Copper Falls in Asia on Speculation China Rates May Rise; Zinc Unchanged

(Bloomberg) -- Copper prices fell in Asia on
speculation that China will raise interest rates to cool economic
growth, curbing demand and fueling concern that the world's
biggest user of the metal may be oversupplied.

Inflation in China accelerated at the fastest pace in more
than two years in May, the National Bureau of Statistics said
yesterday, increasing the likelihood the central bank will raise
rates for a third time this year.


Read more at Bloomberg Commodities News

S.Africa's Telkom FY headline EPS down 1 pct

(Reuters) - Africa's biggest telecoms company, Telkom, posted a one percent decline in annual headline earnings per share on Wednesday.

South Africa's fixed-line operator said headline EPS fell to 1,710.7 cents in the year to end March, below analysts' expectations.


Read more at Reuters Africa

Yuan Rises to Highest Since End of Peg in 2005; Paulson Urges Flexibility

(Bloomberg) -- The yuan rose to the strongest since
2005 on speculation China will allow faster gains to help ease
trade tensions with the U.S., after Treasury Secretary Henry
Paulson urged increased currency flexibility.

Some U.S. senators plan to introduce legislation in Congress
today to push China to let the yuan rise quicker to reduce its
record trade surplus. Paulson suggested yesterday that China
isn't moving fast enough on the exchange rate, a day before a
Treasury report on whether countries manipulate their currency.


Read more at Bloomberg Currencies News

China's Soaring Pork Prices Boost Inflation, Farmer's Incomes, Consumption

(Bloomberg) -- The soaring pork prices that pushed
China's inflation rate to the highest in more than two years
aren't all bad news: Farmers' incomes are getting a boost and that
may increase consumer spending and lower dependence on exports.

Meat prices surged 26.5 percent in May from a year earlier
because of a pig shortage linked to increased grain prices.
Premier Wen Jiabao has pledged incentives to farmers to boost the
supply of pork, a staple food for the nation of 1.3 billion people,
in the Year of the Pig.


Read more at Bloomberg Emerging Markets News

Heidelberger Druckmaschinen, Deutsche Telekom, Patrizia: German Preview

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

Germany's X-DAX Index fell 1 percent. The index provides an
estimate of the DAX Index, based on trading in DAX futures after
the Xetra electronic market closes. The DAX declined 0.4 percent
to 7678.26 on the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Nymex Natural Gas Rises on Forecasts for Warmer Weather in U.S. Midwest

(Bloomberg) -- Natural gas in New York rose for the
first time in three trading sessions as warmer weather,
especially in the Midwest, may spark increased electricity demand
from natural-gas-fired generators to run air conditioners.

Temperatures in Chicago, the third-most populous city in the
country, are forecast to advance from today's high of 84 degrees
to 89 by June 15, according to AccuWeather.com. The typical high
for this time of year is 81 degrees, the forecaster said.


Read more at Bloomberg Energy News

Intel Informs Customers It Will Slash Chip Prices by 50 Percent Next Month

(Bloomberg) -- Intel Corp., the world's largest
chipmaker, plans to slash the price of some processors over the
next three months to regain market share from Advanced Micro
Devices Inc.

The company will cut prices of its Core 2 Quad processor by
50 percent on July 22, according to an Intel document given to
clients. The chips, introduced in November to run servers and the
most expensive personal computers, sell for $530 each, according
to Santa Clara, California-based Intel's Web site.


Read more at Bloomberg Exclusive News

U.S. Treasuries Rebound; Investors Say Yield at Five-Year High Attractive

(Bloomberg) -- U.S. Treasuries rose as some Asian
investors said benchmark yields at a five-year high are
attractive given the outlook for inflation.

``We don't have any concern about inflation risk,'' said
Masataka Horii, one of the managers for the $46 billion Kokusai
Global Sovereign Open fund in Tokyo. The fund, which has about
24 percent of its portfolio invested in Treasuries, bought some
U.S. notes in the past month, he said.


Read more at Bloomberg Bonds News

Lehman Profit Increases 27 Percent, Led by Stock Trading, Higher M&A Fees

(Bloomberg) -- Lehman Brothers Holdings Inc., the
first of Wall Street's biggest firms to report second-quarter
earnings, said profit rose 27 percent as a rally in stocks fueled
equity trading and investment-banking revenue increased.

Net income climbed to $1.27 billion, or $2.21 a share, in
the three months ended May 31, from $1 billion, or $1.69, a year
earlier, the New York-based company said today in a statement.
Earnings exceeded the highest estimate of 16 analysts surveyed by
Bloomberg.


Read more at Bloomberg Stocks News

EU court backs Anheuser on Bud non-beer trademark

(Reuters) - "The court finds that the appellations of origin relied on by Budejovicky Budvar are protected ... only for beer and similar products," the Court of First Instance, the EU's second-highest court, said.




Budvar said the court ruling would have no impact on its business.


Read more at Reuters.com Government Filings News

EDF Reports Nuclear Safety Incident at Nogent Reactor in Northern France

(Bloomberg) -- Electricite de France SA, Europe's
biggest power generator, reported a safety incident at unit 2 of
its Nogent nuclear power plant.

The June 8 event involved unauthorized repairs to a
circuit-breaker in the non-nuclear part of the reactor, Paris-
based EDF said in a statement today.


Read more at Bloomberg Energy News

U.K. Pound Advances on View Further Rate Increases May Spur Carry Trade

(Bloomberg) -- The pound rose versus the dollar after
Bank of England Governor Mervyn King signaled he may raise
interest rates again, prompting speculation the currency will
continue to benefit from so-called carry trades.

The U.K. currency climbed for the first day in five, rallying
from its lowest in two months, after King said late yesterday the
BOE ``may need to take further action'' to contain inflation. The
bank has raised rates four times since August to a six-year high,
improving the allure of U.K. assets.


Read more at Bloomberg Currencies News

Hilton Hotels enters into deal with LVMH for spa services

(Reuters) - The initial project will be at the Waldorf-Astoria in New
York City.





Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Decline; Texas Instrument Retreats in Europe

(Bloomberg) -- U.S. stock-index futures fell after
Texas Instruments Inc., the world's biggest maker of mobile-phone
chips, said second-quarter sales and profit will be below its
highest estimates.

Texas Instruments declined in Germany. Shares of Lehman
Brothers Holdings Inc., which didn't trade in Europe, may move
before an earnings statement from the first of Wall Street's
biggest firms to report.


Read more at Bloomberg Stocks News

Malaysian Government Bonds Gain as Yields Lure Buyers; Ringgit Strengthens

(Bloomberg) -- Malaysia's bonds rose on speculation
yields at the highest in four months will attract investors. The
ringgit had the biggest gain since December.

Government bond yields have risen about two-thirds of a
percentage point in the past three weeks as expectations for
lower borrowing costs waned. The ringgit rose for a second day,
recouping part of 2.4 percent loss last week that was the most
since Bank Negara Malaysia scrapped a dollar peg in July 2005.


Read more at Bloomberg Bonds News

Copper Falls in London on China Interest-Rate Speculation; Nickel Drops

(Bloomberg) -- Copper fell in London on speculation
that interest rates in China and the U.S. will increase, curbing
demand in the world's largest users of the metal. Nickel and
zinc also dropped.

China's inflation accelerated at the fastest pace in more
than two years in May, the National Bureau of Statistics said
today, increasing the likelihood the central bank will raise
rates for a third time this year. U.S. monetary policy makers
will next decide on interest rates on June 28. Higher borrowing
costs usually slow investments.


Read more at Bloomberg Commodities News

French Stocks Decline, Led by Sanofi-Aventis, Veolia Environnement, Total

(Bloomberg) -- French stocks declined, led by
Sanofi-Aventis SA and Veolia Environnement SA.

Total SA fell as the price of crude oil dropped.


Read more at Bloomberg Stocks News

IEA raises world oil demand forecast, ups pressure on OPEC

(Reuters) - World oil demand will rise more quickly than previously thought this year, the International Energy Agency said on Tuesday, adding weight to consumer nations' calls for more OPEC oil.

In its June monthly report, the adviser to 26 industrialised countries lifted its forecast for 2007 growth in world oil demand to 1.7 million barrels per day (bpd) or two percent, up 200,000 bpd from the previous forecast.


Read more at Reuters Africa

Hynix picks banks for $500 million bond-source

(Reuters) - Fitch Ratings on Tuesday assigned a "BB" rating to Hynix's
proposed $500 million senior unsecured note offering due 2017.




The deal's roadshow will kick off in Hong Kong and Los
Angeles on June 15 and move to Singapore and Boston on June 18,
followed by London and New York on June 19, the source said.


Read more at Reuters.com Bonds News

JGB futures dip on rate concern, fair auction helps

(Reuters) - The yield on two-year notes, the most sensitive to changes in
the monetary policy outlook, struck a decade high as nervous
investors shunned bonds with shorter maturities ahead of a
two-day BOJ policy meeting that ends on Friday.




Bond investors said ongoing weakness in Treasuries which
pushed U.S. 10-year yields near 5-year highs was also depressing
sentiment.


Read more at Reuters.com Bonds News