UPDATE 1-Court will wait to rule on CBOT exercise rights

(Reuters) - The Delaware Chancery Court also denied CME Group Inc.'s
request for a temporary restraining order it sought to
prevent the Chicago Board Options Exchange, or CBOE, from
implementing its "rule interpretation" on the status of Chicago
Board of Trade members, CME and the CBOE said.




CME Group Inc., the world's largest futures exchange, was
created with the merger of CBOT Holdings Inc. and Chicago
Mercantile Exchange Holdings Inc. in July. The CBOE is the
largest U.S. options market.


Read more at Reuters.com Mergers News

Bear Stearns preparing to oust president-WSJ

(Reuters) - Bear Stearns' board is due to meet on Monday to consider
the departure of Spector, who heads up its stock and bond
trading operations, the paper said, citing a person familiar
with the situation.




Spector, 49, had widely been seen as a candidate to become
the firm's next chief executive, the Journal said.


Read more at Reuters.com Bonds News

South African Rand Logs Weekly Gain Against Dollar as Carry Trade Resumes

(Bloomberg) -- South Africa's rand logged a weekly
gain against the dollar as global stocks rebounded, prompting
investors to resume buying emerging-market assets.

The rand also advanced as the cost of owning European
corporate bonds fell for the first week in seven. The South
African currency pared its weekly gain after Standard & Poor's
Corp. yesterday cut the credit outlook on Bear Stearns Cos.


Read more at Bloomberg Emerging Markets News

Foot and mouth disease found in cattle on UK farm

(Reuters) - Foot and mouth disease has been confirmed in cattle on a farm in southern England, the British government said on Friday.

The agriculture department, Defra, said in a statement that movements of pigs and ruminant animals such as cows and sheep had been banned nationwide and a 10-km (six-mile) surveillance zone had been placed around the premises, a farm near Guildford in Surrey, close to London.


Read more at Reuters Africa