Asian Stocks Fall for First Time in Three Weeks on U.S. Housing Concerns

(Bloomberg) -- Asian stocks dropped for the first
time in three weeks on concern a U.S. housing slump will curb
growth in the region's biggest export market. Samsung Electronics
Co. and James Hardie Industries NV led the slide.

``Markets seem unable to push higher as we get more news
every day about the U.S. economy, particularly the housing
troubles there,'' said Hans Kunnen, who helps manage $107 billion
at Colonial First State Global Asset Management in Sydney.


Read more at Bloomberg Stocks News

Sierra Pacific unit plans new power projects

(Reuters) - The plans were included in a filing at the Public Utilities
Commission of Nevada updating Sierra Pacific's resource plan
for long-term energy needs.




The utility also asked regulators to approve several
agreements to purchase electricity from geothermal power
projects in northern Nevada.


Read more at Reuters.com Bonds News

ACA Capital investors cancel share sale

(Reuters) - No reason was provided for the company's withdrawing the
registration statement for the sale of shares.




ACA's shares have fallen more than 20 percent since June
19.


Read more at Reuters.com Bonds News

North American Energy files for 14.8 mln share offer

(Reuters) - Credit Suisse, UBS Investment Bank, CIBC World Markets, and
Jefferies & Co. are underwriting the offering.




Read more at Reuters.com Government Filings News

Dreamgate, Genting, Infosys, PTT Chemical: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan, on July 2. This preview
includes news that broke after markets closed. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.

Dreamgate Corp. (DCB MK): The largest supplier of gaming
machines in Asia outside Japan said it signed a shareholders
agreement to form a venture to set up a casino in Cambodia. It
will own 40 percent of the venture called Chateau De Bavet Club
Co. Dreamgate was unchanged at 1.75 ringgit.


Read more at Bloomberg Stocks News

UPDATE 1-Path for generic biologics clears US Senate panel

(Reuters) - WASHINGTON, June 27 - A U.S. Senate panel voted
on Wednesday to set a path for generic drugmakers to seek
approval of cheaper, copycat versions of expensive
biotechnology medicines.




Brand-name manufacturers would receive 12 years of
exclusive marketing time before generic competition could start
under a bill that cleared the Senate Health, Education, Labor
and Pensions Committee by a voice vote.


Read more at Reuters.com Government Filings News

Treasury Two-Year Notes Rise Most Since March as Gauge of Inflation Slows

(Bloomberg) -- Two-year Treasury notes rose the
most since March after a government report showed a gauge of
inflation watched by the Federal Reserve slowed in May and
consumer spending increased less than economists forecast.

Bonds extended their gains after police discovered and
dismantled a car bomb in London, prompting investors to seek the
safety of government debt. U.S. government securities rebounded
from a drop yesterday after the central bank said in a statement
that inflation remains its main concern.


Read more at Bloomberg Bonds News

UPDATE 1-ABS swap traders, dealers reject contract change

(Reuters) - Hedge fund executive John Paulson of Paulson & Co. had
proposed that new language be introduced into the language of
credit default swaps on ABS that makes explicit in the
contracts that an attempt to manipulate CDS prices by buying
back loans would break securities laws.




Paulson's concern was that sellers of protection on
mortgages could buy delinquent loans underlying the contracts
to avoid triggering default payments and limit their losses.
For details, see [ID:nN07639106].


Read more at Reuters.com Bonds News

Freddie Mac to sell $3.5 bln bills on Monday

(Reuters) - -- $2.5 billion of three-month bills due Oct. 1, 2007 to be
sold Monday and settle Tuesday; and




-- $1.0 billion of six-month bills due Dec. 31, 2007 to be
sold Monday and settle Tuesday.


Read more at Reuters.com Bonds News

Chavez Wants Producers to Cooperate to Keep Oil Prices Above $60 a Barrel

(Bloomberg) -- Venezuelan President Hugo Chavez told
Russian legislators he wanted oil producers to cooperate to keep
oil prices above $60 a barrel.

``Sixty dollars as a floor,'' he said earlier today to the
Duma in Moscow. ``For a ceiling, as high as it can go.'' The
remarks were shown on Venezuelan state television. He said that
Russia, the world's second-largest oil exporter, cooperated on
supporting the price of oil. Russia isn't a member of OPEC.


Read more at Bloomberg Energy News

UPDATE 1-Finish Line shares fall after disappointing update

(Reuters) - NEW YORK/LOS ANGELES, June 29 - Finish Line Inc.
said on Friday that the trend of falling same-store
sales that caused it to report a net loss in the first quarter
was continuing into the second, helping to send the athletic
shoe retailer's shares down 5 percent.




On a conference call, the operator of the Finish Line, Man
Alive and Paiva chains said that so far for June, same-store
sales were similar to those in the first quarter, when they
fell 3.9 percent.


Read more at Reuters.com Bonds News

Bisys' No. 2 shareholder opposes Citigroup buyout

(Reuters) - Okumus released his letter in a U.S. Securities and
Exchange Commission filing. Bisys and Citigroup did not
immediately return calls seeking comment.




Citigroup, the largest U.S. bank, agreed to buy Bisys on
May 2 so that it could offer more services to hedge funds and
private equity firms.


Read more at Reuters.com Government Filings News

Inflation gauge eases, Midwest activity grows

(Reuters) - In a separate report, a Reuters/University of Michigan survey showed consumer sentiment improved slightly in June from earlier in the month as gasoline prices ebbed. Even so, the final June reading was the lowest since last August.




Taken together, the reports suggested the Federal Reserve was succeeding in controlling price pressures while fostering moderate economic growth. They came a day after Fed policy-makers said they were leaving the benchmark interest rate at 5.25 percent, where it has stood for the past year.


Read more at Reuters.com Economic News

GLOBAL MARKETS-Subsiding inflation lifts US stocks, bonds

(Reuters) - NEW YORK, June 29 - U.S. stocks and government
bond prices rose on Friday after data showed inflation
pressures moderating, while signs of strength in the
manufacturing sector also aided shares.




In the currency market, the euro and other high-yielding
currencies climbed against the dollar while the low-yielding
yen weakened across the board as investors' appetite for risk
returned.


Read more at Reuters.com Bonds News

Cotton Rallies to Three-Year High After U.S. Farmers Cut Acreage 9 Percent

(Bloomberg) -- Cotton in New York rose to a three-
year high after a government report showed U.S. farmers planted
9 percent fewer acres with the fiber than forecast in March,
sowing more-profitable corn instead.

About 11.06 million acres were planted with cotton this
year, the U.S. Department of Agriculture said today, down from
12.15 million projected in March and 28 percent less than last
year's 15.27 million. The average estimate of 11 analysts
surveyed by Bloomberg News was for 11.6 million.


Read more at Bloomberg Commodities News

UPDATE 1-Packeteer - IRS claims company owes back taxes

(Reuters) - Shares of the company were down almost 19 percent to $7.69
in afternoon trade on the Nasdaq.




In a filing with the U.S. Securities and Exchange
Commission, the networking hardware maker said its previously
reported income tax provision was adequate, and that it intends
to file a protest against the claims.


Read more at Reuters.com Government Filings News

RIM shares soar on outlook, unfazed by iPhone

(Reuters) - In research reports littered with phrases like "great," "spectacular," "powerhouse momentum" and "bordering on the unbelievable," analysts uniformly cheered RIM's first-quarter earnings and even more so the second-quarter outlook it reported on Thursday.




RIM, which also announced it would split its shares on a 3-for-1 basis by way of stock dividend, rose C$36.46 to C$211.68 on the Toronto Stock Exchange. On Nasdaq, it soared $33.66 to $199.25.


Read more at Reuters.com Market News

Apple IPhone, Must-Have for Technophiles, May Be Tougher Sell for Parents

(Bloomberg) -- Yahoo! Inc. Chief Executive Officer
Jerry Yang wants an iPhone. Salesforce.com CEO Marc Benioff
plans to trade in his Motorola Inc. Razr for one. Chuck Jones
not only doesn't want one, he also isn't about to spend $1,000
or more to get iPhones for his two daughters.

While technophiles clamor for Apple Inc.'s combination
mobile phone and music player, some regular consumers like Jones
are less enthusiastic. The iPhone is pricier than rivals, lacks
the keyboard used by text messagers and works only on an AT&T
Inc. network. Parents also may balk at the $200 penalty to
switch wireless carriers, no matter how much their kids beg.


Read more at Bloomberg Exclusive News

US STOCKS-Indexes climb as Wall St ends strong quarter

(Reuters) - NEW YORK, June 29 - U.S. stocks rose on Friday
after data showed strength in the economy while an inflation
measure moderated, putting the stock market on track to end the
quarter on a strong note.




Among advancing shares, Research In Motion Ltd.
surged after the BlackBerry maker posted
stronger-than-expected quarterly profit and announced a stock
split. For details, see [ID:nN2838412.


Read more at Reuters.com Bonds News

Argentine's Peso Trades Near Two-Month Low on Subprime Mortgage Concerns

(Bloomberg) -- Argentina's peso was little changed
after falling to an almost two-month low yesterday as
uncertainty over the impact of U.S. subprime mortgages damps
emerging markets.

``We'll continue to see some mild volatility with the peso
over the subprime mortgages,'' said Guillermo Estebanez, a
currency strategist at Banc of America Securities LLC in San
Francisco. ``The market has become more comfortable with the
subprime issue, but the problem is still there and it will
recur.''


Read more at Bloomberg Currencies News

U.K. Stocks Rebound, Paced by Shares of Northern Rock, Shell; Segro Drops

(Bloomberg) -- U.K. stocks advanced, paced by
Northern Rock Plc after Goldman, Sachs & Co. recommended
investors buy the shares.

Royal Dutch Shell Plc climbed with the price of oil while BT
Group Plc rose after the phone company said analysts are too
pessimistic about sales growth.


Read more at Bloomberg Stocks News

UPDATE 2-S.Africa's ANC nears decision on leadership spat

(Reuters) - MIDRAND, June 29 - South Africa's ruling African
National Congress said on Friday it was still struggling to
decide how to elect its next leader amid disagreement over
whether to allow President Thabo Mbeki to run for a third term.




About 1,500 delegates from the ANC, which has ruled the
country since 1994, were meeting at a policy conference to
debate proposals that could block or clear the way for Mbeki to
hold on to the reins of the party at a congress in December.


Read more at Reuters.com Bonds News

Southern Co seeks Georgia Power rate increase

(Reuters) - Georgia regulators are expected to issue a final order on
the rate hike request in December, the company said.




Southern said the majority of the rate hike would go to
cover the cost of environmental compliance and continued
investment in new generation, transmission and distribution
facilities.


Read more at Reuters.com Market News

European Stocks Advance in Quarter; Total, Linde, Swatch Pace the Gains

(Bloomberg) -- European stocks headed for a fourth
consecutive quarterly advance on speculation companies will keep
increasing profit and takeovers will lift shares.

Linde Group and BASF AG led chemical makers higher on
expectations they may merge. Swatch Group AG rallied after
Deutsche Bank AG recommended buying shares in the watchmaker
because revenue and profit margins may increase. Total SA and
Royal Dutch Shell Plc as oil climbed to a 10-month high.


Read more at Bloomberg Stocks News

Hudson's shareholder sells 14.9 mln shares

(Reuters) - The company said it intends to buy back about 1.2 million
additional shares through a tender offer, increasing total
shares to be retired to 6.9 million.





Read more at Reuters.com Mergers News

European Stocks Recover Earlier Losses as Linde, BASF, Shell Advance

(Bloomberg) -- European stocks recovered earlier
losses as shares of Linde Group, BASF AG and Royal Dutch Shell
Plc advanced.

The Dow Jones Stoxx 600 Index was little changed, adding
less than 0.1 percent to 391.78 as of 2:25 p.m. in London. The
gauge has climbed 4.7 percent this quarter, heading for its
fourth consecutive gain, on speculation companies will keep
increasing profit and takeovers will rise. The index fell as much
as 0.5 percent earlier today.


Read more at Bloomberg Stocks News

US STOCKS-Futures point to higher open on tame inflation

(Reuters) - NEW YORK, June 29 - U.S. stock index futures
pointed to a higher market open on Friday after a gauge of
inflation in May showed its lowest reading since March 2004.




In company news, shares of Research In Motion Ltd.
rose before the opening bell after the
BlackBerry maker posted a quarterly profit above estimates,
which was followed by several brokerage upgrades. For details,
see [ID:nN28384123]


Read more at Reuters.com Bonds News

London cocoa hits 4-year high after Ivory Coast attack

(Reuters) - London benchmark September cocoa futures hit a fresh four-year high of 1,118 pounds per tonne basis second month on speculative buying after news of a rocket attack on the Ivorian Prime Minister.

Ivory Coast is the world's top cocoa producing country.


Read more at Reuters Africa

UPDATE 1-Canada economy stands still in April

(Reuters) - April was the first time since June 2006 that gross
domestic product did not grow, according to Statscan's revised
figures.




Analysts had forecast, on average, 0.2 percent growth in
April, after a robust 3.7 percent growth in the first quarter
and 1.5 percent expansion in the fourth quarter of last year.


Read more at Reuters.com Economic News

Apple's IPhone, Must-Have for Technopiles, May Be Tougher Sell for Parents

(Bloomberg) -- Yahoo! Inc. Chief Executive Officer
Jerry Yang wants an iPhone. Salesforce.com CEO Marc Benioff
plans to trade in his Motorola Inc. Razr for one. Chuck Jones
not only doesn't want one, he also isn't about to spend $1,000
or more to get iPhones for his two daughters.

While technophiles clamor for Apple Inc.'s combination
mobile phone and music player, some regular consumers like Jones
are less enthusiastic. The iPhone is pricier than rivals, lacks
the keyboard used by text messagers and works only on an AT&T
Inc. network. Parents also may balk at the $200 penalty to
switch wireless carriers, no matter how much their kids beg.


Read more at Bloomberg Exclusive News

Cocoa Jumps in London After Plane of Ivory Coast Prime Minister Attacked

(Bloomberg) -- Cocoa jumped in London after a plane
carrying the prime minister of Ivory Coast, the world's biggest
grower of the beans, was attacked.

The plane carrying Guillaume Soro was attacked with rockets
and small handguns shortly after landing at an airport in the
central town of Bouake today, said Lee Woodyear, a United Nations
spokesman. While three people were killed, Soro survived the
attack, Agence France-Presse reported.


Read more at Bloomberg Commodities News

S.Africa's ANC nears decision on leadership spat

(Reuters) - Mbeki has not ruled out running for a third term as ANC
chief although the country's constitution prevents him from
continuing to lead South Africa after 2009.




Read more at Reuters.com Bonds News

S.Africa petrol prices to fall by 8 cents - government

(Reuters) - South Africa's petrol prices will fall by 8 cents a litre across all grades from July 4, the government said on Friday.

A statement from the minerals and energy department said the most-used 95 grade would drop to 7.16 rand a litre in the central Gauteng province, which includes the financial hub Johannesburg.


Read more at Reuters Africa

Stocks set to fall post Fed, price data looms

(Reuters) - By 0916 GMT, September Dow Jones futures fell 0.1 percent, while S&P 500 futures eased 0.07 percent, and Nasdaq 100 futures dipped 0.05 percent.




U.S. indexes ended little changed on Thursday as the Fed's post-meeting statement acknowledged a recent easing in the rate of core consumer inflation, but insisted price pressures were the central bank's main policy concern.


Read more at Reuters.com Business News

Oil Gains as U.S. Refineries Increase Output, Midwest Stockpiles Decline

(Bloomberg) -- Crude oil rose after supplies in the
U.S. Midwest fell to the lowest since March as refineries started
making more gasoline to meet summer demand.

Crude stockpiles in Cushing, Oklahoma, where the benchmark
West Texas Intermediate crude is priced, fell by 1.5 million
barrels last week, the Department of Energy said. Refineries
increased runs to 89.4 percent of capacity for the same week.


Read more at Bloomberg Energy News

Kim Squeezed as Japan's North Koreans Switch Allegiance, Stop Sending Aid

(Bloomberg) -- Kim Jong Il no longer supports the
government of North Korea.

Kim is a 66-year-old businessman who owns a shoe factory in
Kobe, Japan. In 1997, he resolved to switch his citizenship to
South Korea from North Korea after deciding that ``I could no
longer support a government that allowed children to starve to
death.''


Read more at Bloomberg Exclusive News

Indonesia May Have Tin Futures Exchange Within Five Years, Official Says

(Bloomberg) -- Indonesia, the world's second-
largest tin producer after China, plans to set up an exchange to
trade futures in the metal, a trade ministry official said.

``We expect within five years to have a Jakarta Tin
Market,'' Diah Maulida, the ministry's director general of
foreign trade, told reporters in Jakarta. ``The plan is related
to our regulation on refined tin exports.''


Read more at Bloomberg Commodities News

Total Says Rosa Deepwater Oil Field Off Angola Began Production on June 18

(Bloomberg) -- Total SA, Europe's third-largest oil
company, said production started June 18 at its Rosa deepwater
oilfield off the coast of Angola.

Total said the Rosa field, which has proven and probable
reserves of 370 million barrels, will maintain the production
plateau of the Girassol platform at 250,000 barrels a day ``until
early in the next decade,'' the Paris-based company said today in
an e-mailed statement.


Read more at Bloomberg Energy News