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