Benq, China Merchants Bank, City Telecom: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan, on May 21. This preview
includes news that broke after markets closed. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.

Chinese banks: China raised interest rates for a second time
this year to prevent a flood of cash from surging exports from
fueling a stock market bubble and excessive investment in
factories and real estate.


Read more at Bloomberg Stocks News

Basell-Lyondell deal seen as more likely now

(Reuters) - Last week, a unit of Access Industries, which owns Basell
and is run by billionaire Leonard Blavatnik, bought the right
to acquire a stake of more than 8 percent in Lyondell and said
in a regulatory filing that it might increase its holding from
there and possibly merge the company with Basell.




At the same time, Basell was one of several players looking
to buy GE Plastics, sources have said. GE put it up for sale
earlier this year and it was expected to sell for at least $10
billion.


Read more at Reuters.com Mergers News

UPDATE 1-LIN TV exploring sale of company, shares soar

(Reuters) - LIN TV, based in Providence, Rhode Island, said it had
retained JPMorgan Securities as an adviser but planned no
further comment unless the review resulted in a transaction.




LIN TV shares rose $2.25, or 13.5 percent, to $18.96 in
afternoon trading on the New York Stock Exchange. Earlier, the
stock reached $19.80, its highest level since October 2004.


Read more at Reuters.com Mergers News

Quant codes predict markets for Simons' Renaissance

(Reuters) - But those looking for hot stock tips from the 69-year-old
founder of the mega-hedge fund group Renaissance Technologies
Corp. at the International Association of Financial Engineers
meeting are likely to be disappointed.




The firm, which manages two main funds with combined assets
of $30 billion, trades thousands of stocks, bonds, derivatives,
currencies and other securities so rapidly that the picture
changes on a minute-by-minute basis. What's hot for the firm
one minute may not be five minutes later.


Read more at Reuters.com Bonds News

Nymex Natural Gas Declines as Ample Supplies Offset Warm Weather Concerns

(Bloomberg) -- Natural gas in New York fell, erasing
earlier gains, as ample supplies offset concerns over potential
supply disruptions and a forecast for hot summer weather

Inventory levels are sufficient to meet demand, which will
push prices lower, said David Pursell, research analyst with
Pickering Energy Partners Inc. in Houston.


Read more at Bloomberg Energy News

Oil slips after surge on gasoline anxiety

(Reuters) - China, the world's second biggest oil consumer, raised interest rates to cool its fast-growing economy. But analysts said it could take time to produce any noticeable impact on its oil demand.




London Brent crude slipped 66 cents to $69.61 a barrel by 1452 GMT, eroding some of the previous day's gains of more than $2 or 3.3 percent, the biggest one-day rise since a 5 percent surge in late January.


Read more at Reuters.com Hot Stocks News

AQuantive Options Trading Jumped Before Announcement of Sale to Microsoft

(Bloomberg) -- Trading in options to buy shares of
aQuantive Inc. rose yesterday before the online advertiser, long
the subject of takeover speculation, agreed to be acquired by
Microsoft Corp. for $6 billion.

An option to buy aQuantive shares for $35 by today's
expiration deadline jumped tenfold yesterday to $1. The price of
the option surged almost 29-fold today after Microsoft offered to
buy aQuantive for $66.50 a share, sparking a 78 percent rally in
the stock.


Read more at Bloomberg Exclusive News

Saudi company in lead to buy GE Plastics: source

(Reuters) - GE and Sabic declined to comment.




GE placed the Plastics unit on the block in January, after 2006 profit at the unit fell 22 percent to $674 million as the rising price of raw material benzene took a toll on margins.


Read more at Reuters.com Business News

UPDATE 1-Judge OKs Northwest bankruptcy exit

(Reuters) - Northwest spokesman Roman Blahoski said Gropper had not
officially signed the order approving the bankruptcy exit, but
voiced his approval in open court.




The airline has been restructuring in bankruptcy since
September 2005. Northwest's emergence would mark the first time
in almost five years that a major U.S. airline is not in
bankruptcy.


Read more at Reuters.com Bonds News

Germany's DAX Index Rises to 7-Year High; Bayer, Siemens Lead Gains

(Bloomberg) -- German stocks advanced, led by Bayer
AG, the world's largest maker of polyurethanes, on a report that
Saudi Basic Industries Corp. may pay $11 billion for General
Electric Co.'s plastics unit.

Siemens AG increased after Europe's biggest engineering
company said its supervisory board will hold an extraordinary
meeting on May 20 as the company seeks to find a new chief
executive officer after Klaus Kleinfeld resigned.


Read more at Bloomberg Stocks News

Lawyer Shortage Spurred by M&A Boom Sends Manhattan's Best to Brooklyn

(Bloomberg) -- When Josh Kleiman, a student at
Brooklyn Law School, interviewed at 17 law firms for a summer
position, 12 called back. He joined New York's Fried, Frank,
Harris, Shriver & Jacobsen, one of the city's most profitable.

The competition has increased for Kleiman and other
students at so-called second-tier law schools for jobs that pay
more than $3,000 a week, plus free lunches and cocktail parties.
New York's largest law firms have hired record numbers of summer
associates to deal with an abundance of work and defections of
lawyers to banks and private equity clients.


Read more at Bloomberg Exclusive News

Cocoa Rises for First Day This Week as Waves Threaten Indonesian Shipping

(Bloomberg) -- Cocoa in New York rose for the first
day this week as waves struck coastlines across Indonesia,
threatening to disrupt shipping from the third-largest supplier
of the beans used to make chocolate.

Waves as high as 4 to 5 meters (13 to 16 feet) hit parts of
the islands of Bali, Sumatra and Java, driving residents from
their homes and destroying fishing boats and beachside shacks,
Reuters reported today, citing officials and media reports.


Read more at Bloomberg Commodities News

Dubai's Ruling Sheikh May Buy Stake in Airbus Owner, Says Dell Undervalued

(Bloomberg) -- Dubai's ruler, whose holdings range
from Deutsche Bank AG to port operator Peninsular & Oriental Steam
Navigation Co., may invest in the owner of planemaker Airbus and
reckons Dell Inc. is undervalued.

Dubai International Capital LLC, a buyout firm controlled by
the sheikh, ``probably'' will buy a stake in Airbus owner European
Aeronautics, Defence & Space Co., Chief Executive Officer Sameer
al-Ansari said in an interview in Jordan today. The company has
``not got around'' to assessing an investment in Dell, he said.


Read more at Bloomberg Stocks News

Copper buckles under China fears, gold up

(Reuters) - Copper touched a seven-week low on Friday as fears about lower Chinese demand were reinforced by a rate rise in the country, while gold was buoyed by physical buying interest after the recent rout.

Oil prices hovered near eight-month highs as worries about gasoline shortages escalated and in agricultural markets coffee hit a new eight-year as the market fretted about tight supplies.


Read more at Reuters Africa

Mexican stocks rise, led by Walmex, America Movil

(Reuters) - Mexican equities rallied the previous two sessions after an
upgrade in Brazil's credit rating.




Deutsche Bank upgraded Mexican equities to "overweight"
from "neutral" but recommended to stay away from sectors
sensitive to the economic cycle as Mexico's growth eases its
pace in 2007.


Read more at Reuters.com Bonds News

Consumer sentiment improves in early May: U.Mich

(Reuters) - The median forecast on the overall sentiment reading among 65 analysts polled by Reuters was 86.5.




The survey's gauge of current consumer conditions was 103.8 in early May, down from a final April reading of 104.6, but its preliminary May measure on consumer expectations was 79.0, up from 75.9.


Read more at Reuters.com Economic News

Russia's AvtoVAZ and Canada's Magna plan car JV

(Reuters) - "It will be a car based on new components and new
technologies, and we hope that the price for the basic model
will be less than $12,000," Artyakov said.




"The parties agreed to set up modern design and development
processes and produce sedan, estate and hatchback models at a
new car assembly plant," he added.


Read more at Reuters.com Mergers News

UPDATE 1-Buffalo Wild plans to buy 9 franchised restaurants

(Reuters) - Shares of the company, which hit a new 52-week high of
$83.87 in early Nasdaq trade on Friday, were trading up more
than 5 percent at $83.27.




Buffalo Wild expects the $26 million restaurants
acquisition, funded through cash and marketable securities, to
close in the fourth quarter and add to its earnings.


Read more at Reuters.com Mergers News

Legrand Shares Jump on Speculation ABB May Offer to Buy the Switchmaker

(Bloomberg) -- Shares of Legrand SA, the world's
biggest maker of switches and plugs for homes and offices, rose
as much as 9 percent on speculation ABB Ltd. of Switzerland may
make a takeover bid for the company.

The stock climbed 2.35 euros to 28.4 euros and was trading
at 27.68 euros as of 2:55 p.m. in Paris, giving the Limoges,
France-based company a market value of 7.54 billion euros
($10.17 billion).


Read more at Bloomberg Stocks News

Valueclick up on aQuantive bid

(Reuters) - AQuantive shares shot up more than 78 percent to $63.90 in electronic composite trading.




Read more at Reuters.com Hot Stocks News

Cisco receives foreign approvals on WebEx deal

(Reuters) - Cisco had previously extended the expiration date of its offer to May 21 from May 7 because it did not expect foreign regulatory approvals in time.



) Keywords: WEBEX CISCO/


Read more at Reuters.com Mergers News

Czech Stocks Lead Central European Gains; CEZ, Unipetrol Shares Pace Jump

(Bloomberg) -- Czech stocks paced advances in central
and eastern Europe. CEZ AS jumped after the biggest Czech utility
reported profit because of higher power prices. Unipetrol AS, the
country's largest oil company, also gained.

Pegas Nonwovens SA climbed after Komercni Banka AS advised
investors to buy shares of Europe's second-biggest maker of
textiles for diapers.


Read more at Bloomberg Stocks News

Treasuries Halt Five Days of Losses as Higher Yields Spur Investor Demand

(Bloomberg) -- U.S. Treasuries snapped a five-day
decline on speculation 10-year yields at their highest in a
month will lure some investors.

The yield on the benchmark 10-year securities climbed to
4.76 percent yesterday, a level seen only three times in the
past three months. Two-year yields touched 4.78 percent today,
the highest since February.


Read more at Bloomberg Bonds News

Canada's Dollar Reaches 29-Year High Before Release of Retail Sales Report

(Bloomberg) -- Canada's dollar climbed to a 29-year
high before a government report that may show retail sales rose
in March for a second month.

The data follows a report yesterday that showed annual core
inflation accelerated in April, adding to speculation the Bank of
Canada will raise interest rates this year. Policy makers next
meet on May 29.


Read more at Bloomberg Currencies News

U.K. Pound Set for Weekly Decline as Investors Scale Back Rate Forecasts

(Bloomberg) -- The U.K. pound headed for its fourth
week of declines, its longest losing streak in 15 months, as
investors scaled back expectations of rate increases this year.

The pound also traded near a two-month low versus the euro
after inflation slowed last month and the central bank said in a
quarterly report the outlook for prices was ``unusually
uncertain.'' The pound extended declines as a report today showed
retail sales unexpectedly fell in April, prompting investors to
reduce bets the bank will raise rates.


Read more at Bloomberg Currencies News

Rothmans posts higher fourth-quarter profit

(Reuters) - Two analysts polled by Reuters Estimates expected a profit
of 25 Canadian cents a share, on average.







Read more at Reuters.com Market News

Robusta Coffee Rises to an Eight-Year High in London on Supply Speculation

(Bloomberg) -- Robusta coffee rose to an eight-year
high in London as declining stockpiles in Vietnam, the world's
biggest grower of the beans, reinforced expectations that global
supplies may fall short of demand this year.

Vietnamese stockpiles are ``very small, only about 100,000
tons nationally,'' Doan Trieu Nhan, Vice-Chairman of the Vietnam
Coffee and Cocoa Association, said in an interview May 16. That's
equal to about a 10th of the annual crop.


Read more at Bloomberg Commodities News

COMESA trade ministers agree external tariffs - Kenya

(Reuters) - Trade ministers of COMESA, whose members comprise 20-African nations, have agreed on a common external tariff system, Kenyan President Mwai Kibaki said on Friday.

He said under the accord, reached in Nairobi on Thursday, the common tariff will be 25 percent for finished goods, 10 percent for intermediate goods and zero for raw materials.


Read more at Reuters Africa

European shares at 6-1/2 yr highs; BP, Shell up

(Reuters) - European stocks jumped to their highest levels in about 6-1/2 years on Friday, extending early gains, with index heavyweights BP and Royal Dutch Shell among the biggest gainers on continued market talk of a possible tie-up.

The DJ Stoxx European oil and gas sector jumped 1.6 percent to head sector gainers, with BP and Royal Dutch Shell up 2.5 percent each. Both stocks had gained late on Thursday on strong volume on market talk of a tie-up.


Read more at Reuters Africa

Verizon Shares Raised to `Buy' From `Sell' at Citigroup on Profit Outlook

(Bloomberg) -- Shares of Verizon Communications Inc., the second-largest U.S. phone company, were upgraded by Citigroup Inc. on speculation that earnings will improve.

New York-based analysts including Michael Rollins raised their recommendation on the stock to ``buy'' from ``sell'' and lifted their price estimate for the shares 45 percent to $48, according to a report dated May 17.


Read more at Bloomberg Stocks News

Permira in exclusive talks to up Valentino stake

(Reuters) - Fellow private equity firm Carlyle Group [CYL.UL] also is angling to buy Valentino, a financial source familiar with the situation earlier told Reuters. Carlyle has declined to comment.




Read more at Reuters.com Mergers News

Vector Seeks to Raise Up to $4.94 Billion in Largest European Property IPO

(Bloomberg) -- Vector Hospitality Plc, Europe's first real estate investment trust for hotels, plans to raise as much as 2.5 billion pounds ($4.94 billion) in the continent's largest ever initial public offering of shares by a property company.

Vector plans to sell 200 million shares at between 995 pence and 1,115 pence each, the company said in a Regulatory News Service statement today. The IPO, to be managed by Deutsche Bank AG, can be increased by as much as 10 percent depending on demand. The shares are due to start trading in London on June 11.


Read more at Bloomberg Stocks News

US stocks dip as rate-cut hopes fade; Intuit up late

(Reuters) - U.S. stocks edged lower on Thursday as an upbeat report on business conditions in the mid-Atlantic region, coupled with data suggesting strength in the job market, signalled a reduced chance of interest-rate cuts.

Shares of interest-rate sensitive plays, including banks, declined.


Read more at Reuters Africa

Africa's itch to borrow: can the risks be limited?

(Reuters) - Africa's itch to borrow to hasten development is producing a flurry of ideas to limit the risk that the world's poorest continent could once more drown in a sea of unserviceable debt.

After debt write-offs by international financial institutions and Western governments of nearly $50 billion, some African states have the headroom to start borrowing anew. Others do not.


Read more at Reuters Africa