European Mining Stocks, BHP Billiton May Advance; FastWeb May Decline

(Bloomberg) -- European mining stocks may gain, led
by BHP Billiton Ltd. and Rio Tinto Group, after copper prices
rose. Indexes in the region may open little changed.

FastWeb SpA, the Italian phone and Internet company bought
by Swisscom AG, will probably decline after JPMorgan, Chase & Co.
cut its recommendation on the stock. Swatch Group AG, the world's
largest watch maker, might rise after Deutsche Bank AG advised
investors to buy the shares.


Read more at Bloomberg Stocks News

European Government Bonds Set for 4th Monthly Drop on Growth, Rate Outlook

(Bloomberg) -- European government bonds are set to
drop for a fourth month as signs of quickening economic growth
and inflation underpin the case for further interest-rate
increases by the European Central Bank.

German bunds, Europe's benchmark, also headed for their
steepest quarterly loss in almost eight years, with 10-year
yields rising half a percentage point as the ECB raised its
lending rate to a six-year high and indicated further increases
are needed to curb inflation. ECB President Jean-Claude Trichet
has said borrowing costs are low enough to stimulate growth.


Read more at Bloomberg Bonds News

Malaysian Government Bonds Extend Rally on Offshore Demand; Ringgit Gains

(Bloomberg) -- Malaysian bonds rose on speculation
the ringgit will extend gains from a one-week high, boosting
overseas demand for local-currency debt.

Five-year yields dropped to the lowest in three weeks after
an auction of June 2012 notes yesterday attracted the most demand
in at least seven years. Government bonds have returned 0.9
percent this quarter, the third-best in Southeast Asia after
Indonesia and Thailand, according to indexes compiled by HSBC
Holdings Plc.


Read more at Bloomberg Bonds News

Apple's iPhone to hit stores, jolt mobile industry

(Reuters) - The product, which melds a phone, Web browser and media player, deepens Apple's transformation from a maker of stylish-but-niche computers into a consumer electronics powerhouse already known for its iPod music and video players.




The svelte, glassy iPhone is a gamble by Apple's co-founder and chief executive, Steve Jobs, aimed at expanding the market for the company's software and media services.


Read more at Reuters.com Business News

Travelers in JV talks with India's HDFC - source

(Reuters) - A HDFC spokesman declined comment.




"A high-level team from U.S. insurer Travelers is in town
to finalise a joint venture partner for non-life insurance,"
the Economic Times newspaper said in an unsourced report on
Friday, suggesting HDFC Chubb General Insurance Co. Ltd. could
be renamed after a new partner.


Read more at Reuters.com Mergers News

PTT's Pichai Says 2007 Sales, Profit May Decline as Thai Currency Gains

(Bloomberg) -- PTT Pcl, Thailand's biggest energy
company, said profit this year may fall from a record as gains in
the baht erode the value of its dollar-denominated sales of fuels
and petrochemicals.

The baht's 11 percent rise against the dollar in the past 12
months will pare profit because PTT calculates its revenue in U.S.
dollars and reports earnings in baht, Chief Financial Officer
Pichai Chunhavajira said. The Bangkok-based company will probably
post ``slightly better'' earnings in U.S. dollar terms, beating
last year's record sales and net income, he said.


Read more at Bloomberg Emerging Markets News

Japanese Stocks Advance; Ibiden, Toshiba Gain on Outlook for Profit Growth

(Bloomberg) -- Japanese stocks climbed, led by
auto-related shares on speculation global growth will spur
rising profits and after UBS AG lifted its stance on the
automotive parts industry.

Electronics makers advanced on expectations earnings will
rise after three brokerages issued reports touting their growth
potential and the yen weakened for a second day.


Read more at Bloomberg Stocks News

Value of U.S. IPOs surges 37 pct in first half '07

(Reuters) - The value of U.S. offerings in the first half of 2007 rose
37 percent compared with the same period a year ago, according
to preliminary data from research firm Dealogic.




The number of deals so far this year totaled 146, up from
116 in the same period a year ago, with the finance and
technology industries representing more than half of the
debuts, Dealogic said.


Read more at Reuters.com Mergers News

MFS Living, National Leisure, Tandou, Woodside: Australian Equity Preview

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

The S&P/ASX 200 Index futures contract due in September rose
0.4 percent to 6300 at 9:34 a.m. in Sydney. The Bank of New York
Australia ADR Index rose 2 percent in New York.


Read more at Bloomberg Stocks News

Japan's Bonds May Drop on Speculation Decline in Consumer Prices Slowing

(Bloomberg) -- Japan's 10-year bonds may fall on
speculation a government report today will show that the decline
in consumer prices is slowing, signaling inflation may soon take
hold.

Benchmark 10-year bonds may complete their biggest monthly
drop in more than a year as the report is forecast to show core
consumer prices excluding fresh food fell 0.1 percent in May
from a year earlier, according to a Bloomberg News survey.
Prices decreased 0.1 percent in April, slowing from a 0.3
percent drop in March.


Read more at Bloomberg Bonds News

UPDATE 1-Adept Technology to cut 15 pct jobs; shut plants

(Reuters) - Adept also said its Chief Financial Officer Steven Moore
will leave effective mid-July as he has accepted a position
with another company.




Adept has over 180 employees in offices worldwide,
according to the company's Web site.


Read more at Reuters.com Market News

UPDATE 1-Tibco quarterly profit down, shares fall

(Reuters) - The results fell short of Wall Street estimates and its
shares fell.




The maker of software that helps computer systems in large
corporate networks communicate with each other said it had
second-quarter profit excluding items of 7 cents a share.


Read more at Reuters.com Market News

UPDATE 1-American Home Mortgage pulls outlook on credit losses

(Reuters) - NEW YORK, June 28 - American Home Mortgage
Investment Corp. on Thursday withdrew its 2007 earnings
forecast, and will likely suffer a surprise second-quarter loss
as it takes "substantial" charges for soured loans.




The Melville, New York-based real estate investment trust,
which makes roughly 2.5 percent of all U.S. home loans, is one
of many lenders to suffer from rising losses as more homeowners
fall behind on payments.


Read more at Reuters.com Bonds News

REFILE-US STOCKS-Wall St ends flat after Fed statement; RIMM up

(Reuters) - NEW YORK, June 28 - U.S. stocks closed little
changed on Thursday, after the Federal Reserve said it sees
moderate economic growth over coming quarters but signaled it
remains concerned about inflation.




The Nasdaq ended slightly higher, boosted by
communications equipment and semiconductor stocks, which rose
after brokerage upgrades of Cisco Systems Inc. and
Intel Corp. .


Read more at Reuters.com Bonds News

Yen Heads for Biggest Quarterly Loss Against Dollar Since 2001 on Rate Gap

(Bloomberg) -- The yen headed for the biggest
quarterly loss against the dollar since 2001 before reports that
are forecast to show falling prices and slowing consumption in
Japan.

The data may raise speculation the Bank of Japan will
refrain from raising borrowing costs, encouraging investors to
look overseas to buy higher-yielding assets funded by loans in
yen, in a practice known as the carry trade. The yen has dropped
this quarter against all 16 major currencies tracked by
Bloomberg.


Read more at Bloomberg Currencies News

Canada's Dollar Advances Most in 3 Months on Oil Prices, Fed Rate Decision

(Bloomberg) -- The Canadian dollar advanced the
most since March on speculation an advance in crude oil will
lift the country's economic growth.

Commodities including oil make up about half of Canada's
exports. The Canadian currency remained higher after the U.S.
Federal Reserve kept its target rate at 5.25 percent and
stressed that inflation is its ``predominant'' concern.


Read more at Bloomberg Currencies News

US RATE FUTURES-Slip as Fed seen focused on inflation

(Reuters) - CHICAGO, June 28 - U.S. short-term interest rate
futures extended losses on Thursday after the Federal Open
Market Committee kept rates steady, as expected, but kept its
focus on the inflation outlook after a two-day meeting.




"The take-away point from the Fed statement is that the
easing of price pressures thus far has not been sufficient to
change the Fed's risk assessment," said Marc Chandler, senior
currency strategist at Brown Brothers Harriman in New York.


Read more at Reuters.com Bonds News

US STOCKS-Indexes rise after Fed rate decision

(Reuters) - The Dow Jones industrial average was up 57.79
points, or 0.43 percent, at 13,485.52 after briefly paring
gains immediately after the statement.




The Standard & Poor's 500 Index was up 7.69 points,
or 0.51 percent, at 1,514.03. The Nasdaq Composite Index
was up 19.18 points, or 0.74 percent, at 2,624.53.


Read more at Reuters.com Bonds News

Mexico Bolsa Gains on Tax Bill, Led by America Movil; Peru Stocks Advance

(Bloomberg) -- Mexican stocks rose for a second day as
investors speculated a tax bill will be modified to reduce levies
on business and gain support needed for passage.

The benchmark Bolsa index advanced 218.83, or 0.7 percent, to
31,023.04 as of 1:48 p.m. in New York, led by America Movil SAB,
Latin America's biggest mobile-phone company.


Read more at Bloomberg Stocks News

Corn Futures Decline as Cool, Wet Weather May Boost U.S. Crop Production

(Bloomberg) -- Corn in Chicago fell for a third
session this week as rains revive crops in the U.S. Midwest
threatened by unusually hot, dry weather earlier this month.

Fields from Missouri to Ohio may get up to an inch of rain
by tomorrow while the entire Midwest will see cooler weather
this weekend, according to Global Weather Monitoring in Mohawk,
Michigan. A storm may also bring up to 0.6 inch of rain after
July 4, keeping temperatures below normal, the forecaster said.


Read more at Bloomberg Commodities News

Martek says to sell fluorescent detection products unit

(Reuters) - Robert Flanagan, currently Martek's director, would replace
Linsert as chairman of the board, the company said. The deal is
expected to close by the end of June.





Read more at Reuters.com Mergers News

Kansas City Fed manufacturing index at 5-year low

(Reuters) - The index measures changes in plant production of both
durable and nondurable goods. A reading below zero indicates
contraction in production.




Rising gasoline and energy prices affected many of the 103
producers responding to the survey, which spanned Colorado,
Kansas, Nebraska, Oklahoma, Wyoming, New Mexico and Missouri,
said Chad Wilkerson, the economist compiling the index.


Read more at Reuters.com Bonds News

Soybeans Rise as Report Shows Climbing Demand for Cooking Oil, Animal Feed

(Bloomberg) -- Soybeans in Chicago rose for a third
time this week after a government report showed increased demand
for animal feed and vegetable oil made from the second-biggest
U.S. crop.

Processors including Bunge Ltd. converted 3.8 percent more
soybeans into feed and cooking oil last month than a year ago,
the Census Bureau said. Supplies of soybean oil fell 0.7 percent
to 3.266 billion pounds at the end of May from April and feed
inventories on May 31 dropped 8.6 percent to 277,581 tons from a
year earlier, the bureau said.


Read more at Bloomberg Commodities News

South African coal prices fall in line with swaps

(Reuters) - Prices of prompt loading South African coal cargoes dropped sharply on Thursday in line with weaker API4 paper values, traders and utilities said.

Prompt cargoes on Monday had been offered at $60.00-$60.50 a tonne FOB Richards Bay, basis 6,000kc/kg NAR against few bids.


Read more at Reuters Africa

Yamana, Northern Orion to combine, eyeing Meridian

(Reuters) - Yamana and Northern Orion said if they cannot reach an agreement with Meridian within 30 days, they will launch a joint tender offer aimed at acquiring 100 percent of its outstanding shares.




Meridian said on Thursday that it would not comment on the joint takeover bid until it receives a formal offer.


Read more at Reuters.com Bonds News

NASD fines four firms over mutual fund sales

(Reuters) - Class "B" and "C" shares typically do not carry up-front
sales charges, but often carry exit charges and higher annual
fees than Class "A" shares.




MML, NYLife and Securities America together agreed to
remediation plans covering at least 1,080 households and more
than 10,200 transactions.


Read more at Reuters.com Government Filings News

Most U.S. Stocks Gain, Led by Technology Companies; Monsanto Advances

(Bloomberg) -- Most U.S. stocks rose, led by
technology companies, after analysts upgraded Intel Corp. and
Cisco Systems Inc. on prospects for profit growth.

Monsanto Co., the world's biggest seed producer, gained
after earnings beat analyst estimates. About three stocks
advanced for every two that fell on the New York Stock
Exchange.


Read more at Bloomberg Stocks News

UPDATE 1-US court rejects race as factor in school programs

(Reuters) - WASHINGTON, June 28 - A bitterly divided U.S.
Supreme Court ruled on Thursday that race cannot be used to
decide where students go to school, one of the most important
civil rights rulings in years that could affect millions of
students nationwide.




By a 5-4 vote on the last day of its term, the court's
conservative majority struck down voluntary programs adopted in
Seattle and Louisville, Kentucky, to attain racial diversity in
public school classrooms.


Read more at Reuters.com Bonds News

Dillard's soars as unhappy shareholder seeks talks

(Reuters) - The New York-based firm said it requested talks after being unable to reach Chief Executive William Dillard by phone.




Julie Bull, a Dillard's spokeswoman, was out of the office and unavailable for immediate comment, a company representative said.


Read more at Reuters.com Business News

Florida firm launching air taxi service

(Reuters) - The goal, according to DayJet Corp., is to make the convenience of corporate jet travel -- once the preserve of top executives and the fabulously wealthy -- more widely available to the general public.




A new breed of planes known as "very light jets," which are cheaper and more fuel efficient than traditional corporate jets, has opened the door to mass-market possibilities.


Read more at Reuters.com Bonds News

Intel Upgraded to `Overweight' at Lehman Brothers on Semiconductor Outlook

(Bloomberg) -- Intel Corp. was upgraded to
``overweight'' from ``equal weight'' at Lehman Brothers, which
said a new series of semiconductors designed for laptop computers
may boost revenue and earnings growth.

The world's largest computer-chip maker may also benefit
from improving margins and a share price that is ``reasonable''
relative to the company's earnings, analyst Tim Luke wrote in a
note. Price cuts on the new chips, called Santa Rosa, that are
scheduled for later this year may increase demand, he wrote.


Read more at Bloomberg Stocks News

Milan Utility Aem Restores Electricity to 670 Customers Following Blackout

(Bloomberg) -- Aem SpA, Milan's municipal utility,
restored power to customers after a fault on a medium-voltage
cable cut the supply in central and southern areas of the city.

Electricity was cut to 670 clients between Vigentina in
southern Milan and one of the city's main shopping streets, Corso
Vittorio Emanuele, for about 40 minutes, a spokesman for Aem who
declined to be identified, said today.


Read more at Bloomberg Energy News

Brazil Real Gains Most in 2-Weeks on Central Bank's Higher Growth Forecast

(Bloomberg) -- Brazil's currency advanced the most
in two weeks after the central bank raised its economic growth
forecast for the year.

The economy will grow 4.7 percent this year, up from the
previous estimate of 4.1 percent, according to the central
bank's quarterly report on inflation released on its Web site
today.


Read more at Bloomberg Currencies News

Dollar up vs yen, down vs euro ahead of Fed

(Reuters) - The dollar was down against the euro but up against the yen on Thursday as investors awaited the outcome of a two-day Federal Reserve policy meeting later in the session.

The central bank is seen holding rates at 5.25 percent but its statement will be scrutinised for clues on future policy.


Read more at Reuters Africa

Unhappy Dillard's shareholder seeks talks

(Reuters) - Barington Capital Group LP, which said it owns more than 3.2 percent of Little Rock, Arkansas-based Dillard's shares, said it is seeking meetings with Chief Executive William Dillard and management to discuss merchandising, inventory management, cost controls, and measures to "unlock" value in the company's real estate portfolio. It said it requested talks after being unable to reach William Dillard by phone.



New York-based Barington said it has "substantial experience helping improve shareholder value" as an investor in other retail, apparel and footwear companies, including Maxwell Shoe, Nautica, Payless ShoeSource, Pep Boys, Steven Madden, Stride Ride, Syms and Warnaco.


Read more at Reuters.com Bonds News

U.S. Stock Futures Drop as Inflation Gauge Rises Faster Than Forecast

(Bloomberg) -- U.S. stock-index futures fell after
the government said a measure of inflation rose more than
forecast in the first quarter.

The Federal Reserve's preferred measure of inflation,
which strips out food and energy costs, rose at a 2.4 percent
annual rate, faster than the 2.2 percent previously estimated.
The government also said the economy grew at an annual rate of
0.7 percent in the first quarter, the slowest in four years.
The Commerce Department reports may signal that the Fed will
hold interest rates unchanged for months to come.


Read more at Bloomberg Stocks News

Inverness Medical gets FDA nod for malaria test device

(Reuters) - The drug maker said Januvia is the first and only medication in the class of drugs called dipeptidyl peptidase-4 inhibitors, which enhance the body's ability to lower blood sugar when it is elevated, to be adopted by the European Commission.






Read more at Reuters.com Government Filings News

Global rally sweeps FTSE up as commodities bounce

(Reuters) - The leading share index joined a rebound in global equities on Thursday by jumping 0.6 percent, hoisted by commodities shares and by expectations that the Federal Reserve will keep U.S. interest rates on hold.

Mining and oil shares jointly added more than 26 points to the index's upside as copper prices bounced back and oil edged higher on a drop in U.S. gasoline inventories.


Read more at Reuters Africa

Treasuries Are Little Changed as Fed Policy Makers Meet on Interest Rates

(Bloomberg) -- U.S. Treasuries were little changed
ahead of the Federal Reserve's interest-rate decision.

All 113 economists surveyed by Bloomberg News predict the
Fed will keep its key rate at 5.25 percent for an eighth time,
leaving Treasury yields below the central bank's benchmark.


Read more at Bloomberg Bonds News

Wall St set for firmer start before Fed decision

(Reuters) - The Federal Reserve's policy-setting committee meets for a second day on Thursday.




While the Fed is widely expected to hold benchmark interest rates steady at 5.25 percent, its statement will be scrutinized for clues on the central bank's next move on interest rates.


Read more at Reuters.com Business News

Czech Central Bank Leaves Key Rate at 2.75 Percent, Lowest Rate in the EU

(Bloomberg) -- The Czech central bank left its key
interest rate at the European Union's lowest level of 2.75
percent as it awaits a new economic forecast in July.

The policy-making board voted today in Prague to keep rates
unchanged, the central bank said on its Web site. The decision
was predicted by all 21 economists in a Bloomberg survey.


Read more at Bloomberg Emerging Markets News

Pound Gains Above $2 After Report Shows House Price Growth Has Quickened

(Bloomberg) -- The pound rose above $2 for the third
day this week as quickening U.K. house-price growth spurred
speculation the Bank of England will resume raising interest
rates to push inflation back below its target.

The pound rose to the highest since May 1 versus the dollar
after the Nationwide Building Society said U.K. property-price
inflation accelerated to a 2 1/2-year high. BOE Governor Mervyn
King, who told lawmakers this morning there have been signs the
U.K. economy may be slowing, was among the policy makers who
backed higher rates at the BOE's last meeting.


Read more at Bloomberg Currencies News

Gold recovers from 3-mth low on bargain hunting

(Reuters) - Tokyo gold futures also gained ground as the yen's three-day rally against the dollar fizzled and triggered a wave of short-covering.




Spot gold stood at $644.60/646.10 an ounce as of 0728 GMT, versus $642.50/644.00 in late New York. On Wednesday, it fell as low as $638.90, the lowest since March 14, as investors cashed in gold, amid worries over troubled U.S. mortgage securities.


Read more at Reuters.com Hot Stocks News

Dow Jones deal would let Murdoch fire editors: report

(Reuters) - Murdoch has bid $5 billion or $60 per share for Dow Jones, and he told Reuters on Wednesday final approval from the Bancrofts would come within two or three weeks, "or not at all."




None of the parties could immediately be reached for comment.


Read more at Reuters.com Business News

NEWSMAKER-Japan tests mettle of Steel Partners' Lichtenstein

(Reuters) - His combative U.S. hedge fund has invested in more than 300
companies, engaged in over 20 proxy fights, and taken control of
more than a dozen firms worldwide, but Japan is giving him a
headache.




Lichtenstein has become emblematic to the Japanese of Western
capitalists trying to the break into the boardroom and boost
shareholder profits at the expense of others such as employees,
suppliers and creditors.


Read more at Reuters.com Mergers News

U.K. FTSE 100 Index Climbs, Paced by BHP, British Land, Whitbread Shares

(Bloomberg) -- U.K. stocks advanced, paced by BHP
Billiton Ltd., British Land Co. Plc and Whitbread Plc.

The benchmark FTSE 100 Index rallied 37.4, or 0.6 percent,
to 6565 in London at 8:05 a.m. The FTSE All-Share Index added
23.25, or 0.7 percent, to 3387.01. Ireland's ISEQ Index rose
61.85 to 9298.65.


Read more at Bloomberg Stocks News

Cement Makers Advance After Chidambaram Says No Freeze on Material Prices

(Bloomberg) -- Shares of ACC Ltd. and rival Indian
cement makers surged after Morgan Stanley said prices may rise
on the finance minister's statement the government hasn't asked
companies to freeze rates and wouldn't interfere in setting them.

``Pricing power appears to have returned for the next six
to nine months for cement companies,'' Mumbai-based analyst
Akshay Soni at Morgan Stanley said in a note to clients today.
``With inflation easing, the government seems to have relaxed
their stance on cement pricing.''


Read more at Bloomberg Emerging Markets News