UPDATE 3-Key Bancroft trust voting structure may change -WSJ

(Reuters) - Overseers of the trust include Christopher Bancroft, a
prominent family member who has opposed the deal, and a
restructuring could reduce his influence over the stock held in
it, the paper said. The fund, the biggest Bancroft trust, has
13.3 percent voting power in Dow Jones, it said.




Two of the four main beneficiaries of the trust are in
favor of a sale, the paper said, citing unnamed sources. If
Bancroft turned down the offer against their wishes, he might
expose himself to litigation. Splitting up the trust would
allow him to vote his shares against the deal, while his
relatives' shares could go in its favor, it said.


Read more at Reuters.com Mergers News

Asian Stocks Fall in U.S., Giving Shares Biggest Weekly Loss Since March

(Bloomberg) -- Asian stocks trading in the U.S.
fell, completing their biggest weekly drop in more than four
months. Chartered Semiconductor Manufacturing Ltd. slipped after
posting its first loss in seven quarters.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, lost 0.8 percent to
164.78. For the week, the measure declined 3.8 percent, the most
since the period ended March 2.


Read more at Bloomberg Stocks News

Mannatech sees lower Q2 earnings

(Reuters) - The company had reported earnings of 31 cents a share on
revenue of $104.8 million in the year-ago quarter.





Read more at Reuters.com Market News

Horsehead sets IPO at 5.55 mln shares, $18-$20

(Reuters) - The company plans to sell about 4.17 million shares and
selling stockholders will offer another 1.38 million shares,
the Monaca, Pennsylvania-based company said.




It is seeking a Nasdaq listing under the symbol "ZINC"
.


Read more at Reuters.com Bonds News

Centerra Gold second-quarter profit falls 36 pct

(Reuters) - Centerra earned $18.6 million, or 9 cents a share, compared
with a profit of $29 million, or 13 cents a share, in the
year-before period.




Read more at Reuters.com Market News

Fuel Systems finds error in past option grant dates

(Reuters) - Fuel Systems added that since the review has not been
concluded, the amount of charges, the resulting tax and
accounting impact, and the specific periods that require
restatement cannot be determined with certainty.





Read more at Reuters.com Market News

UPDATE 2-Mexico silver miner Penoles Q2 profit up 16.2 pct

(Reuters) - Penoles , the world's top maker of refined
silver, said second-quarter sales totaled 11.247 billion pesos,
up 6.3 percent from the same period last year on higher volumes
and strong metals prices.




Costs rose in the quarter because of more expensive labor
and maintenance and repairs, Penoles said.


Read more at Reuters.com Market News

Analysts undecided on GAP CEO with no apparel ties

(Reuters) - Concerns that incoming chief executive Glenn Murphy lacks apparel experience were high in the minds of apparel analysts on Friday. Still, shares of Gap rose nearly 5 percent in afternoon trade, helped by Citigroup raising the company's stock rating to "buy" from "hold."




On Thursday, Gap said it had appointed Murphy, a 45-year-old Canadian who most recently served as CEO of Toronto-based Shoppers Drug Mart to lead the operator of the Gap, Old Navy and Banana Republic clothing chains.


Read more at Reuters.com Business News

Treasuries Head for Biggest Weekly Gain Since March Amid Risk Aversion

(Bloomberg) -- Treasuries are headed for the
biggest weekly advance in four months as the slump in U.S.
housing drives investors from riskier assets for a third week.

Investors seeking the safety of government debt this week
pushed yields on two-year notes, most sensitive to changing
monetary policy, 71 basis points lower than the Federal
Reserve's target rate. The risk of owning corporate bonds soared
to a record on concern that banks and hedge funds face widening
losses on subprime mortgages and leveraged buyouts.


Read more at Bloomberg Bonds News

Corn Futures Rise as Warmer, Drier Weather May Harm U.S. Midwest Crops

(Bloomberg) -- Corn rose for a fourth straight
session in Chicago as warmer, drier weather next week in the
U.S. Midwest threatens crops.

Rain that moved into Illinois today missed some of the
driest areas of Minnesota, Iowa, Michigan, North Dakota and South
Dakota, said Mike Tannura, a meteorologist for T-Storm Weather in
Champaign, Illinois. Warmer, drier weather is expected next week
as corn plants begin making starch and sugar for kernels, Tannura
said.


Read more at Bloomberg Commodities News

Sepracor results miss; stock plunges

(Reuters) - Net profit fell to $6.1 million, or 5 cents a share, from $11 million, or 10 cents a share, a year ago. Analysts had on average expected earnings of 36 cents a share, according to Reuters Estimates.




Revenue rose a less-than-expected 5 percent to $278.1 million, with sales of insomnia drug Lunesta growing just 3 percent to $143.0 million as it struggled to fight off competition from a generic version of rival Ambien.


Read more at Reuters.com Business News

Bolivian splits exposed by move to shift capital

(Reuters) - The idea to shift the seat of government from bustling La
Paz high in the Andes mountains to slower, colonial Sucre
emerged during discussions at an assembly rewriting Bolivia's
constitution.




The issue -- reflecting regional disparities, rivalries and
historical roles -- has sparked demonstrations, including one
in La Paz of at least 1 million people.


Read more at Reuters.com Bonds News

Rand Has Biggest Weekly Decline in Five Months on Emerging-Market Slump

(Bloomberg) -- South Africa's rand had its biggest
weekly slide against the dollar in almost five months as global
stocks slumped and investors sold emerging-market assets.

The rand also dropped against the yen and the Swiss franc
as investors sold South African stocks and bonds to unwind so-
called carry trades. Government debt declined for a third week
as traders raised cash to pay back loans in yen and francs used
to fund purchases of emerging-market securities.


Read more at Bloomberg Currencies News

Cuba's current account back in the red in 2006

(Reuters) - The data, posted on the Web site of the National Statistics
Office, showed the current account deficit in 2006 reversed a
$140.2 million surplus in 2005, a year when the trade deficit
was a smaller $5.234.6 billion.




The data did not provide a reason for the current account
going into deficit.


Read more at Reuters.com Bonds News

UPDATE 1-Fed's Lacker-early education key for econ growth

(Reuters) - "My position is that if government is going to invest in
education at all, it should invest in enhancing early childhood
development," Lacker told a conference on early childhood
development in Richmond, Virginia. "For me, this is an economic
growth issue."




Lacker did not comment on the current economic outlook or
monetary policy in his remarks nor in a question and answer
session later at the conference.


Read more at Reuters.com Bonds News

Gemstar-TV Guide profit rises 42 percent

(Reuters) - Second-quarter net income was $20.8 million or 5 cents per share, compared with $14.6 million or 3 cents per share a year before. Revenue rose 17 percent to $155.6 million.




Analysts, on average, had expected earnings of 4 cents per share and revenue of $149.4 million, according to Reuters Estimates.


Read more at Reuters.com Business News

Brazilian Real Gains For First Time in Four Days Amid U.S. Growth Optimism

(Bloomberg) -- Brazil's real rose for the first
time in four days as stronger-than-forecast U.S. growth eased
concern that worsening credit markets will prompt investors to
avoid emerging market securities.

``The data came as a relief, especially because it showed
construction activity is strong,'' said Joao Prado, a fixed-
income options trader at Agora Corretora, a brokerage in Rio de
Janeiro.


Read more at Bloomberg Currencies News

Platinum ETFs fail to stir market, seen supportive

(Reuters) - Platinum exchange-traded funds (ETFs) have failed to boost the thinly-balanced market or attract huge investment in the first three months, but will continue to underpin prices in the long run, analysts say.

The trading rule of 'buy the rumour, sell the fact' has been true for the metal, with prices setting historic highs in November on mere talk of an ETF launch but hovering in a broad range below the peak after their listings in April and May.


Read more at Reuters Africa

Bush says U.S., world economy strong

(Reuters) - He called the U.S. economy "large, flexible and
resilient."




Read more at Reuters.com Bonds News

European Bonds Head for Longest Run of Weekly Gains in Five Months on Risk

(Bloomberg) -- European bonds headed for a third
week of gains, the longest run in almost five months, as traders
switched to the safety of government debt after stocks plunged
around the world.

The rally in bonds pushed 10-year yields to near the lowest
since May as the risk of owning company debt surged to a record.
A gauge of corporate borrowing costs reached the highest since
October 2001 after hedge funds and banks reported losses on
investments backed by U.S. subprime mortgages.


Read more at Bloomberg Bonds News

GM's Allison, Aisin Seiki to end joint venture

(Reuters) - GM in June agreed to sell the Allison Transmission unit for
$5.6 billion to private equity firms Carlyle Group [CYL.UL] and
Onex Corp. .




Read more at Reuters.com Mergers News

Sepracor cuts 2007 view on competition, payments

(Reuters) - In April, the company said it expected 2007 earnings per
share of $2.11, excluding one-time items.




The company said it now expects 2007 revenue of $1.23
billion to $1.3 billion. Previously the company forecast
revenue of $1.43 billion to $1.49 billion.


Read more at Reuters.com Market News

Medco profit rises 26 percent, led by generics

(Reuters) - Net income rose to $214.9 million, or 76 cents per share, from $170.9 million, or 56 cents per share, a year earlier.




Excluding special items, earnings were 86 cents per share. Analysts on average expected 77 cents, according to Reuters Estimates.


Read more at Reuters.com Hot Stocks News

Angola cuts GDP growth forecast for 2007

(Reuters) - Angola has cut its economic growth forecast for 2007 to 19.8 percent from 31.2 percent, reflecting a drop in oil revenue and appreciation of its currency, the Kwanza, the state-run Jornal de Angola said on Friday.

The reduction in expected GDP growth was announced after Angola's cabinet approved a revised 2007 budget for the southwestern African nation, sub-Saharan Africa's second largest petroleum producer after Nigeria and the newest member of OPEC.


Read more at Reuters Africa

Mexican Peso Little Changed Before Central Bank's Benchmark Rate Decision

(Bloomberg) -- The Mexican peso was little changed
before the Bank of Mexico's benchmark lending rate decision
today.

Mexico's central bank will likely hold the overnight
lending rate at 7.25 percent as reports on retail sales and
industrial production signal slower economic growth, according
to 16 of 21 economists surveyed by Bloomberg. The decision is
expected at 10 a.m. New York time.


Read more at Bloomberg Currencies News

EU approves AIG's buy of Bulgarian phone company

(Reuters) - "Accordingly, no competition concerns would arise as a
consequence of the proposed transaction," the European Union's
top antitrust regulator said in a statement.




AIG has previously owned telecom operators in Romania and
Slovakia.


Read more at Reuters.com Mergers News

US RATE FUTURES-Slip, but still see year-end Fed rate cut

(Reuters) - A surge in futures on Thursday accelerated the implied
timing of a Federal Reserve rate cut to late 2007 from
mid-2008, and dealers said futures are subject to some
profit-taking pressure.




The Federal Open Market Committee next meets on Aug. 7. The
implied prospects for a cut in benchmark interest rates at that
meeting are about 15 percent.


Read more at Reuters.com Bonds News

Alcoa, Macy's Shares Retreat as Investors Abandon Takeover Speculation

(Bloomberg) -- For the first time in the 4 1/2-
year bull market, stocks are losing the support of investors
betting on mergers and acquisitions.

Alcoa Inc., Macy's Inc. and more than a dozen other
companies have lost as much as 10 percent in the past week.
They're unlikely to bounce back because funds for leveraged
buyouts are drying up, Richard Bernstein, Merrill Lynch & Co.'s
chief investment strategist, wrote in a report yesterday.


Read more at Bloomberg Stocks News

Gemstar-TV Guide quarterly profit rises

(Reuters) - Revenue rose 17 percent to $155.6 million.




Analysts, on average, had expected net earnings of 4 cents
per share and revenue of $149.4 million, according to Reuters
Estimates.



Read more at Reuters.com Market News

Market May Force Federal Reserve to Shift Focus From Prices to Growth

(Bloomberg) -- The week's turmoil in financial
markets casts doubt on the Federal Reserve's forecast of a
gradual U.S. economic recovery in the second half, raising the
odds it will need to shift its focus to spurring growth from
fighting inflation.

The turbulence, as stocks suffered their worst drop in five
months while corporate borrowing costs soared, threatens a
triple whammy for the economy. It robs investors of spending
power, makes business investment more expensive and may prolong
the housing recession.


Read more at Bloomberg Bonds News

US STOCKS-Futures drop as investors brace for data

(Reuters) - NEW YORK, July 27 - U.S. stock index futures fell
on Friday, pointing to a second day of losses following
Thursday's rout, as investors braced for data on the economy
and consumer sentiment as well as earnings news.




Government data on gross domestic product in the second
quarter will be sifted for signs of how economic growth is
holding up in the face of mounting concern that the subprime
mortgage market's troubles are spilling over into the broader
economy.


Read more at Reuters.com Bonds News

Kimco posts 38 pct rise in quarterly FFO

(Reuters) - FFO removes the profit-reducing effect that depreciation --
a noncash accounting item -- has on earnings.




In May, New Hyde Park, New York-based Kimco maintained a
2007 FFO forecast of $2.49 to $2.59 a share.


Read more at Reuters.com Market News