UPDATE 2-Australia's Ten H1 profit down on costs, ad market

(Reuters) - SYDNEY, March 28 - Ten Network Holdings Ltd. , Australia's third-biggest TV broadcaster, posted a 12 percent fall in first-half profit on higher costs and a subdued advertising market, but tipped an improved performance this year.

Ten, which has been put up for sale by majority shareholder Canada's CanWest Global Communications Corp. , said an Australian election later this year would boost ad spending and its TV profits should improve after winning back market share.


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Singapore's DBS in talks to bid for Korea's KEB: sources

(Reuters) - The Singapore bank, Southeast Asia's largest, is working to form a consortium with South Korean bank Nonghyup to buy KEB from U.S. buyout fund Lone Star , one of the sources familiar with the situation told Reuters.

KEB is controlled by U.S. buyout fund Lone Star and is one of the few remaining targets in South Korea's banking sector for foreign buyers seeking growth. But a legal battle over Lone Star's 2003 purchase of KEB has put a sale on hold.


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DoubleClick eyes sale, talks with Microsoft: report

(Reuters) - No one at DoubleClick was immediately available for comment.

The company is majority-owned by San Francisco private-equity firm Hellman & Friedman, which is seeking at least $2 billion for DoubleClick, one person briefed on the situation said in the Journal.


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Wal-Mart chief writes off New York: paper

(Reuters) - He said Wal-Mart executives have lobbied for a store in New York, but he remains unconvinced. "It's too hard to make money here," he said.

Later, Wal-Mart spokesperson Mona Williams sought to amend Scott's remarks, the Times said.


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HP sues Acer for patent breach

(Reuters) - "Acer has become a threat that leading PC vendors cannot afford to neglect," he said in a research note. "We understand why competitors would desire a halt to Acer's expansion in the U.S. market."

Shares in Acer, which is due to report earnings later on Wednesday, were down 2 percent to T$63.00 at 0425 GMT on Wednesday, underperforming the benchmark TAIEX index, which declined 0.92 percent, although MSCI's index of IT stocks, down 1.4 percent, indicated a broad sell-off in the sector.


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Rand steady as rumour denied

(Reuters) - South African rand steadied against the dollar on Wednesday after rumours that Iran fired at a U.S. naval vessel in the Gulf were denied.

The rand was trading at 7.2880 versus the dollar at 0755 GMT, little changed from a close of 7.2850 in New York on Tuesday. The rand weakened sharply overnight as the rumour spooked investors out of high-risk markets such as South Africa.


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Shanghai copper drops 1.2 pct after LME fall

(Reuters) - Shanghai copper futures fell 1.2 percent on Wednesday, but light consumer buying in Asia helped London Metal Exchange copper futures stabilise after sharp overnight losses triggered by weak U.S. data.

A falling consumer confidence index and a drop in U.S. new home sales for February to their lowest level since June 2000 pushed down LME copper futures on Tuesday. Three-month copper closed at $6,680 a tonne, but recovered to trade between $6,690 and $6,725 on Wednesday as Asian consumers bought.


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