Dollar hovers near highs after jobs data

(Reuters) - These reports offset a tepid U.S. core inflation number for April.




"Dollar buying is likely to continue, supported by economic data released on Friday although some of it was not necessarily dollar-supportive," said a trader at a Japanese trust bank.


Read more at Reuters.com Hot Stocks News

UBS Hedge Fund Loss Ensnares Wuffli With Mess Reprising Long-Term Capital

(Bloomberg) -- UBS AG Chief Executive Officer Peter
Wuffli spared no expense when he agreed two years ago to let
John Costas, the top-ranking American at Switzerland's largest
bank, start an internal hedge fund.

Wuffli gave Costas $3.5 billion, 80 top traders and 40
support staff for the Dillon Read Capital Management LLC
venture. Costas hired another 130 people and leased space in
London, Singapore, Tokyo, Connecticut and Manhattan, where his
corner office on the 22nd floor has a view of St. Patrick's
Cathedral. By the time he was done, Dillon Read's 250 employees
received bonuses averaging $1 million a year, or almost three
times the comparable payout at Goldman Sachs Group Inc.


Read more at Bloomberg Exclusive News

Japan's Government Bonds May Drop After U.S. Labor Report Shows Growth

(Bloomberg) -- Japanese bonds may fall, extending a
two-week decline, on speculation the U.S. economy will rebound
after a government report showed hiring accelerated more than
economists estimated.

Debt in Japan may follow a slump in U.S. Treasuries that
pushed 10-year yields to the highest level in more than nine
months on June 1. Signs of a recovery in Japan's biggest export
market may deter investors from buying bonds before Japan's 10-
year bond auction tomorrow.


Read more at Bloomberg Bonds News

Philippine Inflation Probably Accelerated on Higher Prices for Oil, Food

(Bloomberg) -- Philippine inflation probably
accelerated in May as the price of oil approached a six-month
high and dry weather curbed food production.

Consumer prices rose 2.5 percent from a year earlier,
according to the median estimate of nine economists surveyed by
Bloomberg News. Inflation was 2.3 percent in April, close to the
seven-year low it reached a month earlier. The National
Statistics Office will release the monthly report tomorrow.


Read more at Bloomberg Bonds News

Wall St bullish on media company Belo - Barron's

(Reuters) - It said Wall Street was bullish for Belo, a Texas-based
media company that owns 19 TV stations and four newspapers,
including the Dallas Morning News.




Last week, Citigroup Global Markets analyst Eileen Furukawa
raised her investment rating for Belo from "hold" to "buy" and
boosted her share price target from $19 to $25, the Barron's
report said. Belo stock closed on Friday at $22.22.


Read more at Reuters.com Mergers News

Unions seek gains with airlines healthier

(Reuters) - But labor experts question whether pilots, mechanics, bag
handlers and flight attendants will be able to take back a
measurable percentage of restructuring givebacks, even if
profits improve from a modest 2006.




The performance outlook for airlines this year has been
dimmed by softer demand, stubbornly high fuel costs, diminished
pricing power and expectations of intensifying competition.


Read more at Reuters.com Business News

Egypt Fertiliser to borrow $1.25 bln for new owners

(Reuters) - Egyptian Fertilisers Co. will borrow $1.25 billion to help its new owners, including Abraaj Capital of the United Arab Emirates, finance their $1.41 billion acquisition, Abraaj said on Sunday.

The company will sell five-year Islamic bonds to raise $400 million and borrow another $850 million from banks, Tom Speechley, executive director of Abraaj Capital, told reporters.


Read more at Reuters Africa