Standard Bank buys control of Kenya's CFC Bank

(Reuters) - The Kenyan unit of South Africa's Standard Bank plans to acquire a 60 percent stake in Kenya's CFC Bank, subject to regulatory approval, the two banks said on Monday.

The CFC Bank group, with assets of 40.4 billion shillings at the end of 2006, would be renamed CFC Stanbic Holdings.


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UPDATE 1-Silver State sees share offering at $22-$24/shr

(Reuters) - In an amended filing with the U.S Securities and Exchange
Commission, the bank holding company said Sandler O'Neill &
Partners L.P. and Howe Barnes Hoefer & Arnett Inc. were
underwriting the offering.




The underwriters may buy up to 480,000 additional shares to
cover any over-allotments.


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Investor morale eases in June on rising energy costs-UBS

(Reuters) - The Personal Dimension of the Index, which measures
optimism about investors' own personal investment portfolios,
decreased 8 points in June to 67 from 75 in May, UBS said.




"As the summer driving season gets started, investors are
clearly noticing the impact of higher gas prices on their
bottom line, which in turn affects sentiment about their
investments," Maury Harris, chief U.S. economist at UBS
Investment Bank, said in a statement.


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Dow Average Futures Advance as Bond Yields, Oil Drop; GM, Blackstone Gain

(Bloomberg) -- Dow Jones Industrial Average futures
rose after bond yields fell and oil prices dropped.

General Motors Corp. climbed after Goldman, Sachs & Co.
advised clients to buy shares of the biggest U.S. automaker
because the United Auto Workers union may offer larger-than-
expected concessions. Blackstone Group LP, the private-equity
firm valued at $38 billion after its initial public offering June
22, also gained.


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S.Africa maize stocks jump on harvest deliveries

(Reuters) - South African maize prices slid on Monday, pressured by losses in Chicago, while data showed that maize stocks jumped as farmers delivered from the harvest.

The stocks surged to 3.501 million tonnes at the end of May from a revised 2.07 million the previous month, the South African Grain Information Service (SAGIS) said in its monthly bulletin.


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No job cuts seen in Intel-STMicro memory venture

(Reuters) - TEL AVIV, June 25 - The newly appointed head of Intel Corp. and STMicroelectronics' flash memory joint venture said on Monday no layoffs were anticipated after the companies' activities are combined.



Intel and Franco-Italian STMicro said last month they would hive off their flash memory units and put them together with the backing of private equity firm Francisco Partners.


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CORRECTED - CORRECTED-Compton to acquire Stylus Energy for C$19 mln

(Reuters) - The deal, which includes the assumption of about C$12
million of net debt, represents a 20 percent premium to the
most recent closing price of the common shares of Stylus, the
companies said in a joint statement.





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