London Stock Exchange, Italian Bourse to Hold Merger Talks, Two People Say

(Bloomberg) -- London Stock Exchange Plc, Europe's
third-largest trading platform, reached agreement with Borsa
Italiana SpA on a takeover as the two exchanges respond to
increased competition, two people familiar with the plan said.

The London bourse will offer about 1.6 billion euros ($2.2
billion) for Borsa Italiana, news agency Ansa reported. Borsa
Italiana's board authorized Chief Executive Officer Massimo
Capuano to negotiate the merger with the LSE after a two-hour
board meeting in Milan, said the people, who declined to be
identified before the companies release a statement.


Read more at Bloomberg Stocks News

Parmalat wins injunction against U.S. creditors

(Reuters) - NEW YORK, June 22 - Parmalat , the Italian dairy company, on Friday said a U.S. bankruptcy judge has awarded it a permanent injunction to protect it against claims by Bank of America Corp. and other U.S. creditors.



The order by Judge Robert Drain of the U.S. bankruptcy court in Manhattan, which Parmalat said was dated Thursday, would be a defeat for an estimated 31 holders of privately placed Parmalat bonds with some 646 million euros of claims.


Read more at Reuters.com Bonds News

Blackstone raises $4.1 billion

(Reuters) - The pricing, closely watched by regulators and financial markets worldwide, proved demand for the offering was heavy despite pressure from Congress.




Blackstone's planned opening on the New York Stock Exchange on Friday is a watershed event for the booming private equity industry as it is the first major U.S. buyout firm to take part of itself public. Blackstone will trade under the symbol "BX".


Read more at Reuters.com Hot Stocks News

UPDATE 1-ICICI share sale well covered, pricing seen high

(Reuters) - MUMBAI, June 22 - India's second-largest lender
ICICI Bank is set to price its $4.9 billion share sale at the
top end of the range after the local order book was filled more
than 11 times, bankers said.




Demand for the country's biggest ever share sale was boosted
by a significant bid from Singapore's Temasek Holdings [TEM.UL]
and private equity firm Warburg Pincus, but retail interest was
less strong.


Read more at Reuters.com Bonds News

Abercrombie, Blackstone, Delphi, EBay, Jabil, Taser: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:30 a.m. New York time.

Abercrombie & Fitch Co. (ANF US) fell $1.84, or 2.4 percent,
to $74.74. The casual clothing retailer for teens and college
students was cut to ``equal weight'' from ``overweight'' at
Lehman Brothers Holdings Inc. The company's same-store sales
could decline in the second and third quarters, and a later back
to school period could result in a ``disappointing'' July,
analysts wrote in a note.


Read more at Bloomberg Stocks News

Brazil Real Falls on Speculation China to Raise Rates, Lower Equity Prices

(Bloomberg) -- Brazil's currency fell on concerns
that higher interest rates in China may damp demand for emerging
market assets. Local bond yields rose

Speculation the Chinese government may lift borrowing costs
this weekend to cool the economy and constrain a booming stock
market boom raised fears of an economic slowdown that could
weaken demand for Brazilian exports and its high-yielding
financial assets, said Mario Paiva, a currency strategist at
Liquidez DTVM in Rio de Janeiro.


Read more at Bloomberg Currencies News

Pianalto-Fed wants efficient,effective credit flow

(Reuters) - While Pianalto focused on troubles in the subprime mortgage
market, she did not discuss the outlook for the U.S. economy or
monetary policy. A copy of her remarks was made available
ahead of delivery.




Read more at Reuters.com Bonds News

Yen hits fresh lows on quest for yield

(Reuters) - The yen weakened further on Friday, hitting a record low versus the euro and a 4-1/2 year trough against the dollar as investors chased high return assets at the expense of the low-yielding Japanese currency.

The high-yielding Australian and New Zealand dollars benefited from a continued vogue for carry trades, scoring fresh multi-year peaks against the yen and dollar.


Read more at Reuters Africa

Jones Apparel near $825 mln Barneys sale: NYT

(Reuters) - Jones Apparel did not immediately return a call seeking comment. A spokeswoman for Istithmar in Dubai declined to comment, saying that Friday was a day of prayer and rest in Dubai.




Istithmar, which has a global real estate portfolio valued at $7 billion to $8 billion, including prime properties in London and New York, has been aggressively buying up U.S. property and other assets over the past year. The investment firm owns off-price apparel retailer Loehmann's Holdings Inc. and a major stake in the Mandarin Oriental New York hotel.


Read more at Reuters.com Mergers News

TREASURIES-Prices flat, rate and fund worries linger

(Reuters) - Given the lack of major economic reports, Treasuries will
likely take directions from stocks, oil and overseas debt,
analysts said.




Bond prices retreated from overseas gains tied to stronger
Bunds in reaction to a surprising weak reading of German
business confidence in June.


Read more at Reuters.com Bonds News

Saudi Aramco May Cut LPG Prices on Falling Chemical Demand, Traders Say

(Bloomberg) -- Saudi Aramco, the world's biggest
producer of liquefied petroleum gas, may cut prices in July
because of falling demand from Asian chemical makers including
CPC Corp. and Mitsui Chemicals Inc., according to a Bloomberg
News survey.

Saudi Aramco may lower prices of propane by 3.4 percent to
$572 a metric ton from $592 by the end of June, according to the
median of five estimates by traders who declined to be
identified because of company policies. The refiner may trim
butane by 2.8 percent to $595 from $612 a ton, according to the
survey. The company will announce prices by end-June.


Read more at Bloomberg Energy News

Treasuries Little Changed After Business Confidence Weakens in Germany

(Bloomberg) -- U.S. 10-year Treasuries were little
changed, following a six-week losing streak, after Germany's Ifo
institute reported an unexpectedly steep decline in business
confidence, easing speculation global inflation will accelerate.

Treasuries have slumped since early May, pushing benchmark
yields to a five-year high on prospects of faster economic
growth around the world. Investors sought the safety of shorter
maturities this week, prompting the gap between yields on two-
year notes and 10-year debt to widen.


Read more at Bloomberg Bonds News

British Energy Starts Reactor 1 at Dungeness-B Plant After Two-Day Outage

(Bloomberg) -- British Energy Group Plc, whose
nuclear reactors can produce about a fifth of the U.K.'s
electricity, started production at Unit 1 at its Dungeness-B
plant, which had been offline for two days.

The reactor, which can generate about 550 megawatts of
power, started production at 12:35 p.m. yesterday and was running
at a reduced output of 80 megawatts at 8:30 a.m. today, data on a
Web site operated by National Grid Plc showed. The unit was
halted on June 19 after an unplanned ``circuit-induced trip.''


Read more at Bloomberg Energy News

U.S. shares set for weak start; eyes on Blackstone

(Reuters) - Investor focus is likely to be on private equity group
Blackstone , which makes its debut on the New York Stock
Exchange after its initial public offering at $31 a share valued
it at $33.48 billion and marked a watershed for the booming
private equity industry.




"The Street is talking of an opening $2 to $3 higher, and
it's clear that those who got in early will make money," Steve
Previs of Jefferies International said.


Read more at Reuters.com Bonds News

Treasuries Gain After Report Shows Weaker Business Confidence in Germany

(Bloomberg) -- U.S. Treasuries rose after stocks in
Europe slid following a report that showed business confidence
in Germany weakened more than forecast.

U.S. 10-year notes were little changed this week after a
slump since May that took benchmark yields to 5.32 percent, the
highest since April 2002. Investors have sought the relative
safety of shorter maturities, prompting the gap between yields
on two-year notes and 10-year debt to widen this week.


Read more at Bloomberg Bonds News

Philippines' BPI sells bad loans to Bank of America

(Reuters) - BPI said aside from Bank of America, four other foreign
institutions submitted bids for the loans.




Philippine commercial banks' non-performing loans have
fallen to 5.27 percent of total loans as of end April from a
peak of about 18 percent in 2001.


Read more at Reuters.com Bonds News

Vattenfall Starts Sweden's Forsmark-2 Nuclear Reactor After Repairing Leak

(Bloomberg) -- Vattenfall AB, the Nordic region's
biggest utility, started its Forsmark-2 nuclear reactor in
Sweden, after halting it to repair a water leak.

Vattenfall started the 1,000-megawatt unit at Forsmark,
located on the country's east coast, north of Stockholm, at 6:46
a.m. local time, it said today in a statement distributed by the
Nord Pool ASA power exchange. Production will increase
``slowly'' to 975 megawatts, the company said.


Read more at Bloomberg Energy News

JGBs gain on Nikkei fall, rate concerns remain

(Reuters) - Futures recovered from an early slide that had been prompted
by losses in U.S. Treasuries on Thursday, but market
participants did not expect prices to gain much further because
of a widespread view that the Bank of Japan will lift interest
rates in coming months.




September futures ended 0.18 point higher at
131.67, boosted by a 0.28 percent fall in the Nikkei share
average as stocks pulled away from a seven-year high
notched on Thursday. The lead bond contract kept its distance
from a seven-year low of 130.76 hit last week.


Read more at Reuters.com Bonds News

Karachi Electric May Break Even by 2009, Ending More Than Decade of Losses

(Bloomberg) -- Karachi Electric Supply Co., a
former state-run company that was privatized 18 months ago,
expects to break even by April, 2009 and reverse more than a
decade of operating losses, the chief executive officer said.

The company expects to raise 29 billion rupees ($478
million) in three years to replace transformers, install
digital meters and maintain the 50,000 kilometer-long network,
Syed Muhammad Amjad, a retired army official, who took the helm
in April, said in an interview yesterday. The company will
invest a further $550 million to complete two power plants.


Read more at Bloomberg Energy News