Abitibi-Consolidated, Armor, Stillwater Mining, Terex: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges on
July 16. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Abitibi-Consolidated Inc. (ABY US) rose 4 cents, or 1.4
percent, to $2.89 in trading after the official close of U.S.
exchanges. The newsprint maker's largest shareholder, Third
Avenue Management LLC, opposes the company's merger with Bowater
Inc.


Read more at Bloomberg Stocks News

Broadcom probe looks at ex-CEO's behavior-WSJ

(Reuters) - In court papers, Kato claimed that Nicholas had a deep
dependence on cocaine and other drugs, regularly slept with
prostitutes and women other than his wife, spiked the drinks of
Broadcom customers with ecstasy, and ordered prostitutes for
customers while at trade shows in Las Vegas.




Steven Silverstein, Nicholas' attorney, denied all those
claims, saying Kato made them in a bid to extort money from
Nicholas.


Read more at Reuters.com Government Filings News

Blackstone says not using tax loopholes

(Reuters) - The newspaper said in an article on Friday that Blackstone
had devised a way for its partners to effectively avoid paying
taxes on $3.7 billion, the bulk of what it raised last month
from selling shares to the public. The New York Times
was not immediately available for comment.




Read more at Reuters.com Bonds News

Dixie Group restates results

(Reuters) - The restatement did not affect net income for the periods,
the carpet maker said in a statement.





Read more at Reuters.com Government Filings News

Loeb Partners retracts Mercer Insurance statement

(Reuters) - Loeb said it regretted the error and had refiled a document
with the U.S. Securities and Exchange Commission to reflect its
proper intentions.




Read more at Reuters.com Bonds News

Treasuries Post Weekly Gain Over Subprime Mortgage Crisis, Economic View

(Bloomberg) -- Treasuries posted a weekly gain as
the subprime mortgage crisis sent investors to the safety of
U.S. government debt and raised concern that housing weakness
will slow economic growth.

Benchmark 10-year note yields dropped more than 8 basis
points for the week. Treasuries strengthened today as a Commerce
Department report showed U.S. retail sales fell last month by
the most in almost two years.


Read more at Bloomberg Bonds News

Nymex Gas Increases on Buying by Distributors Seeking to Lock in Supplies

(Bloomberg) -- Natural gas in New York advanced as
institutions moved to lock in supplies before any mid-summer
price spikes and traders covered their short positions ahead of a
Midwest heat wave that could send fuel prices higher.

``It's the institutional buying'' usual for this time of
year sending prices higher today, said Wendell Tucker, a broker
for Capital Commodity Services Inc. in Minneapolis. ``The
market's too cheap.''


Read more at Bloomberg Energy News

Chicago CME Group opens for business after merger

(Reuters) - The CME Group -- created by the marriage of
cross-town rivals the Chicago Mercantile Exchange and the
Chicago Board of Trade -- greeted its first official day with
the ceremonial ringing of the opening bell for the Chicago
grains markets.




"The CME Group will solidify the great city of Chicago as
the risk-management capital of the world for many years to
come," Terrence Duffy, CME Group executive chairman, told
hundreds of grain traders at the world's largest grain exchange
just before ringing the opening bell for trading.


Read more at Reuters.com Mergers News

SRA, ManTech eyeing deals at up to $500 mln - execs

(Reuters) - SRA is exploring deals in the $400 million to $500 million
range and ManTech is scouting for acquisitions of $100 million
to $500 million, top company officials said in interviews with
Reuters.




SRA Chief Executive Stanton Sloane, who joined SRA this
year from Lockheed Martin Corp. , said he plans to be
very aggressive about M&As.


Read more at Reuters.com Mergers News

UPDATE 1-American Standard to consolidate ceramics making

(Reuters) - The company, which made the disclosure in a regulatory
filing with the U.S. Securities and Exchange Commission, said
it will discontinue the production of ceramics at its Queimados
manufacturing facility in Brazil.




It will relocate manufacturing of the remaining products to
more "cost-effective" locations, and expects the move to
eventually save about $7 million in costs annually, it said.


Read more at Reuters.com Mergers News

UK court delays Cadbury salmonella case sentencing

(Reuters) - A spokeswoman for Birmingham City Council said both councils had presented their cases in Birmingham Crown Court on Friday, and Cadbury's mitigation would start on the morning of Monday, July 16. Cadbury is expected to face a fine over the case.




In June 2006, Cadbury admitted to the salmonella problem at one of its UK plants, and recalled more than 1 million chocolate bars in the UK and Irish markets, costing 30 million pounds , as they could contain minute traces of salmonella.


Read more at Reuters.com Hot Stocks News

Spain forgives 384 mln euros poor country debt

(Reuters) - Spain said on Friday it will forgive a further 384 million euros it is owed by poor countries in Africa and Latin America that was contracted before 2004.

In a statement, the government said this latest operation takes Spain's debt forgiveness to 26 highly-indebted poor countries (HIPC) to 3.64 billion euros and makes Spain the first country to make December 31, 2003 its cut off point for debt forgiveness.


Read more at Reuters Africa

ABN suitors seen moving quickly on takeover plans

(Reuters) - Both suitors have been given a deadline of July 23 to make their offers.




RBS and its partners -- Santander and Fortis -- plan to revise their offer to exclude LaSalle, a source familiar with the consortium told Reuters on Thursday.


Read more at Reuters.com Mergers News

Treasuries Little Changed as Concern Over Subprime Mortgage Losses Eases

(Bloomberg) -- Treasuries were little changed as
stocks indexes extended records, suggesting concern over the
subprime mortgage crisis has eased.

U.S. notes pared earlier gains after a private report
showed confidence among U.S. consumers unexpectedly rose from a
10-month low. Lehman Brothers Holdings Inc., the biggest
underwriter of mortgage bonds, said the worst of the global
credit market rout caused by subprime defaults is over and
investors should buy European investment-grade debt.


Read more at Bloomberg Bonds News

Jury finds Conrad Black guilty of criminal fraud

(Reuters) - The verdict came after nearly 15 weeks of testimony in federal court. Black, a member of Britain's House of Lords, could face decades in prison and millions in fines.




Black was found guilty of four of 13 charges.


Read more at Reuters.com Business News

RPT-Medtronic neck disc as good as fusion-US FDA staff

(Reuters) - The FDA released the staff analysis ahead of an advisory
panel meeting on Tuesday to review the device.




Read more at Reuters.com Government Filings News

GE profit up 9.6 percent, to sell subprime unit

(Reuters) - Those businesses overshadowed weakness at the company's loss-making WMC Mortgage subprime lending unit, which is being put on the block.




"They had a very solid quarter, all the drivers for GE of late definitely came through," said Perry Adams, senior portfolio manager at Huntington Private Financial Group, of Traverse City, Michigan, which manages about $12 billion in asset and holds GE shares.


Read more at Reuters.com Business News

Mexico stocks up on robust U.S. consumer sentiment

(Reuters) - The Reuters/University of Michigan Survey of Consumers said
its preliminary July consumer sentiment index came in at 92.4,
well above a median forecast of 86.0 and its highest since
January.




Mexico sends nearly 90 percent of its exports to the United
States, and its economy is tightly linked to the spending
habits of U.S. consumers.


Read more at Reuters.com Bonds News

US STOCKS-Wall St edges down after retail, import data

(Reuters) - The Dow Jones industrial average was down 1.38
points, or 0.01 percent, at 13,860.35. The Standard & Poor's
500 Index was down 1.59 points, or 0.10 percent, at
1,546.11. The Nasdaq Composite Index was down 3.31
points, or 0.12 percent, at 2,698.42.




Read more at Reuters.com Bonds News

UPDATE 1-Cross Country buys clinical research firm for $19.6 mln

(Reuters) - Assent Consulting provides clinical research, biostatistics
and drug safety professionals to companies in the
pharmaceutical and biotechnology industries.




The healthcare staffing company said it would also pay an
additional amount up to $4.9 million based on Assent's 2007 and
2008 performance.


Read more at Reuters.com Mergers News

US stock indexes flat as data offsets GE news

(Reuters) - U.S. stocks were little changed on Friday as renewed worries about economic growth and inflation offset news of General Electric's expanded share repurchase plan and earnings.

A government report showed retail sales suffered their biggest monthly drop in nearly two years in June as the housing market slump took its toll on consumers.


Read more at Reuters Africa

Gold Heads for Biggest Weekly Gain in Six on Dollar's Slide; Silver Falls

(Bloomberg) -- Gold, little changed in New
York, headed for the biggest weekly gain in six as a
decline in the value of the dollar increased demand for the
precious metal as an alternative investment. Silver fell.

Gold generally moves in the opposite direction of the
U.S. currency, which fell to a record low against the euro.
Before today, gold had gained 4.8 percent this year while
the euro had climbed 4.5 percent against the dollar.


Read more at Bloomberg Commodities News

US STOCKS-Futures flat as data offsets GE-led gain

(Reuters) - NEW YORK, July 13 - U.S. stock index futures were
little changed on Friday after data showing a drop in retail
sales and a gain in import prices in June revived worries about
economic growth and inflation.




The data caused futures to trim earlier gains sparked by
news General Electric had expanded its share repurchase
plan. The turnabout threatened to stall the market's advance
after Thursday's record-setting rally.


Read more at Reuters.com Bonds News

Dollar Slumps to Record Low Against Euro After U.S. Retail Sales Decline

(Bloomberg) -- The dollar dropped to a record low
against the euro and slumped versus the yen after a government
report showed retail sales fell last month by more than analysts
expected.

The data may add to concern that the U.S. economy will
slow, lifting speculation the Federal Reserve will cut borrowing
costs this year.


Read more at Bloomberg Currencies News

GLOBAL MARKETS-Stocks, dollar rise on fresh taste for risk

(Reuters) - The calming of fears over possible spillover effects from
troubles in the U.S. subprime mortgage market -- which caters to
borrowers with poor credit histories -- were also mirrored in
European government bond markets as debt prices fell.




The iTraxx Crossover index , the most widely
watched barometer of European credit sentiment, also entered
calmer waters after extreme subprime-related jitters.


Read more at Reuters.com Economic News

Moody's Investigates Asian Banks for Holdings of Subprime Mortgages Bonds

(Bloomberg) -- Moody's Investors Service is
investigating Asian banks for holdings linked to subprime loans,
which caused losses in mortgage-backed bonds in the U.S.,
Moody's analyst Deborah Schuler said.

``We're in the process of checking the banks we rate in
Asia for investments in those sectors,'' Schuler said. ``We'd be
quite surprised to find that anybody had a number big enough
that it's going to cause even a tiny bit of pain.''


Read more at Bloomberg Bonds News

Risk appetite revives yen-funded carry trades

(Reuters) - The yen hit a record low against the euro on Friday, weighed down by the prospect of Japanese interest rates staying ultra low for some time, leaving the yen as a cheap source of borrowing for purchases of higher yielding currencies.

Abating concerns about troubles in the U.S. subprime mortgage market spilling over into slower U.S. economic growth helped support the dollar and heaped further pressure on the yen, breathing fresh life into flagging risk appetite.


Read more at Reuters Africa

S.Africa 3-month T-bill discount rate down to 9.05 pct

(Reuters) - The average discount rate for South African three-month Treasury Bills decreased to 9.05 percent on Friday, the Reserve Bank said.

The average yield was also down at 9.26 percent and applications for the 2.3 billion rand of bills on offer totalled 6.211 billion rand.


Read more at Reuters Africa

U.K. Stocks Gain, Led by Royal Bank of Scotland, Vodafone, Barclays

(Bloomberg) -- U.K. stocks advanced, led by
Vodafone Group Plc after UBS AG increased its price estimate for
shares of the world's largest mobile-phone company.

Royal Bank of Scotland Group Plc rose after a Dutch court
cleared ABN Amro Holding NV's sale of its LaSalle Bank. The
ruling is a setback for a Royal Bank of Scotland-led bid for the
Amsterdam-based bank in the world's biggest banking takeover.


Read more at Bloomberg Stocks News

Shares set to open little changed, GE in focus

(Reuters) - U.S. stocks surged on Thursday, with the Dow hitting a record on its biggest point gain since 2002 after healthy sales from retailers reassured investors about consumer spending and miner Rio Tinto's bid for Alcan raised the prospect of more consolidation.




On Thursday, the S&P 500 gained 1.9 percent, the Dow Jones put on 2.1 percent and the Nasdaq rose 1.9 percent.


Read more at Reuters.com Hot Stocks News

U.S. Stock-Index Futures Are Little Changed; GE Declines, Alcoa Advances

(Bloomberg) -- U.S. stock-index futures were little
changed before General Electric Co. posts second-quarter
earnings, and the government releases a report that may show how
the consumer is coping with the housing crisis.

GE fell in Germany after announcing it will sell its
subprime mortgage unit. Separately, the world's second-biggest
company by market value may say profit increased.


Read more at Bloomberg Stocks News

Oil Rises as IEA Says World Crude Demand Will Gain 2.5 Percent Next Year

(Bloomberg) -- Crude oil rose after the International
Energy Agency said world oil demand will increase ``a robust'' 2.5
percent next year.

Demand will rise to 88.2 million barrels a day in 2008
``largely due to a weather-related rebound in the OECD and strong
demand in non-OECD countries,'' the agency, an adviser to oil-
consuming nations, said today in its monthly report.


Read more at Bloomberg Energy News

IEA Expects Greater Global Flexibility to Refine Heavy Crude Oil From 2008

(Bloomberg) -- The International Energy Agency, an
adviser to 26 oil-consuming nations, said refinery upgrades next
year will boost the potential to process heavier crude grades,
easing market tightness.

During the next five years, investment in equipment will
mean refiners will be better able to turn increasing quantities
of heavy crude and fuel oils into lighter products such as
diesel, the Paris-based IEA said in a report today. Global oil
demand will jump 2.5 percent next year to 88.21 million barrels
a day, it said.


Read more at Bloomberg Energy News

Zambia's Konkola agrees to wage deal with miners

(Reuters) - Zambia's Konkola Copper Mines (KCM) has signed a new labour deal that will give its unionised workers a 20-percent salary increase, a union official said on Friday.

Albert Mando, the general secretary of the National Union of Allied and Mining Workers (Numaw), said workers agreed to the deal after the company, majority-owned by London-based Vedanta Resources, raised its wage offer from 16 percent.


Read more at Reuters Africa

Blackstone Founders, Schwarzman May Avoid Paying Taxes on Gains From IPO

(Bloomberg) -- Blackstone Group LP's founders
including Stephen Schwarzman will eventually get back some, if
not all, of the taxes they pay on $3.7 billion in gains from the
management company's initial public offering last month.

Blackstone said in filings with the Securities and Exchange
Commission that it would apply a commonly used strategy that
requires a firm's new shareholders to return to the founders most
of the value of tax benefits created when the original partners
sold a portion of their interest in the company.


Read more at Bloomberg Bonds News

Tunisia aluminium firm plans $15.6 mln share sale

(Reuters) - Tunisian shaped aluminium maker Tunisie Profiles Aluminium (TPR) aims to raise 20.16 million dinars by floating 16.1 percent of its capital on the local stock market, a brokerage said.

TPR is offering 4.8 million new shares, 70 percent of them for foreign investors, at 4.20 dinars each, Amen Invest said on its Web site. Subscriptions will be open from July 18 to 24.


Read more at Reuters Africa