Kohlberg Kravis Earns Half as Much as Schwarzman's Blackstone Before IPO

(Bloomberg) -- Kohlberg Kravis Roberts & Co., whose
funds control companies with more than $100 billion in annual
revenue and 560,000 employees, earned half as much as its
largest competitor, Blackstone Group LP.

KKR, which announced plans this week to raise about $1.25
billion in an initial public offering, reported net income of
$1.1 billion in 2006, trailing Blackstone's $2.3 billion,
according to a filing with the U.S. Securities and Exchange
Commission.


Read more at Bloomberg Bonds News

Indonesia's Central Bank Cuts Policy Rate for 13th Time to Increase Growth

(Bloomberg) -- Indonesia's central bank cut its
policy interest rate for the 13th time since May last year to
accelerate economic growth after inflation eased.

Bank Indonesia Governor Burhanuddin Abdullah reduced the
rate used as a reference for bill sales by a quarter of a
percentage point to 8.25 percent, the lowest since the measure
was introduced in July 2005. Ten of 16 economists surveyed by
Bloomberg expected the move.


Read more at Bloomberg Emerging Markets News

Volvo Plans More China Acquisitions to Tap Demand for Trucks, Excavators

(Bloomberg) -- Volvo AB, the world's third-largest
construction-equipment maker, aims to make further acquisitions
in China as road-building and real-estate projects boost sales
of wheel loaders, excavators and trucks.

``Acquisitions are natural and the most effective way to
expand,'' Lansi Jiang, vice president of Volvo (China)
Investment Co., said in an interview in Shanghai yesterday.
Volvo bought a 70 percent stake in Shandong Lingong Construction
Machinery Co. for 327.5 million yuan ($43 million) in January.


Read more at Bloomberg Emerging Markets News

Philippine Bonds Gain as Inflation Slows; Peso Falls on Deficit Concerns

(Bloomberg) -- Philippine 10-year bonds rose after
the government said inflation slowed in June, reducing the
likelihood the central bank will raise interest rates.

``With the central bank signaling neutral to relax on its
policy rates, it generates interest among foreign investors to
come in and go back into the local fixed income market,'' said
Roland Avante, treasurer at Chinatrust (Philippines) Commercial
Bank in Manila.


Read more at Bloomberg Bonds News

TREASURIES-Fall in Asia as market returns from holiday

(Reuters) - The weekend attack on Glasgow airport and thwarted car
bombings in London had raised concerns about security on the
other side of the Atlantic.




Such worries sparked buying of safe-haven government bonds,
helping push 10-year Treasury yields to fall below 5 percent on
Monday for the first time since early June.


Read more at Reuters.com Bonds News

Japanese Shares Climb, Led by Sony, Sending Nikkei 225 to Seven-Year High

(Bloomberg) -- Japanese shares rose for a sixth day,
sending the Nikkei 225 Stock Average to it highest in seven
years. Sony Corp. led gains on speculation the yen's slump
against the dollar and euro boosted profits in the three months
ended June.

Retailers climbed, led by Seven & I Holdings Co., after
companies including Aeon Mall Co. reported higher income in the
first quarter.


Read more at Bloomberg Stocks News

Gold inches down, but supported by oil prices

(Reuters) - -- Activity was thin, carrying over a sluggish mood from the previous day as U.S. markets were closed for the Independence Day holiday.




-- Key Tokyo Commodity Exchange gold futures <0#JAU:> rose about 0.4 percent.


Read more at Reuters.com Hot Stocks News

Ajaz Rahim, Pakistani Banker, Denies Charges in U.S. of Insider Trading

(Bloomberg) -- Pakistani investment banker Ajaz Rahim,
indicted on July 3 by a U.S. grand jury, denied that he traded
shares of TXU Corp. and other companies with inside information
and said his lawyers will contest the case.

Rahim, 44, dismissed allegations he conspired with former
Credit Suisse banker Hafiz Muhammad Zubair Naseem to make illegal
trades, operated a brokerage account for his fellow Pakistani
national or exchanged e-mails with him about U.S. stocks.


Read more at Bloomberg Stocks News

Oil Trades Near 10-Month High on U.S. Gasoline Concern, Nigeria Rig Attack

(Bloomberg) -- Crude oil traded near a 10-month high
in New York on concern renewed violence in Nigeria and refinery
breakdowns may restrict U.S. fuel supplies.

Royal Dutch Shell Plc said five expatriate contractors were
abducted from a rig in Nigeria, where militant groups this week
ended a one-month truce with the government. A U.S. government
report today will probably show the nation's gasoline stockpiles
remained below average as rising demand and plant faults hamper
refiners' efforts to store fuel.


Read more at Bloomberg Energy News

Hyundai Engineering, Kumho, LG.Philips LCD: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the previous close. This preview
includes news announced after markets shut yesterday. Stock
symbols are in brackets after the company names.

The Kospi index advanced 1.8 percent to a record 1838.41. The
Kosdaq added 0.9 percent to 804.02. Kospi 200 futures expiring in
September rose 1.7 percent to 234.90, while the underlying index
climbed 1.8 percent to 233.43.


Read more at Bloomberg Stocks News

Ecuador plans to divide energy ministry in two

(Reuters) - "In coming days, this chaotic ministry ... will be
reformed and divided into the petroleum and mines ministry and
an electricity ministry," Correa told reporters.




Some market analysts had speculated that Ecuador was going
to create a separate mining ministry to better cope with the
sector and growing violence in communities involved in mining
activities.


Read more at Reuters.com Bonds News

Mexico Bolsa Gains on Outlook for Tax Legislation; Brazil Stocks Decline

(Bloomberg) -- Mexico's Bolsa index rose for a sixth
day as prospects improved for the passage of a tax measure that
could spur government spending on infrastructure and energy.

The main Bolsa index advanced 93.41, or 0.3 percent, to
32,211.24 as of 3:53 p.m. in New York. Brazil's benchmark Bovespa
index erased a 0.5 percent rally on concern inflation will
prevent the central bank from cutting interest rates.


Read more at Bloomberg Stocks News

Crude Oil Trades Near 10-Month High After Attack on Shell Rig in Nigeria

(Bloomberg) -- Crude oil traded near a 10-month high
in New York after Royal Dutch Shell Plc said militants attacked
its rig in Nigeria, raising concern about further oil supply
disruption from Africa's largest producer.

Five expatriate contractors working for Lonestar Drilling
Nigeria Ltd. were taken hostage, said Precious Okolobo, a
spokesman for Shell's Nigerian venture. The attack occurred
early this morning in the Soku field, where the rig was drilling
a well. No production was affected, he said.


Read more at Bloomberg Energy News

Spain's CNE approves Enel/Acciona bid for Endesa

(Reuters) - The 12 conditions included keeping Endesa as a separate brand, managed and run from Spain and honouring its investment plans.



)


Read more at Reuters.com Mergers News

Canada's Dollar Advances on Speculation Interest Rates Will Keep Rising

(Bloomberg) -- Canada's dollar rose to within a cent
of a 30-year high versus its U.S. counterpart on speculation the
Bank of Canada will keep raising its interest rates.

The Canadian currency has climbed 10 percent this year as
higher crude prices, which have risen 17 percent in the same
period, boost the nation's growth. Commodities including oil make
up about half of Canada's exports. The currency may extend gains
before a report tomorrow that's forecast to show Canadian
building permits rose last month.


Read more at Bloomberg Currencies News

Mexico's Bonds, Currency Advance After S&amp;P Lifts Country's Debt Outlook

(Bloomberg) -- Mexico's bonds and the peso rose
after Standard & Poor's this week raised the country's credit
rating outlook, citing prospects legislators will approve a bill
to boost the country's tax collection.

The yield on the 30-year maturity denominated in pesos fell
for a third day as S&P lifted the outlook to positive from
stable. President Felipe Calderon's success in getting the
opposition-controlled congress to pass a bill in March to cut
government spending on pensions raised expectations he'll garner
support for the tax proposal, S&P said.


Read more at Bloomberg Currencies News

Eastern Platinum launches S.African tailings plant

(Reuters) - Eastern Platinum Ltd has commissioned a $2.28 million plant in South Africa to process mining waste into metal, the firm said on Wednesday.

The plant at the company's Crocodile River Mine will process waste tailings that have built up at the operation and is expected to boost overall output by 5,000 ounces of platinum group metals (PGMs) per year, a statement said.


Read more at Reuters Africa

VW says H1 China/HK vehicles sales up 24.6 pct

(Reuters) - The maker of Volkswagen and Audi brand cars moved a record
431,369 vehicles during the period, compared with 346,263
vehicles a year ago, the company said in a statement.




Sales of Volkswagen brand vehicles increased 23.7 percent to
379,705 units in the half-year, including imported models, while
sales of the Audi brand rose 26.9 percent to 49,267 units, it
said.


Read more at Reuters.com Market News

Total Plans to Invest $409 Million to Expand U.K.'s Lindsey Oil Refinery

(Bloomberg) -- Total SA, Europe's largest oil
refiner, said it would spend 300 million euros ($409 million) on
equipment to boost diesel output at its Lindsey refinery, the
company's largest in the U.K.

Total will add a hydro-desulphurization unit and a steam
methane reformer unit at the refinery in Lincolnshire, the
Paris-based company said in an e-mailed statement. The equipment
will be commissioned in 2009 and increase the plant's output of
so-called ultra-low-sulfur diesel while processing cheaper
grades of crude, Total said.


Read more at Bloomberg Energy News

Lead Futures Advance to Record $2,842 on Supply Disruption, Chinese Demand

(Bloomberg) -- Lead rose to a record for a third day
in London on increased demand in China, the world's biggest
consumer of the metal, and supply disruptions from Australia.

Global demand for lead, used in car batteries, may outstrip
supply by 55,000 metric tons this year as China's production may
be less than expected, Standard Bank Group Ltd. said in an e-
mailed report yesterday. The bank, a member of the London Metal
Exchange, raised its 2007 price forecast by 12 percent.


Read more at Bloomberg Commodities News

Oil Declines From Near 10-Month High on Speculation Gains Aren't Justified

(Bloomberg) -- Crude oil fell in New York from near
a 10-month high as some traders speculated five days of gains
weren't justified.

Oil rose 5.4 percent in the past five trading days, partly
on concern refinery breakdowns will slow U.S. gasoline output.
Flint Hills Resources LP, a unit of Koch Industries Inc., and
Valero Energy Corp. reported faults at plants in Texas.


Read more at Bloomberg Energy News

German Power for 2008 Declines as Carbon Emission Trade Near One-Week Low

(Bloomberg) -- German electricity for delivery next
year slipped for a third day as the price of carbon-emission
allowances declined, reducing the cost of generating power by
burning fossil fuels.

Next-year baseload power prices in Germany, Europe's
biggest electricity market, fell as much as 25 cents, or 0.5
percent, to 55.45 euros ($74) a megawatt-hour, according to
broker GFI Group Inc. at 9 a.m. Berlin time.


Read more at Bloomberg Energy News

Gold Rises in London as Dollar's Slump Boosts Demand; Silver Also Advances

(Bloomberg) -- Gold rose in London on demand for a
hedge against further declines in the dollar as the U.S. currency
traded near a record-low against the euro. Silver also gained.

Gold has risen 2.8 percent this year while the dollar has
declined 3.1 percent against the euro. The dollar fell today on
speculation central banks in Europe will raise interest rates
while the Federal Reserve remains on hold. Gold fell yesterday,
with most of the decline in U.S. trading hours.


Read more at Bloomberg Commodities News

Ten-Year Treasury Chart `Not a Happy 4th July Picture,' Says Citigroup

(Bloomberg) -- Ten-year Treasuries may decline,
pushing the yield up to a five-year high of 5.33 percent, based
on charts some traders use to predict future movements, wrote
technical strategists at Citigroup Global Markets Inc.

``This is not a happy 4th July picture,'' said New York-
based Tom Fitzpatrick and London-based John Noyce in a research
note dated yesterday. ``We can revisit 5.33 percent again.''


Read more at Bloomberg Bonds News