Bouygues, Dexia, Neopost, Vinci, Piscines Desjoyaux: French Equity Preview

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

The CAC 40 Index retreated 47.27, or 0.8 percent, to
6078.54. The broader SBF 120 Index also declined 0.8 percent.


Read more at Bloomberg Stocks News

Tata Consultancy to Hire 5,000 in Mexico as Rupee Drives Up Costs in India

(Bloomberg) -- Tata Consultancy Services Ltd.,
India's largest computer-services provider, plans to hire 5,000
workers in Mexico in the next five years as salaries climb in the
company's home market.

A software-development center in the Mexican city of
Guadalajara that opened last week will start with about 300
employees handling tasks done in India at the moment, Gabriel
Rozman, who heads the Mumbai-based company's operations in Latin
America, Spain and Portugal, said in an interview on June 4.


Read more at Bloomberg Emerging Markets News

Czech Premier Topolanek Seeks Budget Changes, Risks Government Collapse

(Bloomberg) -- Czech Prime Minister Mirek Topolanek,
facing an evenly divided parliament, will today seek lawmakers'
support for a package including an overhaul of the tax system and
cuts in public spending, whose failure may topple his government.

The bills, rejected by the opposition, the public and some
of the ruling coalition's 100 lawmakers, may face a first vote
today. Topolanek must persuade all the lawmakers from the three
coalition parties and at least one of the other 100 remaining
legislators to back changes including a flat income tax and
welfare-benefit cuts.


Read more at Bloomberg Bonds News

Asian Stocks Rise to a Record, Led by Japan's Mitsubishi; Canon, Toll Fall

(Bloomberg) -- Asian stocks rose to a record, led by
Mitsubishi Corp. after Daiwa Institute of Research Ltd. raised
share-price targets on Japanese trading companies and recommended
investors buy shares in Marubeni Corp.

``Trading companies have been eyeing various profit-making
opportunities where they can use earnings from their commodities
business,'' said Tomokatsu Mori, who helps oversee $7.4 billion at
Fukoku Capital Management Inc. in Tokyo.


Read more at Bloomberg Stocks News

Crude Oil Rises on U.S. Refinery Maintenance, OPEC's Ample Supply Outlook

(Bloomberg) -- Oil futures rose on concern that
refinery maintenance in the U.S. will limit increases in
gasoline supplies and OPEC's reluctance to boost output will
reduce crude stockpiles.

Valero Energy Corp., the largest U.S. refiner, closed two
gasoline production units at processing plants in Louisiana and
Houston yesterday. The Organization of Petroleum Exporting
Countries doesn't see the need to increase production amid ample
crude supplies, Abdalla el-Badri, the group's secretary general,
said in an interview in London yesterday.


Read more at Bloomberg Energy News

Japan's Five-Year Notes Little Changed; Report Signals More Export Demand

(Bloomberg) -- Japanese five-year notes were little
changed after a report showed U.S. service industries grew at the
fastest pace in more than a year, adding to optimism exports will
help sustain Japan's economic expansion.

Debt in Japan may follow a slump in Treasuries that yesterday
pushed two-year U.S. yields to the highest since August. Japan's
two-year yields climbed to 1 percent today for the first time in a
decade on speculation signs of faster global growth will prompt
the Bank of Japan to increase borrowing costs.


Read more at Bloomberg Bonds News

JGB futures claw back from 10-month low

(Reuters) - JGBs clawed back, pulling the 10-year yield down slightly
from a seven-month peak, as market players covered short
positions that had built up during the two-week slide.




But sentiment remained weak as Treasuries extended their
tumble the previous day and the U.S. 10-year yield pushed to a
10-month high near 5.0 percent.


Read more at Reuters.com Bonds News

Asustek Computer, Chinatrust, AU Optronics, Yageo: 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 yesterday's close unless otherwise stated.

The Taiex index added 0.1 percent to 8303.99 in Taipei, its
highest since July 19, 2000. Futures due in June slipped 3 points
to 8254.


Read more at Bloomberg Stocks News

Japan's Government Notes May Fall; U.S. Report Signals More Export Demand

(Bloomberg) -- Japanese five-year notes may fall for a
fifth day after a report showed U.S. service industries grew at
the fastest pace in more than a year, adding to optimism exports
will help sustain Japan's economic expansion.

Debt in Japan may follow a slump in Treasuries that yesterday
pushed two-year U.S. yields to 5 percent for the first time since
August. Japan's five-year note yields yesterday climbed to the
highest since July on speculation signs of faster global growth
will back the central bank's case for higher borrowing costs.


Read more at Bloomberg Bonds News

Australian Dollar Trades Near 18-Year High on Economic Growth Expectations

(Bloomberg) -- The Australian dollar traded near an
18-year high as recent figures suggest a government report today
will show that economic growth is accelerating.

The local dollar is the world's second-best performer after
New Zealand's this month as traders raise bets the Reserve Bank
of Australia will increase the cost of borrowing. Home building
approvals rebounded and company profits rose at the fastest pace
in almost two years, according to reports this week.


Read more at Bloomberg Currencies News

States urge US EPA to tighten rules on coal plants

(Reuters) - "Pollution from coal-burning power plants and other
facilities cause real problems throughout the United States
from acid rain to urban smog to global warming," New York
Attorney General Andrew Cuomo said in a statement.




Cuomo and attorneys general from the other mostly East
Coast and western states urged the Environmental Protection
Agency to change its proposed rule on enforcement of the New
Source Review program, which seeks to ensure air quality is not
worsened by overhauls and additions at power plants and other
emissions sources.


Read more at Reuters.com Bonds News

Canada's Conservatives could lose legislator

(Reuters) - Neither the government's immediate survival nor the budget
bill itself will likely be jeopardized by Member of Parliament
Bill Casey's decision, but it might make it a little more
difficult for the Conservatives to stay in power down the
road.




Casey says he will oppose the budget because it breaks a
promise to Nova Scotia to allow it special treatment, because
of its oil and gas industry, when federal "equalization" funds
are distributed to the provinces.


Read more at Reuters.com Bonds News

Marubeni, Sony, Ito En, Link Theory, Starzen: Japanese Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Dream Incubator Inc. (4310 JT): The venture consulting
company will buy back up to 5.02 percent of its total outstanding
shares for as much as 1 billion yen. The stock slipped 2,000 yen,
or 0.9 percent, to 230,000.


Read more at Bloomberg Stocks News

Disney to keep $1.35 bln cash from Citadel deal

(Reuters) - The $1.35 billion represents proceeds of debt that ABC Radio will assume before the spinoff.



) Keywords: DISNEY CITADEL/


Read more at Reuters.com Bonds News

Telecom-equipment on buyout radar with Avaya deal

(Reuters) - Following the bubble and burst of the late 1990s and 2000, technology companies have been increasingly targeted by private equity as the sector matures.




The early trends were to take software, services and semiconductor companies private, but buyout firms are widening their searches for new opportunities.


Read more at Reuters.com Mergers News

Motorola Misled Bondholders on Iridium, Creditors Tell Bankruptcy Judge

(Bloomberg) -- Motorola Inc., the world's second-
biggest mobile-phone maker, misled investors about the prospects
of its failed Iridium LLC satellite unit and should be forced to
repay more than $3.45 billion to bondholders, lawyers said.

In closing arguments before Judge James Peck in U.S.
Bankruptcy Court in Manhattan today, a lawyer for Iridium
creditors said the company was insolvent even before its 1998
launch because Motorola saddled it with debt and a poor business
plan as consumers shunned its bulky, expensive phones.


Read more at Bloomberg Bonds News

Corn Falls, Erasing Gains, as Rains Boost Early Development of U.S. Crop

(Bloomberg) -- Corn fell in Chicago, erasing earlier
gains, on speculation the second-highest U.S. crop ratings since
1986 will lead to record production and rising global
inventories.

An estimated 78 percent of the U.S. crop was rated good or
excellent as of June 3, unchanged for the third consecutive
week, the U.S. Department of Agriculture said yesterday. A year
earlier, 71 percent had the highest ratings.


Read more at Bloomberg Commodities News

Hog Futures Rise to One-Month High on Corn Costs; Cattle Futures Advance

(Bloomberg) -- Hog futures in Chicago rose to the
highest in more than a month as climbing corn prices threatened
to trim the size of the hog herd. Cattle futures also rose.

Prices for corn, the main ingredient in hog feed, have
climbed three straight weeks and are up 50 percent in the past
year on demand for corn-based ethanol. It takes about 12 bushels
of corn, or 670 pounds (304 kilograms), to fatten a 40-pound
feeder pig to a slaughter weight of 250 pounds.


Read more at Bloomberg Commodities News

Gold Futures Decline in New York on Sales by Central Banks: Silver Rises

(Bloomberg) -- Gold in New York fell on speculation
that central banks will increase bullion sales. Silver rose.

European central banks will probably sell all 500 metric
tons of gold allowed under an agreement that goes through Sept.
26, UBS AG said in a report today. UBS previously forecast sales
of 400 tons. Gold gained 1.5 percent on June 1, partly because
the European Central Bank, one of the signatories of the accord,
said it won't sell more gold until September.


Read more at Bloomberg Commodities News

SEC says IBM misled investors on expenses

(Reuters) - The securities regulator made the statement as it reached a settlement with International Business Machines Corp., in which the company agreed not to commit future disclosure violations.




The SEC did not impose any monetary penalties and IBM, the world's largest technology services company, did not admit or deny the SEC's findings in the settlement announcement.


Read more at Reuters.com Business News

Fed's Warsh-Too soon to say subprime woes over

(Reuters) - "We haven't seen major slippage, even in the broader housing
market or in the broader credit markets."




However, he was cautious on calling the end of the downturn
in the U.S. housing market. "It would be premature for us to
call that chapter complete," Warsh said.


Read more at Reuters.com Bonds News

Calpers to invest $700 mln in health care

(Reuters) - "This initiative represents a significant opportunity to leverage our twin roles as a leading health benefits purchaser and investor to bolster our market returns while addressing severe inefficiencies in the healthcare sector," Rob Feckner, Calpers Board President, said in a statement.




Read more at Reuters.com Business News

Neopost Q1 sales up 1.3 pct, keeps 2007 goals

(Reuters) - "We made a very good start to 2007. Second-quarter business
levels will be very strong in the United States due to the
introduction of the new postal pricing structure in mid-May. We
are confident in our full-year performance," Chairman and CEO
Jean-Paul Villot said in the statement.




Revenue grew to 226.2 million euros from
223.3 million euros in the year-ago quarter. Excluding currency
effects, sales rose 5.1 percent.


Read more at Reuters.com Market News

OSI Restaurant shareholders approve buyout offer

(Reuters) - Last month, an investment group including private equity firms Bain Capital and Catterton Partners as well as OSI Restaurant's founders increased their offer by 3 percent to about $3.18 billion. The offer was increased after a shareholder vote was postponed twice because of too few votes.



OSI Restaurant said it expects the plan will be consummated on or before June 19, subject to certain conditions.


Read more at Reuters.com Mergers News

Procter & Gamble stands by forecast

(Reuters) - The company, whose products include Gillette razors, Pampers diapers and Tide laundry detergent, said it should earn 64 cents to 66 cents per share in its fourth quarter, which ends in late June. Analysts on average expect profit of 66 cents per share, according to Reuters Estimates.




While the company's forecast still suggests that its profit could miss Wall Street's expectations, investors were pleased with the affirmation, sending shares of P&G up slightly.


Read more at Reuters.com Hot Stocks News

Harvard's Faust Aims to Unify the School, Succeed Where Summers Failed

(Bloomberg) -- Harvard University President-elect
Drew Gilpin Faust must unify the school, a task none of her
predecessors could complete.

Harvard's ruling board urged the 59-year-old Faust to
transform the university's 11 schools into a cohesive entity from
a collection of institutions that share geography in Cambridge,
Massachusetts. Greater unity has been a goal for a half-century
of leaders, including former U.S. Treasury Secretary Lawrence H.
Summers, whose five-year presidency collapsed last year under
pressure from faculty members.


Read more at Bloomberg Exclusive News

Soros says he is a speculator in Brazilian ethanol

(Reuters) - "I know the term has negative connotations in Portuguese, but I have to admit I am a speculator," Soros told an audience at Brazil's first Ethanol Summit in Sao Paulo.




"Brazil has the capacity to increase its production ten-fold but the regulatory environment doesn't allow that."


Read more at Reuters.com Bonds News

U.S. Stocks Fall on Service Industry Report; Bed Bath & Beyond Shares Drop

(Bloomberg) -- U.S. stocks dropped after growth in
the service industry accelerated faster than expected, pushing
bond yields to the highest level since August.

A gauge of retailers declined the most among 24 industries
in the Standard & Poor's 500 Index after Bed Bath & Beyond Inc.,
the largest U.S. home-furnishings chain, said falling home sales
hurt its earnings. Exelon Corp. led shares of utilities to the
steepest drop among 10 groups as higher bond yields make their
dividends less attractive.


Read more at Bloomberg Stocks News

Ontario Teachers raises stake in BCE to 6.3 pct

(Reuters) - Teachers' said it now owns 50.8 million shares in BCE, Canada's largest telecommunications firm, which the fund said in April it is considering making a bid for.



Teachers' owned 42.8 million shares, or 5.3 percent, of BCE on March 31, according to Reuters data.


Read more at Reuters.com Mergers News

Canadian Stocks Fall, Led by Energy Producers, on Declining Oil Prices

(Bloomberg) -- Canadian stocks declined from a
record, led by energy producers including EnCana Corp., as crude
oil and natural-gas prices fell.

Losses in the Standard & Poor's/TSX Composite Index were
limited as shares of BCE Inc. gained after the telephone
company's largest shareholder increased its stake.


Read more at Bloomberg Stocks News

U.S. Stocks Fall on Bernanke Comments; Bed Bath & Beyond, Exxon Mobil Drop

(Bloomberg) -- U.S. stocks dropped after Federal
Reserve Chairman Ben S. Bernanke said the housing slump may
hinder the economy longer than previously expected.

A gauge of retailers declined the most among 24 industries
in the Standard & Poor's 500 Index after Bed Bath & Beyond, the
largest U.S. home-furnishings chain, said falling home sales
hurt its earnings. Exxon Mobil Corp. led energy producers to the
biggest drop among 10 groups after oil prices declined.


Read more at Bloomberg Stocks News

European 10-Year Government Bond Yield Rises to Highest Since 2003 on ECB

(Bloomberg) -- European government bonds declined,
pushing benchmark 10-year yields to the highest since 2003, on
speculation the European Central Bank will lift interest rates
tomorrow and signal further increases this year.

Yields on two-year notes, more sensitive to interest-rate
expectations, also reached a six-year high after a report today
showed expansion in European service industries picked up in May,
adding to the case for higher rates.


Read more at Bloomberg Bonds News

CorVel buys medical management firm Schaffer

(Reuters) - The acquisition closed on June 1, the provider of medical
cost containment and managed care services said in a
statement.





Read more at Reuters.com Mergers News

US STOCKS-Futures extend slide on Bernanke remarks

(Reuters) - NEW YORK, June 5 - U.S. stock index futures
indicated a weaker start for Wall Street on Tuesday after
Federal Reserve Chairman Ben Bernanke said inflation risks
remain to the upside, suggesting equity investors shouldn't
look forward to a rate cut any time soon.




Futures added to losses following Bernanke's remarks. The
Fed chief said the economy is set to grow at a sluggish pace in
coming months but warned there were risks elevated levels of
inflation, excluding food and energy, may not recede.


Read more at Reuters.com Bonds News

FDA grants priority review for pediatric Abilify

(Reuters) - With priority review status, the U.S. Food and Drug
Administration will make its decision on whether to approve the
additional use of the drug by teenagers within six months,
rather than the usual 10- to 12-month review period.




The agency generally grants priority review to products
that are considered to be potentially significant therapeutic
advancements over existing therapies.


Read more at Reuters.com Government Filings News

Egypt Plans to Sell $1 Billion of Egyptian-Pound Eurobonds Next Month

(Bloomberg) -- Egypt will sell 5.7 billion Egyptian
pounds ($1 billion) of Eurobonds denominated in the local currency
in July, Finance Minister Youssef Boutros-Ghali said today.

Egypt will sell the Eurobonds to international investors in
the first offering of its kind, Boutros-Ghali said in an interview
on the sidelines of an economic conference in Cairo.


Read more at Bloomberg Emerging Markets News

U.K. FTSE 100 Index Falters as Standard Chartered, InterContinental Fall

(Bloomberg) -- U.K. stocks erased gains as Standard
Chartered Plc and InterContinental Hotels Group Plc declined. BHP
Billiton paced advancing shares.

The benchmark FTSE 100 Index retreated 4.6, or 0.1 percent,
to 6659.5 in London at 12:22 p.m. The index rose as much as 0.3
percent earlier. The FTSE All-Share Index slipped 2.78, or 0.1
percent, to 3455.9. Ireland's ISEQ Index declined 196.72, or 2
percent, to 9766.72.


Read more at Bloomberg Stocks News

Gold May Decline for Second Day in London on Bank Sales; Silver Advances

(Bloomberg) -- Gold may decline in London for a
second straight day on speculation that central banks in Europe
will increase bullion sales. Silver gained.

Spain's central bank reduced its gold holdings to 9.9
million ounces in May, from 10.8 million ounces at the end of
April, according to a statement on its Web site today. European
central banks will probably sell all 500 tons of gold allowed
under an agreement that goes through Sept. 26, UBS AG said in a
report today. It previously forecast sales of 400 tons,


Read more at Bloomberg Commodities News

U.A.E. May Be Next Arab Nation to End Dollar Peg, Currency Forwards Show

(Bloomberg) -- The United Arab Emirates may be the
next Middle Eastern country to stop pegging its exchange rate to
the U.S. dollar, according to trading in currency forwards.

The second-largest Arab economy may follow Syria and Kuwait,
which both said in the past two weeks that they would dump the
dollar peg to curb rising import costs and inflation. Middle East
currencies have been dragged lower by declines in the dollar,
pushing up the cost of imports from Europe and Asia.


Read more at Bloomberg Currencies News

Russia Wimm-Bill-Dann posts record Q1 sales growth

(Reuters) - Group sales rose 40.1 percent from a year earlier to $542.8 million at New York-listed Wimm-Bill-Dann, which is also a major player on the fruit juice market.



Earnings before interest, taxation, depreciation and amortisation were up 58.8 percent to $70.4 million and net income gained 84.8 percent to $32.1 million, Wimm-Bill-Dann said in a statement.


Read more at Reuters.com Market News

China's Stock Index Gains, Rebounding From Loss: World's Biggest Mover

(Bloomberg) -- China's key stock index rose 3.5
percent, after plunging as much as 7.5 percent, on speculation
the government will take steps to halt a rout that wiped out more
than $400 billion of market value in less than a week.

Datong Coal Industry Co. and Hong Yuan Securities Co. were
among 20 stocks on the measure that rose by the 10 percent daily
cap. Only two index members fell by the maximum, down from about
100 at the midday break.


Read more at Bloomberg Stocks News

Philippine Government Bonds Fall on Inflation Data: World's Biggest Mover

(Bloomberg) -- Philippine bonds slumped, the biggest
fluctuation of any government debt market today, after a report
showed inflation accelerated for a second straight month. The
peso weakened.

Yields on five-year notes rose to the highest since
December on speculation quickening inflation, supported by
rising oil prices, will give the central bank less room to
reduce interest rates. The economy grew a faster-than-expected
6.9 percent last quarter, curbing speculation policy makers will
reduce borrowing costs.


Read more at Bloomberg Bonds News

Japan's Five-Year Notes Fall; Yields Rise to 11-Month High as Stocks Gain

(Bloomberg) -- Japan's government notes fell,
pushing five-year yields to the highest in 11 months, on
speculation a gain in share prices will cut demand for debt.

Yields on five-year notes have climbed faster than those on
10-year securities since the start of last month on increasing
concern the Bank of Japan will raise borrowing costs again this
year. The Nikkei 225 Stock Average advanced for a fourth day,
the longest stretch since March.


Read more at Bloomberg Bonds News

Euroyen futures hit 9-year low on BOJ rate worries

(Reuters) - Swap contracts on the overnight call rate show an 80 percent
chance of a rate increase in August and are almost fully pricing
in a move by September.




Read more at Reuters.com Bonds News

Zoellick on whirlwind tour for World bank job

(Reuters) - Robert Zoellick, U.S. President George W. Bush's nominee to head the World Bank, will travel to Africa, Europe and Latin America to lobby for the job starting on Monday, and said he wants to hear directly from governments about their development priorities.

"I want to leave no stone unturned in showing people I am serious in reaching out and hearing their perspectives. It shows courtesy and respect," the former deputy secretary of state told reporters during a call before he left for Ghana, his first stop in Africa.


Read more at Reuters Africa

Sudan restricts foreign currency transactions

(Reuters) - Sudan's central bank said on Monday it had imposed restrictions on foreign currency transactions, a move money traders said would harm their businesses and create a black market.

The new regulations, from which foreigners and foreign organisations are exempt, prevent Sudanese from buying foreign currencies from money exchanges for imports or to credit personal accounts in Sudan. They also limit Sudanese usage of foreign currency unless those monies have been transferred from outside the country.


Read more at Reuters Africa