Morocco Q1 GDP growth slows to 1.9 pct year-on-year

(Reuters) - A slump in agriculture meant Morocco's gross domestic product (GDP) growth slowed to 1.9 percent in the first quarter from 6.7 percent a year earlier, the country's High Planning Commission said on Monday.

Farm production fell by 18 percent in the first three months of 2007 compared to the same period a year earlier, the HCP said in a statement on its Web site, while non-agricultural growth was 4.7 percent.


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Ventas to record $129 mln gain in Kindred sale

(Reuters) - Nursing home and long-term hospital chain Kindred announced in April that it agreed to buy the assets, which include 21 skilled nursing facilities and one long-term acute care hospital.



) Keywords: VENTAS KINDRED/


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BofA raises earnings view for Merrill, UBS, KBW

(Reuters) - The brokerage, however, cut its estimate for Lazard's
second-quarter to 46 cents from 53 cents a share,
citing lower than expected deal closings.





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S.African biggest gold firms offer 6 pct wage hike

(Reuters) - The three biggest gold firms in South Africa, the world's biggest producer of the precious metal, offered workers a 6 percent wage hike on Monday, a union official said.

Unions declared a dispute, the first legal step towards going on strike, on June 20 after mining firms failed to present an offer on the first day of formal negotiations, but later agreed to return to talks.


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Philadelphia Hospitals Lead Week's U.S. Tax-Exempt Borrowers as Sales Slow

(Bloomberg) -- U.S. state and local governments are
set to sell $2 billion of bonds this week, led by a group of
Philadelphia hospitals, as the July 4 holiday cuts the schedule
of new tax-exempt offerings to the second-lowest of the year.

The Hospitals and Higher Education Facilities Authority of
Philadelphia is planning to sell $230 million of bonds on behalf
of Temple University's hospital system, the largest offering of
tax-exempt bonds slated for the week, according to data compiled
by Bloomberg. A $3.6 billion bond sale by Puerto Rico was pushed
back until next week.


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German Day-Ahead Power Price Climbs to Week-High on Forecast for Less Wind

(Bloomberg) -- German power prices for next-day
delivery climbed to their highest in more than a week on
expectations wind-power capacity will return to normal, reducing
supplies in Europe's biggest electricity market.

Baseload German power climbed as much as 10 euros, or 34
percent, to 39 euros ($53) a megawatt-hour, according to prices
from GFI Group Inc. on Bloomberg. The contract traded at 37.30
euros at 11 a.m. in Berlin, the highest since June 21. Baseload
refers to electricity delivered around the clock.


Read more at Bloomberg Energy News

Reddy Ice says to be acquired for $1.1 bln

(Reuters) - The transaction is expected to close in the fourth quarter of 2007.




Dallas, Texas-based Reddy Ice also cut its 2007 outlook, citing adverse weather during the second quarter in several of its major markets, including Texas and Oklahoma.


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