Copper Futures Gain for 4th Straight Session as Strikes Threaten Supplies

(Bloomberg) -- Copper futures rose for the fourth
straight session in New York as miners threatened strikes in
major producers including Chile, the world's biggest source of
the metal.

Contract workers at Codelco, the world's biggest copper
producer, plan to walk off the job on June 20 and employees at
the company's largest division may set up blockades to pressure
management to boost bonuses. Copper rose to a record in May 2006,
partly because labor unrest disrupted supplies.


Read more at Bloomberg Commodities News

Precision Castparts acquires Caledonian Alloys Group

(Reuters) - The acquisition, which is expected to be completed in the
second quarter of fiscal 2008, will immediately add to
earnings, the company said in a statement.





Read more at Reuters.com Mergers News

UPDATE1-China Medical Q4 net income rises, gives fiscal '07 view

(Reuters) - Shares of the company rose almost 9 percent to $29.65 in
early electronic trade on Monday.




The Chinese medical device company expects fiscal 2007
revenue to rise 51.7 percent to 59.1 percent.


Read more at Reuters.com Market News

South African Rand Gains Against Dollar as Investors Seek Higher Yields

(Bloomberg) -- The South African rand rose for a
fourth day, touching a two-week high, as investors returned to
the so-called carry trade in search of higher yields.

The rand was the second best-performing major currency
versus the dollar today as traders took advantage of the
relatively high interest rates in Africa's biggest economy.
Investors bought the country's assets, funding their purchases by
borrowing in the low interest rate Japanese yen and Swiss franc,
both of which fell to record lows against the euro today.


Read more at Bloomberg Currencies News

European Yields Hold Near Six-Year High on Policy Maker's Hawkish Remarks

(Bloomberg) -- European two-year note yields held
near the highest in more than six years as European Central Bank
official Jose Manuel Gonzalez-Paramo said monetary policy was
still accommodative, indicating interest rates in the region have
further to rise.

The drop in benchmark debt also sent 10-year bund yields to
near their strongest since August 2002 as traders add to bets the
ECB will lift borrowing costs twice more this year. Germany's
Bundesbank said in a report today first-quarter growth in
Europe's largest economy was ``remarkable.''


Read more at Bloomberg Bonds News

IBM sees software acquisitions key to profit rise

(Reuters) - International Business Machines Corp. is banking on software, which accounts for 20 percent of revenue but generates 40 percent of pretax earnings, to lift overall profitability of a company that spans computer hardware, services and software.




Gross profit margins at the company's software unit, led by Steve Mills, are typically the highest of IBM's four main businesses and stood at 83.6 percent in the first quarter. The hardware unit's profit margin, by comparison, was 34.8 percent, and global technology services came in at 29.2 percent.


Read more at Reuters.com Business News

U.K. FTSE 100 Stocks Including Vodafone Drop; ICI, Prudential Shares Rise

(Bloomberg) -- U.K. stocks including Vodafone Group
Plc, the world's largest mobile-phone company, fell.

Imperial Chemicals Industries Plc paced advancing shares.
The U.K. maker of Dulux and Glidden paints rejected a 7.2
billion-pound ($14.2 billion) bid from Akzo Nobel NV of the
Netherlands as too low. Shares of Prudential Plc also gained.


Read more at Bloomberg Stocks News