Australian Mining Shares Climb, Led by BHP; Commander Communications Falls

(Bloomberg) -- Australian mining shares rose, led by
BHP Billiton Ltd. and Woodside Petroleum Ltd. after prices of
commodities such as copper and oil climbed.

``Commodity demand remains overwhelming relative to supply,
so there looks like there could be more upside for mining
companies' shares,'' said Atul Lele, who helps manage about $380
million at White Funds Management in Sydney.


Read more at Bloomberg Stocks News

Kravis Outspends Blackstone in Buyouts, Instilling Profit-or-Perish Creed

(Bloomberg) -- It's a great time to be Henry
Kravis, as he's quick to remind people.

In April, the buyout mogul is standing in a ballroom of the
Waldorf-Astoria hotel in New York, telling AIDS researcher Dr.
David Ho, architect Maya Lin and Yahoo! Inc. co-founder Jerry
Yang that the private equity industry he helped invent is hotter
than ever.


Read more at Bloomberg Bonds News

American Home, Apollo, Black Box, Robbins & Myers: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

American Home Mortgage Investment Corp. (AHM US) declined
$1.83, or 8.8 percent, to $19.08 in after-hours trading
yesterday. The lender specializing in adjustable-rate mortgages
withdrew its fiscal 2007 earnings guidance and said it will
likely have a second-quarter loss.


Read more at Bloomberg Stocks News

Copper Rises for a Second Day on Concern Labor Disputes Will Curb Supplies

(Bloomberg) -- Copper prices in Asia rose for a
second day as labor disputes at mines in South America,
including a strike by contract workers at the world's largest
producer Codelco, raised concerns that supply may be disrupted.

Protesters stormed a processing plant yesterday at
Codelco's Radomiro Tomic mine in northern Chile, according to
the company's press office. The site produces 18 percent of
Codelco's output, said Luis Galvez, a union director.


Read more at Bloomberg Commodities News

Asia stocks firm, Nikkei stars as yen softens

(Reuters) - Crude oil futures were a touch firmer in early Asian trade after U.S. oil topped $70 a barrel for the first time in nearly 10 months the previous session, while gold was steady above $647 an ounce, helped in part by firmer oil prices.




South Korean stocks edged higher, but Australian shares drifted on profit-taking in big banks, offsetting gains in resource firms. Hong Kong's Hang Seng was off 0.2 percent.


Read more at Reuters.com Hot Stocks News

China Eases Capital Limits, Gives Hong Kong Companies More Market Access

(Bloomberg) -- China's government eased capital
requirements for Hong Kong-based companies, giving them access to
11 new industries on the mainland.

China's Vice Minister of Commerce Liao Xiaoqi met Hong Kong
Chief Executive Donald Tsang and Financial Secretary Henry Tang
to sign the accord at the city's government headquarters today.
Chinese Commerce Minister Bo Xilai was also present.


Read more at Bloomberg Emerging Markets News

JGBs rises after few data surprises, eye on tankan

(Reuters) - JGBs edged higher after core Tokyo prices, which exclude
fresh food prices, unexpectedly fell 0.1 percent in June from a
year ago, while nationwide CPI slipped 0.1 percent in May, in
line with forecasts.




"The fall in Tokyo consumer price data was surprisingly soft,
and that may be supporting JGBs," said Katsutoshi Inadome,
strategist at Mitsubishi UFJ Securities. "But players are also
cautious ahead of the tankan survey."


Read more at Reuters.com Bonds News

Japanese Stocks Climb; Toshiba Leads Gains on Growth Outlook, Weaker Yen

(Bloomberg) -- Japanese stocks climbed, paced by
electronics makers on expectations earnings will rise after
brokerages at home and in the U.S. issued reports touting their
growth potential and the yen weakened for a second day.

Toshiba Corp., the world's second-biggest maker of flash
memory chips, and Mitsubishi Electric Corp., which makes
everything from televisions to semiconductor production
equipment, led gains after Credit Suisse Group boosted its
recommendation on both companies to ``outperform.''


Read more at Bloomberg Stocks News

Japan manufacturers' PMI falls to 4-yr low in June

(Reuters) - The NTC Research/Nomura/JMMA Purchasing Managers Index, which
gives an early snapshot of the health of manufacturing, slipped
to a seasonally adjusted 50.4 in June, the weakest level in four
years, from 51.4 in May.




A reading above 50 suggests expansion, while a figure below
that level points to a contraction.


Read more at Reuters.com Economic News

India, Indonesia, Malaysia, Sri Lanka, Thailand: Asian Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence Asian local-currency bonds today. Yields
are from the previous session.

China: Investments by Chinese insurers in stocks and debt
soared 53 percent in the first five months of 2007 from a year
earlier to 1.5 trillion yuan ($197 billion), according to a
statement published on the China Insurance Regulatory
Commission's Web site on June 27. The central bank yesterday
sold 1 billion yuan of three-year bills at a yield of 3.49
percent yield, the same as the previous auction a week earlier.


Read more at Bloomberg Bonds News

US FCC to examine phone traffic-pumping complaints

(Reuters) - The Federal Communications Commission said it would
investigate the access fees, known as tariffs, that the 39
rural phone companies are charging the long distance carriers
for connecting calls in their areas.




The agency said it would also look into accusations that
the rural carriers have been using free-calling promotions to
artificially pump up traffic in those areas and increase fees.


Read more at Reuters.com Government Filings News

UPDATE 1-Christopher & Banks Q1 profit falls; shares down

(Reuters) - The company also forecast second quarter and full year
earnings below Wall Street estimates.




Shares of the company fell over 10 percent in late
electronic trade to $16.00 after closing at $17.81 Thursday on
the New York Stock Exchange.


Read more at Reuters.com Market News

FACTBOX - CDOs: ABS and other sundry collateral

(Reuters) - While there are many kinds of debt used as collateral, the
surge in subprime bonds as a percentage of total ABS has led to
their domination in many CDOs. Investors watching the prolonged
U.S. housing slump cause rising delinquencies and losses on the
ABS expect CDO values and ratings will soon be affected.




Losses at two Bear Stearns Cos. hedge funds after
bad bets on subprime came to a head in June as bank creditors
tried to extricate their investments in the fund. Most of the
funds' CDO assets put up for sale never found buyers at prices
acceptable to the banks, fueling speculation that ABS CDOs
would suffer widespread markdowns, sources said.


Read more at Reuters.com Bonds News

GateHouse sells W. Virginia newspaper for $77 mln

(Reuters) - The West Virginia daily newspaper has a daily circulation of about 28,000 and a Sunday circulation of about 33,000, Champion said. The transaction is expected to close during the fourth quarter, Champion said. The company plans to finance the acquisition with debt.



Champion closed up 7 cents, or 1 percent, to $7.15 on the Nasdaq stock market. GateHouse fell 53 cents, or 2.8 percent, to close at $18.57 on the New York Stock Exchange.


Read more at Reuters.com Bonds News

Avigen files with SEC for $200 mln debt, stock shelf

(Reuters) - Under a shelf registration, a company may sell securities
in one or more separate offerings with the size, price and
terms to be determined at the time of sale.




Read more at Reuters.com Government Filings News

Brazilian Real Gains Most in Five Weeks on Central Bank's Growth Forecast

(Bloomberg) -- Brazil's currency advanced the most
in more than five weeks after the central bank raised its
economic growth forecast for the year.

The economy will grow 4.7 percent this year, up from the
previous estimate of 4.1 percent, according to the central
bank's quarterly report on inflation released on its Web site
today.


Read more at Bloomberg Currencies News

UPDATE 2-IMF's Rato to step down in October

(Reuters) - WASHINGTON, June 28 - International Monetary Fund
Managing Director Rodrigo Rato, in a surprise announcement,
said on Thursday he would step down in October for personal
reasons, cutting short his five-year term.




Rato, who took office in June 7, 2004, said he would depart
after the IMF's fall meetings in October.


Read more at Reuters.com Bonds News

U.S. Stocks Advance After Fed Says Economy to Keep Growing; Monsanto Gains

(Bloomberg) -- U.S. stocks gained for a second day
after the Federal Reserve said the economy will probably keep
growing and analysts upgraded Intel Corp. and Cisco Systems
Inc.

Monsanto Co., the world's biggest seed producer, rose
after earnings beat analyst estimates. General Motors Corp.,
the largest U.S. automaker, climbed after selling a unit that
makes transmissions.


Read more at Bloomberg Stocks News

UPDATE 1-Texas again rejects Cintra for big road project

(Reuters) - Cintra in February was preliminarily awarded the deal to
overhaul State Highway 121, but critics said the deal's terms
overly favored the developer.




Texas legislators responded by asking the local authority
to submit a competing bid. The lawmakers also enacted new curbs
on these privatizations, which let developers lease highways
for long periods in return for the toll revenue.


Read more at Reuters.com Bonds News

Mexico May Be Closing In on Higher Debt Rating, S&P Director Mukherji Says

(Bloomberg) -- Mexico's chances of a credit rating
increase are improving as President Felipe Calderon moves toward
garnering congressional approval for legislation that would boost
tax collection, said Joydeep Mukherji, a sovereign ratings
director at Standard and Poor's.

The government last week sent legislators a proposal to
boost annual tax revenue by the equivalent of 3 percent of gross
domestic product in an effort to ease Mexico's dependence on oil
export income and keep the budget deficit in check.


Read more at Bloomberg Bonds News

UPDATE 1-Taser, iRobot to develop new law enforcement robots

(Reuters) - Taser's electronic control device technology has been
integrated into iRobot's PackBot Explorer as part of the
alliance, Taser said in a statement.




Details of the terms were not disclosed.


Read more at Reuters.com Mergers News

US STOCKS-Indexes up a bit as investors await Fed's rate move

(Reuters) - NEW YORK, June 28 - U.S. stocks advanced
slightly on Thursday, although investors remained cautious as
they awaited the Federal Reserve's statement for clues on the
interest-rate outlook.




The Dow industrials drifted lower after data showed a
measure of inflation monitored by the Fed was higher than
previously thought in the first three months of 2007.


Read more at Reuters.com Bonds News

Platinum Futures Rise on Concern of South African Strike; Palladium Gains

(Bloomberg) -- Platinum rose in New York on concern
workers at Johannesburg-based Impala Platinum Holdings Ltd., the
world's second-largest producer of the metal, may strike after
rejecting an increased pay offer. Palladium also gained.

South Africa's National Union of Mineworkers said an Impala
pay offer yesterday was insufficient. Workers want an average
15 percent increase, while the company is offering 7.5 percent to
9 percent pay raises, the union said. Impala ``is not making
substantive moves,'' said Eddie Majadibodu, a union negotiator.


Read more at Bloomberg Commodities News

Nymex Gas Plunges After Report of Larger-Than-Expected U.S. Inventory Gain

(Bloomberg) -- Natural gas in New York plunged after
a weekly government stockpile report showed inventories rose more
than normal for this time of year, exceeding analyst
expectations.

Gas in storage rose 99 billion cubic feet for the week ended
June 22, the Energy Department said today. Inventories were
expected to rise by 83 billion cubic feet last week, according to
the median of 23 responses in a Bloomberg survey of analysts. The
average increase over the past five years for the week is 92
billion, according to the department.


Read more at Bloomberg Energy News

UPDATE 1-IMF chief Rato to step down in October

(Reuters) - Rato, who took office in June 7, 2004, said he would depart
after the IMF's fall meetings in October.




"I have taken this decision for personal reasons," Rato
said in a statement, shortly after informing the board.


Read more at Reuters.com Bonds News

J&J unit gets EU okay for schizophrenia drug

(Reuters) - LIQUIDITY SERVICES INC.



Latest Forecast* No. of Yr ago


Read more at Reuters.com Government Filings News

S.African tribunal blocks Telkom, BCX deal

(Reuters) - South Africa's Competition Tribunal has prohibited the acquisition of IT outsourcing firm Business Connexion Group (BCX) by fixed-line group Telkom, the regulator said on Thursday.

Telkom planned to acquire the IT firm for 2.43 billion rand and first announced the transaction in March 2006, but ran into opposition from competition bodies and competitors.


Read more at Reuters Africa

Court rejects race as factor in school programs

(Reuters) - By a 5-4 vote on the last day of its term, the court's conservative majority struck down voluntary programs adopted in Seattle and Louisville, Kentucky, to attain racial diversity in public school classrooms.




The ruling added to a string of decisions this term in which President George W. Bush's two appointees -- Chief Justice John Roberts and Justice Samuel Alito -- have shifted the court sharply to the right on divisive social issues like abortion.


Read more at Reuters.com Bonds News

EU mergers and takeovers (June 28)

(Reuters) - APPROVALS AND WITHDRAWALS:




-- Porsche acquires Volkswagen of
Germany


Read more at Reuters.com Mergers News

US STOCKS-Blue chips slip at open on inflation data

(Reuters) - The Nasdaq was higher. Chip maker Intel Corp.
received a brokerage upgrade.




The Dow Jones industrial average was down 19.03
points, or 0.14 percent, at 13,408.70. The Standard & Poor's
500 Index was down 0.99 points, or 0.07 percent, at
1,505.35. The Nasdaq Composite Index was up 0.09 points
at 2,605.44.


Read more at Reuters.com Bonds News

US blue chips slip at open on inflation data

(Reuters) - U.S. blue-chip stocks opened down slightly on Thursday after government data showed first-quarter core personal consumption spending, an inflation gauge favored by the Federal Reserve, was revised higher.

The Nasdaq was higher. Chip maker Intel Corp. received a brokerage upgrade.


Read more at Reuters Africa

UAW May Hire Lazard for Health-Care Advice in U.S. Auto Talks, People Say

(Bloomberg) -- The United Auto Workers may hire
investment bank Lazard Ltd. to advise the union on health-care
concessions in contract talks with U.S. automakers, two people
with knowledge of the matter said.

The union told New York-based Lazard to be ready to assist
in negotiations that begin next month with General Motors Corp.,
Ford Motor Co. and DaimlerChrysler AG's Chrysler, said the
people, who asked not to be named because the plans are private.


Read more at Bloomberg Exclusive News

Norway's Krone Gains to 10-Month High Versus Euro on Interest Rate Outlook

(Bloomberg) -- Norway's krone rose to a 10-month
high versus the euro after the central bank raised interest rates
yesterday and indicated there are further increases to come.

The krone is the second best performer versus the dollar in
the past five days of the 16 major currencies monitored by
Bloomberg, as investors buy it to take advantage of Norway's
relatively high interest rate in the so-called carry trade.
Norges Bank yesterday lifted borrowing costs to 4.5 percent and
said it would increase them to 5.75 percent by the mid-2008.


Read more at Bloomberg Currencies News

Cell C says ends buyout talks

(Reuters) - Shareholders in South Africa's Cell C have decided not to proceed with the sale of the company, the mobile phone group said on Thursday.

"The shareholders have taken the decision not to proceed with the sale of Cell C and to stop discussions with unsolicited parties about the sale of Cell C," Chief Executive Officer Jeffrey Hedberg said.


Read more at Reuters Africa

UPDATE 1-Dominion to buy back 55 mln common shares

(Reuters) - Dominion expects to start a modified Dutch auction
self-tender by mid-July. Shareholders could tender some or all
of their shares at prices from $82 to $92 per share, said the
Richmond, Virginia-based company. The company then will pick a
price and buy shares tendered at that level or below.




The share buyback program is part of the power company's
plan to use the proceeds from the sales of most of its oil and
natural gas exploration and production assets.


Read more at Reuters.com Bonds News

Apple IPhone Buzz Takes On `Life of Its Own,' Topping Mustang, Windows 95

(Bloomberg) -- Apple Inc.'s campaign to build
excitement about its iPhone may be the most successful marketing
effort ever, surpassing the drive to promote Ford Motor Co.'s
1964 Mustang and Microsoft Corp.'s Windows 95.

The combination mobile phone and music player has generated
more pre-sale media coverage than any other product, says Al
Ries, chairman of Ries & Ries, an Atlanta marketing strategy
firm. Michael Gartenberg, an analyst at JupiterResearch in New
York, estimates Apple will spend about $100 million on the
introduction, roughly half what Microsoft spent for Windows 95.


Read more at Bloomberg Exclusive News

Momenta sees longer US review for generic Lovenox

(Reuters) - In a new filing, the company said the review will "likely
extend" beyond its prior view "due to a change in the projected
timing of certain activities required for the completion of the
FDA's review."




Momenta declined to provide a new projection for the timing
but said it believes the FDA review "continues to progress
satisfactorily."



Read more at Reuters.com Government Filings News

Migrant workers missing out in S.Africa platinum boom

(Reuters) - South Africa's platinum boom has given rise to mushrooming informal settlements by migrant labourers around mines, posing serious health, social and environmental risks to communities, a report said.

The world's two biggest platinum producers, Angloplat and Implats, have announced multi-billion dollar expansion plans, but a report by the church-sponsored Bench Marks Foundation this week said many miners, especially contract workers, are falling through the cracks.


Read more at Reuters Africa

Michigan County Sells Bonds for Retiree Benefits, Leading Muni Borrowers

(Bloomberg) -- Michigan's Oakland County, a New
York state agency and Nevada will sell a combined $1.3 billion
of bonds in today's largest sales of U.S. municipal debt.

Oakland County will offer $570 million of 20-year taxable
bonds to raise money to help cover future payments of benefits
for retired workers. The New York State Dormitory Authority will
borrow $438.8 million for a variety of capital projects at
schools in the state. Nevada will sell almost $300 million for
capital projects.


Read more at Bloomberg Bonds News

South African Unions End National Strike, Accept State's 7.5 Percent Offer

(Bloomberg) -- South African labor unions halted the
country's longest-ever strike by state employees after the
majority of them accepted the government's offer of an average 7.5
percent pay increase.

The strike, which began June 1, shut most schools and
disrupted services at some hospitals, clinics and immigration
offices. Support for the action waned as the government ceased
paying employees who failed to report for work.


Read more at Bloomberg Emerging Markets News

Sanlam Says Assets to Increase by 23 Percent This Year to $70.3 Billion

(Bloomberg) -- Sanlam Ltd., the second-biggest South
African life insurer, expects assets under management to jump 23
percent this year to 500 billion rand ($70.3 billion), helped by
rising equity markets and new business sales.

The company, based in Cape Town, has already ``passed the
450 billion-rand mark,'' and had 406 billion rand of assets as of
Dec. 31, Chief Executive Officer Johan van Zyl said today at a
conference in Johannesburg.


Read more at Bloomberg Emerging Markets News

Oil Little Changed, Near Nine-Month High, as U.S. Gasoline Supply Plunges

(Bloomberg) -- Crude oil traded little changed in New
York, near a nine-month high, on concern the U.S. won't have enough
gasoline to meet the summer's peak demand.

A report yesterday showed gasoline stockpiles fell 749,000
barrels last week after imports plunged to a 10-week low. The
decline left gasoline levels 4.4 percent below their five-year
average. Daily demand remained near the nine-month high reported
the week before.


Read more at Bloomberg Energy News

Yen snaps winning streak as risk appetite returns

(Reuters) - The dollar steadied versus the euro, with markets awaiting the outcome of a two-day Federal Reserve meeting later in the session. The bank is seen holding rates at 5.25 percent and its statement will be scrutinized for clues on future policy.




Softer U.S. data this week had shifted investor sentiment back towards the next Fed move being a cut rather than a hike, although most see rates on hold for the rest of the year.


Read more at Reuters.com Hot Stocks News

European Stocks Rise, Led by Energy, Mining Shares; BP, BHP, Nestle Gain

(Bloomberg) -- European stocks rose for the first time
in six days as higher commodity prices lifted energy and mining
companies and Citigroup Inc. said shares in the region are cheap.

BP Plc, Europe's second-biggest oil producer, and BHP
Billiton Ltd., the world's largest mining company, advanced.
Nestle SA increased after Deutsche Bank AG recommended buying
stock in the food company. Groupe Danone rose on a report the
yogurt maker will likely sell its LU cookies division.


Read more at Bloomberg Stocks News

U.S. Stocks Rise, Led by Energy Shares; Oil Rises, Dollar Falls

(Bloomberg) -- The U.S. stock market posted its
first advance in four days after a rally in oil prices improved
earnings prospects for fuel producers and better-than-expected
profit at Oracle Corp. ignited shares of software makers.

Exxon Mobil Corp., Intel Corp. and Microsoft Corp. helped
carry the Standard & Poor's 500 Index to its biggest gain in two
weeks. Oracle, the world's third-largest software company,
jumped the most in three months after saying sales may grow 21
percent.


Read more at Bloomberg Stocks News

France's CAC 40 Index Advances, Led by Danone, Michelin, Axa Shares

(Bloomberg) -- French stocks rose for the first time
in six days. Groupe Danone, Michelin & Cie. and Axa SA paced the
advance.

The CAC 40 Index added 47.07, or 0.8 percent, to 5988.74 at
9:12 a.m. in Paris. The broader SBF 120 Index rose 34.76, or 0.8
percent, to 4367.02.


Read more at Bloomberg Stocks News

Niger rebels want greater stake in uranium, oil

(Reuters) - Nomadic rebels who have launched a string of attacks in northern Niger's Sahara desert said on Wednesday they wanted greater control over uranium and oil reserves being sold off to Chinese and other foreign firms.

The former French colony's desert north has long been a hotbed of dissent, largely beyond government control, full of disillusioned, unemployed youths and awash with arms left over from an uprising by Tuareg, Arab and Toubou nomads in the 1990s.


Read more at Reuters Africa