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