China's Stock Index Gains, Rebounding From Loss of As Much As 7.5 Percent

(Bloomberg) -- China's CSI 300 Index rebounded from a
loss of as much as 7.5 percent. Citic Securities Co. gained after
the brokerage said it plans to sell shares valued at about $2.5
billion.

The benchmark CSI 300 Index gained 20.54, or 0.6 percent, to
3531.97 as of 2:26 p.m. local time. The increase stopped a slide
that's wiped out about $402 billion of market value. The fall was
sparked by the government's move to triple the tax on securities
trading on May 30.


Read more at Bloomberg Emerging Markets News

Tarantino, Coal-Mine Museum Fail to Save Japanese Town From Financial Ruin

(Bloomberg) -- Yubari, a former coal-mining town in
northern Japan, once attracted movie director Quentin Tarantino
to its annual film festival. Now it's more famous for going bust.

The community of 13,000 people accumulated debts of 63
billion yen ($523 million) partly to build hotels, a ski slope
and a coal-mining theme park after the last pit closed in 1990.
In March, the central government rescheduled Yubari's debts after
the city agreed to slash spending and sell assets.


Read more at Bloomberg Bonds News

Beiersdorf, Deutsche Telekom, Linde Shares May Move: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index rose 11, or 1.4 percent. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. The DAX fell
0.1 percent to 7976.79 on the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Asian Stocks Slip From a Record; Mitsubishi UFJ, Kookmin Bank Decline

(Bloomberg) -- Asian stocks fell, with the key
regional index dropping from a record, on concern recent gains
more than reflect earnings prospects. Mitsubishi UFJ Financial
Group Inc. and Kookmin Bank led lenders lower.

``Investors who are not yet confident about corporate
earnings momentum judged recent share prices offer less
incentive for further buying,'' said Naoki Fujiwara, who
oversees $720 million at Shinkin Asset Management Co. in Tokyo.


Read more at Bloomberg Stocks News

Japan's Nikkei 225 Climbs; Denso Leads Advances Among Auto-Related Shares

(Bloomberg) -- Japan's Nikkei 225 Stock Average rose,
led by automotive-related shares such as Denso Corp. as concern
eased a slowdown in the U.S. economy will drag on the companies'
profit growth.

Energy producers advanced after the price of crude oil
climbed above $66 a barrel in New York.


Read more at Bloomberg Stocks News

Uranium May Reach $200 a Pound on Supply Shortfall, Macquarie Bank Says

(Bloomberg) -- Uranium spot prices may reach $200 a
pound within the next two years, buoyed by a shortfall in supply
and increasing investment in the nuclear fuel by speculators,
Macquarie Bank Ltd. said.

The price reached $125 a pound in mid-May, a 12-fold
increase since early 2003, underpinned by a shortage, concerns
over future production and a lack of investment in new capacity,
Sydney-based Macquarie said in a June 1 report. Spot prices will
probably average $125 a pound this year, rising to $135 next year,
Australia's biggest securities firm said.


Read more at Bloomberg Energy News

Bestinver's Parames, Pitching Tips to Warren Buffett, Sours on Spain

(Bloomberg) -- Francisco Parames, Spain's best-
performing fund manager for the last five years, got a hand-
written note from Warren Buffett a few months ago seeking advice
on investing in Spain. He was thrilled to be asked, even though
he isn't enthusiastic about the country's economy.

Parames, who oversees 6 billion euros ($8 billion) at
Madrid-based Bestinver Asset Management, predicts a real-estate
crash in his homeland will spread, dragging down companies
dependent on the Spanish economy. Lending by banks and other
credit institutions has almost tripled since 2000.


Read more at Bloomberg Bonds News

JPMorgan Chase to update Aussie debt investors

(Reuters) - JPMorgan Chase Co. has recently established its first
Kangaroo bond programme, but has yet to issue from it.




Its senior credit is AA- by Standard & Poor's and Aa2 by
Moody's.



Read more at Reuters.com Bonds News

Japan's Government Bonds Little Changed Before Sale of 10-Year Securities

(Bloomberg) -- Japanese bonds were little changed
before the Ministry of Finance's sale of 10-year debt today.

The government set the highest coupon in seven months for
its 1.9 trillion yen ($15.6 billion) auction of the debt, in
line with a Bloomberg News survey of traders, analysts and
investors. U.S. Treasuries yesterday rose the most in three
weeks, narrowing the yield premium over Japanese debt, according
to Bloomberg data.


Read more at Bloomberg Bonds News

China's CSI 300 Index Extends Losses; Shanghai Port Leads Decliners

(Bloomberg) -- China's stocks extended a slide that's
wiped out at least $402 billion of market value over the past
four days after the government tripled the tax on securities
trade.

The benchmark CSI 300 Index, which tracks yuan-denominated A
shares listed on China's two exchanges, dropped 23.99, or 0.7
percent, to 3487.44 as of 9:42 a.m. local time, after gaining as
much as 0.52 percent.


Read more at Bloomberg Stocks News

Ex-Qwest CEO Nacchio putting $52 mln in escrow

(Reuters) - Money from illegal trading is subject to forfeiture under
law, prosecutors said, but the amount Nacchio will have to pay
has not been determined.




Nacchio, 57, was convicted in April of 19 counts of insider
trading for grossing more than $52 million based on information
unknown to investors. He was found not guilty on 23 additional
counts.


Read more at Reuters.com Bonds News

South Korea's Kospi Index Gains, Led by Samsung Electronics and SK Corp.

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.04 percent at 9:05 a.m.

The index of 733 companies traded on the Korea Exchange rose
0.64 to 1,738.23. Among the stocks in the index, 277 rose, 237
fell and 218 were unchanged.


Read more at Bloomberg Stocks News

Builders, Hynix Semiconductor, NH Investment: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the previous close. This preview
includes news announced after markets shut yesterday. Stock
symbols are in brackets after the company names.

The Kospi index gained 1.2 percent to a record 1737.59. The
Kosdaq added 0.4 percent to 745.49. Kospi 200 futures expiring in
June rose 1.2 percent to 221.60, while the underlying index
climbed 1.4 percent to 221.90.


Read more at Bloomberg Stocks News

New Zealand Dollar Gains to Six-Week High on Talk of Benchmark Rate Rise

(Bloomberg) -- New Zealand's dollar rose to a six-week
high amid speculation central bank Governor Alan Bollard could
raise interest rates this week, buoying demand from investors who
borrow at lower rates overseas.

New Zealand's currency has gained 8.5 percent the past three
months as the central bank increased borrowing costs in March and
April to a record 7.75 percent. There is a 31 percent chance of a
quarter-point rise in the benchmark rate at the June 7 review,
according to an index calculated by Credit Suisse.


Read more at Bloomberg Currencies News

Direct payments are unneeded US farm aid-reformers

(Reuters) - With corn prices at decade highs, direct payments have come
under criticism. Under various proposals, the $5 billion would
be spent on land stewardship, disaster aid, specialty crops or
public nutrition programs.




Congress created direct payments based on past production,
not the crops grown now, in 1996 when it removed most federal
control on plantings, so farmers could switch crops in pursuit
of profits.


Read more at Reuters.com Bonds News

Moody's, S&P may cut Flextronics on Selectron buy

(Reuters) - Flextronics, the No. 1 U.S. contract electronics maker,
said on Monday it will buy Solectron for $3.6 billion in cash
and stock to cut costs and expand its product line. For
details, see [ID:nN04445158]




"Flextronics' review for possible downgrade reflects the
potential for increased financial leverage to result if the
transaction closes as planned, Moody's said in a statement.
"Solectron's review for possible upgrade reflects the potential
increased scale and client diversity provided by the merger,"
the agency added.


Read more at Reuters.com Bonds News

Equifax sees 2007 adjusted EPS $2.25-2.33

(Reuters) - Depfa will also buy First Albany's municipal bond inventory, expected to be between $150 million and $200 million.



Under the deal, Depfa Bank will get the rights to the "First Albany" name and the investment bank will operate under a new name, it said in a statement.


Read more at Reuters.com Mergers News

OPEC Crude Oil Production Fell 0.5 Percent in May, Bloomberg Survey Shows

(Bloomberg) -- Crude-oil production in May by
members of the Organization of Petroleum Exporting Countries
fell 0.5 percent, led by declines in Nigeria and Iraq, a
Bloomberg News survey showed.

Output slipped 150,000 barrels to an average 30.01 million
barrels a day, according to the survey of oil companies,
producers and analysts. Production in April was revised to
30.155 million barrels a day from 30 million estimated last
month.


Read more at Bloomberg Energy News

U.S. Stocks Rise, Led by Energy Producers; XTO, Wal-Mart Shares Advance

(Bloomberg) -- U.S. stocks climbed after energy
shares gained on a surge in oil prices and analysts upgraded
Wal-Mart Stores Inc.

Wal-Mart had its best two-day gain since August 2002 after
four brokerages increased their ratings on the world's largest
retailer because of its plan to repurchase as much as $15
billion in stock. XTO Energy Inc. led oil-related shares in the
S&P 500 to a record after it and Loews Corp. agreed to buy
Dominion Resources Inc.'s properties for $6.5 billion.


Read more at Bloomberg Stocks News

Canadian Stocks Climb, Led by Bombardier; Energy Companies' Shares Advance

(Bloomberg) -- Canadian stocks rose, as Bombardier Inc.
shares rose on an order for aircraft and energy shares higher oil
and natural gas prices that lifted energy shares.

A measure of Canadian industrial shares rose to a record after
Bombardier, the world's third-largest maker of commercial aircraft,
got an order from Croatia Airlines for four airplanes valued at
$105 million. The shares jumped 44 cents, or 8 percent, to C$5.98.


Read more at Bloomberg Stocks News

UPDATE 1-Profit growth seen slowing, pressuring stocks

(Reuters) - NEW YORK, June 4 - Corporate earnings growth is
expected to slow further in the second and third quarters this
year, which combined with rising bond yields may provide
headwinds for U.S. stocks.




The effect on stocks would be particularly felt if the
yield on 10-year Treasuries pushes well past 5 percent, as it
did a year ago.


Read more at Reuters.com Bonds News

Most execs think they could outdo bosses: study

(Reuters) - Executives from 70 countries worldwide "representing a wide spectrum of industries and functional areas" participated in the poll, which took place in March of this year.




Sixty-five percent of those polled said they aspired to attain their boss' job.


Read more at Reuters.com Business News

Treasuries Rise Most in More Than Three Weeks After Global Stocks Decline

(Bloomberg) -- Treasuries gained the most in more
than three weeks as interest rates near their high for the year
and the safety of government debt attracted traders after China's
benchmark stock index fell 7.7 percent.

The 10-year note's yield, which moves inversely to its
price, reached a nine-month high June 1 of 4.96 percent. Equity
indexes in Europe also weakened while the Dow Jones Industrial
Average fell.


Read more at Bloomberg Bonds News

Companies seen warming to idea of health reform

(Reuters) - "In 2004, when John Kerry and George W Bush fought the
presidential election, I can't think of any business group that
called on either candidate to launch health reform," said Jason
Furman, director of the Hamilton Project, an initiative of the
Brookings Institution think tank. "This time, I think it will
be different."




The U.S. private sector has traditionally been seen as
opposing health reform as it could mean either higher taxes or
greater state involvement -- both anathema to business.


Read more at Reuters.com Government Filings News

Rite Aid completes Coutu deal after antitrust OK

(Reuters) - WASHINGTON, June 4 - Rite Aid Corp. said on Monday it had completed its acquisition of the Brooks and Eckerd drugstore chains in the United States after U.S. antitrust authorities said they had reached an agreement clearing the way for the deal. The acquisition of 1,854 Brooks and Eckerd stores from Jean Coutu Group Inc. was finalized shortly after the Federal Trade Commission announced the companies had alleviated antitrust concerns by agreeing to sell 23 pharmacies in markets around the United States.



"With a much larger Rite Aid, we're confident we will have substantial opportunities to reduce costs, improve operations and grow earnings per share, which will generate greater value for our shareholders." Rite Aid President and Chief Executive Mary Sammons said in a statement.


Read more at Reuters.com Government Filings News

Canadian Stocks Decline, Led by Royal Bank, as Yields Raise Profit Concern

(Bloomberg) -- Canadian stocks declined, led by
financial shares, after the country's two-year bond yield held near
the highest in five years, exceeding longer-term bond yields and
raising concern that bank profit margins will be squeezed.

``People have a knee-jerk reaction that when you get an
inverted-yield curve, banks are going to suffer,'' said Gavin
Graham, who helps oversee about $5.3 billion as chief investment
officer at Toronto-based Guardian Group of Funds.


Read more at Bloomberg Stocks News

BP Toledo Refinery Cat Cracker Returns to Service, Person Familiar Says

(Bloomberg) -- The fluid catalytic cracker at BP
Plc's refinery in Toledo, Ohio, returned to service June 1 after
being shut more than a month ago, said a person familiar with
the refinery's status who asked not to be named.

BP shut the unit, which is involved in gasoline production,
on April 21 after a loss of steam. The unit can process 60,000
barrels a day, according to data compiled by Bloomberg.


Read more at Bloomberg Energy News

Wheat Futures Climb as Rains Delay Harvest, Hurt Crops in Great Plains

(Bloomberg) -- Wheat prices rose in Chicago and
Kansas City after rainfall in the southern Great Plains hurt
plants and delayed the harvest.

As much as six times the normal amount of rain fell from
Texas to Nebraska in the past two weeks, National Weather
Service data showd. Oklahoma and Kansas growers, who would
normally start cutting wheat this week, may have to wait at
least 10 days, said Darrell Holaday, president of Advanced
Market Concepts in Manhattan, Kansas.


Read more at Bloomberg Commodities News

GSI Group buys Thales Optronics beryllium business

(Reuters) - The acquisition is expected to slightly add to GSI's 2007
net earnings, the maker of precision motion control components
said in a statement.





Read more at Reuters.com Mergers News

BHP Billiton resolves strike at its Samancor mine

(Reuters) - Mining group BHP Billiton on Monday announced that the strike over worker's transportation at its Samancor mines in South Africa has ended.

"Following Samancor Manganese's offer to explore alternative transport solutions, and a series of discussions between the National Union of Mineworkers and the Hotazel management, the strike at Hotazel manganese mines has been called off," Billiton said in a statement.


Read more at Reuters Africa

Genentech says breast cancer drug cuts recurrence risk by 52 pct

(Reuters) - In a statement, the company said adjuvant therapy is given
to women with early-stage breast cancer who have had initial
treatment.





Read more at Reuters.com Government Filings News

Syria to Abandon Its Peg to Dollar, Link Currency to IMF Drawing Rights

(Bloomberg) -- Syria will abandon its currency's peg
to the U.S. dollar and link it instead to International Monetary
Fund special drawing rights, according to the central bank.

The government must ratify the decision before the Syrian
pound can be linked to the drawing rights, said a spokesman who
declined to be named because of central bank rules. The value of
SDRs is determined against a basket of currencies including the
dollar, euro, yen and U.K. pound.


Read more at Bloomberg Currencies News

Murdoch aims to charm Dow Jones shareholders

(Reuters) - Attendees from the Bancroft clan include Christopher
Bancroft, Leslie Hill and Elizabeth Steele, who are Dow Jones
board members.




The family will be accompanied by Dow Jones Chairman Peter
McPherson, family trustee Michael Elefante and attorney Michael
Lipton, according to a Wall Street Journal report.


Read more at Reuters.com Mergers News

Krispy Kreme Q1 net loss widens on charges

(Reuters) - June 4 - Doughnut shop operator Krispy Kreme Doughnuts Inc. on Monday reported a wider first-quarter net loss, hurt by charges.



The company's net loss was $7.4 million, or 12 cents a share, in the latest quarter, compared with a net loss of $6.0 million, or 10 cents a share, in the year-ago period.


Read more at Reuters.com Market News

Dollar falls as investors favor high-yielders

(Reuters) - The euro jumped to a record high against the low-yielding yen and sterling, the Australian and New Zealand dollars to hit fresh multi-year peaks.




A tumble of more than 8 percent in China's benchmark equity index gave the yen brief respite earlier in the session. But unlike late February, when a sell-off on the Shanghai bourse sparked slides in global equity markets and liquidation of foreign exchange carry trades, Monday's gains in the yen were modest.


Read more at Reuters.com Hot Stocks News

Oil Is Little Changed Amid Signs U.S. Petroleum Stockpiles Are Adequate

(Bloomberg) -- Crude oil was little changed in New
York amid signs that U.S. supplies are sufficient for refiners
making gasoline for the peak-demand driving season.

Crude-oil inventories in the week ended May 25 were 7.2
percent higher than the five-year average for the period, the
Energy Department said last week. Gasoline use rises in the
summer, when Americans take to the highways for vacations. Crude-
oil prices jumped $1.07 on June 1 on signs gasoline supplies
won't rise fast enough to replenish stockpiles of the fuel.


Read more at Bloomberg Commodities News

Krispy Kreme Q1 net loss widens

(Reuters) - Revenue fell 7.1 percent to $110.9 million during the first
quarter, the company said in a statement.





Read more at Reuters.com Market News

Loews, XTO Will Buy Dominion's Onshore Oil, Gas Business for $6.5 Billion

(Bloomberg) -- Loew's Corp., the holding company
owned by New York's Tisch family, and XTO Energy Inc. agreed to
buy most of Dominion Resources Inc.'s onshore oil and gas
exploration business for about $6.5 billion.

The sale includes reserves equal to about 3.5 trillion
cubic feet of gas, Richmond, Virginia-based Dominion said in a
statement. Dominion, the second-largest U.S. utility owner, put
the exploration business up for sale in November to raise cash
for debt reduction and share buybacks.


Read more at Bloomberg Energy News

European 2008 Coal Price Climbs to Record; U.K. May Burn More Natural Gas

(Bloomberg) -- Coal for delivery in 2008 delivery in
northwest Europe rose to a record, making natural gas a more
profitable fuel for U.K. power generators over the summer.

Coal for delivery at Amsterdam, Rotterdam and Antwerp
climbed as much as $1, or 1.3 percent, to $77 a metric ton,
according to prices on Bloomberg from ICAP Plc. It traded at
$76.80 a ton as of 10:12 a.m. in London.


Read more at Bloomberg Energy News

Henry Schein to buy consumable-dental, corporate-dental ops

(Reuters) - Henry Schein estimates the two businesses to contribute
about $40 million to $45 million in revenue in the first full
year after the merger and slightly add to 2008 earnings.





Read more at Reuters.com Mergers News

U.S. recruitment firm Kelly Services taps China mkt

(Reuters) - It would not disclose how much it had paid for the Singapore
company but said the acquisition would enable it to do executive
search, middle-management placement and temporary and contract
staffing in China.




"We've got a number of multinational clients worldwide who
are finding it difficult to find talent in China and want to use
a recruitment company that has integrity," Dhiren Shantilal,
Kelly Services' senior vice president for the Asia-Pacific, said
by telephone.


Read more at Reuters.com Mergers News

UN Commodities Fund seeks to move into metals

(Reuters) - The Common Fund for Commodities, which has focused mainly on the agricultural sector, wants to broaden its focus into minerals as it seeks higher funding, its chief said on Monday.

The fund, an independent financing body which operates under the umbrella of the United Nations system, has only sponsored five projects in the minerals sector out of around 250 in its history, Managing Director Ali Mchumo told a mining conference in Namibia.


Read more at Reuters Africa

IMF sees no global contagion from China stock fall

(Reuters) - China's main stock index plunged a provisional 8.24 percent
on Monday after the government last week hiked the share trading
tax to cool feverish speculation.




Read more at Reuters.com Bonds News

Israeli Shahar Bonds Decline as Yield Advantage Over U.S. Debt Diminishes

(Bloomberg) -- Israel's benchmark Shahar bonds fell
as the yield gap against U.S. debt narrowed, making the country's
assets less attractive to investors.

The yield gap, or spread, between the 10-year U.S. benchmark
note and Israel's equivalent-maturity debt narrowed to 1 basis
point today, Bloomberg data show. U.S. Treasury yields have risen
on signs the world's largest economy is gathering pace, after a
report June 1 showed job creation rose faster than economists
expected.


Read more at Bloomberg Bonds News

South African Bonds Hold Near Six-Month Low on Speculation Rates Will Rise

(Bloomberg) -- South African bonds traded near their
lowest in six months on speculation the central bank will attempt
to contain inflation by raising interest rates this week.

The yield on the benchmark note due 2015 has risen 36 basis
points in the past four days as investors sold the bonds after a
report showed inflation above target. Foreign investors sold 4
billion rand ($559 million) more of the country's bonds than they
bought last week, adding to net sales of 4.4 billion rand in the
week through May 25.


Read more at Bloomberg Bonds News

Japan Shares Gain on Stronger-Than-Expected U.S. Growth; Kobe Steel Surges

(Bloomberg) -- Japanese shares advanced after
reports showed employment and manufacturing growth in the U.S.,
Japan's largest overseas market, expanded more than expected.

Toyota Motor Corp., the world's No. 1 carmaker by market
value, added 1.2 percent. Kobe Steel Ltd. jumped the most in
three months after the Nikkei newspaper reported the company is
expanding output of aluminum auto parts as demand increases.


Read more at Bloomberg Stocks News

U.K. Stocks Including Segro, Vodafone Advance; Shares of Tate & Lyle Fall

(Bloomberg) -- U.K. stocks including Segro Plc and
Vodafone Group Plc rose. Tate & Lyle Plc paced declining shares.

The benchmark FTSE 100 Index gained 3.5, or 0.1 percent, to
6680.2 in London. The FTSE All-Share Index was little changed at
3467.08. Ireland's ISEQ Index rose 108.58 to 9963.44.


Read more at Bloomberg Stocks News

U.K.'s FTSE 100 Index Retreats, Paced by BA, Imperial Tobacco; Segro Gains

(Bloomberg) -- U.K. stocks declined, paced by
British Airways Plc and Imperial Tobacco Plc. Segro Plc shares
advanced.

The benchmark FTSE 100 Index retreated 15.6, or 0.2
percent, to 6,661.1 at 8:06 a.m. in London. The FTSE All-Share
Index lost 8.51, or 0.3 percent, to 3,458.01. Ireland's ISEQ
Index jumped 108.58, or 1.1 percent, to 9,963.44.


Read more at Bloomberg Stocks News