Barloworld sells US truck, vacuum technology units

(Reuters) - South African industrial conglomerate Barloworld has sold its U.S. freightliner truck centre to a consortium at a premium to its net asset value and has sold its vacuum technology business, it said on Monday.

Barloworld did not give financial details of either deal and said the two disposals were in line with its strategy of selling non-core assets and focusing on distribution.


Read more at Reuters Africa

US STOCKS-Futures up in jittery market, eyes on Fed

(Reuters) - NEW YORK, Aug 6 - U.S. stock futures edged higher
on Monday as fallout from the housing slump fanned speculation
the Federal Reserve may adopt a policy statement that reassures
investors worried about the economy's health.




In a positive note for the battered financial services
sector, UBS raised its rating on shares of brokerage Merrill
Lynch to a "buy" from "neutral," according to
theflyonthewall.com. Merrill shares rose 2.1 percent to $71.51
before the bell.


Read more at Reuters.com Bonds News

Nordic Shares Slide, Paced by Statoil, Norsk Hydro, Nordea Bank, Boliden

(Bloomberg) -- Nordic stocks fell for a second day,
led by Statoil ASA and Norsk Hydro ASA, Norway's largest oil
producers, as crude oil prices declined. DNO ASA, the Norwegian
oil explorer, slid the most in a week.

Nordea Bank AB sank to a five-month low after Goldman, Sachs
& Co. recommended selling shares in the region's largest lender
on concern earnings growth will slow.


Read more at Bloomberg Stocks News

Israeli Bonds Rise as Yields Near 10-Month High Lure Buyers, Stocks Gain

(Bloomberg) -- Israel's benchmark Shahar bonds rose
as the stock market rallied and yields near their highest in 10
months attracted buyers.

Investors returned to the Shahar after concern that U.S.
subprime losses are spreading to the wider economy yesterday
pushed 10-year yields up 14 basis points, their biggest advance
in five days. Israel's main stock index snapped three days of
losses and the spread between the Shahar and the equivalent
Treasury narrowed, after doubling in the past two weeks.


Read more at Bloomberg Bonds News

Dollar slides broadly as credit mkt jitters weigh

(Reuters) - The dollar index fell below the psychologically key 80.0 level, while the euro rose to within sight of its record high above $1.3850 struck two weeks ago.




The deepening malaise in global credit markets sent U.S. stocks tumbling on Friday, a move encouraged by a weaker-than-expected U.S. July employment report.


Read more at Reuters.com Hot Stocks News

Russia's Putin Favors Ruble Traders to Slow Inflation (Update1)

(Bloomberg) -- Russian President Vladimir Putin's plan
to keep inflation from accelerating depends on favoring foreign-
exchange traders over the country's oil and gas companies.

Putin will probably allow the central bank to double the
ruble's pace of appreciation this year because he has few options
outside the foreign exchange market to rein in consumer prices,
according to strategists at Bank of America Corp. and UBS AG.
Russia's 8.5 percent inflation rate is three times faster than
any other Group of Eight country.


Read more at Bloomberg Currencies News

European Gasoil, Jet Fuel Decline as Oil Refineries Raise Fuel Production

(Bloomberg) -- European gasoil for immediate
delivery fell as additional crude output by OPEC and greater
production from refineries in Europe and the U.S. boosted
supplies. Diesel and jet fuel also declined.

Exxon Mobil Corp.'s Fawley refinery on the south coast of
England completed its startup on Aug. 3 after a fire halted
production in July. Crude-oil production in July by members of
the Organization of Petroleum Exporting Countries rose 445,000
barrels a day, according to a Bloomberg News survey.


Read more at Bloomberg Energy News

Orbotech posts quarterly net loss as sales fall

(Reuters) - Orbotech was expected to earn 18 cents a share, according
to Reuters Estimates.




Revenue fell to $88.6 million from $104.9 million.


Read more at Reuters.com Market News

Sappi says Q3 earnings per share 23 U.S. cents

(Reuters) - JOHANNESBURG, Aug 6 - The world's top maker of fine paper, Sappi Ltd , on Monday said its third quarter earnings per share was 23 U.S. cents compared to a loss in the same period a year ago.



Sappi said group sales for the quarter increased by 7 percent to $1.3 billion, with operating profit at $87 million compared to a loss of $34 million a year ago.


Read more at Reuters.com Market News

FACTBOX: Expected timetable in battle for ABN AMRO

(Reuters) - Britain's Barclays on Monday launched a rival offer for ABN. Its mostly share offer is currently worth about 64 billion euros.




Here is an expected timetable of events, based on information from the companies:


Read more at Reuters.com Mergers News

Germany's DAX Index Falls, Paced by Deutshe Bank, DaimlerChrysler Shares

(Bloomberg) -- German stocks dropped for a second
day, led by Deutsche Bank AG after Merrill Lynch & Co. cut its
price estimate on shares of the country's biggest bank.

Allianz SE and Hypo Real Estate Holding AG paced losses by
financial shares. DaimlerChrysler AG, the world's fifth-largest
carmaker, also declined.


Read more at Bloomberg Stocks News

French Stocks Decline; Axa and Credit Agricole Retreat as Natixis Jumps

(Bloomberg) -- French stocks declined for a
third day in four. Financial companies including Axa SA and
Credit Agricole SA led the retreat.

The benchmark CAC 40 Index dropped 49.23, or 0.9
percent, to 5548.66 as of 10:05 a.m. in Paris, leaving the
measure little changed so far this year. The SBF 120 Index
fell 0.8 percent to 4051.79.


Read more at Bloomberg Stocks News

European shares fall amid credit market worries

(Reuters) - European shares fell in early trade on Monday, taking their cue from Friday's decline on Wall Street triggered by investment bank Bear Stearns saying credit markets were in their worst shape in two decades.

"We are seeing a flight to safe havens, to very short and very liquid assets, mainly cash," said Heinz-Gerd Sonnenschein, equity strategist at Postbank in Germany.


Read more at Reuters Africa

Australia, New Zealand Dollars Decline as Carry Trades Cut on Stock Slide

(Bloomberg) -- The Australian and New Zealand
dollars fell a second day against the yen as global stocks slid
on concern U.S. mortgage losses will worsen, deterring investors
from buying higher-yielding assets funded by loans in Japan.

New Zealand's dollar has weakened 7.5 percent versus the
yen in the past month, the most among the 16 most-active
currencies, and Australia's retreated 5 percent, as traders
pared positions in so-called carry trades. Asian shares declined
today after The Standard & Poor's 500 Index fell the most in
five months in New York on Aug. 3.


Read more at Bloomberg Currencies News

Dry-Bulk Shipping Rates May Extend Gains Until 2009, Credit Suisse Says

(Bloomberg) -- Freight rates to transport coal, iron
ore and other dry goods in bulk may extend gains for at least
another two years, boosted by global demand and port congestion,
Credit Suisse said in a report.

``We think this upcycle will run harder and longer than
previous ones, helped by strong demand and supply constraints at
the shipyards, until 2009,'' Credit Suisse said in an Aug. 3
report. ``At the earliest, oversupply could happen in the second
half of 2009.''


Read more at Bloomberg Energy News

Newmont sees gold price approaching $750/ounce

(Reuters) - Newmont Mining said on Monday that strong demand from the jewelry sector was set to push gold prices up to around US$750 an ounce in the northern autumn.

"There is very strong demand right now so we are setting ourselves up for an attack on the US$750 per ounce level in early fall this year," said Newmont vice chairman Pierre Lassonde on the sidelines of the annual Diggers and Dealers conference.


Read more at Reuters Africa

Wal-Mart, India Bharti to hold news conference

(Reuters) - NDTV Profit television said Bharti Enterprises chief Sunil
Mittal said 8 joint stores had been finalised, with the first
store formats to be cash-and-carry.




Earlier this year, Bharti and Wal-Mart agreed to form a
joint venture for cash-and-carry stores and back-end operations
in India.


Read more at Reuters.com Mergers News

Buyout `Freeze' Shuts Wall Street Pipeline; $1.3 Billion of Fees Dries Up

(Bloomberg) -- While investment bankers feasted on an
unprecedented $8.4 billion of fees for arranging leveraged
buyouts in the first half, the rest of the year may prove to be a
famine.

``It's impossible to conclude that it's not going to be a
tougher time for Wall Street,'' said Steven Rattner, co-founder
of New York-based buyout firm Quadrangle Group and former vice
chairman of Lazard Freres & Co. ``There's going to be an impact
on revenues and profits.''


Read more at Bloomberg Bonds News

ICICI Hires 10 Arrangers for Yen Loan in Biggest Borrowing by Indian Bank

(Bloomberg) -- ICICI Bank Ltd. hired Goldman Sachs
Group Inc. and Calyon among 10 firms to arrange the biggest
borrowing by an Indian bank.

ICICI, India's largest lender to consumers, is seeking a
yen-denominated loan equivalent to $1.5 billion, said Calyon, the
investment-banking unit of Credit Agricole SA, in an e-mailed
statement today. HSBC Holdings Plc and Natexis Banques Populaires
are also among the arrangers that will invite other banks to join
the financing, according to the statement.


Read more at Bloomberg Bonds News

Fortis, Impreglio, Munich Re, SES Global, Thomson: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 fell 1.3 percent to 372.03. The Dow
Jones Stoxx 50 Index fell 1.4 percent to 3718.31. The Euro Stoxx
50 Index, a benchmark for the 13 nations using the euro, declined
1.4 percent to 4229.19.


Read more at Bloomberg Stocks News

Saudi Aramco Releases Crude Oil Prices for Asia for Export in September

(Bloomberg) -- Saudi Aramco, the world's
largest oil company, released the prices for its crude oil
for export to Asia in September, said Asian refinery
officials who received a notice from the company.

The following table gives the differentials in
relation to benchmark prices, the month-on-month change and
the degrees of gravity as defined by the American Petroleum
Institute.


Read more at Bloomberg Energy News

Bear Stearns president resigns

(Reuters) - Bear Stearns said that, effective immediately, Alan Schwartz has been named the company's sole president.




Spector's departure follows Bear Stearns' assertion on Friday that it is weathering the worst storm in financial markets in more than 20 years after a major rating company warned mortgage credit problems could hurt the investment bank's profits.


Read more at Reuters.com Business News

JGBs surge on Treasuries, futures hit 10-week high

(Reuters) - "JGBs are at the mercy of external factors," said Tetsuya
Miura, bond strategist at Shinko Securities.




The benchmark 10-year yield dropped 5 basis
points to 1.730 percent, hitting its lowest level since late May,
as a 1.5 percent tumble in the Nikkei stocks average also
helped to push JGBs higher.


Read more at Reuters.com Bonds News

Japan's Government Bonds Advance on Speculation Investors Will Shun Risk

(Bloomberg) -- Japan's 10-year bond gained, pushing
yields to the lowest in more than two months, on speculation
increasing risk aversion spurred demand for government debt.

Corporate bond risk rose in Japan, approaching the highest
in more than three years. The nation's five-year notes completed
on Aug. 3 their longest series of weekly advances since May 2005
as losses linked to U.S. subprime mortgages caused assets such
as emerging-market bonds and stocks to extend declines.


Read more at Bloomberg Bonds News

Taiwan's Consumer Prices Probably Increased for a Second Month on Energy

(Bloomberg) -- Taiwan's inflation probably rose for
a second month in July, stoking expectations that consumer
prices will jump in the second half of this year and add
pressure for interest-rate rises.

Prices climbed 0.3 percent from a year earlier, after
rising 0.1 percent in June, according to the median estimate of
15 economists in a Bloomberg News survey. The statistics bureau
will release the report at 4 p.m. today in Taipei.


Read more at Bloomberg Bonds News

Banks, BHP, Lipa, Oxiana, Woodside Petroleum: Australian Stock Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed on Aug. 3. Prices are from the
Aug. 3 close unless otherwise stated. Stock symbols are in
parentheses after the company names.

The S&P/ASX 200 Index futures contract due in September fell
2.1 percent to 5,853 at 6.59 a.m. in Sydney. The Bank of
New York Australia ADR Index lost 3.5 percent in New York.


Read more at Bloomberg Stocks News

Bear Stearns co-president Spector resigns - WSJ

(Reuters) - Citing a person familiar with the matter, the Journal said
directors agreed that Alan D. Schwartz will for now be sole
president of Bear.




The article also said that Samuel Molinaro, the firm's
longtime chief financial officer, will assume the role of chief
operating officer and that Jeffrey Mayer, co-head of fixed
income, will take Spector's seat on the executive committee.


Read more at Reuters.com Bonds News

CORRECTED: Qatar bank's $6.1 billion Ahli United bid stalls

(Reuters) - DUBAI - International Bank of Qatar said on
Sunday talks to buy a stake in Bahrain's Ahli United Bank
had stalled, spelling a possible end to what
would be the biggest cross border takeover of a Gulf Arab firm.




International Bank, an affiliate of National Bank of Kuwait
, said shareholders were insisting that a third party
and not the Qatari firm have access to the books of Bahrain's
biggest lender, and that due diligence be limited to one month
rather than three.


Read more at Reuters.com Business News

IKB owner plays down talk of higher subprime losses

(Reuters) - "Talk of bigger numbers is complete speculation," said a
spokesman for the bank, which owns 38 percent of IKB.




IKB, which lends to small- and mid-sized firms, has become
Europe's highest-profile casualty so far of the crisis in U.S.
subprime mortgage market.


Read more at Reuters.com Government Filings News

Exxon, Chevron, Conoco may bid in India auction: paper

(Reuters) - Sibal told Reuters on Friday that the auction, earlier scheduled for August, has been deferred to November due to a shortage of rigs and a dispute over gas pricing.




He said the blocks would be awarded by June 2008.


Read more at Reuters.com Business News

UPDATE 1-Court will wait to rule on CBOT exercise rights

(Reuters) - The Delaware Chancery Court also denied CME Group Inc.'s
request for a temporary restraining order it sought to
prevent the Chicago Board Options Exchange, or CBOE, from
implementing its "rule interpretation" on the status of Chicago
Board of Trade members, CME and the CBOE said.




CME Group Inc., the world's largest futures exchange, was
created with the merger of CBOT Holdings Inc. and Chicago
Mercantile Exchange Holdings Inc. in July. The CBOE is the
largest U.S. options market.


Read more at Reuters.com Mergers News

Bear Stearns preparing to oust president-WSJ

(Reuters) - Bear Stearns' board is due to meet on Monday to consider
the departure of Spector, who heads up its stock and bond
trading operations, the paper said, citing a person familiar
with the situation.




Spector, 49, had widely been seen as a candidate to become
the firm's next chief executive, the Journal said.


Read more at Reuters.com Bonds News

South African Rand Logs Weekly Gain Against Dollar as Carry Trade Resumes

(Bloomberg) -- South Africa's rand logged a weekly
gain against the dollar as global stocks rebounded, prompting
investors to resume buying emerging-market assets.

The rand also advanced as the cost of owning European
corporate bonds fell for the first week in seven. The South
African currency pared its weekly gain after Standard & Poor's
Corp. yesterday cut the credit outlook on Bear Stearns Cos.


Read more at Bloomberg Emerging Markets News

Foot and mouth disease found in cattle on UK farm

(Reuters) - Foot and mouth disease has been confirmed in cattle on a farm in southern England, the British government said on Friday.

The agriculture department, Defra, said in a statement that movements of pigs and ruminant animals such as cows and sheep had been banned nationwide and a 10-km (six-mile) surveillance zone had been placed around the premises, a farm near Guildford in Surrey, close to London.


Read more at Reuters Africa

UPDATE 1-At American Home, it's one last day at the office

(Reuters) - MELVILLE, New York, Aug 3 - In some respects it
was a normal summer Friday in this Long Island hamlet roughly
50 miles east of Wall Street. The weather was hot, a bit
steamy. The weekend approached, and employees of American Home
Mortgage Investment Corp. awaited their paychecks.




What was different was that the checks would be their
last.


Read more at Reuters.com Bonds News

Alaska sets session to revisit disputed oil tax

(Reuters) - The Petroleum Profits Tax, enacted last year at the urging
of former Gov. Frank Murkowski, has proved less lucrative for
the state than advertised and has been clouded by revelations
about political corruption, Palin said at a Juneau news
conference.




"It's critical that state government restore public trust
in our oil and gas value system as soon as possible," Palin
said.


Read more at Reuters.com Bonds News

Abengoa gets loans for 2 U.S. ethanol plants

(Reuters) - Abengoa operates four plants in the Midwest with a combined
capacity of approximately 198 million gallons per year. The
senior secured financing will support the construction of two
additional ethanol plants, each with a capacity of 88 million
gpy. The plants will be built in Colwich, Kansas, next to an
existing plant, and in West Franklin, Indiana.




Abengoa did not immediately return phone calls.


Read more at Reuters.com Bonds News

UPDATE 1-FED FOCUS-October FOMC eyed for first rate cut

(Reuters) - CHICAGO, Aug 3 - A string of weak data and signs
of financial market stress have analysts guessing the U.S.
Federal Reserve will cut interest rates in October as price
pressures ease and economic growth slows.




Following a report on Friday that showed U.S. non-farm
payrolls expanded by a slim 92,000 workers last month, the
implied chances of an October rate cut rose to 100 percent from
60 percent on Thursday.


Read more at Reuters.com Bonds News

Asian Stocks Fall in U.S. Trading on Economy Concern, Led by Telecom N.Z.

(Bloomberg) -- Asian stocks fell in U.S. trading,
posting their longest streak of weekly losses since September,
amid concern a housing slump may slow U.S. consumer spending.
Telecom Corp. of New Zealand slid after forecasting a drop in
earnings.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, lost 2.3 percent to
158.70, completing the week down 3.7 percent. That's the
measure's third weekly decline.


Read more at Bloomberg Stocks News

Edwards calls for tougher scrutiny of imported toys

(Reuters) - The former North Carolina senator said the government should take steps to crack down on "unsafe trade," citing the recall on Wednesday of 1.5 million Chinese-made Fisher-Price toys.




"The recall of Fisher-Price toys highlights the need for smarter, safer trade and consumer protection policies in this country," Edwards said in a statement.


Read more at Reuters.com Government Filings News

TREASURIES-Bond prices gain after soft jobs, services data

(Reuters) - NEW YORK, Aug 3 - U.S. government debt prices
rose on Friday as soft data on the U.S. job market and services
sector spurred more bond investors' bets the Federal Reserve
may start cutting interest rates before year end.




U.S. stocks sagged partly on weak signals in the data,
helping to contributed to safe-haven bids for Treasuries, with
worries about riskier credit and the impact of subprime debt on
the financial sector resurfacing. Credit rating agency Standard
& Poor's cut Bear Stearns 's debt outlook, sending its
shares down.


Read more at Reuters.com Bonds News

Canada dlr has become more resilient to risk-RBC

(Reuters) - When uncertainty over the U.S. economy -- where the bulk of
Canada's exports go -- or the global economic outlook
increased, the Canadian dollar would tend to drop as a flight
to quality would offer a boost to the U.S. dollar.




But David Watt, a senior currency strategist at RBC Capital
Markets, said the currency remains a pro-cyclical, commodity
sensitive currency, yet the U.S. greenback's tendency to rally
during periods of heightened risk has diminished.


Read more at Reuters.com Bonds News

US STOCKS-Credit worries, economic data drag on Wall St

(Reuters) - NEW YORK, Aug 3 - U.S. stocks fell on Friday as
fears about mortgage losses intensified after a ratings agency
cut its outlook on Bear Stearns Cos.' debt, while data
suggested weakness in the economy.




Standard & Poor's said it cut its ratings outlook on
investment bank Bear Stearns to "negative" from "stable,",
indicating a greater chance of a downgrade over the next two
years. For details, see [ID:nN03300207].


Read more at Reuters.com Bonds News

FED FOCUS-October FOMC being eyed for first rate cut

(Reuters) - Following a report on Friday that showed U.S. non-farm
payrolls expanded by a slim 92,000 workers last month, the
implied chances of an October rate cut, shown in interest rate
futures, hit almost 75 percent, the highest in three months.




Futures prices also show about a 50-percent chance the Fed
will cut rates twice by year-end.


Read more at Reuters.com Bonds News

TV journalist in affair with L.A. mayor keeps job

(Reuters) - In the latest twist of the scandal engulfing one of the most promising Latinos in U.S. politics, Mirthala Salinas, 35, was suspended without pay for two months at KVEA-TV Channel 52, the Telemundo network said late on Thursday.




Salinas and two executives were reprimanded after a three-week Telemundo inquiry found there had been a "flagrant violation" of ethical guidelines at KVEA, a leading Spanish-language news channel in a city where 46 percent of residents are Latino.


Read more at Reuters.com Bonds News

U.S. Stocks Retreat on Subprime Concern, Lower-Than-Forecast Jobs Growth

(Bloomberg) -- U.S. stocks wiped out their gains for
the week after Bear Stearns Cos. had its credit-rating outlook
cut and concern grew the pace of takeovers may be reduced by bond
market losses.

Bear Stearns Cos. fell for the 14th time in 15 days after
Standard & Poor's said declining prices for mortgage-backed
securities may reduce earnings. Countrywide Financial Corp. and
CIT Group Inc. led financial shares to a year low after American
Home Mortgage Investment Corp. told staff it will shut down.
Network Appliance Inc. declined to the lowest since 2005 after
the data-storage computer maker's profit missed its forecast.


Read more at Bloomberg Stocks News

Jones Soda shares plunge after downbeat earnings

(Reuters) - But a delay in that launch hurt gross margin in the latest quarter, causing Jones to earn nil per share, below analysts' average view for a profit of 4 cents per share.




"We believe the weak second-quarter result will give bears added ammunition that concentrate case sales may never materialize to the company's expectations," wrote Stifel Nicolaus analyst Mark Swartzberg.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Bayou hedge fund investor lawsuit dismissed

(Reuters) - The suit alleging breach of fiduciary duty was filed in
2006 against advisor Hennessee Group by South Cherry Street
LLC, which invested $1.15 million into Bayou in 2003-2004 on
Hennessee's recommendation.




Bayou, which once managed over $400 million, collapsed in
2005 after the discovery of multiple frauds by its managers led
by Sam Israel III and Daniel Marino, both of whom later pleaded
guilty to various charges and await sentencing.


Read more at Reuters.com Mergers News

Japan's Bonds Advance on Speculation Mortgage Losses to Slow U.S. Growth

(Bloomberg) -- Japan's five-year notes rose for a
fourth week on speculation losses tied to mortgages will slow
growth in the U.S., making it harder for the Bank of Japan to
raise interest rates this month.

Five-year notes completed the longest weekly advance since
May 2005 on concern riskier assets such as corporate bonds and
stocks will extend losses. Bear Stearns Cos., the manager of two
hedge funds that collapsed last month, said this week it blocked
investors from pulling money out of a third.


Read more at Bloomberg Bonds News

India HDFC to pick insurance partner in 2 wks-paper

(Reuters) - The shortlisted firms include U.S.-based Travelers and Australia's IAG Group and another U.S. company that was not named, the paper said without directly attributing the information to a source. HDFC had ruled out Germany's Ergo as a partner in its wholly owned HDFC Chubb General Insurance Co., although the two firms were still in talks, the newspaper said with no direct attribution to a source.



HDFC bought its partner Chubb Corp's 26 percent stake in the general insurance venture earlier this year after an uneasy relationship stalled growth.


Read more at Reuters.com Mergers News

EU mergers and takeovers (Aug 3)

(Reuters) - APPROVALS AND WITHDRAWALS:




-- Saudi Arabian chemical company SABIC to buy GE
Plastics, a General Electric Co unit


Read more at Reuters.com Mergers News

UPDATE 1-RBS says "bemused" by ABN CEO's remarks on Fortis

(Reuters) - ABN's chief executive Rijkman Groenink was quoted as saying
"Fortis is paying too much for ABN AMRO" and its "shareholders
would be well advised to vote against the takeover" in the Dutch
newspaper Het Financieele Dagblad.




A spokeswoman for Fortis said the comments were "very
inappropriate" and "far from neutral".


Read more at Reuters.com Mergers News

EU clears SABIC's buy of GE Plastics

(Reuters) - GE Plastics, headquartered in Pittsfield, Massachusetts,
employs 10,300 people in 60 countries and makes resins used in
products ranging from health care equipment to packaging for
consumer goods.




It has major factories in Indiana, New York, West Virginia
and Alabama. In 2006, the division's profit fell 22 percent to
$674 million on slightly higher revenue of $6.65 billion.


Read more at Reuters.com Government Filings News

UPDATE 3-EU executive sees no pan-EU fallout from IKB

(Reuters) - BRUSSELS, Aug 3 - The European Commission is
monitoring closely the multi-billion euro rescue of Germany's
IKB bank but sees no pan-European implications from
the problem, the European Union's executive said on Friday.




Officials working for Internal Market Commissioner Charlie
McCreevy, the bloc's top financial regulator, and for Economic
and Monetary Affairs Commissioner Joaquin Almunia, are studying
the situation at IKB, a Commission spokesman said.


Read more at Reuters.com Government Filings News

Oil tumbles below $76 on U.S. economic data

(Reuters) - U.S. stocks fell on Friday after a report showing weaker-than-expected job growth last month was followed by a report of slowing service-sector growth, rattling investors already nervous about losses in the mortgage industry.




The U.S. service sector grew much more slowly in July, according to a report by the Institute for Supply Management.


Read more at Reuters.com Hot Stocks News

Corrected: At American Home, it's one last day at the office

(Reuters) - What was different was that the checks would be their last.




One day earlier the mortgage lender said it would fire nearly 7,000 employees, an exclamation mark to one of the biggest and fastest corporate collapses in the U.S. housing downturn. Friday would be the last day.


Read more at Reuters.com Business News

Rand firm vs dollar, eyes Mboweni comments

(Reuters) - South Africa's rand was trading stronger early on Friday and could test its firmest levels of the week as markets eye U.S. payrolls data and comments by central bank Governor Tito Mboweni to parliament.

The domestic currency was changing hands at 7.05 to the dollar at 0630 GMT, versus its previous New York close of 7.09.


Read more at Reuters Africa

Barclays Kenya's pretax profit rises 17 pct

(Reuters) - Barclays Bank Kenya reported a 17 percent rise in pretax profits on Friday to 3.547 billion shillings for the first half of 2007 as new branches led to growth in its assets.

"This is a very good result ... mainly driven by a strong asset growth and a significantly improved credit risk profile," Charles Ongwae, the bank's director of finance and planning told an investor briefing.


Read more at Reuters Africa

US stock indexes flat after jobs data; ISM to come

(Reuters) - U S. stocks were little changed on Friday after a report showing weaker-than-expected job growth last month rattled investors already nervous about losses in the mortgage industry.

Investors were bracing for data on the vast U.S. services sector at 10 a.m. (1400 GMT).


Read more at Reuters Africa

Brazil's FIPE inflation slows to 0.27 pct in July

(Reuters) - Clothing prices fell 0.62 percent and transport costs
extended their drop to 0.38 percent after 0.16 percent the
previous month. Food prices rose the most, by 1.06 percent, but
much less than in June, when the rise was of 1.9 percent, due
to a seasonal decline in output of certain crops.




The Fipe index is closely watched by economists for trends
in Brazil's benchmark IPCA inflation index, which is used by
the central bank to set interest rates.


Read more at Reuters.com Economic News

Canada 2007-08 budgets all in the black - report

(Reuters) - "Official projections put the 2007-08 federal and aggregate
provincial budget balances at $3 billion each,"
said Lovely.




"However, robust nominal income growth hints that planning
targets could again be too modest, particularly at the
provincial level, where fiscal results are traditionally more
tightly correlated with underlying economic conditions than at
the federal level."


Read more at Reuters.com Economic News

Tomkins profit up, sees tough H2 on US housing market

(Reuters) - "The weakness of the U.S. residential housing market has
been more significant than many had predicted ... The demand
from North American automotive original equipment manufacturers
also remains uncertain," it said in a statement.




"For the balance of the year the reported performance of the
group will reflect the lower level of activity in these two
principal markets and the continuing translation impact of the
U.S.dollar."


Read more at Reuters.com Market News

UPDATE 1-Spain airline Vueling warns on 2007 core earnings

(Reuters) - Competitive pressures on fares and rising fuel prices led to
a loss before interest, tax, depreciation and aircraft rentals
of 7.76 million euros, compared with earnings of 7.38
million a year ago, it said.




The carrier said it expected sales to rise by 57 to 64
percent this year, with EBITDAR between 23 million and 42
million euros.


Read more at Reuters.com Market News

Tax rate takes bite out of Tim Hortons profit

(Reuters) - OTTAWA, Aug 3 - Coffee and doughnut chain Tim Hortons said on Friday that second-quarter profit fell 12 percent, despite higher revenue, because of a higher tax rate.



Spun off in March of 2006 from U.S. fast food chain Wendy's International , Tim Hortons said it earned C$67.2 million , or 36 Canadian cents a share. That is down from a profit of C$76.3 million, or 39 Canadian cents, in the year-before period.


Read more at Reuters.com Market News

Procter & Gamble profit rises, buybacks planned

(Reuters) - The company also said that its fiscal 2008 profit could come in below Wall Street's expectations.



Profit was $2.27 billion, or 67 cents per share, in the fiscal fourth quarter ended in June, up from $1.9 billion, or 55 cents per share, a year earlier.


Read more at Reuters.com Market News

Abe's Vision for `Beautiful Japan' Turns Ugly After Parliamentary Losses

(Bloomberg) -- Shinzo Abe's vision for a ``Beautiful
Japan'' has turned into a potentially ugly scenario for his
political future.

After losing control of the upper house of parliament in
elections July 29, Abe, 52, must ditch his plan to turn Japan
into a nation that's more assertive in international affairs,
proud of its traditions and loved by other countries, analysts
said. Now he must focus on the economy to ward off a move for an
early general election from the opposition Democratic Party of
Japan.


Read more at Bloomberg Exclusive News

Doomsday Simulations Help U.S. Gird for Hurricanes, Pandemics, Terrorism

(Bloomberg) -- The computer screen shows a toxic
cloud rolling slowly over buildings, a visualization that
permits scientists to record every lethal swirl and eddy and to
calculate the toll for a city's residents.

It's a far cry from ``The Sims,'' an addictive computer
game that lets users create a virtual universe. As displayed on
computers nicknamed ``Coyote'' and ``Thunderbird,'' disaster
simulations conducted under a $25 million program run by Sandia
and Los Alamos national laboratories are helping the U.S.
government predict the impact of chemical or biological attacks,
killer hurricanes, or accidents such as the collapse of the
bridge on the main highway into Minneapolis.


Read more at Bloomberg Exclusive News

U.K. Pound Heads for Weekly Advance Versus Dollar as Carry Trade Resumes

(Bloomberg) -- The pound headed for a weekly gain
against the dollar as credit markets rebounded, prompting
investors to resume so-called carry trades.

The pound is also poised for its biggest advance against
the yen in six weeks as stocks recovered and traders bought
high-yielding currencies with loans from Japan. Investors added
to bets the Bank of England will raise interest rates at least
once more from 5.75 percent by year-end.


Read more at Bloomberg Currencies News

Chalongphob Says More Room for Cutting Thailand's Benchmark Interest Rate

(Bloomberg) -- Thailand's central bank may be able
to cut borrowing costs further as inflation fell to a three-year
low, Finance Minister Chalongphob Sussangkarn said.

``Maybe, there there's more room for declines as inflation
is low,'' Chalongphob said in an interview today in Coolum,
Australia, where he is attending a meeting of finance ministers
from the 21-member Asia-Pacific Economic Cooperation forum. ``My
view is that rates are close to bottom.''


Read more at Bloomberg Emerging Markets News

Citigroup CEO says not rattled by market woes: report

(Reuters) - He told the Times, "I think our performance is going to
last much longer than the market turbulence does."




Prince said that investors who used to snap up leveraged
loans with easy terms are now on the sidelines as the "market
shakes itself out and probably will for a period of time." But
he told the paper that the businesses that are borrowing the
money are doing fine.


Read more at Reuters.com Bonds News

Taiwan Shin Kong says exposed to U.S. subprime mkt

(Reuters) - The firm's life insurance arm, Shin Kong Life, has T$1.17
trillion in total assets.




"All ABS CDOs held by Shin Kong Life are A-rated or above,
with 26 percent in AAA, 34 percent in AA and 40 percent in A.
There has been no downgrade and payments have been normal,"
chief financial officer Winston Yung said in the statement,
without providing an estimate for potential losses.


Read more at Reuters.com Bonds News

US RATE FUTURES-View of Fed cut inches up on jobs

(Reuters) - The Labor Department said 92,000 nonfarm payroll jobs were
created in July, below the median forecast of 130,000. June
payrolls were revised to 126,000 from 132,000 earlier.




Read more at Reuters.com Bonds News

REFILE-TREASURIES-Bond prices rise after soft US jobs report

(Reuters) - NEW YORK, Aug 3 - U.S. government debt prices
rose on Friday as bond investors added to bets that the Federal
Reserve may start cutting interest rates before year end after
a soft July jobs report.




U.S. stocks futures turned down, pointing to a lower start
on Wall Street, which helped to stoke a moderate safe-haven bid
for Treasuries.


Read more at Reuters.com Bonds News

U.K. Stocks Decline, Led by Standard Life, BG Group; British Airways Rises

(Bloomberg) -- U.K. stocks fell as earnings from
Anglo American Plc and British Airways Plc failed to dissipate
concern that losses are widening in the U.S. subprime credit
market.

Standard Life Plc and Old Mutual Plc led financial shares
lower as Allianz SE said it has 1.7 billion euros ($2.3 billion)
in investments tied to subprime mortgages. BG Group Plc paced a
drop in energy-related companies.


Read more at Bloomberg Stocks News

Asian Currencies Decline as Global Investors Shun Emerging-Market Assets

(Bloomberg) -- Asian currencies slid on speculation
investors were selling emerging-market assets as losses related
to U.S. subprime mortgages worsen.

The Philippine peso, the third-best performer in the region
this year after the Thai baht and Indian rupee, led losses as
Bear Stearns & Cos. yesterday halted redemptions from a third
hedge fund. The South Korean won weakened as Finance Minister
Kwon Okyu told CNBC its appreciation has affected the economy and
the government is ready to take action if necessary.


Read more at Bloomberg Currencies News

South Korea's Exports Grow at Fastest Pace in Six Months on Cars, Phones

(Bloomberg) -- South Korea's exports grew at the
fastest pace in six months in July, evidence that global demand
is robust enough to counter the effects of a stronger won.

Exports rose 20 percent from a year ago after climbing 15.3
percent in June, the commerce ministry said today in Gwacheon.
That compared with the 21 percent median estimate of 11
economists surveyed by Bloomberg News.


Read more at Bloomberg Emerging Markets News

Ten-Year Treasury Yields Hold Near Lowest Since May on Demand for Safety

(Bloomberg) -- U.S. 10-year Treasury yields held
near the lowest since May as stock declines fed demand for the
relative safety of government debt.

Yields may fall for a second day on expectations a slump in
the housing market will curb demand for riskier assets. Treasury
rates mostly moved in the same direction as U.S. shares in the
last two weeks of July. The 10-year yield and the Standard &
Poor's 500 Index had a correlation of 0.85 in the last two weeks.
A figure of 1 would indicate they moved in lockstep.


Read more at Bloomberg Bonds News

New York state power grid CEO to step down

(Reuters) - In a statement, the NYISO said Lynch oversaw the successful
management of peak loads last summer without major service
interruptions, as well as adding renewable power sources and
"demand response" power conservation programs.




Lynch is NYISO's second president and CEO since it was
formed in 1999 to facilitate the restructuring of New York's
electric industry. NYISO operates the state's electricity grid
and administers the state's wholesale electricity markets.


Read more at Reuters.com Bonds News

News Corp board OKs deal to buy Dow Jones

(Reuters) - Members of the Bancroft family holding at least 38 percent of Dow Jones' voting shares are in favor of the deal, a source familiar with the matter said after the News Corp board meeting ended.




That level of support represents more than half of the 64 percent voting shares held by the family.


Read more at Reuters.com Business News

NEWSMAKER-Dow Jones sale to end Bancroft media reign

(Reuters) - The Bancrofts are among a group of centenarian newspaper
families that includes the Sulzberger clan, who run The New
York Times Co. , and the Chandlers, who cashed out of
Tribune Co. earlier this year.




In the sepia-toned years of the late 19th and early 20th
centuries, these families were stewards of what many historians
characterize as the golden age of news.


Read more at Reuters.com Mergers News

UPDATE 3-Whole Foods quarterly profit tops view, shares up

(Reuters) - CHICAGO, July 31 - Whole Foods Market Inc.
posted quarterly profit on Tuesday that dropped less
than Wall Street anticipated as same-store sales stabilized and
margins improved, sending its shares up as much as 11 percent.




Whole Foods is trying to buy smaller rival Wild Oats
Markets Inc. . But the Federal Trade Commission is
challenging the deal in federal court on grounds that it would
hobble competition in the natural and organic grocery market.


Read more at Reuters.com Market News

Japanese Shares May Drop, Led by Exporters, on U.S. Concerns, Stronger Yen

(Bloomberg) -- Japanese stocks may fall after American
Home Mortgage Investment Corp. said it lacks cash to fund new
loans, sending U.S. shares lower and reigniting concerns the
subprime rout will curb growth in the world's largest economy.

Exporters including Sony Corp. may pace declines after the
yen strengthened, cutting the value of their overseas sales in the
local currency. The U.S. Standard & Poor's 500 Index posted its
biggest monthly decline in three years.


Read more at Bloomberg Stocks News

Orange-Juice Futures Climb as Tropical Storm Chantal Forms in Atlantic

(Bloomberg) -- Orange-juice futures rose in New York
after Chantal, the third tropical storm of the Atlantic hurricane
season, formed between Bermuda and Massachusetts.

Chantal probably won't threaten land and will likely die out
in the next day or two while moving to the northeast, according
to the U.S. National Hurricane Center. Storm activity during the
Atlantic hurricane season, which runs from June 1 through
Nov. 30, usually increases in late July.


Read more at Bloomberg Commodities News

Cephalon posts loss on legal cost, generic rivals

(Reuters) - NEW YORK, July 31 - Cephalon Inc. reported a second-quarter loss on Tuesday as the biotechnology company was hit by legal costs and plunging sales of its cancer pain drug, Actiq, due to generic competition.



The Frazer, Pennsylvania-based company posted a net loss of $4.3 million, or 6 cents per share, compared with a net profit of $50.4 million, or 76 cents per share, a year ago.


Read more at Reuters.com Market News

Stratos moves to profit, ups outlook ahead of sale

(Reuters) - Stratos, which provides telecom services to customers in
remote parts of the world, said it earned $6.6 million, or 16
cents per share, in the three months ended June 30. That was up
from the loss of $4.1 million, or 10 cents per share, in the
second quarter of last year.




Stratos is being bought by CIP, an investment firm focused
on satellite services, for C$294 million .
Shareholders overwhelmingly approved the deal last month.


Read more at Reuters.com Mergers News

UPDATE 1-Enron plaintiffs ask Bush to back 3rd-party suits

(Reuters) - WASHINGTON, July 31 - Former Enron Corp
shareholders called on the White House on Tuesday to support
efforts to hold third parties accountable when their actions
help a company defraud investors.




In a last-ditch attempt to get the administration to back
their effort to have the U.S. Supreme Court allow shareholders
to sue third parties, the group of former Enron shareholders
have written to President George W. Bush.


Read more at Reuters.com Government Filings News

Yen Extends Gains Against Euro and the Dollar on Renewed Credit Risk

(Bloomberg) -- The yen gained, after posting its
biggest monthly advance in more than a year against the euro,
on concern that losses from U.S. subprime mortgages will push
investors to pare riskier investments funded by loans in Japan.

Traders pushed up the yen against all 16 major currencies
tracked by Bloomberg yesterday as they reduced so-called carry
trades after American Home Mortgage Investment Corp. said it may
have to sell off assets. U.S. stocks slumped and a gauge of
corporate bond risk increased, prompting investors to trim their
appetite for higher-yielding assets.


Read more at Bloomberg Currencies News

UPDATE 1-Florida orders Progress to refund $13.8 mln

(Reuters) - After a four-hour discussion, the commission voted to
accept a staff recommendation that the St. Petersburg utility
was imprudent in purchasing coal for two units at its Crystal
River generating station in Citrus County.




The staff recommendation calling for a $12 million refund,
plus interest, was far short of a request from the state's
consumer advocate and the attorney general who sought refunds
and interest totaling $155 million, according to filings from
the agency's Web site.


Read more at Reuters.com Bonds News

Millipore quarterly profit falls

(Reuters) - Net sales rose 40 percent to $383.2 million for the
quarter.





Read more at Reuters.com Market News

American Home says may liquidate assets

(Reuters) - The large U.S. mortgage provider and real estate investment trust said its lenders cut off access to credit, leaving it without cash on Monday to fund $300 million of loans it had agreed to make.




It also expected to be unable to fund $450 million to $500 million of loans on Tuesday.


Read more at Reuters.com Hot Stocks News

MetLife posts sharply higher 2Q net

(Reuters) - New York-based MetLife, which is also a home and car insurer, said operating earnings, which analysts use to measure performance because it excludes investments, were $1.31 billion or $1.72 a share.




Analysts, on average, had expected the insurer to earn $1.33 a share from operations, according to Reuters Estimates.


Read more at Reuters.com Business News

Moody's Says Some `Alt A' Mortgages Like Subprime, Changes Ratings Methods

(Bloomberg) -- Moody's Investors Service described
some so-called Alt A mortgages as no better than subprime home
loans, saying it will change how it rates related securities
after failing to predict how far delinquencies would rise.

The ratings firm said today its expectations for losses on
Alt A mortgages will rise between 10 percent and 100 percent,
depending on whether a loan pool has a lot of debt extended to
borrowers with low credit scores and little money for down
payments. It's also raising loss expectations when borrowers
don't fully document their incomes.


Read more at Bloomberg Bonds News

TREASURIES-Bonds climb as stock markets tumble

(Reuters) - Bonds have closely mirrored stocks recently, gaining when
stocks fall as investors turn to the relative safety of bonds.




"Bonds are not leading, they are being led -- it's not much
more complicated than that," said David Ader, head of
government bond strategy at RBS Greenwich Capital in Greenwich,
Connecticut.


Read more at Reuters.com Bonds News

Central Florida counties aboard for $615 mln rail project

(Reuters) - Volusia County, the last local signatory needed, on Tuesday
committed to helping pay the tab for the rail system, which
will be financed through 30-year fixed guideway bonds issued
through the state of Florida.




"The train is here. It's not coming. It's here," Volusia
County Councilman Jack Hayman said after a unanimous vote in
favor of the plan.


Read more at Reuters.com Bonds News

Avon quarterly profit falls on costs

(Reuters) - The world's largest direct seller of cosmetics said net income fell to $113 million, or 26 cents a share, from $151 million, or 33 cents a share, in the year-ago period.




Income included pretax costs of about $82 million on restructuring and revamping its products. Excluding the charges, the company earned 38 cents per share, according to Reuters Estimates, missing Wall Street's forecast of 42 cents.


Read more at Reuters.com Bonds News

Teck Cominco says still in hunt for acquisitions

(Reuters) - "There are a number of opportunities that we have been
looking at but unable to conclude a deal at this
point," Don Lindsay, Teck's president and CEO, told a
conference call.




"We don't want to telegraph any moves in advance ... but we
are committed to diversification."


Read more at Reuters.com Mergers News

Rogers CEO shoots down talk of Shaw takeover

(Reuters) - His remarks came after a Canaccord Adams analyst published a research note last week in which he speculated the two big Canadian cable-TV and telecoms companies could be in talks for a deal that would value Shaw at as much as C$14.4 billion .




Rogers called the speculation "plain irresponsible" and also criticized the media for reporting on "some completely theoretical diatribe".


Read more at Reuters.com Mergers News

UPDATE 1-Chile's Pinera quits as director of airline LAN

(Reuters) - In a brief statement to the Santiago stock exchange, LAN
said it was notified of Pinera's decision on Monday but gave no
further details.




In a telephone interview with Reuters, Pinera said he was
leaving the board at LAN to focus on politics.


Read more at Reuters.com Government Filings News

GLOBAL MARKETS-Stocks rally worldwide as credit markets calm

(Reuters) - Earnings from General Motors Corp. sharply exceeded
Wall Street's estimates, driving its stock up nearly 3 percent
and lifting the Dow industrials as it increased investor
optimism about U.S. corporate profits.




The broad market also was bolstered by an inflation
indicator that rose less than expected in June.


Read more at Reuters.com Bonds News

Canada's April daily FX turnover rose nearly 13 pct

(Reuters) - In the survey of foreign exchange turnover in Canada, the
CFEC said average total daily turnover in the 20-business-day
April 2007 period was $55.5 billion.




That's up 12.8 percent from a $49.2 billion average daily
turnover during the 21-day period in October 2006, and 5.5
percent higher than $52.6 billion in April 2006.


Read more at Reuters.com Bonds News

Dow Jones, Faro, Fresh Del Monte, IndyMac, Midwest Air: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 1:10 p.m. in New York.

Aftermarket Technology Corp. (ATAC US) rose the most since
January 2001, jumping $6.75, or 25 percent, to $33.24. The car-
parts maker increased its 2007 forecast, saying it expects to
earn $1.55 to $1.70 a share. The company earlier predicted profit
of as much as $1.55.


Read more at Bloomberg Stocks News

Oddo to Shut French CDO Funds `Caught Out' in U.S. Subprime-Mortgage Rout

(Bloomberg) -- Oddo & Cie, a French stockbroker and
money manager, plans to close three funds totaling 1 billion
euros ($1.37 billion), citing the ``unprecedented'' crisis in
the U.S. asset-backed securities market.

Oddo said it will wind down the funds within the ``shortest
possible time frame'' after struggling to value holdings of
collateralized debt obligations, notes backed by other bonds,
loans and their derivatives.


Read more at Bloomberg Bonds News

Wendy's shares up on hopes of near-term sale

(Reuters) - A Wendy's spokesman would not comment on the letter.




In a note to clients on Tuesday, UBS analyst David Palmer said Peltz's interest would renew investor hope of a near-term sale of Wendy's, which has been struggling to revitalize sales at its hamburger restaurants.


Read more at Reuters.com Hot Stocks News

RLPC-UPDATE 1-Myers Industries postpones $950 mln LBO financing

(Reuters) - Already this week, CW Media, Integra Telecom and Stoneridge
have been forced to postpone their financings due to weak debt
market conditions.




The financing, which was being arranged by Goldman Sachs,
consisted of a $685 million bank loan and $265 million in
senior subordinated notes.


Read more at Reuters.com Mergers News

Dollar Poised for Second Monthly Decline Against Euro and Pound on Risks

(Bloomberg) -- The dollar headed for a second
monthly decline against the euro and pound as strengthening
global equity markets eased concern that tightening credit
conditions will drive investors from riskier assets.

Investors sold the U.S. currency and the yen today to buy
higher-yielding assets in New Zealand and Australia. The risk of
owning corporate bonds fell by the most in at least three years,
according to traders of credit-default swaps.


Read more at Bloomberg Currencies News

UPDATE 1-FirstService reports higher profit, ups outlook

(Reuters) - The company also raised its outlook for fiscal 2008.




The real estate and property services company earned a net
profit of $18.1 million, or 61 cents a share, in the three
months ended June 30, up from C$12.8 million, or 43 cents a
share, in the same quarter last year.


Read more at Reuters.com Market News

UPDATE 1-Bemis 2nd-quarter profit climbs, lowers forecast

(Reuters) - Quarterly net income was $49.5 million, or 47 cents a
share, compared with $48.9 million, or 46 cents per share, in
the year-ago period, the Neenah, Wisconsin-based company said.




The company's quarterly results for the year-ago period
included restructuring and related charges totaling 5 cents a
share.


Read more at Reuters.com Market News

UPDATE 1-Arch Chemicals second-quarter net declines

(Reuters) - Net income was $22.8 million, or 93 cents a share, compared
with $29.5 million, or $1.22 a share, a year earlier, the
Norwalk, Connecticut-based company said.




Excluding one-time items, earnings from continuing
operations rose to $1.41 a share from $1.22 a year ago.


Read more at Reuters.com Market News

Agco profits beats forecasts, raises estimates

(Reuters) - CHICAGO, July 31 - Agricultural equipment maker Agco Corp. said on Tuesday that its quarterly earnings surged a stronger-than-expected 56 percent, helped by robust sales in South America, especially Brazil.



The company also raised its guidance for the full year, sending its shares higher in early trading.


Read more at Reuters.com Market News

US FCC delays vote on wireless auction rules

(Reuters) - FCC Chairman Kevin Martin, a Republican, has proposed
allowing requiring the winning bidders of some of the airwaves
-- to be sold by early next year -- to allow consumers to
connect using any device or software.




The airwaves to be sold in the 700-megahertz band can
travel long distances and penetrate thick walls. The auction
is seen as a last opportunity for a new player to enter the
wireless market.


Read more at Reuters.com Government Filings News

Carrefour Lures Shoppers, Investors as Food Scares Grip China

(Bloomberg) -- Wang Daying no longer buys her pork
straight off the carcass. These days, the doctor shops at an
underground, air-conditioned Carrefour SA store in north Beijing.

``Big supermarkets have quality safeguards, particularly
foreign companies,'' said Wang, 69. ``I've become more
cautious.''


Read more at Bloomberg Exclusive News

UPDATE 1-US July consumer confidence at 6-year high-Conf Bd

(Reuters) - The Conference Board said its index of consumer sentiment
rose to 112.6 in July, the highest reading since August 2001
and above an upwardly revised 105.3 in June.




"An improvement in business conditions and the job market
has lifted consumers' spirits in July," said Lynn Franco,
director of The Conference Board Consumer Research Center, in a
press release.


Read more at Reuters.com Bonds News

Midwest Air to start talks with AirTran

(Reuters) - The company said in a statement on Tuesday that while it had not changed its recommendation that shareholders reject the bid, it planned to start talks with AirTran.




Midwest said its board had formed a committee to explore strategic and financial alternatives, and that it would hold discussions with other parties that have recently expressed interest in the company.


Read more at Reuters.com Mergers News

Timken quarterly profit falls on weak auto demand

(Reuters) - Excluding special items, income from continuing operations
fell to 73 cents per share from 80 cents per share a year ago.




Analysts, on average, expected profit of 72 cents per
share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-Heidrick & Struggles profit boosted by tax credits

(Reuters) - Net income for the quarter rose to $21 million, or $1.11
per share, from $10.4 million, or 55 cents per share, in the
same period a year ago.




Excluding the $8.5 million tax benefit, earnings would have
been 66 cents per share, the company said.


Read more at Reuters.com Market News

UPDATE 1-NEWSMAKER-"You're hired!" Murdoch tells Sugar

(Reuters) - LONDON, July 31 - Alan Sugar, the businessman
famous for telling aspiring entrepreneurs "You're fired!" on TV
reality show "The Apprentice," backed the sale of his Amstrad
electronics business to Rupert Murdoch's BSkyB on Tuesday.




And he gets to keep his job.


Read more at Reuters.com Mergers News

Coach quarterly profit rises

(Reuters) - Net income for the fourth quarter ended on June 30 increased to $160.6 million, or 42 cents per share, from $117.6 million, or 31 cents per share, a year earlier.



New York-based Coach had previously forecast quarterly earnings of 40 cents per share.


Read more at Reuters.com Market News

Suez First-Half Sales Rise 5.8 Percent on Higher Power Production, Prices

(Bloomberg) -- Suez SA, the French energy and water
group, reported an 8.5 percent increase in second-quarter sales
as higher electricity prices and output offset lower demand for
natural gas caused by above-average temperatures.

Sales climbed to 11.5 billion euros ($15.8 billion) from
10.6 billion euros a year earlier, Bloomberg calculated from
half-year figures published today by the Paris-based company.
Sales rose 5.8 percent to 23.7 billion euros in the first half.


Read more at Bloomberg Energy News

Wall Street set for firmer start, key data eyed

(Reuters) - In focus will be a series of economic data, including
consumer confidence data fur July at 1400 GMT, June's personal
consumption expenditures data at 1230 GMT and July's
Chicago PMI at 1345 GMT as well as construction spending data
for June at 1400 GMT.




Investors hope to get an indication of whether the weakness
in the subprime mortgage sector has spread to consumers yet,
Heinz-Gerd Sonnenschein from Germany's Postbank said.


Read more at Reuters.com Bonds News

France's CAC Rises; Vallourec, BNP and Rhodia Advance as Alcatel Slumps

(Bloomberg) -- French stocks climbed, paced by
Vallourec SA, Alstom SA and BNP Paribas SA.

Rhodia SA gained after reporting a second-quarter profit.
Alcatel-Lucent slid after reporting a wider-than-expected
quarterly loss.


Read more at Bloomberg Stocks News

Floods slash H1 Zambia copper output by 15 pct

(Reuters) - Zambia's finished copper output for the six months to June has declined by 15 percent to 229,102 tonnes compared with the first half of 2006, the central bank said on Tuesday.

The Bank of Zambia (BoZ) said most copper mines had not reached their normal production levels by June after experiencing floods earlier in the year and that an export ban for copper ore by Democratic Republic of Congo (DRC) authorities in March had also affected production.


Read more at Reuters Africa

Merger costs hit Alcatel-Lucent, shares drop

(Reuters) - Alcatel-Lucent, operating as a combined business since December 1 after the takeover of U.S.-based Lucent by Alcatel of France, has been struggling since then to keep customers spooked by uncertainty over the merged group's technology and product choices.




The group already warned in April that sales could fall short of earlier targets.


Read more at Reuters.com Hot Stocks News

Trichet, Poised to Raise Rates, Upholds Bundesbank's Anti-Inflation Legacy

(Bloomberg) -- The European Central Bank might be run
by a Frenchman; its heart and soul belong to Germany's Bundesbank.

ECB President Jean-Claude Trichet faces political pressure to
stop raising interest rates, and some of his own policy makers
query the extent of the inflation threat in Europe. Still,
investors are betting he'll push borrowing costs higher, upholding
the legacy of Germany's central bank, which celebrates its 50th
anniversary tomorrow.


Read more at Bloomberg Exclusive News

UPDATE 1-CVC Asia Pacific agrees to buy Taiwan curtain maker

(Reuters) - TAIPEI, July 31 - Private equity fund CVC Capital
Partners Asia Pacific has agreed to buy Taiwan curtain maker Nien
Made for T$18 billion at a 13.6
percent premium, the Taiwan firm said on Tuesday.




CVC Capital Partners Asia Pacific, whose investors include
CVC Capital Partners [CVC.UL] and Citigroup , will pay
T$41.28 a share for up to 100 percent ownership of the company,
Nien Made said in a statement to the Taiwan stock exchange.


Read more at Reuters.com Mergers News

Oil dips, investors brace for further crude draw

(Reuters) - Oil prices edged down on Tuesday, but U.S. crude stayed within sight of its record high as traders feared further declines in hefty crude stocks in the United States.

U.S. crude eased 22 cents to $76.61 a barrel by 0719 GMT, extending Monday's 19-cent drop after a day of volatile trade that saw prices swing between $76.05 and $77.33.


Read more at Reuters Africa

US, Britain optimistic for global trade

(Reuters) - The United States and Britain are optimistic that World Trade Organization members can reach a long-sought agreement soon in the Doha round of world trade talks, the two countries' leaders said on Monday.

"The president and I are one in seeking an early conclusion to a trade agreement," British Prime Minister Gordon Brown said at a joint news conference with Bush at the Camp David presidential retreat in Maryland.


Read more at Reuters Africa

European Stocks May Advance; Aviva, UBS, Glaxo, BHP Billiton May Gain

(Bloomberg) -- European stocks may advance for the
first time in six days on speculation shares have become cheap
relative to prospects for earnings growth.

Aviva Plc, HSBC Holdings Plc and UBS AG might lead financial
stocks higher after their U.S.-traded securities gained.
GlaxoSmithKline Plc, the region's second-largest drugmaker, may
rise after a panel of medical specialists said its Avandia drug
should remain on the U.S. market. BHP Billiton Ltd. and Rio Tinto
Group gained in Australia on higher copper prices.


Read more at Bloomberg Stocks News

UPDATE 1-Ryanair Q1 profit jumps stronger than expected 20%

(Reuters) - Europe's biggest low-cost carrier said profit after tax in
the three months to the end of June rose to 138.9 million euros
from 115.7 million in the same period of 2006
after passenger volumes on its growing network rose 18 percent.




That was broadly in line with the most optimistic forecast
in a Reuters poll of eight analysts, and well above the average
prediction of 123.9 million euros.


Read more at Reuters.com Market News

Japan's Stocks Slide; Kyocera Drops on Earnings, Steelmakers Fall on Probe

(Bloomberg) -- Japanese stocks fell after earnings
at companies including Kyocera Corp. lagged behind investor
expectations.

Stock losses spread in the afternoon after Japan's Fair
Trade Commission said it is investigating Nippon Steel Corp., JFE
Holdings Inc. and Sumitomo Metal Industries Ltd. on suspicion of
price fixing, sending their shares tumbling.


Read more at Bloomberg Stocks News

UPDATE 1-Melexis cuts 2007 revenue target after tight Q2

(Reuters) - Revenue rose just one percent year-on-year to 50.7 million
euros , against the average forecast from a
Reuters poll of six analysts of 53.2 million euros.




Melexis said it now aimed for revenue growth of between 3
and 4 percent this year, while keeping its net profit margin
target of 16-18 percent.


Read more at Reuters.com Market News

Antofagasta, SABMiller, Ryanair, Taylor Wimpey: U.K., Irish Stock 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 last market close.

The benchmark FTSE 100 Index dropped 9.10, or 0.15 percent,
to 6206.10. The FTSE All-Share Index declined 0.46, or 0.01
percent, to 3211.15.


Read more at Bloomberg Stocks News

Consumers in U.S. Probably Slowed Spending in June, Ceding Mainstay Role

(Bloomberg) -- Consumer spending in the U.S. rose
in June at the slowest pace in nine months as near-record
gasoline
prices and falling home values forced Americans to cut back,
economists said ahead of a government report today.

Spending increased 0.1 percent after rising 0.5 percent in
May, according to the median of 77 estimates in a Bloomberg News
survey before the Commerce Department release. The report's
inflation measures may show little change.


Read more at Bloomberg Currencies News

Japan's Bonds Are Little Changed on Speculation Rates to Rise Next Month

(Bloomberg) -- Japanese bonds were little changed
on speculation the ruling coalition's election defeat will give
the central bank more room to raise interest rates.

The Liberal Democratic Party won fewer seats on July 29
than needed to retain control of parliament's upper house, which
has the power to block legislation. Secretary general Hidenao
Nakagawa, who has said the central bank bears the burden for the
impact of higher borrowing costs, said yesterday he will resign
to accept responsibility for the election loss.


Read more at Bloomberg Bonds News

Malaysian Ringgit Gains as Stocks Rise; Government Bonds Little Changed

(Bloomberg) -- Malaysia's ringgit rose, ending a
four-day slump, as stocks rebounded and concern about risk
reduction eased. Government bonds were little changed.

The currency climbed after touching the lowest in almost a
month yesterday as U.S. stocks recovered from the worst two-day
slide since 2003, helping local stocks advance. A government
report this week may show export growth accelerated last month,
underpinning economic expansion in the second half of the year.


Read more at Bloomberg Bonds News

Japan's Topix Index Advances, Led by Olympus on Earnings; Kyocera Drops

(Bloomberg) -- Japan's Topix index advanced after
profit growth at companies including Olympus Corp. and Shinsei
Bank Ltd. attracted buyers.

Gains were limited after earnings at companies including
Kyocera Corp. lagged behind investor expectations.


Read more at Bloomberg Stocks News

China Needs More Flexible Foreign Exchange Policy, IMF Chief De Rato Says

(Bloomberg) -- China needs to have ``more
flexibility'' in its exchange rate policy, International
Monetary Fund Managing Director Rodrigo de Rato said in Manila.

Separately, De Rato said ``substantial flows'' of funds
worldwide raise the ``danger of abrupt reversal'' and may
produce ``sudden shocks.'' De Rato was speaking to businessmen
in Manila.


Read more at Bloomberg Currencies News

Australian Stocks Gain, Led by BHP, Newcrest, Qantas; Flight Centre Falls

(Bloomberg) -- Australian stocks rose, led by BHP
Billiton Ltd. and Newcrest Mining Ltd. after copper and gold
prices advanced.

Qantas Airways Ltd. gained after a newspaper report it will
be split into four separate businesses. Flight Centre Ltd. plunged
after it scrapped plans for a joint venture with a buyout firm.


Read more at Bloomberg Stocks News

Cowlitz Bancorp gets $15/share buyout offer

(Reuters) - Fitzpatrick said the company's board had not been
considering a sale, but that it would give careful
consideration to the proposal, as well as the company's
strategic plans and future prospects.




Cowlitz Bancorp shares closed up $1.06, up 8.56 percent, at
$13.44 on the Nasdaq.


Read more at Reuters.com Mergers News

Japan's Government Bonds May Fall as Riskier Assets Such as Stocks Recover

(Bloomberg) -- Japanese bonds may fall for a second
day as a recovery in global stock prices signaled investors are
shifting to riskier assets after last week's global rout in
corporate and emerging-market debt.

Ten-year yields may continue to climb from the lowest in
eight weeks after reports showed households increased spending
for a sixth month in June and the jobless rate fell, suggesting
Japan will extend its longest postwar expansion. The perceived
risk of owning corporate bonds in the U.S. fell yesterday from
the highest in at least three years.


Read more at Bloomberg Bonds News

Global Railway Industries, Pet Valu Canada: Canadian Equity Market Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed.
Symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index rose 116.19, or
0.9 percent, to 13,864.72.


Read more at Bloomberg Stocks News

Vulcan Materials posts lower quarterly profit

(Reuters) - Analysts were expecting $1.46 a share, according to Reuters
Estimates.




On July 18, Vulcan Materials, based in Birmingham, Alabama,
cut its second-quarter outlook to about $1.46 a share, from its
prior forecast of $1.55 to $1.70 a share, citing the slowdown
in residential construction.


Read more at Reuters.com Market News

WRAPUP 1-LatAm markets breathe easier, helped by Wall St

(Reuters) - Equity markets posted the largest gains, with Brazilian
stocks rallying more than 3 percent after losses of almost 8
percent last week. Mexican and Argentine stocks followed suit,
with gains of more than 1.5 percent each.




"For me, this is only an adjustment. It is not a sign that
the upward trend is back, we can't affirm that yet," said Nami
Neneas, head of equities at Banif brokerage in Sao Paulo.


Read more at Reuters.com Bonds News

UPDATE 1-DXP Enterprises Q2 earns below Street view, shares fall

(Reuters) - "DXP's second quarter results did not meet our expectations
and we were surprised by the softness we experienced in June,"
Chief Executive David Little said.




The Houston-based company reported earnings of $3.4
million, or 56 cents a share, compared with $3 million, or 51
cents a share, in the year-ago period.


Read more at Reuters.com Market News

UPDATE 1-Oxford Industries quarterly net profit falls

(Reuters) - The company said first quarter sales and earnings per share
would be at or slightly below expectations due to deferral of
shipments to the second quarter.




However, the company said it was still comfortable with its
full year sales and earnings forecast.


Read more at Reuters.com Market News

UPDATE 1-Sun Micro posts 4th-qtr profit vs loss

(Reuters) - The stock rose 12 percent to $5.47 in extended trading
following the earnings report after closing down 0.6 percent at
$4.89 on Nasdaq.




Earnings of 9 cents per share beat the analysts' average
estimate of 5 cents per share. Net income was $329 million in
the fourth quarter ended June 30, compared with a year-earlier
net loss of $301 million, or 9 cents per share.


Read more at Reuters.com Market News

UPDATE 1-Andrew Corp posts quarterly loss

(Reuters) - Andrew said its second-quarter net loss was $96 million, or
61 cents per share, compared to a net profit of $7 million, or
4 cents per share, a year ago. Revenue fell 1 percent to $546
million.




The company recorded 72 cents of unusual items, including
69 cents per share of goodwill impairment for its unprofitable
Base Station Subsystems unit, which makes stations for
directing cell phone traffic.


Read more at Reuters.com Mergers News

Texas Roadhouse quarterly net income rises

(Reuters) - Analysts on average expected the company to earn 13 cents a
share, before items, on revenue of $182.9 million, according to
Reuters Estimates.





Read more at Reuters.com Market News

U.S. Treasury raises quarterly borrowing estimate

(Reuters) - "The increase in borrowing is primarily the result of higher outlays, lower net issuance of state and local government series securities and adjustments in quarterly cash balances," Treasury said in an announcement of its anticipated borrowing needs.




During the April-June second quarter, Treasury said it paid down $139 billion, finishing on June 30 with a cash balance of $25 billion. That was $6 billion less than Treasury estimated in April that it would pay down -- a difference it said was "primarily the result of slightly lower receipts."


Read more at Reuters.com Business News

Coffee Rises in New York on Forecasts for Cold in Brazil's Growing Areas

(Bloomberg) -- Coffee rose in New York on
speculation that colder-than-normal weather in Brazil, the
world's largest producer, may develop into a crop-damaging
frost.

Temperatures may fall to 42 degrees Fahrenheit (6 degrees
Celsius) through Aug. 1 in Brazil's major coffee-growing
regions, according to Meteorlogix LLC in Woburn, Massachusetts.
Cold air moved into the coffee belt today, and a separate high-
pressure ridge may bring lower-than-normal temperatures into
southern Brazil on Aug. 5, the private forecaster said.


Read more at Bloomberg Commodities News

Latin American Stocks Rally; Mexico, Brazil Shares Have Best Gain in Month

(Bloomberg) -- Stocks in Latin America rallied as
analysts advised investors to buy companies with better-than-
expected profit growth after last week's global sell-off.

Brazil's Bovespa Index jumped 1,455.21, or 2.8 percent, to
54,377.44 as of 3 p.m. in New York. Mexico's Bolsa index rallied
747.88, or 2.5 percent, to 30,983.05. It was the biggest gain in
both markets since March 21.


Read more at Bloomberg Stocks News

Oil Is Steady, Close to One-Year High, on Expectations of Supply Shortfall

(Bloomberg) -- Crude oil fell from the highest in
almost a year, pulled lower by gasoline, on speculation U.S. fuel
stockpiles increased last week.

A government report on Aug. 1 will probably show that U.S.
inventories of gasoline and distillate fuel, a category that
includes diesel and heating oil, rose for a second week,
according to a Bloomberg News survey. The crude-oil market often
follows gasoline during the summer driving season, when motor-
fuel demand peaks.


Read more at Bloomberg Energy News

UPDATE 4-Simon Property FFO up on higher rents, occupancy

(Reuters) - NEW YORK, July 30 - Simon Property Group Inc
, the largest U.S. owner of shopping malls and outlet
centers, said on Monday quarterly funds from operations rose
4.1 percent helped by higher rents and occupancy, and the
company raised its forecast for the year.




Simon reported second-quarter FFO of $373 million, or $1.31
per share, compared with $358 million, or $1.26, a year
earlier. FFO is a measure of real estate investment trust
performance that factors out depreciation.


Read more at Reuters.com Bonds News

Venezuela Bolivar Declines to One-Month Low on Speculation Over Bond Sales

(Bloomberg) -- Venezuela's currency fell to a one-
month low in unregulated trading on speculation a government
dollar-denominated bond sale to local banks won't be large
enough to meet demand for foreign currency.

Venezuela and Argentina plan to sell a dollar bond together
by the end of August, said Ricardo Sanguino, president of the
Venezuelan congressional finance commission, after markets
closed July 27, without revealing how much they would sell.
Venezuela's Finance Minister Rodrigo Cabezas said in May the
countries planned to sell up to $1 billion of dollar and bolivar
bonds to Venezuelan investors by the end of the year.


Read more at Bloomberg Currencies News

Treasuries Drop as Yields Near Lowest in Two Months Fail to Attract Buyers

(Bloomberg) -- Treasuries declined as 10-year note
yields near the lowest level in more than two months failed to
attract buyers.

A gauge of momentum shows the yields are poised to rise
after dropping more than half a percentage point since peaking
at 5.327 percent on June 13. U.S. government debt rose last week
for a third straight week on bets rising defaults on home loans
to people with poor credit histories will slow the economy.


Read more at Bloomberg Bonds News

U.S., Britain optimistic for WTO trade deal

(Reuters) - "We agreed that contact between leaders will be stepped up so that we are ready to quickly finalize an agreement in the near future," Brown said.




Negotiators have been seeking to overcome a long-standing impasse over farm and manufacturing trade to reach a new world trade deal, which aims to lower trade barriers and bring developing countries into the world economy.


Read more at Reuters.com Bonds News

U.S., Britain optimistic of Doha deal, Bush says

(Reuters) - "Gordon Brown brought some interesting suggestions on the way forward. He's optimistic that we can conclude the Doha round, as am I," Bush said.




Read more at Reuters.com Bonds News

UPDATE 4-RadioShack posts profit but sales weaken

(Reuters) - "The sales performance continues to be weak," said Tiffany
Co, a director in the retail group with Fitch Ratings. She said
declining sales would eventually cut into earnings.




Sales fell 15 percent to $934.8 million, short of analysts'
estimates of $983.6 million. Sales at stores open at least a
year, a key measure of retail performance, dropped 8.9 percent.
RadioShack cited weaker wireless sales and the closure of 481
stores in 2006.


Read more at Reuters.com Market News

Liberty considers Virgin Media bid - source

(Reuters) - By Kenneth Li and Gavin Haycock



NEW YORK/LONDON, July 30 - U.S. media mogul John Malone is considering entering a $23 billion auction for Virgin Media , joining several potential suitors for the British cable operator, sources familiar with the matter said on Monday.


Read more at Reuters.com Mergers News

U.S. Stocks Drop on Lending Concern; Energy Shares, Exxon Mobil Retreat

(Bloomberg) -- Most U.S. stocks declined, dragging
European shares lower, after a German bank's losses from
subprime mortgages spurred concern rising defaults will reduce
lending and end the boom in leveraged buyouts.

Financial shares fell to a 10-month low after Germany's
IKB Deutsche Industriebank AG said it scrapped an earnings
forecast because of ``massive uncertainty'' in the markets.
Exxon Mobil Corp., the world's largest energy producer,
retreated on a drop in oil prices.


Read more at Bloomberg Stocks News

Fannie Mae to sell $5.0 billion bills on Wednesday

(Reuters) - Bids will be accepted from authorized dealers from 9:00
a.m. EDT , until 9:45 a.m. EDT .




Settlement is Aug. 1-2.


Read more at Reuters.com Bonds News

Mexico's Peso, Bonds Rise as Demand for Emerging Market Assets Rebounds

(Bloomberg) -- Mexico's peso and local-currency
bonds rose as higher prices for global stocks fueled investor
demand for riskier emerging-market securities.

The peso rose 0.4 percent to 10.9699 per dollar at 10:15
a.m. New York time. The peso's gain was the sixth-best
performance against the dollar among the 26 most-traded
emerging-market currencies.


Read more at Bloomberg Currencies News