UPDATE 1-Insurer Beazley makes record H1 pretax profit

(Reuters) - Its profits were boosted by 25.2 million pounds released
from reserves that were no longer needed to pay claims, more
than double the amount it released from reserves during the
first half of 2006.




The company set an interim dividend of 2 pence per share, up
25 percent from the 1.6p level in the first half of 2006.


Read more at Reuters.com Market News

Tongaat-Hulett says H1 headline loss R155 mln

(Reuters) - South African sugar group Tongaat Hullet posted a first-half headline loss of 145.1 cents per share, the firm said on Monday.

The group, which said on July 27 it expected the headline loss, said profit from operations was 308 million rand compared to 307 million rand in the year-ago period.


Read more at Reuters Africa

South Korea Stocks Rise, Erasing Earlier Losses; Hynix Semiconductor Gains

(Bloomberg) -- South Korean stocks rose, snapping a
two-day fall that had wiped out $68 billion in market value.
Technology companies rose, led by Hynix Semiconductor Inc., after
Shinyoung Securities Co. lifted its price estimate on higher chip
prices.

Stocks also rose after a government report showed South
Korea's industrial production increased almost twice as much as
expected, reinforcing speculation economic growth will speed up.
Posco advanced.


Read more at Bloomberg Stocks News

MegaFon stake dispute may be near end - Vedomosti

(Reuters) - Vedomosti said representatives of Alfa and IPOC were nearing
an agreement under which both sides would withdraw their
claims against one another, an unidentified source close to
MegaFon told the paper.




Sources close to IPOC and Alfa confirmed the intention to
sign an agreement, but the paper said some details remained to
be worked out.


Read more at Reuters.com Mergers News

Newcastle Port Coal Price Rises on Speculation Japan Will Need More Fuel

(Bloomberg) -- The price of power-station coal at
Australia's Newcastle port rose for the first time in four weeks
on speculation Tokyo Electric Power Co. may need to buy the fuel
after shutting its nuclear reactor.

Coal for immediate delivery at the world's largest coal
export harbor, increased 51 cents to $66.81 a metric ton in the
week ended July 27 from the previous week, according to the
globalCOAL NEWC Index. Tokyo Electric said it will run its
thermal and hydro power plants above their design capacity and
buy power from other utilities after shutting the world's biggest
nuclear reactor after a July 16 earthquake.


Read more at Bloomberg Energy News

India's i-flex April-June net up 4.6 pct

(Reuters) - Standalone net profit in the quarter ended June was 582
million rupees.





Read more at Reuters.com Market News

Most U.S. mid-sized companies not hiring -survey

(Reuters) - The news adds to evidence the U.S. economy may not grow as
robustly next year as it did last quarter, when gross domestic
product grew at an annualized rate of 3.4 percent.




Not all companies are gloomy about employment -- 47
percent expect to hire, according to the survey from CIT and
the Economist Intelligence Unit. But 44 percent of mid-sized
companies see their workforce size staying the same, and 9
percent forecast a decline.


Read more at Reuters.com Economic News

Asian Currencies Weaken as Overseas Investors Shun Region's Riskier Assets

(Bloomberg) -- Asian currencies fell on speculation
global investors cut holdings in riskier assets as stock markets
across the region dropped.

The Indonesian rupiah declined to the weakest in almost five
months and the Malaysian ringgit and South Korean won slipped to
their lowest in July. Bank Indonesia said last week it isn't
worried by the currency's decline, while South Korea's central
bank said the won is set to drop as the current-account surplus
narrows.


Read more at Bloomberg Currencies News

Taiwan 10-Year Bonds Fall on Concern Higher Oil Prices Will Spur Inflation

(Bloomberg) -- Taiwan's government bonds declined
on speculation an increase in crude oil prices will spur
inflation. The currency was little changed.

Ten-year notes ended a three-day gain after oil rose to the
highest in nearly a year in New York last week as a government
report showed the U.S. economy, the world's biggest consumer,
grew faster than expected last quarter. Inflation erodes the
purchasing power of the fixed-income payments from debt.


Read more at Bloomberg Bonds News

Australian and New Zealand's Dollars Fall as Investors Cut Carry Trades

(Bloomberg) -- The Australian and New Zealand
dollars both fell to the weakest in a month against the U.S.
currency as a slide in stocks prompted investors to cut holdings
in higher-yielding securities.

The currencies were the worst performing today of the 16
most-traded as the Morgan Stanley Capital International Asia
Pacific Index fell 0.7 percent. A slump in corporate debt caused
investors to pare carry trades, in which they borrow cheaply in
yen and seek higher returns.


Read more at Bloomberg Currencies News

Yen Trades Near Three-Month High Versus Euro as Investors Cut Carry Trades

(Bloomberg) -- The yen traded near a three-month
high against the euro as a slump in global stocks caused traders
to repay Japanese currency loans used to fund higher-yielding
investments.

The Australian and New Zealand dollars, favorites of so-
called carry trades, dropped as corporate debt markets slumped
worldwide, increasing the cost of takeovers. The ruling
coalition of Japanese Prime Minister Shinzo Abe lost its upper
house majority yesterday, prompting Japanese stocks to decline.


Read more at Bloomberg Currencies News

Japan's Government Bonds May Rise on Concern Stocks to Decline on Election

(Bloomberg) -- Japan's bonds may advance for a
fourth day after the ruling coalition of Prime Minister Shinzo
Abe lost its upper house majority at elections, fueling
speculation that stocks will drop and spur demand for debt.

Benchmark bond yields, which move opposite to prices, are
also likely to extend their slide past an eight-week low after
the election results increased speculation the Bank of Japan
will hold off raising interest rates next month.


Read more at Bloomberg Bonds News

UK lawmakers urge tax, debt scrutiny in LBO review

(Reuters) - The House of Commons Treasury committee further recommended
in a report issued on Monday that tax authorities revisit rules
that enable private equity executives to pay a capital gains tax
rate of 10 percent or lower, but it stopped short of suggesting
any specific changes.




It also said buyout firms ought to be competing more
aggressively on the fees they charge investors, although rather
than putting forward a legislative remedy, it challenged
investors to negotiate harder.


Read more at Reuters.com Government Filings News

Union ratifies trash collection contract in Calif.

(Reuters) - The contract includes "strong wage and pension increases
and protection from future cost increases in health care," the
group said.







Read more at Reuters.com Bonds News

Russneft owners confirm sale talks with Deripaska

(Reuters) - "The owners of Russneft have transferred control in the
company to a number of investment structures, which were holding
talks with a number of contenders," president of bank BIN,
Mikhail Shishkhanov, said through a spokesman.




"We would be happy if Basel becomes the new owner," said
Shishkhanov, who is a business partner of Mikhail Gutseriyev,
the founder of Russneft and BIN.


Read more at Reuters.com Mergers News

UPDATE 9-Japan PM says to stay despite huge election defeat

(Reuters) - TOKYO, July 29 - Japanese Prime Minister Shinzo
Abe's conservative ruling camp suffered a devastating defeat in
upper house elections on Sunday, but the 52-year-old conservative
said he intended to stay in his post despite the drubbing.




"I am determined to carry out my promises although the
situation is severe," Abe said, after acknowledging that he was
responsible for the huge loss.


Read more at Reuters.com Bonds News