Honda Q1 rises on brisk car sales, lifts forecasts

(Reuters) - The result was ahead of an average estimate of 159.3 billion yen from three brokerages polled by Reuters.




For the year to March 31, 2008, Tokyo-based Honda raised its net forecast to 625 billion yen from 575 billion yen, and operating profit to 880 billion yen from 770 billion yen to reflect a weaker yen.


Read more at Reuters.com Business News

European Stocks May Drop; Credit Suisse, Allianz, Atos Origin Might Fall

(Bloomberg) -- European stocks may fall after U.S.
benchmarks tumbled the most in four months yesterday on concern
defaults on home loans are rising.

Credit Suisse Group, Allianz SE and Royal Bank of Scotland
Group Plc might drop after their U.S.-traded securities declined.
Atos Origin SA may also slide after Deutsche Bank AG recommended
selling shares in France's second-largest computer services
company. GlaxoSmithKline Plc may be active before its second-
quarter earnings report.


Read more at Bloomberg Stocks News

Yen Retreats From 2-Month High Versus Dollar as Individual Investors Sell

(Bloomberg) -- The yen fell from a two-month high
against the dollar as Japanese individual investors sold the
currency to invest in higher-yielding assets.

The yen has declined against all of the 16 most-active
currencies in the past three months as the lowest borrowing costs
among major economies encouraged so-called carry trades. An
Australian government report today showed faster-than-expected
inflation, sparking speculation of a rate increase next month and
pushing the local dollar to the strongest since 1989.


Read more at Bloomberg Currencies News

Darling to Reject U.K. Company Protection From Foreign Government Funds

(Bloomberg) -- Chancellor of the Exchequer Alistair
Darling will say today that British companies will receive no
special protection against takeovers by foreign government-
controlled investment funds, restating the nation's commitment
to free trade.

Darling will underline Britain's position in a speech in
London later today. He will say that the government will
continue to welcome foreign investment and will call on other
countries to resist protectionism to ensure capital is allocated
efficiently.


Read more at Bloomberg Bonds News

US court approves $100 mln Ameriprise settlement

(Reuters) - The company has denied any wrongdoing.




Under terms of the settlement, Ameriprise will pay $100
million to individuals who purchased financial advice or other
services, and will also be responsible for settlement costs
totalling $15 million to $18 million, plaintiffs' lawyers said
in a statement sent to the media.


Read more at Reuters.com Government Filings News

UPDATE 1-Chrysler's bankers may take on debt-WSJ

(Reuters) - Chrysler is being spun off by German parent DaimlerChrysler
in a $7.4 billion deal with Cerberus Capital
Management [CBS.UL].




Chrysler's bankers -- including J.P. Morgan Chase & Co.
, Goldman Sachs Group Inc. , Citigroup Inc.
, Bear Stearns Cos. and Morgan Stanley --
have spent the past month trying to convince investors to buy
$12 billion in loans for Chrysler's auto business and $8
billion in loans for its financial arm, according to the
report.


Read more at Reuters.com Mergers News

Hyundai Motor May Say Net Income Rose on Higher South Korean Auto Demand

(Bloomberg) -- Hyundai Motor Co., South Korea's
third-largest exporter, will probably report the first increase
in profit in six quarters after selling more cars at home.

Net income at the Seoul-based automaker probably rose 30
percent to 502 billion won ($549 million) in the three months
ended June 30 from 387.3 billion won a year earlier, according
to the median estimate of 11 analysts surveyed by Bloomberg.
Sales probably gained 11 percent to 7.77 trillion won.


Read more at Bloomberg Emerging Markets News

JGB futures hit 7-wk high on US credit market woes

(Reuters) - "The market's focus is not on the BOJ but U.S. credit market
developments," said Kenro Kawano, a JGB strategist at Credit
Suisse. "I think the market should be very firm and rise
further."




Kawano said the widening of corporate bond spreads abroad was
also starting to spark a bit of weakness in Japanese credit
markets.


Read more at Reuters.com Bonds News

UPDATE 1-Japan trade surplus jumps on solid exports

(Reuters) - Imports rose a less-than-expected 10.7 percent, with the
nation's trade surplus rising 53.4 percent to 1.23 trillion yen,
far above a consensus market forecast for 948.5 billion yen.




"Exports were stronger than expected. In terms of
year-on-year changes, export growth seems to have hit bottom in
March-April and perked up gradually in May and June, in tandem
with a recovery in the U.S. manufacturing cycle," said Yoshimasa
Maruyama, an economist at BNP Paribas.


Read more at Reuters.com Economic News

JGB futures hit seven-week high on subprime worries

(Reuters) - March euroyen futures climbed 2 basis points to a one-month
high of 98.910.




Read more at Reuters.com Bonds News

Fed's Poole-Inflation moderating but not decisive

(Reuters) - Poole also said there was no need to make a "trade off" now
between growth and inflation.




Read more at Reuters.com Bonds News

More refinements urged before Sarbanes-Oxley vote

(Reuters) - The U.S. Securities and Exchange Commission and the Public
Company Accounting Oversight Board, which polices corporate
auditors, recently approved new guidelines aimed at reducing
costs for complying with the rule's internal control section,
known as Section 404.




The SEC will vote on Wednesday on whether to approve the
new standard, called Auditing Standard No. 5, or AS5, for
auditing internal controls under Sarbanes-Oxley.


Read more at Reuters.com Government Filings News

Exporters, Kia, MegaStudy, Posco, SK Energy: 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 slid 0.79 point to 1,992.26. The Kosdaq lost
0.7 percent to 813.47. Kospi 200 futures expiring in September
gained 0.1 percent to 253.75, while the underlying index added 0.1
percent to 252.61.


Read more at Bloomberg Stocks News

Bausch & Lomb asks AMO to revise takeover bid

(Reuters) - Bausch & Lomb said it had concerns that AMO would have trouble getting shareholder approval for its proposed $4.23 billion acquisition.




AMO's third-largest shareholder, ValueAct Capital, earlier this month said it opposed the company's takeover bid.


Read more at Reuters.com Business News

UPDATE 1-Carter's posts quarterly loss on charges

(Reuters) - The company lowered its 2007 earnings outlook, citing
continued "disappointing performance" of its OshKosh segments.




For the second quarter, Carter's posted a net loss of
$143.4 million, or $2.48 a share, compared with a profit of
$9.0 million, or 15 cents a share, last year.


Read more at Reuters.com Market News

UPDATE 1-Cerner posts higher Q2 earnings; sets Q3 view

(Reuters) - For the second quarter, the healthcare information
technology company posted net income of $31.1 million, or 37
cents a share, on revenue of $386.6 million.




The company had reported net income of $23.9 million, or 29
cents a share, on revenue of $330.6 million in the year-ago
period.


Read more at Reuters.com Market News

VIX lights up as stocks fall on housing worries

(Reuters) - The demand for options sent the VIX -- often called Wall
Street's fear gauge -- sharply up 10.35 percent to close at
18.55, its highest closing level since June 26.




The indicator on Tuesday posted a session peak of 19.09, a
level not seen since March 14. It has topped 19 only four times
in the past year: during the February 27 stock sell-off and
three times in March.


Read more at Reuters.com Bonds News

US STOCKS-Indexes tumble on profit, housing woes

(Reuters) - NEW YORK, July 24 - U.S. stocks tumbled on
Tuesday as profit misses from DuPont Co. and other
bellwether companies fueled worries about the housing slump and
its impact on the economy and earnings.




A gloomy housing outlook from USG Corp. , the
world's largest seller of gypsum wallboard for home building,
added to a negative tone. For details, see [ID:nN24431178].


Read more at Reuters.com Bonds News

Pogo Producing reports second-quarter net loss

(Reuters) - In the second quarter of 2007, Pogo had revenue of $222.9
million, down from 2006 second-quarter revenue of $237.5
million.





Read more at Reuters.com Market News

German Benchmark Index Declines, Led By E.ON, Deutsche Post, ThyssenKrupp

(Bloomberg) -- German stocks dropped, led by E.ON AG
after a report said the world's largest utility by sales is
facing delays with a project in the Czech Republic.

Shares of Deutsche Post AG, Europe's biggest postal service,
and ThyssenKrupp AG, the country's largest steelmaker, also fell.


Read more at Bloomberg Stocks News

Argentine Peso Falls to Four-Year Low on Weakening Exports, Bond Sales

(Bloomberg) -- Argentina's peso fell to more than a
four-year low, as the agricultural export season ends and sales
of local bonds boost the supply of pesos in South America's
second-largest economy.

``As agricultural export receipts sink, there's a reduced
flow of dollars into the economy,'' said Guillermo Estebanez, a
currency strategist at Banc of America Securities LLC in San
Francisco. ``There appears to be more selling of local bonds as
well.''


Read more at Bloomberg Currencies News

Kimberly-Clark profit up, view raised

(Reuters) - Second-quarter profit rose to $461.8 million, or $1 per share, from $377.6 million, or 82 cents per share, a year earlier.




Excluding items from cost-cutting plans and a restructuring announced in 2005, earnings increased to $1.04 per share from 95 cents.


Read more at Reuters.com Business News

CORRECTED - CORRECTED-IncrediMail says approached by several Internet firms

(Reuters) - BANGALORE, July 23 - Israel's IncrediMail Ltd.
, which develops software to customize e-mails, said it
was in talks with some Internet companies that have shown
interest in the firm.




"We have been approached by several... and we are talking
to a few," Jeff Holzmann, executive vice president of
IncrediMail, told Reuters by phone.


Read more at Reuters.com Mergers News

UPDATE 2-Can cholesterol go too low? Study sees cancer link

(Reuters) - WASHINGTON/LONDON, July 24 - Lowering cholesterol
as much as possible may reduce the risk of heart disease, but
with a price: taking it too low could raise the risk of cancer,
U.S. researchers reported on Tuesday.




Patients who took statin drugs to lower their cholesterol
had a slightly higher risk of cancer, although the study did
not show that the statin drugs themselves caused the cancer.


Read more at Reuters.com Government Filings News

FirstCity Financial posts Q1 loss, fall in Q4 profit

(Reuters) - For the fourth quarter ended Dec. 31, FirstCity earned $1.6
million, or 13 cents a share. In the same period a year ago, it
had earned $1.9 million, or 16 cents a share.





Read more at Reuters.com Market News

PepsiCo 2nd-qtr profit up, raises outlook

(Reuters) - NEW YORK, July 24 - PepsiCo Inc. posted a greater-than-expected quarterly profit on Tuesday on a lower tax rate and higher sales of Frito-Lay snacks.



The world's No. 2 soft-drink company reported earnings of $1.56 billion, or 94 cents per share, for its second quarter, ended June 16, up 13 percent from $1.38 billion, or 81 cents per share, a year earlier.


Read more at Reuters.com Market News

UPDATE 1-Synovus quarterly profit rises; cuts '07 earnings view

(Reuters) - The Columbus, Georgia-based financial services company said
second-quarter earnings rose to $162.8 million, or 50 cents a
share, compared with $152.8 million, or 47 cents a share, in
the year-ago quarter.




Analysts had expected the company to earn 48 cents a share
for the quarter, according to Reuters Estimates.


Read more at Reuters.com Market News

AT&T forecasts continued double-digit EPS growth

(Reuters) - AT&T earlier reported adjusted earnings of 70 cents per
share, up from 58 cents in the same quarter a year earlier.





Read more at Reuters.com Market News

CME profit rises as CBOT merger completed

(Reuters) - By Ros Krasny



CHICAGO, July 24 - CME Group Inc. reported higher second-quarter profit on Tuesday as the company focused on completing a merger between the two largest U.S. futures exchanges.


Read more at Reuters.com Market News

Gold hits 11-week high on record low dollar

(Reuters) - Gold hit an 11-week peak and silver rose to its highest in seven weeks on Tuesday, powered by the dollar that plunged to a new historic low against the euro.

Gold has gained about seven percent, or nearly $50, since a trough at the end of June. By 1403 GMT, spot gold stood at $684.05/684.65 a troy ounce after rising as high as $687.10, against $681.00/$681.80 in New York late on Monday.


Read more at Reuters Africa

Mexican stocks fall on Televisa plunge; peso off

(Reuters) - Televisa shares slipped 1.95 percent to
58.25 pesos in opening trading. The broadcaster's second
quarter profits dropped by 15 percent as advertising revenues
plummeted.




Read more at Reuters.com Bonds News

Aceto to redo testing for companion animal vaccine

(Reuters) - "The USDA, in fact, admitted to us that they had made a
mistake in approving the protocol," Aceto's Chief Executive
Leonard Schwartz said in a statement.





Read more at Reuters.com Government Filings News

ALCAN <AL.TO news release

(Reuters) - 941-8100)




Read more at Reuters.com Mergers News

Bowater loss grows as costs rise

(Reuters) - Excluding one-time items, loss for the quarter was $41.5 million, or 72 cents per share, compared with analysts' consensus forecasts for a loss of 80 cents, according to data compiled by Reuters Estimates.




The Canadian dollar rose about 7 percent versus the U.S. dollar during the quarter.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Western Union second-quarter earnings fall

(Reuters) - NEW YORK, July 24 - Western Union Co. , the world's largest payment transfer company, said on Tuesday second-quarter profit declined as the company faced higher expenses after its spin-off and revenue from domestic consumer money transfers fell.



Total revenue rose 8 percent as international money transfer revenue increased.


Read more at Reuters.com Market News

McDonald's posts loss after Latin America charge

(Reuters) - Excluding the Latin America charge, McDonald's earned 71
cents a share, in line with a better-than-expected forecast the
fast-food chain gave last week.




In April, McDonald's said it would sell about 1,600
restaurants in Latin America and the Caribbean to a franchisee
so it could focus resources on markets where it sees the
biggest opportunities for growth, such as China.


Read more at Reuters.com Market News

New York Leads Muni Borrowers as City's Debt Costs Fall After Upgrades

(Bloomberg) -- The city of New York and the state
of Minnesota are selling a combined $1.4 billion of fixed-rate
bonds in today's largest debt offerings by U.S. municipal
borrowers.

New York is offering bonds to institutional investors from
a $700 million deal managed by Morgan Stanley designed to
refinance higher-interest debt. Minnesota is taking bids from
investment banks seeking to underwrite $670 million of bonds,
the state's largest general obligation offering to date.


Read more at Bloomberg Bonds News

CP Rail profit slumps; wary of fuel, currency costs

(Reuters) - CP Rail, Canada's No. 2 railway which said last week that Brookfield Asset Management had approached it with a bid proposal, earned C$257.7 million , or C$1.64 a share, down from a profit of C$378.1 million, or C$2.37 a share, a year earlier.



CP Rail said it sees "significant challenges" in 2007 from rising fuel refining margins and the strengthening Canadian dollar, but expects to meet its target for higher revenues and profits.


Read more at Reuters.com Bonds News

FNB launches Mozambique operations

(Reuters) - First National Bank, a unit of South Africa's second biggest banking group, FirstRand, said on Tuesday it had launched its Mozambican operation, FNB Mozambique.

The launch follows parent company FirstRand's purchase of an 80 percent stake in Banco Desenvolvimento e Comercio (BDC) from majority shareholder Montepio Geral Group in Portugal and other shareholders.


Read more at Reuters Africa

Quest Diagnostics earnings rise

(Reuters) - Quarterly profit rose to $141.3 million or 73 cents per share, compared with $132 million or 66 cents per share a year ago.



Wall Street analysts had on average been forecasting 69 cents per share, according to Reuters Estimates.


Read more at Reuters.com Market News

Tellabs second-quarter profit and revenue fall

(Reuters) - NEW YORK, July 24 - Network equipment maker Tellabs Inc. said on Tuesday its second-quarter net profit fell 45 percent as sales dropped.



Earnings fell to $30 million, or 7 cents per share, from $54 million, or 12 cents, a year earlier.


Read more at Reuters.com Market News

LabCorp quarterly profit rises

(Reuters) - Excluding special items, earnings were $1.09 per share.





Read more at Reuters.com Market News

US STOCKS-Futures slip; DuPont, Texas Instruments weigh

(Reuters) - In one of the heaviest reporting days on the calendar,
DuPont, the No. 2 U.S. chemical company, posted quarterly
profit that missed Wall Street's forecasts. For details, see
[ID:nN24408959].




DuPont joins Caterpillar among components of the
Dow industrials whose profits have fallen short of estimates,
raising concerns that equities can sustain their steady climb
that drove the Dow to 14,000 for the first time last week.


Read more at Reuters.com Bonds News

BP Sees CATS North Sea Pipeline Down for `Number of Weeks,' Inglis Says

(Bloomberg) -- BP Plc expects the CATS pipeline
that carries North Sea gas to the U.K. to remain closed for a
``number of weeks,'' Andy Inglis, head of exploration and
production, said today at a press conference in London.

BP suspended operations on July1 at the Central Area
Transmission System pipeline, which carries gas to the Teesside
sub-terminal in northeastern England, after discovering damage
to the pipe's concrete covering, possibly caused by a ship's
anchor.


Read more at Bloomberg Energy News

Kenya shilling eases vs dollar due end of month demand

(Reuters) - The Kenyan shilling weakened slightly against the dollar on Tuesday due to end-of-month demand mainly from the energy sector, dealers said.

At 0845 GMT, commercial banks traded the Kenyan unit at 67.50/60 against the dollar compared with Monday's close of 67.45/55.


Read more at Reuters Africa

Husqvarna pretax tops forecasts, eyes acquisitions

(Reuters) - STOCKHOLM, July 24 - Garden and construction tools maker Husqvarna posted a bigger-than-expected 32 percent rise in second-quarter pretax earnings on Tuesday, boosted by recent acquisition Gardena.



Sweden's Husqvarna, spun out of white goods giant Electrolux last year, said pretax profit rose to 1.53 billion Swedish crowns from 1.15 billion a year earlier. Profit exceeded an average forecast of 1.40 billion seen in a Reuters poll of 10 analysts.


Read more at Reuters.com Market News

Zimbabwe c.bank delays monetary policy announcement

(Reuters) - Zimbabwe's central bank on Tuesday said it was indefinitely postponing a much awaited mid year monetary policy statement due next week to give time to analyse the implications of government price controls and an imminent supplementary budget.

Reserve Bank of Zimbabwe Governor Gideon Gono has been tasked by President Robert Mugabe's government to lead efforts to turn around an economy battered by eight years of recession.


Read more at Reuters Africa

Smith International profit rises

(Reuters) - Analysts on average had expected a profit of 76 cents a
share, according to Reuters Estimates.




Revenue in the quarter was $2.11 billion, up from $1.74
billion in the same period a year earlier.


Read more at Reuters.com Market News

Poland's Zloty Gains After Report Shows Quicker-Than-Expected Retail Sales

(Bloomberg) -- The Polish zloty rose against the
euro after a government report showed retail sales grew faster
than forecast last month, stoking speculation the central bank
will continue to raise interest rates this year.

Retail sales growth quickened to 3.1 percent from May and
16.2 percent from the same period last year, the fastest pace in
three months, the Warsaw-based central statistical office said
today. The figures exceeded the median estimate of economists
surveyed by Bloomberg News, who predicted sales would rise 1.5
percent on the month and 14.5 percent on an annual basis.


Read more at Bloomberg Currencies News

European Retail Stocks Drop; Next, Kingfisher, Sports Direct Lead Slide

(Bloomberg) -- European retail stocks fell, led by
Next Plc and Kingfisher Plc, as floods devastated parts of
central England.

Sports Direct International Plc tumbled 16 percent after the
U.K.'s biggest sporting-goods retailer said it expects the
weather to weigh on earnings. ARM Holdings Plc and Infineon
Technologies AG led chipmakers lower after Texas Instruments Inc.
of the U.S. reported a drop in profit and revenue that missed
analysts' estimates. MAN AG paced advancing shares after Merrill
Lynch & Co. recommended buying shares in the German truckmaker.


Read more at Bloomberg Stocks News

Iceland's Baugur buys 8 pct stake in Saks

(Reuters) - Saks shares closed at $21.17 a share on Monday, which would
make the stake worth about $243 million.




A report in the Financial Times on Tuesday said Baugur had
bought the shares for just under $22 each. It said the
investment was not believed to presage a full bid for Saks.


Read more at Reuters.com Mergers News

European Stocks Decline; ARM Holdings, Infineon Technologies, Telenor

(Bloomberg) -- European stocks fell, led by ARM
Holdings Plc and Infineon Technologies AG after Texas Instruments
Inc., the world's largest maker of chips that run mobile phones,
reported lower profit and revenue that missed analysts' estimates.

Europe's Dow Jones Stoxx 600 Index lost 0.1 percent to
394.42 at 8:07 a.m. in London with 15 of 18 industry groups
falling. The Stoxx 50 slid 0.2 percent, while the Euro Stoxx 50,
a measure for the euro region, decreased 0.3 percent.


Read more at Bloomberg Stocks News

UPDATE 1-GE sees 30-40 pct growth in emerging markets

(Reuters) - GE sold $30 billion in the emerging economies of China,
India, Southeast Asia, Middle East and Africa, and Latin
America last year.




"By 2010, we're estimating sales of $50 billion," said GE
International's chief executive, Ferdinando Beccalli-Falco.


Read more at Reuters.com Mergers News