U.K. Pound May Rise Against Dollar on Outlook for Rates in U.K., U.S.

(Bloomberg) -- The pound may gain against the
dollar on speculation the Bank of England will keep raising
interest rates while the Federal Reserve stays on hold.

The U.K. currency rose to a 26-year high against the dollar
last week after Moody's Investors Service and Standard & Poor's
warned about bonds backed by U.S. subprime mortgages, suggesting
a housing slowdown will worsen. The pound may be further buoyed
before a report tomorrow that's forecast to show that U.K.
inflation exceeded the BOE's 2 percent target for 14 months.


Read more at Bloomberg Currencies News

India's Bonds Gain on Speculation Surplus Cash to Boost Demand for Debt

(Bloomberg) -- India's 10-year bonds rose on
speculation an increase in spare cash in the banking system will
boost demand for debt.

Yields, which move inversely to prices, dropped to near the
lowest in more than four months after a drop in interbank
lending rates and an increase in banks' bids to lend to the
central bank suggested there's more surplus cash. Bonds may also
gain on optimism slowing inflation and loan growth will allow
the central bank to refrain from raising interest rates.


Read more at Bloomberg Bonds News

Corrected: Oil hovers at 11-month high on supply worries

(Reuters) - U.S. crude for August delivery was 6 cents higher at $73.99 a barrel -- a fresh 11-month high and getting nearer the record high of $78.40 set in July 2006.




Analysts and traders said oil prices are likely to creep higher on bullish demand sentiment and as political tensions in major producers Iran and Nigeria continue to persist.


Read more at Reuters.com Hot Stocks News

Asian Stocks Are Little Changed Near Record; Woodside Gains, Samsung Drops

(Bloomberg) -- Asian stocks were little changed as
gains in energy-related shares, driven by crude oil prices
trading near an 11-month high, offset concern that a recent
technology rally more than reflects industry earnings prospects.

Woodside Petroleum Ltd., Australia's second-largest oil and
gas producer, and Keppel Corp., the world's No. 1 builder of oil
rigs, rose. Samsung Electronics Co. fell the most in a year
after memory-chip prices posted the biggest drop in two weeks.


Read more at Bloomberg Stocks News

Asia shares ease

(Reuters) - Japanese financial markets were closed for a public holiday, Marine Day, but data showing improved U.S. consumer sentiment sparked optimism that shipments to the region's top export market would stay strong, limiting regional losses.




The improved consumer sentiment numbers on Friday took the sting out of a report showing a slump in U.S. retail sales. But many investors remain cautious heading into earnings season.


Read more at Reuters.com Hot Stocks News

Copper Futures in Shanghai Advance After LME-Monitored Stockpiles Decline

(Bloomberg) -- Copper prices in Shanghai gained
after global stockpiles tracked by the London Metal Exchange
dropped to their lowest in almost a year.

Inventories tracked by the world's largest metals exchange
fell for a 14th straight day on July 13 to 97,550 tons, the
exchange said. That's the lowest level since July 31, 2006.


Read more at Bloomberg Commodities News

Asian Stocks Rise to a Record; Hyundai Motor, Woodside Petroleum Advance

(Bloomberg) -- Asian stocks rose for a third day,
driving a regional benchmark to a record. Hyundai Motor Co. led
South Korean automakers higher after Meritz Securities Co.
lifted its price estimate for the stock, citing earnings.

Woodside Petroleum Ltd., Australia's second-largest oil and
gas producer, climbed as crude futures contracts traded near an
11-month high. Samsung Electronics Co. slid after prices of
computer memory chips fell by the most in two weeks.


Read more at Bloomberg Stocks News

France, Germany seek to resolve splits over EADS

(Reuters) - Rivalry between French and German camps inside Europe's
biggest aerospace and defense group is widely blamed for delays
to the world's largest airliner, the Airbus A380 superjumbo,
and has strained the two nations' political and economic
relations.




Despite the pressing problems facing the group, Germany
appeared to be resisting French attempts to push through a
speedy management shake-up.


Read more at Reuters.com Business News

LA cardinal apologizes, offers record abuse deal

(Reuters) - LOS ANGELES, July 15 - The leader of the largest
U.S. Roman Catholic archdiocese apologized on Sunday for what
he called a "terrible sin and crime" as the church confirmed it
would pay a record $660 million to people who were sexually
abused by priests.




Facing trial on Monday over abuse allegations dating as far
back as the 1940s, the Archdiocese led by Cardinal Roger Mahony
agreed to pay 508 victims the largest-ever group settlement.


Read more at Reuters.com Bonds News

Rediff.com shares are overpriced - Barron's

(Reuters) - By some estimates Rediff's market capitalization is more
than 13 times the entire Indian online advertising market, from
which the majority of its revenues are earned, Barron's said.




Barron's also said Rediff's grip on its market seems to be
slipping as Web giants Google Inc. and Yahoo Inc.
get a foothold in India.


Read more at Reuters.com Mergers News

WEEKAHEAD-Emerging debt to remain supported by inflows

(Reuters) - Emerging markets survived practically unscathed by the last
bout of subprime volatility last week, which led yield spreads
between emerging debt and U.S. Treasury notes to widen by 12
basis points in a single day, to 174 basis points.




Emerging debt spreads, considered to be an important gauge
of risk aversion, closed at 169 basis points on Friday, 8 basis
points wider for the week, but the overall market still posted
slightly positive returns of 0.3 percent in the period,
according to the benchmark EMBI+ index .


Read more at Reuters.com Bonds News

CORRECTION: France hopes to get EADS deal

(Reuters) - PARIS/BERLIN - France hopes to be able to announce an agreement about a simplified management structure for European defense group EADS at a summit meeting on Monday, but Germany is in no hurry to strike a deal.




"We have not finished yet," an official at the Elysee presidential palace said on Sunday. "But we are rather optimistic about the outcome of our discussions with Daimler, Lagardere and the German state," he added.


Read more at Reuters.com Business News

Egypt median o/n interbank steady at 8.752 pct

(Reuters) - The median overnight interbank rate on Egypt's pound was steady on Sunday at 8.752 percent, the same as on Thursday, as banks squared their positions toward the end of a two-week reserve ratio period, dealers said.

"This is a periodic trend, especially as the market is still very liquid," one dealer said.


Read more at Reuters Africa