Traders see April payrolls up 88,800 in auction

(Reuters) - The U.S. Labor Department will issue the April non-farm payroll report on Friday at 8:30 a.m. .

Investors use the auctions to hedge against surprises in the report, and traders also use the auctions to speculate on the outcome.


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Ahold needs to expand into non-food retail - CEO

(Reuters) - "We need to extend our offer into non-food, we are starting to work on it. We will continue to work on that strategy," CEO Moberg said when shareholders asked management about media reports on Ahold's interest in acquiring Dutch retailer Hema, which mainly offers non-food products and has been put up for sale.

Moberg did not provide specifics and also did not confirm or deny the reports.


Read more at Reuters.com Mergers News

U.K. Pound Advances on Speculation Bank of England to Lift Interest Rates

(Bloomberg) -- The pound gained, snapping a two-day decline against the dollar, on speculation the Bank of England will keep raising interest rates next week in order to curb above-target inflation.

The U.K. currency fell yesterday after a central bank report showed lenders granted the fewest loans for home purchases since April 2006, and today failed to trade above the psychological $2 mark for the first time since April 17 as investors await tomorrow's U.S. payrolls report for last month.


Read more at Bloomberg Currencies News

Yen under pressure as US data, Fed view underpin dollar

(Reuters) - The U.S. dollar was a shade firmer while the Japanese yen languished near lows on Thursday after firm U.S. manufacturing data reinforced the view that the dollar's relative yield advantage would remain for now.

The dollar was supported in part by a report the Federal Reserve was still more concerned about inflation than the risks to economic growth.


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Wall Street rallies on M&A, earnings; Dow at record

(Reuters) - U.S. stocks rallied on Wednesday, as robust profits and a flurry of buyout offers powered the Dow Jones industrials to a record high and the S&P 500 to its highest level in over six years.

Shares of manufacturing companies that sell their products abroad, such as appliance maker Whirlpool Corp. and lawn mower maker Toro Co., posted sharp gains after government data showed bigger-than-expected increases in U.S. factory orders.


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Standard Bank buys controlling stake in Grayprop

(Reuters) - Standard Bank, Africa's biggest bank by assets, has bought fund manager Allan Gray's controlling stake in property unit trust Grayprop, the property company said on Thursday.

Grayprop said the transaction was subject to regulatory approval. It gave no financial details but said a further announcement will be made in due course.


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Bidvest to spend $223 mln on acquisitions

(Reuters) - South African services group Bidvest has agreed to buy Asia-based Angliss Foodservice and local fleet management firm Viamax in two deals worth $223 million, the company said on Thursday.

Bidvest, South Africa's biggest company by revenue, said it had agreed in principle to acquire state-owned rail utility Transnet's fleet management and leasing business Viamax Holdings for 1 billion rand.


Read more at Reuters Africa