S.Africa June credit quickens to 24.92 pct yr/yr

(Reuters) - Growth in demand for credit by South Africa's private sector quickened to 24.92 percent year-on-year in June from 24.84 percent in May, central bank data showed on Tuesday.

During the same period, the broadly defined M3 measure of money supply grew by 23.35 percent, just slightly below forecasts, compared to 22.67 percent in May.


Read more at Reuters Africa

Copper Rises in Asia Trade on Mexican Labor Unrest; Zinc, Aluminum Advance

(Bloomberg) -- Copper futures in Asia rose after
workers at Southern Copper Corp., the world's fifth-largest
producer of the metal, began a strike at three of the company's
Mexican mines to demand wage increases.

Employees stopped work at Cananea, Mexico's largest copper
mine, and the Taxco and San Martin zinc mines, National Mining
and Metal Workers Union spokeswoman Carmen Romero said yesterday.


Read more at Bloomberg Commodities News

Melco PBL Completes Sale of $200 Million of Bonds Exchangeable Into Shares

(Bloomberg) -- Melco PBL Entertainment (Macau) Ltd.,
a casino venture between Lawrence Ho and Australian billionaire
James Packer, sold $200 million of bonds exchangeable into its
shares.

The Nasdaq-listed company's bonds, which will mature in 2012,
will pay interest of 2.4 percent, Packer's Publishing &
Broadcasting Ltd. said in a statement to the Australian stock
exchange today. It had proposed a coupon of 1.4 percent to 2.4
percent, according to a sale document sent to investors
yesterday.


Read more at Bloomberg Bonds News

Japan anti-monopoly watchdog probes steel firms

(Reuters) - Japanese media reports saying the FTC had launched an
investigation into possible price-fixing in these markets sent
shares of Nippon Steel down 2.9 percent to 891 yen and shares of
JFE Holdings down 2.6 percent to 8,140 yen as of 0456 GMT.




Read more at Reuters.com Government Filings News

CVC Asia Pacific agrees to buy Taiwan curtain maker

(Reuters) - The price represented a 13.6 percent premium over Monday's
closing price of T$36.35.




Shares of Nien Made, the world's top maker of blind shades,
surged by the daily 7 percent limit to T$38.85 in midday trading
on Tuesday.



Read more at Reuters.com Mergers News

JGBs sit tight on BOJ rate concerns, auction eyed

(Reuters) - Japan's jobless rate fell to a new nine-year low of 3.7
percent in June, beating economists' median forecast for 3.8
percent and suggesting that solid demand in the job market will
eventually push up prices as expected by the BOJ.




Swap contracts on the overnight call rate
showed a nearly 60 percent chance of a BOJ rate hike in
August, up from around 50 percent the previous day.


Read more at Reuters.com Bonds News

South Korean Manufacturers' Confidence Rises For First Time in Four Months

(Bloomberg) -- Confidence among South Korean
manufacturers for August increased for the first time in four
months, suggesting companies may ramp up production and spur
growth in Asia's third-largest economy.

An index of manufacturers' expectations for August rose to
89 from 86 for July, according to a poll of 2,929 companies
released by the Bank of Korea in Seoul today. The index began
in January 2003 and has always had a reading of less than 100,
indicating pessimists outnumber optimists.


Read more at Bloomberg Emerging Markets News

UPDATE 3-Hedge fund Sowood suffers 50 pct loss, to wind down

(Reuters) - BOSTON, July 30 - Hedge fund Sowood Capital told
investors on Monday that it would shut down after losing half
of its assets on soured bond market bets, becoming the
first-high profile fund forced out of business by recent market
turmoil.




The Boston-based fund, which managed money for Harvard
University and other prominent clients, saw assets dwindle to
roughly $1.5 billion from $3.0 billion in less than four weeks.


Read more at Reuters.com Mergers News

Currency Fund Returns Reach Record in June on Carry Trades, Parker FX Says

(Bloomberg) -- Cumulative returns on currency funds
rose to a record in June as managers profited from declines in
the yen and the dollar, according to Parker Global Strategies.

The yen slid against the euro and the pound last month as
investors borrowed Japan's currency at the lowest interest rate
in the industrialized world to fund purchases of higher-yielding
assets, known as carry trades, Parker Global said. The dollar
fell against major currencies in June as slowing inflation and
consumer spending prompted traders to pare bets on a U.S. rate
increase, Parker Global said.


Read more at Bloomberg Currencies News

JGBs sit tight on BOJ rate concerns, aution eyed

(Reuters) - A slide in U.S. Treasuries also discouraged investors from
picking up JGBs. On Monday, a rebound on Wall Street prompted
bond investors to sell Treasuries and take back some gains from a
bond rally last week.




"Market participants think it is getting easier for the BOJ
to hike interest rates as U.S. markets have started to
stabilise," said Tatsuo Ichikawa, chief JGB strategist at ABN
Amro.


Read more at Reuters.com Bonds News

Japan's Bonds May Fall on Speculation Investors Will Demand Riskier Assets

(Bloomberg) -- Japanese bonds may fall for a second
day as a recovery in global stock prices signaled investors are
shifting to riskier assets after last week's global rout in
corporate and emerging-market debt.

Ten-year yields may continue to climb from the lowest in
eight weeks after reports showed households increased spending
for a sixth month in June and the jobless rate fell, suggesting
Japan will extend its longest postwar expansion. The reports may
strengthen speculation that the Bank of Japan will raise
interest rates as soon as next month.


Read more at Bloomberg Bonds News

Japan July manufacturer PMI contracts, output weak

(Reuters) - The NTC Research/Nomura/JMMA Purchasing Managers Index, which
gives an early snapshot of the health of manufacturing, declined
to a seasonally adjusted 49.0 in July from 50.4 in June.




A reading above 50 suggests expansion, while a figure below
50 points to a contraction.


Read more at Reuters.com Economic News

Japan's Household Spending Rises; Unemployment Rate Drops to 3.8 Percent

(Bloomberg) -- Japan's households increased
spending for a sixth month in June and the jobless rate fell,
suggesting consumer outlays will help extend the economy's
longest postwar expansion.

Spending rose 0.1 percent from a year earlier, the
statistics bureau said today in Tokyo. The median estimate of 29
economists surveyed by Bloomberg News was for a 0.7 percent gain.
The unemployment rate dropped to 3.7 percent in June from 3.8
percent in May.


Read more at Bloomberg Bonds News

Japanese Yen, Indonesian Rupiah, Thailand's Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

UPDATE 3-Shell applies to build C$27 bln oil sands plant

(Reuters) - CALGARY, Alberta, July 30 - Royal Dutch Shell Plc
plans to build an oil sands upgrading complex at its
Edmonton, Alberta, refinery that could cost as much as C$27
billion , putting it among Canada's costliest
projects, it said on Monday.




Shell said its proposed Upgrader 2 would be built in four
100,000 barrel a day stages, processing tar-like bitumen from
its Athabasca Oil Sands Project -- which is already undergoing
a multibillion-dollar expansion -- as well as its steam-driven
oil sands projects in the same region.


Read more at Reuters.com Government Filings News

Fertilizer maker Mosaic posts quarterly profit

(Reuters) - Net income for the fiscal fourth quarter was $202.6
million, or 46 cents per share, compared with a year-ago loss
of $180.9 million, or 48 cents per share, the Plymouth,
Minnesota-based company said.




Net sales rose 27 percent to $1.68 billion.


Read more at Reuters.com Market News

Citigroup, Moody's and Wm. Wrigley Jr.: U.S. Equity Option Market Movers

(Bloomberg) -- The following is a list of companies
with unusual option trading in U.S. exchanges today. Stock
symbols are in parentheses after company names. Option trading
and stock prices are as of 4 p.m. in New York.

Each call option gives investors the right to buy 100 shares
of a company at a certain price, called the strike price, by a
given date. A put conveys the right to sell 100 shares.


Read more at Bloomberg Stocks News

Mexican stocks extend recovery, end up 2.20 percent

(Reuters) - The benchmark IPC stock index surged 665.51 points
to 30,900.68 points. The peso currency firmed just 0.09
percent to close at 10.95 to the dollar.




In debt trading, the price of the benchmark government
10-year peso bond rose 0.310 points to bid 101.71,
with a yield of 7.72 percent.


Read more at Reuters.com Bonds News

Sun Micro posts 4th-qtr profit vs. loss

(Reuters) - Earnings of 9 cents per share beat the analysts' average estimate of 5 cents per share. Net income was $329 million in the fourth quarter ended June 30, compared with a year-earlier net loss of $301 million, or 9 cents per share.




Revenue rose slightly to $3.84 billion, matching analysts' estimates, from $3.83 billion, while operating expenses fell 25 percent to $1.49 billion.


Read more at Reuters.com Business News

Oxford Industries quarterly net profit falls

(Reuters) - Consolidated net sales for the fourth quarter were $287.2
million compared with $287.6 million, a year ago.





Read more at Reuters.com Market News

Treasuries Decline Most in Two Weeks as U.S. Stocks Rebound From Last Week

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum suggested that a rally that sent yields
to the lowest since May 17 was poised to stall. U.S. government
debt last week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy.
Treasury volatility was near the highest since March 2005.


Read more at Bloomberg Bonds News

Bobcat to stay on in North Dakota-governor

(Reuters) - Earlier, the state's U.S. senators, Democrats Byron Dorgan
and Kent Conrad, said they would meet with representatives of
Doosan next week.




Dorgan said in a statement he was "concerned about the risk
of U.S. manufacturing being moved to low-wage manufacturing
facilities in Asian countries."


Read more at Reuters.com Bonds News

TREASURIES-Bonds ease as stocks climb

(Reuters) - NEW YORK, July 30 - U.S. Treasury debt prices fell
on Monday as investors took their cue from a rebounding stock
market and sold debt positions since there was no economic data
to sway trading.




Benchmark Treasury yields reached two-month lows last week
as bond prices rose on tumbling stocks and investor concerns over
reduced access to credit.


Read more at Reuters.com Bonds News

Treasuries Decline Most in Two Weeks as U.S. Stocks Rebound From Sell-Off

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum shows 10-year note yields were poised
to rise after dropping more than half a percentage point since
peaking at 5.327 percent on June 13. U.S. government debt last
week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy.


Read more at Bloomberg Bonds News

Northwest Airlines flight cancellation rate soars

(Reuters) - A Northwest spokesman said the carrier completed about 92 percent of its scheduled flights from Friday through Saturday compared with about 99 percent which is more typical for the airline.




"We expect today's operations to improve," Northwest spokesman Roman Blahoski said.


Read more at Reuters.com Bonds News

UPDATE 3-Tyson posts quarterly profit, raises outlook

(Reuters) - CHICAGO, July 30 - Tyson Foods Inc , the
world's No. 1 meat producer, reported a larger-than-expected
quarterly profit on Monday due to higher beef, chicken and pork
prices and cost-cutting efforts.




But Tyson shares posted only modest gains on Monday as some
of the improved results had been expected.


Read more at Reuters.com Market News

RLPC-UPDATE 1-Integra Telecom reduces 1st-lien loan, delays deal

(Reuters) - The first-lien loan is part of Integra Telecom's $1.25
billion acquisition financing. The company is implementing a
number of changes to the deal in order to make the overall
financing attractive to lenders.




The financing is led by Deutsche Bank, Morgan Stanley and
CIBC World Markets and backs the acquisition of Eschelon
Telecom .


Read more at Reuters.com Mergers News

UPDATE 2-Questor in talks to sell Teksid assets -source

(Reuters) - "The talks are with various parties," the source told
Reuters, while declining comment on a report in the Financial
Times saying Italian automaker Fiat SpA had made an
offer to buy the assets.




Citing people close to the talks, the newspaper said Fiat
might learn as early as Monday if its offer had been accepted.


Read more at Reuters.com Mergers News

Sugar Rises on Prospect Rally in Crude Oil Prices Boosting Ethanol Demand

(Bloomberg) -- Sugar in New York gained on
speculation rising crude oil prices will boost demand for
ethanol, diverting sugar cane away from production of the
sweetener in Brazil.

Crude oil reached an 11-month high of $77.33 a barrel in
New York today after gaining for seven straight weeks. Brazil,
the biggest producer of sugar-cane based fuel and sweetener, has
boosted ethanol production while cutting back on sugar output so
far this season.


Read more at Bloomberg Commodities News

Citadel Investment Group Takes Over Credit Holdings of Sowood Capital

(Bloomberg) -- Citadel Investment Group LLC took
over the credit holdings of Sowood Capital Management LP, the
hedge-fund firm started by former Harvard University endowment
manager Jeff Larson.

Terms of the transaction weren't disclosed in a statement
released today by Chicago-based Citadel.


Read more at Bloomberg Bonds News

Sales of Higher-Risk Mortgage Bonds Will Fall in Second Half, Lehman Says

(Bloomberg) -- Sales of new bonds backed by higher-
risk, higher-rate mortgages will slow further in the second half
of this year, according to Lehman Brothers Holdings Inc.

Issuance of bonds backed by subprime mortgages will drop 66
percent from the same period in 2006 to $75 billion, reflecting
a 57 percent drop from the first half of this year, analysts at
Lehman wrote in a report today. Alt A mortgage bond sales will
tumble 48 percent from last year's second half, the report said.


Read more at Bloomberg Bonds News

U.A.E. Shares Decline, Led by Etisalat and Dubai Islamic Bank: Gulf Stocks

(Bloomberg) -- Shares in the United Arab Emirates
dropped, paced by Emirates Telecommunications Corp., known as
Etisalat, and Dubai Islamic Bank PJSC.

The Abu Dhabi Securities Market Index fell 2.8 percent to
3430.03, the biggest one-day drop since June 7, 2006. The Dubai
Financial Market General Index slipped 0.6 percent to 4226.77,
bringing the two-day decline to 2.4 percent.


Read more at Bloomberg Stocks News

U.S. gold futures bounce early, dollar falls vs euro

(Reuters) - At 10:26 a.m. EDT , most-active gold for December delivery on the COMEX division of the New York Mercantile Exchange was up $2.40 at $674.70 an ounce, dealing in a narrow range between $671.80 and $675.20.




A precious metal dealer in New York said that bullion would look for trading cues from the currency market, as a steadily weakening dollar had sent gold to rally $40 before the tumultuous sell-off began on Thursday.


Read more at Reuters.com Hot Stocks News

Foot Locker sees quarterly loss, retains advisor

(Reuters) - The New York-based company, which could put itself up for sale according to a recent media report, is trying streamline operations and the increased markdowns were to improve its inventory position before the start of the fall season.




Apollo Management is said to be mulling an offer of $29 per share, the paper said, and Michael Ashley, the billionaire behind British retailer Sports World International, has also expressed an interest, the New York Post newspaper said.


Read more at Reuters.com Business News

US stock indexes flat, but volatility running high

(Reuters) - U.S. stocks were little changed on Monday after gyrating between negative and positive territory in the first half hour as worsening sentiment about the global credit environment countered optimism about economic growth.

Tightening lending standards threaten to slow or halt the heavy pace of corporate buy-outs that have fueled a rally in equities.


Read more at Reuters Africa

German Stocks Including Linde, Volkswagen Rise; Deutsche Bank, IKB Gain

(Bloomberg) -- German stocks including Linde AG
advanced after reporting earnings that beat analysts' estimates.
Volkswagen AG gained after analysts raised their price estimates
on the stock.

IKB Deutsche Industriebank AG led financial shares lower as
the lender, which invested in U.S. subprime mortgages, cut its
profit forecast.


Read more at Bloomberg Stocks News

Exxon Says Steps to Restart U.K.'s Fawley Refinery Under Way After Fire

(Bloomberg) -- Exxon Mobil Corp. said steps are
being taken to resume operations at its 300,000 barrel-a-day
refinery at Fawley, the U.K.'s largest, after a fire at one of
the steam units halted operations on July 25.

Plans to start up the refinery, which supplies about 14
percent of the U.K.'s refined petroleum products, ``are being
executed at this time,'' said spokeswoman Sophie Foale in a
telephone interview today. She gave no timetable for its return
to full production.


Read more at Bloomberg Energy News

UPDATE 1-IStar quarterly profit up; raises 2007 profit view

(Reuters) - The New York-based company said it now expects a full-year
profit of $2.90 to $3.10 a share, to include an expected gain
of 10 cents to 20 cents a share from its purchase of Fremont
General Corp.'s commercial real estate unit.




It previously saw 2007 earnings of $2.70 to $2.90 a share.


Read more at Reuters.com Market News

Treasury 10-Year Yields Hold Near Lowest in Two Months on Corporate Risk

(Bloomberg) -- Treasury 10-year notes held near the
lowest in more than two months as a gauge of corporate bond risk
surged.

U.S. government debt rose last week for a third straight
week on speculation rising defaults on home loans to people with
poor credit histories will hurt the U.S. economy.


Read more at Bloomberg Bonds News

UPDATE 1-CNA posts lower second-quarter earnings

(Reuters) - CNA, which is mostly owned by New York conglomerate Loews
Corp. , said net earnings were $217 million, or 80 cents
a share, down from $239 million, or 86 cents a share, in the
year-earlier quarter.




CNA said earnings from continuing operations, which
analysts use to measure performance because it excludes
investments, were $227 million or 84 cents a share, up from
$241 million or 87 cents a share a year earlier.


Read more at Reuters.com Market News

US FDA reviewer urges taking Avandia off the market

(Reuters) - Senior FDA officials say they do not know if Avandia
increases heart-attack risk and are asking the advisory panel
if the drug should come off the market or stay with stronger
warnings or limits. Panel recommendations are expected on
Monday afternoon.





Read more at Reuters.com Government Filings News

UPDATE 1-Cameco profit jumps on strong uranium prices

(Reuters) - The company earned C$205 million , or 55
Canadian cents per share, in the quarter ended June 30, up from
C$150 million, or 40 Canadian cents a share, a year earlier.




That's well above the average estimate of analysts polled
by Reuters of 42 Canadian cents a share.


Read more at Reuters.com Market News

U.S. Stock-Index Futures Rise; Shares of Archer Daniels Gain on Earnings

(Bloomberg) -- U.S. stock-index futures advanced
on speculation better-than-expected earnings will boost shares
following last week's $2.1 trillion global sell-off.

Archer Daniels Midland Co., the world's largest grain
processor, climbed after reporting profit that topped analysts'
estimates. Virgin Media Inc. gained after John Malone's Liberty
Global Inc. said it may bid for the British pay-TV company.


Read more at Bloomberg Stocks News

BP Says Forties Oil Sulfur Content Will Rise More Than Expected in August

(Bloomberg) -- BP Plc, Europe's second-largest oil
company, said it expects the sulfur content of the North Sea
Forties crude blend to rise above 1.1% in August, beyond
original expectations.

BP says the amount of sulfur in August will increase as
maintenance at some fields which feed into Forties boosts the
overall share of the sulfurous Buzzard crude in the blend,
according to the company Web site.


Read more at Bloomberg Energy News

U.S. Stock-Index Futures Rise; Shares of Archer Daniels, Alcoa Advance

(Bloomberg) -- U.S. stock-index futures advanced
after investors speculated the biggest weekly sell-off in more
than four years was excessive.

Archer Daniels Midland Co., the world's largest grain
processor, climbed after reporting earnings that topped
analysts' estimates. Alcoa Inc., the world's second-biggest
aluminum company, rose in Europe after their shares lost more
than 10 percent in the previous five days.


Read more at Bloomberg Stocks News

Russia's CTC Media Q2 earnings fall 10 pct

(Reuters) - Net profits were $30.7 million, compared to analysts' average forecast of $36.2 million and a $34.1 million result in the same period a year ago, when CTC's "Born Not Pretty" soap was pulling in viewers.



Operating revenues rose to $112.1 million at CTC, which floated on the U.S. Nasdaq exchange last year, compared to an average forecast from 5 analysts of $119.5 million and a year-ago figure of $102.8 million.


Read more at Reuters.com Market News

Los Angeles, Denver, New Jersey to Borrow for Schools, Airport, Housing

(Bloomberg) -- Los Angeles Unified School District,
Denver, New Jersey and Maryland will offer the largest of $5
billion of U.S. municipal bond issues planned for this week.

The Los Angeles school system, the second-biggest in the
nation after New York City, plans to borrow $1 billion to build
new schools and repair older ones. Denver will sell debt to
expand its airport and New Jersey will offer bonds to replenish
a trust fund for special-needs housing in two deals totaling
$860 million. Maryland will auction $375 million of debt for
schools, colleges, jails and other state building projects.


Read more at Bloomberg Bonds News

Rubber Futures Advance to Five-Week High in Tokyo as Stockpiles Decline

(Bloomberg) -- Rubber futures in Tokyo rose to the
highest in five weeks after stockpiles of the material in Tokyo
Commodity Exchange warehouses fell to the lowest since December.

Stockpiles declined to 8,238 metric tons as of July 20, down
14 percent from 9,544 tons as of July 10, and the lowest since
Dec. 10, according to the exchange. Rain has slowed output from
Thailand, the world's largest producer, which may be contributing
to the lower inventories.


Read more at Bloomberg Commodities News

Pound Rises on Speculation Floods Strengthen Case for Increase in Rates

(Bloomberg) -- The pound rose against the dollar,
snapping three days of losses, on speculation the worst floods in
60 years will cause inflation to accelerate, strengthening the
case for higher interest rates.

The Centre for Economic and Business Research yesterday said
the floods could add 0.5 percent to the inflation rate later this
year, forcing it to quicken to a decade-high, rather than decline
as forecast by the Bank of England. Policy makers will raise
borrowing costs to 6 percent by year-end after holding them at
5.75 percent at their Aug. 2 meeting, according to a Bloomberg
News survey.


Read more at Bloomberg Currencies News

S.African strike hits Nampak, petrol firms spared

(Reuters) - More than 20,000 workers have gone on strike at South African companies including Nampak , a union said on Monday, adding it had put off a strike in the petroleum sector after receiving a fresh wage offer.

The petrol companies include Sasol, the world's biggest coal-to-fuels maker and petrochemical group which supplies about 40 percent of the oil in Africa's biggest economy, and other petroleum refiners, which presented the new offer on Friday.


Read more at Reuters Africa

European Carbon Dioxide Emissions Permits Climb to Near Three-Week High

(Bloomberg) -- European Union carbon dioxide
permits rose to the highest in almost three weeks.

Permits for December 2008 gained for a fifth day, climbing
as much as 40 cents, or 2 percent, to 20.70 euros ($28.30) a
metric ton on the European Climate Exchange in Amsterdam at 9:30
a.m. local time.


Read more at Bloomberg Energy News

European Stocks Pare Earlier Gains; Suez, Vodafone Lead Decline

(Bloomberg) -- European stocks erased gains. Suez
SA, the French energy and water group, and Vodafone Group Plc,
the world's biggest mobile-phone company, paced the decline.

The Dow Jones Stoxx 600 added 0.1 percent to 372.9 at 9:57
a.m. in London after climbing as much as 0.5 percent earlier. The
Stoxx 50 and the Euro Stoxx 50, a measure for the 13 nations
sharing the euro, both declined 0.1 percent.


Read more at Bloomberg Stocks News

U.K. Natural Gas Rises on Forecast That Demand May Exceed Expected Supply

(Bloomberg) -- U.K. natural gas prices rose as
forecasts showed demand may outstrip supply.

Gas for same-day delivery increased 13 percent to 32 pence a
therm as of 9:20 a.m. local time, according to prices on
Bloomberg from the broker ICAP Plc. That's equivalent to $6.50 a
million British thermal units. A therm is 100,000 Btus. Day-ahead
gas gained 9 percent to 32.5 pence a therm.


Read more at Bloomberg Energy News

M'bishi Motors swings to first Q1 profit in 5 yrs

(Reuters) - Net loss nearly halved to 8.23 billion from 15.11 billion yen, as revenue jumped 30 percent to 630.79 billion yen, aided by a 6-yen rise in the dollar and 18-yen rise in the euro.



But the Tokyo-based automaker kept its interim and annual forecasts unchanged citing risks from rising commodity prices and other unknowns.


Read more at Reuters.com Market News

Asia shares trim falls on solid earnings

(Reuters) - Asian markets opened sharply weaker and the yen gained after the S&P 500 index suffered its worst week in nearly five years on worries that tighter credit would cause takeover activity to slow.




With earnings season in full swing, there were a raft of positive results to support the market, from firms such as Fujifilm Holdings and Fanuc Ltd. .


Read more at Reuters.com Hot Stocks News

U.S. Treasuries Decline as Rebound in Global Stocks Dims Allure of Debt

(Bloomberg) -- U.S. 10-year Treasuries fell for the
first time in a week as a rebound in global stock markets reduced
the appeal of fixed-income securities.

Treasuries declined as Asian shares rebounded from a slump
after higher profits at Japanese companies helped ease concerns a
U.S. housing slowdown would crimp the economy. U.S. notes snapped
four days of gains that had been driven by investors seeking the
relative safety of government debt as equity markets dropped.


Read more at Bloomberg Bonds News

Kookmin Bank's Second-Quarter Profit Plunges to $256 Million on Back Taxes

(Bloomberg) -- Kookmin Bank, South Korea's largest,
said second-quarter profit fell 70 percent because of back taxes
related to the 2003 takeover of its credit-card unit.

Net income fell to 236.3 billion won ($256 million) from 777
billion won a year earlier, the Seoul-based company said in
regulatory filing today. Kookmin was expected to earn 672 billion
won, according to the average of six analyst estimates
compiled by Bloomberg.


Read more at Bloomberg Emerging Markets News

ABN withdraws backing for Barclays bid, profit dips

(Reuters) - The Netherlands' biggest bank, which faces a 65.6 billion-euro offer from Barclays and a 71 billion-euro offer from the consortium of RBS, Belgium's Fortis and Spain's Santander , also reported a 7.1 percent decline in its second-quarter net profit on Monday.




ABN originally backed Barclays when announcing their merger deal in April.


Read more at Reuters.com Business News