Cerberus may sell Imperial Hotel stake: Nikkei

(Reuters) - The news sent Imperial Hotel's shares up by their daily limit of 500 yen, or 11.4 percent, to 4,880 yen in afternoon dealings.




Based on Monday's closing price, the hotel had a market value of 145 billion yen , valuing Cerberus's stake at about 58 billion yen.


Read more at Reuters.com Business News

UPDATE 1-Cerberus may sell Imperial Hotel stake--Nikkei

(Reuters) - The investment firm has narrowed its list of bidders to
property firms Mitsubishi Estate Co. Ltd. and Mitsui
Fudosan Co. Ltd., and it hopes to select a buyer by the
end of the year, the report said, citing people familiar with the
matter.




The news sent Imperial Hotel's shares up by their daily limit
of 500 yen, or 11.4 percent, to 4,880 yen in afternoon dealings.


Read more at Reuters.com Mergers News

Pakistani Textile Maker Azgard Nine's Bonds Rated B+ By Standard & Poor's

(Bloomberg) -- Azgard Nine Ltd., a Pakistani textile
maker, was rated B+ by Standard & Poor's Ratings Services for its
planned bond sale.

S&P assigned a B+ corporate credit rating to Azgard
Nine with a ``stable'' outlook, a statement from the ratings
company said.


Read more at Bloomberg Bonds News

Japan's Commodity Exchange Trading Volumes Decline 25 Percent Last Month

(Bloomberg) -- Japan's commodity exchanges
trading volumes fell 25 percent in June from a year ago,
the Japan Federation of Commodity Exchanges Inc. said.

Futures and options trading volume on the four bourses
totaled 6.53 million contracts for the month, down from
8.71 million contracts, the Tokyo-based federation said in
data released on its Web site June 29.


Read more at Bloomberg Commodities News

Cioffi's Hero-to-Villain Hedge Funds Masked Peril of CDOs for Bear Stearns

(Bloomberg) -- The two hedge funds that Ralph Cioffi
managed were so hot that some investors had to call a friend at
his firm, Bear Stearns Cos., to get his attention. Cioffi's
employer and associates, dazzled by 40 consecutive months
without a loss for one of the funds, invested at least $35
million of their own money with him.

Cioffi was so successful that colleagues insisted that his
eight-figure compensation placed him among the highest-paid
employees in 2006. Bear Stearns officials and Cioffi declined to
comment.


Read more at Bloomberg Bonds News

Greene King, Cybit, Alphameric, Waterford: U.K., Irish Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in U.K. and Irish markets today. Stock symbols are in parentheses
and prices are from the market close yesterday.

The benchmark FTSE 100 Index fell 17.30, or 0.3 percent, to
close at 6590.60 in London as 27 stocks rose, 74 fell and two
were unchanged. The FTSE All-Share Index declined 7.37, or 0.2
percent, to 3396.77.


Read more at Bloomberg Stocks News

JGB futures eke out gains on 10-yr auction optimism

(Reuters) - Gains were tempered, however, as expectations for a Bank of
Japan rate rise to 0.75 percent from 0.5 percent as early as
August remain firmly entrenched in the market, analysts said.
JGBs drew some strength from gains in Treasuries on Monday
and extended their gains after the Finance Ministry said it was
offering 10-year bonds with a coupon of 1.9 percent, up from 1.8
percent at the previous 10-year offer.




It was the first time the coupon for a 10-year JGB was set at
1.9 percent since an auction last August.


Read more at Reuters.com Bonds News