Suncor Plans $4.14 Billion Expansion of Oil-Sands Operations in Alberta

(Bloomberg) -- Suncor Energy Inc. plans to spend
C$4.4 billion ($4.14 billion) to expand its northern Alberta
mining operations, the second multibillion-dollar oil-sands
project unveiled this week in Canada.

The mine is forecast to increase production of bitumen by
120,000 barrels a day, Suncor, the world's second-largest oil-
sands producer, said today in a statement. Construction may begin
by 2010 and the Voyageur South mine is projected to start
producing by 2013, the Calgary-based company said.


Read more at Bloomberg Energy News

Shanghai's Retreat on World's Fastest Train May Mean Last Stop for Maglev

(Bloomberg) -- Shanghai spent $1.25 billion building
the world's fastest train to the city's Pudong International
Airport. Cindy Huang would rather catch a bus.

The 50 yuan ($6.60) train fare is too costly for most
Shanghainese, says Huang, a human resources officer. The
magnetic-levitation, or maglev, line also terminates in Pudong's
suburbs, 12 kilometers from downtown, meaning most travelers must
get other transportation to reach their final destinations.


Read more at Bloomberg Emerging Markets News

Venezuela Led 9 Billion-Barrel Gain in OPEC Proven Oil Reserves Last Year

(Bloomberg) -- OPEC's proven crude oil reserves
rose 1 percent last year, led by increases in Venezuela and
Iran, at a time when European and U.S. oil companies such as BP
Plc and Repsol YPF SA struggled to find new deposits.

The tally for the 12-nation producer group rose by 9.2
billion barrels to 922.48 billion barrels at the end of 2006,
OPEC said today in its Annual Statistical Bulletin. The increase
was the biggest in four years and equivalent to all of the
proven reserves of Norway, Europe's biggest oil supplier.


Read more at Bloomberg Energy News

Barclays deal would boost ABN board pay: SEC data

(Reuters) - ABN's management and supervisory board withdrew its recommendation to merge with Barclays on Monday, but ABN Chief Executive Rijkman Groenink said ABN still supported Barclays' offer.




Asked whether ABN board members were more inclined to support Barclays because of the proposed levels of pay, an ABN spokesman said: "ABN and its advisors thoroughly investigated whether a potential conflict of interest could arise but that is absolutely not the case."


Read more at Reuters.com Business News

Japan Stocks Decline on U.S. Concerns, Strong Yen; Sony and Mizuho Drop

(Bloomberg) -- Japanese stocks fell after American
Home Mortgage Investment Corp. said it lacks cash to fund new
loans, sending U.S. shares lower and reigniting concerns subprime
problems will curb growth in the world's largest economy.

Exporters including Sony Corp. declined after the yen
strengthened, cutting the value of their overseas sales in the
local currency. The U.S. Standard & Poor's 500 Index posted its
biggest monthly drop in three years.


Read more at Bloomberg Stocks News

Japan's Government Bonds May Gain as Losses at Hedge Funds Spur Purchases

(Bloomberg) -- Japanese bonds may gain for a second
day as reports of more losses at hedge funds globally spur
demand for the relative safety of government debt.

Emerging-market and corporate debt fell yesterday on
concern investors are selling riskier assets as the credit
quality of U.S. mortgages to people with poor credit
deteriorates. Treasuries rose in New York, pushing yields on 10-
year notes to the lowest close since May 16.


Read more at Bloomberg Bonds News

UPDATE 2-First Solar posts 2nd-quarter profit vs loss

(Reuters) - Net income was $44.4 million, or 58 cents a share, compared
with a loss of $2.5 million, or 3 cents a share, a year
earlier.




The second quarter included a one-time tax benefit of 51
cents a share. Excluding the item, earnings were 7 cents a
share, topping analysts' estimate of 2 cents, according to
Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-News Corp board OKs deal to buy Dow Jones-source

(Reuters) - The board met on Tuesday to consider its $60-per-share
offer.




The board vote came after at least 38 percent of Dow
Jones's voting shares held by the Bancroft family agreed to
support the deal, the source said. The family controls 64
percent of the Dow Jones voting shares.


Read more at Reuters.com Mergers News

Bear Stearns Halts Redemptions on Third Hedge Fund After Mortgage Losses

(Bloomberg) -- Bear Stearns Cos., manager of two
hedge funds that collapsed last month, halted redemptions from a
third fund after investors demanded their money back.

The fund had about $900 million invested in asset-backed
securities, including mortgage bonds, spokesman Russell Sherman
said in a telephone interview. The fund probably had losses in
July and was overwhelmed by redemption requests, Sherman said.


Read more at Bloomberg Bonds News

Aon posts higher 2nd-qtr profit, exceeds views

(Reuters) - NEW YORK, July 31 - Aon Corp , the world's second-largest insurance broker, said on Tuesday quarterly net income rose 24 percent, as the brokerage unit generated its highest rate of internal growth since 2003.



Second-quarter net earnings rose to $240 million, or 75 cents a share, from $193 million, or 57 cents a share, in the year-earlier quarter.


Read more at Reuters.com Market News

American Home may liquidate assets, shares plunge

(Reuters) - The development was the latest sign the U.S. housing slump is broadening, as worries about credit quality and defaults spread beyond subprime lenders, which lend to people with weaker credit, to lenders that make higher-quality loans.




American Home, a large mortgage provider, said its lenders cut off access to credit, leaving it unable on Monday to fund $300 million of loans it agreed to make. It expected to be unable to fund $450 million to $500 million of loans on Tuesday.


Read more at Reuters.com Mergers News

UPDATE 1-Meridian, Yamana at odds over hostile bid

(Reuters) - TORONTO, July 31 - Meridian Gold Inc.
urged shareholders on Tuesday to reject Yamana Gold
Inc.'s C$3 billion hostile bid, but
Yamana said it has found support among shareholders and it
expects the deal to go through as is.




Yamana launched the hostile offer for Meridian earlier this
month. As part of the deal, Yamana will also acquire Northern
Orion Resources Inc. for about C$1 billion in a
friendly deal that is conditional on the Meridian takeover
succeeding.


Read more at Reuters.com Mergers News

New Zealand Dollar Declines as Housing Woes Spur Reduction in Risky Bets

(Bloomberg) -- The New Zealand dollar dropped on
renewed concern that losses from U.S. subprime mortgages will
prompt investors to reduce holdings of riskier investments.

The currency, known as the kiwi, is a favorite for the so-
called carry trade, where investors borrow cheaply in yen to
invest in countries that offer higher yields. New Zealand's
record 8.25 percent benchmark rate is 7.75 percentage points
higher than Japan's and 3 points more than the Federal Reserve's
target, luring investors to the local currency. U.S. stocks slid
on concern more companies will be affected by defaults related
to subprime mortgages.


Read more at Bloomberg Currencies News

Argentina bonds, peso in recovery; stocks slip

(Reuters) - Both the Discount bond in pesos and Bonar VII paper rose
2.1 percent, while the Boden 2014 jumped 2.8 percent in
over-the-counter trade .




Some Argentine bonds shed as much as 20 percent last week
amid a sell-off in emerging market assets due to concerns the
U.S. subprime lending crisis would spread. Argentine bonds were
hit harder than others due to long-standing concerns about
inflation and, to a lesser extent, government spending.


Read more at Reuters.com Bonds News

UPDATE 1-Chipotle 2nd-qtr net tops Street, shares rise

(Reuters) - LOS ANGELES, July 31 - Chipotle Mexican Grill Inc
said on Tuesday quarterly earnings nearly doubled,
beating Wall Street estimates, on increased customer traffic
and higher menu prices.




Chipotle shares rose more than 7 percent in extended trade
after the restaurant chain also raised its same-store sales
forecast for the year.


Read more at Reuters.com Market News

Credit worries return, driving Wall St. lower

(Reuters) - Stocks had risen Monday and the first half of Tuesday's session, but the relief rally was cut short when American Home Mortgage Investment Corp. said it may have to liquidate assets. Shares of the mortgage lender fell 90 percent.




Investors remain sensitive to news about worsening lending conditions, which pummeled global equity markets last week. Credit market concerns pushed the S&P down 3.2 percent in July, its worst performance in three years.


Read more at Reuters.com Hot Stocks News

American Home, Dow Jones, MGIC, Optium, RAIT: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges. Stock
symbols are in parentheses after company names. Share prices are
as of 4 p.m. in New York.

Aftermarket Technology Corp. (ATAC US) rose the most since
September 2001, jumping $3.86, or 15 percent, to $30.35. The car-
parts maker increased its 2007 forecast, saying it expects to
earn $1.55 to $1.70 a share. The company earlier predicted profit
of as much as $1.55.


Read more at Bloomberg Stocks News

Corporate Bond Risk Soars on Concerns About Losses From Subprime Mortgages

(Bloomberg) -- The risk of owning U.S. corporate
bonds soared, erasing the biggest drop in at least three years,
as investors signaled that worries about widening losses from
subprime mortgages aren't over.

Credit-default swaps based on $10 million of bonds in the
benchmark CDX North American Investment-Grade Index jumped
$9,000 to about $81,000 at 4:03 p.m. in New York after dropping
earlier by as much as $9,000 to $63,000, according to Deutsche
Bank AG. During the past four days, the index, used to speculate
on corporate creditworthiness, has recorded its two worst and
two best days since it started trading more than three years
ago, according to data from Credit Suisse Group.


Read more at Bloomberg Bonds News

UPDATE 3-Alitalia chairman resigns on eve of board meet

(Reuters) - ROME, July 31 - In a twist of boardroom drama
befitting the crisis at Italian airline Alitalia ,
its chairman Barardino Libonati resigned on Tuesday on the eve
of a crucial board meeting that will decide its future.




Libonati, who was appointed in February to guide the
airline's privatisation, resigned after all the prospective
buyers withdrew from the sale earlier this month.


Read more at Reuters.com Bonds News

Mexico stocks revert gains, fall 0.45 pct

(Reuters) - The benchmark IPC stock index , which had risen more
than one percent in early trades, slid 139 points to 30,761
points. The peso currency firmed by 0.174
percent to 10.931 per dollar.




In debt trading, the price of the benchmark 10-year
government peso bond gained 0.124 points to bid
101.834, with a yield of 7.70 percent.


Read more at Reuters.com Bonds News

TVA to review Tenn. Watts Barr reactor project

(Reuters) - The board, which has not yet decided whether to complete the
unit's construction which was halted in 1988, asked the staff to
study the completion and startup of the unit.




Earlier this year, TVA completed an extensive $1.8 billion
overhaul of 1,155-megawatt Unit 1 at the Browns Ferry nuclear
station in Alabama, which the company shut in 1985 to address
management and operational issues. The board approved the
restart of Browns Ferry 1 in 2002.


Read more at Reuters.com Bonds News

UPDATE 2-American Home can't fund loans, may liquidate assets

(Reuters) - NEW YORK, July 31 - American Home Mortgage Investment Corp , a struggling mortgage lender, said on Tuesday it can no longer provide funding for home loans and has hired advisers to explore options, including a possible "orderly liquidation of its assets."



The Melville, New York-based real estate investment trust is one of the largest U.S. lenders to struggle with a U.S. housing slump that has caused home prices to stall, borrowing costs to rise and defaults to soar.


Read more at Reuters.com Mergers News

BAE Systems says completes Armor takeover

(Reuters) - "The acquisition expands the company's business in the United States and strengthens BAE Systems' position as one of the world's leading land systems businesses," BAE said in a statement to the London Stock Exchange.



BAE announced the transaction valued at $4.53 billion on May 7. Armor makes wheeled military vehicles and vehicle and individual armour systems.


Read more at Reuters.com Mergers News

Economist testifies against Whole Foods, Wild Oats

(Reuters) - By Peter Kaplan



WASHINGTON, July 31 - Competition between Whole Foods Market Inc and Wild Oats Markets Inc had led to lower profit margins, an economist told a U.S. federal judge on Tuesday who is weighing whether to block a merger of the organic grocers.


Read more at Reuters.com Government Filings News

US STOCKS-Indexes trim gains, mortgage insurers slip

(Reuters) - NEW YORK, July 31 - U.S. stocks rose on Tuesday
but were off their highs on jitters about fallout from the
subprime mortgage market and rising oil prices, which partly
offset strong earnings and positive economic indicators.




General Motors Corp. set the stage for gains after
the automaker swung to a profit in the second quarter and
handily topped Wall Street's expectations [ID:nN31206991].


Read more at Reuters.com Bonds News

Health Management net tumbles; forecast is weak

(Reuters) - CHICAGO, July 31 - Hospital chain Health Management Associates posted an 85 percent plunge in quarterly profit Tuesday, citing difficulties in collecting on hospital bills, and forecast 2007 profit significantly below Wall Street estimates.



HMA, whose shares fell 9 percent in pre-market trade, said second-quarter earnings fell to $11.9 million, or 5 cents a share, from $77.3 million, or 32 cents a share, a year earlier.


Read more at Reuters.com Bonds News

FTSE 100 Rallies Most in 14 Months, Paced by GlaxoSmithKline, Lloyds TSB

(Bloomberg) -- U.K. stocks rose for the first time
in six days as profit reports from Lloyds TSB Group Plc and
SABMiller Plc reassured investors that earnings growth will be
sustained. The FTSE 100 Index rallied the most in 14 months.

GlaxoSmithKline Plc advanced after a panel of U.S. doctors
voted to keep the company's diabetes pill Avandia on the market.
Alliance & Leicester Plc rallied on takeover speculation.


Read more at Bloomberg Stocks News

AngloGold Plans to Boost Output, Reduce Costs After Second-Quarter Profit

(Bloomberg) -- AngloGold Ashanti Ltd., Africa's
largest gold producer, said it will increase production and
reduce costs after posting a 1.08 billion-rand ($152.3 million)
second-quarter profit.

Net income was 3.85 rand a share, compared with a loss of
150 million rand, or 53 cents, in the first quarter, the
Johannesburg-based company said today in a statement. Chief
Executive Officer Bobby Godsell, 54, also announced his
retirement after almost a decade in his post.


Read more at Bloomberg Emerging Markets News

Dollar edges up as stocks rally

(Reuters) - Stock indexes opened strongly, recovering for a second day from one of Wall Street's worst weeks in five years, boosted by a rosy corporate earnings outlook. But equities subsequently pared their gains, led by losses in the financial sector.




As a result, the dollar came off its highs against the yen and recovered modestly versus the euro, which at one point slipped below $1.37.


Read more at Reuters.com Hot Stocks News

Morgan Stanley's MSCI plans $200 mln IPO

(Reuters) - NEW YORK, July 31 - Morgan Stanley said on Tuesday it plans to sell part of its stake in index and risk analytics provider MSCI Inc. through an initial public offering as it focuses on its core brokerage business.



The investment bank, which owns 96.6 percent of MSCI's shares outstanding, said that while it plans to initially sell a minority interest later this year, "it would be beneficial to ultimately divest its remaining interest in MSCI."


Read more at Reuters.com Mergers News

UPDATE 1-Hilton Hotels earnings rise on higher rates

(Reuters) - The company, which operates the Hilton, Hampton, and
Doubletree hotel brands, posted second-quarter net profit of
$165 million, or 40 cents per share, compared with $144
million, or 35 cents per share, in the same period a year ago.




Excluding one-time items, including a gain from the sale of
the Scandic hotel chain, the company said it posted
second-quarter earnings of 38 cents per share.


Read more at Reuters.com Mergers News

Entergy, GE-Hitachi in nuclear components deal

(Reuters) - Entergy said it has not yet made a firm decision to build a
new nuclear unit but wants to line up components now to allow
it to do so by 2017.




The company, which says it is the second-largest U.S.
nuclear operator, has operated nuclear plants at both those
sites since the mid-1980s.


Read more at Reuters.com Bonds News

US STOCKS-Indexes open up on earnings view

(Reuters) - The Dow Jones industrial average was up 45.11
points, or 0.34 percent, at 13,403.42. The Standard & Poor's
500 Index was up 6.15 points, or 0.42 percent, at
1,480.06. The Nasdaq Composite Index was up 23.04
points, or 0.89 percent, at 2,606.32.




Read more at Reuters.com Bonds News

WRAPUP 1-U.S. core inflation softens in June

(Reuters) - The 0.1 percent rise in the core personal consumption price
index "should be reassuring to the Fed," said Camilla Sutton,
currency strategist at Scotia Capital in Toronto.




U.S. stock index futures rose on the weak inflation data
and a stronger-than-expected earnings report from General
Motors . U.S. government debt prices fell despite the
inflation report, and the dollar was lower against the euro.


Read more at Reuters.com Economic News

UPDATE 1-Group 1 Automotive's quarterly profit dips

(Reuters) - DETROIT, July 31 - Car dealership chain Group 1 Automotive Inc. said on Tuesday that second-quarter profit fell 3 percent, hurt by declines in new- and used-vehicle revenue.



The Houston-based company, the fourth-largest auto retailer in the United States, said earnings declined to $24.2 million, or $1.01 per share, from $24.9 million, or $1 per share, a year earlier.


Read more at Reuters.com Market News

J&J to cut jobs in restructuring

(Reuters) - The company is targeting savings in its pharmaceuticals division, where it will consolidate certain operations. The company noted that it faces major patent expirations over the next few years to several drugs.




The maker of consumer health products, pharmaceuticals and medical devices is also primarily seeking savings from its Cordis franchise, which competes in the market for drug-coated stents. Such stents have been hit with safety concerns after being initially hailed as revolutionary.


Read more at Reuters.com Business News

UPDATE 1-Entergy posts lower 2nd-qtr earnings

(Reuters) - Net income fell to $267.6 million, or $1.32 per share, from
$281.8 million, or $1.33 per share, a year earlier.




Excluding special items, Entergy's earnings rose on higher
energy prices and output at its nuclear units and lower tax
expenses at its wholesale power business. The company earned
$1.32 per share compared with a year-ago profit of $1.22 per
share when it excluded results from its bankrupt Entergy New
Orleans unit.


Read more at Reuters.com Market News

UPDATE 1-Amedisys Q2 profit beats market estimate; ups FY07 view

(Reuters) - Amedisys earned $14.9 million, or 57 cents a share, for the
quarter, on net service revenue of $169.5 million. Analysts on
average expected earnings of 53 cents a share, on revenue of
$160.4 million, according to Reuters Estimates.




The company raised its 2007 earnings outlook to a range of
$2.10 to $2.20 a share from $2.05 to $2.15. Its new estimate on
net service revenue is $650 million to $675 million, up from
its prior view of $625 million to $650 million.


Read more at Reuters.com Market News

UPDATE 1-Hanover Compressor Q2 earnings rise 20 percent

(Reuters) - Net income for the quarter increased to $26.1 million or 23
cents a share from $21.7 million or 21 cents a share, a year
ago. Analysts expected earnings of 18 cents a share, according
to Reuters Estimates.




Revenue rose 27 percent to $515.7 million, driven primarily
by its compressor and accessory fabrication segment, which
contributed more than a fourth of the company's revenue.


Read more at Reuters.com Market News

MGIC, Radian's C-Bass Subprime Venture Is in Talks to Secure More Funding

(Bloomberg) -- Credit-Based Asset Servicing and
Securitization LLC, a New York-based subprime loan company, said
it's in talks with investors to ensure it has sufficient funds
after turmoil in the market for high-risk borrowers.

Mortgage insurers MGIC Investment Corp. and Radian Group
Inc. yesterday said their C-Bass joint venture may be worthless,
requiring more than $1 billion in writedowns. MGIC, the largest
U.S. insurer of home loans, and Radian, the rival it's buying,
said ``unprecedented'' volatility in mid-July may have destroyed
their stakes, each valued at more than $500 million on June 30.


Read more at Bloomberg Bonds News

Fording profit drops on lower coal prices

(Reuters) - Analysts expected an average of 64 Canadian cents a unit,
according to Reuters Estimates.




Cash available for distributions to unitholders was C$135
million, or 92 Canadian cents a unit during the quarter, down
from C$147 million or C$1.00 a unit a year earlier.


Read more at Reuters.com Market News

Crude Oil Rises to Near One-Year High as Refiners in U.S. Boost Operations

(Bloomberg) -- Crude oil rose close to a one-year
high on expectations U.S. refiners will step up their
operations, increasing demand for crude.

U.S. Energy Department will probably say tomorrow that
refiners increased operating rates 0.4 percentage point last
week, the sixth weekly gain, according to a Bloomberg News
survey. Crude oil stockpiles probably fell 1.3 million barrels
in the period.


Read more at Bloomberg Energy News

Price pressures, merger costs hit Alcatel-Lucent

(Reuters) - Alcatel-Lucent, created in December 2006 by the takeover of U.S.-based Lucent by Alcatel of France, has been struggling to win the confidence of customers spooked by uncertainty over the merged group's technology and product choices.




It already warned in April that sales could fall short of earlier targets.


Read more at Reuters.com Business News

Australian Wool Prices Fall to Lowest in Six Months on China Import Halt

(Bloomberg) -- Wool prices in Australia, the
world's biggest producer and exporter of the fiber, fell to
their lowest in more than six months after China's government
stopped taking applications for imports.

Benchmark prices fell 33 cents, or 3.6 percent, to A$8.96 a
kilogram ($7.71) today on the Eastern Market Indicator, David
Cother, wool services manager at the Australian Wool Exchange,
said from Sydney. That's the lowest since Jan. 10. Sales resumed
today after a three-week Southern Hemisphere winter recess.


Read more at Bloomberg Commodities News

Asian Shares Advance, Posting Longest Monthly Winning Streak in 20 Years

(Bloomberg) -- Asian stocks rose as higher earnings
from Olympus Corp. and Hang Seng Bank Ltd. helped the region's
benchmark post its longest monthly winning streak in 20 years.

BHP Billiton Ltd. led gains by mining companies on
speculation profits will climb along with metals prices.
Disappointing earnings from Kyocera Corp. and Kookmin Bank
limited today's advance.


Read more at Bloomberg Stocks News

FTSE rallies more than 1 pct; GSK, miners shine

(Reuters) - Britain's top share index rose more than 1 percent on Tuesday, boosted by a jump in GlaxoSmithKline and after an overnight rebound on Wall Street helped to arrest a two-week long decline.

GlaxoSmithKline rallied 3.6 percent after an advisory panel said diabetes drug Avandia should stay on the U.S. market even though data suggest it may increase the risk of heart attack for some patients.


Read more at Reuters Africa

Brazilians Hail Taxis for City-to-City Rides as Chaos Besieges Air Travel

(Bloomberg) -- Carlos Amorim stepped on an
interstate bus last week for the first time in three decades.

For six years, he made the 429-kilometer (267-mile) trip to
Sao Paulo from Rio de Janeiro by plane. Like thousands of other
Brazilians, he's switching to travel by bus, car or private jet
to avoid long lines and delays at airports.


Read more at Bloomberg Exclusive News

European, Asian Stocks Rise on Speculation Credit Worries Were Overdone

(Bloomberg) -- European stocks rebounded from a
five-day slide, while Asian shares climbed for a second day as
investors speculated declines have left global equities cheap
relative to prospects for earnings growth.

Aviva Plc, HSBC Holdings Plc and UBS AG led gains by
financial stocks in Europe. GlaxoSmithKline Plc, the region's
second-largest drugmaker, jumped after a panel of medical
specialists said its Avandia drug should remain on the U.S.
market. Olympus Corp. and Hang Seng Bank Ltd. paced gains in Asia
after the companies reported higher earnings.


Read more at Bloomberg Stocks News

European Stocks Rise, Paced by Aviva, UBS, GlaxoSmithKline, BHP Billiton

(Bloomberg) -- European stocks advanced for the
first time in six days on speculation shares have become cheap
relative to prospects for earnings growth.

Aviva Plc, HSBC Holdings Plc and UBS AG led financial stocks
higher. GlaxoSmithKline Plc, the region's second-largest
drugmaker, rose after a panel of medical specialists said its
Avandia drug should remain on the U.S. market. BHP Billiton Ltd.
and Rio Tinto Group gained on higher copper prices.


Read more at Bloomberg Stocks News

UPDATE 1-Japan regulator probes steel firms -source

(Reuters) - The commission had also raided the offices of Sumitomo Metal
Industries Ltd. and Kubota Corp. on suspicion
of collusion to fix prices and decide which would get orders from
construction firms, the source said.




The suspected wrongdoing took place between 2004 and 2005,
the source said.


Read more at Reuters.com Government Filings News

Most Japanese Stocks Climb; Olympus Leads Gains on Earnings, Kyocera Falls

(Bloomberg) -- Most Japanese stocks advanced after
companies including Olympus Corp. and Mitsubishi Corp. reported
first-quarter profit that attracted buyers.

Gains were limited after earnings at companies including
Kyocera Corp. lagged behind investor expectations.


Read more at Bloomberg Stocks News

Alcatel-Lucent Q2 net loss wider than forecast

(Reuters) - The Franco-American telecoms equipment provider reported a net loss of 336 million euros for the three months to June 30 on Tuesday, against a profit of 302 million euros the previous year and compared with expectations of a 147.1 million loss, based on a Reuters poll of 10 analysts.



The company, which also confirmed its full-year sales growth expectations, added the outcome included a negative impact of 176 million euros from several "significant items".


Read more at Reuters.com Market News

Taiwan's Stocks Gain for First Time in Five Days; Cathay Financial Climbs

(Bloomberg) -- Taiwan's stocks rose for the first day
in five as investors judged recent declines excessive and a
newspaper reported the island's mutual funds may invest more.
Cathay Financial Holding Co. led gains.

``Investors have regained their composure after being knocked
around in the global stock market turmoil,'' said Vickie Hsieh,
who helps oversees $1.4 billion at President Investment Trust
Corp. ``Leading Taiwan companies offering good value will be the
most appealing.''


Read more at Bloomberg Stocks News

UPDATE 1-Takeda profit rises 5.1 percent, outlook unchanged

(Reuters) - Actos, the main earnings engine for Japan's largest drug
maker, has seen its fortunes rise after sales of
GlaxoSmithKline's Avandia slumped following a critical
study by top cardiologist Steven Nissen published on May 21.




Takeda said April-June first-quarter net profit climbed to
131 billion yen on a 9.6 percent rise in revenue from a year
earlier to 366 billion yen.


Read more at Reuters.com Market News

Deutsche Boerse, Deutz, Infineon, MAN and MediGene: German Equity Preview

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

Germany's X-DAX Index climbed 0.9 percent to 7529.98. The
index provides an estimate of the DAX Index, based on trading in
DAX futures after the Xetra electronic market closes. The DAX
added 0.1 percent to 7456.31 on the Xetra electronic-trading
system.


Read more at Bloomberg Stocks News

French Suspicions About Wealth Make Exiles Wary of Sarkozy's Tax Reforms

(Bloomberg) -- Nicolas Sarkozy is rolling out the
welcome mat for thousands of rich French people who fled one of
Europe's most onerous tax regimes. Few may heed his call.

In his first economic act as president, Sarkozy is pushing
a tax law to lure back exiles such as rock star Johnny Hallyday,
64, and members of the Mulliez clan, who control the French
retailer Groupe Auchan SA. The measure will increase exemptions
on the ``fortune'' tax -- the bete noire of rich expatriates --
and cap the total individual tax rate at 50 percent of income.


Read more at Bloomberg Bonds News

Two-Year Note Auction in Japan to Draw Lowest Price of 99.97, Survey Shows

(Bloomberg) -- Japan's sale of 1.7 trillion yen
($14.3 billion) of two-year notes today may have a lowest-
accepted price of 99.97, according to the median forecast of 13
traders surveyed by Bloomberg News.

Estimates for the lowest-accepted price ranged from 99.97
to 99.975. The price is the minimum at which the government
sells the securities.


Read more at Bloomberg Bonds News

Indonesia's July Crude Oil Production Falls 0.4 Percent From Month Earlier

(Bloomberg) -- Crude oil output in Indonesia,
Southeast Asia's biggest oil producer, fell 0.4 percent in July
from June, regulator BPMigas said.

Crude production declined to an average of 825,614 barrels a
day from 828,941 barrels a day a month earlier, BPMigas said
today. Output of condensate, a type of light oil produced in
association with natural gas, climbed 2.3 percent to 118,072
barrels a day in July.


Read more at Bloomberg Energy News

Oil steady, investors brace for further crude draw

(Reuters) - U.S. crude eased 16 cents to $76.67 a barrel by 0201 GMT, adding to Monday's 19-cent decline after a day of volatile trade that saw prices swing between $76.05 to $77.33.




But after a seven-week, $12 rally fuelled by U.S. refinery troubles, a spurt of renewed fund investment and OPEC's adherence to supply curbs, prices remain within shouting distance of last July's all-time high $78.40 a barrel.


Read more at Reuters.com Hot Stocks News

China National, Reliance Win Australian Offshore Oil Exploration Permits

(Bloomberg) -- China National Offshore Oil Corp.,
Total SA and India's Reliance Industries Ltd. were among
companies that won offshore oil and gas exploration permits in
Australia.

Hess Corp., Santos Ltd. and Woodside Petroleum Ltd. also won
licenses in the bidding round, which will result in an investment
of more than A$800 million ($688 million) on exploration,
Industry Minister Ian Macfarlane said today in an e-mailed
statement.


Read more at Bloomberg Energy News

News Corp wants more Bancroft support on Dow Jones

(Reuters) - The comment from a News Corp. spokesman pushed Dow Jones shares down as much 8.5 percent. The stock was down 3.1 percent at $52.76 in early afternoon trading, compared to News Corp's bid price of $60 per share.




The Bancroft family, which controls more than 64 percent of Dow Jones's voting shares, is expected to decide by the end of Monday whether to support the Murdoch bid.


Read more at Reuters.com Business News

UPDATE 1-Anadarko Petroleum 2nd-qtr profit down, revenue up

(Reuters) - Profit in the second quarter was $652 million, or $1.39
cents a share, compared with $814 million, or $1.76 a share, in
the same quarter a year earlier.




Total revenue in the quarter surged to $3.31 billion, up
from $1.81 billion in the year-ago quarter, as gas sales nearly
doubled.


Read more at Reuters.com Market News

American Campus posts smaller quarterly loss

(Reuters) - Analysts on average had expected a loss of 6 cents per
share, according to Reuters Estimates.




Read more at Reuters.com Market News

Manufacturers, Steelmakers, Kookmin Bank: 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 1.3 percent to 1,906.71. The Kosdaq
advanced 0.3 percent to 794.19. Kospi 200 futures expiring in
September rose 2 percent to 242.55, while the underlying index
climbed 1.3 percent to 241.39.


Read more at Bloomberg Stocks News

UPDATE 1-Chile bottler Andina first half net up 9.9 pct

(Reuters) - Andina , which bottles and distributes
Coca-Cola products in Chile, Brazil and Argentina, said
profit for the January-June period was 35.014 billion pesos
versus 31.847 billion pesos in the same period
last year.




"This first quarter we had good results because of a rise
in volume, a rise in real prices and a positive macroeconomic
environment," the company said in a statement.


Read more at Reuters.com Market News

Canadian Dollar Falls for 4th Day on Subprime Debt, Commodities Concerns

(Bloomberg) -- The Canadian dollar fell for a
fourth day as investors sold commodity-linked currencies on
speculation U.S. subprime mortgage losses will slow the world's
largest economy.

The Canadian currency was the second-worst performer among
the 16 most actively traded currencies, trailing only Japan's
yen, while falling 0.3 percent to 93.70 U.S. cents. One U.S.
dollar buys C$1.0662.


Read more at Bloomberg Currencies News

Community Health 2nd-qtr profit up 3 pct

(Reuters) - CHICAGO, July 30 - Community Health Systems Inc. , which recently bought a rival for $5.1 billion to create the biggest investor-owned hospital chain, said on Monday that profit rose nearly 3 percent on admissions from acquisitions.



Second-quarter profit increased to $53.8 million, or 57 cents per share, from $52.4 million, or 54 cents per share, a year earlier.


Read more at Reuters.com Market News

Yen May Extend Decline Against Euro, Dollar as Stock Rally Encourages Risk

(Bloomberg) -- The yen may extend its decline
against the euro and dollar as a rebound in U.S. stocks might
restore investors' confidence to buy higher-yielding assets
funded by loans in Japan.

The Japanese currency dropped yesterday as rising U.S.
equities encouraged investors to resume the so-called carry
trade. Japan's yen has gained against all 16 major currencies
tracked by Bloomberg this month amid concern over subprime losses
and credit risks.


Read more at Bloomberg Currencies News

U.S. vehicles rank bottom in world fuel efficiency

(Reuters) - The report comes as the House of Representatives will debate energy legislation this week, and some lawmakers want to tack on language to significantly increase the miles American cars and trucks travel on a gallon a gasoline.




U.S. fuel-efficiency requirements for passenger cars have been stuck at 27.5 miles per gallon since 1985, while the standard for pickups, minivans and other light trucks will increase from 20.7 mpg in 2004 to 24 mpg in 2011.


Read more at Reuters.com Business News

UPDATE 1-GM offers zero-percent financing on pickups

(Reuters) - DETROIT, July 30 - General Motors Corp
said on Monday it had begun offering zero-percent financing for
up to 60 months on the extended and crew cab versions of its
2007 pickup trucks in response to competitors' discounts.




"We want to be competitive in the marketplace and there has
been increasingly heavy spending by our competitors," said John
McDonald, GM spokesman.


Read more at Reuters.com Bonds News

Paulson says Treasury to hit debt limit in October

(Reuters) - "These actions should be reserved only for extraordinary circumstances, and should be avoided," Paulson said.




The U.S. debt limit is set by statute, so the Treasury has to seek Congress' approval for an increase. With both houses of Congress now under Democratic control, the request likely sets the stage for a debate about the Bush administration's management of the economy and of the national debt.


Read more at Reuters.com Bonds News

GLOBAL MARKETS-Stocks up, bonds slip, but credit worries lurk

(Reuters) - NEW YORK, July 30 - Stocks climbed on Monday
after last week's drop on credit concerns, while a safe-haven
bid for U.S. government bonds abated somewhat, but trade was
jumpy as investors' jitters about riskier assets lingered.




The dollar drifted lower against most currencies, as
traders remained wary of weakness in U.S. credit markets.


Read more at Reuters.com Bonds News

Emerging-Market Bonds Rebound, Following Equities as Risk Aversion Recedes

(Bloomberg) -- Emerging-market bonds rose, erasing
earlier losses, as gains in global stock markets prompted
investors to buy riskier, higher-yielding securities.

Developing nation debt is rebounding from declines spurred
by concern losses from subprime mortgages may spread to other
markets. The extra yield investors demand to hold emerging-
market bonds today fell to its lowest since July 25. The Dow
Jones Industrial Average advanced almost 1 percent.


Read more at Bloomberg Emerging Markets News

Copper Gains as Dollar Drops, Making Metal Priced in U.S. Currency Cheaper

(Bloomberg) -- Copper rose more than 1 percent in
New York on speculation that a weaker dollar will encourage
buyers holding other currencies to purchase the metal.

The dollar dropped the most in more than two weeks against
the euro. A change in exchange rates makes copper, traded in
dollars, more or less expensive for buyers using other
currencies. The metal has gained 25 percent this year, while the
dollar is down 3.7 percent against the euro.


Read more at Bloomberg Commodities News

UPDATE 1-Cedar Fair says not in takeover talks

(Reuters) - The New York Post earlier on Monday reported that Cedar
Fair was in talks to be taken over by investment firm Destiny
Capital in a deal worth $4.1 billion.




"An article today reports a claim by an organization
referred to as 'Destiny Capital' that constructive negotiations
with the company have been undertaken. We are not currently in
negotiations with that organization or any other party," said
Cedar Fair Chief Executive Dick Kinzel in a statement.


Read more at Reuters.com Bonds News

Mexican stocks extend gains, America Movil leads

(Reuters) - The benchmark IPC stock index surged 2.50 percent to
30,989 points and the peso currency was stable
at 10.963 per dollar.




In debt trading, the price of the benchmark government
10-year peso bond rose 0.247 points to bid 101.648,
with a yield of 7.73 percent.


Read more at Reuters.com Bonds News

U.S. Stocks Rebound on Upgrades; KB Home, Nordstrom, Terex Shares Advance

(Bloomberg) -- U.S. stocks rebounded, pacing a
global advance, after Wall Street brokerages told investors to
buy shares that fell during last week's $2.1 trillion global
sell-off.

KB Home led homebuilders higher after Citi Investment
Resarch raised the shares to ``buy.'' Nordstrom Inc. posted its
steepest gain since August on a Goldman, Sachs & Co. upgrade.
Terex Corp., the maker of trucks and cranes, surged the most in
three weeks and led the Standard & Poor's 500 Index higher
after Goldman, Sachs & Co. advised clients to buy the shares.


Read more at Bloomberg Stocks News

U.S. online help-wanted ads fall in July: report

(Reuters) - A year ago, the figure was 3.41 million.




"The monthly decline in July in large part reflects the July 4th holiday week when ad volume dropped," said Gad Levanon, economist at the Conference Board.


Read more at Reuters.com Economic News

US STOCKS-Credit worries drag on stocks, offset profit view

(Reuters) - NEW YORK, July 30 - U.S. stocks traded little
changed in erratic trading on Monday after Wall Street's worst
week in nearly five years as concerns about the deteriorating
credit market countered optimism about the earnings outlook.




Tightening lending standards threatened to slow or halt the
heavy pace of corporate buyouts, including several major deals
by private equity firms, which have fueled a rally in stocks.


Read more at Reuters.com Bonds News

UPDATE 1-Charles Evans to replace Moskow at Chicago Fed

(Reuters) - Evans, 49, becomes the ninth Chicago Fed president. He
succeeds Michael Moskow, who is retiring on Aug. 31.




Evans will vote on U.S. interest-rate policy at the final
three Federal Open Market Committee meetings of 2007.


Read more at Reuters.com Bonds News

Copper Futures Gain in New York, Erasing Earlier Loss, on Weaker Dollar

(Bloomberg) -- Copper gained in New York, erasing
earlier losses, on speculation that a weaker dollar will
encourage buyers holding other currencies to purchase the metal.

The dollar dropped the most in more than two weeks against
the euro. A change in the U.S. currency's value makes copper,
traded in dollars, more or less expensive for buyers using other
currencies. Before today, the metal had gained 24 percent this
year, as the dollar fell 3.3 percent against the euro.


Read more at Bloomberg Commodities News

Lone Star extends tender offer for Accredited Home

(Reuters) - NEW YORK, July 30 - Private equity firm Lone Star, which agreed to acquire Accredited Home Lenders Holding Co. in June, said on Monday it was extending its tender offer by 10 business days for all outstanding shares of the struggling subprime mortgage lender's common stock.



The date has been extended till Aug. 14 because Accredited Home had not obtained regulatory approvals required to close the tender offer by the previous deadline of July 27, Lone Star said.


Read more at Reuters.com Mergers News

Nordstrom, RadioShack, Rural Cellular, ValueClick: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 10:10 a.m. in New York.

Home Depot Inc. (HD US) rose the most since June 20, gaining
61 cents, or 1.7 percent, to $37.36. Shares of the world's
largest home-improvement retailer could double in the next three
years, Barron's said, citing no one.


Read more at Bloomberg Stocks News

U.S. Treasury to sell $26 bln 4-week bills

(Reuters) - Threshold $9.1 bln
NLP Exclusion




Amt $11.2 bln


Read more at Reuters.com Bonds News

Pound Falls Against Euro, Pares Gains Versus Yen on Carry Trade Unwinding

(Bloomberg) -- The pound declined to a two-week low
against the euro and traded near the weakest versus the yen in
almost two months on speculation investors will unwind carry
trades after the risk of holding corporate debt surged.

The U.K. currency has dropped more than 3 percent against
the yen in July, heading for its biggest monthly decline since
August 2006. Widening losses on securities backed by subprime
mortgages prompted traders to reduce investment in high-yielding
currencies such as the pound using funds borrowed in Japan. U.K.
interest rates are the highest among Group of Seven economies.


Read more at Bloomberg Currencies News

US STOCKS-Indexes rise after last week's sell-off

(Reuters) - The Dow Jones industrial average was up 43.09
points, or 0.32 percent, at 13,308.56. The Standard & Poor's
500 Index was up 4.69 points, or 0.32 percent, at
1,463.64. The Nasdaq Composite Index was up 8.45
points, or 0.33 percent, at 2,570.69.




Read more at Reuters.com Bonds News

Canadian Stocks Rebound From Biggest Weekly Loss in 6 Years; EnCana Gains

(Bloomberg) -- Canadian stocks rose after investors
speculated that the steepest weekly sell-off in almost six years
was overdone.

EnCana Corp. paced gains in energy and raw-material stocks,
which had among the biggest declines last week, on higher prices
for natural gas.


Read more at Bloomberg Stocks News

Oil Is Little Changed, Close to One-Year High, as Demand Outpaces Supplies

(Bloomberg) -- Crude oil fell from the highest in
almost a year amid speculation U.S. fuel stockpiles increased
last week.

Crude oil for September delivery slipped 38 cents, or 0.5
percent, to $76.64 a barrel at 10:05 a.m. on the New York
Mercantile Exchange. Futures reached $77.33 today, the highest
intraday price for a front-month contract since Aug. 9.


Read more at Bloomberg Commodities News

PPL says plans to sell two of its businesses

(Reuters) - PPL said it expects the sale to be completed during the
second half of 2008.





Read more at Reuters.com Mergers News

Tyson posts profit, raises outlook

(Reuters) - The results topped analysts' estimates, which averaged 25 cents a share, according to Reuters Estimates.




Also on Monday, Tyson forecast fiscal-year earnings at 82 cents to 92 cents a share, up from its outlook in April of 65 cents to 90 cents.


Read more at Reuters.com Market News

Canadian Dollar Falls for Fourth Day on U.S. Subprime Impact Speculation

(Bloomberg) -- The Canadian dollar fell for a
fourth day as investors sold commodity-linked currencies on
speculation U.S. subprime mortgage losses will slow the world's
largest economy.

The Canadian currency fell 0.3 percent to 93.69 U.S. cents
at 8:58 a.m. in Toronto, extending the decline last week when it
dropped 1.45 percent. One U.S. dollar buys C$1.0674. Canada's
dollar fell 0.42 percent against the yen to 111.03.


Read more at Bloomberg Currencies News

UPDATE 1-US FDA scientist urges taking Avandia off market

(Reuters) - Graham, in slides prepared for his remarks to an advisory
panel, said Avandia increases the risk of cardiovascular
problems such as heart attacks while rival drug Actos, made by
Takeda Pharmaceutical Co. Ltd. , does not.




Senior FDA officials say they do not know if Avandia, known
generically as rosiglitazone, increases heart-attack risk and
are asking the advisory panel if the drug should come off the
market or stay with stronger warnings or limits. Panel
recommendations are expected on Monday afternoon.


Read more at Reuters.com Government Filings News

US STOCKS-Wall St. set to fall on credit jitters

(Reuters) - NEW YORK, July 30 - U.S. stock index futures
pointed to a weaker start for the market in choppy trading on
Monday after heavy losses last week on fear that a credit
crunch would slow or stop the pace of takeovers that have
boosted stocks.




In the latest sign of problems in the home lending market,
American Home Mortgage Investment Corp. said its banks
were demanding that it put up more cash after the mortgage
lender was forced to write down the value of its mortgage and
security portfolios. The shares fell 25 percent before the
opening bell.


Read more at Reuters.com Bonds News

Canadian Dollar Falls for Fourth Day on U.S. Subprime Crisis Speculation

(Bloomberg) -- The Canadian dollar fell for a
fourth straight day as investors sold commodity-linked
currencies on speculation U.S. subprime mortgage losses will
slow the world's largest economy.

The Canadian currency fell 0.38 percent to 93.61 U.S. cents
at 8:14 a.m. in Toronto, extending the decline last week, when
it dropped 1.45 percent. One U.S. dollar buys C$1.0683. Canada's
dollar fell 0.72 percent against the yen to 110.72.


Read more at Bloomberg Currencies News

FPL 2nd-quarter earnings rise

(Reuters) - Excluding special items and the changing value of its
trading contracts, it earned $347 million, or 86 cents per
share.




Analysts on average had expected the company to post 80
cents per share, according to Reuters Estimates.


Read more at Reuters.com Market News

RPT-KPN says Getronics offer price is "fair" - CNBC

(Reuters) - KPN said earlier in a statement the takeover offer for
Getronics, worth 766 million euros in total, was
part of its strategy to move from providing communications links
to more value-added services in the business market.




Read more at Reuters.com Mergers News

Anglo Platinum CEO to resign end-August

(Reuters) - Ralph Havenstein, the chief executive of Angloplat, said on Monday he would resign from heading the world's biggest platinum producer, effective August 31.

Havenstein will be replaced by two Angloplat officials -- Norman Mbazima, the finance director, and Duncan Wanblad, the director of projects and engineering. Mbazima and Wanblad will be joint acting CEOs for operational and commercial activities, respectively.


Read more at Reuters Africa

UPDATE 1-RadioShack posts quarterly profit

(Reuters) - Earnings came to $47 million, or 34 cents a share, for the
quarter, compared with a year-earlier loss of $3 million, or 2
cents a share.




Analysts expected profit of 25 cents a share, according to
Reuters Estimates. It was not immediately clear whether the
estimates were comparable.


Read more at Reuters.com Market News

Tunisian bank STB first-half revenues rise 7.2 pct

(Reuters) - Societe Tunisienne de Banque (STB), Tunisia's largest bank by assets, reported a 7.2 percent increase in first-half revenues as its interest margin widened.

The bank's revenues rose to 93.7 million dinars for January-June from 87.3 million a year earlier, according to figures on the Tunis bourse Web site on Monday.


Read more at Reuters Africa

Wall Street set to open firmer after sell-off

(Reuters) - "This isn't a turnaround of the downward trend. This is just a small technical market reaction, which is not based on economic fundamentals," said Lutz Roehmeyer, a fund manager at LBB Invest.




U.S. stocks plunged for a second day on Friday as tightening credit conditions led to concerns that takeovers would slow.


Read more at Reuters.com Bonds News

Cedar Fair in talks on $4.1 bln takeover -report

(Reuters) - The talks are at an early stage after the two sides started
negotiating two weeks ago, the paper said.




Destiny Capital has proposed paying a 20 percent premium
over Cedar Fair's current market value, the Post said.


Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Rise; Alcoa, GM , Akamai Technologies Advance

(Bloomberg) -- U.S. stock-index futures rose as
investors speculated the biggest weekly sell-off in more than
four years was excessive.

Alcoa Inc., the world's second-largest aluminum company, and
General Motors Corp. rose in Europe after their shares lost more
than 10 percent last week. Verizon Communications Inc. may be
active before the telephone service provider posts earnings.


Read more at Bloomberg Stocks News

French CAC 40 Index Increases; France Telecom Gains on Recommendation

(Bloomberg) -- French stocks rose, paced by
Michelin & Cie. and France Telecom SA.

The CAC 40 Index advanced 19.77, or 0.4 percent, to 5663.73
at 10:45 a.m. in Paris. The SBF 120 Index also added 0.4
percent. The CAC sank 5.3 percent last week for its biggest
weekly loss since the five days ending March 28, 2003.


Read more at Bloomberg Stocks News

GM, Ford, Toyota Back New U.S. Mileage Goals to Head Off Stricter Rules

(Bloomberg) -- Automakers are embracing legislation
in the U.S. House that would raise fuel-economy standards,
abandoning years of resistance because of concerns they might
otherwise be forced to accept even tougher measures.

An industry group representing General Motors Corp., Ford
Motor Co., Toyota Motor Corp. and six other auto companies is
backing a bill that would require a more than one-quarter
increase in average vehicle mileage by 2022. Competing measures
in the House and Senate mandate stricter requirements that would
compel earlier compliance and probably cost the industry more.


Read more at Bloomberg Exclusive News

JGBs fall from 2-month high on stocks, BOJ jitters

(Reuters) - JGBs extended losses as investors took profits after
concluding that bond yields have fallen too far if the BOJ
decides to lift the overnight call rate to a 12-year high of
0.75 percent in August from the current 0.50 percent.




A global slide in equity and corporate bond markets in the
past week has stirred doubts about a BOJ interest rate rise next
month, and driven benchmark JGB yields to two-month lows.


Read more at Reuters.com Bonds News

European Stocks Advance, Led by Imperial Chemicals, Linde; IKB Tumbles

(Bloomberg) -- European stocks rose for the first
time in five days, led by Imperial Chemical Industries Plc after
the company rejected a bid from Dutch rival Akzo Nobel NV.

Linde AG, the world's largest maker of industrial gases,
also gained after reporting earnings that topped analysts'
estimates. BHP Billiton Ltd. and Rio Tinto Group led mining
shares higher as copper increased.


Read more at Bloomberg Stocks News

Corn, Soybeans Rise on Concern Over U.S. Crop Conditions; Wheat Declines

(Bloomberg) -- Corn and soybean futures in Chicago
gained on speculation a government report later today will show
a decline in crop conditions for a fourth straight week. Wheat
futures fell as investors bet recent gains were overdone.

An estimated 62 percent of the corn crop was in good or
excellent condition as of July 22, down from 64 percent a week
earlier and up from 59 percent a year earlier, the U.S.
Department of Agriculture said in its latest report on July 23.


Read more at Bloomberg Commodities News

Pearson H1 profit up, raises education sales forecast

(Reuters) -



LONDON, July 30 - Book and newspaper publisher Pearson reported a sharp rise in first half profits on Monday and raised its full-year sales forecast for its core professional education business to growth of 5-7 percent.


Read more at Reuters.com Mergers News

Asian Stocks Rebound From 1-Month Low; JFE, Nippon Steel Rise, Canon Falls

(Bloomberg) -- Asian stocks rebounded from a one-
month low after higher profits at JFE Holdings Inc. and Nippon
Steel Corp. offset concerns of a drop in U.S. housing investment.

Canon Inc., the world's largest digital-camera maker, and
Macquarie Bank Ltd., Australia's biggest investment bank, led
declines on speculation the housing slump will slow U.S. consumer
spending and end a global boom in takeovers.


Read more at Bloomberg Stocks News

UK's Ultra H1 underlying profit rises 7 pct

(Reuters) - Ultra's revenues grew by 7 percent to 192.9 million pounds,
and the company proposed a dividend of 6.7 pence, up 14 percent
from a year earlier.




Read more at Reuters.com Market News

KPN to bid for Getronics, reports Q2 results

(Reuters) - KPN's second-quarter earnings before interest, tax,
depreciation and amortisation were flat at 1.28 billion
euros and compared with an average forecast of 1.23 billion in a
Reuters poll of 12 analysts.




Read more at Reuters.com Mergers News

India's Central Bank May Keep Benchmark Rate Unchanged as Inflation Slows

(Bloomberg) -- India's central bank will probably
keep its benchmark interest rate unchanged for a second quarter
as slower credit growth helps curb inflation.

Reserve Bank of India Governor Yaga Venugopal Reddy will
leave the overnight lending rate at 7.75 percent, according to
all 19 analysts in a Bloomberg News survey. The quarterly
monetary policy statement is due at noon in Mumbai tomorrow.


Read more at Bloomberg Emerging Markets News

ABN AMRO reports Q2, says is neutral on bids

(Reuters) - ABN said it was currently not in the position to recommend the offers from Barclays or the RBS-led consortium, which also includes Belgian-Dutch Fortis and Spain's Santander.




ABN had a net profit of 1.13 billion euros in the second quarter, compared with 1.216 billion euros a year earlier and the 1 billion euros average forecast in a Reuters survey of five analysts.


Read more at Reuters.com Market News

Japanese Wheat Prices May Rise 10 Percent on Global Rates, Official Says

(Bloomberg) -- Japan's domestic wheat prices may
rise around 10 percent this year, the first annual gain in 24
years, hurting noodle makers which may not be able to pass on
the higher cost to customers.

The government may allow the increase as it seeks to bring
local prices more in line with world markets and after futures
in Chicago, the world benchmark for the commodity, soared to a
record, Hirotaka Mori, an agriculture ministry official who
oversees import policy, said in an interview in Tokyo.


Read more at Bloomberg Commodities News

CPC's Kaohsiung Crude Oil Unit in Taiwan Is Unaffected by Yesterday's Fire

(Bloomberg) -- CPC Corp., Taiwan's state-owned oil
refiner, said a crude distillation unit at its Kaohsiung
refinery in the southern part of the island was unaffected by a
fire yesterday. No one was hurt in the incident.

The fire, which broke out during an attempt to restart the
unit, was extinguished within 10 minutes, Jessica Tang, a
Taipei-based spokeswoman, said by telephone today. The plant,
which can process 100,000 barrels of crude oil a day into fuels
including gasoline and diesel, has closed since June 6 for
scheduled maintenance.


Read more at Bloomberg Energy News

UPDATE 1-Japan Fast Retailing to open big London Uniqlo shop

(Reuters) - Fast Retailing, one of Japan's largest retailers with a
nationwide chain of more than 700 Uniqlo shops, has pledged to
invest up to 400 billion yen over the next three
years on mergers and acquisitions in a bid to double annual
sales to 1 trillion yen by 2010.




The clothing retailer unveiled a $900 million bid for Jones
Apparel Group's upscale clothing chain Barney's New York
Inc. in early July.


Read more at Reuters.com Mergers News

Kirin Says Talks Continue on Investment in San Miguel Australia Drink Unit

(Bloomberg) -- Kirin Holdings Co., Japan's biggest
beermaker, said it remains in talks to invest in San Miguel
Corp.'s Australia dairy and juice unit.

Kirin will buy as much as 49 percent of San Miguel's
National Foods Ltd. for A$1.2 billion ($1 billion), the
Australian Financial Review reported today, without saying
where it obtained the information.


Read more at Bloomberg Emerging Markets News

Tunisia Central Bank, Kingboard, Hong Long, Sri Lanka: Asia Bond Alert

(Bloomberg) -- PT Mobile-8 Telecom, an Indonesian
mobile-phone operator that counts Qualcomm Inc. as an investor,
and Hong Long Holdings Ltd., a Chinese developer, are among
borrowers seeking to sell at least $5.6 billion of bonds in Asia,
according to data compiled by Bloomberg.

Governments and companies in Asia sold $43.8 billion of
debt denominated in dollars, euros and yen this year, up from
$38.2 billion a year earlier, Bloomberg data show. Sales of
Samurai bonds, yen debt sold by foreign entities in Japan, rose
to 1.4 trillion yen ($11.8 billion), from 741 billion yen in the
whole of 2006.


Read more at Bloomberg Bonds News

Japan Shares Fall on Ruling Party's Election Defeat, U.S. Subprime Concern

(Bloomberg) -- Japanese stocks dropped after
Japan's ruling party suffered a worse-than-expected electoral
defeat and U.S. residential investment slumped, raising concern
the world's largest economy will slow.

Sony Corp. slid and Nintendo Co. extended its two-day loss
to 9.6 percent, leading exporters lower after the yen advanced
to the highest against the dollar in more than three months,
reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

Australian Shares Extend Drop on U.S. Housing Concern; James Hardie Falls

(Bloomberg) -- Australia's benchmark stock index,
the S&P/ASX 200 Index, fell 0.08 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange fell 4.70 to 6,078.20. Among the stocks in the index, 32
rose, 160 fell and 9 were unchanged.


Read more at Bloomberg Stocks News

Bank Rakyat, Bharat Heavy, China Life, Hana: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or
fall today in Asian markets, excluding Japan. This preview
includes news that broke after markets closed on July 27. Prices
are from the local market's last close. Stock symbols are in
parentheses after company names.

PT Bank Rakyat Indonesia (BBRI IJ): Indonesia's biggest
lender by market value said profit in the first half rose 17
percent as it expanded lending to companies and consumers in an
accelerating economy. Net income increased to 2.36 trillion
rupiah ($255 million) in the six months ended June 30, from 2.01
trillion rupiah a year earlier. The shares fell 200 rupiah, or
3.2 percent, to 6,100.


Read more at Bloomberg Stocks News

Amazon.com, Brown Shoe, Deckers, NetGear, Rambus: U.S. Equity Preview

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

Amazon.com Inc. (AMZN US): Shares of the world's biggest
online retailer are too expensive after this past week's
increase, and expansion plans threaten its profit margins,
Barron's said, citing no one. Amazon stock rose 3 cents to
$84.04 on July 27.


Read more at Bloomberg Stocks News

Japanese PM suffers election drubbing but stays on

(Reuters) - TOKYO, July 30 - Japanese Prime Minister Shinzo
Abe's conservative ruling camp suffered a crushing defeat in
upper house elections on Sunday, but the 52-year-old hawkish
leader insisted he would stay in his job despite the bashing.




"I am determined to carry out my promises although the
situation is severe," Abe said, after acknowledging that he was
responsible for the huge loss.


Read more at Reuters.com Bonds News

Germany warn Siemens on Libya atomic deal - paper

(Reuters) - Germany's Environment Ministry and opposition Greens party have warned Siemens not to take part in a planned French nuclear deal with Libya, Handelsblatt reported.

French President Nicolas Sarkozy signed a memorandum of understanding for a nuclear energy deal with Libya during a visit there last week.


Read more at Reuters Africa

Madagascar, China sign deals worth $78 million

(Reuters) - China and Madagascar have signed four deals worth roughly $78 million for hotel construction and debt alleviation among other things, Malagasy officials said.

The deals confirmed agreements made at the China-Africa summit in Beijing last November between the Asian powerhouse and the enormous, mineral-rich island.


Read more at Reuters Africa

Asian Stocks Have Worst Week in a Year on Housing Concern; Samsung Drops

(Bloomberg) -- Asian stocks had the biggest weekly
drop in a year as U.S. reports heightened concern that a housing
slump is spreading in the world's biggest economy. BHP Billiton
and Samsung Electronics Co. led the slide.

``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages
the equivalent of $11.4 billion. ``If the U.S. is under question,
there might be a broader contagion.''


Read more at Bloomberg Stocks News

US economic growth rebounds in second quarter

(Reuters) - U.S. economic growth rebounded during the second quarter to its strongest pace since the beginning of last year on a surge in business investment, more government spending and a better trade performance, the Commerce Department reported on Friday.

Gross domestic product that measures total output within U.S. borders gained at a 3.4 percent annual rate -- the fastest since 4.8 percent in the first quarter of 2006 -- after barely growing at a downwardly revised 0.6 percent pace in the first quarter. Second-quarter growth exceeded Wall Street economists' forecasts for a 3.2 percent rate of increase.


Read more at Reuters Africa

South African Rand Posts Biggest Weekly Decline in 5 Months on Global Risk

(Bloomberg) -- South Africa's rand had its biggest
weekly slide against the dollar in almost five months as global
stocks slumped and investors sold emerging-market assets.

The rand also dropped against the yen and the Swiss franc
as investors sold South African stocks and bonds to unwind so-
called carry trades. Government debt declined for a third week
as traders raised cash to pay back loans in yen and francs used
to fund purchases of emerging-market securities.


Read more at Bloomberg Emerging Markets News

Hedge fund AQR plans IPO -WSJ

(Reuters) - AQR could not be reached immediately for comment.





Read more at Reuters.com Bonds News

Bally noteholders agree to Chapter 11 reorg. plan

(Reuters) - The shareholders -- four private equity funds -- have
outlined a different restructuring plan for the ailing company
and had agreed to complete due diligence by July 20, the
Chicago-based company said earlier.




Bally said health club operations and memberships will
remain unaffected through the process.


Read more at Reuters.com Bonds News

UPDATE 1-Centerra Gold profit falls as production slips

(Reuters) - Centerra earned $18.6 million, or 9 cents a share, compared
with a profit of $29 million, or 13 cents a share, in the
year-before period.




Analysts polled by Reuters had expected, on average, profit
of 3 cents a share.


Read more at Reuters.com Market News

S&P cuts WCI Communities' rating by three notches

(Reuters) - "The same negative macro pressures that have
hampered efforts to sell the company outright will make it
increasingly difficult for the company to market its homes,"
S&P said.




S&P cut WCI's rating to "CCC-plus," seven steps below
investment grade, from "B-plus." The rating remains under
review for another downgrade, S&P said.


Read more at Reuters.com Bonds News

Kraft profit seen lower as new investors watch

(Reuters) - Activist investors Nelson Peltz and Carl Icahn both have purchased stakes in the No. 1 U.S. packaged food maker and the Wall Street Journal reported on Thursday that Warren Buffett's Berkshire Hathaway Inc also has bought a small stake.




Kraft shares are down about 7.5 percent this year, compared with a 2.5 percent increase in the Standard & Poor's packaged foods index .


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Bonds soar as stocks dive on credit worries

(Reuters) - However, profit-taking and fatigue after Thursday's rally prevented Treasuries from tapping a strong flight-to-quality bid from the distressed equity market, analysts said.




Data showing the U.S. economy grew at a surprisingly strong rate in the second quarter of 2007 only briefly calmed fears of a slump following this week's turmoil in global financial markets. See for details.


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US STOCKS-Wall St ends sharply lower on credit concerns

(Reuters) - The Dow Jones industrial average was down 207.53
points, or 1.54 percent, at 13,266.04. The Standard & Poor's
500 Index was down 23.67 points, or 1.60 percent, at
1,458.99. The Nasdaq Composite Index was down 37.10
points, or 1.43 percent, at 2,562.24.




Read more at Reuters.com Bonds News

Calpine mulls alternative reorganization moves

(Reuters) - Calpine was working with investment banker Miller Buckfire
& Co. "to gauge potential investors' interest" in sponsoring a
guaranteed distribution plan, according to the filing.




Such a plan would "not compromise" Calpine's balance sheet
on emergence from bankruptcy, the company said.


Read more at Reuters.com Bonds News

UPDATE 1-Bancroft branch to vote against Murdoch bid -WSJ

(Reuters) - The newspaper also reported that the Denver branch of the
family, which holds 9.1 percent of Dow Jones's voting stock and
supports the News Corp deal, wants Murdoch to raise his
$60-per-share bid.




The Denver trust has argued that shareholders who own
super-voting Class B shares should get a 10 percent to 20
percent premium.


Read more at Reuters.com Mergers News

Janus shares rise on fund inflows after 6-year gap

(Reuters) - The gains came even as the S&P 500 and Dow Jones industrial average indices were down about 1 percent on worries about tightening credit markets. The S&P Asset Management and Custody Banks index was down 1.6 percent.




Janus reported on Thursday its core funds attracted $1.5 billion in long-term net inflows in the second-quarter, the first quarterly net inflows since 2001. It also posted a 57 percent jump in second-quarter profit, beating analysts' expectations.


Read more at Reuters.com Hot Stocks News

US audit watchdog finds faults with KPMG work

(Reuters) - "In addition, the deficiencies included failures by the
firm to perform, or perform sufficiently, certain necessary
audit procedures," the agency said in its report.




It cited cases with seven unnamed companies that ranged
from a failure to obtain sufficient competent matter to support
its audit opinion, to a failure to test whether certain data
the company provided was complete, accurate and relevant.


Read more at Reuters.com Government Filings News

Economy moving toward sustained growth: Paulson

(Reuters) - "We're seeing risk being repriced and a different perspective on risk," Paulson said, but he said the U.S. and global economies remained healthy.




Paulson said parts of the U.S. economy, particularly the housing sector, had been booming at a pace that couldn't last and that was changing.


Read more at Reuters.com Bonds News

Ford shares up on forecasts for faster turnaround

(Reuters) - Johnson is now forecasting a narrower 2007 loss for Ford of 62 cents per share from his earlier estimate of a loss of $1.77. He expects Ford to lose 23 cents a share in 2008.




Ford on Thursday posted a profit of $750 million, its first in two years, on improved auto business and cost-cutting in its troubled U.S. operations.


Read more at Reuters.com Hot Stocks News

Sara Lee recalls bread that may have metal pieces

(Reuters) - The bakery is still operating using bagged whole-wheat flour that does not require sifting, Goldman said,




The bread subject to recall is sold in Mississippi and Alabama, most of Arkansas, far southeastern Missouri, western Georgia, southwestern Tennessee, southeastern Louisiana and the panhandle of Florida, Sara Lee said..


Read more at Reuters.com Bonds News

UPDATE 2-Mexico holds rate steady despite higher inflation

(Reuters) - MEXICO CITY, July 27 - Mexico's central bank held
the key overnight interest rate steady at 7.25 percent on
Friday, but warned that it would boost rates if necessary just
days after reporting that inflation had nudged into its danger
zone.




The bank said it sees inflation, which has been stubbornly
trending higher, closing in on its long-term 3 percent target
by the end of 2008 even though food prices are still volatile.


Read more at Reuters.com Bonds News

Lead Heads for Largest Weekly Loss Since 1988 in London; Nickel Declines

(Bloomberg) -- Lead headed for its biggest weekly
drop since at least 1988 after traders judged that last week's
record high no longer reflected the outlook for supply. Nickel
also declined, while copper rose.

Lead surged more than 15 percent last week after an
explosion cut output at Doe Run Resources Corp.'s Herculaneum
smelter on July 13. The smelter will resume full production next
month and lost supply is likely to be small, said analysts
including Stephen Briggs at Societe Generale in London.


Read more at Bloomberg Commodities News

Colombia's Peso Strengthens as Central Bank Expected to Boost Lending Rate

(Bloomberg) -- Colombia's peso strengthened before
announcement of a central bank lending rate decision, expected
to push the benchmark borrowing cost to an almost six-year high.

Policy makers in Bogota may boost the overnight interbank
rate a quarter-percentage point to 9.25 percent today, according
to 17 of 31 economists in a Bloomberg survey. The other 14
economists expect the rate to remain unchanged.


Read more at Bloomberg Currencies News

Rwanda's GDP to grow by 7 pct in 2007 - finmin

(Reuters) - Rwanda's economy is expected to grow by 7.0 percent in 2007 compared with 6 percent last year due to improved agricultural production, the country's finance minister said on Friday.

"The second quarter has seen impressive results in agriculture. All these point to a GDP growth of about 7 percent for this year," Finance and Economic Planning Minister James Musoni told Reuters in an interview, adding that the service and industry sectors had also improved.


Read more at Reuters Africa

US STOCKS-Wall St falls as credit worries persist

(Reuters) - NEW YORK, July 27 - U.S. stocks fell on Friday as
investors remained jittery about the worsening climate for
financing corporate takeovers and about subprime mortgage
losses dragging on the economy.




The underlying tone remained cautious on Wall Street a day
after U.S. equities suffered the second worst decline this
year, wiping out more than $300 billion in the S&P 500's
value.


Read more at Reuters.com Bonds News

KfW Sells First Bonds Denominated in Thai Baht to Attract Asian Investors

(Bloomberg) -- KfW Group, the German government-
owned finance agency, sold its first bonds in Thai baht to
attract new investors in Asia.

Deutsche Bank AG arranged the sale of 3 billion baht ($100.8
million) of the three-year bonds to Thai pension funds, insurance
companies and banks, according to a press statement from KfW in
Frankfurt.


Read more at Bloomberg Bonds News

UPDATE 1-Buffett cuts PetroChina stake, sells 17 mln shares

(Reuters) - Buffett's stake in the total company, taking into account
the untradable shares held by PetroChina's parent, China
national Petroleum Corporation, amounts to about 1.29 percent
after the share sale.




Buffett, the world's second-richest person, sold the shares
on July 12 at between HK$12.44 and HK$12.46 each, the HKEX Web
Site showed.


Read more at Reuters.com Mergers News

Baker Hughes seeing some improvement in Canada

(Reuters) - Still, he said while the second half of the year in that
market will be better, it will still be soft compared with the
same period a year earlier.




The company also told analysts that prices are holding up
in most of its U.S. markets.


Read more at Reuters.com Market News

Sepracor results miss, cuts 2007 outlook

(Reuters) - The Marlborough, Massachusetts-based drug company said net profit fell to $6.1 million, or 5 cents a share, from $11 million, or 10 cents a share, a year ago.




Revenue rose 5 percent to $278.1 million. Analysts, on average, expected revenue of $327.2 million.


Read more at Reuters.com Hot Stocks News

Sudan assigns Chinese CNPC offshore oil block

(Reuters) - Sudan has signed a deal with Chinese state oil firm China National Petroleum Corp. (CNPC) to take a majority stake in its Block 13 exploration site, off the coast of the Red Sea, a senior Sudanese oil official said on Friday.

CNPC has a 40 percent stake, 15 percent for both Indonesian state firm and Sudanese state oil firm Sudapet.


Read more at Reuters Africa

Hungarian Forint Poised for Weekly Slide as Investors Flee Riskier Assets

(Bloomberg) -- The Hungarian forint posted its
biggest weekly drop against the euro in 10 months as tumbling
global stocks and concern about U.S. subprime mortgage losses
prompted investors to shun emerging markets.

The forint was the worst performer against the euro over the
past five days, sliding more than 2 percent, as the NTX Index of
stocks in central Europe's 30 largest companies declined the most
in a week since March. Investors reversed trades where they'd
bought the forint to take advantage of Hungary's 7.75 percent
interest rate, also sending the currency tumbling.


Read more at Bloomberg Currencies News

UPDATE 2-Ingersoll-Rand 2nd-quarter profit meets forecast

(Reuters) - NEW YORK, July 27 - Industrial conglomerate Ingersoll-Rand Co. Ltd. , in the midst of remaking its portfolio of businesses, reported higher quarterly profit on Friday, reflecting a large gain from discontinued operations.



The company also disclosed it received a notice from the U.S. Internal Revenue Service, proposing adjustments to its past tax filings, and said it would contest the proposed adjustments.


Read more at Reuters.com Mergers News

Corporate Bond Premiums Soar, Sales Canceled, As Investors Shun Risky Debt

(Bloomberg) -- Japanese corporate bond risk rose to
the highest in more than two years and debt sales faltered
globally as investors shunned all but the safest of debt.

Tyco Electronics Ltd. canceled a bond offering. DAE
Aviation Holdings Inc. scrapped plans for a loan. Credit-default
swaps on Goldman Sachs Group Inc. and Bear Stearns Cos. rose to
records on concerns investment banks will be stuck with high-
yield, high-risk debt that they are unable to sell. The rout
spread to indexes gauging the risk of owning everything from
bank loans to emerging market debt.


Read more at Bloomberg Bonds News

UPDATE 1-Bear Stearns seizes troubled hedge fund's assets

(Reuters) - In a statement on Thursday, Bear Stearns said it "assumed
possession of the assets" securing a $1.3 billion credit
facility provided to the High-Grade Structured Credit
Strategies Fund after the fund was unable to meet a margin
call.




The investment bank said it does not expect any "material
change" in financial exposure as a result of its action. It
said it will continue to pursue an "orderly liquidation" of
assets, and will be in a position to establish appropriate
hedges to protect against future price declines.


Read more at Reuters.com Bonds News

UPDATE 1-Standard Pacific posts quarterly loss

(Reuters) - The company reported a net loss of $165.9 million, or $2.56
a share, compared with a net profit in the year-earlier quarter
of $96.5 million, or $1.44 a share.




Excluding one-time impairment charges, the company said it
earned 35 cents a share.


Read more at Reuters.com Bonds News

McKesson posts profit on strong technology results

(Reuters) - Wall Street analysts on average forecast 71 cents per share,
according to Reuters Estimates.







Read more at Reuters.com Market News

Deckers Outdoor quarterly earnings beat forecast

(Reuters) - Net sales rose 26.4 percent to $52.7 million.




Analysts' consensus view for earnings was 11 cents a share,
before items, on revenue of $49.3 million, according to Reuters
Estimates.



Read more at Reuters.com Market News

RPT-Gap Inc names Glenn Murphy new CEO

(Reuters) - Gap, the largest apparel retailer in the world, has been
searching since January for a new chief executive to lead the
company that has suffered from slumping sales amid intense
competition.




Read more at Reuters.com Market News

Celanese posts second-quarter $117 million loss

(Reuters) - Excluding items, the company posted quarterly earnings of
84 cents a share, up from 71 cents a share, in the year-ago
quarter.




Celanese withdrew its full-year outlook last week and said
it would inform its acetic acid and derivatives customers that
the force majeure at the Texas facility would continue, as
repairs made to the plant had been unsuccessful.


Read more at Reuters.com Market News