Reputation fears nag as Swiss trusts proliferate

(Reuters) - A change in Swiss law that will facilitate the use of trusts
has led to a surge in the number of such entities, which own
assets -- anything from equity, art collections, real estate or
even race horses -- on behalf of others.




"An awful lot of people are moving in, saying they're going
to be a trustee and that's it," said Stephanie Jarrett, a
partner at law firm Baker & McKenzie in Geneva.


Read more at Reuters.com Government Filings News

Depressed dollar/yen vols lure bargain hunters

(Reuters) - Option dealers in Tokyo cited a hedge fund buying on one-year implied volatility when it fell to an all-time low of 6.6 percent in mid-May, suggesting that vols may have bottomed out for the time being.




Implied volatility, a gauge of how much the options market thinks a currency pair will move over a given time period, has tumbled since early May as expectations for a Federal Reserve interest rate cut have receded, pushing the dollar back towards a 4-1/2-year peak of 122.20 yen hit in January.


Read more at Reuters.com Hot Stocks News

Advantage secures $2.6 bln for Tokyo Star-sources

(Reuters) - The structure of the financing will now be studied by Japan's regulatory watchdog the Financial Services Authority.



) Keywords: JAPAN TOKYO STAR ADVANTAGE


Read more at Reuters.com Bonds News

Vietnamese Dong Falls as Central Bank Increases Reserve Ratio From Today

(Bloomberg) -- The Vietnamese dong fell for a fourth
day after the central bank doubled the amount of deposits
commercial banks must set aside as reserves from today to help
cool inflation.

The currency headed for a third week of declines and traded
near the weakest in six months. State Bank of Vietnam Governor Le
Duc Thuy said on May 24 that the central bank had been selling
the dong to help exporters.


Read more at Bloomberg Currencies News

Oil above $68 after surprise U.S. crude stock draw

(Reuters) - London Brent crude oil in reaction to a fall in U.S. inventories when most people expected them to rise. But it's a fairly stable situation," said Andrew Harrington, industry analyst from ANZ Bank in Australia.


Read more at Reuters.com Hot Stocks News

Taiwan Dollar Heads for Best Week Since December on Central Bank Measures

(Bloomberg) -- Taiwan's dollar headed for the
biggest five-day rally since Dec. 1 on speculation the central
bank will curb declines after the currency last week reached a
17-month low.

The currency is set for a second weekly gain after the
central bank yesterday said mutual funds should invest more in
local stocks rather than sending money abroad. The island's
dollar yesterday touched the strongest since March 2.


Read more at Bloomberg Currencies News

Dow Jones to consider Murdoch bid, other offers

(Reuters) - The family earlier on Thursday said it would meet Murdoch, a softening of its earlier opposition to his $60-per-share offer for the company.




Read more at Reuters.com Business News

Australian Shares Gain, Led by BHP, Australia & New Zealand Banking Group

(Bloomberg) -- Australian stocks rose, led by BHP
Billiton Ltd. and Woodside Petroleum Ltd. after prices of
commodities including copper and crude oil gained.

The S&P/ASX 200 Index climbed 16.20, or 0.3 percent, to
6329.70 as of 10:13 a.m. in Sydney. About 12 stocks rose for every
five that fell.


Read more at Bloomberg Stocks News

Judge ponders dismissing KPMG case: experts

(Reuters) - In a filing on Thursday, U.S. District Judge Lewis Kaplan asked defense attorneys what sanctions other than dismissal of the entire indictment are available, and what steps the government could voluntarily take to remedy constitutional violations related to payment of the former partners' legal fees.




The questions indicated that the judge may want the government and the former KPMG partners to reach a settlement, one expert said.


Read more at Reuters.com Business News

UPDATE 1-Brinker to buy back more shares, sell 76 Chili's

(Reuters) - The restaurant company also said it would sell 76 Chili's
restaurants to franchisee ERJ Dining as part of a plan to
increase the number of franchised restaurants in its system.




Financial terms were not disclosed.


Read more at Reuters.com Mergers News

Crude Oil Is Steady After Rising on Concerns Over U.S. Gasoline Stockpiles

(Bloomberg) -- Crude oil was little changed in New
York after rising with gasoline yesterday on concern U.S.
refiners aren't increasing production fast enough to restore
fuel stockpiles for the summer.

Refiners used 91.1 percent of their plant capacity last
week, unchanged from the 19-week high reached the week before,
the Energy Department said yesterday. Below-average gasoline
stocks rose for a fourth week as imports jumped to their highest
in a year. Oil inventories fell for the first time in six weeks.


Read more at Bloomberg Energy News

US FCC moves to tighten wireless "E911" standards

(Reuters) - FCC commissioners voted to consider proposals to tighten
standards that wireless carriers must meet for the accuracy of
their so-called "E911" function, which allows public safety
workers to find someone who has dialed 911 from a cellular
telephone.




Under current standards, wireless carriers using some E911
systems must be able to determine a caller's location within
100 meters for 67 percent of the calls and 300 meters for 95
percent of the calls. Other systems are required to determine
location within 50 meters for 67 percent of calls and 150
meters for 95 percent of the calls.


Read more at Reuters.com Government Filings News

U.S. finalizes plan to speed flu vaccine development

(Reuters) - The recommendations, proposed in March 2006, were designed to help manufacturers use newer technology that allows vaccines to be made faster once a strain of flu is identified, and to encourage more companies to get into the vaccine business.




"Having additional manufacturers of licensed influenza vaccines will enhance the capacity to produce more doses of seasonal influenza vaccines, as well as contribute to the nation's pandemic preparedness, one of our top priorities," said Jesse Goodman, director of the U.S. Food and Drug Administration's Center for Biologics Evaluation and Research.


Read more at Reuters.com Government Filings News

Icahn asks WCI board to delay annual meeting

(Reuters) - Icahn said on May 21 that his all-cash tender offer of $22
a share for WCI had expired with none of the nearly 10.8
million shares tendered being bought by his affiliates.




Read more at Reuters.com Mergers News

Bush's Fed nominees are both multimillionaires

(Reuters) - Klane, most recently a vice president at credit card issuer
and financial services firm Capital One, listed assets worth as
much as $41 million but not less than $12 million.




Among Klane's widely diversified holdings are accounts with
at least three hedge funds worth between $500,000 and $1
million each.


Read more at Reuters.com Bonds News

Dollar Trades Near Three-Month High Versus Yen Before Employment Report

(Bloomberg) -- The dollar traded near a three-month
high against the yen before a U.S. government report forecast by
economists to show job growth accelerated last month.

Signs of strength in the labor market may add to evidence of
a rebound in the world's largest economy, reducing speculation on
an interest rate cut by the Federal Reserve this year. The dollar
in May posted its biggest monthly advance versus the yen since
August on economic reports showing advances in consumer
confidence, housing and manufacturing.


Read more at Bloomberg Currencies News

Gold gains 1.3 pct, rebounds on dollar decline

(Reuters) - But investors were reluctant to chase prices higher and the metal continued to hover in a trading range of $650-665 an ounce.




"It was driven by the exchange rate today, but we have been in the same range for three weeks and I don't see anything at the moment that will make me go long," said Michael Widmer, director of metal research at Calyon Corporate and Investment Bank.


Read more at Reuters.com Hot Stocks News

Portugal Telecom board approved Telemar contacts

(Reuters) - Portuguese daily Diario Economico reported on Wednesday that PT was considering a bid for Telemar, one of Brazil's largest telecoms companies.



"The board of directors approved on May 28 the re- establishment of contacts with certain Telemar shareholders in order to explore investment alternatives," PT said in a statement.


Read more at Reuters.com Mergers News

Foreign holdings of US securities climb - Treasury

(Reuters) - The Treasury said official holdings of U.S. securities
increased to $2.301 trillion by the end of June 2006 from
$1.938 trillion the year before.




Read more at Reuters.com Bonds News

Calpine to expand Geysers geothermal plant

(Reuters) - The company expects to spend $200 million to begin the
program and would consider further development if it is able to
enter into long-term power sales contracts, Calpine Chief
Executive Robert May said in a statement.




The Geysers, which is 72 miles north of San
Francisco, is the largest producer of geothermal energy in the
United States, tapping steam from hot rocks deep in the earth to
generate electricity.


Read more at Reuters.com Bonds News

Dutch TMG to take stake in German ProSieben-report

(Reuters) - In a preview Thursday of an article to be published on
Friday, the newspaper did not say how big TMG's stake in
ProSieben would be.




In exchange for the stake, TMG would forsake a right of
last refusal clause, which entitles it to buy the rest of SBS
if the company's majority owners, private equity firms Permira
[PERM.UL] and Kohlberg Kravis Roberts, [KKR.UL] opt to sell.


Read more at Reuters.com Mergers News

Highland, Pardus exploring Delphi investment

(Reuters) - Delphi, based in Troy, Michigan, previously rebuffed
Highland when the hedge fund proposed an alternative to the
$3.4 billion equity plan Delphi had developed with Cerberus
Capital Management LP, Appaloosa Management LP and others last
year.




It was not clear whether a proposal developed by Pardus
would involve or rival the $3.4 billion equity plan.


Read more at Reuters.com Bonds News

Crude Oil Climbs After U.S. Petroluem Inventories Unexpectedly Decline

(Bloomberg) -- Crude oil in New York rose after a
government report showed an unexpected decline in U.S.
inventories.

Supplies of crude oil fell 1.96 million barrels to 342.2
million barrels in the week ended May 25, the Energy Department
reported today. A gain of 1 million barrels was expected,
according a Bloomberg News survey. Gasoline stockpiles rose 1.36
million barrels to 198 million. Crude-oil imports fell 8 percent
and gasoline imports jumped 24 percent, the report showed.


Read more at Bloomberg Commodities News

Bayer buys Stoneville in $310 million deal

(Reuters) - Stoneville generated turnover of $45 million in its 2005/2006 fiscal year, Bayer said.




"This acquisition is expected to enhance the fast-growing U.S. cotton seed business of Bayer CropScience," it added.


Read more at Reuters.com Mergers News

Coffee, Little Changed in New York, May Fall on Favorable Brazil Weather

(Bloomberg) -- Coffee, little changed in New York,
may fall on forecasts of favorable weather in Brazil, the world's
biggest grower of the beans.

No damaging cold weather is expected in the near term in
Brazil's coffee-growing regions, with temperatures forecast to be
normal to below-normal, according to Meteorlogix LLC, a
forecaster in Woburn, Massachusetts.


Read more at Bloomberg Commodities News

Dubai's Leisurecorp buys S.Africa golf course

(Reuters) - State-owned Dubai World said on Thursday it bought a golf-course development in South Africa, without giving a value for the transaction.

Leisurecorp, a unit of Dubai World's Istithmar, made the purchase of the 170-hectare Pearl Valley Signature Golf Estate and Spa in the Cape Winelands area in the south of the country, Dubai World said in a statement.


Read more at Reuters Africa

Moody's cuts Beazer, Hovnanian debt deeper into junk

(Reuters) - "The downgrade is based on Moody's projections that the
company will come very close to violating its 2.0 times
interest coverage covenant in fiscal 2007," Moody's said. "The
downgrade also reflects the deterioration of the company's
other earnings-based metrics, including return on assets and
gross margins, into the B ratings category."




Moody's cut Beazer's corporate family rating by one notch
to "Ba2," two levels below investment grade, from "Ba1." The
outlook is negative, indicating an additional cut is likely
over the next 12 to 18 months.


Read more at Reuters.com Bonds News

Five winners picked for big telecoms contract

(Reuters) - This is the second of two contracts that comprise the government's Networx program, which is designed to overhaul federal agencies' telecommunication services.




The General Services Administration picked AT&T, Verizon Communications and Qwest for the first contract worth up to $48 billion.


Read more at Reuters.com Business News

Peruvian Stocks Rebound, Gaining Most in 12 Years: World's Biggest Mover

(Bloomberg) -- Peru's main stock index rose the most in
12 years as investors bet a five-day plunge brought share prices
back in line with earnings prospects.

The Lima General Index climbed 1219.26, or 6.6 percent, to
19,763.08 at 11:23 a.m. New York time, its steepest gain since
April 1995 and the biggest move among markets included in global
benchmarks.


Read more at Bloomberg Stocks News

Dell, Direct-Sales Icon, Tries Wal-Mart in Bid to Revive Profit Growth

(Bloomberg) -- Dell Inc. founder Michael Dell built
the world's largest personal-computer maker by bypassing
retailers and selling directly to customers. Now he's looking to
the people he snubbed to help reclaim the No. 1 spot from
Hewlett-Packard Co.

Dell last week said it will sell PCs at Wal-Mart Stores Inc.
starting June 10. The Round Rock, Texas, company may give details
of the new retail strategy today, when it reports earnings.
Profit probably fell for a fourth quarter in five, analysts
surveyed by Bloomberg say.


Read more at Bloomberg Exclusive News

CBOT defends CME merger proposal

(Reuters) - The letter cited the ability of CME and CBOT to integrate
"quickly and efficiently" with "relatively low execution risk"
compared with the ICE proposal.




"Minimizing surprises ... are in part what makes for a
successful merger," Dan and Carey said.


Read more at Reuters.com Mergers News

TREASURIES-U.S. 10-year yields highest since Aug 2006

(Reuters) - Bond prices and yields move inversely.




Read more at Reuters.com Bonds News

UPDATE 3-Canada economy surges, stage set for rate hike

(Reuters) - OTTAWA, May 31 - The Canadian economy grew more
than twice as fast in the first quarter of 2007 as in the
previous quarter, setting the stage for the Bank of Canada to
begin hiking interest rates soon.




Statistics Canada said on Thursday that gross domestic
product grew 3.7 percent on an annualized basis, topping
analysts' estimate of a 3.5 percent gain and up from 1.5
percent in the fourth quarter. It was the fastest quarterly
growth clip since the third quarter of 2005.


Read more at Reuters.com Bonds News

Treasury 10-Year Yield at 2007 High on Chicago Business Index Increase

(Bloomberg) -- U.S. Treasuries fell the most in
almost two weeks, pushing the benchmark 10-year note's yield to
its highest level of this year, after a measure of business
activity rose more than forecast in May.

Expectations the Federal Reserve will cut interest rates
this year fell to the lowest since last July as the National
Association for Purchasing Management-Chicago report indicated
the economy is rebounding from a first-quarter slowdown. U.S.
equities extended an advance that yesterday pushed the Standard &
Poor's 500 Index to a record.


Read more at Bloomberg Bonds News

US Midwest business expands strongly in May

(Reuters) - The employment component of the index jumped to 57.3 from
50.5 in April. Prices paid rose to 70.2 from 64.9 and new
orders surged to 71.1 from 56.5.




Read more at Reuters.com Economic News

Cocoa Deficit to Widen to 145,000 Tons This Year, Organization Forecasts

(Bloomberg) -- The global cocoa deficit this year
will be larger than previously forecast after adverse weather
hurt crops in Ivory Coast, Ghana and Indonesia, the top
producing countries, the International Cocoa Organization said.

Production will drop 7.5 percent to 3.44 million tons,
falling short of demand by 145,000 tons, Laurent Pipitone,
senior statistician at the London-based ICCO, said today in an
interview. The organization forecast in March a deficit of
103,000 tons.


Read more at Bloomberg Commodities News

Eastern Europe Needs Ambitious Budget Deficit Targets, World Bank Says

(Bloomberg) -- The European Union's 10 eastern
countries should take ``adequate advantage'' of fast economic
growth to improve public finances, the World Bank said.

Particularly Latvia, Bulgaria and Romania need more
``ambitious fiscal policy'' to curb economic imbalances such as
wide current-account gaps and high inflation leading to
overheating, the bank said today in its regular report on the
development of the EU's 10 eastern nations.


Read more at Bloomberg Emerging Markets News

Copper Futures Advance in New York as Inventories Fall to Seven-Month Low

(Bloomberg) -- Copper futures in New York rose to the
highest in more than a week after inventories monitored by the
London Metal Exchange fell for a ninth day.

Stockpiles in London fell 1 percent to 128,925 metric tons
today, the lowest since Oct. 27. Supplies of the metal monitored
by the LME have dropped 30 percent in 2007 as imports into China
rose to record levels. Copper has rallied 17 percent this year as
inventories dwindled and demand rose in China, the world's
biggest consumer of the metal used in pipes and wires.


Read more at Bloomberg Commodities News

Eaton Vance's Tooke Turns Around Small-Cap Fund With `Unloved' U.S. Stocks

(Bloomberg) -- Nancy Tooke, the third manager of
Eaton Vance Corp.'s Tax Managed Small Cap Growth Fund since 2003,
is turning the fund around after a six-year slump.

The fund ranks first this year in its class of 235
competitors after rising 17 percent, data compiled by Bloomberg
show. The 60-year-old Tooke revived performance by investing in
what she calls ``unloved, undervalued'' companies such as
seismic-data designer Input/Output Inc. and ball-bearings maker
RBC Bearings Inc. Shares of Input/Output surged 67 percent in the
past year and RBC Bearings advanced 54 percent.


Read more at Bloomberg Exclusive News

Japan's Five-Year Government Notes Drop, Have Worst Month Since March 2006

(Bloomberg) -- Japan's five-year government notes had
the biggest monthly decline in more than a year on speculation
advancing stocks will back the case for the central bank to raise
interest rates this year.

Government reports this week showed the jobless rate dropped
to a nine-year low and households increased spending for a fourth
month. Bank of Japan policy board member Kiyohiko Nishimura said
the market ``appears to be factoring in future rate adjustments
in a gradual manner.'' Yields on two-year notes climbed to the
highest in almost a decade as the Nikkei 225 Stock Average rose
to a three-month high.


Read more at Bloomberg Bonds News

REFILE Derivatives traders see 121,200 gain in US payrolls

(Reuters) - That compares with prevailing forecasts on Wall Street
around 130,000. The Labor Department report is due out on
Friday at 8:30 a.m. .




Traders use the auctions to hedge against surprises in the
report or speculate on the outcome.


Read more at Reuters.com Economic News

Genesco first-quarter profit falls

(Reuters) - The Nashville, Tennessee-based company reported first-quarter net income of $2.2 million, or 10 cents a share, versus $10.5 million, or 40 cents a share, a year earlier. Net income included asset impairment charges of 15 cents a share.



Net sales rose 6 percent to $334.7 million.


Read more at Reuters.com Market News

Tiffany reports higher profit

(Reuters) - Earnings were a penny above the analysts' average forecast of 35 cents a share, according to Reuters Estimates.




Sales rose 15 percent to $620.9 million, helped by growth in most markets except for Japan.


Read more at Reuters.com Hot Stocks News

Jordanian Stocks Rise, Paced by Arab Bank Shares: World's Biggest Mover

(Bloomberg) -- Jordan's main stock index gained for
the first time in nine days on speculation the shares have become
cheap relative to prospects for earnings growth. Arab Bank Plc,
the country's largest lender, led the advance.

The Amman Stock Exchange General Index added 2.9 percent to
5831.06 at the close, the biggest move among markets included in
global benchmarks. The measure dropped 3.8 percent during its
latest losing streak and is down 5.2 percent so far this quarter.


Read more at Bloomberg Stocks News

Canada's Dollar Strengthens on Optimism About Economic Growth Prospects

(Bloomberg) -- The Canadian dollar rose, approaching
the 30-year high reached this week, on optimism of a government
report will show the nation's economy in the first-quarter
expanded at the fastest pace in two years.

The currency rose to 93.45 U.S. cents at 8:01 a.m. in
Toronto from 93.09 U.S. cents yesterday. It reached 93.56 U.S.
cents yesterday, the highest since July 1977. One U.S. dollar
buys C$1.0701.


Read more at Bloomberg Currencies News

Global sugar prices set for further falls - ISO

(Reuters) - Global sugar prices are likely to fall as strong Brazilian and Indian crops come on to the market, a senior economist with the London-based International Sugar Organization (ISO) said on Thursday.

Indian sugar harvest estimates were frequently being revised upwards, which would lead to the 2006/07 world sugar surplus swelling beyond the ISO's latest estimate of 9.1 million tonnes, the body's Sergey Gudoshnikov said.


Read more at Reuters Africa

FTSE 100 Stocks Gain, Led by Johnson Matthey, HBOS, BHP Billion Shares

(Bloomberg) -- U.K. stocks advanced, led by
Johnson Matthey Plc and HBOS Plc on broker recommendations.

Shares of BHP Billiton gained after the world's
largest mining company promoted Marius Kloppers to chief
executive officer, succeeding Charles ``Chip'' Goodyear.


Read more at Bloomberg Stocks News

Papua New Guinea May Produce 20 Million Tons a Year of LNG in 10-15 Years

(Bloomberg) -- Papua New Guinea may produce as much as 20
million metric tons a year of liquefied natural gas within 10 to 15
years, said Jack Hamilton, chief executive officer of Liquid Niugini
Gas Ltd.

The Pacific nation, which doesn't have LNG production yet, has
plenty of gas to support a gas export industry, Hamilton said today
at the South East Asia Australia Offshore Conference in Darwin.


Read more at Bloomberg Energy News

S.Africa April PPI quickens to 11.1 pct y/y

(Reuters) - South Africa's producer price inflation accelerated to 11.1 percent year-on-year in April after a 10.3 percent increase in March, far above forecasts, official data showed on Thursday.

On a monthly basis, PPI increased by 1.7 percent after a 1.2 percent increase in March.


Read more at Reuters Africa

Norilsk says Finnish regulator clears LionOre bid

(Reuters) - Russian metals giant Norilsk Nickel said on Wednesday it had received clearance from Finland's competition authority for its offer to buy Canadian miner LionOre.

Norilsk last Wednesday increased its bid for LionOre Mining International Ltd. to C$6.8 billion, raising the stakes in its battle with Xstrata Plc for the world's 10th-largest nickel producer.


Read more at Reuters Africa

Dollar steady near 7-week high vs euro, data eyed

(Reuters) - The dollar held near a seven-week high against the euro on Thursday as investors awaited a slew of U.S. data that could further cool expectations for the Federal Reserve to trim interest rates later in the year.

Revised U.S. data on first-quarter growth at 1230 GMT is forecast to show a downward revision from the initial estimate, but the May non-farm payrolls report on Friday is expected to show a rise, while a snapshot of manufacturing activity, also due on Friday, is seen holding up well in May.


Read more at Reuters Africa

Yen Volatility Prices `Too Good to Be True,' May Rise From 11-Year Low

(Bloomberg) -- Japanese yen option volatility may be
poised to rise from an 11-year low, drawing traders to wager on
appreciation of the yen and prospects that volatility won't
remain below historical levels.

Volatility on options granting the right to buy or sell yen
against the dollar in one year is nearly 1 percentage point below
measures of previous, average currency swings. Such a difference
may trigger trading models that hedge funds use to purchase
options.


Read more at Bloomberg Currencies News

Monster U.S. online jobs index rises in May

(Reuters) - The index showed a year-over-year growth of 13 percent, slower than the 14 percent in April, it said.




"Despite registering a more moderate annual rate of increase compared to the same period last year, the Monster Employment Index has shown stepwise growth in online job availability since the beginning of the year, and also points to a relatively stable U.S. labor market at the mid-point of second quarter," said Steve Pogorzelski, Group President, International at Monster Worldwide.


Read more at Reuters.com Business News

ADA-ES files shelf for up to 3 million shares

(Reuters) - 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

US HIGH YIELD-Spreads at record low but concerns mount

(Reuters) - Average junk bond yields fell to 242 basis points more than
U.S. Treasuries on Tuesday, down from a recent high of 299
basis points on March 5, according to Merrill Lynch data.




The previous record low spread of 244 basis points was set
in 1997 and was matched last Wednesday, according to Merrill
Lynch.


Read more at Reuters.com Bonds News

Brocade ex-CEO loses bid to dismiss charges

(Reuters) - Breyer wrote in his opinion that the indictment passed
legal muster.




It was the second time Breyer has turned down Reyes'
request to have portions of the indictment dismissed. Breyer in
March denied a motion contending the indictment failed to
properly allege that Reyes and Brocade's former human resources
vice president, Stephanie Jensen, betrayed the company through
fraud.


Read more at Reuters.com Government Filings News

UPDATE 1-Jo-Ann Stores' quarterly loss narrows

(Reuters) - The company said its first-quarter net loss narrowed to
$1.7 million, or 7 cents a share, from $6.6 million, or 28
cents a share, a year earlier.




Net sales slipped 0.1 percent to a lower-than-expected
$424.2 million. But sales at stores open at least a year, a key
retail measure known as same-store sales, rose 1.8 percent for
the quarter, versus a year-ago decline of 3.9 percent.


Read more at Reuters.com Market News

Cattle Futures Fall Most in Four Months as Beef Demand Slows; Hogs Gain

(Bloomberg) -- Cattle futures fell to the lowest in
almost four months on speculation demand for beef declined after
the U.S. Memorial Day holiday. Hog futures rose.

About 258,000 head of cattle have been slaughtered so far
this week, compared with 378,000 last week and 260,000 during
the same period a year ago, according to the U.S. Department of
Agriculture. That indicates less demand from retailers, said Dan
Vaught, an analyst at A.G. Edwards & Sons Inc. in St. Louis.


Read more at Bloomberg Commodities News

FACTBOX: Thai court bans Thaksin, party

(Reuters) - KEY POINTS:




- Thaksin's Thai Rak Thai party, which won landslide election victories in 2001 and 2005, was found guilty of breaking election laws in last year's inconclusive poll, which he had called to defuse street protests against him.


Read more at Reuters.com Bonds News

Coffee Futures Rise in New York as Cooler Winter Weather Arrives in Brazil

(Bloomberg) -- Coffee futures rose for the first
time in three sessions in New York as winter arrived in Brazil,
the largest producer.

High pressure along the Argentina-Uruguay border brought
cooler weather to the coffee belt, especially in northern Parana
state in Brazil, according to Meteorlogix LLC in Woburn,
Massachusetts. Temperatures will moderate into early next week
then turn cooler again, though no crop-damaging freeze is
expected, the private forecaster said.


Read more at Bloomberg Commodities News

Yen Rebounds From Record Low Against Euro as Chinese Stocks Slump on Tax

(Bloomberg) -- The yen rose from a record low versus
the euro after Chinese stocks slumped and investors sold
emerging-market assets bought with money borrowed in Japan.

The yen gained against 12 of the 16 most actively traded
currencies after China raised a tax on securities transactions
to stem surging share prices. The yen has fallen 3.7 percent
versus the euro this year as investors take advantage of
borrowing costs in Japan that are the lowest among major
economies to fund investment in higher-yielding assets
elsewhere.


Read more at Bloomberg Currencies News

Salesforce up on speculation of Google deal

(Reuters) - Analysts said the announcement could be an expansion of a relationship between Salesforce and No. 1 Web search provider Google. Salesforce declined to give more details.




The two companies provide software over the Web through what is known as an on-demand model. Salesforce sells software to help companies manage sales and marketing. Google's business software include products for searching corporate databases, as well as recently launched programs that big companies can use for word processing, presentations and spreadsheets.


Read more at Reuters.com Mergers News

Peruvian Stocks Slides Most in 12 Years on Copper: World's Biggest Mover

(Bloomberg) -- Peru's main stock index fell the most in
more than 12 years, led by miner Sociedad Minera Cerro Verde SA, as
the price of copper dropped on concern over Chinese demand.

The Lima General Index plunged 1587.44, or 7.9 percent, the
most since January 1995, to 18,479.33 at 12:08 p.m. New York time.
It was the biggest move among markets included in global
benchmarks.


Read more at Bloomberg Stocks News

Corn, Soybeans Rally as Dry Weather Damages Fields in Southwestern U.S.

(Bloomberg) -- Corn rose the most in more than two
weeks in Chicago and soybeans gained after a government report
showed warm, dry weather was increasing drought stress on crops
from Arkansas to North Carolina.

Corn crop ratings fell in 10 of the top 18 producing states
as dry weather stunted early plant development in growing areas
outside of the Midwest, the U.S. Department of Agriculture said.
Dry soils also slowed soybean emergence and increased drought
stress in the southeast. Excessive rains have hurt crops in
Kansas and Missouri.


Read more at Bloomberg Commodities News

UPDATE 1-Joy Global Q2 profit falls on interest expense, charges

(Reuters) - The company earned $77.6 million, or 70 cents a share,
compared with $82.9 million, or 66 cents a share, a year ago.
Analysts on average were expecting 72 cents a share before
exceptional items, according to Reuters Estimates.




Net sales rose 12 percent to $629.2 million. Analysts were
expecting $657.0 million on average.


Read more at Reuters.com Market News

Sweden's Vin & Sprit in China joint venture

(Reuters) - By Johannes Hellstrom



STOCKHOLM, May 30 - Absolut vodka maker Vin & Sprit has formed a joint venture with Chinese baijiu producer JianNanChun in a bid to tap into a $19 billion market for the domestic spirit, the Swedish firm announced on Wednesday.


Read more at Reuters.com Bonds News

Gold Fields says exploration executive resigns

(Reuters) - South African gold miner Gold Fields Ltd on Wednesday said its executive Vice President and head of exploration, Craig Nelsen, had resigned from the group.

Gold Fields -- the world's fourth biggest gold producer -- said Nelsen would be leaving to establish a new business venture, of which he would be CEO.


Read more at Reuters Africa

Crude Oil Rises on Speculation Gasoline Supply Gain Won't Cap Fuel Prices

(Bloomberg) -- Crude oil rose in New York amid
speculation that an expected increase in gasoline stockpiles
won't be large enough to reduce a supply deficit.

Gasoline stockpiles gained 1.5 million barrels in the week
ended May 25, according to the median of responses by 15 analysts
before an Energy Department report tomorrow. Supplies in the week
ended May 18 were 7 percent lower than the five-year average for
the period, the department said last week.


Read more at Bloomberg Commodities News

Housing Slump, Migrant Crackdown Reduce Dollar Flows to Mexico, Hurt Peso

(Bloomberg) -- Ernesto Perez, a 27-year-old Mexican
immigrant, says construction work in New York has become so
scarce he's stopped sending money back to his parents in the
southwestern state of Guerrero.

``If I don't find work soon, we're moving back home,''
Perez said last week as he walked away from the corner in
Queens, New York, where he and dozens of Hispanic workers hope
to get chosen for construction jobs. On this day, Perez gave up
after a six-hour wait.


Read more at Bloomberg Exclusive News

Chart Industries sets secondary offering of 12.6 mln shares

(Reuters) - The company will not receive any proceeds from the sale of
shares by the selling stockholders and, if the over-allotment
option is exercised, will use the proceeds for general
corporate purposes, including debt reduction.





Read more at Reuters.com Bonds News

Fitch cuts IBM's credit rating on stock buybacks

(Reuters) - Fitch lowered IBM's "AA-minus" issuer default and senior
unsecured debt ratings one notch to "A-plus," the fifth highest
rating.




The downgrades "reflect IBM's shift in financial policies
to a more aggressive long-term capital structure with a higher
degree of core financial leverage," Fitch said in a release.


Read more at Reuters.com Bonds News

China's CSI 300 Drops After Transaction Tax Tripled: World's Biggest Mover

(Bloomberg) -- China's stocks tumbled the most in
three months after the government tripled the tax on securities
transactions to cool a rally that's drawing more than 300,000 new
investors a day.

The CSI 300 Index dropped 281.83, or 6.8 percent, to close
at 3886.46 in Shanghai, the biggest fluctuation among markets
included in global benchmarks. The value of local stocks has more
than doubled this year to $2.47 trillion and brokerage accounts
topped 100 million for the first time this week.


Read more at Bloomberg Stocks News

NiSource, Solarfun, Wireless Facilities, Equity One: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 10:10 a.m. New York time.

Acco Brands Corp. (ABD US) rose $1.47, or 6.1 percent, to
$25.58 and traded as high as $25.90. The maker of office products
such as staplers and paper shredders said Breeden Capital
Management LLC increased its stake to 9.7 percent from less than
1 percent.


Read more at Bloomberg Stocks News

US stock indexes rise on tech M&A, but China and oil drag

(Reuters) - U.S. stocks ended higher on Tuesday, helped by a wave of takeover news involving tech companies such as Avaya Inc., but China's move to cool off its skyrocketing stock market limited Wall Street's broader advance and raised concern about a global equity sell-off.

A slide in shares of energy companies, including Exxon Mobil Corp., weighed on the Dow Jones industrial average and the S&P 500 in light post-holiday trading as U.S. oil prices dropped about $2 a barrel.


Read more at Reuters Africa

S.Africa government bonds, rand weaken on inflation leap

(Reuters) - South African government bonds weakened on Wednesday after official figures showed inflation soaring to a near four-year record of 6.3 percent year-on-year in April, hardening the case for higher interest rates.

The rand currency tracked bonds lower, extending its session losses against the dollar to touch 6-week lows against the dollar.


Read more at Reuters Africa

Investec Agrees to Buy U.K.'s Subprime Bank Kensington for $560 Million

(Bloomberg) -- Investec, a South African private and
investment bank with units in the U.K. and Australia, agreed to buy
Kensington Group Plc for 283 million pounds ($560 million) to
expand its mortgage-backed securities business in Britain.

The offer values each Kensington share at 519.5 pence, a
premium of 6 percent over the London-based bank's closing stock
price yesterday, Johannesburg-based Investec said. Investec offered
0.7 new shares for each Kensington share and a special dividend
from Kensington of 26 pence, based on the value of Investec's
closing stock price of 705 pence yesterday.


Read more at Bloomberg Emerging Markets News

Polo Ralph Lauren posts higher quarterly profit

(Reuters) - Analysts, on average, were expecting the New York-based company to earn 62 cents per share, according to Reuters Estimates.




Net quarterly revenue rose 6 percent, to $1.03 billion, in line with Reuters Estimates, driven by a 10 percent increase in European sales and U.S. sales of children's wear, menswear and Lauren clothing.


Read more at Reuters.com Market News

Brazilian Real, Mexican, Chilean Peso: Latin American Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American currencies today.
Exchange rates are from the previous session.

Argentine peso: Construction activity rose 2.3 percent in
April from a year earlier, the National Statistics Institute
reported yesterday.


Read more at Bloomberg Currencies News

CORRECTED - UPDATE 1-Alitalia shares fall after TPG withdraws bid

(Reuters) - A consortium led by U.S. private equity company Texas
Pacific Group said late on Tuesday it was withdrawing from
bidding for Alitalia.




The pullout leaves Italian airline Air One and Russian flag
carrier Aeroflot vying for Alitalia. Both bids are supported by
Italian banks -- Aeroflot's by UniCredit, and Air One's by
Intesa Sanpaolo.


Read more at Reuters.com Mergers News

Uranium Demand Will Double by 2030, World Nuclear Association Forecasts

(Bloomberg) -- Uranium demand will more than double
by 2030, with use of the nuclear fuel spreading to Malaysia,
Indonesia and Vietnam, said a group representing companies
including BHP Billiton Plc, Cameco Corp. and Duke Energy Corp.

Demand will climb to 160,000 metric tons by 2030, from
65,000 tons this year, Steve Kidd, director of strategy and
research of the World Nuclear Association, said at a Mining
Journal uranium conference in London today.


Read more at Bloomberg Commodities News

Altadis, Portugal Telecom, C&W: European Credit-Default Swap Market Movers

(Bloomberg) -- The risk of owning European corporate
bonds rose today, according to traders in the credit-default
swaps market.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index rose 4,500 euros
to 194,500 euros, according to JPMorgan Chase & Co.


Read more at Bloomberg Bonds News

UPDATE 2-Moody's reviews China, HK for possible upgrade

(Reuters) - HONG KONG, May 30 - Moody's Investors Service
placed China's A2 rating on review for a possible upgrade on
Wednesday, praising its strong external payments position,
continued success in reform and favourable fiscal trends.




The ratings agency said it was also reviewing for a
possible upgrade China's A2 country ceilings for foreign and
local currency bank deposits, as well as its A2 foreign and
local currency bond ceilings, and its ratings for Hong Kong and
Macau.


Read more at Reuters.com Economic News

ICE in pact with Chicago options exchange: report

(Reuters) - CBOT has been battling with the CBOE over exercise rights that date back to the creation of the options exchange by CBOT in 1973. The rights allow CBOT full members to trade options at the neighboring CBOE without having to buy a membership.




CBOE has requested that these rights be terminated if CBOT is taken over. CBOT has vowed to protect the rights.


Read more at Reuters.com Business News

Companies look outside developing countries - World Bank

(Reuters) - Companies from developing countries are raising vast sums of capital on global markets on an unprecedented scale, which has also increased their exposure to interest rate and currency risks, the World Bank said on Tuesday.

With growth in developing countries like China and India outpacing that of wealthy nations, the new phenomenon of corporate globalization is likely to intensify in the next few years, the bank's annual Global Development Finance report said.


Read more at Reuters Africa

JBS of Brazil Agrees to Buy Swift for $1.4 Billion, People Familiar Say

(Bloomberg) -- JBS SA, Latin America's biggest meat
producer, agreed to buy Swift & Co., the third-largest U.S. beef
and pork producer, for $1.4 billion, people familiar with the
matter said.

JBS, the Sao Paulo-based owner of Brazil's Friboi meat
brand, will acquire all of Swift's assets in the U.S. and
Australia, the people said. The transaction may be announced
today, they said.


Read more at Bloomberg Bonds News

Consumers in U.S. Gained Confidence in May on Jobs, Stocks, Survey Shows

(Bloomberg) -- Consumer confidence in the U.S. rose
in May from its lowest level in eight months, as wage and stock
market gains put Americans in a mood to spend, economists said
before a report due today.

The New York-based Conference Board's index of consumer
confidence rose to 105 this month from 104 in April, according
to the median forecast in a Bloomberg survey of 62 economists.
The index averaged 105.9 last year.


Read more at Bloomberg Bonds News

Tax-Cut War Widens in U.K., France and Germany Try to Attract Investment

(Bloomberg) -- A tax-cut war is spreading across
Europe as leaders of the continent's biggest economies give up
criticizing smaller neighbors for slashing business rates and
decide to join them instead.

The move toward lower levies on corporate profits in Spain,
Germany, France and the U.K. is aimed at wooing companies and
reinforcing the strongest economic expansion in six years. It
comes after Ireland and new European Union members from eastern
Europe succeeded in attracting investment, and irking their
larger rivals, with tax rates of less than 20 percent -- among
the world's lowest.


Read more at Bloomberg Bonds News

Alcatel-Lucent, EADS, Faurecia, Ingenico, Total: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange. Symbols are in
parentheses after company names and prices are from the last
close.

The CAC 40 Index rose 13.98, or 0.2 percent, to 6071.47.
The SBF 120 Index also increased 0.2 percent. Trading was
lighter than usual as the U.S. market was closed for a holiday.
Half of the 18 western European markets were also closed.


Read more at Bloomberg Stocks News

Indonesia's Rupiah Declines on Speculation Central Bank Will Slow Gains

(Bloomberg) -- The Indonesian rupiah fell against
the dollar on speculation authorities aren't keen to see the
currency strengthen further.

The rupiah has declined from a three-year high of 8,640 set
on May 23 following comments by officials suggesting they
preferred the currency at a weaker level. Indonesia is ``happy''
with the rupiah at about 9,000 to the dollar, Vice President
Jusuf Kalla said at a conference in Tokyo last week.


Read more at Bloomberg Currencies News

South Korea's Poongsan to Expand Output as Demand for Metal Products Grows

(Bloomberg) -- Poongsan Corp., Asia's biggest maker
of copper and copper alloy products, plans to boost output as
demand for raw materials soars in industries ranging from cars to
semiconductors. The company's shares rose to a record.

Poongsan plans to raise annual capacity for metal sheets and
strips at its Onsan mill in South Korea by 33 percent to 200,000
metric tons by the end of 2009, Chang Bong Hun, Poongsan's
planning and management division director, said in an interview
yesterday. The unit in Thailand will expand capacity by 67
percent to 25,000 tons by mid-2008, he added.


Read more at Bloomberg Emerging Markets News

Treasuries Fall Before Report That Will Show Consumer Sentiment Rebounded

(Bloomberg) -- Treasuries declined, pushing yields on
benchmark 10-year notes to the highest since January, before a
report today that will probably show confidence among U.S.
consumers rebounded this month.

Ten-year yields have risen almost half a percentage point in
the past four weeks on expectations signs of economic growth will
limit the scope for a cut in interest rates by the Federal
Reserve this year.


Read more at Bloomberg Bonds News

Tax-Cut War Erupts as U.K., France, Germany Slash Rates to Lure Investment

(Bloomberg) -- A tax-cut war is spreading across
Europe as leaders of the continent's biggest economies give up
criticizing smaller neighbors for slashing business rates and
decide to join them instead.

The move toward lower levies on corporate profits in Spain,
Germany, France and the U.K. is aimed at wooing companies and
reinforcing the strongest economic expansion in six years. It
comes after Ireland and new European Union members from eastern
Europe succeeded in attracting investment, and irking their
larger rivals, with tax rates of less than 20 percent -- among
the world's lowest.


Read more at Bloomberg Exclusive News

Colorado, Utah Rival OPEC Reserves, Lure Shell, Chevron, Exxon With Sale

(Bloomberg) -- Colorado and Utah have as much oil as
Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya,
Angola, Algeria, Indonesia, Qatar and the United Arab Emirates
combined.

That's not science fiction. Trapped in limestone up to 200
feet (61 meters) thick in the two Rocky Mountain states is
enough so-called shale oil to rival OPEC and supply the U.S. for
a century.


Read more at Bloomberg Energy News

Japan's Stocks Slip on Concern Minister's Suicide Weakens Abe's Government

(Bloomberg) -- Japanese stocks slipped after the
suicide of Agriculture Minister Toshikatsu Matsuoka prompted
concern Prime Minister Shinzo Abe's popularity will be
undermined, reducing his chances of winning key parliamentary
elections this summer and making it harder to pass legislation.

Mitsubishi UFJ Financial Group Inc. and Toyota Motor Corp.
led declines by the nation's largest companies.


Read more at Bloomberg Stocks News

Yen Strengthens After Japanese Jobless Rate, Household Spending Reports

(Bloomberg) -- The yen rose for a second day against
the dollar after government reports showed Japan's jobless rate
unexpectedly fell to a nine-year low and households increased
spending for a fourth month in April.

Signs of a strengthening economy may fuel bets the Bank of
Japan will raise the lowest interest rates in the industrialized
world, increasing the appeal of yen-denominated assets. The yen
has fallen against 15 of the 16 most-active currencies in the
past year, as the BOJ signaled it may keep its benchmark rate at
0.5 percent in coming months.


Read more at Bloomberg Currencies News

Japan Stocks May Drop Should Household Spending, Job Data Miss Forecasts

(Bloomberg) -- Japanese stocks may slip should
measures of household spending and employment miss forecasts.
Domestic demand-related shares including Seven & I Holdings Co.
may pace losses.

``Employment and consumer spending are not on a sustained
recovery track,'' said Yoshihisa Okamoto, who helps oversee $1.9
billion in assets at Fuji Investment Management Co. in Tokyo.
``That's making it hard to be a buyer of department store and
supermarket stocks.''


Read more at Bloomberg Stocks News

Japanese Yen, Thai Baht, Korean Won, Indian Rupee :Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Peru's Stocks Fall Most in Week, Led by Cerro Verde: World's Biggest Mover

(Bloomberg) -- Peru's main stock index fell for the
fourth time in five days as investors bet shares were expensive
relative to earnings after a rally earlier this year.

The Lima General Index declined 502.56, or 2.4 percent, to
20,745.75 at 2:44 p.m. New York time, led by miner Sociedad
Minera Cerro Verde SA. It was the index's steepest fall since May
16 and the biggest move among markets included in global
benchmarks.


Read more at Bloomberg Stocks News

Brazil's Lula defends Senate chief on graft charge

(Reuters) - Senate president Renan Calheiros is accused of receiving
payments from a lobbyist in exchange for favoring a
construction firm. Calheiros, a close ally of Lula, denied the
accusations made by a leading news magazine on Friday but he
was to address the Senate floor later on Monday.




It is the latest in a string of corruption scandals that
have marked Lula's presidency, now in its second term.


Read more at Reuters.com Bonds News

Nordic Indexes Climb, Paced by Swedish Match; OMX Reaches Six-Year High

(Bloomberg) -- Nordic stocks gained, led by Swedish
Match AB, the world's second-largest maker of smokeless tobacco
products. Norsk Hydro ASA climbed on speculation the world's
fourth-biggest aluminum producer may bid for Alcan Inc.

OMX AB jumped to a six-year high after the Sunday Times
reported the Nordic region's largest stock exchange operator may
receive a counterbid from Dubai.


Read more at Bloomberg Stocks News

Obasanjo ally buys second Nigerian oil refinery

(Reuters) - Nigerian tycoon Aliko Dangote has acquired a controlling stake in Nigeria's third-largest oil refinery for an undisclosed sum, consolidating his grip on the OPEC member nation's refining industry.

It is the second major refinery purchase in 11 days by Dangote, who is a major financier of the ruling party and ally of outgoing President Olusegun Obasanjo, after he bought the largest refinery in Port Harcourt on May 17.


Read more at Reuters Africa

Norsk Hydro planning bid for Alcan: report

(Reuters) - "There are advantages," one banker close to Alcan told the
paper. "Obviously there are synergies there and there are
certain similarities in terms of potential desires by
governments. It has interesting potential."




Norsk is 43 percent owned by the Norwegian government.


Read more at Reuters.com Mergers News

Oil falls $1 after Nigeria oil strike ends

(Reuters) - London Brent crude fell $1.05 to $69.64 a barrel by 1200 GMT. U.S. crude fell 69 cents to $64.51 a barrel, after surging more than $1.00 on Friday. The market was thin due to holidays in both the UK and the United States.




Nigerian Union leaders said on Saturday workers at the national oil company had suspended the two-day strike after the government agreed to a pay rise and other benefits, although oil traders remained anxious over exports.


Read more at Reuters.com Business News

Vietnam's Government Bonds Gain on Speculation Banks Have Cash to Invest

(Bloomberg) -- Vietnam's bonds gained on speculation
the country's banks have surplus cash to invest in fixed-income
securities.

The yield on the benchmark five-year note fell 1.6 basis
points to 7.14 percent, according to prices by seven banks set
once a day and compiled by Bloomberg. A basis point is 0.01
percentage point. The government today sold 700 billion dong
($44 million) of bonds maturing on May 30, 2012, at a yield of
7.05 percent.


Read more at Bloomberg Bonds News

Wolfowitz says "overheated" row forced him to quit

(Reuters) - The former head of the World Bank Paul Wolfowitz, who resigned in a row about his companion's promotion, said on Monday he had been forced to quit because emotions at the organisation had become "overheated".

In a BBC interview, Wolfowitz defended his record as the bank's president, saying he was proud of what he had achieved during his two years in the job.


Read more at Reuters Africa

India, Pakistan Near Accord on Gas Price for `Peace Pipeline,' Iran Says

(Bloomberg) -- Pakistan and India are close to an
agreement on the price of natural gas that will pass through a
proposed $7.4 billion pipeline linked with Iran, according to one
of the officials involved in the talks.

Hojatollah Ghanimifard, Iran's negotiator, said he hoped
``all problems would be settled'' by June 30, the latest deadline
set by Iran to finalize the contract, Shana, the press agency for
Iran's oil ministry, said in a statement late yesterday.


Read more at Bloomberg Emerging Markets News

European shares edge up in holiday-hit trade

(Reuters) - European shares ticked higher in early trade on Monday, taking their cue from a strong close in U.S. markets and a rise in Asian stocks, but activity will be thin as many major European markets are closed for public holidays.

France Telecom added 0.6 percent after the country's leading telecoms operator kicked off a formal review of bids for part or all of its Orange unit in the Netherlands.


Read more at Reuters Africa

Rand steady, eyes upcoming data

(Reuters) - South Africa's rand steadied against the dollar on Monday and traders expected a dull session due to holidays in Britain and the United States, but said a slew of data from Tuesday will guide the currency.

The rand was trading at 7.080 to the dollar at 0630 GMT, not far off its New York close of 7.0840 on Friday.


Read more at Reuters Africa

Japan Q1 output gap +0.7 pct--govt report

(Reuters) - The report, written by a Cabinet Office official, said the
output gap turned positive for the second straight quarter and
widened from plus 0.5 percent in October-December 2006.




It is the first time since October-December 1996/
January-March 1997 that the output gap has shown a positive
reading for two quarters in a row.


Read more at Reuters.com Economic News

South Korea's Kospi Rises to Record High; Kookmin Bank, Shinhan Lead Gains

(Bloomberg) -- South Korean stocks advanced, pushing
the Kospi index to a record. Kookmin Bank and Shinhan Financial
Group Ltd. rose after Deutsche Bank AG said they were ``regaining
loan growth momentum.''

``Banks are catching up after missing out on the market's
recent gains,'' said Choi Chang Hoon, who manages about $800
million at Woori Credit Suisse Asset Management Co. in Seoul.
``The feeling is spreading that banks' earnings will be more
stable than previously expected.''


Read more at Bloomberg Stocks News

Gold Prices Trade Near Two-Month Low Amid Speculation Dollar to Strengthen

(Bloomberg) -- Gold prices in Asia were little
changed near a two-month low amid speculation the dollar will
strengthen further against the euro, reducing the appeal of the
precious metal as an alternative investment. Silver fell.

Gold generally moves in the opposite direction to the
dollar which last week gained to a six-week high against the
euro. Gold, which traded at a two-month low of $652.01 on May 24,
has risen 3 percent so far this year as the dollar dropped 1.9
percent against the euro.


Read more at Bloomberg Commodities News

Japanese 10-Year Bond Yield at Highest Since February as Stocks Rebound

(Bloomberg) -- Japan's 10-year bond yields held near
the highest since February after the Nikkei 225 Stock Average
rebounded from the biggest decline in a month.

Two-year yields were at the highest since 1997 before reports
this week that are forecast to show Japanese industrial production
rose and U.S. hiring increased. Signs of faster growth in the
world's two biggest economies may encourage the Bank of Japan to
raise interest rates again this year.


Read more at Bloomberg Bonds News

Copper Prices Rise by Maximum in Shanghai on Declining Global Stockpiles

(Bloomberg) -- Shanghai copper prices rose by the
daily limit following a drop in stockpiles and signs of continued
demand from China, the world's biggest user of the metal.

Global inventories of copper in warehouses monitored by the
London Metal Exchange fell for the sixth day, by 1.5 percent to
134,125 metric tons, the lowest since Oct. 31, the exchange said
on May 25. Shanghai exchange stockpiles fell 0.5 percent from a
three-year high in the past week, easing concern that China may
be oversupplied with the metal, used in wires and pipes.


Read more at Bloomberg Commodities News

Australian Mining Stocks Rise, Led by BHP Billiton; James Hardie Declines

(Bloomberg) -- Australian mining stocks rose, led by
BHP Billiton Ltd. and Rio Tinto Group after prices of metals
including copper and zinc gained, and amid speculation of mergers
and acquisitions in the mining industry.

James Hardie Industries NV declined after fourth-quarter
earnings fell as rising costs crimped profit margins in its home
market of Australia.


Read more at Bloomberg Stocks News

Crude Oil Drops on Speculation Rising U.S. Gasoline Output Will Cut Prices

(Bloomberg) -- Crude oil fell in New York on
speculation U.S. fuel prices may ease as refiners increase
output to meet summer demand.

U.S. gasoline production in the week ended May 18 rose to
the highest since December, increasing inventories for a third
week. Stockpiles that week were 7 percent below the five-year
average, according to Energy Department data.


Read more at Bloomberg Commodities News

EnTie Commercial, Hon Hai Precision and Tecom: Taiwan's Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Taiwan trading. Stock symbols are in brackets after the
company names. The preview includes news that broke after
markets shut. Prices are from the May 25 close unless otherwise
stated.

The Taiex index dropped 0.7 percent, to 8159.97 in Taipei.
The measure rose 1.6 percent last week, the largest weekly gain
in two months.


Read more at Bloomberg Stocks News

Australian Dollar May Advance After Failing to Drop Below Key Chart Level

(Bloomberg) -- The Australian dollar may snap two
days of losses on speculation it will resume this year's
appreciation after it failed to drop below a level on technical
charts traders watch to predict price movements.

The currency was at 81.85 U.S. cents at 9:13 a.m. in Sydney
compared with 81.80 cents late in New York May 25. It held above
a May 4 low of 81.71, the weakest since April 10, as it declined
0.6 percent last week. It's risen 3.8 percent this year.


Read more at Bloomberg Currencies News

Japanese Stocks May Advance on Higher Metals, Crude Oil Prices, Weaker Yen

(Bloomberg) -- Japanese stocks may climb, led by
trading companies, after commodities prices rose at the end of
last week. Exporters could advance after the yen weakened against
the dollar and euro, boosting the value of their overseas sales.

Mitsubishi Corp., Japan's largest trading company, and Honda
Motor Co., the most dependent of Japan's big three automakers on
overseas sales, may rise.


Read more at Bloomberg Stocks News

Gold May Fall for Fourth Week as Dollar Gains Erode Demand for the Metal

(Bloomberg) -- Gold may fall for a fourth-straight
week on speculation the euro will weaken further against the
dollar, reducing the appeal of the precious metal as an
alternative investment.

Fifteen of the 28 traders, investors and analysts surveyed
by Bloomberg from Sydney to Chicago on May 24 and May 25 advised
selling gold, which fell 1 percent to $655.30 an ounce last week
on the Comex division of the New York Mercantile Exchange. It
was the most bearish response to the weekly survey since October
2005. Nine said to buy and four were neutral.


Read more at Bloomberg Commodities News

RPT-Wall St Week Ahead: May jobs data to test stocks' rally

(Reuters) - NEW YORK, May 27 - Wall Street's merger-fueled
rally may continue this week, so long as Friday's payrolls
report and other economic news don't spoil the party.




For a holiday-shortened four-day work week, the calendar is
crowded with reports on consumer confidence and the overall
pace of economic growth, among others.


Read more at Reuters.com Economic News

Dubai looking to crash Nasdaq's OMX deal - paper

(Reuters) - DIFC Governor Omar bin Suleiman told Reuters on Thursday it
was not considering making a bid for OMX. DIFC could not be
reached for comment on Sunday.





Read more at Reuters.com Mergers News

Syrians vote, Assad runs uncontested for new term

(Reuters) - Only a political miracle could stop Assad, the only candidate allowed to run, from cruising to victory.




With Iraq plunging into sectarian strife and instability in Lebanon, state media and the Baath party have emphasized Basher's command of a strong state, economic reform and his vision of upholding Arab rights in the struggle with Israel.


Read more at Reuters.com Bonds News

S.Africa calls for open World Bank appointment

(Reuters) - South Africa urged the United States on Saturday to abide by an agreement of the Group of 20 economic powers for an open and transparent appointment of the new head of the World Bank.

The G20, in the final communique of its 2006 annual meeting, called for the managing director of the International Monetary Fund and president of the World Bank to be selected in a transparent and consultative process, and not restricted to nationality.


Read more at Reuters Africa

Continental bid for Siemens VDO not enough

(Reuters) - Continental AG's indicative bid for Siemens' automotive electronics unit, Siemens VDO, is not high enough, Siemens supervisory board chairman Gerhard Cromme said on Friday.

"Continental will have to markedly improve (it's bid)," Cromme said in an interview in the Frankfurter Allgemeine Sonntagszeitung newspaper, released in advance of publication on Sunday.


Read more at Reuters Africa

Rand Posts Its Biggest Weekly Decline in Two Months on Commodity Prices

(Bloomberg) -- The South African rand had its biggest
weekly decline in more than two months as gold and platinum prices
fell, dimming demand for the currency.

The currency of Africa's largest economy is set for a third
consecutive week of declines amid speculation falling commodity
prices may make it harder for the country to fund its current
account deficit and undermine the currency. Gold and platinum make
up almost a fifth of exports.


Read more at Bloomberg Currencies News

CMS utility agrees to buy Michigan gas-fired plant

(Reuters) - Consumers announced this month a 20-year plan to invest in
additional generation -- including building a new coal-fired
plant -- along with renewable power and programs to lower power
consumption through increased energy efficiency.




Jackson, Michigan-based Consumers said its plan would
require repeal of the state's electric choice law which could
hamper its ability to build and finance new power plants.


Read more at Reuters.com Mergers News

Tribune cancels plan to sell papers to Gannett

(Reuters) - An arbitrator ruled last month that Tribune could not sell The Advocate unless Gannett assumed an existing contract as a condition of the sale. Gannett declined to do this, Tribune said, which prompted the company to cancel the sale.




Tribune will seek other offers for the papers.


Read more at Reuters.com Business News

Coast Financial fires chief executive; names acting CEO

(Reuters) - The company named board member and Chief Operating Officer
Anne Lee as acting CEO and president of Coast Financial and its
unit, it said in a statement.





Read more at Reuters.com Government Filings News

Bovespa Rebounds After Brazil Selloff, Led by Vale: World's Biggest Mover

(Bloomberg) -- Brazil's main stock index rose for the
first time in four days, led by mining company Cia. Vale do Rio
Doce, after share price declines earlier in the week alleviated
concern that stocks had become too expensive.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange climbed 908.30, or 1.8 percent, to 51,438.95 at 3:18 p.m.
New York time, the biggest move among markets include in global
benchmarks. The index fell 3.6 percent the previous three days,
heading for its first weekly decline in a month.


Read more at Bloomberg Stocks News

Former Wal-Mart exec accuses CEO of ethics breach

(Reuters) - Roehm sued for breach of contract. In a March countersuit,
Wal-Mart accused her of accepting gifts from an advertising
agency that was later chosen to handle the retailer's ad
account.




In papers filed on Thursday in Detroit federal court, Roehm
said it was Wal-Mart's top brass who violated the company's
strict ethics policies.


Read more at Reuters.com Business News

Abraxas forms master limited partnership; shares jump

(Reuters) - MLPs don't have to pay corporate taxes as most of their profits are paid out to unitholders.




The company said assets contributed to the partnership had estimated proved reserves of about 65 billion cubic feet equivalent and currently account for about 85 percent of Abraxas' daily production.


Read more at Reuters.com Hot Stocks News

Adams, Bioenvision, IDM, Mentor Graphics, Patterson: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 1:10 p.m. New York time.

Adams Respiratory Therapeutics Inc. (ARXT US) rose $3.88, or
9.7 percent, to $43.93 and traded as high as $44.39. U.S.
regulators moved to force illegal competitors to the company's
Mucinex off the market. Hundreds of time-release drugs containing
the chemical guaifenesin are sold to ease cold and cough
symptoms, although Adams alone has approval to sell such
products, the Food and Drug Administration said in a notice on
its Web site.


Read more at Bloomberg Stocks News

Citadel to make special cash distribution of $2.46 a share

(Reuters) - The record date is expected to be June 8 and the merger is
expected to close on June 12, it added.





Read more at Reuters.com Mergers News

RBS consortium set for ABN update on Tuesday

(Reuters) - Several analysts said they expected the consortium to make a formal offer on Tuesday. Although the consortium may prefer to get more details on legal issues, stock market authorities are likely to apply pressure for more clarity, one said.




ABN in April agreed an all-share takeover by Barclays .


Read more at Reuters.com Business News

Swiss Franc Records Weekly Gain as SNB Signals Increase in Interest Rates

(Bloomberg) -- The Swiss franc posted a weekly gain
against the euro and the dollar, snapping a four-week losing run,
as central bank policy makers indicated they may raise interest
rates to curb inflation.

The franc held near a two-week high versus the euro after
Swiss National Bank President Jean-Pierre Roth and policy maker
Thomas Jordan said they're watching the impact of the franc's
weakness on inflation. The currency stayed higher on the week
after a report showed the country's leading economic indicators
rose for a fourth straight month in May.


Read more at Bloomberg Currencies News

Fed to study mortgage lending rules

(Reuters) - Dodd's office released the letter.




Read more at Reuters.com Bonds News

Platinum Falls, Heading for Biggest Weekly Drop in 2007; Platinum Declines

(Bloomberg) -- Platinum fell in New York, heading for
the biggest weekly decline this year, after yesterday's drop in
U.S. stocks. Palladium also declined.

The Dow Jones Industrial Average fell yesterday for a fourth
day, its longest losing streak since Feb. 27. Platinum has
slumped 5.5 percent from a record $1,353.80 an ounce on May 7.


Read more at Bloomberg Commodities News

Google's Storage of Personal Data May Break EU Law, Privacy Watchdog Says

(Bloomberg) -- Google Inc., owner of the world's most
popular search engine, may be violating the European Union's
privacy laws by storing information on customer queries for as
long as two years, advisers to EU regulators told the company.

Google's privacy counsel in Paris, Peter Fleischer, said the
company received a letter this month from the EU's data-protection
advisory agency asking it to explain why records of user searches
are retained.


Read more at Bloomberg Exclusive News

New York Natural Gas Is Little Changed as Mild Weather Diminishes Demand

(Bloomberg) -- Natural gas in New York was little
changed on rising stocks of the power-plant fuel and slack demand
because of mild weather.

Gas for June delivery rose 0.3 cents to $7.684 per million
British thermal units at 9:12 a.m. in trading on the New York
Mercantile Exchange. It had fallen in the previous five trading
sessions, dropping 4.9 percent since May 17.


Read more at Bloomberg Energy News

Brazilian Real Gains on Outlook for Moody's Ratings Upgrades, Cash Inflows

(Bloomberg) -- Brazil's real gained after Moody's
Investors Service put the country's ratings on review for
possible improvement, following increases by Standard & Poor's
and Fitch this month.

The agencies' moves is boosting interest in local assets,
already buoyed by growing dollar flows from exports and foreign
investments, said Nuno Almeida, chief economist at the Brazilian
unit of Standard Bank Group.


Read more at Bloomberg Currencies News

Chavez Plan to Withdraw From IMF May Give Pimco, MFS $404 Million Windfall

(Bloomberg) -- Venezuelan President Hugo Chavez's
pledge to withdraw from the International Monetary Fund may
violate terms of the country's foreign bonds, allowing investors
to demand their money back.

Pacific Investment Management Co. and Alliance Capital
Management, the biggest holders of Venezuela's debt, are the
biggest among dozens of investors who would get a $404 million
windfall if the securities are redeemed because they own bonds
that trade below face value, according to data compiled by
Bloomberg. The country has $6.5 billion of notes that trade at a
discount among its $20 billion in foreign bonds.


Read more at Bloomberg Bonds News

CORRECTED - CORRECTED-GeoVera files for IPO of 5.9 mln shares at $16-$18 eac

(Reuters) - The Bermuda-based company said in an amended filing with
the U.S Securities and Exchange Commission that it plans to
sell 2.1 million shares and that a stockholder will sell the
remaining 3.8 million shares.




GeoVera, a provider of specialty residential property
insurance products, said it applied for a Nasdaq listing under
the symbol "GEOV."



Read more at Reuters.com Government Filings News

India's Tata Tea to get $1.2 bln for Glaceau stake

(Reuters) - Tata Tea had bought the 30 percent stake last year for $677
million. The stake was held by itself and holding company Tata
Sons.




Read more at Reuters.com Mergers News

Swiss Franc Set for Weekly Gain as SNB Signals Increase in Interest Rates

(Bloomberg) -- The Swiss franc headed for a weekly
gain against the euro, snapping a four-week losing run, as central
bank policy makers indicated they may raise interest rates to curb
inflation.

The franc held near a two-week high versus the euro after
Swiss National Bank President Jean-Pierre Roth and policy maker
Thomas Jordan said they're watching the impact of the franc's
weakness on inflation. The currency stayed higher on the week
after a report showed the country's leading economic indicators
rose for a fourth straight month in May.


Read more at Bloomberg Currencies News

S.Africa's Eskom utility warns of more power cuts

(Reuters) - South Africa may suffer further power cuts in coming months due to rising demand during the peak winter season, utility Eskom said.

"Clearly the system demand is growing daily due to the cold weather, which puts tremendous pressure on the already tight electricity supply system," Eskom said.


Read more at Reuters Africa

Carbon Emission Permits Headed for Biggest Weekly Advance Since November

(Bloomberg) -- European Union carbon-dioxide permits
for 2008 rose to their highest in almost a year after analysts
forecast further gains. They are headed for their biggest weekly
gain since November.

Emissions permits for delivery in December 2008 gained as
much as 75 cents, or 3.2 percent, to 24 euros ($32) a metric ton
and traded at 23.95 euros at 11:43 a.m. in Amsterdam, according
to prices from the European Climate Exchange. Today's high was
the highest since May 26 last year.


Read more at Bloomberg Energy News

China Oil Imports From Sudan Rise Sixfold Amid Increased Darfur Pressure

(Bloomberg) -- China's oil imports from Sudan jumped
more than sixfold in April amid increased international pressure
to cut economic support for the African nation, accused by the
U.S. of supporting genocide.

China purchased 222,000 barrels a day of Sudanese oil last
month, an increase of 539 percent from a year earlier, customs
figures released in Beijing today show. Sudan is China's sixth-
largest supplier of oil this year, shipments rising more than
fivefold to 25.8 million barrels.


Read more at Bloomberg Energy News

U.S. Stock-Index Futures Rise; Wal-Mart, General Motors, Boeing Advance

(Bloomberg) -- U.S. stock-index futures gained on
takeovers after Nasdaq Stock Market Inc. agreed to buy Sweden's
OMX AB, and on increasing signs that the world's largest economy
is recovering.

Nasdaq Stock Market agreed to buy Sweden's OMX AB for 25.1
billion Swedish kronor ($3.7 billion). MGM Mirage hired UBS AG to
advise on a possible breakup of the world's second-largest casino
company being considered by billionaire investor Kirk Kerkorian.


Read more at Bloomberg Stocks News

Yen falls after N. Korea missiles report

(Reuters) - "This news is bound to make people a little bit nervous, but the yen was declining anyway and it suits the prevailing trend," said Lee Ferridge, senior prop trader at Rabobank.




Read more at Reuters.com Hot Stocks News

Achievo says plans Nasdaq listing within months

(Reuters) - He also said Achievo expected organic growth in revenue this
year of 40 percent.




Read more at Reuters.com Mergers News

S.Africa union wants 20 pct wage hike in gold sector

(Reuters) - South Africa's small Solidarity mining union has demanded a 20-percent wage hike from the country's three major gold producers, it said on Friday.

"The demand is a 20 percent increase," spokesman Reint Dykema said.


Read more at Reuters Africa

Australia, New Zealand Dollars Drop as Appetite Weakens for Higher Yields

(Bloomberg) -- The Australian and New Zealand
dollars headed for weekly losses against the yen as a slump in
global stocks prompted investors to reduce bets on higher-
yielding assets.

The currencies fell to the weakest in two weeks versus the
yen as Asian equities followed U.S. shares lower. Traders cut
so-called carry trades, where they borrow in countries with
lower interest rates to fund higher-yielding investments.
Australia's interest rate of 6.25 percent and New Zealand's 7.75
percent compare with Japan's 0.5 percent.


Read more at Bloomberg Currencies News

UPDATE 1-EU watchdog clears Roche's anaemia drug Mircera

(Reuters) - Roche said in a statement on Friday that it had received a positive opinion for Mircera from the European Committee for Medicinal Products for Human Use -- whose recommendations are normally formally endorsed by European regulators within a couple of months.



The recommendation is good news for Roche after Mircera suffered a delay in the U.S. approval process.


Read more at Reuters.com Government Filings News

UPDATE 1-Nasdaq to buy Nordic bourse group OMX for $3.7 bln

(Reuters) - Nasdaq has been under pressure to get a deal done after the
London Stock Exchange's in cash for each OMX share.


Read more at Reuters.com Mergers News

Japanese Stocks Drop, Led by Exporters on Concern U.S. Rates Won't Be Cut

(Bloomberg) -- Japanese shares declined by the most
in a month. Exporters paced losses on concern the U.S. Federal
Reserve will lift borrowing costs in Japan's largest overseas
market after a report showed home sales unexpectedly climbed.

Canon Inc., the world's largest digital camera maker,
dropped 2 percent and Toyota Motor Corp., the world's No.1
automaker by market value, fell 1.5 percent.


Read more at Bloomberg Stocks News

Aruba, Frontier, Hibbett Sports, Verigy and Ditect: U.S. Equity Preview

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

Aruba Networks Inc. (ARUN US) increased 87 cents, or 5.7
percent, to $16.03 in trading yesterday after the official close
of U.S. exchanges. The maker of wireless networking equipment
said third-quarter sales were $34.7 million, up 65 percent from
a year earlier. That exceeded the $30.5 million estimate of
three analysts surveyed by Bloomberg.


Read more at Bloomberg Stocks News

Pound Headed for Weekly Gain, Ending Four-Week Losing Run, on Rate Outlook

(Bloomberg) -- The pound headed for a weekly gain
versus the dollar, snapping a four-week losing run, on views the
Bank of England will keep raising interest rates.

The U.K. currency traded near a two-week high against the
dollar yesterday as a manufacturing survey underpinned
expectations the central bank will raise borrowing costs twice
more this year. The pound may extend gains before a government
report today that's expected to confirm the economy maintained
the pace of its growth in the first quarter.


Read more at Bloomberg Currencies News

China's Wu Yi Opens Market at Own Pace, Handing Paulson Empty Concessions

(Bloomberg) -- China's agreement to further open its
financial industry to foreign firms should be seen as a logical
extension of the government's market reforms, and not as a
victory for the U.S., analysts and observers said.

Chinese negotiators led by Vice Premier Wu Yi agreed to
lift a moratorium on overseas firms buying into domestic
brokerages and triple the quota for stock purchases by foreign
institutional investors to $30 billion.


Read more at Bloomberg Emerging Markets News

Copper Prices in Shanghai Fall Most in Week as China Imports Slow in April

(Bloomberg) -- Shanghai copper prices fell the most
in a week as China's imports slowed last month from March's
record level, suggesting that the world's biggest consumer of the
metal has enough supply to meet demand.

Imports of refined copper and alloys in April fell 7.7
percent to 192,069 tons from 208,014 tons in March, according to
data issued today by the customs office. Shanghai copper prices
have fallen 14 percent this month on concern that China's rising
stockpiles of the metal, used in wires and pipes, signaled a glut.


Read more at Bloomberg Commodities News

European Government Notes Set for Third Weekly Drop Before Sentiment Index

(Bloomberg) -- European two-year government notes are
headed for a third weekly decline before a report that's expected
to show German consumer confidence rose in June.

Benchmark two-year yields held near the highest in five
years after a report yesterday showed business sentiment in
Europe's biggest economy stayed near a record in May. Futures
trading shows investors are raising bets the European Central
Bank raising rates at least twice more this year.


Read more at Bloomberg Bonds News

TREASURIES-Bond prices fall on data, stocks curb losses

(Reuters) - NEW YORK, May 24 - U.S. Treasury debt prices fell
on Thursday for the third straight day after reports of a surge
in new-home sales and signs of strength in business investment
reduced the chances of an interest rate cut by the Federal
Reserve in 2007.




Losses were limited by a drop in stocks as investors locked
in profits after a recent rally. The recent surge in the stock
market has drawn investors away from safe-haven Treasuries.


Read more at Reuters.com Bonds News

Boeing, Bon-Ton Stores, Komag, Patterson, Stein Mart: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 11:40 a.m. New York time.

Bausch & Lomb (BOL US) rose $3.20, or 4.8 percent, to
$69.65 and traded as high as $70.50. Advanced Medical Optics
Inc. (EYE US) said it will consider topping the $3.7 billion bid
from Warburg Pincus for Bausch & Lomb. Advanced Medical
mentioned no price, although CNBC reported the offer could
exceed $70 a share.


Read more at Bloomberg Stocks News