HK's Li & Fung says eyes HK, U.S. acquisitions

(Reuters) - "We feel very strongly that something will be completed soon," he told Reuters after the firm's annual shareholders' meeting. "That's why we did the bond."

"The majority of it will certainly be used for acquisitions. We see opportunities across all of our businesses. We're looking at Hong Kong and the United States."


Read more at Reuters.com Bonds News

China Retail Sales Rise 15.5 Percent as Incomes Rise, Stock Market Booms

(Bloomberg) -- China's retail sales grew 15.5 percent in April from a year earlier as rising incomes and a stock market boom encouraged the world's most populous nation to spend.

Sales climbed to 667.3 billion yuan ($86.8 billion) after gaining 15.3 percent in March, the National Bureau of Statistics said today. That was the biggest increase since May 2004 if the first two months of each year are combined to eliminate Lunar New Year holiday distortions.


Read more at Bloomberg Emerging Markets News

Fortis, Atlas Copco, Marfin Popular Plan to Sell Debt: European Bond Alert

(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.

Investment-Grade Sales


Read more at Bloomberg Bonds News

Asian Equities Fall on Economic Growth Concern; Fanuc, BHP Billiton Slide

(Bloomberg) -- Asian stocks fell after Japanese machinery orders unexpectedly fell and metals prices slumped.

Fanuc Ltd., the world's largest maker of industrial robots, and BHP Billiton Ltd., the biggest mining company, led declines. Hyundai Heavy Industries Co. dropped on concern costs will increase after Dongkuk Steel Mill Co. said it will raise ship- plate prices.


Read more at Bloomberg Stocks News

U.S. Stocks Drop, Led by Financials on Downgrade; GM Rallies, Lifting Dow

(Bloomberg) -- Bank and brokerage shares tumbled after JPMorgan said interest rates are unlikely to fall this year, sending most U.S. stocks lower and curtailing the Standard & Poor's 500 Index's six-week advance.

Citigroup Inc., the world's biggest bank, and Merrill Lynch & Co., the third-largest U.S. securities firm, led declines. Dell Inc. pushed down the Nasdaq Composite Index on a report the computer maker is too reliant on North American sales, while General Motors Corp., the world's biggest carmaker, carried the Dow Jones Industrial Average to its second straight gain after DaimlerChrysler AG sold its unprofitable U.S. unit.


Read more at Bloomberg Stocks News

Water Rustlers Swoop In as Parched Australian Cities Dry Up Pools, Gardens

(Bloomberg) -- Neil Clarke says he was dumbfounded when thieves made off with thousands of liters of rainwater stored at an athletic field in Brisbane, Australia, last month.

The theft, from a tank at Fortitude Valley Junior Rugby League Club, came as the city tightened water-use curbs in force since 2005. Australia's longest dry spell on record has left only those in the tropical north free to turn on taps to sprinkle gardens, wash cars and hose down the children.


Read more at Bloomberg Exclusive News

Shanghai Copper Futures Fall Limit Amid Speculation China Demand May Slow

(Bloomberg) -- Shanghai copper futures fell for a fourth day, dropping the 4 percent daily limit to the lowest in five weeks amid speculation that demand will slow in China, the world's biggest consumer of the metal. Zinc was also limit down.

Inventories monitored by the Shanghai Futures Exchange increased 26 percent to 85,269 metric tons last week, the highest since May 2004, the exchange said May 11. Shanghai copper prices, which have gained 10 percent this year, are headed for their biggest four-day decline since January.


Read more at Bloomberg Commodities News