Tarantino, Coal-Mine Theme Park Fail to Rescue Yubari From Financial Ruin

(Bloomberg) -- Yubari, a former coal-mining town in
northern Japan, once attracted movie director Quentin Tarantino
to its annual film festival. Now it's more famous for going bust.

The community of 13,000 people accumulated debts of 63
billion yen ($523 million) partly to build hotels, a ski slope
and a coal-mining theme park after the last pit closed in 1990.
In March, the central government rescheduled Yubari's debts after
the city agreed to slash spending and sell assets.


Read more at Bloomberg Exclusive News

China shares bounce, hopes for official statement

(Reuters) - Traders said rumors spread through the market that authorities were preparing to issue a public statement pledging to maintain positive policies toward stocks.




The government may state it will not introduce a capital gains tax for three years, and may promise to continue promoting corporate restructuring schemes that benefit shareholders, among other policies, according to the rumors.


Read more at Reuters.com Hot Stocks News

Akka, Avenir Telecom, Colas, Groupe Crit, Natixis: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange. Stock symbols are in
parentheses and prices are from the last close.

The CAC 40 Index retreated 42.34, or 0.7 percent, to
6125.81 today. The broader SBF 120 Index declined 0.6 percent.


Read more at Bloomberg Stocks News

Ciena, Community Bank, Credence, Openwave, Bed & Bath: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

Amgen Inc. (AMGN US): The world's largest biotechnology
company agreed to buy Ilypsa, a private company developing drugs
for kidney disorders, for $420 million. The stock lost 3 cents
to $56.91 in regular trading.


Read more at Bloomberg Stocks News

UPDATE 1-JPMorgan Chase to update Aussie debt investors

(Reuters) - JPMorgan Chase Co. has recently established its first
Kangaroo bond programme, but has yet to issue from it.




Its senior credit is AA- by Standard & Poor's and Aa2 by
Moody's.


Read more at Reuters.com Bonds News

Hong Kong Exchange Seeks Advisers to Set Up Commodities Derivatives Market

(Bloomberg) -- Hong Kong Exchanges & Clearing Ltd.,
manager of Asia's third-biggest stock market, may choose advisers
as early as this month to study the creation of a commodities
derivatives market, Chairman Ronald Arculli said.

The bourse narrowed the list of potential advisers to six
from 20 and will make a decision ``in the next few weeks,''
Arculli said in an interview yesterday. The exchange is also
pressing ahead with efforts to seek listings from countries other
than China, he said.


Read more at Bloomberg Stocks News

Gold Little Changed in Asia as Weaker Dollar Boosts Appeal; Silver Rises

(Bloomberg) -- Gold was little changed in Asia amid
speculation a fall in the dollar will help to boost demand for
the precious metal as an alternative investment. Silver rose.

Gold generally moves in tandem with the euro which gained
against the dollar on speculation Europe's inflation will
accelerate, boosting the prospect the European Central Bank will
raise interest rates tomorrow. Gold has risen 5.5 percent this
year, while the euro gained 2.2 percent.


Read more at Bloomberg Commodities News

Indonesian Government Won't Allow Oil Palm Growers to Cut Primary Forests

(Bloomberg) -- Indonesia, the world's third-largest
emitter of greenhouse gases, won't allow oil palm growers to cut
primary forests for establishing plantations, Minister for
Environment Rachmat Witoelar said.

Per capita carbon dioxide emissions in the Southeast Asian
nation, the biggest producer of the gas after the U.S. and China,
is growing at a rate of 4 percent a year, compared with 3.5
percent in India and 2.7 percent in China, according to a report
released yesterday by the World Bank.


Read more at Bloomberg Emerging Markets News

Australian, New Zealand Dollars Are Near 15-Year High Against Japanese Yen

(Bloomberg) -- The Australian and New Zealand dollars
traded near the highest in more than 15 years against the yen on
speculation investors will buy the nations' higher-yielding assets
with money from Japanese loans.

Investors borrow yen in Japan, where the key borrowing cost
is 0.5 percent, to buy assets in New Zealand and Australia, where
rates are 7.75 percent and 6.25 percent, respectively. New
Zealand's dollar, the kiwi, was the biggest gainer versus the yen
among the 16 most-traded currencies this month, while Australia's
dollar was the third best performer after Canada's currency.


Read more at Bloomberg Currencies News

Australian Oil Stocks Gain, Led by Woodside; Retail Shares, Metcash Slide

(Bloomberg) -- Australian energy-related stocks
gained, led by Woodside Petroleum Ltd. after crude oil prices
traded near a two-week high.

Metcash Ltd. led retail stocks lower after it posted profit
and a forecast that missed some analysts' estimates.


Read more at Bloomberg Stocks News

Japan's Inflation-Linked Bonds Are a Buy as Oil Price Rises, Barclays Says

(Bloomberg) -- Investors should buy Japan's
inflation-linked bonds as a bout of deflation in the world's
second-largest economy will probably end in October, Barclays
Capital Inc. said.

The investment banking division of London-based Barclays
Plc. said rising fuel costs will boost core consumer prices
after a nine-month slump. The breakeven rate, the gap in yields
between regular and inflation-linked bonds, closed last week at
the widest since October as reports showed a falling jobless
rate and rising household spending. The rate represents what the
market expects prices will average in the next decade.


Read more at Bloomberg Bonds News

Australian Stocks Drop From Record High; Metcash Declines, Woodside Gains

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, fell 0.08 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange fell 5.10 to 6,387.80. Among the stocks in the index, 50
rose, 68 fell and 83 were unchanged.


Read more at Bloomberg Stocks News

Making drugs quicker: cancer drug clears 1st test

(Reuters) - The compound, ABT-888, is designed to help cancer drugs
work better by preventing cancer cells from fighting off the
treatment.




"It's a highly potent compound," Dr. Shivaani Kummar, a
researcher with the National Cancer Institute Center for Cancer
Research, said in an interview on Monday.


Read more at Reuters.com Government Filings News

Chindex International adopts stockholder rights plan

(Reuters) - The board has declared a dividend distribution of one right
for each Chindex outstanding share, payable to stockholders of
record on June 14, the company added.





Read more at Reuters.com Government Filings News

Ciena, Community Bank, Credence, Openwave: U.S. Equity Preview

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

Amgen Inc. (AMGN US): The world's largest biotechnology
company agreed to buy Ilypsa, a private company developing drugs
for kidney disorders, for $420 million. The stock lost 3 cents
to $56.91 in regular trading.


Read more at Bloomberg Stocks News

Mexican lawmakers see tax proposal hatched in June

(Reuters) - Calderon's team has been in talks with lawmakers since
January on how to boost government revenue and reduce Mexico's
dependence on oil exports.




Market optimism about a potential deal has driven Mexico's
stock market up 4.7 percent since last Tuesday.


Read more at Reuters.com Bonds News

OMX reports owning over 10 percent of Nasdaq

(Reuters) - A spokeswoman for Nasdaq was not immediately available to
comment.




OMX, a Swedish company that operates Nordic bourses, agreed
on May 25 to be acquired by Nasdaq, the largest U.S. electronic
stock exchange, for $3.7 billion.


Read more at Reuters.com Mergers News

Accredited Home, Amylin, Anadarko, Cadence: 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.

Accredited Home Lenders Holding Co. (LEND US) rose $1.36, or
9.9 percent, to $15.12. The subprime mortgage lender that raised
doubts about its survival will be sold to private-equity firm
Lone Star Funds for about $400 million in cash.


Read more at Bloomberg Stocks News

NYSE named in $4 bln lawsuit over trading

(Reuters) - Among the many other defendants in the June 1 complaint are Bank of America Corp., Bear Stearns Cos. Inc., Goldman Sachs Group Inc., LaBranche & Co. and Van der Moolen Holding NV, which operate specialist firms that help conduct trading from the Big Board floor.




Sea Carriers LP and its affiliate Sea Carriers Corp., which brought the suit, are based in Stamford, Connecticut, and have traded billions of shares through SuperDOT, according to the complaint. They accused NYSE Euronext and specialists of colluding to favor floor traders.


Read more at Reuters.com Business News

Wheat Futures Drop, Giving Up Gains, on Rainfall in Exporting Countries

(Bloomberg) -- Wheat prices fell in Chicago and
Kansas City, giving up earlier gains, as rain benefited crops in
Australia and other exporting countries.

Soil moisture has improved in Australia, the third-biggest
exporter of the grain, after drought last year killed or damaged
plants. The U.S. government still expects Australia to produce
57 percent less wheat during the marketing year ended May 31
than in the previous year. Rain in parts of Canada may benefit
the spring wheat crop, forecaster Meteorlogix said.


Read more at Bloomberg Commodities News

Calpine completes financing for Canadian plant

(Reuters) - The power plant is expected to start up in 2008 and will
operate under a 20-year power supply contract with the Ontario
Power Authority.




The financing was co-arranged by BMO Capital Markets, a
unit of BMO Financial Group, and the Bank of Tokyo-Mitsubishi
UFJ Ltd.


Read more at Reuters.com Bonds News

Manulife wants to beef up Canada mutual fund ops

(Reuters) - "Acquisitions is something that we would look at strongly
if there's an opportunity out there," he said, adding that
Manulife would need a proprietary distribution network to
succeed in the retail mutual funds business.




Manulife, North America's second biggest life insurer and
Canada's largest, offers mutual fund products in Canada but is
a small player compared with the country's big banks.


Read more at Reuters.com Mergers News

Bovespa Falls From Record in Brazil, Led by Banks; Penoles Gains on Bolsa

(Bloomberg) -- Brazil's stock index fell for the second
time in three days, led by bank Banco Bradesco SA, as investors
sold shares to take advantage of gains after the market rose to a
record last week.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 269.43, or 0.5 percent, to 53,153.24 after jumping
2.2 percent Friday. The Bolsa index gained 10.66, or less than 0.2
percent, to 31,957.06 after setting a record June 1.


Read more at Bloomberg Stocks News

Soybeans Extend Rally to 35-Month High as Dry Weather Threatens U.S. Crop

(Bloomberg) -- Soybean futures in Chicago extended
a rally to a 35-month high on speculation dry weather from
Mississippi to Virginia will threaten U.S. crops as they begin
to reproduce in the next month.

Rains will stay north of a line from Kansas City to
Cincinnati for the next 10 days, depleting soil moisture after
fields received less than 25 percent of normal rain in May, said
David Streit, a forecaster for CropCast Services Inc. in
Rockville, Maryland. Warmer, drier weather will probably stay in
the region until August and may move into the Midwest, he said.


Read more at Bloomberg Commodities News

European Stocks Drop for First Time in Three Days, Led by Deutsche Bank

(Bloomberg) -- European stocks dropped for the first
time in three days, led by Deutsche Bank AG and BNP Paribas SA,
after JPMorgan Chase & Co. cut its recommendation on the
investment-banking industry.

Utilities shares fell from a record high, paced by Gaz de
France SA and E.ON AG. Dassault Systemes SA, whose software
helped design the Airbus SAS A380 passenger jet, declined after
UBS AG cut its recommendation on the stock.


Read more at Bloomberg Stocks News

Loews in $4 billion deal for Dominion gas assets

(Reuters) - The main properties being acquired are located in the Permian Basin in Texas, the Black Warrior Basin in Alabama and the Antrim Shale in Michigan, with estimated reserves of about 2.5 trillion cubic feet of gas. The price equates to about $1.61 per thousand cubic feet, Loews said.




New York-based Loews, the majority owner of natural gas pipeline operator Boardwalk Pipeline Partners LP , plans to set up a new company for the acquired assets. It said it will also retain existing management, led by Timothy Parker, a Dominion senior vice president of exploration and production.


Read more at Reuters.com Business News

European Government Bonds Advance as Yields at Three-Year High Lure Buyers

(Bloomberg) -- European government bonds advanced for
the first day in three on speculation 10-year yields at the
highest in more than three years will attract investors.

Ten-year bunds, the benchmark for Europe, last month fell by
the most since March 2006 on concern the 13-nation euro region is
growing faster than expected and the European Central Bank hasn't
raised interest rates far enough to prevent inflation picking up.
ECB policy makers on June 6 will raise rates a quarter point to 4
percent, a Bloomberg News survey predicts.


Read more at Bloomberg Bonds News

Oil Rises Above $66 on Increased Fuel Consumption, Nigeria Supply Concern

(Bloomberg) -- Crude oil rose above $66 a barrel in
New York on signs high prices aren't slowing the growth of fuel
demand and that supplies from Nigeria may be further disrupted.

Total implied fuel demand in the U.S. averaged 20.9 million
barrels in the four weeks ended May 25, up 2.4 percent from the
same period a year earlier, according to the Energy Department.
The department measures shipments from refineries, pipelines and
terminals to calculate demand. Union officials in Nigeria's oil
and gas industry said they plan to support a general strike.


Read more at Bloomberg Energy News

Euro Advances From Seven-Week Low Against Dollar on Outlook for ECB Rates

(Bloomberg) -- The euro rose from a seven-week low
against the dollar on speculation Europe's inflation will
accelerate, forcing policy makers to push interest rates higher
through the rest of this year.

The euro touched the all-time high against the yen after
Financial Times Deutschland said the European Central Bank will
lift forecasts for inflation and economic growth. The yen and
the Swiss franc advanced against the dollar as a slump in
Chinese stocks pushed investors to exit so-called carry trades,
in which they buy higher-yielding assets financed by loans in
Japan and Switzerland.


Read more at Bloomberg Currencies News

SAA to embark on airline restructuring plan

(Reuters) - State-owned South African Airways announced on Monday it was embarking on a restructuring plan in a bid to return to profitability within 18 months.

SAA said the move, which involves spinning off non-flight operations into seven subsidiaries, was expected to result in a 2.7 billion rand turnaround over the next 12 to 18 months.


Read more at Reuters Africa

US April factory orders rise 0.3 percent

(Reuters) - Excluding transportation, factory orders rose 0.7 percent
after a 2.4 percent increase in March.




Orders for durable goods, long-lasting items meant to last
three years or longer, were revised to show a
bigger-than-expected 0.8 percent. Durables orders were
previously reported to have risen 0.6 percent, and analysts
polled by Reuters had expected the durables figure to stay
unrevised.


Read more at Reuters.com Economic News

Treasuries Gain Amid High Yields, Stock Declines in China, Europe, U.S.

(Bloomberg) -- Treasuries gained as interest rates
near their high for the year and the safety of government debt
attracted investors after China's benchmark stock index fell 7.7
percent.

The benchmark 10-year Treasury yield, which moves inversely
to its price, reached a nine-month high June 1 of 4.96 percent.
Equity indexes in the U.S. and Europe also declined.


Read more at Bloomberg Bonds News

Chrysler sale likely to be simple in EU

(Reuters) - In the past, Americans criticised the Commission for making
it difficult for Boeing to buy McDonnell Douglas and impossible
for General Electric to buy Honeywell International.




But as long as no one complains, the Chrysler deal will be
cleared without ado by July 3.


Read more at Reuters.com Government Filings News

Russian Oil Stock Price Estimates Cut at Citigroup on Higher Taxes, Costs

(Bloomberg) -- Russian oil stocks including OAO
Lukoil won't benefit from rising oil prices because the
companies' costs will increase as they are forced to extract oil
from newer fields, Citigroup Inc. said today.

The world's biggest financial-services company cut its price
estimates for six Russian oil companies, including Lukoil, the
country's second-largest oil producer, even as it raised its
projection for crude prices, according to a report by Citgroup
analysts James Neale and Alexander Korneev.


Read more at Bloomberg Stocks News

UPDATE 1-J2 Global Communications names CFO

(Reuters) - Turicchi remains the company's co-president and assumes the
responsibility of chief accounting officer from Greggory
Kalvin.




Griggs, who served as a financial consultant for various
companies, will also serve as principal financial officer and
principal accounting officer, the company said in a filing with
the U.S. Securities and Exchange Commission.


Read more at Reuters.com Government Filings News

Wal-Mart Upgraded By At Least Three Brokers as Buyback May Boost Earnings

(Bloomberg) -- Wal-Mart Stores Inc. was upgraded by
at least three U.S. brokerages following the retailer's
announcement that it plans to buy back as much as $15 billion of
shares and reduce the number of new stores.

Wal-Mart, the world's largest retailer, was upgraded to
``overweight'' from ``neutral'' at JPMorgan, which said the stock
buyback and plans to cut capital expenditures, announced June 1,
may increase earnings.


Read more at Bloomberg Stocks News

Euro Rises to Record Against Yen, Climbs Versus Dollar on Interest Rates

(Bloomberg) -- The euro rose to a record against the
yen and strengthened versus the dollar on speculation inflation
will accelerate in Europe, forcing policy makers to push
interest rates higher through the rest of this year.

The euro rallied the most in almost three weeks against the
dollar after Financial Times Deutschland said that the European
Central Bank will lift inflation and economic growth forecasts
for the region. The ECB, due to meet on June 6, is expected to
increase borrowing costs by a quarter point to 4 percent,
economists unanimously predicted in a Bloomberg survey.


Read more at Bloomberg Currencies News

Amedisys buys three home health agencies

(Reuters) - The transactions are not expected to add materially to 2007
earnings, the home healthcare provider said in a statement.





Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Decline After Chinese Shares Tumble; Boeing Falls

(Bloomberg) -- U.S. stock futures fell after China's
benchmark index plunged 7.7 percent on speculation the country's
government won't try to halt a slide that has erased more than
$350 billion of market value in four days.

Boeing Co., the world's second-biggest maker of commercial
aircraft, and JPMorgan Chase & Co., the third-largest U.S. bank,
declined.


Read more at Bloomberg Stocks News

Harry Potter Fanatics Await Hero's Fate as London Bookies Bet He's Doomed

(Bloomberg) -- Millions of children and adults are
waiting to learn the fate of Harry Potter in the seventh and
final novel of author J.K. Rowling's series. Bookies are certain
Harry's a goner.

William Hill Plc, a London-based bookmaker, is so sure of
Harry's demise that it stopped accepting wagers and shifted
betting to the possible killers. Lord Voldemort, who murdered
Potter's parents, is the most likely villain, at 2-1 odds,
followed by Professor Snape, one of his teachers, at 5-2.


Read more at Bloomberg Exclusive News

ABN, bidders' unions discuss job cut threat

(Reuters) - Barclays and the RBS consortium are locked in a tussle for
what would be the biggest-ever bank takeover.




Barclays has said 23,600 jobs will be cut if it buys ABN,
including 10,800 positions moved to low-cost locations. The
total would represent almost 11 percent of the banks' combined
workforce of 217,000.


Read more at Reuters.com Mergers News

High oil price, supply fears help turn coal to fuel

(Reuters) - Although potentially more polluting than other alternatives, coal-to-liquids has the advantage of relying on widely-available raw material. The rising cost of much scarcer oil resources is making it commercially viable.




"It's not a silver bullet, but it's part of the mix," said Corey Henry of the U.S.-based Coal-To-Liquids Coalition. "With oil anywhere between $45-$55, you can produce a profit."


Read more at Reuters.com Hot Stocks News

Gold Drops as Dollar's Gains May Reduce Investment Demand; Silver Declines

(Bloomberg) -- Gold fell, halting last week's 2.4
percent rally, the biggest in three months, on speculation of
reduced investment demand following gains in the dollar and little-
changed inflation.

Last week's surge came after the European Central Bank said it
won't sell more bullion until after Sept. 26. Speculators have
reduced their holdings in New York gold futures for three weeks, a
U.S. government report on June 1 showed.


Read more at Bloomberg Commodities News

S.Africa vehicle sales down 1.7 pct yr/yr in May

(Reuters) - South African new vehicle sales declined by 1.7 percent to 51,684 units in May compared to the same month last year, the National Association of Automobile Manufacturers (NAAMSA) said on Monday.

While the general economic outlook remains largely positive a number of recent negative economic developments clouded the short term outlook for the new vehicle market, including higher than projected April consumer and producer inflation data.


Read more at Reuters Africa

U.K. Day-Ahead Electricity Prices Decline as Spare Output Capacity Rises

(Bloomberg) -- U.K. electricity for delivery on the
next working day declined after imports from France helped widen
the margin of spare power-generation capacity available to meet
demand.

Working-day-ahead power dropped 7.1 percent to 22.75 pounds
($45.13) a megawatt-hour, according to prices on Bloomberg from
the energy broker GFI Group Inc. The last traded price on June 1
for delivery today was 24.50 pounds a megawatt-hour.


Read more at Bloomberg Energy News

Russian Stocks Fall for First Time in Three Days, Led by Rosneft, Lukoil

(Bloomberg) -- Russian stocks dropped for the first
time in three days, led by OAO Rosneft, OAO Lukoil and OAO
Surgutneftegaz.

The ruble-denominated Micex Index lost 0.5 percent to
1611.90 at 10:36 a.m. in Moscow. The dollar-denominated RTS
Index was little changed at 1829.91.


Read more at Bloomberg Stocks News

European Bank Stocks Decline, Led by Deutsche Bank; Tiscali, Clariant Gain

(Bloomberg) -- European bank stocks dropped, led by
Deutsche Bank AG and BNP Paribas SA, after JPMorgan, Chase & Co.
cut its recommendation on the investment-banking industry.

Tiscali SpA gained on speculation the Italian Internet
provider may be bought. Clariant AG, a Swiss chemical company,
also paced advancing shares.


Read more at Bloomberg Stocks News

European Stocks Decline, Led by Banks; Deutsche Bank, BNP Paribas Fall

(Bloomberg) -- European stocks dropped for the first
time in three days, led by Deutsche Bank AG and BNP Paribas SA,
after JPMorgan, Chase & Co. cut its recommendation on the
investment banking industry.

Europe's Stoxx 600 climbed to the highest since September
2000 last week as a rebound in metals prices buoyed mining
companies and economic reports in the U.S. suggested growth in
the world's biggest economy is picking up. The measure is within
6 points of a record.


Read more at Bloomberg Stocks News