US SEC's country watch list draws fire

(Reuters) - U.S. securities regulators have stirred up a controversy with a new online tool that allows investors to search for companies with ties to countries the State Department has designated "state sponsors of terrorism."

Both business and humanitarian groups say the list, available on the U.S. Securities and Exchange Commission's Web site, is ill-conceived. The tool provides links to companies whose annual reports contain "some reference" to business related to Sudan, Syria, North Korea, Iran and Cuba.


Read more at Reuters Africa

Oil flat near 10-month high on Nigeria, U.S. demand

(Reuters) - London Brent crude for August delivery slipped 6 cents to $74.69 a barrel after touching a 10-month high of $74.93 on Thursday. Prices are now within sight of last year's all-time high of $78.65 on July 8.




U.S. crude dropped three cents to $71.78 a barrel, having touched $72.35 a day ago, the peak since late August.


Read more at Reuters.com Hot Stocks News

Oil flat near 10-month high on Nigeria, US demand

(Reuters) - Oil prices held firm near the previous day's 10-month high on Friday as threats in Nigeria added to fears that strong summer demand in the world's top consumer could quickly drain rising U.S. crude and fuel stocks.

London Brent crude for August delivery slipped 6 cents to $74.69 a barrel after touching a 10-month high of $74.93 on Thursday. Prices are now within sight of last year's all-time high of $78.65 on July 8.


Read more at Reuters Africa

Copper Little Changed in Asia as Labor Unrest Threatens Supply; Zinc Falls

(Bloomberg) -- Copper prices were little changed in
Asia as labor unrest in Latin America threatens to disrupt supply
and further deplete global stockpiles, which are at their lowest
in almost 11 months.

London Metal Exchange copper, the global benchmark, has
risen 5 percent since June 25, when contract workers at Chile's
state-owned Codelco, the world's biggest producer, began a strike
to protest for higher pay and bonuses. Still, gains are limited
by reduced demand during the northern hemisphere summer.


Read more at Bloomberg Commodities News

Aer Lingus Group, A-Tec, Givaudan, OMV, SAS Group: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 fell 0.7 percent to 394.93. The Dow
Jones Stoxx 50 Index declined 0.7 percent to 3948.25. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
decreased 0.7 percent to 4491.87.


Read more at Bloomberg Stocks News

Fed policy on target, inflation to ebb: Yellen

(Reuters) - "Upside risks to inflation continue to be present, given the possibility that labor markets are somewhat tight," Yellen said in remarks prepared for delivery by videoconference to a risk management conference in Singapore.




"However, it is also essential that policy retain considerable flexibility in responding to emerging data."


Read more at Reuters.com Business News

Treasuries Little Changed; Increase in June Jobs Report May Boost Spending

(Bloomberg) -- U.S. 10-year Treasury yields held near
a two-week high before a government report that economists say
will show jobs growth is strong enough to keep the Federal
Reserve from cutting interest rates.

The notes may extend yesterday's biggest loss in three weeks
after private reports showed U.S. employment increased and growth
in services industries quickened. Janet Yellen, head of the Fed
Bank of San Francisco, said economic indicators have been
``robust,'' including ``steadily'' increasing payrolls, in a
speech via satellite to a conference in Singapore.


Read more at Bloomberg Bonds News

UPDATE 2-Parametric sales miss, company cuts outlook

(Reuters) - The company said that it expects to post revenue of $225
million for the fiscal third quarter, which ended on June 30.
Previously, it had told investors to expect revenue of $235
million to $240 million.




Parametric also said that it expected third-quarter profit
to fall short of its previously announced forecasts, but did
not provide specific estimates.


Read more at Reuters.com Market News

UPDATE 2-US hearings to eye private equity, hedge funds

(Reuters) - WASHINGTON, July 5 - Three U.S. congressional
panels plan to examine private equity firms and hedge funds at
separate hearings next Wednesday, turning a spotlight on an
industry that some lawmakers think should pay sharply higher
taxes.




The vast wealth amassed in recent years by private equity
and hedge fund managers is drawing lawmakers' attention like
never before, with the Senate Finance Committee set to look
into raising taxes on managers' "carried interest" pay.


Read more at Reuters.com Mergers News

AU, China Power, Hindustan Copper, Jollibee: 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.

AU Optronics Corp. (2409 TT): The world's third-largest
maker of flat-panel displays used in computers and televisions
said June sales rose 112.3 percent from a year earlier to NT$38.9
billion ($1.2 billion), the company said in a statement to the
Taiwan Stock Exchange. AU climbed 40 cents, or 0.7 percent, to
NT$56.70.


Read more at Bloomberg Stocks News

UPDATE 1-Mexico's ICA wins road contract, to invest $300 mln

(Reuters) - ICA said the contract was for 70 miles
of highway between the cities of Rio Verde and Ciudad
Valles in the state of San Luis Potosi.




The contract was to operate two existing highways and to
build and operate a 43 mile long road connecting between them.


Read more at Reuters.com Market News

Argentina stocks dip after record high, bonds down

(Reuters) - The MerVal index of 21 leading stocks fell 0.23
percent to end at 2,247.15 points, one day after closing at an
all-time high of 2,256.29 points.




"We had logical profit taking. The MerVal's level of 2,250
points has been a strong resistance for some time and proof of
that is that today we had high volume and still couldn't go
above it," said Antonio Cejuela, anlayst with Puente Hermanos
brokerage in Buenos Aires.


Read more at Reuters.com Bonds News

US STOCKS-Nasdaq rises on Apple, economic data

(Reuters) - NEW YORK, July 5 - The Nasdaq Composite rose on
Thursday as technology shares benefited from
stronger-than-expected economic data and Apple Inc.
shot to a record on expectations of strong sales momentum for
its iPhone.




But rising bond yields were a damper on the broader market,
leaving the Dow industrials and S&P 500 barely changed on the
day.


Read more at Reuters.com Bonds News

SAC Capital reports 5.2 pct stake in Six Flags

(Reuters) - The filing did not say when SAC bought the shares or the
price. It also did not reveal the purpose of the transactions.




Read more at Reuters.com Government Filings News

UPDATE 1-H&R Block falls as mortgage unit loses credit line

(Reuters) - NEW YORK, July 5 - Tax preparer H&R Block Inc.
said the subprime mortgage unit it is selling has lost
a credit line, cutting its borrowing capacity closer to the
minimum needed to complete the sale of the money-losing
business.




The news sent H&R Block shares down 2.1 percent. Investors
have been hoping H&R Block will complete its sale of Option One
Mortgage Corp. to private equity firm Cerberus Capital
Management LP [CBS.UL] so that it can focus on other operations
including tax preparation, its largest and most profitable
business.


Read more at Reuters.com Mergers News

Longs Drug June same-store sales rise 1.3 percent

(Reuters) - Longs, which operates stores on the U.S. West Coast and in Hawaii, said total sales from continuing operations rose 3.5 percent to $464 million. Same-store pharmacy sales rose 1.5 percent while same-store sales of general, or "front-end" merchandise, rose 1.1 percent.



) Keywords: LONGS SALES/


Read more at Reuters.com Market News

JRI to sell 2 grain elevators in Saskpool deal

(Reuters) - The Competition Bureau said JRI must sell elevators at
Glossop and Swan River, Manitoba, as part of that arrangement.




The regulator said Saskpool has completed the sale of nine
other elevators and a port terminal to Cargill Ltd., the
country's third-largest grain company.


Read more at Reuters.com Mergers News

RIM shares hit year highs on outlook, China

(Reuters) - The shares were extending a rally that began last week after Waterloo, Ontario-based RIM reported a surge in first-quarter revenue and an adjusted profit on Thursday that soundly beat expectations. It also said it would split its shares on a three-for-one basis.




The following day, analysts heaped praise on the company and the stock continued rising.


Read more at Reuters.com Hot Stocks News

Sugar Rises to One-Week High on Speculation Ukraine Drought to Cut Supply

(Bloomberg) -- Sugar rose to a one-week high on
speculation that dry weather in Ukraine will curb the country's
sugar-beet production.

Ukraine has lost 780,000 hectares (1.9 million acres) of
planted grain area to a three-month drought. Ukraine, the
world's biggest exporter of barley, said June 21 the drought
will result in the smallest grain harvest in four years.


Read more at Bloomberg Commodities News

UPDATE 1-Dura Automotive to sell Atwood unit for $160 mln

(Reuters) - The deal, which needs U.S. Bankruptcy Court approval and is
subject to auction should competing bids emerge, would be a key
step in Dura's restructuring, the company said in a statement.
Dura hopes to exit bankruptcy in the fourth quarter.




Dura said Atwood Acquisition LLC, an affiliate of private
equity firm Insight Equity, expects to complete the deal by the
end of August.


Read more at Reuters.com Bonds News

Mexico markets edge lower as hopes of Fed cut fade

(Reuters) - In the debt market, the price of the benchmark government
10-year peso bond slipped 0.191 point to bid
102.039, pushing its yield up 3 basis points to 7.67 percent.




ADP Employer Services said U.S. private employers likely
added more jobs in June than analysts had expected, while the
Institute for Supply Management's services index for June came
in above forecast at its highest level since April 2006.


Read more at Reuters.com Bonds News

UPDATE 2-Hilton would pay $560 mln Blackstone break-up fee

(Reuters) - NEW YORK, July 5 - Hilton Hotels Corp. said on Thursday that it would pay Blackstone Group LP $560 million if it receives a better offer and terminates a takeover agreement with the private equity company.



Blackstone, which agreed to buy Hilton for about $20 billion plus debt, would pay Hilton $660 million if it backs out of the deal, Hilton said in a filing with the U.S. Securities and Exchange Commission.


Read more at Reuters.com Mergers News

Treasuries Drop Most in Three Weeks on Hiring Gains, Growth in Services

(Bloomberg) -- Treasuries declined the most in three
weeks after private reports showed the U.S. added more jobs last
month than economists forecast and services industries
unexpectedly accelerated.

Demand for U.S. government debt fell as the risk of holding
European corporate bonds dropped and concern over terrorist
incidents in the U.K. eased. A Labor Department report tomorrow
may increase speculation a stronger job market is increasing the
risk inflation will accelerate.


Read more at Bloomberg Bonds News

Italian Stocks Fall on Rate Concerns, Paced by Intesa Sanpaolo Shares

(Bloomberg) -- Italian stocks fell for the first time
in six days, led by Intesa Sanpaolo SpA, Italy's second-biggest
bank, on concerns interest rates will keep rising.

Alitalia SpA declined after Il Sole/24 Ore reported that
some of the banks funding Air One's bid for the national carrier
may drop out of the group.


Read more at Bloomberg Stocks News

UPDATE 1-Canada purchasing activity jumps in June-Ivey

(Reuters) - The index, the joint project of the Purchasing Management
Association of Canada and the Richard Ivey School of Business,
rose to 67.4 in June from 62.7 in May.




A reading of 50.0 indicates that activity remained flat
from the preceding month, while a higher reading indicates an
increase and a lower reading reflects a slowing or decrease.


Read more at Reuters.com Economic News

Ecuador President Correa Doesn't Rule Out Debt Moratorium, Efe Reports

(Bloomberg) -- Ecuadorean President Rafael Correa
said he doesn't rule out a ``unilateral moratorium'' or an
``aggressive renegotiation'' of the country's foreign debt, Efe
reported.

Correa said in an interview the government has serviced its
debts since he took office in January because it has had the
money, Efe reported. He said his government could halt interest
payments or renegotiate the debt at any moment should the country
run short of funds, Efe reported.


Read more at Bloomberg Emerging Markets News

High prices curb S.African Internet growth - survey

(Reuters) - The number of South Africans with Internet access will rise by just 3 percent in 2007 due to high tariffs, but stiffer competition in the broadband market will boost connectivity by 2010, a survey showed on Thursday.

Technology consultancy World Wide Worx said about 3.85 million people -- just one in 12 South Africans -- were expected to have access to the Internet by the end of 2007, up from 3.73 million last year.


Read more at Reuters Africa

White Sugar Prices Rise to One-Month High on Speculation Iraq Will Buy

(Bloomberg) -- White sugar futures advanced for a
third consecutive day in London to the highest in a month on
speculation Iraq may have placed an order to import the
sweetener.

``There is talk that they are buying beans, sugar and
foodstuffs,'' Elizabeth Miller, director of research at
RedTower, said in an interview from Aberdeen, Scotland. ``It has
helped the sugar market.''


Read more at Bloomberg Commodities News

E.ON Says Revenue From Emissions-Permits Sales Should Be Used to Cut Taxes

(Bloomberg) -- E.ON AG, Germany's biggest power
utility, said revenue from auctions of European Union carbon
dioxide permits should be used to curb energy taxes.

A German decision this year to auction some permits instead
of giving them all away for free was a ``step in the right
direction,'' E.ON said today in an e-mailed statement. ``Uniform
auctioning must be introduced throughout Europe.''


Read more at Bloomberg Energy News

Partner Communications served lawsuit alleging over-billing

(Reuters) - If the lawsuit is certified as a class action, the total
amount claimed from Partner is estimated to be about 1.5
billion shekels by the plaintiff, it added.








Read more at Reuters.com Government Filings News

European Government Bonds Drop as Trichet Says ECB Rates `Accommodative'

(Bloomberg) -- European bonds fell for a third day
after European Central Bank President Jean-Claude Trichet
signaled the ECB will raise interest rates further this year.

Yields on the 10-year bund rose to the highest since June 25
as Trichet said inflation needs ``careful monitoring'' after the
central bank kept borrowing costs at 4 percent today. Investors
increased bets policy makers will lift rates as much as half a
percentage point by year-end, futures trading shows.


Read more at Bloomberg Bonds News

Jones Apparel gets higher rival bid for Barneys

(Reuters) - PHILADELPHIA, July 5 - Jones Apparel Group Inc. said on Thursday it received an unsolicited bid from Fast Retailing Co. Ltd. to acquire Barneys New York Inc. for $900 million, which tops Jones' existing pact to sell the upscale clothing chain for $825 million.



Jones said it will provide financial information and enter negotiations with Fast Retailing, a Japanese clothing company. Jones' agreement to sell Barneys to Dubai-owned private equity firm Istithmar remains in effect, however.


Read more at Reuters.com Bonds News

Canadian Bank Stocks Fall, Led by Scotia Bank; Petro-Canada Shares Advance

(Bloomberg) -- Canadian financial shares declined, led
by Bank of Nova Scotia and Manulife Financial Corp.

Shares of such energy producers as Petro-Canada advanced,
keeping the Standard & Poor's/TSX Composite Index little changed.
The S&P/TSX slipped 5.96, or less than 0.1 percent, to 14,054.43 as
of 9:50 a.m. in Toronto.


Read more at Bloomberg Stocks News

KKR Earns Half as Much as Schwarzman's Blackstone Before $1.25 Billion IPO

(Bloomberg) -- Kohlberg Kravis Roberts & Co., whose
funds control companies with more than $100 billion in annual
revenue and 560,000 employees, earned half as much as its largest
competitor, Blackstone Group LP.

KKR, which announced plans this week to raise about $1.25
billion in an initial public offering, reported net income of
$1.1 billion in 2006, trailing Blackstone's $2.3 billion,
according to a filing with the U.S. Securities and Exchange
Commission.


Read more at Bloomberg Bonds News

German Stocks Fall, Paced by TUI, Lufthansa; Air Berlin Surges on Ryanair

(Bloomberg) -- Germany's benchmark DAX Index dropped
for the first day in three as investors grew concerned central
banks will raise interest rates further.

Stocks sensitive to the oil price including TUI AG and
Deutsche Lufthansa AG dropped after crude oil rose to a 10-month
high in New York. Deutsche Telekom AG fell after a report said
it's struggling to find a partner for its T-Systems unit.


Read more at Bloomberg Stocks News

Bank of England Raises Benchmark Interest Rate Fifth Time to 5.75 Percent

(Bloomberg) -- The Bank of England raised its
benchmark interest rate for the fifth time in a year as
accelerating economic growth and surging house prices kept
inflation above target.

The nine-member Monetary Policy Committee, led by Governor
Mervyn King, increased the bank rate by a quarter-point to 5.75
percent, the highest since April 2001, the central bank said
today in London. The decision was expected by 53 of 60 economists
surveyed by Bloomberg News. The remainder forecast no change.


Read more at Bloomberg Bonds News

UBS, Barclays Can't `Wash Hands' of Subprime Mortgages, CreditSights Says

(Bloomberg) -- UBS AG, Barclays Plc and other
European lenders may not be able to ``wash their hands'' of the
special firms they set up to issue U.S. mortgage-backed bonds and
collateralized debt obligations, CreditSights Inc. said.

European institutions may support the so-called special-
purpose entities, even though they were designed to have no
recourse to the banks in the event of losses, such as those
stemming from the slump in the subprime market, analyst Simon
Adamson in London said.


Read more at Bloomberg Bonds News

Thai Baht Rises to September 1997 High on Inflows: World's Biggest Mover

(Bloomberg) -- Thailand's baht rose beyond 34 to the
dollar for the first time since 1997 on speculation overseas
investors increased purchases of stocks as the market rallied to
a decade-high.

The baht gained as much as 0.7 percent, the biggest
fluctuation of any currency today, reaching levels not seen since
the Asian financial crisis. The currency's appreciation beyond 36
was the trigger for restrictions on foreign investment in
December. Bank of Thailand Governor Tarisa Watanagase today said
the bank was ``working'' to curb the rise, without detailing
whether it plans to weaken the baht.


Read more at Bloomberg Currencies News

Rotterdam's Vopak Sells Out of Ship Fuel After Demand Surges, Traders Say

(Bloomberg) -- Rotterdam's largest oil-storage unit
sold out of fuel that's used to power ships after demand at the
facility surged last month, two traders said.

There are no so-called bunker-grade supplies from the Vopak
terminal, Robin van Elderen, a Rotterdam-based trader at Frisol
BV, said today by e-mail. Buyers will have to use the nearby
Argos facility instead, Bart Joon, a trader in Rotterdam at
World Fuel Services Corp., the biggest broker of the fuel, said
by e-mail.


Read more at Bloomberg Energy News

U.K. Power Declines on Expected Decline in Demand, Lower Price in France

(Bloomberg) -- U.K. power for delivery a day ahead
fell on forecasts for lower demand before the weekend and a
decline in the equivalent price in France.

U.K. day-ahead baseload power dropped 7.3 percent to 21.10
pounds ($42.55) a megawatt hour, according to prices on
Bloomberg from the broker GFI Group Inc. Baseload power is
delivered round the clock.


Read more at Bloomberg Energy News

European Stocks Drop; Vodafone, Iberdrola, Deutsche Telekom Lead Decline

(Bloomberg) -- European stocks fell for the first
time in three days, led by phone companies and utilities, on
concern rising interest rates will weigh on earnings.

Vodafone Group Plc, the world's biggest mobile-phone
company, and Spanish utility Iberdrola SA paced the decline.
Deutsche Telekom AG dropped after a report Europe's largest phone
company is struggling to find a partner for its T-Systems
computing-services division.


Read more at Bloomberg Stocks News

Asian Equities Advance to a Record, Led by Samsung; China's Shares Tumble

(Bloomberg) -- Asian stocks climbed for a sixth day,
buoyed by rising prices of computer chips and metals. China's CSI
300 Index tumbled on concern new share sales will drain as much as
$40 billion from the market.

Samsung Electronics Co., the world's biggest computer memory
maker, jumped after Citigroup Inc. said it expected some chip
prices to rise. BHP Billiton Ltd. advanced after prices of copper
and lead rose.


Read more at Bloomberg Stocks News

Chicago Wheat Futures Jump After Egypt Purchase; Soybeans, Corn Increase

(Bloomberg) -- Wheat futures in Chicago jumped after
Egypt, the world's biggest importer of the grain, bought from the
U.S. and amid speculation that this month's lower prices may
attract more buyers. Soybean and corn futures also gained.

Egypt's General Authority for Supply Commodities purchased
175,000 metric tons of wheat in a tender, Undersecretary and
Deputy Chairman Nomani Nomani said yesterday. Of the total, the
country bought 115,000 tons of U.S. soft red winter wheat and
60,000 tons of Russian wheat, he said.


Read more at Bloomberg Commodities News

UPDATE 3-San Miguel, Kirin in talks on National Foods

(Reuters) - MANILA/TOKYO July 5 - Southeast Asia's largest
food and beverage group, San Miguel , is in talks to
sell a stake in Australia's National Foods Group, its biggest
overseas business, to Kirin Holdings as it seeks
funding for a shift into heavy industry.




San Miguel and Japan's second-largest brewer
confirmed on Thursday they were in preliminary negotiations.
Kirin is a longtime partner of San Miguel and owns 20 percent
of the Philippine group.


Read more at Reuters.com Bonds News