Cosmo Oil Plans to Restart Sakai Refinery's Gasoline Unit in Mid-August

(Bloomberg) -- Cosmo Oil Co., Japan's fourth-biggest
refiner, said it plans to restart a gasoline production unit at
its 80,000 barrels-a-day Sakai refinery in central Japan in the
middle of next month after an unscheduled shutdown.

The fluid catalytic cracker was shut on July 13 because of a
pipeline fault, spokesman Tatsuya Yano said by telephone in Tokyo
today. The unit is designed to process 24,000 barrels-a-day of
gasoil components into gasoline and other refined products.


Read more at Bloomberg Energy News

South Korea's Kospi Advances, Led by Samsung Electronics, LG Electronics

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.50 percent at 9:05 a.m.

The index of 731 companies traded on the Korea Exchange rose
9.66 to 1,947.56. Among the stocks in the index, 407 rose, 121
fell and 203 were unchanged.


Read more at Bloomberg Stocks News

California Gasoline Prices Decline as Refiners May Raise Fuel Production

(Bloomberg) -- Gasoline in the California wholesale
market dropped on signs refineries will increase fuel
production.

California-blend reformulated gasoline, known as Carbob,
for prompt delivery in Los Angeles fell 4.25 cents, or 1.8
percent, to $2.3075 a gallon at 3:38 p.m. New York time,
according to data compiled by Bloomberg.


Read more at Bloomberg Energy News

UPDATE 1-UnionBanCal faces fine, reports lower profit

(Reuters) - The bank, which also reported that second-quarter earnings
fell 10 percent, said it had been told by the Office of the
Controller of the Currency it would impose a cease-and-desist
order related to some of the bank's internal controls.




"These regulatory actions relate to compliance issues that
occurred in the past," Masaaki Tanaka, chief executive of
UnionBanCal, said in a statement.


Read more at Reuters.com Market News

BHP, Kia Motor, Korea Zinc, TMB Bank, Unicom: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. 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.

Ambuja Cements Ltd. (ACEM IN): India's fourth-biggest cement
maker, which is partly owned by Holcim Ltd., may say today profit
in the quarter ended June increased 32 percent to 4.01 billion
rupees ($99.3 million), the median profit estimate of seven
analysts surveyed by Bloomberg News. Ambuja Cements was unchanged
at 138.8 rupees.


Read more at Bloomberg Stocks News

LG Electronics unit says U.S. sales up

(Reuters) - Earlier in the day, parent LG Electronics said it swung to its highest quarterly net profit in three years, thanks to its LCD venture and mobile phone sales.







Read more at Reuters.com Business News

Microsoft Q4 profit rises

(Reuters) - The company said on Thursday net profit was $3.04 billion, or 31 cents per diluted share, in its fiscal fourth quarter, up from $2.83 billion, or 28 cents per diluted share, in the year-earlier quarter. Sales rose 13 percent to $13.4 billion.




The earnings met analysts' expectations for profit of 31 cents per share while sales were slightly better than the forecast of $13.27 billion, according to Reuters Estimates.


Read more at Reuters.com Market News

Canadian dlr gets lift from oil prices, bonds flat

(Reuters) - Domestic bond prices rallied from earlier losses to finish
flat, following U.S. treasuries higher despite Canadian
wholesale trade data that topped expectations.




The Canadian dollar closed at C$1.0437 to the U.S. dollar,
or 95.83 U.S. cents, up from C$1.0446 to the U.S. dollar, or
95.73 U.S. cents, at Wednesday's close.


Read more at Reuters.com Bonds News

Soros reports 5.5 pct stake in Ultrapetrol-filing

(Reuters) - The filing also did not reveal the purpose behind the
transactions.




Read more at Reuters.com Government Filings News

UPDATE 3-SunPower posts loss, targets output growth

(Reuters) - Investors shrugged off higher-than-expected earnings before
special items and the company's statement that it was on track
to continue increasing its production.




SunPower reported a net loss of $5.3 million, or 7 cents
per share, compared with a year-earlier profit of $1.2 million,
or 8 cents per share.


Read more at Reuters.com Market News

American Home Mortgage won't comment about stock activity

(Reuters) - The exchange said American Home stated that its policy is not
to comment on unusual market activity or rumors.




American Home's shares fell as much as 23.3 percent on
Thursday on a rumor that a Wall Street investment firm had
withdrawn a credit facility, analysts said.


Read more at Reuters.com Bonds News

Microsoft 4th-qtr profit rises despite Xbox charge

(Reuters) - Halobutyl rubber is a synthetic rubber used in the inner linings of tires.



) Keywords: ENERGY EXXON CHEMICAL


Read more at Reuters.com Market News

Google net profit falls short of Wall St consensus

(Reuters) - Gross revenue rose 58 percent to $3.87 billion -- matching Wall Street's consensus forecast.




Wall Street was looking for a net profit, on average, of $3.01 per diluted share, according to Reuters Estimates. Excluding one-time items and stock option expenses, the consensus analyst forecast was $3.59 per share.


Read more at Reuters.com Market News

Crude Oil Rises to 11-Month High on Report of Reduced Exports From Angola

(Bloomberg) -- Crude oil rose to $76 a barrel in
New York, the highest in more than 11 months, after Total SA
said it would curb exports from the Dalia field in Angola
because of a mechanical failure.

Total declared force majeure, a legal clause meaning
deliveries are suspended because of conditions beyond the
company's control, after production at the 240,000-barrel-a-day
field was cut by 50 percent. Prices also rose because a
government report yesterday showed that U.S. gasoline supplies
declined last week.


Read more at Bloomberg Energy News

US STOCKS-Forecast-topping profits lift Wall Street

(Reuters) - NEW YORK, July 19 - U.S. stocks rose on Thursday
after forecast-topping results from companies such as IBM and
Juniper Networks shifted investor focus back on to earnings
optimism, away from subprime jitters.




Shares of International Business Machines Corp. ,
the world's largest technology services company, rose 4.2
percent after it posted a jump in quarterly profit and raised
its 2007 earnings forecast. For details, see [ID:nN18415715].


Read more at Reuters.com Bonds News

UST Option Trading Surges on Speculation Altria Will Buy Tobacco Producer

(Bloomberg) -- Trading in options to buy UST Inc.
shares jumped to the highest since December on speculation the
largest U.S. smokeless tobacco producer may be acquired by Altria
Group Inc., parent of the world's largest cigarette maker.

The number of call-option contracts traded in UST rose to
7,317, or 20 times the average during the prior 20 trading
sessions. UST shares added 97 cents to $53.74 in 2:07 p.m. New
York Stock Exchange composite trading.


Read more at Bloomberg Stocks News

US STOCKS-Profits boost Wall Street, led by IBM, Juniper

(Reuters) - NEW YORK, July 19 - U.S. stocks rose on Thursday
after earnings from companies such as IBM and Juniper Networks
topped expectations, moving the spotlight back onto profit
optimism, away from subprime mortgage concerns.




Shares of International Business Machines Corp. ,
the world's largest technology services company, rose 4.3
percent after it posted a jump in quarterly profit and raised
its 2007 earnings forecast. For details, see [ID:nN18415715].


Read more at Reuters.com Bonds News

New York City's traffic fee plan wins state OK

(Reuters) - The Democratic governor, at a news conference, said he believed the accord will give the federal government the "confidence" it needs to qualify the city for as much as $500 million in transportation aid.




Read more at Reuters.com Bonds News

Dow Jones quarterly profit falls, hurt by charges

(Reuters) - Second-quarter profit fell to $21 million, or 25 cents a share, from $28.8 million, or 34 cents a share, a year earlier.




The latest results include a charge of 13 cents per share for stock-based compensation expenses after Dow Jones' share price jumped from around $36 to $60 in early May following news that Rupert Murdoch's News Corp. had made a $5 billion bid for the company.


Read more at Reuters.com Hot Stocks News

Husky Energy's Newly Acquired Lima, Ohio Oil Refinery Has Electrical Fire

(Bloomberg) -- Husky Energy Inc., the Canadian oil
company controlled by Hong Kong billionaire Li Ka-shing, said an
electrical fire early this morning reduced production by 75
percent at its newly acquired refinery in Lima, Ohio.

The fire, which began after midnight local time, has been
put out, company spokesman Graham White said today in a
telephone interview. He said Husky hasn't determined how long
fuel output will be slowed.


Read more at Bloomberg Energy News

RPT-Philly Fed factory growth slumps in July

(Reuters) - Any reading above zero indicates growth in the region's
manufacturing sector.




Read more at Reuters.com Bonds News

Canadians acquiring a taste for maple bonds

(Reuters) - Maple bonds are foreign debt issued in Canadian dollars,
and have become a growing choice for investors looking to
diversify their holdings.




"Maples are approximately 50 percent of new issue supply in
the Canadian marketplace, year-to-date 2007," said Susan
Rimmer, managing director at Merrill Lynch.


Read more at Reuters.com Bonds News

Bank of America net up 5 percent, tops views

(Reuters) - Second-quarter net income increased to $5.76 billion, or $1.28 per share, from $5.48 billion, or $1.19 a share, a year earlier.




Excluding items, profit was $1.30 per share, 10 cents above the average analyst expectation, according to Reuters Estimates. Revenue rose 7 percent to $19.56 billion, topping the average Wall Street estimate of $18.49 billion.


Read more at Reuters.com Business News

Imperial, Exxon Mobil win Beaufort Sea acreage

(Reuters) - Under the license terms, Imperial must spend at least
C$73.1 million, it said.







Read more at Reuters.com Mergers News

Gold, Silver Gain as Dollar's Slump Boosts Metals' Appeal as Investment

(Bloomberg) -- Gold and silver gained for a second
day in New York on speculation a decline in the value of the
dollar will boost the appeal of precious metals as alternative
investments.

Gold generally moves in the opposite direction of the
dollar. The U.S. currency fell to a record against the euro
yesterday on speculation that interest rates will rise faster in
Europe after Federal Reserve Chairman Ben S. Bernanke scaled
back forecasts for U.S. economic growth.


Read more at Bloomberg Commodities News

Brazil's Real Rises on Expectations Faster Chinese Growth to Boost Exports

(Bloomberg) -- Brazil's currency rose to a seven-
year high as a report showing economic growth quickened in China
in the second quarter fueled expectations that demand for
Brazilian exports will keep rising.

Growth in China, the third-biggest buyer of Brazilian
exports, accelerated to 11.9 percent in the second quarter, the
fastest pace in 12 years, from 11.1 percent in the first quarter,
the statistics bureau said in Beijing today. China imports
Brazilian commodities including iron ore, soybeans and diamonds.


Read more at Bloomberg Currencies News

UPDATE 1-Nash Finch 2nd-qtr profit more than doubles

(Reuters) - Net earnings for the second quarter ended June 16 were $9.6
million, or 70 cents per share, up from $4.1 million, or 31
cents per share, a year ago.




Analysts on average expected a profit of 63 cents per
share, according to Reuters Estimates.


Read more at Reuters.com Market News

Textron profit soars, raises forecast, dividend

(Reuters) - Textron shares rose 7 percent on the news, notching a new lifetime high of $125.24, after its board approved a 2-for-1 stock split and raised its dividend 19 percent.




Textron, which also makes products ranging from Bell helicopters to EZ-GO golf carts, reported profit of $210 million, or $1.66 per share, compared with $69 million, or 53 cents per share, a year earlier.


Read more at Reuters.com Market News

Safeway profit down, shares fall

(Reuters) - The No. 3 U.S. grocer, which has been remodeling stores to try to increase sales, narrowed its forecast for full-year earnings, saying it was "on track" to post results toward the top end of its previous forecast range.




"I'm sure some of you, maybe all of you, would prefer that we increase our guidance," said Chief Executive Officer Steve Burd on a conference call with analysts. "But as good as we feel about the back half, and we're off to a good start, we think it's more prudent to simply narrow that range."


Read more at Reuters.com Hot Stocks News

UPDATE 2-Bernanke says optimistic on Basel II consensus

(Reuters) - WASHINGTON, July 19 - Federal Reserve Chairman
Ben Bernanke said on Thursday he remains optimistic top U.S.
banking regulators will reach a consensus on an international
capital adequacy plan under the Basel II framework.




"I think the Basel II approach, with perhaps with some
modifications but in essence what was agreed upon with the
international banking authorities, is the right approach for
providing that kind of capital base protection," Bernanke told
the Senate Banking Committee.


Read more at Reuters.com Bonds News

UPDATE 1-First Horizon National profit falls

(Reuters) - The bank is hoping to boost profitability by focusing more
on Tennessee and decreasing focus on some markets and
businesses outside that state. First Horizon said it is looking
to sell 34 branches in Atlanta, Baltimore, Dallas and northern
Virginia.




The bank said it earned 17 cents, or $22.1 million in the
second quarter, compared with 82 cents, or $104.3 million, in
the year ago period.


Read more at Reuters.com Bonds News

TREASURIES-Bonds fall on stock gains, profit-taking

(Reuters) - NEW YORK, July 19 - U.S. Treasuries eased on
Thursday as a a rising stock market offered investors a
convenient excuse to book profits on a week of gains.




A sharper-than-expected drop in weekly jobless claims also
contributed to the decline. "Inflation pressures from tight
capacity utilization will remain a concern for the Fed," said
T.J. Marta, fixed income strategist at Royal Bank of Canada.


Read more at Reuters.com Bonds News

TPG plans to buy into Russian grocer -paper

(Reuters) - MOSCOW, July 19 - Private equity fund TPG Capital is considering buying into Moscow's largest grocery chain Seventh Continent in a deal worth $1.1-$1.2 billion, Kommersant business daily reported on Thursday.



Both Seventh Continent and TPG declined to comment on the report. One source familiar with the matter said that there was no offer on the table.


Read more at Reuters.com Mergers News

REFILE-Bombardier gets $590 million India train car order

(Reuters) - MONTREAL, July 19 - Bombardier Inc.
said on Thursday it won a $590 million order from Delhi Metro
Rail Corp. to supply 340 of its Movia metro cars.




The Canadian train and plane maker said deliveries are
scheduled for the last quarter of 2008 to 2010 to provide
public transport during the Commonwealth Games slated for New
Delhi in October 2010.


Read more at Reuters.com Mergers News

Sprint, Clearwire to build national WiMAX network

(Reuters) - Sprint expects to begin the initial stage of its construction by the end of 2007 and both companies expect to launch commercial service in the first half of 2008.




Sprint has said it expected to invest up to $800 million in 2007 and between $1.5 billion and $2 billion in 2008 relating to the WiMAX network. It did not say if the Clearwire agreement would change its spending plans.


Read more at Reuters.com Business News

U.S. Stocks Rise on Earnings; IBM Leads Dow Average, S&P 500 to Records

(Bloomberg) -- U.S. stocks gained after
International Business Machines Corp. and Bank of America Corp.
reported earnings that topped analysts' estimates.

IBM, the world's biggest provider of computer services,
climbed the most since 2003 and led the Standard & Poor's 500
Index and Dow Jones Industrial Average to records after saying
software acquisitions boosted results. Bank of America, the
second-largest U.S. bank, rose on private-equity gains and
investment-banking revenue growth.


Read more at Bloomberg Stocks News

UPDATE 2-Dow Jones quarterly profit falls, hurt by charges

(Reuters) - NEW YORK, July 19 - Dow Jones & Co. Inc. , which soon could be bought by News Corp. for $5 billion, said one-time charges lowered quarterly profit, while its digital business pushed up revenue despite lower ad sales at its flagship Wall Street Journal.



Second-quarter profit fell to $21 million, or 25 cents a share, from $28.8 million, or 34 cents a share, a year earlier.


Read more at Reuters.com Market News

Tin Rises to 18-Year High on Production-Shortfall Concern; Zinc Advances

(Bloomberg) -- Tin led gains in London, rising to
the highest since at least 1989, on speculation that supply
disruptions in Indonesia and Bolivia and increasing demand will
create a shortage of the metal. Lead climbed to a record.

Smelters in Indonesia, the world's second-largest tin
producer, after China, have been restarting production following
a government crackdown on illegal mining earlier this year. The
Bolivian government seized a smelter owned by Swiss commodity
trader Glencore International AG in February.


Read more at Bloomberg Commodities News

Asia Fuel Oil Rises to Record Singapore Supplies Decline on Lower Imports

(Bloomberg) -- Asian benchmark fuel oil prices rose
to a record as inventories in Singapore, Asia's biggest
petroleum trading center, fell on concern about declining
imports in August from Europe and South America.

Benchmark 180-centistoke fuel oil for immediate delivery in
Singapore gained $14.25, or 3.7 percent, to $397.50 a metric ton,
according to Bloomberg data. The price of 380-centistoke fuel
oil, mainly used as marine fuel, rose $15.50, or 4.1 percent, to
$392 a ton. Dubai crude, an Asian benchmark, gained $1.96, or
2.9 percent, to $70.54 a barrel.


Read more at Bloomberg Energy News

UPDATE 1-Ametek reports higher profit, raises outlook

(Reuters) - The company also raised its profit outlook for the year,
citing current market conditions and the strong second
quarter.




Net income rose to $58 million, or 54 cents per share, in
its second quarter, from $46.5 million, or 43 cents per share,
a year earlier. That was two cents above what analysts polled
by Reuters Estimates had expected.


Read more at Reuters.com Market News

Manpower earnings double as European demand strong

(Reuters) - Analysts, on average, had expected profit of $1.20 per
share, according to Reuters Estimates.




Revenue was up 13.6 percent to $5.0 billion, in line with
Wall Street forecasts.



Read more at Reuters.com Market News

UPDATE 1-SunTrust quarterly profit rises on one-time gain

(Reuters) - NEW YORK, July 19 - SunTrust Banks Inc. , the seventh-largest U.S. bank, posted better-than-expected quarterly profit on Thursday, helped by cost cutting and a gain from selling a portion of its Coca-Cola Co. stock holdings.



Second-quarter net income for the Atlanta-based company was $673.9 million, or $1.89 a share, up from $544 million, or $1.49 per share, a year earlier.


Read more at Reuters.com Bonds News

Dow Jones quarterly profit falls, revenue rises

(Reuters) - NEW YORK, July 19 - Dow Jones & Co. Inc. , which soon could be bought by News Corp. for $5 billion, said one-time charges lowered quarterly profit, while its digital business pushed up revenue despite lower ad sales at its flagship Wall Street Journal.



Second-quarter profit fell to $21 million, or 25 cents a share, from $28.8 million, or 34 cents a share, a year earlier.


Read more at Reuters.com Mergers News

European Stocks Advance; SAP, Roche, Vodafone, Actelion Lead the Gains

(Bloomberg) -- European stocks rose for the first
time in three days after profit from SAP AG and Roche Holding AG
beat analysts' estimates.

SAP and Roche joined Novartis AG among members of the Dow
Jones Stoxx 50 Index to report better-than-expected earnings so
far in this earnings season. Vodafone Group Plc gained after the
mobile-phone company said it added more subscribers than analysts
anticipated. Actelion Ltd. rallied the most in two years after
the biotechnology company said net income almost doubled.


Read more at Bloomberg Stocks News

PNC Financial second-quarter profit rises

(Reuters) - Net income for the Pittsburgh-based company rose to $423 million from $381 million. Earnings per share fell to $1.22 from $1.28 because PNC had more shares outstanding.



Adjusted earnings rose to $434 million from $386 million, and fell to $1.25 from $1.30 on a per-share basis.


Read more at Reuters.com Market News

WESCO International posts higher quarterly net profit

(Reuters) - Analysts were expecting the provider of electrical
construction products to post a profit of $1.27 a share, before
items, according to Reuters Estimates.




Shares of Wesco have gained about 10 percent in 2007,
underperforming the Dow Jones U.S. Electrical Component
Equipment Index , which has risen about 20 percent
year-to-date.


Read more at Reuters.com Market News

Pakistan's Stocks Fall on Terror Attack Concerns: World's Biggest Mover

(Bloomberg) -- Pakistan's stocks dropped, posting
their biggest two-day decline in 11 months, as concern mounted
over the series of deadly terrorist attacks since al-Qaeda
demanded revenge for an army assault on Islamabad's Red Mosque.

A bomb blast in southwestern Pakistan killed at least 20
people today, taking the death toll from terrorist attacks to
more than 120 since the military stormed the mosque last week.


Read more at Bloomberg Stocks News

Robusta Coffee Advances in London on Increased Buying From Roasters

(Bloomberg) -- Robusta coffee climbed in London on
increased demand from roasters for the bitter-tasting beans used
to make espresso and instant coffee.

Vietnam, the world's biggest grower of robusta, has
exported almost all of its last harvest, while stockpiles in
European warehouses have fallen 12 percent this year, pushing
prices to a nine-year high of $1,945 a ton on June 22.


Read more at Bloomberg Commodities News

Syron, Chanos, Faber Say the Worst is Yet to Come for Mortgage-Backed Debt

(Bloomberg) -- The worst is yet to come for mortgage
bonds as more holders are forced to sell the securities in a
falling market, Freddie Mac Chief Executive Officer Richard Syron
and investors James Chanos and Marc Faber said.

``Unfortunately I don't think we have hit bottom,'' Syron,
whose company is the second-largest source of money for home
loans behind Fannie Mae, said in an interview yesterday from
McLean, Virginia. ``Things are going to get worse.''


Read more at Bloomberg Bonds News

Virgin America to sell first tickets Thursday

(Reuters) - Virgin America will initially operate two daily flights between its San Francisco hub and New York's John F. Kennedy International Airport, and five daily flights between San Francisco and Los Angeles.




Operating a fleet of new Airbus A319s and A320s and promising luxury amenities, Virgin America is taking aim at JetBlue Airways and other carriers that promote customer service.


Read more at Reuters.com Business News

U.K. Natural Gas Declines on Forecast That Supplies May Outstrip Demand

(Bloomberg) -- U.K. natural gas costs fell as
forecasts indicated growing supplies may outstrip expected
consumption of the fuel today. Gas in mainland Europe and U.K.
power prices also dropped.

Gas for same-day delivery declined 4.8 percent to 27 pence a
therm at 9:20 a.m. London time, according to prices on Bloomberg
from the broker Spectron Group Plc. That's equivalent to $5.50 a
million British thermal units. A therm is 100,000 Btus. Gas for
delivery a day ahead fell as much as 9.3 percent to 26.75 pence a
therm, according to Spectron.


Read more at Bloomberg Energy News

Uganda halts uranium exploration deals - report

(Reuters) - Uganda's President Yoweri Museveni has halted new uranium exploration deals with private companies while his government sets up an atomic energy unit, a state-owned newspaper reported on Thursday.

Foreign firms including Canada's Uranium Hunter are exploring in the east African country, with most interest so far focused near the southeastern shores of Lake Albert.


Read more at Reuters Africa

GLOBAL MARKETS-Equities rebound but credit worries remain

(Reuters) - Credit spreads in Europe tightened after widening some 30
basis points a day earlier.




The FTSEurofirst 300 index of top European shares
rose 0.8 percent, as did London's FTSE 100 index ,
Frankfurt's DAX and Paris's CAC 40 .


Read more at Reuters.com Bonds News

Shanghai copper rises 2.3 pct, tin soars

(Reuters) - Shanghai copper rose more than 2 percent on Thursday, buoyed by demand for physical material and industrial action at key mines in Latin America amid an already tight market and strong Chinese economic growth data.

Three-month tin on the London Metal Exchange hit an all-time high of $15,530 on the electronic Select trading system, extending gains the previous day as supply shortfalls spurred fund buying.


Read more at Reuters Africa

UPDATE 2-Sandvik Q2 beats forecasts on strong demand

(Reuters) - STOCKHOLM, July 19 - Swedish engineering firm
Sandvik reported a bigger-than-expected rise in
second-quarter pretax earnings on Thursday on the back of strong
demand across its main markets.




Pretax earnings rose to 3.80 billion Swedish crowns from 2.7 billion a year ago, beating the highest
estimate of 3.64 billion in a Reuters poll of 16 analysts, whose
mean forecast was 3.46 billion.


Read more at Reuters.com Market News

U.K. Pound May Advance Versus Dollar on Outlook for BOE Rates, U.S. Growth

(Bloomberg) -- The pound may rise against the dollar
on speculation the Bank of England will keep raising interest
rates as the Federal Reserve keeps borrowing costs on hold.

The U.K. currency advanced to a 26-year high versus the
dollar after the Fed yesterday trimmed its forecast for economic
growth and Bear Stearns Cos. reported losses on hedge funds that
bet on bonds backed by subprime mortgages. Investors expect the
BOE to raise rates half a percentage point by year-end, futures
trading shows.


Read more at Bloomberg Currencies News