Switzerland's Inflation Rate Stayed Unchanged in May, Matching Forecasts

(Bloomberg) -- Switzerland's inflation rate remained
unchanged in May, as higher costs for seasonal goods offset
cheaper prices for clothes and shoes.

Consumer prices rose 0.5 percent from a year earlier, the
Federal Statistics Office in Neuchatel said today. That's in line
with the median of 18 economists' estimates in a Bloomberg News
survey. From April, prices rose 0.2 percent.


Read more at Bloomberg Bonds News

European Stocks May Rise; BHP Billiton, Rio Tinto, Infineon Might Gain

(Bloomberg) -- European stocks may advance, paced by
basic resources and technology companies, after copper and gold
rose in Asia and U.S. computer maker Dell Inc. reported earnings
that topped analysts' estimates.

BHP Billiton, the world's largest mining company, and Rio
Tinto Plc, the third-biggest, gained in Australia. U.S.-traded
shares of Infineon Technologies AG, Europe's second-largest
chipmaker, advanced.


Read more at Bloomberg Stocks News

U.K. Pound Set for Weekly Drop Versus Euro as House Price Inflation Cools

(Bloomberg) -- The pound headed for a weekly drop
against the euro on indications four interest-rate increases in
the past year are starting to cool Britain's property market.

The U.K. currency also slid to near a week-low versus the
dollar after reports this week showed the number of loans granted
for house purchases fell in April and credit growth slowed. The
pound gained versus the euro in May, snapping a three-month
losing streak, amid data showing the economy maintained momentum
in the first quarter even after three interest-rate increases
since August by the Bank of England.


Read more at Bloomberg Currencies News

European Government Bonds Set for Weekly Drop on Signs Growth Quickening

(Bloomberg) -- European two-year notes are poised to
drop this week before reports that are forecast to show
manufacturing in the 13-nation euro region rose last month and
German retail sales rebounded, underpinning the case for higher
interest rates.

Two-year yields rose to a six-year high yesterday as
investors added to bets the European Central Bank will lift
interest rates further from 3.75 percent. A report yesterday
showed confidence in the $10.4 trillion euro region economy
climbed to the highest in almost six years.


Read more at Bloomberg Bonds News

UPDATE 1-Quebec avoids snap election as budget pact reached

(Reuters) - The Parti Quebecois said only three of its 36 members of
the Canadian province's Legislature would attend the midday
Friday vote on the budget to cast their ballots against it,
according to Radio-Canada, the French-language television
service of the Canadian Broadcasting Corp.




That would give the pro-Canadian unity Liberals, who have
48 members in the assembly, enough votes to carry the day on
the budget and avoid having to face a July 9 election in the
mainly French-speaking Canadian province of 7.5 million.


Read more at Reuters.com Bonds News

Chinese Investors Flock to Open Stock Accounts Even as Trading Tax Triples

(Bloomberg) -- Chinese investors opened more than
420,000 new brokerage accounts on May 30, well above the daily
average for the year, even as the government tripled the tax on
securities transactions.

A total of 426,162 accounts were set up that day, according
to the latest figures from China Securities Depository & Clearing
Corp. That's the third day in a row new accounts have exceeded
400,000. The daily average for the year is 300,000.


Read more at Bloomberg Emerging Markets News

Malaysia's Ringgit Rises as Report Next Week May Show Rebound in Exports

(Bloomberg) -- Malaysia's ringgit rose before a
government report next week that's forecast to show exports
rebounded in April, ending a two-month slump.

The currency has extended a three-month rally to near the
highest since February 1998 after Bank Negara Malaysia on May 30
said the economy grew faster than expected in the first quarter.
On that day Governor Zeti Akhtar Aziz also said the ringgit's
strength has had ``no adverse impact'' on local manufacturers.


Read more at Bloomberg Currencies News

Dollar off 3-month high vs yen ahead of U.S. jobs data

(Reuters) - Traders said the dollar has a chance to extend its gains above 122 yen if the jobs data is healthy, but some analysts pointed out that the market may have already priced in a strong figure and dollar-buying may not last long.




"I think the jobs data itself is unlikely to provide a positive surprise to the market," said Osamu Takashima, chief analyst at the Bank of Tokyo-Mitsubishi UFJ.


Read more at Reuters.com Hot Stocks News

TEXT-Australia's QBE completes U.S. acquisitions

(Reuters) - The total purchase price for the two acquisitions was A$2.5
billion and net tangible assets at completion are estimated at
A$1.5 billion. In addition, QBE will repay a US$557 million
loan from the Winterthur US parent.




QBE confirms its previously announced gross written premium
income target of around US$2.8 billion in the first full year
from these acquisitions. Net earned premium from the
acquisitions in a full year is expected to be approximately
US$2.6 billion, which includes the additional retained premium
following the cancellation of the Praetorian 50% quota share
reinsurance with Hannover Re.


Read more at Reuters.com Mergers News

Nikkei seen heading for 18,000 mark

(Reuters) - "Investors will begin to focus on this year's high set in February," Kodama said.




"Shares of technology companies will likely see buying," he said.


Read more at Reuters.com Hot Stocks News

Japanese Stocks May Advance; Advantest, Technology Shares May Lead Gains

(Bloomberg) -- Japanese shares may gain, paced by
technology companies such as Advantest Corp. after Dell Inc.
reported first-quarter earnings that beat analysts' estimates,
helping the Nasdaq Composite Index in the U.S. post its biggest
four-day gain since March.

Gains may be limited should investors refrain from betting
heavily on stocks before the release of a U.S. jobs reports later
today and after the revised U.S. gross domestic product reading
for the last quarter was weaker than economists' forecast.


Read more at Bloomberg Stocks News

Community Trust to acquire Eagle Fidelity for about $37 mln

(Reuters) - The transaction, likely to close in the fourth quarter, is
expected to add to the company's 2008 earnings.





Read more at Reuters.com Mergers News

Fannie Mae shareholders stumble in case vs. company

(Reuters) - That failed tactic, known as a derivative suit, does not
interrupt a larger shareholder case against the company
stemming from a $6 billion accounting scandal.




Read more at Reuters.com Bonds News

Brinker franchisee buying 76 Chili's restaurants

(Reuters) - The deal is slated to close by the end of calendar 2007 and would make Louisville, Kentucky-based ERJ, which currently operates 25 Chili's restaurants and has four additional restaurants in development, one of the largest Chili's franchisees in the country.



) Keywords: BRINKER CHILIS/


Read more at Reuters.com Mergers News

Esprit, Daewoo Shipbuilding, TCL Multimedia: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news
that broke after markets closed. Prices are from the local
market's last close. Stock symbols are in parentheses after
company names.

Indonesia's stock market is shut for a holiday.


Read more at Bloomberg Stocks News

U.S. allows Monsanto-Delta deal with conditions

(Reuters) - The decision comes after months of complaints from competitors, farm groups and consumer representatives that Monsanto's purchase of Delta and Pine, which operates the world's largest commercial cottonseed breeding program, would hobble competition, lead to higher prices and reduce seed options.




The Justice Department said the conditions it was placing on the deal should mitigate those fears and "preserve competition in this important industry."


Read more at Reuters.com Business News

Emerging debt-Spreads narrow as investors seek higher returns

(Reuters) - Overall risk spreads between emerging markets bonds and
U.S. Treasury notes, a key gauge of risk aversion, narrowed 2
basis points to 153 bps according to JP Morgan's EMBI+ index
, only 4 points away from an all-time low reached on May
23.




The spread tightening was led by Ecuador ,
Argentina , Venezuela and Colombia ,
which also suffered large losses in recent days.


Read more at Reuters.com Bonds News

Big Lots, Ciena, Dendreon, VeraSun, WellPoint: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. New York time.

A.G. Edwards Inc. (AGE US) jumped $11.01, or 14 percent, to
$88.16. Wachovia Corp. (WB US), the fourth-largest U.S. bank,
agreed to buy the biggest full-service brokerage based outside
New York for about $6.8 billion in cash and stock. The $89.50-a-
share price tag is about 16 percent more than A.G. Edwards's
last close. Wachovia fell 36 cents to $54.19.


Read more at Bloomberg Stocks News

Conrad Black's secretary comes to his defense

(Reuters) - Joan Maida, Black's secretary since 1994, was among the
first witnesses called by defense lawyers as they started their
case in Black's criminal fraud trial following 11 weeks of
prosecution-led testimony.




She described an incident in Toronto on May 20, 2005, in
which Black and his chauffeur loaded 13 boxes into Black's car.
It was the day after the U.S. Securities and Exchange
Commission had told Black's lawyers he would have to surrender
some of his records, prosecutors contend.


Read more at Reuters.com Bonds News

US STOCKS-Indexes inch up on M&A, ending a strong May

(Reuters) - NEW YORK, May 31 - U.S. stocks inched higher on
Thursday, boosted by a proposed $6.8 billion takeover in the
financial sector and optimism over data pointing to strength in
the industrial sector.




The gains put Wall Street on course for its biggest May
advance in four years, a day after the S&P 500 notched its
first record finish in seven years.


Read more at Reuters.com Bonds News

RPT-DEALTALK-Equity analysts facing new quant challenge

(Reuters) - NEW YORK, May 31 - Wall Street equity analysts
have had their share of problems in recent years, from
regulatory heat to budget cuts to a loss of star power and
prestige.




Now, with the growth of quantitative analysis, some are
facing a worse possible fate: being supplanted by computers.


Read more at Reuters.com Mergers News

Sears Holdings net up 20 pct on special gains

(Reuters) - Earnings for Sears, controlled by hedge fund manager Edward Lampert, came in roughly in the middle of a targeted range the company gave in early May, disappointing some investors and sending the company's shares down more than 2 percent.




First-quarter net income rose to $216 million, or $1.40 a share, from $180 million, or $1.14 a share, a year earlier. On May 3, Sears said it expected net income of $1.30 to $1.53 a share.


Read more at Reuters.com Market News

U.S. Stocks Rise on Takeovers, Earnings; A.G. Edwards, Ceridian Advance

(Bloomberg) -- Takeovers and earnings that topped
analysts' estimates sent U.S. stocks to a fourth straight day of
gains, extending the market's record-breaking rally.

A.G. Edwards Inc. rose to an all-time high after Wachovia
Corp. said it will buy the company for about $6.8 billion in the
biggest acquisition of a U.S. brokerage firm in almost seven
years. Ceridian Corp. climbed to a record after the provider of
payroll and human resources services agreed to be purchased for
$5.3 billion.


Read more at Bloomberg Stocks News

Colombia's Peso Breaks 1,900-Per-Dollar-Barrier on Bank's Inflation Plan

(Bloomberg) -- Colombia's peso broke the 1,900-per-
dollar barrier for the first time in more than seven years, on
speculation the central bank will allow the currency to
appreciate while focusing on inflation.

The peso jumped 1.5 percent to 1,896.97 per dollar at 1:03
p.m. in New York. It earlier touched 1,894.1, the strongest
since January 2000. The currency has gained almost 18 percent
this year, the most among 70 currencies tracked by Bloomberg.


Read more at Bloomberg Currencies News

U.S. to release report on 2006 foreign investment

(Reuters) - The government's quarterly Current Account Deficit report
provides some information about foreign investment, but this
annual report will provide more details about the types of
investments, the businesses and industries.




The report will identify the countries of the investors and
the industries of the companies those investors either acquired
or established. In addition, operating data of the businesses
acquired or established will include assets, sales and
employment information, the department said.


Read more at Reuters.com Bonds News

Crude Oil Futures Decline After U.S. Reports Gain in Gasoline Inventories

(Bloomberg) -- Crude oil fell on a government
report that showed U.S. gasoline supplies increased for a
fourth straight week as imports surged during the run-up to the
summer driving season.

Gasoline stockpiles rose 1.36 million barrels to 198 million
barrels in the week ended May 25, the Energy Department reported
today. A gain of 1.5 million barrels was expected, according to
the median of responses by 15 analysts. The U.S. imported an
average 1.61 million barrels of gasoline a day last week, the
highest since the week ended May 19, 2006, the report showed.


Read more at Bloomberg Energy News

RPT-US bank earnings about steady in 1st quarter-FDIC

(Reuters) - Commercial lenders overseen by the Federal Deposit
Insurance Corporation saw net income of $36 billion in the
first quarter of the year, the regulator said.




That was off $900 million compared with the same quarter a
year ago and was the fourth-highest income reported by the
industry, the FDIC said.


Read more at Reuters.com Bonds News

UPDATE 1-US approves Monsanto-Delta deal with conditions

(Reuters) - The Justice Department said it would not oppose the deal
after the companies agreed to divest a seed company, sell a
number of cottonseed lines and make changes to some licensing
agreements.




The merged companies will have to divest the Stoneville
Pedigreed Seed Co. and 20 proprietary Delta and Pine cottonseed
lines to alleviate competition concerns, the department said.


Read more at Reuters.com Government Filings News

FTSE 100 Stocks Advance, Led by Johnson Matthey, HBOS, BHP Billiton Shares

(Bloomberg) -- U.K. stocks advanced, led by Johnson
Matthey Plc and HBOS Plc as brokers recommended the shares.

BHP Billiton Ltd. paced the gain after the world's largest
mining company promoted Marius Kloppers to chief executive
officer, succeeding Charles ``Chip'' Goodyear.


Read more at Bloomberg Stocks News

UPDATE 1-Avanir gets FDA nod for new formulation; shares rise

(Reuters) - The new formulation provides bottle packaging and a new
12.5 mg dosage strength, in addition to 25 mg and 100 mg dosage
strengths, the company said in a statement.




FazaClo, which contributed $6.3 million to Avanir's sales
in the first quarter of 2007, is an orally disintegrating
formulation of clozapine for schizophrenic patients who fail to
respond adequately to standard drug treatments.


Read more at Reuters.com Government Filings News

Malaysia's PM says Proton-VW talks off - report

(Reuters) - Loss-making Proton, which faces a shrinking market share in
the increasingly competitive domestic market, is looking to tie
up with a global car maker to boost its sales and turn the
company around.




"I have decided, since Volkswagen is not interested in the
proposal that Proton wants in terms of equity, Proton needs to
talk to other people," Abdullah was quoted as saying by
state-run Bernama news agency.


Read more at Reuters.com Mergers News

CORRECTED - Bush picks McCormick for US Treasury int'l affairs

(Reuters) - McCormick is currently deputy national security adviser for
international economic affairs at the White House. He previously
served as an undersecretary at the Commerce Department.




Read more at Reuters.com Bonds News

US govt picks 5 winners for big telecoms contract

(Reuters) - The General Services Administration picked AT&T, Verizon
Communications and Qwest for the first contract worth up to $48
billion.




Read more at Reuters.com Bonds News

Heinz posts higher profit, raises forecast

(Reuters) - The results matched the analysts' average forecast compiled by Reuters Estimates.




Net quarterly sales rose 0.6 percent to $2.4 billion. However, sales rose 4.4 percent for the company's top 15 brands, which account for 70 percent of total revenue and also include Boston Market frozen entrees and Classico pasta sauces.


Read more at Reuters.com Hot Stocks News

GLOBAL MARKETS-Dlr dips on weak U.S. GDP revision; stocks firm

(Reuters) - U.S. first-quarter GDP growth was revised to 0.6 percent --
less than half the initial estimate of 1.3 percent last month
and the weakest growth in four years.




However, markets had expected a sharply lower revised
reading and took the data in their stride.


Read more at Reuters.com Economic News

Dendreon, Mohawk Industries, Jo-Ann Stores, JA Solar: U.S. Equity Movers

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

A.G. Edwards Inc. (AGE US) jumped $10.58, or 14 percent, to
$87.73 and traded as high as $90.44. Wachovia Corp. (WB US), the
fourth-largest U.S. bank, agreed to buy the biggest full-service
brokerage based outside New York for about $6.8 billion in cash
and stock. The $89.50-a-share price tag is about 16 percent more
than A.G. Edwards's last close.


Read more at Bloomberg Stocks News

Romanian Central Bank Governor Isarescu Defends Interest-Rate Reductions

(Bloomberg) -- Romanian Central Bank Governor Mugur
Isarescu said he's ``not comfortable'' with the strengthening of
the local currency as it encourages Romanians to borrow in euros
and expose themselves to risks of currency swings.

``I'm not only concerned about competitiveness of
exports,'' Isarescu said in an interview today on the sidelines
of a conference in Athens, Greece. ``The exchange rate
encourages banks and clients to lend and borrow in foreign
currency. The population earns in local currency and borrows in
forex. These loans for unhedged borrowers in my view are a
risk.''


Read more at Bloomberg Emerging Markets News

Platinum Gains on Speculation South African Wage Talks May Reduce Supply

(Bloomberg) -- Platinum climbed for a second day in
London on speculation that strikes will disrupt supplies from
South Africa, the world's biggest producer. Palladium rose.

Johannesburg-based Anglo Platinum Ltd., the world's largest
producer, is offering a pay rise of 6 percent to its workers,
compared with a demand of 15 percent, the Solidarity labor union
said yesterday. South Africa's platinum companies this month
started biennial wage talks for agreements expiring in June.


Read more at Bloomberg Commodities News

CoolBrands eliminates dual class share structure

(Reuters) - The frozen desserts maker said 6 million multiple voting shares and 50 million subordinate voting shares have been changed into 56 million common shares, each carrying one vote.






Read more at Reuters.com Government Filings News

Indian Government Bonds May Fall on Speculation Central Bank to Drain Cash

(Bloomberg) -- India's government bonds may drop on
concern the central bank will remove spare cash from the banking
system to curb inflation, leaving investors with less money to
buy debt.

The Reserve Bank of India may sell bonds or ask banks to
increase their cash reserves in coming weeks to absorb excess
funds that may stoke price gains, said Rajesh Babu, a fixed-
income trader at state-owned Andhra Bank Ltd. in Mumbai. The
central bank sells securities under a so-called market
stabilization plan to absorb excess money from the financial
system.


Read more at Bloomberg Bonds News

Chicago Board of Trade to Start Trading Credit Derivatives on June 25

(Bloomberg) -- The Chicago Board of Trade said today
it will start trading a futures contract next month modeled
after credit-default swaps, the fastest growing derivatives
market.

It became the third U.S. exchange to announce plans to
enter Wall Street's hottest financial market. The exchange said
it will offer a contract linked to the creditworthiness of 50
companies starting June 25.


Read more at Bloomberg Bonds News

UK's QinetiQ posts 17-pct rise in annual profits

(Reuters) - LONDON, May 31 - British technology development company QinetiQ rose to 106 million pounds from 90.7 million a year earlier, QinetiQ said in a statement to the London Stock Exchange.



Revenue for the year to March 31, 2007, rose by 9.3 percent to 1.1495 billion pounds.


Read more at Reuters.com Market News

Big Lots profit more than doubles

(Reuters) - The Columbus, Ohio-based company said comparable store sales increased 4.9 percent for the quarter.




Net sales rose 3.4 percent to $1.13 billion from the first quarter of last year.


Read more at Reuters.com Hot Stocks News

Japan's Hoya to buy Pentax for $860 mln

(Reuters) - Hoya will offer 770 yen for each Pentax share, in line with its earlier proposals. Ahead of the announcement, Pentax shares closed up 0.52 percent at 776 yen.




"There seems to be some expectations in the market that the TOB might not go through under the current conditions and Hoya could be forced to raise its bid price," said Ken Masuda, a senior dealer in equities at Shinko Securities.


Read more at Reuters.com Mergers News

Tiffany quarterly profit rises on strong sales

(Reuters) - Earnings were a penny above the analysts' average forecast of 35 cents a share, according to Reuters Estimates.




Sales rose 15 percent to $620.9 million, helped by growth in most markets except for Japan.


Read more at Reuters.com Business News

Stock futures edge up on deal news; GDP ahead

(Reuters) - A revised government estimate of change in first-quarter U.S. gross domestic product is due at 8:30 a.m. . After the initial 1.3 percent estimated rise, economists on average expect the annual growth rate to be even lower at 0.8 percent.




U.S. bank Wachovia and A.G. Edwards said they would merge to create a retail brokerage firm with $1.1 trillion in assets. The deal calls for the exchange of 0.9844 shares of Wachovia common stock and $35.80 in cash for each A.G. Edwards share.


Read more at Reuters.com Bonds News

Asian Stocks Rise to Record on Federal Reserve's U.S. Outlook; China Gains

(Bloomberg) --Asian stocks rallied to a record after
the U.S. Federal Reserve predicted growth will pick up in the
world's biggest economy.

Sony Corp. and Samsung Electronics Co. paced gains among
exporters. China's CSI 300 Index rebounded after a slide
yesterday that wiped out $161 billion of market value.


Read more at Bloomberg Stocks News

U.S. Stock-Index Futures Advance; Motorola, Yahoo Shares Climb in Europe

(Bloomberg) -- U.S. stock-index futures increased on
speculation the economy is rebounding after bottoming out in the
first quarter.

Shares of Yahoo! Inc., owner of the second-most-popular
Internet search engine, climbed in Europe after a stock upgrade
by JPMorgan Chase & Co. Ceridian Corp. gained as the provider of
human resource and payroll services agreed to be acquired for
$5.3 billion. Shares of Wachovia Corp., the fourth-biggest U.S.
bank, may move after the company agreed to buy A.G. Edwards Inc.


Read more at Bloomberg Stocks News

Vodafone plans 2-part euro bond issue -lead

(Reuters) - Pricing is expected later on Thursday, the official said.




BNP Paribas, JP Morgan and Royal Bank of Scotland are
managing the sale.


Read more at Reuters.com Bonds News

Kenya's annual inflation rises to 6.3 pct in May

(Reuters) - Kenya's overall annual inflation rose to 6.3 percent in May from 5.7 percent in April due to rising fuel prices, the Kenya National Bureau of Statistics said on Thursday.

Underlying inflation, which excludes food prices, dipped to 5.7 percent in May from 5.9 percent in April.


Read more at Reuters Africa

S.African Telkom, BCX extend date for takeover conditions

(Reuters) - South African fixed line telephone group Telkom and its takeover target Business Connexion have extended the date for meeting conditions for the acquisition to July 1 from May 31, the companies said on Thursday.

Hearings over Telkom's planned 2.43 billion rand acquisition of the IT outsourcing firm began at the Competition Tribunal on March 12 and are currently in progress.


Read more at Reuters Africa

First-Quarter U.S. Economic Slump Probably Worse Than Initially Estimated

(Bloomberg) -- First-quarter U.S. economic growth,
already reported as the weakest in four years, will be revised
even lower as the trade deficit widened and businesses reined in
inventories, economists said before a government report today.

The world's largest economy grew at an annual rate of 0.8
percent from January through March, down from the 1.3 percent
pace estimated last month, new figures from the Commerce
Department may show. The forecast is based on the median of 78
forecasts in a Bloomberg News survey.


Read more at Bloomberg Currencies News

Costco quarterly profit falls

(Reuters) - Excluding items, Costco earned 56 cents a share, which matched the Wall Street forecast, according to Reuters Estimates.




Costco said its sales rose 10 percent to $14.34 billion, excluding membership fees. Net sales were reduced by $228 million due to an increase in the sales returns reserve balance, Costco said.


Read more at Reuters.com Hot Stocks News

Yen May Rise Against Euro as Wage Growth Boosts Outlook for Higher Rates

(Bloomberg) -- The yen may strengthen versus the
euro on expectations a government report will show Japanese
wages rose for the first time in five months, giving the Bank of
Japan more evidence to raise borrowing costs.

``Any data suggested higher earnings or rising prices will
support the yen as we're getting close the July policy
meeting,'' said Mark Meadows, strategist at currency-trading
company Tempus Consulting Inc. in Washington. ``There's a risk
for a significant reversal of the yen to a stronger level as
people pared down their risk appetite.''


Read more at Bloomberg Currencies News

May auto sales seen down slightly

(Reuters) - "While in previous months, demand had proven more resilient than many forecasted, May is shaping up weaker for automotive sales in the U.S., according to our channel checks," Lehman Brothers analyst Brian Johnson said in a research note.




"Lower consumer confidence, associated in part with the slowdown in the housing market ... seems to be taking now more of a toll on light vehicle sales," Johnson said.


Read more at Reuters.com Business News

A&P says in talks for sale of Sav-A-Center stores

(Reuters) - William Blair & Company LLC has been hired as financial
adviser in connection with this sale, it said.





Read more at Reuters.com Mergers News

UPDATE 1-TiVo posts quarterly profit

(Reuters) - TiVo, whose digital video recording service faces growing
competition from set-top boxes made by cable and satellite TV
providers, reported a fiscal first-quarter profit of $835,000
or 1 cent a share, from a loss of $10.7 million, or 13 cents a
share, one year ago.




Analysts had expected a loss of 2 cents a share, according
to Reuters Estimates.


Read more at Reuters.com Market News

U.S. Stocks Rise as Energy Shares Surge; S&P 500 Index Closes at Record

(Bloomberg) -- U.S. stocks rose for a third day,
pushing the Standard & Poor's 500 Index to a record, after a
jump in oil prices lifted shares of energy producers.

The S&P 500 rose 12.12, or 0.8 percent, to 1530.23, above
its March 2000 record close of 1527.46. The Dow Jones Industrial
Average added 111.74, or 0.8 percent, to 13,633.08, its 25th
record this year. The Nasdaq Composite Index increased 20.53, or
0.8 percent, to 2592.59.


Read more at Bloomberg Stocks News

UPDATE 1-Mexico posts 35.7 bln peso fiscal surplus in April

(Reuters) - Budget income rose 9.4 percent compared with the same month
last year following a 12 percent increase in non-oil income.




Oil income from state monopoly Pemex rose 6 percent
year-on-year while net spending rose 15.1 percent.


Read more at Reuters.com Bonds News

Dollar up vs euro as Fed reiterates inflation risk

(Reuters) - The dollar's gains in May put it on track for its biggest monthly rise against a basket of currencies since at least February 2006, after declining steadily all year, as expectations for a cut in U.S. interest rates dimmed.




The implied chance of the Fed cutting rates by 25 basis points by 2008 is now less than 50 percent, down from earlier in the year when futures traders priced in at least two cuts.


Read more at Reuters.com Hot Stocks News

Exxon Shareholders Reject Global Warming Proposals, Retain Director Boskin

(Bloomberg) -- Exxon Mobil Corp. shareholders
rejected a resolution calling on the company to cut greenhouse
gases and voted to retain director Michael Boskin.

A proposal for Exxon Mobil to develop a plan to reduce
emissions from its refineries and the fuels it makes received 31
percent in balloting at the company's annual meeting in Dallas.
Initiatives to cap pay for top executives, including Chief
Executive Officer Rex Tillerson, at $500,000 a year and increase
investment in ethanol got less than 8 percent of votes.


Read more at Bloomberg Energy News

Commerce Bancorp Option Trading Jumps on Analyst's Outlook for Settlement

(Bloomberg) -- Trading in options to buy shares of
Commerce Bancorp Inc. surged to a record after an analyst said
the largest bank based in New Jersey may announce the settlement
of a regulatory inquiry in the next few days.

Commerce said in January that it was being investigated by
the U.S. Office of the Comptroller of the Currency, which was
looking into transactions between the bank and its officers,
directors and related parties.


Read more at Bloomberg Stocks News

Peruvian Stocks Slide Most in 12 Years on Copper: World's Biggest Mover

(Bloomberg) -- Peru's main stock index fell the most in
more than 12 years, led by miner Sociedad Minera Cerro Verde SA, as
the price of copper dropped on concern over Chinese demand.

The Lima General Index plunged 1587.44, or 7.9 percent, the
most since January 1995, to 18,479.33 at 12:08 p.m. New York time.
It was the biggest move among markets included in global
benchmarks.


Read more at Bloomberg Emerging Markets News

Cocoa Futures Fall for Fourth Day on Ivory Coast Rains, Ghana Supplies

(Bloomberg) -- Cocoa fell in New York for a fourth
day as rains in Ivory Coast, the world's biggest producer,
improved the crop outlook and farmers in Ghana began selling
beans from a harvest that began this month.

Rain may fall over the next five days, after soaking Ivory
Coast during the weekend, Meteorlogix LLC in Woburn,
Massachusetts said. That may help the so-called main crop, the
larger of two annual harvests that starts in October in West
Africa. The smaller mid-crop harvest has begun in both Ivory
Coast and Ghana.


Read more at Bloomberg Commodities News

U.S. Stocks Pare Losses; S&P 500 Advances, Led by Energy Producer Shares

(Bloomberg) -- U.S. stocks pared losses and the
Standard & Poor's 500 Index rose, led by shares of energy
producers.

The S&P 500 gained 0.05 to 1518.16 as of 11:39 a.m. in New
York. The Dow Jones Industrial Average lost 1.71 to 13,519.63
after earlier declining as much as 65 points. The Nasdaq
Composite Index retreated 3.47, or 0.1 percent, to 2568.59.


Read more at Bloomberg Stocks News

UPDATE 1-NiSource ends talks on Indiana assets sale

(Reuters) - The assets include its Northern Indiana Public Service Co.
electricity distribution, transmission and generation
operations, which serve about 450,000 customers and posted 2006
revenues of $1.3 billion.




"Although it was clear from very advanced stages of
discussions that the overall financial value to NiSource from a
potential transaction could fall within an acceptable range,
NiSource concluded that no transaction adequately met all the
requirements to proceed," the company said in a statement.


Read more at Reuters.com Mergers News

AstraZeneca's MedImmune buy gets U.S. antitrust nod

(Reuters) - Last month, AstraZeneca agreed to buy MedImmune in its biggest transaction since the creation of the Anglo-Swedish drugs group in 1999. The all-cash deal aims to boost AstraZeneca's depleted drug portfolio by moving deeper into biotech medicine and taking a first step into vaccines.




MedImmune is one of the largest independent U.S. biotech companies and is best known for the nasal spray flu vaccine FluMist. The Maryland-based company also has two other marketed products, Synagis for infectious respiratory disease and Ethyol for reducing chemotherapy side effects.


Read more at Reuters.com Government Filings News

UPDATE 1-Indian leftists harden opposition to Wal-Mart

(Reuters) - NEW DELHI, May 30 - India's main communist party,
which props up the ruling coalition, urged the government on
Wednesday to establish a licensing system for retail chains and
prevent the entry of foreign players like Wal-Mart.




The Communist Party of India said that in
a country where there were millions of small grocery store
owners and street vendors, "the potential social costs of
growth and consolidation of organised retail ... is enormous".


Read more at Reuters.com Economic News

Oil below $68, slides for fourth day

(Reuters) - A fresh attack on a Nigerian pipeline provided some support and illustrated the uphill task the new president faces to restore lost output in the world's eighth biggest oil exporter.




Analysts played down the impact of a 6.5 percent drop in Chinese stocks that sent ripples through other Asian and European markets.


Read more at Reuters.com Hot Stocks News

GLOBAL MARKETS-China stocks fall, but ripple limited

(Reuters) - Currencies were relatively steady and demand for euro zone
government bonds rose slightly.




China's Ministry of Finance raised stamp duty on share
transactions to 0.3 from 0.1 percent in what was seen as the
strongest attempt yet to curb speculation in a market that had
risen more than 60 percent so far this year.


Read more at Reuters.com Bonds News

Zoellick must restore confidence in W.Bank: France

(Reuters) - "I hope Mr Zoellick will re-establish, or establish, our confidence in the World Bank. It is absolutely crucial."




Asked if Zoellick was the right man to replace Wolfowitz, who was forced to resign over his authorization of a pay rise for his bank-employee companion, Kouchner replied: "Certainly".


Read more at Reuters.com Bonds News

India's Stock Market Follows China, Russia to Surpass $1 Trillion Value

(Bloomberg) -- India became the third emerging stock
market after China and Russia to surpass $1 trillion in value,
helped by the fastest economic growth in 60 years, a strengthening
currency and overseas investment.

The Bombay Stock Exchange's 30-member key Sensitive Index, or
Sensex, slid 0.7 percent to 14,411.38 at the close today, 1.6
percent below the Feb. 8 record. India's rupee, Asia's best
performer this year against the dollar, yesterday advanced to a
nine-year high, helping push the market's value to $1 trillion.


Read more at Bloomberg Stocks News

Petroleo Brasileiro, Telemar, Vale do Rio Doce: Brazilian Equity Movers

(Bloomberg) -- Brazil's main stock index fell for a
second day, led by Petroleo Brasileiro SA, the state-controlled oil
company.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 791.69, or 1.5 percent, to 50,921.49 as of 9:40 a.m.
New York time. Emerging market shares fell around the world after
China tripled the tax on security transactions, sending the Chinese
benchmark down 6.8 percent, the most in three months and raising
concern that slower growth in the country will sap demand for
commodities.


Read more at Bloomberg Stocks News

Gold rises ahead of Fed minutes, Tokyo rebounds

(Reuters) - Gold rose on bargain hunting on Wednesday, but investors may be careful about chasing the metal too strongly ahead of the release of U.S. economic data which may determine its direction.

Tokyo futures ended higher to track gains in New York's COMEX but many private investors were still reluctant to enter the volatile market. Purchases by Japanese investors helped propel cash gold to multi-year highs in 2006.


Read more at Reuters Africa

Nigeria pipeline attack cuts Shell oil output

(Reuters) - Villagers sabotaged a major export pipeline in Nigeria for the second time this month and halted 150,000 barrels per day (bpd) of oil production, Royal Dutch Shell said on Wednesday.

Community members stormed the Bomu pipeline complex, which is a major artery feeding the Bonny crude export terminal, prompting the partial shutdown of the Trans-Niger pipeline on Tuesday, a company spokesman said.


Read more at Reuters Africa

Rand weakens further vs dollar as euro falls

(Reuters) - South Africa's rand registered further losses against the dollar on Wednesday as the greenback firmed to a seven-week high on receding expectations of U.S. interest rate hikes.

At 1305 GMT the rand was trading just over one percent weaker at 7.2140 against the dollar compared to Tuesday's New York close of 7.14, after earlier touching 7.2230/dollar.


Read more at Reuters Africa

Joy Global Q2 net falls on interest expense, amortization charge

(Reuters) - Net sales rose to $629.2 million from $560.3 million.





Read more at Reuters.com Market News

Pound Declines on Speculation Economy Starting to Slow on Rate Increases

(Bloomberg) -- The pound fell on speculation the U.K.
economy is starting to cool as four interest-rate increases since
August bite.

The U.K. currency slid yesterday after a report showed the
number of loans granted for house purchases barely rose in April,
adding to signs higher interest rates are damping demand for
mortgages. The pound posted its first weekly gain in five versus
the dollar last week after minutes of the central bank's May
meeting showed policy makers voted unanimously to raise the
benchmark rate and suggested there were more increases to come.


Read more at Bloomberg Currencies News

Suez sticks to original Gaz de France merger plan

(Reuters) - Gaz de France shares opened higher, the only CAC-40 stock to
do so, and at 0715 GMT they were up 0.88 percent at 36.52 euros.




Read more at Reuters.com Mergers News

Hain to acquire tofu business of Dean Foods unit

(Reuters) - Hain, in a statement, said it expects the deal to add to
fiscal 2008 earnings.





Read more at Reuters.com Mergers News

Japan Airlines Credit-Default Swaps Are Too Risky, Nikko Citigroup Says

(Bloomberg) -- Investors should steer clear of
credit-default swaps tied to Japan Airlines Corp. because the
contracts are too risky given the carrier's options for raising
money, according to Nikko Citigroup Ltd.

The company, Asia's most-indebted airline, might ask its
main banks to convert loans into equity or forgive debt, which
would probably trigger payments by sellers of the contracts,
said Takayuki Atake, chief credit analyst at Nikko Citigroup in
Tokyo. The possibility the carrier can raise money without
causing a breach of its debt obligations means investors should
also avoid buying the swaps, he said.


Read more at Bloomberg Bonds News

Treasuries Gain After Private-Sector Job Growth Accelerates in the U.S.

(Bloomberg) -- Treasuries gained after a report
showed private-sector job growth accelerated this month.

The data comes two days before the Labor Department's
employment report for May, which also covers the public sector
and is forecast to show job creation accelerated.


Read more at Bloomberg Bonds News

ISS opposes Biomet buyout: WSJ

(Reuters) - "Although the deal terms appear fair as of the time of the deal's announcement in December, the rally of the peer group" and its main joint reconstruction business "imply that there is little takeover premium in the current $44 offer price," the Journal quoted the ISS report as saying.




The recommendation comes ahead of a June 8 shareholder vote on the deal, the paper said.


Read more at Reuters.com Business News

Vodafone robust div clouded by weaker EBITDA growth

(Reuters) - Vodafone, the world's largest mobile phone company outside
China, said earnings before interest, tax, depreciation and
amortisation rose to 11.960 billion pounds on revenues of 31.1 billion pounds, missing average
forecasts of 12.130 billion and 31.385 billion respectively.




However, adjusted earnings per share jumped 11.4 percent to
11.26 pence and Vodafone raised its total dividends by 11.4
percent to 11.26 pence, topping average analyst forecasts
according to Reuters Estimates.


Read more at Reuters.com Market News

Norsk Hydro declines comment on Alcan bid report

(Reuters) - Canadian daily Globe and Mail reported that Norsk Hydro was
working on a bid for Alcan worth more than $30 billion.




Read more at Reuters.com Mergers News

Philippine Government Borrowing Costs Rise at Five-Year Treasury Bond Sale

(Bloomberg) -- Philippine government borrowing costs
rose at its auction of five-year bonds.

The government sold the 5.75 percent bonds due February 2012
at an average yield of 5.967 percent. That compares with 5.679
percent at the most recent auction in February.


Read more at Bloomberg Bonds News

Pound May Advance Versus Dollar as Bank of England Vows to Fight Inflation

(Bloomberg) -- The pound may advance against the
dollar on speculation the Bank of England will keep raising
interest rates to counter inflation in Europe's second-biggest
economy.

The U.K. currency traded near a two-week high versus the
dollar last week after the minutes of the central bank's May
rate-setting meeting showed policy makers voted unanimously to
raise the benchmark rate to curb inflation and rate setters
hinted at further increase in borrowing costs.


Read more at Bloomberg Currencies News

Cos. look outside developing countries: World Bank

(Reuters) - With growth in developing countries like China and India outpacing that of wealthy nations, the new phenomenon of corporate globalization is likely to intensify in the next few years, the bank's annual Global Development Finance report said.




"This is shifting the whole landscape of emerging market finance from a sovereign-based framework to corporate based," the report's main author, Mansoor Dailami, told Reuters.


Read more at Reuters.com Business News

Asian Currencies: Taiwan Dollar Climbs to Two-Month High; Won Unchanged

(Bloomberg) -- Taiwan's dollar climbed to a two-
month high on speculation the central bank will buy the currency
to curb declines after it fell to a 17-month low last week.

The currency has dropped 1.4 percent this year as interest
rates among the lowest in Asia led investors to take funds out
of the island to buy higher-yielding assets abroad. Central bank
buying has helped the Taiwan dollar rise 1 percent since May 22,
when the currency touched its lowest since December 2005.


Read more at Bloomberg Currencies News

SK Corp. Shareholders Approve Plan to Split Into Holding, Operating Units

(Bloomberg) -- Shareholders of SK Corp., Asia's
fourth-largest oil refiner, approved the company's plans to split
into holding and operating companies.

Shareholders representing some 80 percent of outstanding
stock voted at a meeting in Seoul today and all of them approved
the new company structure, SK Corp. said in a statement. The
reorganized companies will be called SK Holdings Co. and SK
Energy Co.


Read more at Bloomberg Emerging Markets News

Philippine Peso Rises as Overseas Investors Buy Stocks on Growth Optimism

(Bloomberg) -- The Philippine peso rose as optimism
the economy will sustain its expansion prompted overseas
investors to buy local stocks.

The currency reached a more than six-year high last week as
the benchmark stock index climbed to a record. A report on May
31 will show the economy expanded 5.7 percent in January to
March, the fastest pace in three quarters, according to the
median estimate of 14 economists in a Bloomberg News survey.


Read more at Bloomberg Currencies News

Yen Strengthens Against Euro After Japanese Government Bond Yields Rise

(Bloomberg) -- The yen strengthened against the euro
after better-than-expected Japanese unemployment and household
spending data pushed yields on five-year government debt to the
highest since August.

The yen rose to 163.12 against the euro at 11:01 a.m. in
Tokyo from 163.73 late yesterday in New York. Against the dollar,
it climbed to 121.48 from 121.71.


Read more at Bloomberg Currencies News

New Zealand Dollar May Rise on Prospect of Interest-Rate Boost Next Week

(Bloomberg) -- New Zealand's dollar may gain for a
third day on growing speculation Reserve Bank Governor Alan
Bollard will increase interest rates as soon as next week.

The chance of a quarter-point rise in the benchmark rate at
a June 7 review rose to 31 percent from 18 percent last week,
according to an index calculated by Credit Suisse. Yesterday,
economists at Westpac Banking Corp. said they expect a rate
increase because of inflation pressures.


Read more at Bloomberg Currencies News

Japan's Five-Year Notes Decline; Yields Increase to Highest Since October

(Bloomberg) -- Japan's five-year notes dropped,
pushing yields to the highest since October, after government
reports on jobs and consumer demand bolstered the central bank's
case for raising interest rates.

The notes fell for a fifth day after Japan's jobless rate
unexpectedly fell to a nine-year low and households increased
spending for a fourth month in April. Two-year note yields were at
the highest since 1997, signaling the government may raise a
coupon on the securities it will sell today at an auction.


Read more at Bloomberg Bonds News

Symbion says to allow 3 weeks for better offer

(Reuters) - Symbion Chief Executive Robert Cooke said Sigma had made some approaches in recent days.




"We've allowed three weeks for a superior proposal to emerge so we're very conscious of transparency to make sure that we maximize shareholder value for pharmacy and consumer," Cooke told reporters.


Read more at Reuters.com Business News

Japan's Industrial Production Probably Rebounded in April on Export Demand

(Bloomberg) -- Japan's industrial production
probably rebounded in April, as manufacturers stepped up output
to meet rising demand from Asia and Europe.

Production rose a seasonally adjusted 0.5 percent after
dropping 0.3 percent a month earlier, according to the median
estimate of 45 economists surveyed by Bloomberg News. The Trade
Ministry will release the report tomorrow at 8:50 a.m. in Tokyo.


Read more at Bloomberg Bonds News

Sanyo Electric, FamilyMart, NTT DoCoMo, Sumco: Japanese Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets tomorrow. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Acrodea Inc. (3823 JT) and Softbank Technology Corp. (4726
JT): Softbank Technology, a provider of electronic commerce
services, will buy a 1.5 percent stake in Acrodea, a software
developer, to help provide mobile phone services for corporations.
Acrodea climbed 29,000 yen, or 9.7 percent, to 328,000, while
Softbank Technology gained 43 yen, or 4 percent, to 1,113.


Read more at Bloomberg Stocks News

UPDATE 1-URS to acquire Washington Group for $2.3 billion

(Reuters) - Under terms of the deal, Washington Group shareholders will
get $43.80 in cash and 0.772 shares of URS common stock for
each Washington Group share they own. That values Washington
Group at about $80 per share. Based on Washington Group's 29.2
million shares outstanding, the deal is worth about $2.3
billion in cash and stock.




The price marks a 14-percent premium over Washington
Group's closing stock price of $69.97 on Friday. The U.S.
financial markets were closed on Monday for Memorial Day.


Read more at Reuters.com Mergers News

Brazil Stocks Rise For Second Day on Metals Demand, Led By Vale, Gerdau

(Bloomberg) -- Brazil's main stock index gained for a
second day, led by mining and steel companies, on speculation
metal prices will remain strong as Chinese growth pushes up
demand.

Cia. Vale do Rio Doce, the world's biggest producer of
nickel and iron ore, and Gerdau SA, Latin America's biggest
steelmaker, advanced.


Read more at Bloomberg Stocks News

UPDATE 1-Canada Liberals urge pause in takeovers

(Reuters) - OTTAWA, May 28 - Canada's main opposition party
stepped up pressure on the minority government on Monday to
delay approval for any foreign corporate takeovers for three
months while considering changes to foreign investment rules.




The Conservative government should appoint a panel of
experts to review the Investment Canada Act and to recommend
changes within three months, Liberal leader Stephane Dion said
in a statement.


Read more at Reuters.com Mergers News

Metal Stocks Rise in Global Markets; Alcan, BHP, Arcelor Pace the Advance

(Bloomberg) -- Metal and mining stocks rallied
worldwide on speculation that growing demand for commodities from
China and higher prices may fuel more takeovers in the metals
industry.

Alcan Inc. climbed on a Globe and Mail report that Norsk
Hydro ASA is preparing a bid worth more than $30 billion for the
world's second-biggest aluminum company after Alcoa Inc. BHP
Billiton Ltd., the largest mining company, and Arcelor Mittal,
the biggest steelmaker, also advanced.


Read more at Bloomberg Stocks News

OMX Shares Advance on Report Dubai May Surpass $3.7 Billion Nasdaq Bid

(Bloomberg) -- Shares of Sweden's OMX AB, Europe's
fifth-biggest stock exchange, rose as much as 7.8 percent after
London's Sunday Times said Dubai may bid for the company, rivaling
an agreed $3.67 billion offer from Nasdaq Stock Market Inc.

OMX shares climbed 11.5 kronor to 211 kronor at 3:35 p.m. in
Stockholm, higher than Nasdaq's May 25 bid of 208.1 knonor a share.
OMX has a market value of 25.5 billion kronor ($3.73 billion).


Read more at Bloomberg Emerging Markets News

Oil Declines After Nigeria Meets Union Demands for Pay Raises, Strike Ends

(Bloomberg) -- Crude oil fell as much as 1.3 percent
in New York after oil workers in Nigeria, the biggest producer in
Africa, ended a two-day strike.

The government met union demands for higher pay, Lumumba
Okugbawa, deputy general secretary of the Petroleum & Natural Gas
Senior Staff Association of Nigeria, said in Lagos today. The
West African nation is losing more than 600,000 barrels of output
a day because of violence, kidnappings and damage to facilities.


Read more at Bloomberg Commodities News

OMX up on report of counterbid, analysts unsure

(Reuters) - But Britain's Sunday Times, without naming sources, said the government-owned Dubai International Financial Centre , had appointed HSBC to advise on a potential counterbid.




However, DIFC Governor Omar bid Suleiman had told Reuters last Thursday it was not eyeing a bid for OMX.


Read more at Reuters.com Hot Stocks News

Dollar sits near peaks, buoyed by rate outlook

(Reuters) - The low yielding Japanese currency looked weak across the board as investors continued to favor selling low-yielders to fund purchases of higher return assets in carry trades.




European market activity was thin due to public holidays in Germany, Switzerland and Britain, while U.S. markets were also expected to be quiet due to the Memorial Day holiday.


Read more at Reuters.com Hot Stocks News

Japan's 5-Year Notes Drop as Stocks Gain; Yields at Highest Since January

(Bloomberg) -- Japan's five-year notes dropped,
pushing yields to the highest since January, after the Nikkei 225
Stock Average rebounded from the biggest decline in a month.

Yields on two-year notes touched the highest since 1997 ahead
of a 1.7 trillion yen ($14 billion) sale of the debt tomorrow.
Reports this week may show Japan's industrial production rose and
U.S. hiring increased, according to Bloomberg News surveys. Signs
of growth in the world's two biggest economies may encourage the
Bank of Japan to raise interest rates again this year.


Read more at Bloomberg Bonds News

Nordic Stocks Climb, Paced by Swedish Match, Volvo; OMX Shares Advance

(Bloomberg) -- Nordic stocks advanced, led by Swedish
Match AB, the world's second-largest maker of smokeless tobacco
products, and Volvo AB, Europe's second-biggest truckmaker.

OMX AB rallied after the Sunday Times reported the Nordic
region's biggest stock exchange operator may receive a counterbid
from Dubai.


Read more at Bloomberg Stocks News

China, Korea stocks hit records

(Reuters) - The U.S. currency hovered near a three-month high against the yen and a six-week peak to the euro as traders bet weak U.S. housing data late last week was not enough to warrant a cut in U.S. interest rates later in the year.




Crude oil prices eased about a third of a percent after a Nigerian oil union strike was suspended at the weekend, but remained above $70 a barrel on worries about gasoline supplies ahead of the U.S. summer holiday season.


Read more at Reuters.com Hot Stocks News

JGB futures steady, recover from 7-month lows

(Reuters) - Expectations that interest rates will rise in the coming
months weighed on market sentiment, pushing the two-year yield to
a 10-year high ahead of key economic data and speeches by Bank of
Japan officials later this week.




"Market players are sensing that an early rate hike could
become a reality, that rates could be raised during the
July-September period," said Akito Fukunaga, a fixed income
strategist at Credit Suisse.


Read more at Reuters.com Bonds News

Dollar supported as Fed rate cut concerns subside

(Reuters) - The dollar hovered near a six-week high against the euro on Monday as traders reckoned that weak U.S. housing data late last week was not enough to prompt the Federal Reserve to cut interest rates later in the year.

The dollar edged down from a three-month high against the yen as Japanese exporters repatriated funds, but the low-yielding Japanese currency stayed weak since traders continued to shun it for overseas assets offering higher rates.


Read more at Reuters Africa

Indonesia's Indofood shares jump on takeover plan

(Reuters) - Indofood's shares were up 7.1 percent at 1,810 rupiah by 0318 GMT, while Indofood Agri's shares rose 1.57 percent on the Singapore exchange at S$1.29, after jumping as much as 4.7 percent at one point on Monday.




Trading in shares of London Sumatra remained suspended. The shares last traded on May 23 at 6,400 rupiah.


Read more at Reuters.com Hot Stocks News

Advanced Medical, Avaya, Coca-Cola, Lawson Software: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges on
May 29. The market is closed tomorrow for the Memorial Day
holiday. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Advanced Medical Optics Inc. (EYE US) fell $3.20, or 8
percent, to $37 in extended trading May 25 after the official
close of U.S. exchanges. The company recalled one of its contact
lens solutions after U.S. health inspectors linked the product
to a rare eye disease that can cause blindness.


Read more at Bloomberg Stocks News

Bharat Petroleum Seeks Sweet, Sour Crude Oil Cargoes for August Loading

(Bloomberg) -- Bharat Petroleum Corp., India's
third-largest refiner, is seeking crude oil for loading in
August, said traders who received offer documents.

Details of the Mumbai-based refiner's requirements are as
follows:


Read more at Bloomberg Energy News

World Copper Posts Deficit of 51,000 Tons in February, Study Group Says

(Bloomberg) -- World refined copper consumption beat
production by about 51,000 metric tons in February as China and
Europe used more of the industrial metal, the International
Copper Study Group said.

Production in February was estimated at 1,396,000 tons,
compared with usage of 1,447,000 tons. After seasonal adjustments,
the deficit was about 34,000 tons for the month, the Lisbon-based
group said in an e-mailed statement dated May 25.


Read more at Bloomberg Emerging Markets News

Taiwan Dollar Advances on Speculation Central Bank Will Buy Own Currency

(Bloomberg) -- Taiwan's dollar strengthened to a
one-month high on speculation the central bank will purchase the
currency to curb declines.

A slide in the Taiwan dollar last week to a 17-month low
increased the cost of imports, adding to inflationary pressure
on the island. A weaker currency may also encourage some
investors to take funds out of the island as value of securities
holdings is eroded.


Read more at Bloomberg Currencies News

UPDATE 1-Australia's James Hardie Q4 profit falls

(Reuters) - Hardie, which makes about 80 percent of its sales in the
United States, said however it had seen some improvement in its
U.S. business during the first quarter.




"The outlook for the U.S. housing market continues to carry
significant uncertainty," said Chief Executive Louis Gries in a
statement.


Read more at Reuters.com Market News

Asia Energy Day Ahead: Oil May Rise This Week; Ethanol at Seven-Week High

(Bloomberg) -- Crude oil may rise this week on
speculation that Nigeria's supply will be cut further and
shipments from Iran may be jeopardized by its standoff with the
United Nations. Ethanol in Chicago gained a third day, to a
seven-week high. Shareholders of Exxon Mobil Corp., Royal Dutch
Shell Plc, and the world's four other biggest publicly traded
oil companies got $98 billion in returns last year as record oil
and natural-gas prices pumped up earnings.

MOST READ MARKETS STORIES


Read more at Bloomberg Energy News

Fairfax, Commonwealth Bank, FirstMac, Societe Generale: Australia Bonds

(Bloomberg) -- The following is a list of bond sales
expected in the coming days and weeks.

Eurobonds


Read more at Bloomberg Bonds News

Sybase could be eyeing Openwave takeover-Barron's

(Reuters) - That raised speculation about competitive takeover bids
from Sybase and others, Barron's said.




Harbinger, which owns 13 percent of Openwave, offered to
buy an additional 49 percent stake for about $335 million. The
share offer was for $8.30, but Openwave closed on Friday at
$9.21.


Read more at Reuters.com Mergers News

Israeli Economy Grew at Annual 6.3% in First Quarter on Spending, Exports

(Bloomberg) -- Israeli gross domestic product
expanded an annualized 6.3 percent in the first quarter, a slower
rate than the preceding three months, paced by consumer spending
and exports of goods and services.

The rate eased from a revised 7.3 percent increase in the
fourth quarter, when the economy rebounded from a slowdown caused
by last year's Lebanon conflict, the Jerusalem-based Central
Bureau of Statistics said on its Web site today. The median
forecast of six economists in a Bloomberg survey had been for 6.4
percent annualized growth.


Read more at Bloomberg Emerging Markets News

US-Cuba food trade survives political hurdles

(Reuters) - Cuba expects to sign deals worth $150 million with American food producers at talks starting on Monday that point to sustained U.S. interest in the Cuban market despite political hurdles.

Uncertainty over the fate of ailing Cuban leader Fidel Castro caused a "hiccup," trade consultant Kirby Jones said, but business has continued seamlessly under the caretaker government of his brother Raul Castro, and is picking up.


Read more at Reuters Africa

Egyptian Stocks Gain a Fourth Day, Led by Telecom Egypt, Orascom Telecom

(Bloomberg) -- Egyptian stocks rose for a fourth
day, led by Telecom Egypt, the largest fixed-line telephone
company in the Middle East, and Orascom Telecom Holding SAE.

The CASE 30 Index added 0.7 percent to 7597.34 at 10:51
a.m. in Cairo as 20 stocks rose, four fell and six were
unchanged. The benchmark has climbed 1.9 percent in the past
four days.


Read more at Bloomberg Stocks News

Dollar Rises to 6-Week High Versus Euro on Signs of U.S. Economic Growth

(Bloomberg) -- The dollar reached the strongest
level in six weeks against the euro and a three-month high
versus the yen as reports suggested the U.S. economy is
gaining momentum.

The U.S. currency gained a fourth straight week
against the euro, rebounding by more than 2 cents from its
record low set a month ago, as traders cut bets the Federal
Reserve will reduce interest rates. Reports showed a third
consecutive month of gains in durable goods orders and the
biggest jump in new home sales in 14 years in April.


Read more at Bloomberg Currencies News

RBS consortium set for ABN bid on Tuesday

(Reuters) - A trio of banks led by Royal Bank of Scotland will likely make a formal takeover offer for Dutch bank ABN AMRO on Tuesday, sources familiar with the matter said on Friday.

RBS, Fortis and Santander, who will provide an update on their plans to bid for ABN on Tuesday, currently view launching an offer as their preferred option, the sources said.


Read more at Reuters Africa

Polish Zloty Drops for Third Straight Week as Investors Turn Risk Averse

(Bloomberg) -- The Polish zloty fell for a third week
against the euro as investors turned more risk averse on concerns
about the pace of a rally in China's stocks and political tensions
with the army in Turkey.

The zloty was the sixth worst-performer against the euro of
71 currencies monitored by Bloomberg in the past five days.
Investor sentiment toward emerging markets also soured after
Federal Reserve Chairman Alan Greenspan said on May 23 that
Chinese equities might undergo a ``dramatic contraction.''


Read more at Bloomberg Currencies News

May jobs data to test stocks' rally

(Reuters) - For a holiday-shortened four-day work week, the calendar is crowded with reports on consumer confidence and the overall pace of economic growth, among others.




On Monday, U.S. financial markets will be closed in observance of the Memorial Day holiday.


Read more at Reuters.com Business News

CMS to Purchase Michigan Power Plant From LS Power Group for $517 Million

(Bloomberg) -- CMS Energy Corp. said its flagship
Michigan utility agreed to buy a power plant in the state from LS
Power Group for $517 million to meet rising demand without
purchasing electricity on the wholesale market.

Consumers Energy's purchase of the 946-megwatt plant in
Zeeland is expected to close next year subject to approval by the
Michigan Public Service Commission, Jackson, Michigan-based CMS
said today in a statement.


Read more at Bloomberg Energy News

Cleveland-Cliffs, Peru Copper, VaxGen, Agilysys: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Shares
prices are as of 4 p.m. New York time.

Adams Respiratory Therapeutics Inc. (ARXT US) rose $3.89, or
9.7 percent, to $43.94. U.S. regulators moved to force illegal
competitors to the company's Mucinex off the market. Hundreds of
time-release drugs containing the chemical guaifenesin are sold
to ease cold and cough symptoms, although Adams alone has
approval to sell such products, the Food and Drug Administration
said on its Web site.


Read more at Bloomberg Stocks News

Treasuries Drop for a Third Straight Week on Signs of U.S. Economic Growth

(Bloomberg) -- Treasuries dropped for a third week
on signs of economic recovery and as Federal Reserve policy
members reiterated their commitment to containing inflation.

Benchmark 10-year notes briefly pared their declines today
after an industry report showed sales of existing homes in the
U.S. fell in April to the lowest level in almost four years. The
yield rose yesterday to the highest level since January as
traders lowered bets on a Fed rate cut after a government report
showed the biggest jump in new-home sales in 14 years.


Read more at Bloomberg Bonds News

Cannes Film Festival Attracts Hedge Funds, Private-Equity Firms to Invest

(Bloomberg) -- The Cannes Film Festival, which ends with an
awards ceremony on May 27, is drawing investment by hedge funds
and private-equity companies in motion-picture financing,
production and distribution.

Film production companies said the money is transforming the
way some movies are being made and sold, with hedge-fund managers
becoming piggy banks for the industry. Since 2005, funds and
private-equity investors have committed at least $4.5 billion to
films, betting that the box-office returns can beat other
investments.


Read more at Bloomberg Exclusive News

Soybean Futures Surge to 35-Month High on Increased Demand for Biofuels

(Bloomberg) -- Soybean futures in Chicago rose,
extending a rally to 35-month highs, as increased demand for
alternative fuels made from oilseeds boosted soybean oil prices
to the highest in 23 years and reduced supplies for cooking.

The European Union, the biggest biodiesel market, wants
fuels made from crops to make up 5.75 percent of transportation
fuel by 2010, to reduce dependence on fossil-based energy. U.S.
biodiesel production jumped to 250 million gallons last year from
75 million in 2005 because of government subsidies of $1 per
gallon to mix the fuel with petroleum-based diesel.


Read more at Bloomberg Commodities News

Copper Rebounds as Drop in Chinese Inventory May Signal Improved Demand

(Bloomberg) -- Copper rebounded in New York as
stockpiles in Shanghai dropped for a first time in six weeks,
signaling a pickup in Chinese demand and easing concern that the
world's biggest consumer was oversupplied.

Inventories at five warehouses in the city fell 0.5 percent
to from a three-year high in the past week, after tripling since
the end of December, the Shanghai Futures Exchange said today on
its Web site. Stockpiles monitored by London Metal Exchange
declined for a sixth daily session.


Read more at Bloomberg Commodities News

U.S. Stocks Gain on M&A, Metal Prices; Archstone-Smith Shares Lead Advance

(Bloomberg) -- U.S. stocks posted their biggest gain
this week after takeover speculation swept into the real-estate
industry and metals prices surged.

Real-estate investment trusts were the top three gainers in
the Standard & Poor's 500 Index after UBS AG said Archstone-Smith
Trust, the second-largest U.S. apartment owner, is a potential
takeover target. Freeport-McMoRan Copper & Gold Inc. led mining
shares higher after gold rebounded from a two-month low and silver
also rose.


Read more at Bloomberg Stocks News

UPDATE 1-Eurotunnel gets new lease of life after swap

(Reuters) - The French AMF financial regulator said on Friday Eurotunnel
had declared it had obtained 87 percent of units after the share
swap offer and therefore the condition of 50 percent plus one
unit had been met. A unit represents one share in Eurotunnel SA
and one in Eurotunnel Plc.




"The offer will therefore have a positive outcome," AMF
said, adding the final result would be announced before May 31.


Read more at Reuters.com Government Filings News

UPDATE 1-India HDFC to sell shrs to Citi, Carlyle for $767mln

(Reuters) - HDFC, India's largest mortgage firm, will sell 18 million
shares, or 7.11 percent of the equity, to the firms at 1,730
rupees a share to raise up to 31.14 billion rupees , the company said in a statement.




After the share sale, Citigroup's holding in HDFC will
remain at 12.3 percent, while Carlyle will have 5.6 percent, it
said.


Read more at Reuters.com Bonds News

Bioenvision, Gap, Red Robin Gourmet, Verigy, Nasdaq: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:30 a.m. New York time.

Aruba Networks Inc. (ARUN US) rose $1.34, or 8.8 percent, to
$16.50 and traded as high as $16.64. The maker of wireless
networking equipment posted third-quarter sales of $34.7 million,
up 65 percent from a year earlier. That exceeded the $30.5
million estimate of three analysts surveyed by Bloomberg. The
shares rose 2 cents to $15.16 in regular trading yesterday.


Read more at Bloomberg Stocks News

Sunstone Hotel amends $200 mln revolving credit facility

(Reuters) - The maturity of the facility may be extended for one year
and the commitment increased to $300 million, the company
added.





Read more at Reuters.com Bonds News

Canada Stocks May Fall, Led by Financials, as Royal Bank Misses Estimates

(Bloomberg) -- Canadian stocks may fall for a second
day, led by financial shares, after Royal Bank of Canada reported
quarterly profit that missed analysts' estimates.

The Standard & Poor's TSX Composite Index fell yesterday for
the first time since May 14, dropping 196.24, or 1.4 percent, to
13,946.27 in Toronto.


Read more at Bloomberg Stocks News

U.S. Stock-Index Futures Rise on Takeovers; NYSE Euronext, GM Shares Gain

(Bloomberg) -- U.S. stock-index futures gained after
Nasdaq Stock Market Inc. agreed to buy Sweden's OMX AB and Coca-
Cola Co. said it would purchase Energy Brands Inc., the maker of
Glaceau Vitaminwater.

NYSE Euronext, owner of the world's largest stock market,
advanced after Goldman, Sachs & Co. upgraded the shares on
speculation of more consolidation among exchanges. MGM Mirage
shares advanced after the second-biggest casino company hired UBS
AG to advise on a possible breakup being considered by Kirk
Kerkorian.


Read more at Bloomberg Stocks News

De Beers selects bidders for S.Africa Cullinan mine

(Reuters) - The world's biggest diamond producer, De Beers, has chosen bidders interested in buying its loss-making Cullinan mine in South Africa, it said on Friday.

The firm said in February it planned to sell the Cullinan and Kimberley underground mines and other dormant diamond resources in and around Kimberley.


Read more at Reuters Africa

UBS to Sell Julius Baer Stake Valued at $3.3 Billion to Fund Share Buyback

(Bloomberg) -- UBS AG, the world's biggest money
manager, plans to sell its 4.1 billion-Swiss franc ($3.3 billion)
stake in Julius Baer Holding AG and use the proceeds to buy back
stock.

UBS got the 20.7 percent holding when it sold three private
banks and an asset management unit to Julius Baer in December
2005. The sale will generate a pretax gain of about 2.1 billion
francs, Zurich-based UBS said in a statement today.


Read more at Bloomberg Stocks News

Amgen, CVS Lead Borrowers as Corporate Bond Sales Accelerate in the U.S.

(Bloomberg) -- Amgen Inc., the world's largest
biotechnology company, and drug retailer CVS Caremark Corp. led
borrowers selling $34 billion of bonds this week as issuance
accelerated on signs the economy is improving.

The sales pushed the total for May to $128.6 billion,
making this month the second-busiest ever, according to data
compiled by Bloomberg. Thousand Oaks, California-based Amgen
issued $4 billion of notes to buy back stock, and CVS offered
$5.5 billion in the biggest investment-grade sale this year.


Read more at Bloomberg Bonds News

Coca-Cola to buy Glaceau for $4.1 billion

(Reuters) - Coca-Cola said the deal would add to its earnings per share in the first full year after the agreement is completed.




Read more at Reuters.com Mergers News

Venoco files $500 mln shelf offering

(Reuters) - Under a shelf registration filed with the U.S. Securities
and Exchange Commission, a company may sell securities in one
or more separate offerings with the size, price and terms to be
determined at the time of sale.





Read more at Reuters.com Bonds News

IMF Expects Russian Economy to Grow 7 Percent With 'Potential for Upside'

(Bloomberg) -- The International Monetary Fund
expects Russia's economy to expand at least 7 percent this year.

That forecast has ``potential for upside,'' Poul Thomsen,
head of Washington-based IMF's Russia office, told reporters in
Moscow today. The government's target of annual inflation of 7
percent to 8 percent ``is feasible,'' Thomsen said. The rate may
fall to between 6 percent and 7 percent next year, he said.


Read more at Bloomberg Emerging Markets News

IMF Says Turkish Tax Cut Plans `Inconsistent' With $10 Billion Loan Accord

(Bloomberg) -- The International Monetary Fund said
Turkey's plans to cut sales tax on tourism and food are
``inconsistent'' with a $10 billion loan accord.

``The government did not consult with us'' on the plans to
cut sales tax on tourism and some food items to 8 percent from 18
percent, Hugh Bredenkamp, the fund's representative in Ankara,
said in a telephone interview today. ``Any initiative that erodes
the'' Value Added Tax, or VAT, ``base would be inconsistent with
commitments under the IMF-supported program.''


Read more at Bloomberg Emerging Markets News

Chicago Soybean Oil Rises to 23-Year High After Malaysia Palm Oil Gains

(Bloomberg) -- Chicago soybean oil prices rose to the
highest in almost 23 years as prices of palm oil in Malaysia
climbed following a report showing vegetable oil imports by China,
the largest consumer, jumped this year.

China's palm oil imports rose 27 percent to 1.6 million
metric tons in January-April, while imports in April alone were
435,783 tons, according to data issued by the Beijing-based
customs office. Soybean oil imports rose 16 percent to 792,380
tons in the first four months. In April, it imported 211,233 tons.


Read more at Bloomberg Commodities News

CIFC Starts London Fund to Buy $2.7 Billion of European Leveraged Loans

(Bloomberg) -- Commercial Industrial Finance Corp.,
the debt-fund manager that opened an office in London this
month, plans to spend 2 billion euros ($2.7 billion) buying
loans in Europe by the end of next year.

CIFC, founded in New York two years ago, manages $2.5
billion of high-risk, high-yield loans. It buys the debt to
create collateralized loan obligations, securities that package
debt and use the income to pay investors.


Read more at Bloomberg Bonds News

Socar to Sell 2.2 Million Barrels of Rebco Crude Oil in Russia by May 30

(Bloomberg) -- Socar, Azerbaijan's state oil company,
invited bids on 2.2 million barrels of Russian export blend
crude oil that will be delivered to Novorossiysk, Russia's
biggest Black Sea port.

The winner will be announced May 30. The oil will be
shipped in three consignments from June 15 to June 30, Baku-
based Socar said on its Web site.


Read more at Bloomberg Energy News

Japan's Five-Year Government Notes Have Biggest Weekly Decline This Year

(Bloomberg) -- Japan's five-year notes had the
biggest weekly drop since December on speculation reports
showing faster-than-expected growth in the U.S. will help the
Bank of Japan build the case for raising interest rates.

Debt fell after U.S. reports showing gains in new homes
sales and consumer confidence tempered concern exports from
Japan will slow. Two-year yields rose to the highest since June
1997 after Jiji Press reported this week that BOJ policy board
member Atsushi Mizuno said policy makers may be in a better
position to judge the state of the economy in July.


Read more at Bloomberg Bonds News

Nasdaq to buy Nordic bourse group OMX for $3.7 bln

(Reuters) - Nasdaq Stock Market has agreed to buy Nordic bourse owner OMX for $3.7 billion, the two companies announced on Friday, as Nasdaq sets its sights on expanding beyond the U.S. market and adds to a wave of stock market consolidation.

Nasdaq has been under pressure to get a deal done after the London Stock Exchange's rejection of its final bid in February and as rival exchanges consolidate.


Read more at Reuters Africa

Nasdaq bids $3.7 bln for Nordic bourse group OMX

(Reuters) - The companies said in a statement that based on Nasdaq's May 23 closing price, the offer valued OMX at 208.1 crowns per share, or 25.1 billion Swedish crowns .




They said this was a 19 percent premium to OMX's May 23 closing price of 174.5 crowns. Both companies' shares were suspended on Thursday.


Read more at Reuters.com Mergers News

GAM's Chow, Spurred by Al Gore, Purchases Malaysia Timber for Asia Fund

(Bloomberg) -- The Canadian mountain pine beetle, a
voracious insect that has wiped out six years' worth of pine
forest harvests in British Columbia, prompted Inez Chow to buy
Malaysian timber stocks.

Chow, manager of GAM Holding AG's Singapore/Malaysia fund,
learned about the beetle in a September speech on global warming
by former U.S. Vice President Al Gore. She decided the timber
shortage was worse than she had thought and bought WTK Holdings
Bhd., whose shares have jumped 55 percent since mid-September.


Read more at Bloomberg Stocks News

Aecon and LionOre Mining International May Move: Canada Equity 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 fell 196.24, or
1.4 percent, to 13,946.27.


Read more at Bloomberg Stocks News

Yuan Has Second-Best Week Since February as Wu Says to Boost Flexibility

(Bloomberg) -- The yuan was set for the second
biggest weekly gain since February as Vice Premier Wu Yi said
China will increase flexibility of the exchange rate.

Treasury Secretary Henry Paulson this week said the U.S. is
``impatient'' with the pace of change. Governor Zhou Xiaochuan
yesterday said the yuan is ``already moving fast enough.''
China's currency has risen 0.22 percent this week, above the
0.09 percent average for the year.


Read more at Bloomberg Currencies News

Pantaloon, India's Retailers Add Stores to Increase Sales, Draw Investors

(Bloomberg) -- India's biggest retailers are adding
stores to lure people whose incomes are rising in the world's
second-fastest growing major economy. They're also luring
investors.

Retailers' shares, which lagged behind the broader market
in 2006, are rallying. Tata Group-owned Trent Ltd., which runs
fashion and cosmetics stores, has climbed 15 percent from an
eight-month low in March. Shoppers' Stop Ltd., which sells
clothing, accessories and home decor items, in April had its
biggest monthly gain since September.


Read more at Bloomberg Emerging Markets News

Gold Trades Near Two-Month Low in Asia Amid Dollar Rise, Silver Increases

(Bloomberg) -- Gold traded near a two-month low in
Asia as the dollar rose to highest in six weeks, reducing demand
for the precious metal as an alternative investment. Silver rose.

Gold generally moves in the opposite direction of the dollar
which gained against the euro after a U.S. government report
yesterday showed purchases of new homes in the U.S. increased the
most in 14 years. Before today gold had gained 2.8 percent this
year as the euro climbed 1.7 percent against the dollar.


Read more at Bloomberg Commodities News

U.K. House of Lords Calls for EU-Wide VAT Rate to Combat Carrousel Fraud

(Bloomberg) -- British lawmakers called for the
European Union to adopt a common value added tax rate to prevent
fraudulent traders swindling billions of euros from national
treasuries.

The House of Lords European Union Committee said in a report
today that EU nations should introduce a 15 percent VAT rate on
all cross-border trades within the 27 nation block. Trade within
the EU is currently exempt from VAT payments and, when charged,
can be claimed back.


Read more at Bloomberg Bonds News

Amgen launches $4 bln debt sale in 3 parts-mkt source

(Reuters) - Morgan Stanley and Merrill Lynch are managing the sale,
which will be used to fund a $3 billion share repurchase by
Amgen.




Read more at Reuters.com Bonds News