Soybeans May Rise in Chicago as U.S. Farmers Cut Plantings; Corn May Gain

(Bloomberg) -- Soybeans may rise to a three-year
high on the Chicago Board of Trade after U.S. farmers planted
the fewest acres in 12 years. Corn may climb as livestock and
dairy producers snap up the cheapest supplies since April.

Twenty of 25 traders, farm advisers and merchants surveyed
June 29 recommended buying soybeans, and 14 said to buy corn.
Soybeans for November delivery rose 6.1 percent last week to
$8.8175 a bushel, the eighth gain in nine weeks. December corn
tumbled 8.1 percent to $3.5075 a bushel, capping a two-week
decline of 16 percent, the largest such drop since July 1997.


Read more at Bloomberg Commodities News

Factory Growth in U.S. Was Near 13-Month High in June, Economists Say

(Bloomberg) -- U.S. manufacturing growth in June
probably stayed close to the highest level in 13 months, a sign
demand is picking up as businesses replenish stockpiles,
economists said before a report today.

The Institute for Supply Management's manufacturing index
stayed at 55 for a second month, according to the median of 70
forecasts in a Bloomberg News survey. Readings greater than 50
signal expansion.


Read more at Bloomberg Currencies News

Bank of England Likely to Lift Key Interest Rate to 5.75 Percent This Week

(Bloomberg) -- Bank of England policy makers will
probably raise the benchmark interest rate for the fifth time in a
year this week as Governor Mervyn King wins more support for an
increase to curb inflation, a survey of economists shows.

The nine-member Monetary Policy Committee will lift the Bank
Rate to 5.75 percent, the highest since April 2001, according to
53 out of 60 economists in a Bloomberg News survey. The central
bank will announce the decision at noon in London on July 5 and
release minutes of its meeting on July 18.


Read more at Bloomberg Bonds News

Aegon, Deutsche Telekom, Hannover Re, TeliaSonera: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 climbed 0.5 percent to 393.71. The
Dow Jones Stoxx 50 Index increased 0.6 percent to 3946.98. The
Euro Stoxx 50 Index, a benchmark for the 13 nations using the
euro, advanced 0.7 percent to 4489.77.


Read more at Bloomberg Stocks News

Universal Music declines long-term iTunes deal: source

(Reuters) - The music company could now agree to offer significant portions of its repertoire exclusively to new partners, potentially weakening Apple's dominant hold on digital music retail.




The two sides had extended a previous two-year agreement by 12 months last summer, and that deal expired last month, the source said.


Read more at Reuters.com Business News

Japanese Trading House Shares Rise After Crude Oil Gains, on Rating Call

(Bloomberg) -- Japanese trading company shares
advanced, led by Mitsui & Co. after the price of oil climbed to
a 10-month high and a brokerage gave the company its most
bullish recommendation.

The price of oil advanced 1.6 percent to close above $70 a
barrel last week. Mitsubishi UFJ Securities Co. initiated
coverage of Mitsui with a ``strong outperform'' rating.


Read more at Bloomberg Stocks News

Singapore's Straits Times Index Rises; SingTel, Oversea-Chinese Bank Gain

(Bloomberg) -- Singapore's benchmark stock index, the
Straits Times Index, rose 0.11 percent at 9:05 a.m.

The index of 49 companies traded on the Stock Exchange of
Singapore rose 3.82 to 3,552.02. Among the stocks in the index,
20 rose, 12 fell and 17 were unchanged.


Read more at Bloomberg Stocks News

Australian Oil Stocks Gain, Led by Woodside; Banks Drop on U.S. Concerns

(Bloomberg) -- Australian oil stocks rose, led by
Caltex Australia Ltd. and Woodside Petroleum Ltd. after oil traded
near its highest in 10 months.

Banking shares fell, led by St George Bank Ltd. and National
Australia Bank Ltd. after their U.S. peers dropped on concerns
losses on mortgages will deepen as the housing market weakens.


Read more at Bloomberg Stocks News

Euroyen futures ease after BOJ tankan meets forecasts

(Reuters) - Lead March euroyen futures eased 0.005 to 98.870
after the tankan was released.




September futures inched up to a three-week high,
rising 0.08 point to 132.09 in early trade.


Read more at Reuters.com Bonds News

Bank of England Will Probably Increase Key Interest Rate to 5.75 Percent

(Bloomberg) -- Bank of England policy makers probably
will raise the benchmark interest rate for the fifth time in a
year this week as Governor Mervyn King wins more support for an
increase to curb inflation, a survey of economists shows.

The nine-member Monetary Policy Committee will lift the Bank
Rate to 5.75 percent, the highest since April 2001, according to
seven out of 60 economists in a Bloomberg News survey. The
central bank will announce the decision at noon in London on July
5 and release minutes of its meeting on July 18.


Read more at Bloomberg Currencies News

Wesfarmers set to win Coles with sweeter bid: paper

(Reuters) - At the top end of the reported range, the bid would be worth about A$20.7 billion .




The paper, which did not cite sources, also said that because of the sweeter bid, Coles was unlikely to consider a second bid for parts of its operations from rival supermarket chain Woolworths Ltd. .


Read more at Reuters.com Business News

Danone LU arm to meet staff amid sale talk: source

(Reuters) - The source added that LU management had informed trade
unions that the meeting would be to discuss "changes within the
biscuit division."




The meeting comes amid market speculation and press reports
that Danone might sell LU, with U.S. company Kraft Foods
seen as a likely buyer.


Read more at Reuters.com Mergers News

Most iPhone owners gush but some have glitches

(Reuters) - Of 11 iPhone owners contacted by Reuters on Saturday, nine reported little or no trouble setting up their handsets, a combined cell phone, music player and Web browser.




"It's awesome, it's the best thing I ever saw in my life," said New York private detective Jerry Gregory. "Once people see this phone they are going to want one. Everybody I show this phone wants one, even people who were anti-iPhone."


Read more at Reuters.com Business News

Conrad Black's legal fights far from over

(Reuters) - The jury began deliberating on Wednesday on 13 counts of fraud, racketeering, obstruction, and tax violations that could imprison the 62-year-old Black for the rest of his life and drain what remains of his fortune with fines and forfeitures.




On hold until the criminal case concludes are additional lawsuits involving the Canadian-born Black, a member of Britain's House of Lords.


Read more at Reuters.com Bonds News