Ceridian shareholder says does not support sale at "low price"

(Reuters) - Ceridian last month agreed to be bought by private equity firm Thomas H. Lee Partners and insurance company Fidelity National Financial Inc. for $5.3 billion in cash or $36 per share.







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U.S. Stock-Index Futures Fall; DuPont, Caterpillar, Chevron Shares Slide

(Bloomberg) -- U.S. stock-index futures dropped
before the release of a Federal Reserve report that may give
investors clues on the direction of interest rates.

Shares of DuPont Co., the third-largest U.S. chemical maker,
and Caterpillar Inc., the world's biggest supplier of earthmoving
equipment, slipped in Europe, pacing declines among companies
most sensitive to higher rates.


Read more at Bloomberg Stocks News

Hedge Funds Warn SEC to Watch for Manipulation of Subprime Mortgage Bonds

(Bloomberg) -- A group of hedge funds is telling
the U.S. Securities and Exchange Commission to be on the lookout
for manipulation of bonds backed by subprime mortgages.

Paulson & Co., based in New York, told the SEC that
investment banks may pay inflated prices to buy bad loans that
are collateral for bonds, said Michael Waldorf, a senior vice
president at the hedge fund. Removing delinquent loans may
prevent bonds from defaulting and triggering losses in the
banks' investments in derivatives, he said. Waldorf declined to
name the other hedge funds that also warned the SEC.


Read more at Bloomberg Bonds News

Hedge funds' hopes rise for China opening

(Reuters) - Chinese officials remain suspicious of overseas hedge funds, after witnessing the turmoil partly blamed on the likes of financier George Soros' Quantum Fund during the 1997/98 Asian financial crisis.




Unlike foreign banks, mutual funds and brokerages, hedge funds are excluded from forming fund management ventures in China, which Barclays Capital predicts will offer the highest growth potential of any asset management market in Asia over the next two years.


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Asian Aframax Oil Tanker Rates Are Steady Before Start of July Bookings

(Bloomberg) -- The cost of shipping 80,000 metric
tons of oil on Asian routes, which has risen the last two weeks,
may be little changed before hirers start making bookings for
July, shipbrokers said.

The rate of shipping crude or fuel oil on so-called Aframax
tankers to Singapore from Kuwait was unchanged at Worldscale
145.96 yesterday, according to the London-based Baltic Exchange.
The cost of shipping on the route has risen 5.2 percent in the
last two weeks.


Read more at Bloomberg Energy News

Icelandic Currency, Stocks Attract Investors (Again) a Year After Meltdown

(Bloomberg) -- Iceland's stock market and currency
are among the world's best performers this year after teetering
on the brink of collapse in 2006. The island's rebounding economy
and high interest rates will drive more gains.

``Stocks will rally another 10 to 15 percent,'' said
Gudmundur Gudmundsson, head of trading at Kaupthing Bank hf in
Reykjavik. ``The krona is still going strong and will retain its
strength in 2007'' on expectations rates will stay near records.


Read more at Bloomberg Currencies News

Vodacom says S.Africa subscribers up 20.1 pct

(Reuters) - South Africa's leading mobile phone operator Vodacom increased subscribers in its home market by 20.1 percent to 23 million, boosted by prepaid clients, the company said on Wednesday.

Vodacom, jointly owned by UK mobile phone group Vodafone and South Africa's Telkom, gave detailed annual results on Wednesday after announcing a 23 percent rise in full-year operating profit to 10.9 billion rand on May 29.


Read more at Reuters Africa