Egypt shares down on negative sentiment, profit taking

(Reuters) - Egypt's main stock indexes edged down on Monday, with a global downturn in equities leaving foreign investors wary of Egypt and retail investors reaping profits in the real estate and banking sectors, traders said.

"Foreign institutions are waiting till the bottom, and then they'll enter, and that's because of what's been happening in the U.S... right now it's not at that bottom," said Teymour el-Draini of Beltone Financial.


Read more at Reuters Africa

US Congress recesses amid Democratic achievements

(Reuters) - WASHINGTON, Aug 6 - After months of being flogged
for accomplishing little, Democrats who control Congress headed
into a summer recess having passed several high-profile bills
from raising the minimum wage to bolstering U.S. security and
expanding children's health care.




Their top priority -- ending the Iraq war -- remains
frustratingly unfulfilled. But the Democrats who took over in
January were able to go home early on Sunday for a monthlong
break having won more support in the U.S. Senate and House of
Representatives for bringing combat troops home by early next
year, marking a significant turnaround from last year.


Read more at Reuters.com Bonds News

S.Africa's 1time airline to list on local bourse

(Reuters) - South Africa's second largest low-cost airline, 1time, is set to list on Johannesburg's smaller bourse AltX and capitalise on strong growth in air travel, it said on Monday.

1time said it would list on AltX, operated by the Johannesburg Securities Exchange, on Aug 14 and would offer 30 million ordinary shares at an issue price of 100 cents per ordinary share, raising 30 million rand.


Read more at Reuters Africa

American Home Mortgage files for bankruptcy

(Reuters) - The filing came after American Home closed most operations on Friday, laying off all but about 750 workers. It said it had started the year with more than 7,400 employees.







Read more at Reuters.com Bonds News

Funai Q1 profit tumbles on higher LCD panel prices

(Reuters) - Consolidated operating profit came to 1.17 billion yen
in April-June, down 52 percent from 2.44 billion
yen a year earlier, when Funai compiled its group results using
its overseas subsidiaries' earnings in the previous quarter.




Funai changed the accounting practice starting this quarter
and the results for the latest quarter reflect the April-June
performance of its overseas units.


Read more at Reuters.com Market News

Archstone-Smith sees merger to close around Oct 5

(Reuters) - In May, Archstone-Smith agreed to be acquired by Tishman
Speyer and investment bank Lehman Brothers Holdings Inc.
.





Read more at Reuters.com Mergers News

Europe shares pare losses; M&A counters credit woes

(Reuters) - European shares pared losses in mid-morning trade on Monday as merger and acquisition news helped distract investors from credit market worries.

At 0940 GMT, the FTSEurofirst 300 of top European shares was down 0.6 percent at 1,507.81 points after earlier falling as low as 1,500.39.


Read more at Reuters Africa

ABN, Barclays up as Fortis investors back ABN deal

(Reuters) - Shares in ABN were up 1.7 percent at 35.61 euros after the pivotal Fortis shareholder vote. In the first of two votes due on Monday, 94 percent of Fortis shareholders who voted were for its proposed rights issue, well above the 75 percent needed. Click on .




Barclays shares rose 1.4 percent. Shares in Fortis were down 1.7 percent and RBS and Santander shares were down 0.8 percent. Shares in the winning bank or banks are expected to come under pressure in the short term from concerns about the high price of the deal and execution risk.


Read more at Reuters.com Hot Stocks News

Stocks Retreat in Europe; UBS, BNP, Philips, BHP, Lafarge Lead the Drop

(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.


Read more at Bloomberg Stocks News

UPDATE 1-Fortis seeks shareholder approval for ABN buy

(Reuters) - BRUSSELS, Aug 6 - Belgian-Dutch financial services
group Fortis sought shareholder approval on Monday for
its part of a three-bank bid to buy ABN AMRO , a crucial
vote for the biggest ever bank takeover.




Fortis , Royal Bank of Scotland and Spain's
Santander have offered 71 billion euros
for the Netherlands' largest bank in a bidding war that has
featured legal and stakeholder battles.


Read more at Reuters.com Mergers News

Munich Re -maximum subprime loss around 100 mln eur

(Reuters) - A slide presentation showed that about 600 million euros of
the company's 179 billion euros of invested assets were exposed
to the subprime market, or about 0.33 percent of the total.




Read more at Reuters.com Market News

S.Africa's largest oil refinery shuts down due to strike

(Reuters) - SAPREF, South Africa's largest oil refinery, said on Monday it had shut down due to a strike that has crippled the industry and led to petrol shortages at filling stations.

"In response to CEPPAWU's call for a national strike, a safe shutdown has been completed at the SAPREF refinery," Prudence Mbatha said in a statement.


Read more at Reuters Africa

U.S. Treasuries Are Little Changed Amid Asian Stock Slide, Slower Growth

(Bloomberg) -- Treasuries were little changed as
Asian stocks fell and speculation increased that losses tied to
subprime mortgages will prompt the Federal Reserve to cut
interest rates this year.

Ten-year notes may extend their gains into a fifth week
after reports showed employers added fewer jobs than expected
last month and bond investors are becoming less bearish.
Treasuries are on track to return 5.3 percent this year, the
most since 2002, according to a Merrill Lynch & Co. index.


Read more at Bloomberg Bonds News

Cerberus taps Nardelli to run Chrysler

(Reuters) - Chrysler's current chief executive, Tom LaSorda, will stay on as president and vice-chairman and continue to lead ongoing talks with the United Auto Workers union as the automaker's No. 2 executive and a consultant to Cerberus.




In a further shake-up, Chrysler's current chief operating officer, Eric Ridenour, will leave and his post responsible for production and product planning will not be filled.


Read more at Reuters.com Business News

UPDATE 1-Buyout group owns 99.54 pct of Endemol after offer

(Reuters) - The group, called Edam Acquisition said in a statement 99.54
percent of Endemol shares have been tendered or committed.




It bought 75 percent of Endemol shares from Spanish telecoms
group Telefonica for 2.63 billion euros
last month and about 6 percent of shares from a Cyrte investment
fund.


Read more at Reuters.com Mergers News

European Stocks May Decline; UBS, ING, Philips, BHP Billiton Might Drop

(Bloomberg) -- European stocks may fall, following
declines in Asia and the U.S., as concern mounts that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and ING Groep NV may lead financial stocks lower.
U.S.-traded shares of Royal Philips Electronics NV and Nokia Oyj
dropped as the dollar traded near a record low against the euro.
BHP Billiton Ltd. and Rio Tinto Group declined in Australian
trading after copper fell in Shanghai.


Read more at Bloomberg Stocks News

Gold off 1-week high, Tokyo dips on firmer yen

(Reuters) - Gold dipped in profit taking on Monday after touching a one-week high last week, while Tokyo futures fell on a firmer yen.

Spot gold fell to $671.90/672.40 an ounce at 0320 GMT, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674.20 an ounce as the dollar weakened on lower-than-expected U.S. data on jobs growth.


Read more at Reuters Africa

Indonesia's Mobile-8 says may defer dlr bond issue

(Reuters) - "We have not decided yet, Lehman is still studying whether
we should go ahead or not," Merza Fachys, Mobile-8's corporate
affairs director, told Reuters.




"This week we may come up with a conclusion," Fachys added.


Read more at Reuters.com Bonds News

Berkshire, Diebold, Jones Apparel, Rowan, Paychex: U.S. Stock Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Berkshire Hathaway Inc. (BRK/A US): The investment company
run by billionaire investor Warren Buffett said second-quarter
profit from continuing operations increased to $1,625 a share,
helped by gains from insurance and investments. The result topped
the $1,436 estimate of Charles Gates, an analyst at Credit
Suisse. The stock fell $100 to $109,900 in regular trading.


Read more at Bloomberg Stocks News

Copper Futures Tumble in Shanghai on Concern U.S. Economic Growth May Slow

(Bloomberg) -- Copper prices fell the most in more
than two months in Shanghai amid speculation that an economic
slowdown in the U.S., the second-largest consumer of the metal,
will reduce demand. Zinc and aluminum futures also dropped.

Growth in U.S. service industries slowed more than forecast
in July, and U.S. employers added fewer jobs last month than
projected, reports showed Aug. 3. Stockpiles of copper, which
sometimes moves in tandem with economic growth, also increased
last week as summer holidays and maintenance hurt demand.


Read more at Bloomberg Commodities News

Hynix, Toshiba Shares Rise on Outage at Samsung Electronics Chip Factory

(Bloomberg) -- Shares of Hynix Semiconductor Inc. and
Toshiba Corp. rose, bucking declines across Asia, on speculation
a power outage at Samsung Electronics Co. may spur increased
orders for the two smaller memory chipmakers.

Hynix's stock gained as much as 2.8 percent in Seoul and
Toshiba shares climbed 1.8 percent in Tokyo as benchmark indexes
in Asia fell. On Aug. 4, South Korea's Samsung said it resumed
production at the six production lines that were halted a day
earlier because of a power outage, estimating 40 billion won ($43
million) in lost sales.


Read more at Bloomberg Emerging Markets News

Vietnam's June Reserve Increase Will Be Last for Now, Policy Maker Says

(Bloomberg) -- Vietnam's recent increase in bank
reserves will be the last for now as the government assesses the
effect on inflation, said the policy maker in charge of banking.

Any perceived reluctance to quell the fastest inflation in
17 months is likely to deter overseas investors from buying
Vietnam's stocks and bonds. The threat of inflation ``calls for
action'' by the central bank to reduce the amount of money in the
banking system, HSBC Holdings Plc said in research last week.


Read more at Bloomberg Bonds News

Samsung shares pare losses following outage

(Reuters) - Samsung's Kiheung sprawling complex was hit by a power shortage on Friday afternoon that shut down six of its chip production lines, raising the prospect of price increases and boosting shares of rival memory chip makers.




Some analysts on Friday said the incident could wipe out as much as a month's worth of Samsung's total output of NAND flash memory chips, but the firm later said damage from the accident would be smaller than expected.


Read more at Reuters.com Business News

South Korea's Kospi Index Falls, Led by Samsung, Posco and Kookmin Bank

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, fell 2.41 percent at 9:05 a.m.

The index of 733 companies traded on the Korea Exchange
fell 45.19 to 1,831.61. Among the stocks in the index, 88 rose,
566 fell and 79 were unchanged.


Read more at Bloomberg Stocks News

Dollar Falls to Four-Month Low Against Yen on Concerns About U.S. Growth

(Bloomberg) -- The dollar fell to a four-month low
against the yen on signs losses related to subprime mortgages
are starting to slow U.S. economic growth.

The dollar also traded near a record low against the euro
after the yield spread between U.S. and German two-year bonds
narrowed to the least in 2 1/2 years. The Standard & Poor's 500
Index slid the most in five months and two-year Treasury yields
dropped to an 18-month low Aug. 3 as reports on employment and
services suggested housing market weakness is causing economic
growth to slow.


Read more at Bloomberg Currencies News

Vattenfall Prolongs Maintenance Shutdown by Six Days at Forsmark Reactor

(Bloomberg) -- Vattenfall AB, the Nordic region's
biggest utility, said its Forsmark B2 nuclear reactor will be
shut down for maintenance work six days longer than previously
reported.

The reactor, with a maximum capacity of 1,000 megawatts,
will be off until Aug. 23 instead of Aug. 17, Forsmark Kraftgrupp
AB said today in a statement distributed by the Nord Pool ASA
power exchange. The Forsmark nuclear plant is located on Sweden's
east coast, north of Stockholm.


Read more at Bloomberg Energy News

ACA Capital shares could fall on subprime: Barron's

(Reuters) - Should the U.S. subprime troubles prove to be systemic across different geographies, then not only would shares be hammered, but the company could be toast, Barron's said.




If ACA buckles under, Wall Street firms whose securities the company insured would also be hurt. The $61 billion of ACA's insured exposure would come cascading back to balance sheets of the likes of Bear Stearns , Merrill Lynch , Lehman Brothers , and Citigroup along with some 25 other Wall Street counterparties, Barron's said.


Read more at Reuters.com Hot Stocks News

Fed to weigh hit of credit crunch

(Reuters) - The Fed is widely expected to hold overnight interest rates steady at 5.25 percent, where they have been for more than a year. The policy-setting Federal Open Market Committee is expected to release a statement outlining its views on the economy at around 2:15 p.m. on Tuesday.




Markets will watch keenly for any sign the U.S. central bank, which has persistently identified the risk of inflation as its main concern, is beginning to worry a bit more about the potential for an undesirable weakening in the economy.


Read more at Reuters.com Business News

HK financier Francis Leung joins CVC as adviser

(Reuters) - Leung, a long-time banker to Hong Kong tycoon Li Ka-shing with close China ties, was with Citigroup Global Markets as chairman of Asia until last year focusing on developing Citigroup's Greater China investment banking business, CVC said.




CVC, which is a major shareholder in global motor racing business Formula 1, owns interest in Australia's media group PBL Media, Japan's restaurant chain Skylark, Singapore's precision metals stamping firm Amtek, Malaysia's largest paper packaging firm GS Paper and Packaging, and Chinese wood fibreboards maker Plantation Timber Products.


Read more at Reuters.com Business News

UPDATE 3-Bush tours site of wrecked Minnesota bridge

(Reuters) - MINNEAPOLIS, Aug 4 - Divers searched for bodies
in debris in the murky Mississippi on Saturday as President
George W. Bush toured the site of this week's deadly rush-hour
bridge collapse and promised quick federal help in rebuilding.




Bush got a bird's eye view of the ruined bridge in a
10-minute helicopter tour, then donned an orange hard hat and
wind-breaker to walk a section of the 40-year-old bridge on
foot as rain fell.


Read more at Reuters.com Bonds News

Court will wait to rule on CBOT exercise rights

(Reuters) - 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.




The exercise rights allow full members of the Chicago Board
of Trade to trade options on CBOE without owning CBOE
membership.


Read more at Reuters.com Government Filings News

White Nile lobbying removal from Sudan oil block

(Reuters) - Britain's White Nile Plc is lobbying against a decision to remove them from south Sudan's oil Block B, saying it had halted all drilling work in the swampy area.

South Sudan's industry minister, Albino Akol Akol, told Reuters in July a long-standing dispute over the massive Block B had been resolved in favour of French oil giant Total SA which held rights to the block granted by the northern government.


Read more at Reuters Africa

Pound Has Biggest Weekly Gain Versus Yen Since June as Carry Trades Resume

(Bloomberg) -- The pound had its biggest weekly gain
since June against the yen as rebounding credit markets prompted
investors to restart so-called carry trades.

The pound posted a weekly advance against the dollar as
traders bought high-yielding currencies with loans from Japan.
The U.K. currency was also buoyed by speculation that the Bank of
England will raise interest rates at least once more from 5.75
percent by year-end.


Read more at Bloomberg Currencies News

Clean tech becomes big business

(Reuters) - "Clean technology is everywhere," write Ron Pernick and Clint Wilder in "The Clean Tech Revolution: The Next Big Growth and Investment Opportunity" .




They describe clean tech as "any product, service, or process that delivers value using limited or zero nonrenewable resources and/or creates significantly less waste than conventional offerings."


Read more at Reuters.com Business News

Nike CEO Parker earns $1.25 million salary in 2007

(Reuters) - During fiscal 2007, Parker also exercised $7.38 million in option awards and vested $1.2 million in stock awards.




For fiscal 2006, Parker was paid a salary of $1.14 million, received a bonus of $1.29 million and received more than $2 million in restricted stock awards and other compensation.


Read more at Reuters.com Business News

NYSE Brokers Say Some Stock Orders Were `Lost' in Final Minutes of Trading

(Bloomberg) -- Traders at the New York Stock Exchange
said they couldn't confirm that some buy and sell orders were
filled in the final minutes of floor trading today.

``The orders somehow got lost in cyberspace,'' said Theodore
Weisberg, president of Seaport Securities Corp. in New York. ``As
best we can tell, we weren't able to get any fills. What shows up
here Monday morning remains to be seen.''


Read more at Bloomberg Stocks News

TREASURIES-Bonds rally on stock rout, subprime fears

(Reuters) - NEW YORK, Aug 3 - The U.S. Treasury debt market
rallied on Friday with benchmark 10-year yields falling to
their lowest levels since May, as subprime fears drove
investors from stocks into bonds and other low-risk assets.




Safety bids for Treasuries and the stock sell-off
intensified after a top executive at Bear Stearns, whose
subprime hedge funds racked up heavy losses, said fixed-income
market conditions were at their worst in 22 years.


Read more at Reuters.com Bonds News

July job growth slowest in five months

(Reuters) - In another sign of slowing growth, the Institute for Supply Management reported the service sector grew more slowly in July as its index fell to 55.8 from 60.7 in June.




There were indications that problems in the housing sector, where lenders face rising mortgage defaults and prices are declining in many metro markets, appeared to be spreading into hiring as construction businesses cut 12,000 jobs last month.


Read more at Reuters.com Business News

U.S. Stocks Retreat on Credit-Market Woes; Bear Stearns, Oil Shares Drop

(Bloomberg) -- Stocks tumbled on evidence losses in
the mortgage market may slow the economy and reduce bank profits,
sending the Standard & Poor's 500 Index to its worst three-week
retreat since 2003.

Bear Stearns Cos., the manager of two hedge funds that
collapsed last month, helped carry financial shares to their
biggest decline in five years after S&P cut the company's credit
outlook. Energy shares fell to the lowest since May, led by Exxon
Mobil Corp. and Chevron Corp., on speculation weaker job growth
and falling oil prices will hurt earnings.


Read more at Bloomberg Stocks News

Bear Stearns says weathering "extreme" credit storm

(Reuters) - Bear Stearns' chief financial officer said the shockwaves hitting lending markets, triggered by rising mortgage losses, were as bad as crises such as the Internet bubble bursting in 2001 or the 1998 collapse of hedge fund Long-Term Capital Management.




"These times are pretty significant in the fixed-income market," CFO Sam Molinaro said on a conference call with analysts. "It's as been as bad as I've seen it in 22 years. The fixed-income market environment we've seen in the last eight weeks has been pretty extreme."


Read more at Reuters.com Hot Stocks News

US STOCKS-S&P drops 1 percent as Bear Stearns sinks

(Reuters) - NEW YORK, Aug 3 - U S. stocks dropped on Friday,
with the S&P 500 losing more than 1 percent, after Standard &
Poor's cut Bear Stearns Cos. Inc.'s rating outlook,
dragging down shares of the investment bank and other
financial-sector stocks.




The Dow Jones industrial average was down 118.52
points, or 0.88 percent, at 13,344.81. The Standard & Poor's
500 Index was down 14.72 points, or 1.00 percent, at
1,457.48. The Nasdaq Composite Index was down 21.67
points, or 0.84 percent, at 2,554.31.


Read more at Reuters.com Bonds News

At American Home, it's one last day at the office

(Reuters) - By Lynn Adler



MELVILLE, New York, Aug 3 - In some respects it was a normal summer Friday in this Long Island hamlet roughly 50 miles east of Wall Street. The weather was hot, a bit steamy. The weekend approached, and employees of American Home Mortgage Investment Corp. awaited their paychecks.


Read more at Reuters.com Bonds News

Wachovia unit halts Alt-A home loans

(Reuters) - Wachovia stopped making Alt-A loans through all brokers on Thursday, the spokesman said. Wells Fargo & Co. has said it is also curtailing such loans.



Alt-A loans, short for "Alternative-A," fall between prime and subprime in quality. Investors have shied away from the loans on concern about rising defaults, and that credit issues affecting riskier "subprime" loans would spread to higher-quality loans.


Read more at Reuters.com Bonds News

Chile stocks down in variable trade; peso slips

(Reuters) - Chilean and global markets were rattled by continuing
concerns about U.S. credit and worse-than-expected jobs data.




"Things have been volatile and unpredictable, both
domestically and abroad," a trader said. "On top of that, we
are still expecting earnings reports from major blue-chip
companies."


Read more at Reuters.com Bonds News

Nymex Gas Falls as U.S. Has Ample Fuel Supply to Meet Hot-Weather Demand

(Bloomberg) -- Natural gas in New York fell on
expectations the U.S. will have ample supplies of the power-plant
fuel to meet increased demand during hot spells this summer

U.S. gas inventories rose 77 billion cubic feet last week,
exceeding analyst expectations. The gain left supplies 2.3
percent higher than a year earlier, at 2.84 trillion cubic feet,
heading toward a record by winter, the Energy Department reported
yesterday.


Read more at Bloomberg Energy News

UPDATE 1-Telus files $2.8 bln mixed shelf offering

(Reuters) - The company plans to put the proceeds for debt repayment,
capital spending and other general corporate purposes,
according to a shelf registration statement filed with the U.S.
Securities and Exchange Commission.




Under a shelf registration, a company may sell securities
in one or more separate offerings with the size, price and
terms to be determined at the time of sale.


Read more at Reuters.com Government Filings News

Poland's Zloty Posts Weekly Gain as Investors' Appetite for Risk Returns

(Bloomberg) -- The Polish zloty posted a weekly gain,
advancing to an eight-day high against the euro, as investors
regained their appetite for emerging-market assets.

Investors resumed buying stocks and higher-yielding
currencies such as the zloty, the Turkish lira and the South
African rand as concern abated that losses on U.S. subprime
mortgages would slow global economic growth. The risk of holding
European corporate debt fell for the first week in seven.


Read more at Bloomberg Currencies News

Marsh completes Putnam sale; acquisitions ahead?

(Reuters) - Marsh & McLennan said in a statement that it would discuss the use of the money at its earnings conference call on Aug. 7, immediately after announcing second-quarter earnings.



But Chief Executive Michael Cherkasky has already indicated his first priority will be acquisitions to boost the broker's current businesses and add to earnings within the next 18 month.


Read more at Reuters.com Mergers News

Deutsche Bank, JPMorgan Abandon Second Loan Offering for KKR Boots Buyout

(Bloomberg) -- Deutsche Bank AG, JPMorgan Chase &
Co. and UniCredit SpA canceled the sale of 1 billion pounds ($2
billion) of loans for Alliance Boots Plc after failing to find
investors, two people with direct knowledge of the deal said.

The underwriters withdrew the offer of second-lien loans,
debt that ranks after senior loans for repayment, said the
people, who declined to be identified because the discussions
are private. Kohlberg Kravis Roberts & Co.'s bankers, which last
month pulled 5 billion pounds of senior loans, will only
syndicate 750 million pounds of mezzanine debt that ranks last
for repayment and pays the highest interest.


Read more at Bloomberg Bonds News

Israeli Blue Square to buy 51 pct stake in pvt retailer

(Reuters) - The Bronfman-Alon Group owns Blue Square.





Read more at Reuters.com Mergers News

India's Wipro in talks to buy U.S. firm -TV

(Reuters) - The size of the deal is expected to be between $450 million and $500 million, it said. A spokesman for New York-listed Wipro said the company would not comment on market speculation.



Wipro, which offers IT solutions such as system integration, software development and back-office services to companies looking to cut costs, has made a string of acquisitions in the last 1-? years to boost growth.


Read more at Reuters.com Mergers News

UPDATE 3-S&P changes Bear outlook to negative; shares fall

(Reuters) - NEW YORK, Aug 3 - Standard & Poor's on Friday
changed its rating outlook on Bear Stearns Cos. to negative
from stable, indicating a greater chance of a downgrade over
the next two years, as it warned of problems that could hurt
the firm's performance "for an extended period."




S&P said issues include problems at some of Bear Stearns'
managed hedge funds.


Read more at Reuters.com Mergers News

Regulator seeks comments on "unfair" lending

(Reuters) - The proposal comes at a time when U.S. banking authorities, including the Federal Reserve, have been criticized for responding too late to problems in home loans made to borrowers with poor credit histories, so-called subprime loans.




The OTS, which regulates more than 800 savings and loan institutions with $1.5 trillion is assets, typically focuses on mortgage lending.


Read more at Reuters.com Government Filings News

UPDATE 1-Barclays, ABN advisers' fees seen at 311 mln stg

(Reuters) - In a filing to U.S. regulator the Securities and Exchange
Commission late on Friday, Barclays also said its shareholders
will be asked to vote on the deal on September 14.




The British bank is expected to formally launch its offer
for ABN by a deadline to do so on Monday.


Read more at Reuters.com Government Filings News

Allianz beats forecasts as life insurance shines

(Reuters) - "The good results from the first half year provide an excellent platform for attaining our goals in 2007-2009," Chief Executive Michael Diekmann said in a statement.




"We are expecting net income of around 8 billion euros for the year 2007."


Read more at Reuters.com Business News

Mortgage fallout weighs on Wall Street

(Reuters) - Standard & Poor's said it changed its ratings outlook on Bear Stearns, the biggest U.S. underwriter of mortgage bonds, to "negative" from "stable," indicating there is a better chance of a downgrade over the next two years.




"People are very concerned. They do not know how deep these loan problems are and how it will affect the economy," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.


Read more at Reuters.com Business News

FTSE up as miners support but credit fears remain

(Reuters) - The FTSE 100 index of Britain's leading shares edged up on Friday after U.S. stocks climbed overnight as robust earnings tempered nervousness about more weakness in credit conditions.

Such worries were heightened after Accredited Home Lenders Holding Co. -- a subprime lender in the process of being sold -- which raised concern about its ability to stay in business. For details, see.


Read more at Reuters Africa

S.Africa 3-mth T-bill discount rate down at 8.84 pct

(Reuters) - The average discount rate for South African three-month Treasury Bills decreased to 8.84 percent on Friday from 8.86 percent last week, the Reserve Bank said.

The average yield was also down at 9.04 percent from 9.06 percent and applications for the 2.3 billion rand of bills on offer totalled 5.02 billion rand.


Read more at Reuters Africa

S.Africa's c.bank casts doubt on maize for ethanol

(Reuters) - South Africa's central bank chief Tito Mboweni has questioned the wisdom of using maize as a source for ethanol, saying global trends have shown this would push up prices of the staple food.

"It seems that we in South Africa think that we are going to produce ethanol from maize," Mboweni said at a dinner.


Read more at Reuters Africa

Jobs data show US economy strong-WH's Lazear

(Reuters) - He was speaking after data showed a less than expected 92,000
new U.S. jobs were created in July.




He also said that rising oil prices had only had a minimal
impact on growth, although he noted that high energy prices were
clearly a negative, and welcomed recent declines in the cost of
gasoline.


Read more at Reuters.com Economic News

Cocoa Gains on Speculation Adverse Weather Will Hurt Indonesia's Harvest

(Bloomberg) -- Cocoa gained for the first time in three
days in London on speculation adverse weather in Indonesia, the
world's third-biggest producer, will lead to a smaller harvest.

Production in Indonesia's Central Sulawesi province may fall
``more than 10 percent'' this year after floods and landslides
last month damaged plantations and cut off distribution, Herman
Agan, head of the local chapter of the Indonesian Cocoa
Association, said in a telephone interview yesterday.


Read more at Bloomberg Commodities News

Toyota keeps FY global sales forecasts

(Reuters) - Its sales forecasts by region were also unchanged. In North America it expects to sell 2.99 million vehicles, in Japan 2.32 million units.



The figures include sales at truck maker Hino Motors Ltd. and compact car maker Daihatsu Motor Co. .


Read more at Reuters.com Market News

RBS sees June, July flood losses at 250 mln stg

(Reuters) - RBS Chief Executive Fred Goodwin said losses from July's
flooding would be "very similar" to June.




He declined to be drawn on the possible consequence for the
prices paid by RBS insurance customers, but said the group,
which owns brands including Direct Line and Churchill, would be
watching the market and moves by rivals.


Read more at Reuters.com Market News

UPDATE 1-KeySpan 2nd-quarter earnings rise

(Reuters) - Net income was $52.2 million, or 29 cents per share,
compared with $49.4 million, or 28 cents per share, a year
earlier.




Analysts, on average, expected the company to earn 19 cents
per share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-Top Tankers posts Q2 net profit, shares rise

(Reuters) - Shares of the Greek company rose more than 7 percent to
$7.14 in early morning trade on the Nasdaq.




The company posted a net profit of $5.8 million, or 18
cents a share for the quarter, compared with a net loss of $6.8
million, or 24 cents a share, in the year-ago period.


Read more at Reuters.com Market News

Subprime Housing Defaults Blamed for Corporate America's Earnings Setbacks

(Bloomberg) -- Railroads, chemical producers and
insurance companies are blaming the worst U.S. housing slump in 16
years for their earnings woes.

Burlington Northern Santa Fe Corp., the second-biggest U.S.
railroad, said lower shipments of housing products and lumber
reduced second-quarter earnings. DuPont Co., the third-largest
chemical maker, said slumping demand for kitchen and bathroom
countertops was partly responsible for its profit drop. Genworth
Financial Inc., the former insurance unit of General Electric Co.,
said earnings will be at the ``lower end'' of its forecast this
year as mortgage-insurance claims increase.


Read more at Bloomberg Exclusive News

Toyota Electric Car May Have Half the Range of GM's, People Familiar Say

(Bloomberg) -- Toyota Motor Corp.'s plug-in electric
car may have less than half the range of a competing vehicle
planned by General Motors Corp., people with knowledge of both
companies' development programs said.

GM wants its Chevrolet Volt to travel at least 40 miles
after being charged once at a normal household outlet, while the
Toyota model may go no more than 20 miles on a single charge,
said the people, who asked not to be identified because details
of the plans are still secret.


Read more at Bloomberg Exclusive News

Canada's Dollar Falls on Credit Fears, Depressing Commodity Currencies

(Bloomberg) -- Canada's dollar fell for the first
time in four days as investors sold currencies tied to commodity
exports on concerns U.S. subprime credit losses will spread,
slowing the global economy.

Commodity-linked currencies fell last week as investors
shunned the practice known as ``carry-trade'' in which investors
borrow in Japan to buy assets in economies such as Canada where
rates are believed headed higher. The benchmark lending rate in
Japan is 0.5 percent, while Canada's is 4.50 percent.


Read more at Bloomberg Currencies News

Anglo Plans $4 Billion Share Buyback After Posting Record Six-Month Profit

(Bloomberg) -- Anglo American Plc, the world's
second-biggest mining company, reported record profit, announced
a $4 billion stock buyback and said it may sell the Tarmac
asphalt unit. Anglo shares rose as much as 4 percent.

Net income climbed 15 percent to $3.38 billion, or $2.41 a
share, in the six months to June 30, from $2.94 billion, or $2,
a year earlier, the company said today in a statement.


Read more at Bloomberg Emerging Markets News

JGBs rise as Treasuries climb, Nikkei erases gains

(Reuters) - Bond investors watched movements in the Tokyo stock market
closely this week as they believe the Bank of Japan will take
recent volatility in equities into account when it decides
whether to raise interest rates at its Aug. 22-23 policy meeting.




"The JGB market will stay under the strong influence of
external factors as the BOJ is unlikely to lift interest rates
before investor risk aversion ends," said Naomi Hasegawa, a
senior fixed-income strategist at Mitsubishi UFJ Securities.


Read more at Reuters.com Bonds News

UPDATE 2-Pakistan issuer defers bond, others may follow

(Reuters) - KARACHI/HONG KONG, Aug 3 - Pakistani textile and
fertiliser maker Azgard Nine has postponed its
international bond issue due to poor market conditions, sources
familiar with the deal said on Friday, with other pending high
yield issues from Asia also seen as vulnerable.




Azgard Nine said in May its debut international bond,
sponsored by Citigroup , would be worth up to $260 million,
and have a tenor of between seven and 10 years.


Read more at Reuters.com Bonds News

Weyerhaeuser earnings tumble

(Reuters) - Excluding items, the company earned 48 cents a share in the latest quarter.




The company's shares have fallen 16.1 percent over the last three months, tracking a 12 percent drop in the Standard & Poor's Paper and Forest Products Index.


Read more at Reuters.com Bonds News

UPDATE 1-Weyerhaeuser 2nd-qtr results beat expectations

(Reuters) - Excluding items, the No. 2 U.S. timber and forest products
company earned 48 cents a share in the latest quarter, well
above Wall Street's expectations of 40 cents a share, according
to Reuters Estimates.




However, Weyerhaeuser's second-quarter net earnings tumbled
to $32 million, or 15 cents a share, from $298 million, or
$1.19, a year earlier on weak prices for lumber products and a
lower profit margin from its real estate business.


Read more at Reuters.com Bonds News

Canadian Retail Stocks May Decline After Jean Coutu Results Miss Estimates

(Bloomberg) -- Canadian retail stocks may fall after
earnings at Jean Coutu Group Inc., Canada's second-biggest
pharmacy chain, fell short of analysts' estimates.

A report showing that U.S. employers created fewer jobs last
month may weigh on the Canadian market, reinforcing concern that
economy of Canada's biggest trading partner is slowing. Energy
producers such as Imperial Oil Ltd. may advance along with crude
oil prices.


Read more at Bloomberg Stocks News

Canada's Dollar May Decline on Elliott Wave Charts, Forecast's Ng Predicts

(Bloomberg) -- Canada's dollar may fall to C$1.0759,
according to charts based on Elliott waves, said Pak Lai Ng, a
technical analyst at Forecast Singapore Ltd.

The level represents the Canadian currency's June 21 low
versus the U.S. dollar, Ng said. The currency has risen 10.8
percent since touching this year's low of C$1.1876 on Feb. 8.


Read more at Bloomberg Currencies News

Oil eases from record high close, awaits U.S. data

(Reuters) - After seven consecutive weeks of gains, U.S. crude is testing last year's all-time intra-day high of $78.40 a barrel, fuelled by fears that OPEC's reluctance to lift production will lead to a sharp pre-winter decline in supplies.




European benchmark Brent slid 36 cents to $76.69 a barrel, having recently lagged U.S. gains spurred by a steady decline in stocks at the Cushing, Oklahoma, delivery point for the New York Mercantile Exchange contract.


Read more at Reuters.com Hot Stocks News

Rising costs push Chile's Colbun into the red

(Reuters) - Colbun, which uses hydro, natural gas and petroleum to
power its generators, said revenue in the first half of the
year was 255.876 billion pesos, 34 percent higher than a year
earlier.




But it made an operating loss of 8.230 billion pesos
compared with an operating profit of 73.444 billion pesos a
year earlier.


Read more at Reuters.com Market News

Google wary of behavioral targeting in online ads

(Reuters) - Susan Wojcicki, Google vice president of product management
for advertising, said on Tuesday Google was shying away from
the industry race to deliver tools for advertisers that stitch
together a user's various online actions into one profile.




The world's Web search leader has built its business around
ads tied to words typed into its search box, which are expected
to earn it upward of $16 billion in revenue this year.


Read more at Reuters.com Mergers News

UPDATE 1-Bear Stearns halts redemptions in third hedge fund

(Reuters) - Bear Stearns' $850 million Asset-Backed Securities
Fund experienced declines in July, prompting some investors to
seek redemption of their investments. The investment bank,
however, believes the assets in the fund -- tied to Alt-A and
prime mortgages -- are worth more than what current market
conditions will allow.




Through the end of June, the fund was up about 5 percent.
But mortgage investments have taken a beating this month and
most of the year amid a rising wave of delinquencies and
defaults on subprime mortgages, or loans made to people with
weak credit.


Read more at Reuters.com Bonds News

Northwestern seeks 6 pct power bill hike in Montana

(Reuters) - An average residential electricity customer using 750
kilowatts of power will see an increase of about $4.55 per
month, NorthWestern said. The average residential gas customer
will see an increase in monthly bills of $4.36.




Of NorthWestern's 640,000 natural gas and electricity
customers in Montana, South Dakota and Nebraska, about 322,000
are in Montana.


Read more at Reuters.com Bonds News

Australia, New Zealand Dollars Decline After Investors Cut Carry Trades

(Bloomberg) -- The Australian and New Zealand
dollars declined against the yen as concerns about subprime
mortgages caused U.S. stocks to fall, prompting investors to cut
holdings of higher-yielding assets bought with loans from Japan.

New Zealand's dollar is the worst performer out of the 16
most-traded currencies today, followed by Australia's, after the
Standard & Poor's 500 Index declined 1.3 percent yesterday and
post its biggest monthly decline in three years. The currencies,
favorites for so-called carry trades, reached the highest in more
than 16 years versus the yen last month on interest rates that
are among the highest of major economies.


Read more at Bloomberg Currencies News

UPDATE 1-Thomas Weisel Partners quarterly profit doubles

(Reuters) - Asset management revenue rose to $14.3 million in the
latest second quarter from $5.4 million a year ago, driven by
private equity gains of $9.9 million, the company said in a
statement.




The San Francisco, California-based company reported
second-quarter earnings of $6.6 million, or 25 cents a share,
compared with $3.3 million, or 14 cents a share, in the
year-ago period. Excluding items, it earned 29 cents a share.


Read more at Reuters.com Market News

BHP, Coates Hire, Macquarie, Woodside Petroleum: Australian Stock 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
parentheses after the company names.

The S&P/ASX 200 Index futures contract due in September lost
0.5 percent to 6090 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index fell 0.6 percent in New York.


Read more at Bloomberg Stocks News

Brazil miner CVRD Q2 profit up at 5.8 bln reais

(Reuters) - Analysts surveyed by Reuters had expected, on average, a
net profit of around 5.9 billion reais and EBITDA of 9.7
billion reais in the second quarter.





Read more at Reuters.com Market News

Abraxis acquires manufacturing facility from Watson

(Reuters) - Financial terms of the deal were not disclosed.





Read more at Reuters.com Mergers News

Senate Democrats wary on private equity tax hikes

(Reuters) - Senate Banking Committee Chairman Christopher Dodd said in a statement he is "concerned about the potential adverse effects that these proposals would have on capital formation, on job creation, and on institutional investors."




A Democratic presidential candidate who represents Connecticut where many hedge funds are based, Dodd said he is "not prepared to support any legislation before I have thoroughly analyzed the full impact it is likely to have."


Read more at Reuters.com Bonds News

Mexico stocks give up gains in volatile session

(Reuters) - The benchmark IPC stock index , which had risen more
than 1 percent in early trade, fell 241 points to 30,659.66
points. The peso currency weakened 0.05 percent to
10.9445 per dollar.




In debt trading, the price of the benchmark 10-year
government peso bond gained 0.062 points to bid
101.771, with a yield of 7.71 percent.


Read more at Reuters.com Bonds News

Genoptix files for $86.25 mln IPO

(Reuters) - The Carlsbad, California-based company is seeking a Nasdaq
listing under the symbol "GXDX" .




Read more at Reuters.com Bonds News

DreamWorks Animation profit up on new "Shrek" film

(Reuters) - LOS ANGELES, July 31 - DreamWorks Animation SKG Inc posted a sharply higher second-quarter profit on Tuesday, propelled by global box office grosses of $720 million for "Shrek the Third".



Net income was $61.8 million, or 60 cents per share, compared with $13.7 million, or 13 cents per share, for the year-earlier quarter.


Read more at Reuters.com Market News

Whole Foods 3rd-quarter profit tops expectations

(Reuters) - Profit dropped to $49.1 million, or 35 cents per share, in the fiscal third quarter ended July 1, from $53.9 million, or 37 cents per share, a year earlier.



Analysts, on average, expected Whole Foods to earn 33 cents per share, according to Reuters Estimates.


Read more at Reuters.com Government Filings News

Sowood hedge fund collapse sparks fear, little else

(Reuters) - The Boston-based hedge fund, which managed money for
Harvard University, lost roughly half of its $3 billion in
capital in less than a month, becoming the first high-profile
victim of the recent credit market woes.




People who passed on Sowood when Jeff Larson launched the
fund three years ago called the decline "unbelievable" and
"shocking" on Tuesday, and several blamed weak risk management
for the fund's death spiral.


Read more at Reuters.com Mergers News

Yen Posts Biggest Monthly Gain Versus Dollar in Almost Three Years on Risk

(Bloomberg) -- The yen posted the biggest monthly
advance in almost three years against the dollar on concern
losses from U.S. subprime mortgages will drive investors from
riskier assets.

Japan's yen gained versus all 16 major currencies tracked by
Bloomberg this month as investors pared higher-yielding assets
funded by loans in Japan, a practice known as the carry trade.
U.S. stocks erased early gains and a gauge of corporate bond risk
increased, adding to yen buying today.


Read more at Bloomberg Currencies News

Radian-Backed U.S. Municipal Bonds Face Possible Cut in Ratings by Fitch

(Bloomberg) -- Fitch Ratings put 934 municipal bond
issues insured by a Radian Asset Assurance Inc. under review for
a possible ratings cut following losses by its parent on an
investment in a subprime mortgage lender.

Radian Group Inc. and MGIC Investment Corp., which
announced plans in February to merge, yesterday said their
combined stakes of more than $1 billion in Credit-Based Asset
Servicing and Securitization may be worthless. Radian Asset
Assurance is rated AA, while Radian Group is ranked A.


Read more at Bloomberg Bonds News

SPX Corp to buy a Johnson Controls diagnostic unit

(Reuters) - BOSTON, July 31 - Diversified manufacturer SPX Corp. said on Tuesday it had reached a deal to buy the European automotive diagnostics division of Johnson Controls Inc. for 32 million euros .



Johnson's automotive diagnostics unit last year generated about $80 million in revenue. SPX said it expects the deal to close in the third quarter of 2007.


Read more at Reuters.com Bonds News

Yen Poised for Biggest Monthly Gain in Three Years Versus Dollar on Risks

(Bloomberg) -- The yen rose, heading for the biggest
monthly advance in almost three years against the dollar, on
concern losses from U.S. subprime mortgages will drive investors
from riskier assets.

The Japanese currency has gained against all 16 major
currencies tracked by Bloomberg this month as investors pared
higher-yielding investments funded by loans in Japan, a practice
known as the carry trade. U.S. stocks dropped, erasing early
gains, and a gauge of corporate bond risk increased, adding to
yen buying today.


Read more at Bloomberg Currencies News

U.S. Stocks Retreat on Subprime Concern; American Home Mortgage Plummets

(Bloomberg) -- U.S. stocks declined, erasing a
rally, on concern losses from subprime mortgages are worsening.

Banking shares fell after American Home Mortgage
Investment Corp. said it's unable to fund loans and may have to
liquidate assets. MGIC Investment Corp. and Radian Group Inc.
tumbled after the two home-loan insurers said their combined
stakes of more than $1 billion in a subprime mortgage company
may be worthless.


Read more at Bloomberg Stocks News

Altria shares up as focus turns to board meeting

(Reuters) - "I expect the stock to be strong going into this meeting," Charles Norton, portfolio manager of the Vice Fund , said.




Altria has said that it is still considering a possible spinoff of PMI and has declined to comment on timing or the amount of any subsequent stock repurchases that might occur.


Read more at Reuters.com Hot Stocks News

Canada's Dollar Strengthens as Crude Oil Prices Rise to Highest in a Year

(Bloomberg) -- Canada's dollar rose for the first
time in five days as oil prices soared to the highest in a year,
boosting the currency's appeal.

The currency also benefited as equity markets worldwide
rebounded as concern eased that tighter credit standards will
slow growth. The currency is on pace for a sixth straight
monthly increase, fueled by higher prices of the nation's main
commodity exports. Commodities account for about half of
Canada's exports.


Read more at Bloomberg Currencies News

US STOCKS-Wall Street rises on profits, data; GM helps

(Reuters) - NEW YORK, July 31 - U.S. stocks rose on Tuesday,
buoyed by strong earnings from companies such as General Motors
Corp. and Sun Microsystems , and some reassuring
reports on the economy.




GM set the stage for gains after the automaker swung to a
profit in the second quarter and handily topped Wall Street's
expectations [ID:nN31206991], while Sun Microsystems' shares
rose 7 percent after the high-end computer maker posted a
quarterly profit as it cut costs.


Read more at Reuters.com Bonds News

S.Africa Telkom gets ok from regulator on price cuts

(Reuters) - South Africa's communications regulator has approved fixed-line operator Telkom's plans to drop its prices by 1.2 percent overall, the firm said on Tuesday.

Telkom -- which has been under pressure from government to lower telecoms costs that are among the highest globally -- filed its price changes last month with the Independent Communications Authority of South Africa (ICASA).


Read more at Reuters Africa

UPDATE 1-MCG Capital posts higher Q2 profit; shares rise

(Reuters) - Shares of the Arlington, Virginia-based company were
trading up almost 6 percent at $14.27 in morning trade on the
Nasdaq. The shares have fallen 34 percent since the begining of
the year before Tuesday's gains.




The main positives for the quarter include
higher-than-expected dividend income, higher-than-expected net
interest margin and $8.6 million of net gains on portfolio
investments, BMO Capital Markets analyst David Chiaverini wrote
in a research note.


Read more at Reuters.com Market News

Nelnet agrees to $2 mln settlement with New York

(Reuters) - Nelnet previously agreed to pay $1 million to settle an
investigation by Nebraska's attorney general.




Read more at Reuters.com Government Filings News

First Data shareholders approve selling to KKR

(Reuters) - But the company's shares traded on Tuesday morning at 5.1 percent below the expected purchase price of $34.00.




Analysts have said the large gap between the planned sale price and where the shares were trading signal investor doubt about whether the deal would close at current terms.


Read more at Reuters.com Mergers News

OPEC's Refining Capacity Rises on New Investments in Saudi Arabia, Iran

(Bloomberg) -- OPEC's refining capacity increased by
more than 140,000 barrels a day last year because of new investment
in Saudi Arabia and Iran.

Refining capacity for the 12-nation group totaled 9.23 million
barrels last year compared with 9.09 million barrels the year
before, OPEC said today in its Annual Statistical Bulletin.


Read more at Bloomberg Energy News

Brazilian Stocks Climb on Commodity Demand, Profit Growth: Latin Equity

(Bloomberg) -- Brazil's main stock index rose, led
by materials companies, on speculation that global demand for
metals and oil will boost corporate profits.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange headed for a fifth month of gains, rising 507.15, or 0.9
percent, to 55,079.76 as of 11:08 a.m. New York time.


Read more at Bloomberg Stocks News

UPDATE 1-Apria Healthcare posts rise in profit

(Reuters) - Second-quarter net income was $20.8 million, or 47 cents
per share, compared with $18.5 million, or 43 cents per share,
in the second quarter of 2006.




Analysts on average had forecast earnings of 45 cents per
share, according to Reuters Estimates.


Read more at Reuters.com Market News

Nelnet misses Wall Street view for Q3 earnings

(Reuters) - The company posted base earnings of $21.7 million, or 44
cents a share, from continuing operations, compared with $18.8
million, or 34 cents per share, a year earlier.




On that basis, the consensus estimate was for earnings of
69 cents a share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-LCA-Vision posts lower Q2 earnings, cuts 2007 view

(Reuters) - Shares of the provider of vision correction services, which
also cut its full-year 2007 earnings outlook, were down more
than 14 percent at $36.90 in morning trade on the Nasdaq.




Including the impact of deferred revenue, the company now
sees 2007 earnings of $1.90 to $2.00 a share, on revenue of
$308.0 million to $315.0 million. In May, it had forecast
earnings of $2.05 to $2.15 a share for the year.


Read more at Reuters.com Market News

SAP says Germany head resigns for personal reasons

(Reuters) - In the interim, Ferri Abolhassan, executive vice president
for SAP large enterprise business in Europe, the Middle East and
Africa, will run the German operations.




Read more at Reuters.com Market News

UPDATE 1-Apen Technology settles SEC charges

(Reuters) - Cambridge, Massachusetts-based Aspen, which develops
computer software for oil refineries and other process
industries, agreed to cease and desist from future violations
and settled the case without admitting or denying any
wrongdoing, the SEC said.




The SEC did not announce any monetary penalty against the
company, which is required to retain an independent consultant
to review its financial and accounting policies and
procedures.


Read more at Reuters.com Government Filings News

CanWest switches to bridge financing for Alliance

(Reuters) - CanWest's AA Acquisition Corp., which will acquire Alliance, has written commitments from its banking syndicate for bridge financing to complete the deal, the companies said in separate statements.




"The bridge financing replaces the originally contemplated high yield debt offering, which has for the time being been deferred due to recent turmoil in the North American debt markets," CanWest said.


Read more at Reuters.com Bonds News

US STOCKS-Wall St. rises on data, GM earnings

(Reuters) - NEW YORK, July 31 - U.S. stocks climbed on
Tuesday after General Motors Corp. added to optimism
about corporate earnings and a key inflation indicator showed a
smaller-than-expected rise.




GM shares jumped 6 percent to $34.56 after the blue-chip
automaker swung to a profit in the second quarter and handily
topped Wall Street's expectations. For details, see
[ID:nN30442082].


Read more at Reuters.com Bonds News

Core inflation softens in June

(Reuters) - The 0.1 percent rise in the core personal consumption price index "should be reassuring to the Fed," said Camilla Sutton, currency strategist at Scotia Capital in Toronto.




U.S. stock index futures rose on the weak inflation data and a stronger-than-expected earnings report from General Motors . U.S. government debt prices fell despite the inflation report, and the dollar was lower against the euro.


Read more at Reuters.com Business News

Midwest Air to start talks with AirTran, others

(Reuters) - Midwest, which said its board of directors has formed a committee to explore strategic and financial alternatives, said it will also hold discussions with other strategic and financial parties that have recently expressed interest in Midwest.



Midwest said there is no assurance that the process will result in a transaction with AirTran or any other party.


Read more at Reuters.com Mergers News

UPDATE 1-GM trounces estimates, shares surge

(Reuters) - GM, whose shares rose 6.7 percent in early electronic
trading, said it posted a net profit of $891 million, or $1.56
a share, compared with a net loss of $3.4 billion, or $5.98 a
share a year earlier.




Excluding such one-time items as charges related to
Delphi's bankruptcy, the company said it earned $2.48 a share.


Read more at Reuters.com Bonds News

Alcan profit slips on strong Canada dollar effect

(Reuters) - Fully diluted profit per share was $1.17 versus $1.20.




Excluding foreign currency effects and other exceptional items, profit was $603 million, or $1.62 a share, up from $556 million, or $1.48 a share.


Read more at Reuters.com Mergers News

CBS quarterly earnings, revenue drops

(Reuters) - Revenue fell 3 percent to $3.4 billion.




Read more at Reuters.com Market News

Wall Street set for firmer start

(Reuters) - In focus will be a series of economic data, including consumer confidence data fur July at 1400 GMT, June's personal consumption expenditures data at 1230 GMT and July's Chicago PMI at 1345 GMT as well as construction spending data for June at 1400 GMT.




Investors hope to get an indication of whether the weakness in the subprime mortgage sector has spread to consumers yet, Heinz-Gerd Sonnenschein from Germany's Postbank said.


Read more at Reuters.com Hot Stocks News

Merrill eyes new China partner for securities JV

(Reuters) - By George Chen



SHANGHAI, July 31 - Merrill Lynch is looking for new partner to set up its investment banking joint venture in China, after calling off a proposed partnership with Huaan Securities, sources close to the deal said on Tuesday.


Read more at Reuters.com Mergers News

Botswana June credit growth slows, still over target

(Reuters) - Botswana credit demand growth slowed to 17.5 percent year-on-year in June, but remained above the central bank's target range, official data showed on Tuesday.

The central bank said growth in commercial bank credit eased from 20.6 percent year-on-year in May, largely due to a sharp decline in credit growth to the business sector.


Read more at Reuters Africa

RPT-C-BASS says in talks to increase liquidity

(Reuters) - C-BASS, which invests in the credit risk of subprime
residential mortgages, said it was exploring all options to
mitigate the liquidity risk in a difficult market.




The comments come after MGIC said it could be forced to
write down the entire value of a $516 million investment it made
in C-BASS.


Read more at Reuters.com Bonds News

UPDATE 2-MUFG, Mizuho post Q1 falls, stick to forecasts

(Reuters) - Although Japan's large banks are beginning to see some
benefit from rising interest rates, slack corporate demand for
credit and fierce competition have kept a lid on how much they
can charge borrowers.




The Bank of Japan began raising rates from zero last year,
ending more than half a decade of essentially free money.
Investors having been betting those rises will allow banks to
charge more for loans, even as they hold down the return paid to
depositors.


Read more at Reuters.com Market News

MUFG Q1 profit falls 31 pct, sticks to forecast

(Reuters) - The bank kept its estimate that profit will slide 9.2 percent
this year to 800 billion yen, short of a forecast of 859.14
billion yen in a poll of 14 analysts by Reuters Estimates. The
analysts did not give quarterly earnings forecasts.




Japan's large banks are beginning to see some benefit from
rising interest rates, although slack corporate demand for credit
and fierce competition have kept a lid on how much they can
charge borrowers.


Read more at Reuters.com Market News

Nike to pay $7.6 mln to settle race-bias suit

(Reuters) - Nike has denied all allegations of wrongdoing and liability in the litigation, according to the filing.




In March last year, the court certified a class that included all current and former black employees of Niketown Chicago from December 17, 1999 to the present, along with four subclasses, according to the filing.


Read more at Reuters.com Business News

Rexam profits fall as expected, sees year in line

(Reuters) - LONDON, July 31 - Rexam Plc , the world's biggest drinks-can maker, posted an expected fall in first-half profits, due to higher aluminium costs and a weak dollar, and said it expected the full year to be in line with expectations.



Underlying pretax profit was 98 million pounds in the six months to June 30, down from 121 million last year and compared with an average forecast of 98.53 million in a Reuters Estimates poll of four analysts, the packaging company said on Tuesday.


Read more at Reuters.com Market News

IMF chief warns of globalisation risks

(Reuters) - The head of the International Monetary Fund warned on Tuesday that global investment and growth prospects were at risk from a dramatic rise in private equity buy-outs and threats posed by financial globalisation.

Rodrigo Rato said the trouble in the U.S. subprime housing market was an example of such risks and called for a fresh look at lenders' underwriting standards and more borrower education.


Read more at Reuters Africa

Consumer Spending Probably Slowed in June on Gas Prices, Economists Say

(Bloomberg) -- Consumer spending in the U.S. rose
in June at the slowest pace in nine months as near-record
gasoline prices and falling home values forced Americans to cut
back, economists said ahead of a government report today.

Spending increased 0.1 percent after rising 0.5 percent in
May, according to the median of 77 estimates in a Bloomberg News
survey before the Commerce Department release. The report's
inflation measures may show little change.


Read more at Bloomberg Bonds News

URPT-PDATE 1-Alcatel-Lucent Q2 net loss wider than forecast

(Reuters) - The Franco-American telecoms equipment provider on Tuesday
reported a net loss of 336 million euros for
the three months to June 30 against a profit of 302 million
euros the previous year and compared with expectations of a
147.1 million loss, based on a Reuters poll of 10 analysts.
The company, which also confirmed its full-year sales growth
expectations, added the outcome included a negative impact of
176 million euros which included a mix of exceptional gains and
charges.
The company said the net loss included an impairment charge
of 298 million euros related to a re-evaluation of its W-CDMA
mobile assets which analysts did not expect.




Alcatel of France and Lucent of the United States started
operating as a combined business on Dec. 1 last year.


Read more at Reuters.com Market News

Carrefour Wins Shoppers, Investors as Food Scares Grip Chinese Consumers

(Bloomberg) -- Wang Daying no longer buys her pork
straight off the carcass. These days, the doctor shops at an
underground, air-conditioned Carrefour SA store in north Beijing.

``Big supermarkets have quality safeguards, particularly
foreign companies,'' said Wang, 69. ``I've become more
cautious.''


Read more at Bloomberg Emerging Markets News

Takeda first-quarter profit rises 5.1 percent

(Reuters) - Takeda said April-June first-quarter net profit climbed to
131 billion yen on a 9.6 percent rise in revenue from a year
earlier.




The company left its projection of annual net earnings
unchanged at 380 billion yen, compared with a consensus of 392
billion yen from 19 analysts polled by Reuters Estimates.


Read more at Reuters.com Market News

Nike offers to extend contracts at Indonesia firms

(Reuters) - Nike had said earlier in July it would cease taking orders at the factories owned by Central Cipta Murdaya -- PT Hardaya Aneka Shoes Industry and Nagasakti Paramashoes Industry -- at the end of 2007.




The decision, which Nike said it made after the firms failed to meet its standards, sparked street protests by thousands of employees from both factories.


Read more at Reuters.com Business News

Trichet, Poised to Raise Interest Rates, Follows in Bundesbank Footsteps

(Bloomberg) -- The European Central Bank might be
run by a Frenchman; its heart and soul belong to Germany's
Bundesbank.

ECB President Jean-Claude Trichet faces political pressure
to stop raising interest rates, and some of his own policy
makers query the extent of the inflation threat in Europe.
Still, investors are betting he'll push borrowing costs higher,
upholding the legacy of Germany's central bank, which celebrates
its 50th anniversary tomorrow.


Read more at Bloomberg Bonds News

Cnooc Parent First-Half Pretax Profit Reaches $3.4 Billion as Output Rises

(Bloomberg) -- China National Offshore Oil Corp.,
parent of the nation's biggest offshore oil producer, posted a
pretax profit of 25.7 billion yuan ($3.4 billion) in the first
six months on increased output.

Sales reached 72 billion yuan, the Beijing-based oil
producer said in a statement on its Web site today, without
giving year-earlier figures.


Read more at Bloomberg Emerging Markets News

Euro May Extened Losses to 159.88 Yen on Technical Charts, MUFG Predicts

(Bloomberg) -- The euro may fall to a three-month
low of 159.88 yen in the next few days, provided it fails to hold
above 163.29, said Masashi Hashimoto, currency analyst at Bank of
Tokyo-Mitsubishi UFJ Ltd. in Tokyo.

Resistance at 163.29 is the common European currency's
average price over the past five days. Support at 159.88 is a 50
percent retracement of the euro's rise from a March 6 low of
150.76 to a record high of 168.99 on July 23, according to a
series of numbers known as the Fibonacci sequence. Moving average
convergence/divergence, a momentum indicator, also suggests
further declines.


Read more at Bloomberg Currencies News

UPDATE 4-Cameco profit jumps, but shares underperform

(Reuters) - TORONTO, July 30 - Cameco Corp.'s
second-quarter profit jumped 37 percent on higher uranium sales
and prices, but its shares continued to struggle as the results
did little to lift the recent cloud of bad news shadowing the
company.




The world's top uranium producer said on Monday it earned
C$205 million , or 55 Canadian cents a share,
in the quarter ended June 30, up sharply from C$150 million, or
40 Canadian cents a share, a year earlier.


Read more at Reuters.com Market News

Corporate Bond Risk Falls in Japan From Highest in More Than Two Years

(Bloomberg) -- Japanese corporate bond risk fell
from the highest in more than two years, credit-default swaps
show.

Contracts based on 1 billion yen ($8.4 million) of debt
included in the iTraxx Japan Series 7 Index of 50 investment-
grade Japanese companies declined to 3.7 million yen today in
Tokyo from 4.1 million yen yesterday, according to prices from
JPMorgan Chase & Co.


Read more at Bloomberg Bonds News

Rent-A-Center profit up, outlook cut

(Reuters) - Total revenue was $724.2 million, a 24.1 percent increase from the previous year.




Same-store sales, at outlets open at least a year, rose 2.7 percent.


Read more at Reuters.com Market News

South Korea's Kospi Index Rises; Samsung, Posco, Doosan Infracore Gain

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.46 percent at 9:05 a.m.

The index of 732 companies traded on the Korea Exchange rose
8.80 to 1,915.51. Among the stocks in the index, 415 rose, 134
fell and 183 were unchanged.


Read more at Bloomberg Stocks News

UPDATE 2-Peltz gives Wendy's Wednesday deadline

(Reuters) - LOS ANGELES, July 30 - Billionaire Nelson Peltz
said on Monday his Triarc Cos. Inc. could offer up to
$41 a share for Wendy's International Inc. , but would
consider other alternatives if the struggling hamburger chain
did not sign his confidentiality agreement by Wednesday.




In a letter to Wendy's Chairman James Pickett, Peltz said
Arby's parent Triarc would be willing to pay between $37 and
$41 a share for Wendy's -- a roughly 10 to 20 percent premium
to the company's closing share price of $33.69 on Monday.


Read more at Reuters.com Bonds News

Manitowoc second-quarter profit rises

(Reuters) - Net sales were $1.02 billion, compared with $746.2 million
a year ago.





Read more at Reuters.com Market News

UPDATE 1-Triarc could offer $37 to $41/share for Wendy's

(Reuters) - But Peltz said if Wendy's did not agree to a confidentiality
agreement that he proposed by the end of the day on Wednesday,
Triarc would consider other alternatives.




Wendy's shares closed at $33.69 on Monday, and Peltz' offer
represents a roughly 10 percent to 22 percent premium to that
price.


Read more at Reuters.com Mergers News

Canadian Stocks Rise, Rebounding From Rout; Barrick Gold Shares Advance

(Bloomberg) -- Canadian stocks rose after investors
speculated that the biggest weekly sell-off in almost six years
was overdone given that demand for commodities may keep boosting
prices and earnings and trigger more takeovers.

Barrick Gold Corp. and Petro-Canada paced gains in raw-
material and energy shares, which had among the biggest declines
last week, on higher prices for bullion and natural gas.


Read more at Bloomberg Stocks News

S&P raises 31 classes of Bear Stearns issued ABS

(Reuters) - "The upgrades affecting the 2002 to 2004 vintage deals
reflect low cumulative losses, low delinquencies, and credit
enhancement percentages that are more than sufficient to
support the higher ratings," S&P said in a statement.




S&P also affirmed its ratings on 553 classes of
mortgage-backed debt sold between 2000 and 2007. It also cut
its rating on one class of a deal sold in 2001.


Read more at Reuters.com Bonds News

UPDATE 1-U.S. credit markets rally after earlier weakness

(Reuters) - The main index of investment-grade credit default swaps is
about 8 basis points tighter on the day, at around 72.75 basis
points, after widening to around 100 basis points earlier. A
high-volatility index is now 20 basis points tighter on the day
at 172.5 basis points, after widening earlier to 210 basis
points.




It's "a complete roller-coaster," said Mirko Mikelic,
portfolio manager at Fifth Third Asset Management in Grand
Rapids, Michigan. "People are attributing to the
Morgan Stanley upgrade."


Read more at Reuters.com Bonds News

UPDATE 1-Community Health 2nd-qtr profit up pct

(Reuters) - Second-quarter profit increased to $53.8 million, or 57
cents per share, from $52.4 million, or 54 cents per share, a
year earlier.




The latest result matched the average analyst estimate of
57 cents per share, according to Reuters Estimates.


Read more at Reuters.com Mergers News

Dow Jones, Graham, Ingersoll and Rural Cellular: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges. Stock
symbols are in parentheses after company names. Share prices are
as of 4 p.m. in New York.

Some mortgage lenders fell after American Home Mortgage
Investment Corp. (AHM US) delayed its quarterly dividend and
raised doubts about whether it has enough cash to stay in
business. Shares of American Home were halted.


Read more at Bloomberg Stocks News

B&G Foods posts higher quarterly profit

(Reuters) - Earnings per share of Class A common stock rose to 17
cents, from 14 cents, a year ago.




The Parsippany, New Jersey-based company's net sales rose
12.3 percent to $118.2 million.


Read more at Reuters.com Market News

UPDATE 1-Union ratifies deal in Goodyear unit sale

(Reuters) - United Steelworkers members at four plants approved the
contract last week and the central union resolved remaining
issues with Carlyle over the weekend related to establishing a
secure trust for retiree health care.




Goodyear, the largest U.S. tire maker, agreed to sell the
unit to Carlyle for $1.48 billion earlier this year. Goodyear
has said it expects to complete the sale in the third quarter.
The sale was contingent on the new union contract.


Read more at Reuters.com Mergers News

UPDATE 1-US corporate bond market losing dominance - NY Fed

(Reuters) - Corporate bond issuance in the Eurobond market exceeded
those of the U.S. bond market in 2006.




U.S issuers followed the trend by relying more on the
Eurobond market for funding, a study titled "Evaluating the
Relative Strength of the U.S. Capital Markets" showed.


Read more at Reuters.com Bonds News

Dollar Declines Against the Euro as Safe-Haven Buying Subsides on Risks

(Bloomberg) -- The dollar fell the most in almost
three weeks against the euro as a rebound in U.S. stocks reduced
investors' need for safe-haven buying in the currency.

The U.S. currency gained the most last week since January as
subprime losses encouraged investors to avoid riskier assets and
seek haven in the dollar. The Standard & Poor's 500 Index rose
from its steepest weekly decline since September 2002. Treasuries
declined amid reduced need for the safety of government debt.


Read more at Bloomberg Currencies News

Alberto-Culver profit falls, still eyeing deals

(Reuters) - The company, which makes such products as Alberto VO5 shampoo, is still looking for acquisitions, particularly in skin care and possibly beauty care, Chief Executive V. James Marino told Reuters.




Alberto-Culver is a smaller company focused on consumer products after spinning off Sally Beauty Holdings Inc. , its retail arm and the larger of its two businesses, in November. The company announced a restructuring plan in December.


Read more at Reuters.com Market News

TREASURIES-Bonds slip to session lows as stocks rise

(Reuters) - The Dow Jones industrial average rose 0.4 percent.




Read more at Reuters.com Bonds News

US STOCKS-Indexes gain on profit hopes in seesaw trading

(Reuters) - The Dow Jones industrial average was up 57.72
points, or 0.44 percent, at 13,323.19. The Standard & Poor's
500 Index was up 7.79 points, or 0.53 percent, at
1,466.74. The Nasdaq Composite Index was up 12.69
points, or 0.50 percent, at 2,574.93.




Read more at Reuters.com Bonds News

U.S. Stocks Rebound on Earnings; Ingersoll-Rand, Home Depot Shares Advance

(Bloomberg) -- U.S. stocks rebounded from a $2.1
trillion global sell-off after better-than-forecast earnings
and takeovers eased concern that the housing slump will curb
profits.

Ingersoll-Rand Co. jumped the most in six weeks after
agreeing to sell its Bobcat machinery unit. Home Depot Inc.
jumped after Barron's said shares of the world's largest home-
improvement retailer could double in the next three years.


Read more at Bloomberg Stocks News

Loews profit up despite investment losses

(Reuters) - CNA suffered $91 million of investment losses, up from $64 million a year earlier, hurt by rising interest rates and a $20 million writedown related to subprime debt. This contributed to a 9 percent decline in quarterly profit. Most of the losses appeared in results of Loews, which owns 89 percent of CNA.




Loews shares fell as much as 8.7 percent, and CNA as much as 12.3 percent.


Read more at Reuters.com Hot Stocks News

Deripaska company says not bidding for Ford brands

(Reuters) - "There is no interest from my company or from our subsidiary
Gaz in any of these brands," said a spokesman for Russian
Machines, the engineering and automotive arm of Deripaska's
Basic Element group, on Monday.




The comment came as some potential bidders that had
expressed interest in the units earlier in July start several
weeks of due diligence.


Read more at Reuters.com Mergers News

Union ratifies deal needed for Goodyear unit sale

(Reuters) - The union said local members at four plants accepted the agreement last week and the main union resolved remaining issues with Carlyle over the weekend related to establishing a secure trust for retiree health care.



The contract runs five years and is similar to a deal the union reached with Goodyear before the tiremaker agreed to sell the unit to Carlyle for $1.48 billion. Goodyear has said it expects to complete the sale in the third quarter.


Read more at Reuters.com Mergers News

S.African stocks firmer, led by resources and banks

(Reuters) - Heavyweight miners Anglo American and BHP Billiton and bank shares led South Africa's bourse higher on Monday after sliding over 3 percent last Friday, spooked by a global market sell-off.

A Johannesburg-based trader said both Anglo and Billiton were recovering from being oversold last week, along with other resource stocks and banks.


Read more at Reuters Africa

European Carbon Emissions Permits Climb After Rise in German Power Prices

(Bloomberg) -- European Union carbon dioxide
permits rose to the highest in almost three weeks, following
rising energy prices including German electricity.

Permits for December 2008 gained for a fifth day, climbing
as much as 50 cents, or 2.5 percent, to 20.80 euros ($28.43) a
metric ton on the European Climate Exchange in Amsterdam. They
traded at 20.65 euros at 3:23 p.m. local time.


Read more at Bloomberg Energy News

Treasuries Fall as Yields Near Lowest in Two Months Fail to Attract Buyers

(Bloomberg) -- Treasuries declined as 10-year note
yields near the lowest level in more than two months failed to
attract buyers.

A gauge of momentum shows 10-year yields are poised to rise
after dropping more than half a percentage point since peaking
at 5.327 percent on June 13. U.S. government debt rose last week
for a third straight week on bets rising defaults on home loans
to people with poor credit histories will hurt the economy.


Read more at Bloomberg Bonds News

S.Africa biofuel subsidy unlikely, says minister

(Reuters) - South Africa is unlikely to introduce subsidies to support a biofuels programme that has been billed as a lifeline for the struggling farming sector, a cabinet minister said on Monday.

The Southern African Biofuels Association says it needs between 2 billion rand and five billion rand a year from the government to get a capital intensive industry off the ground.


Read more at Reuters Africa

New York Mortgage confirms trust preferred dividend payment

(Reuters) - The real estate investment trust said it has no outstanding warehouse lines, and it exited the mortgage lending business in March.



On July 3, the company had said it will not pay a dividend in the second quarter.


Read more at Reuters.com Bonds News

Foot Locker sees loss in 2nd quarter

(Reuters) - The company also confirmed that it retained Lehman Brothers to advise on strategic alternatives, including inquiries received from private-equity firms.



The largest retailer of athletic shoes and apparel now expects to post a loss of 17 cents to 20 cents a share, compared with its earlier outlook for a profit of 15 cents to 20 cents a share.


Read more at Reuters.com Mergers News