Platinum Futures in Tokyo Little Changed Near Record High on Wage Talks

(Bloomberg) -- Platinum futures in Tokyo were little
changed after South Africa's National Union of Mineworkers said
Anglo Platinum Ltd. will probably improve its pay offer.

Anglo, the world's biggest producer of the metal, and the
union have been in wage talks since May, raising concern a strike
may cut supply or a pay increase would push up mining costs. The
company will revise its offer to increase pay by as much as 10
percent on July 26, NUM negotiator Oupa Komane said on July 20.


Read more at Bloomberg Commodities News

Japan's Nikkei 225 Average, Topix Falls; Exporters Drop on U.S. Earnings

(Bloomberg) -- Japanese shares dropped, paced by
companies that rely on the U.S. market, after Caterpillar Inc.
said its profit dropped on lower North American sales. Exporters
such as Honda Motor Co. and Komatsu Ltd. declined.

Investors also refrained from betting heavily on stocks
before the upper house election, which will be held on July 29.
The Nikkei newspaper reported yesterday Japan's ruling coalition
may lose its majority in the election, citing its own poll.


Read more at Bloomberg Stocks News

JGB futures hit six-week high tracking Treasuries

(Reuters) - September 10-year futures rose as much as 0.29 point to
132.37 , the highest since early June.




Traders said expectations remained for the Bank of Japan to
raise interest rates to a 12-year high of 0.75 percent from the
current 0.5 percent as early as next month, limiting gains in
JGBs.


Read more at Reuters.com Bonds News

Carbon offset market needs code - UK report

(Reuters) - Voluntary offsetting is distinct from buying carbon offsets
under mandatory schemes, such as the Kyoto Protocol, and
involves individuals and companies paying companies to cut
emissions on their behalf.




"Without transparency consumers will have little confidence
in purchasing or otherwise dealing in offsets, confidence that
the market needs in order to grow," the report by the House of
Commons Environment Audit Committee said.


Read more at Reuters.com Government Filings News

People's United poised to rise - Barron's

(Reuters) - "Management has underpromised on likely cost saving, and
such stoic reserve improves the odds that future surprises will
be happy ones," the newspaper said.




Read more at Reuters.com Market News

U.S. activist fund builds stake in UBS: paper

(Reuters) - Speculation of a possible break-up at UBS has escalated in recent months following a proposed three-way carve-up of ABN AMRO by a group led by Royal Bank of Scotland .




The Sunday Times report said Chicago-based Harris Associates had built a stake representing about 1 percent of UBS over the past three months.


Read more at Reuters.com Mergers News

OPEC research head: fair oil price $60-$65 - report

(Reuters) - A fair price for both oil producers and consumers for a barrel of oil would be around $60 to $65 a barrel, a Kuwaiti state oil newsletter quoted the head of OPEC's research division as saying.

"A price of $60 to $65 is appropriate for consumers and producers, because it boosts means of investment in the oil industry in light of growing demand for oil in the coming years," state firm Kuwait Petroleum Corporation's (KOC) monthly newsletter quoted Hasan Qabazard as saying.


Read more at Reuters Africa