Gold up on weak dollar, TOCOM dips on NY

(Reuters) - Gold inched up on Tuesday to track a weaker U.S. dollar, while Tokyo futures fell, reflecting losses in New York's COMEX market and a firm yen.

Spot gold rose slightly to $681.70/682.30 an ounce at 0250 GMT, from $681.00/681.80 late in New York on Monday.


Read more at Reuters Africa

Dollar hits 2-month low vs yen, languishes vs euro

(Reuters) - The dollar fell to a two-month low against the yen and hovered near a record low against the euro on Tuesday as worries about U.S. subprime mortgage woes hurting the credit market and the U.S. economy still weighed.

Traders said market sentiment remained bearish for the dollar, and players were awaiting U.S. economic data later in the week for clues on whether the problems in the housing sector were spreading to broader economic activity.


Read more at Reuters Africa

Akzo, Comdirect, Fiat, Hypo Real Estate, Nestle: 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 added 0.6 percent to 394.99. The Dow
Jones Stoxx 50 Index advanced 0.8 percent to 3939.24. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
climbed 0.8 percent to 4482.75.


Read more at Bloomberg Stocks News

AIG Wins Approval to Establish Chinese Unit Focused on Property-Casualty

(Bloomberg) -- American International Group Inc.,
the world's largest insurer, won approval to start a new Chinese
subsidiary that should make it easier to add branches selling
property and liability insurance.

The China Insurance Regulatory Commission authorized the
creation of AIG General Insurance Company China Ltd., a wholly
owned subsidiary headquartered in Shanghai, the New York-based
insurer said in a statement today. The license is expected to
help AIG expand its property and liability operations beyond
Shanghai, Guangdong, and Shenzhen.


Read more at Bloomberg Emerging Markets News

Australian Dollar Trades at 18-Year High on Speculation of Rate Increase

(Bloomberg) -- The Australian dollar rose to an 18-
year high against the U.S. currency as some traders raised bets
the central bank will increase interest rates next month to slow
inflation. The currency dropped versus New Zealand's dollar.

Australia's dollar is the third-best performer this month
among the 16 most-active currencies as an index calculated by
Credit Suisse Group suggested speculators are increasing the odds
of higher borrowing costs. A report yesterday showed producer
prices gained more than expected in the second quarter and
figures tomorrow may show inflation accelerated.


Read more at Bloomberg Currencies News

South Korea Stocks Fall, Reversing Earlier Gains; Exporters Drop on Won

(Bloomberg) -- South Korean stocks dropped, erasing
earlier gains. Samsung Electronics Co. declined after the won
rose to the highest since December against the dollar, eroding
the local-currency value of exporters' overseas earnings.

Samsung Heavy Industries Co. advanced after it said second-
quarter profit jumped to a record.


Read more at Bloomberg Stocks News

South Korea's Kospi Tops 2,000 for First Time After 39 Percent 2007 Rally

(Bloomberg) -- South Korea's benchmark Kospi index
exceeded 2,000 for the first time. It has risen 39 percent so far
this year, the second-best performance among Asia's main stock
indexes after China's CSI 300 Index.

The Kospi index climbed 9.99, or 0.5 percent, to 2,003.04 as
of 9:03 a.m. in Seoul. The Kosdaq added 0.7 percent to 824.46.
Kospi 200 futures expiring in September gained 0.3 percent to
254.25, while the underlying index rose 0.4 percent to 253.27.


Read more at Bloomberg Stocks News

UPDATE 1-Everest Re posts higher second-quarter earnings

(Reuters) - Everest Re said net earnings were $282.9 million, or $4.45
a share, up from $220.4 million, or $3.38 a share, in the
year-earlier quarter.




The Hamilton, Bermuda-based reinsurer said operating
earnings, which analysts use to measure performance because it
excludes investments, were $213.3 million, or $3.36 a share.


Read more at Reuters.com Market News

UPDATE 1-Thomas & Betts posts higher profit, ups outlook

(Reuters) - The Memphis, Tennessee-based electrical components maker
posted net income of $46.6 million, or 80 cents per share,
beating Wall Street's consensus estimate by 2 cents, according
to Reuters Estimates.




Its year-ago net income was $41.0 million, or 66 cents per
share.


Read more at Reuters.com Market News

UPDATE 2-Equifax posts higher second-quarter earnings

(Reuters) - Equifax, which recently finished its purchase of payroll
services provider Talx Corp, said net income was $70.1 million
or 51 cents a share compared with $69.6 million or 53 cents a
share on fewer shares a year ago.




Atlanta-based Equifax said revenue increased to $454.5
million, up 17 percent from the year earlier. International
revenue rose 15 percent, while revenue at its North American
consumer unit climbed 24 percent.


Read more at Reuters.com Bonds News

BHP, Dynasty Metals, PBL, Retail Food, Woodside: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed yesterday. Prices
are from yesterday's close unless otherwise stated. Stock symbols
are in brackets after the company names.

The S&P/ASX 200 Index futures contract due in September
gained 0.3 percent to 6396 at 6:58 a.m. in Sydney. The Bank of
New York Australia ADR Index added 1.2 percent in New York.


Read more at Bloomberg Stocks News

Emerging debt-Prices fall in slow market, Turkey outperforms

(Reuters) - Overall emerging market returns fell 0.19 percent on the
benchmark JP Morgan's EMBI+ index , reducing 2007 gains
to about 1 percent. Brazil's liquid global bond due 2040
slipped 0.063 point to be bid 131.125.




Yield spreads over U.S. Treasury notes, an important gauge
of risk aversion, widened 2 basis points to a four-month wide
182 basis points, the EMBI+ showed.


Read more at Reuters.com Bonds News

Treasury's Paulson Says a `Strong' Dollar Is in Best Interest of U.S.

(Bloomberg) -- U.S. Treasury Secretary Henry
Paulson said the U.S. is best served by a ``strong'' dollar, and
the currency's value should be set by investors in an open
market.

``We feel very strongly, I do, that a strong dollar is in
our nation's interest and the dollar's value should be
determined in a competitive marketplace based on economic
fundamentals,'' Paulson said today in an interview on CNBC in
Washington.


Read more at Bloomberg Currencies News

KDDI, Obic, Stanley Electric, Rengo, Noel, Sanken: Japan 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.

KDDI Corp. (9433 JT): Japan's second-biggest mobile-phone
carrier said first-quarter net income rose 9 percent to 82.5
billion yen ($682 million) after winning customers from NTT
DoCoMo Inc. (9437 JT) and Softbank Corp. (9984 JT). KDDI lost
23,000 yen, or 2.7 percent, to 830,000. DoCoMo fell 5,000 yen, or
2.8 percent, to 176,000. Softbank slipped 90 yen, or 3.4 percent,
to 2,575.


Read more at Bloomberg Stocks News

Altera profit climbs slightly as costs fall

(Reuters) - Net income was boosted, in part, by a reduction in costs
from the year-ago quarter and a rise in interest and other
income.




The company also said sales of its new products climbed 26
percent from the previous quarter. Revenue declined 4 percent
to $319.7 million a year ago.


Read more at Reuters.com Market News

W.R. Berkley quarterly profit rises

(Reuters) - The Greenwich, Connecticut-based company reported net
income of $190.6 million, or 93 cents a share, compared with
$165.5 million, or 82 cents a share, in the year-ago period.




Analysts on average expected the company to earn 91 cents a
share, excluding items, according to Reuters Estimates.


Read more at Reuters.com Market News

TREASURIES-Bonds ease as subprime off radar,stocks rally

(Reuters) - NEW YORK, July 23 - U.S. government bonds eased
on Monday, pulling benchmark yields back from recent six-week
lows, as a dearth of subprime mortgage news prompted the
unwinding of flight-to-quality trades and stocks surged after
Friday's plunge.




Analysts said the market was looking a bit expensive after
the 10-year Treasury note yield dived to 4.93 percent on
Friday, its lowest level since June 5. That was triggered by
mounting problems in the subprime sector.


Read more at Reuters.com Bonds News

Starbucks raising U.S. drinks prices next week

(Reuters) - "We're always looking at the business costs, and given the rising cost environment in which we operate we think this is an appropriate time," spokesman Brandon Borrman said.




The increase affects drinks made behind the counter and is effective July 31 at Starbucks' company-owned stores in the United States, spokesman Brandon Borrman said. Licensed stores control their own prices but are expected to follow the move, he added.


Read more at Reuters.com Business News

Agbar to announce Applus+ bid winner Tues -source

(Reuters) - The period in which interested parties could present bids
for Applus+ closed on Friday.




Applus+, which inspects and certifies everything from cars
and crops to ships and factories, is 53.1 percent owned by
Agbar, 25 percent by power company Union Fenosa and
21.9 percent by savings bank Caja Madrid.


Read more at Reuters.com Mergers News

UPDATE 1-Mexico's Maxcom files for U.S. IPO

(Reuters) - The underwriter is Morgan Stanley, according to a
preliminary prospectus filed with the U.S. Securities and
Exchange Commission.




The company did not identify the U.S. exchange or the
proposed symbol for its IPO.


Read more at Reuters.com Bonds News

UAW says has already made concessions to Ford

(Reuters) - "It's fair to say we have given a lot," Gettelfinger told reporters, speaking at Ford's headquarters after the union and the struggling No. 2 U.S. automaker began talks on a new contract to replace a four-year deal expiring on Sept. 14.



Gettelfinger referred to the union's agreement to a recent buyout program for Ford factory workers and a 2005 deal that allowed the company to cut its costs for retiree health care.


Read more at Reuters.com Bonds News

Brazil's Real Rises to Highest in Almost Seven Years on Economic Forecasts

(Bloomberg) -- Brazil's real rose to the strongest
in almost seven years after economists boosted their growth
forecasts in a weekly central bank survey.

The real has gained 16 percent against the dollar so far
this year, the best performance among the most active
currencies. It has been buoyed by rising commodity exports and
foreign investment in the country's stock and bond markets.


Read more at Bloomberg Currencies News

Booming IPO market deepens top exchanges' rivalry

(Reuters) - The New York Stock Exchange and Nasdaq Stock Market Inc.
have stepped up the wooing process as a spate of
higher-profile deals worth more than $1 billion have raised the
stakes.




"You can look at any of the recent IPOs that came to our
market and pretty much take for granted there was a
competition," said Noreen Culhane, an executive vice president
at NYSE Euronext , which owns NYSE.


Read more at Reuters.com Mergers News

Nymex Gas Falls to Seven-Month Low on Mild U.S. Weather, Ample Inventories

(Bloomberg) -- Natural gas fell to a seven-month low
in New York as a combination of mild temperatures and high
inventories served to undercut demand and push down prices.

The potential for hot weather forecast last week for the
high-demand areas of the U.S. East Coast later this week is now
``diminished'' and temperatures will be lower than normal, MDA
Federal Inc.'s Earthsat Energy Weather of Rockville, Maryland,
said in an outlook today.


Read more at Bloomberg Energy News

U.K. FTSE 100 Index Increases, Led by Friends Provident on Merger Talks

(Bloomberg) -- U.K. stocks rallied, led by Friends
Provident Plc after Resolution Plc said it is in ``advanced''
merger talks with the insurer. Prudential Plc and Legal & General
Group Plc rose after UBS AG recommended investors buy the shares.

Antofagasta Plc and Anglo American Plc paced gains in mining
companies. Barclays Plc rose after the bank increased its offer
for ABN Amro Holding NV.


Read more at Bloomberg Stocks News

Treasuries Fall as Stocks Rise; Traders Suggest Potential for Further Gain

(Bloomberg) -- Treasuries fell the most in more than
a week amid a rise in stocks as traders speculated that
individual investors had yet to participate widely in equity
increases, suggesting potential for further gains.

The 10-year swap spread held near the widest in five years,
suggesting persistent concern losses on subprime loans in the
U.S. will hurt the broader economy. Treasuries gained last week
as traders canceled bets on riskier securities as credit spreads
widened. Fully hedged market participants had less need to buy
Treasuries today leading to a loss in momentum, traders said.


Read more at Bloomberg Bonds News

Old Dominion, Saia fall on Bear Stearns downgrade

(Reuters) - The soft market has hit prices. Last week, LTL operator Con-way Inc. Chief Executive Doug Stotlar told Reuters that pricing has now bottomed out and should not worsen further in 2007.




But concerns over the pricing environment for LTL companies persist, which were reflected in the Bear Stearns decision to downgrade both Old Dominion and Saia to "underperform" from "peer perform."


Read more at Reuters.com Hot Stocks News

Arrow, Cumulus, Donaldson, Ev3, Expedia, Netflix: U.S. Equity Movers

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

Arrow International Inc. (ARRO US) rose $6.46, or 17
percent, to $44.25. Teleflex Inc. (TFX US) said it agreed to
acquire Arrow for $2 billion, adding products for critical and
cardiac care. Under the agreement approved by both companies'
boards, holders of Arrow would get $45.50 a share, 20 percent
more than the stock's closing price July 20, the companies said
in a statement on Business Wire. Teleflex rose $1.64 to $86.94.


Read more at Bloomberg Stocks News

UPDATE 1-American Standard to sell bath unit for $1.76 bln

(Reuters) - American Standard said the sale of the bath unit, which has
annual sales of $2.4 billion and sells plumbing products under
names such as American Standard and Porcher, is expected to be
completed in the fourth quarter.




The sale is part of American Standard's plan to split up
its three business units. The company is to spin off its
vehicle-controls business later this month. It plans to keep
its heating and air-conditioning business and change the
company name to Trane, its flagship brand.


Read more at Reuters.com Bonds News

Treasuries Little Changed as Stocks Gain Amid Declining Subprime Concern

(Bloomberg) -- Treasuries were little changed after
paring earlier declines as gains in stocks suggested less concern
among investors that losses on subprime loans in the U.S. will
hurt the broader economy.

Treasuries gained last week as traders canceled bets on
riskier securities as credit spreads widened. As they became
fully hedged, Treasuries lost some momentum, traders said.


Read more at Bloomberg Bonds News

Arrow International, LifePoint Hospitals, Tellabs: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 9:35 a.m. in New York.

Arrow International Inc. (ARRO US) rose $6.43, or 17
percent, to $44.22. Teleflex Inc. (TFX US) said it agreed to
acquire Arrow for $2 billion, adding products for critical and
cardiac care. Under the agreement approved by both companies'
boards, holders of Arrow would get $45.50 a share, 20 percent
more than the stock's closing price July 20, the companies said
in a statement on Business Wire. Teleflex rose $1.11 to $86.41.


Read more at Bloomberg Stocks News

India Dr. Reddy's Q1 net up 30.5 pct, lags forecast

(Reuters) - By Himangshu Watts



MUMBAI, July 23 - Indian drug maker Dr. Reddy's Laboratories Ltd. on Monday missed expectations with a 30.5 percent rise in first quarter net profit, although demand for cheaper generic drugs was strong as countries look to cut healthcare costs.


Read more at Reuters.com Market News

Gold trades near 10-week highs on weaker dollar

(Reuters) - Gold was firm on Monday, holding near 10-week highs as the dollar hit record lows against the euro on worries about the U.S. subprime mortgage sector.

Gold stood at $683.80/684.60 an ounce at 1310 GMT, compared with $682.90/$683.70 late in New York on Friday, when it touched $686, the highest since May 9 and a gain of more than $20 since last Monday.


Read more at Reuters Africa

Arrow International, LifePoint Hospitals, Tellabs: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges.
This preview includes news that broke after exchanges closed.
Stock symbols are in parentheses after company names. Share
prices are as of 8:55 a.m. in New York.

Amgen Inc. (AMGN US) rose 65 cents to $56.83 in trading
before U.S. exchanges opened. The company's anemia drugs will be
restricted at high doses for patients on kidney dialysis
treatment, according to a statement from the U.S. health program
for the elderly and disabled. The policy will provide greater
restrictions on dosages when a patient's level of hemoglobin
exceeds 13 grams per deciliter of blood, the Medicare agency
said.


Read more at Bloomberg Stocks News

Investor morale dips in July on housing, energy costs-UBS

(Reuters) - Investors' views on the U.S. economy in the next 12 months
fell even more steeply. The index's Economic Dimension
plummeted to 16 in July from 22 the prior month.




But strong stock market gains in the first half of the
month actually pushed the Index's Personal Dimension, which
measures optimism about investors' personal investment
portfolios, up four points in July to 71, UBS said.


Read more at Reuters.com Economic News

Arch Coal second-quarter profit declines

(Reuters) - In April, Arch said coal prices were starting to rise and
the company was poised to benefit from production cuts last
year.





Read more at Reuters.com Market News

Nigeria's Access Bank to raise $550 mln via offer

(Reuters) - Nigeria's Access Bank Plc on Monday launched a 70 billion naira public share offering to finance growth projects.

The bank will sell 4.73 billion shares at 14.90 naira each to raise tier one capital to 98.39 billion naira -- far above the 25 billion naira minimum set by the regulator.


Read more at Reuters Africa

Hasbro profit beats views on Transformers demand

(Reuters) - Excluding the charge, earnings rose to $41.3 million, or 24 cents a share. Analysts on average were expecting 18 cents a share, according to Reuters Estimates.




Revenue climbed 31 percent to $691.4 million from $163.6 million due to strong sales of the Littlest Pet Shop, Nerf and Playskool toys. The analysts' average estimate was $647.76 million.


Read more at Reuters.com Business News

RPT-US STOCKS-Futures edge up; eyes on earnings, deals

(Reuters) - News pointing to deal-making could help cushion the market
as investors await another flurry of second-quarter earnings
reports.




United Rentals Inc , the world's largest equipment
rental company, said it had agreed to be bought by private
equity firm Cerberus Capital Management for $4 billion. For
details, see [ID:nWNAS6919]


Read more at Reuters.com Bonds News

Sasol eyes "significant income" from carbon credits

(Reuters) - Sasol, the world's biggest maker of fuel from coal, will earn "significant income" by selling carbon credits by converting a greenhouse gas into nitrogen and oxygen, the company said on Monday.

Sasol would be the first company globally to start such a project, based at two plants in South Africa, to convert nitrous oxide into harmless gases, it said in a statement.


Read more at Reuters Africa

UPDATE 1-Halliburton profit up, tops Street view

(Reuters) - Earnings from continuing operations climbed to $595
million, or 63 cents a diluted share, up from $498 million, or
47 cents a share, a year earlier.




Also included in second-quarter 2007 operating income was
an after-tax gain of 3 cents a diluted share from the sale of
an investment, Halliburton said.


Read more at Reuters.com Market News

Dollar Rebounds Against Euro, Yen as Technical Chart Shows Gains Too Fast

(Bloomberg) -- The dollar rebounded from a record
low against the euro as a technical chart some investors use to
predict currency movements suggested its decline was too rapid.

The U.S. currency also pared losses against the yen after
European stocks rose, prompting some traders to use funds
borrowed in Japan to buy higher yielding assets elsewhere, known
as the carry trade. The dollar has dropped against 15 of the 16
most-actively traded currencies in the past month on concern
subprime mortgage defaults in the U.S. will hurt the economy.


Read more at Bloomberg Currencies News

CVRD to resettle families off Mozambique coal mine

(Reuters) - Brazil's Companhia Vale do Rio Doce plans to spend $30 million to resettle 1,200 families occupying a mining site in Mozambique, clearing the way for development of the project, a newspaper reported on Monday.

"We have our teams working in the district of Inhangoma to demarcate the areas where the local population would be resettled in a process to be concluded before the end of the year," CVRD official Andre Vasconcelos was quoted as saying by Noticias, a daily newspaper in Mozambique.


Read more at Reuters Africa

Gold Falls in London as Dollar's Drop Against Euro Stalls; Silver Climbs

(Bloomberg) -- Gold fell in London as the dollar's
decline against the euro stalled, eroding the appeal of the
precious metal as an alternative investment. Silver advanced.

Before today, gold had climbed for three consecutive weeks
while the dollar fell against the euro for six weeks in a row.
Gold declined today and the euro weakened against the dollar,
both for the first time in a week.


Read more at Bloomberg Commodities News

UPDATE 1-JPMorgan says wins approval to incorporate in China

(Reuters) - SHANGHAI, July 23 - Wall Street bank JPMorgan
said on Monday it had won final approval to set up a
wholly owned unit in China to strengthen its wholesale banking
business in the world's fastest growing major economy.




This move will make JPMorgan the second U.S. bank to
incorporate in China, after Citigroup Inc. did so early
this year, while more than a dozen foreign banks queue to secure
regulatory approval for their China-incorporated units.


Read more at Reuters.com Government Filings News

FTSE gains as Barclays ups ABN bid, insurers buoy

(Reuters) - The FTSE 100 of Britain's leading shares edged higher on Monday as merger and acquisition activity boosted stocks at the start of a busy week for corporate earnings.

At 0806 GMT, the UK's main share index was up 9.9 points, or 0.2 percent at 6,595.1.


Read more at Reuters Africa

Japan Bonds Gain on Speculation Investors Sought Safety of Government Deb

(Bloomberg) -- Japan's bonds headed for the longest
winning streak since November on speculation a decline in
emerging-market debt and equities will prompt investors to seek
the relative safety of government securities.

The Japanese 10-year yield fell to the lowest in almost
three weeks as a drop in U.S. stocks extended to Asia. The yield
premium required to compensate buyers for the extra risk of
holding emerging-market debt compared with similar-maturity U.S.
Treasuries climbed to the highest since March, according to
JPMorgan Chase & Co.'s EMBI Plus index.


Read more at Bloomberg Bonds News

Asian Stocks Fall From a High; Honda, Japan Exporters Decline as Yen Gains

(Bloomberg) -- Asian stocks fell, led by Japanese
exporters, after the dollar declined to a six-week-low against
the yen amid concern the U.S. economy is slowing.

Honda Motor Co., which last year made the bulk of its sales
in North America, slid the most in six weeks. Sony Corp., the
world's biggest game-console maker, had its biggest slump in
almost a month.


Read more at Bloomberg Stocks News

FACTBOX-Key facts about China Development Bank

(Reuters) - Following are some key facts about China Development Bank:




-- The bank is mainly engaged in domestic infrastructure
investments, with the mission of "enhancing national strength
and improving people's lives".


Read more at Reuters.com Mergers News