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

US STOCKS-Indexes extend gains on earnings optimism

(Reuters) - NEW YORK, July 16 - U.S. stocks rose on Monday,
with the Dow flirting with 14,000, on optimism about earnings
of major industrial companies and speculation that Verizon
Communications could be a takeover target.




Shares of Verizon were the biggest percentage gainer on the
Dow after a Financial Times blog said Vodafone Group
was considering a $160 billion takeover bid for the U.S.
wireless operator. Vodafone denied the report, but Verizon
shares rose 2.6 percent to $42.84.


Read more at Reuters.com Bonds News

U.S. Stock-Index Futures Are Little Changed; Apple Shares Climb in Europe

(Bloomberg) -- U.S. stock-index futures were little
changed before the Federal Reserve announces its interest-rate
decision and comments on the economic and inflation outlook.

Apple Inc. shares gained in Europe after the Financial Times
reported Motorola Inc., the world's second-biggest mobile-phone
maker, is worried about the iPhone. Monsanto Co., the world's
biggest seed producer, rose before reporting earnings. Bed Bath &
Beyond Inc., the largest U.S. home-furnishings retailer, fell
after saying profit may decline.


Read more at Bloomberg Stocks News

UPDATE 1-Pearson says may sell French paper les Echos

(Reuters) - They were protesting over the potential sale of the French
business newspaper to Bernard Arnault, head of luxury group LVMH
and owner of rival La Tribune.




Pearson , which also owns the Financial Times and
the Penguin publishing house, said it was considering selling
the paper but would not confirm it was in exclusive talks with
Arnault.


Read more at Reuters.com Mergers News

UPDATE 4-GE/Pearson consider Dow Jones bid, outcome unclear

(Reuters) - One possibility being considered could see the controlling
Bancrofts keep an interest in Dow Jones, which owns the Wall
Street Journal, that source said. That confirmed earlier
reports by the Financial Times and the Wall Street Journal.




General Electric owns the CNBC business television channel,
and faces competition from News Corp., which is
launching a business news channel of its own. Pearson owns the
pink-paged business paper the Financial Times and competes with
the Wall Street Journal.


Read more at Reuters.com Bonds News

Euro Trades Near Record High Against Yen on Outlook for ECB Rate Increases

(Bloomberg) -- The euro traded near a record high
against the yen on speculation the European Central Bank will
raise interest rates this year to stem inflation.

The 13-nation currency rose from a seven-week low against
the dollar yesterday after Financial Times Deutschland said the
ECB will lift forecasts for inflation and economic growth. The
ECB will lift its benchmark rate tomorrow to 4 percent from 3.75
percent, according to all 52 economists surveyed by Bloomberg
News.


Read more at Bloomberg Currencies News

Ford eyes sale of Volvo cars, BMW interested: paper

(Reuters) - The Financial Times also reported last Friday BMW was in informal talks to buy Volvo.




"We cannot comment on speculation, this is a question for our owner," said a spokeswoman for Volvo cars.


Read more at Reuters.com Business News