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