European Stocks May Rise; Statoil, BP, BHP, Nestle Will Probably Advance

(Bloomberg) -- European stocks may advance for the
first time in six days, paced by energy and mining shares as oil
and metals prices rose.

U.S.-traded securities of Statoil ASA and BP Plc gained. BHP
Billiton Ltd. and Rio Tinto Group rallied in Australian trading.
Nestle SA, the world's largest food company, will probably
increase after Deutsche Bank AG recommended buying the stock.
Groupe Danone may be active on a report the yogurt maker will
likely sell its LU cookies division.


Read more at Bloomberg Stocks News

Yen's rise fizzles as risk-aversion eases

(Reuters) - The yen's three-day rally fizzled on Thursday as a rebound in U.S. stocks eased concerns about fallout from problems in the U.S. subprime mortgage sector, prompting investors to again sell the yen in carry trades.

The Nikkei share average was up 0.57 percent on Thursday after U.S. stocks rallied the previous day, showing that investor risk appetite is reviving.


Read more at Reuters Africa

Fed May Keep 5.25 Percent Rate as Growth, Prices Vindicate Bernanke Stance

(Bloomberg) -- Federal Reserve Chairman Ben S.
Bernanke, who resisted calls for an interest-rate increase when
prices climbed and brushed off arguments for a cut as growth
slowed, can claim vindication as data on the economy reinforce
his case for keeping rates just where they are.

Economists in a Bloomberg News survey unanimously predict
that Bernanke and Fed policy makers will announce today that
they are keeping the benchmark rate at 5.25 percent, where it
has been for a year.


Read more at Bloomberg Currencies News

UPDATE 1-Yamana, Northern seek three-way gold merger

(Reuters) - Under the deal, Northern Orion shareholders would receive
0.543 of a Yamana share, or C$7.07 based on Yamana's Wednesday
closing price. Meridian shareholders would receive 2.235 of a
Yamana share plus C$3.15 in cash, totaling C$32.25 per share,
Yamana and Northern said.




The three companies have a combined market capitalization
of about $7.5 billion, according to Reuters Data.


Read more at Reuters.com Mergers News

Dollar Trades Little Changed Against Yen, Euro Before Fed Rate Decision

(Bloomberg) -- The dollar was little changed against
the yen and euro before a Federal Reserve meeting that ends today.

The Fed is expected to keep its target rate for overnight
lending between banks at 5.25 percent. Futures show traders
priced in higher odds of an interest-rate cut this year. Fed
officials acknowledged at their last meeting that a slump in
housing would restrain growth ``through most of this year,'' the
minutes of the gathering released on May 30 showed.


Read more at Bloomberg Currencies News

Bangkok Bank's 2007 Profit to Stall Amid Confidence Slump, Chartsiri Says

(Bloomberg) -- Bangkok Bank Pcl, Thailand's biggest
financial-services company, said profit growth has stalled in the
wake of a military coup that sapped consumer and business
confidence.

``We expect profit this year to be along the same basis with
what we have seen in 2006,'' said Chartsiri Sophonpanich, 48, the
bank's president, in a June 25 interview in Bangkok. ``Confidence
is low but there has been some slight improvement with the
announcement of the election timing by the end of this year.''


Read more at Bloomberg Emerging Markets News

UPDATE 1-Seven & I to spend $2.4 billion on U.S. expansion

(Reuters) - Seven-Eleven Japan, a unit of Seven & I, turned 7-Eleven Inc.
in the United States into a 100 percent subsidiary in 2005 to
gain better access to the local market and boost efficiency, a
Tokyo-based spokesman said.




The Japanese retailer has not been vigorously investing in
its 6,000 U.S. stores in the past few yearsBEV FOD US


Read more at Reuters.com Mergers News

UPDATE 4-CBOT, ICE keep pressure on as CME deal vote nears

(Reuters) - CHICAGO, June 27 - The fate of the Chicago Board
of Trade, the No. 2 U.S. futures exchange, remained in the
balance as its parent company, favoring a merger with the
Chicago Mercantile Exchange, and rival bidder ICE stepped up
the pressure on shareholders on Wednesday.




Members and shareholders of the Chicago Board of Trade's
parent, CBOT Holdings Inc. , will vote on July 9 on
whether to accept a merger deal with Chicago Mercantile
Exchange Holdings Inc. , which operates the largest U.S.
futures mart.


Read more at Reuters.com Mergers News

Thailand Current Account Surplus May Widen as Spending Slump Slows Imports

(Bloomberg) -- Thailand's current account surplus
probably widened in May as falling consumption curbed imports,
and exporters boosted overseas shipments to counter lower
domestic sales.

The surplus widened to $534 million from a $44 million
excess in April, according to the median estimate of 11
economists surveyed by Bloomberg. The current account report is
scheduled for release by the Bank of Thailand on June 29 at 2:30
p.m. in Bangkok.


Read more at Bloomberg Bonds News

New Zealand Dollar Gains as First Quarter Current Account Deficit Narrows

(Bloomberg) -- The New Zealand dollar rose after
government reports showed the nation's current account deficit
narrowed in the first quarter and more new homes were built in
May compared with a month earlier.

The currency bought 76.43 U.S. cents at 10:56 a.m. in
Wellington from 76.24 cents immediately before the report's
release and 76.10 in late Asian trading yesterday.


Read more at Bloomberg Currencies News

UPDATE 2-Bed Bath & Beyond posts higher quarterly profit

(Reuters) - First-quarter net income rose to about $104.6 million, or
38 cents a share, from $100.4 million, or 35 cents a year
earlier. Quarterly sales rose to about $1.6 billion.




Analysts, on average, were expecting the Union, New
Jersey-based retailer to earn 37 cents a share for the quarter
on about $1.5 billion in sales, according to Reuters
Estimates.


Read more at Reuters.com Market News

UPDATE 1-Sierra shareholders approve UnitedHealth deal

(Reuters) - NEW YORK, June 27 - Sierra Health Services Inc. said on Wednesday that its shareholders voted overwhelmingly to approve its acquisition by UnitedHealth Group Inc. for $43.50 per share.



Both companies expect the deal to close by the end of the year, if not sooner, Sierra said.


Read more at Reuters.com Mergers News

Sierra shareholders approve UnitedHealth deal

(Reuters) - Both companies expect the deal to close by the end of the year, if not sooner, Sierra said.



UnitedHealth said in March that it would buy Sierra for more than $2.4 billion to expand in the fast-growing Las Vegas area.


Read more at Reuters.com Mergers News

Atmel says expects to meet Nasdaq listing rules

(Reuters) - Net income was $28.9 million, or 6 cents per diluted share,
including the net benefit of a $15 million research and
development tax credit in France. A year earlier, profit was
$4.7 million, or 1 cent per diluted share.




Shares of Atmel added 11 cents in extended trade, reversing
a decline of 11 cents to $5.71 in regular Nasdaq trading ahead
of news that its filings were up to date.


Read more at Reuters.com Market News

Power back on in New York City

(Reuters) - The company was still investigating the cause.




Read more at Reuters.com Bonds News

UPDATE 1-Red Hat profit rises on demand for Linux software

(Reuters) - Fiscal first-quarter net income rose to $16.2 million, or 8
cents a share, from $13.8 million, or 7 cents a share, a year
earlier. Revenue rose to $118.9 million from $84.0 million in
the quarter ended May 31.




The company posted profit of 16 cents a share, excluding
items. On that basis, analysts expected profit of 15 cents on
revenue of $116.8 million.


Read more at Reuters.com Market News

Capital One to cut 2,000 jobs, sees charge

(Reuters) - Capital One said about half of the job cuts have taken
place. It also expects to achieve additional savings from job
attrition and by not filling open positions. It expects to
achieve about $400 million of pre-tax savings in 2008, and
another $300 million in 2009.




Read more at Reuters.com Bonds News

UPDATE 1-US money market assets hit new record-report

(Reuters) - Taxable assets rose $4.6 billion to a record $2.1 trillion,
while tax-free assets increased by $985 million to a record
$404 billion, said the report published by iMoneyNet Inc.




Taxable money fund yields slipped 2 basis points in the
week to an average 4.70 percent. Tax-free money fund yields
rose 3 basis points to an average 3.16 percent.


Read more at Reuters.com Bonds News

Gas Rises in Late-Session New York Trading, Following Oil Futures Higher

(Bloomberg) -- Natural gas in New York rose, erasing
an earlier loss, as crude oil prices surged following a
government report showing an unexpected decline in U.S. gasoline
stockpiles.

``Crude oil, the products, all had numbers that weren't as
bearish as people wanted them to be so they took the whole
complex up,'' said Michael Rose, trading director at Angus
Jackson Inc. in Fort Lauderdale, Florida.


Read more at Bloomberg Energy News

Poor nations face new health challenges --World Bank

(Reuters) - Rising life expectancy, lower fertility rates and changing
lifestyles, with more smoking, bad diets and lack of exercise,
were factors contributing to the increasing rates of the
diseases, the report said.




Such health problems not only affect the elderly but also
afflicted people between the ages of 15 and 69, when they are
their most productive, the report said.


Read more at Reuters.com Bonds News

Corn Tumbles on Speculation Rains in Midwest to Boost Propsects for Crops

(Bloomberg) -- Corn fell to the lowest in four
weeks in Chicago on speculation that rains will revive Midwest
crops threatened by hot, dry weather earlier this month.

As much as twice the normal amount of rain may fall from
Kansas to Ohio in the next five days, boosting soil moisture in
fields that had been depleted by six weeks of heat and dryness,
said Mike Tannura, a meteorologist for T-Storm Weather in
Champaign, Illinois. Cool weather this weekend also will benefit
crops next month.


Read more at Bloomberg Commodities News

U.S. Stocks Rise, Led by Energy, Technology Companies; Oracle, Nike Jump

(Bloomberg) -- U.S. stocks rose after a rally in
oil improved the earnings prospects of energy companies and
profit at Oracle Corp. topped analyst estimates.

Exxon Mobil Corp., the world's biggest oil producer, led
energy stocks in the Standard & Poor's 500 Index to the top
gain among 10 industries. Oracle, the No. 3 software maker,
pushed the Nasdaq Composite Index higher for the first time in
four days after saying sales may rise 21 percent.


Read more at Bloomberg Stocks News

Doctors want more study on overuse of video games

(Reuters) - The AMA, which recommended a review of the current video game rating system, also said it would leave it up the American Psychiatric Association and other experts to decide whether video game addiction should be designated a mental illness.




"While more study is needed on the addictive potential of video games, the AMA remains concerned about the behavioral, health and societal effects of video game and Internet overuse," said AMA president Dr. Ronald Davis.


Read more at Reuters.com Government Filings News

Conrad Black trial goes to jury

(Reuters) - The 62-year-old, Canadian-born Black, a member of Britain's House of Lords, could face decades in prison and the forfeiture of millions of dollars if convicted on all counts.




Read more at Reuters.com Bonds News

UPDATE 1-Goldman raises Cytec, adds to Americas buy list

(Reuters) - The company's shares were up 3.8 percent at $63.99 in
midday trading, after having risen as high as $64.90, earlier
in the session on the New York Stock Exchange.




"Cytec is poised to benefit from lower fixed costs,
selective pricing increases, along with its aggressive cost
savings and production rationalization initiatives," Goldman
Sachs analyst Robert Koort said in a note to investors.


Read more at Reuters.com Mergers News

Mexico's Bolsa Falls on U.S. Report, Led by Cemex; Vale Declines in Brazil

(Bloomberg) -- Mexican stocks fell for a fourth day,
led by cement maker Cemex SAB, on concern a slowing U.S. economy
will hurt exports.

The benchmark Bolsa index slid 0.8 percent today to 30,515.36
as of 11:59 a.m. in New York. It is the first four-day decline in
the index since April. Brazil's Bovespa index fell 260.82, or 0.5
percent, to 53,590.86.


Read more at Bloomberg Stocks News

Personal Finance: The credit card re-shuffle

(Reuters) - WASHINGTON, June 27 - Americans are dissatisfied,
resentful and apathetic -- about their credit cards! Those are
the findings of a recent survey which found more than half of
Americans are unhappy with the plastic in their wallet, but not
really doing anything about it.




" ... contradictions between how the public
thinks about credit cards and how they actually use them," said
Elisabeth Demarse of CreditCards.com, the comparison site which
sponsored the study. The survey, carried out by GFK Roper
Public Affairs and Media for CreditCards.com, found that most
cardholders ignore offers they get in the mail and don't bother
comparison shopping online for new cards either, even though
they're not happy with the card they have.


Read more at Reuters.com Bonds News

Private equity firms see rising threat of lawsuits

(Reuters) - Almost half of 170 private equity professionals
surveyed by Marsh, a unit of the world's largest insurance
broker Marsh & McLennan Cos. Inc. , said they expected to
defend against more legal action over the next two years.




Only 6 percent said they expected less legal action.


Read more at Reuters.com Government Filings News

U.S. Stocks Retreat on Drop in Durable Goods; GE, Moody's Shares Decline

(Bloomberg) -- U.S. stocks rose after energy
shares rebounded with the price of oil and Oracle Corp.
reported results that beat analyst estimates.

Exxon Mobil Corp., the biggest crude producer, and Chevron
Corp., the second largest, advanced. Oracle, the No. 3 software
maker, gained after saying sales may rise 21 percent.


Read more at Bloomberg Stocks News

Wells Fargo CEO--Large out-of-market deal unlikely

(Reuters) - San Francisco-based Wells Fargo operates mainly in the western two-thirds of the United States.




Earlier Wednesday, Wells Fargo announced Stumpf's promotion to chief executive. He had previously been chief operating officer. Richard Kovacevich, who had been chief executive since 1998, will remain chairman.


Read more at Reuters.com Mergers News

UPDATE 1-Southwest Air to slow capacity growth

(Reuters) - Southwest, the leading U.S. discount carrier, intends to
adjust its route schedule to slow capacity growth to about 6
percent for 2007 and 2008, down from a planned increase of
about 8 percent, CEO Gary Kelly said during a company analyst
conference.




Southwest has gotten off to a slow start this year,
buffeted by tougher competition and softening demand for air
travel. It has said it will likely not grow revenue fast enough
to achieve its long-standing target of 15 percent growth in
earnings before special items this year.


Read more at Reuters.com Market News

Hungarian Stocks Lead Declines in Central Europe: World's Biggest Mover

(Bloomberg) -- Hungary's benchmark index fell from
a record, pacing declines in central European stock markets.

Mol Nyrt. tumbled after Deutsche Bank AG recommended
selling the stock and Hungary's prime minister said he will
fight a takeover of the country's largest oil company.


Read more at Bloomberg Stocks News

Freddie Mac sells $2.5 billion in bills

(Reuters) - The sale was part of Freddie Mac's weekly bill auction, on
Monmday Freddie Mac sold $1.5 billion in three-month bills due
Sept. 24, 2007, $1.0 billion in six-month bills due Dec. 24,
2007 and $1.0 billion in 12-month bills June 23, 2008.




Read more at Reuters.com Bonds News

Steadier dollar may burst commodity bubble: fund

(Reuters) - Michael Howell, managing director at UK-based Crossborder Capital, said a large part of commodity price gains in recent years were due to the generally weaker dollar rather than strong economic growth as is generally advertised.




A weaker U.S. currency makes dollar-denominated commodities cheaper and more attractive to investors holding other currencies.


Read more at Reuters.com Hot Stocks News

Flight from risk weighs on base metals

(Reuters) - Investors switching to safer assets due to fears of economic slowdown weighed on industrial metals on Wednesday, but strikes at mines capped losses.

Weaker metal prices hit London-listed miners. Xstrata, BHP Billiton and Rio Tinto shed around 2.5 percent, in line with falling European shares, which tracked losses in U.S. and Asian markets.


Read more at Reuters Africa

Guitar Center to be acquired by Bain Capital

(Reuters) - The offer represents a 26 percent premium over Guitar Center's closing price on Tuesday.




The transaction is expected to close in the fourth quarter, the company said.


Read more at Reuters.com Business News

U.S. Stock-Index Futures Retreat; ConocoPhillips, General Electric Decline

(Bloomberg) -- U.S. stock-index futures fell after
energy producers retreated on a drop in the price of oil and a
government report said orders for durable goods declined more
than forecast.

ConocoPhillips, the third-largest U.S. oil company,
slipped after it said it will record a charge of $4.5 billion
to write off its Venezuela projects. General Electric Co., the
second biggest company by market value, also dropped.


Read more at Bloomberg Stocks News

UK's Jaeger happy to go it alone as sales surge

(Reuters) - High-end and luxury retailers boasting iconic brands have
attracted private equity investors looking to expand their
operations in emerging economies such as China and Russia, where
demand for designer clothes and accessories is booming.




CEO Belinda Earl, formerly head of department store group
Debenhams before its private equity buyout, said there
were "always the speculative calls" at Jaeger but that they had
never reached a stage at which money was discussed.


Read more at Reuters.com Market News

UnitedHealth says does not endorse TRC's mini-tender offer

(Reuters) - The company said TRC's offer to purchase up to 2 million shares of UnitedHealth's common stock for $51.50 per share is 3.03 percent below its closing price on June 13, the day before the start of the unsolicited offer.






Read more at Reuters.com Mergers News

US STOCKS-Futures signal weak start on liquidity worry

(Reuters) - In takeover news, Rupert Murdoch told Reuters on Wednesday
he had no plan to raise his News Corp.'s bid for Dow
Jones & Co. Inc. and said he is waiting for final
approval of the proposed acquisition from the Bancroft family,
which controls the publisher of the Wall Street Journal. For
details, see [ID:nL27771376].




A weak Japanese currency has allowed investors to borrow
cheaply in yen to buy higher-yielding assets elsewhere, a
practice known as carry trade. The yen rose on Wednesday
against the dollar and euro.


Read more at Reuters.com Bonds News

Aeroflot Drops Alitalia Bid, Says It Was Denied `Critical' Information

(Bloomberg) -- OAO Aeroflot, eastern Europe's
largest airline, abandoned a bid for the Italian government's
stake in Alitalia SpA, saying it was denied ``critical
information'' about the company.

``Aeroflot and its advisers have not had access to
critical information with respect to the commercial and
operational aspects of Alitalia's business to confidently
formulate a well-supported business proposal to successfully
restructure Alitalia,'' the Moscow-based company said in an e-
mail today.


Read more at Bloomberg Emerging Markets News

Commodity Trading Triples in `Long-Dated' Futures, Societe Generale Says

(Bloomberg) -- Oil traders have tripled their use
of futures contracts for delivery three years from now since
2000, enabling refiners and other users to bolster their
protection against swings in prices, Societe Generale SA said.

The number of oil-futures contracts traded three years
ahead rose to 61,696 last year from 17,035 in 2000, said Michael
Haigh, a commodity strategist at Societe Generale, citing U.S.
Commodity Futures Trading Commission, or CFTC, data on the
benchmark West Texas Intermediate oil market. Hedge funds were
the most active traders of the contracts, he said.


Read more at Bloomberg Energy News

U.S. 10-Year Notes Advance as Investors Shun Risk, Stock Markets Decline

(Bloomberg) -- U.S. 10-year notes rose for a fourth
day, the longest run of gains since February, as investors turn
more risk averse on concerns losses linked to subprime mortgages
in the U.S. will hurt the wider global economy.

Yields fell to the lowest in almost three weeks after losses
at hedge funds run by Bear Stearns Cos. and the U.K.'s Queen's
Walk Investment Ltd. showed increases in mortgage defaults may
impair the value of securities backed by pools of debt. Stock
markets also declined, with European equities dropping for a
fifth day, boosting Treasuries.


Read more at Bloomberg Bonds News

Platinum Falls as South African Talks May Avert Strike; Palladium Gains

(Bloomberg) -- Platinum declined for a third
consecutive day in London on speculation wage talks will avert a
strike in South Africa, the biggest producer of the precious
metal. Palladium increased for the first time in three days.

The National Union of Mineworkers cut its demand for a pay
raise to 18 percent, from 20 percent, in negotiations with
Northam Platinum Holdings Ltd. yesterday. Talks are expected to
resume on July 3. Anglo Platinum Ltd., the world's biggest
platinum producer, goes back to the bargaining table today.


Read more at Bloomberg Commodities News

Retailer X5 Borrows $1 Billion From Goldman, Sberbank and Surgutneftegaz

(Bloomberg) -- X5 Retail Group NV, Russia's largest
supermarket chain, borrowed $1 billion from banks led by Goldman
Sachs Group Inc. and Citigroup Inc. to refinance existing debt.

The money will go to refinance an $800 million loan taken
out last year to fund the merger of its two main chains, the
Moscow-based company said today in a statement. The new loan has
a one-year term.


Read more at Bloomberg Emerging Markets News

Gold hits 3-month low as investors flee risk

(Reuters) - Spot gold slipped to $640.50/640.90 an ounce as of 0635 GMT, from $642.00/642.60 late in New York on Tuesday, when it plunged more than $10. Earlier in Tokyo, gold fell as low as $638.90, the lowest since March 14.




Spot silver fell as low as $12.11 an ounce, the lowest since January 8, following a decline in gold and falls in copper prices. By late Tokyo trade, silver stood at $12.16/12.19 versus $12.24/12.27 in late New York on Tuesday.


Read more at Reuters.com Hot Stocks News

Bear Stearns Turns to Marano for Fund Bailout, Underscoring Risk of Losses

(Bloomberg) -- Bear Stearns Cos. assigned its top
mortgage trader to help manage the $1.6 billion bailout of a
money-losing hedge fund, highlighting the risk of losses as it
tries to unwind bad bets on investments tied to home loans.

Thomas Marano, the 45-year-old global head of mortgages and
asset-backed securities, was parachuted in after the firm agreed
to finance the Bear Stearns High-Grade Structured Credit
Strategies Fund, according to a person with knowledge of the
decision. New York-based Bear Stearns said in a statement
yesterday that it won't rescue a second fund, which borrowed
more heavily and sustained bigger losses.


Read more at Bloomberg Bonds News

Citi in talks to buy electronic trading firm: report

(Reuters) - The deal would be part of Citigroup's strategy of trying to increase its market share in trading U.S. stocks while bringing under its roof computer programs that could improve its efforts to trade stocks overseas, according to the report.




Citigroup did not immediately return calls seeking comment. A spokeswoman for ATD declined comment.


Read more at Reuters.com Business News