German Economy Expanded 0.5 Percent, More Than Forecast, in First Quarter

(Bloomberg) -- The German economy, Europe's largest, expanded more than economists expected in the first quarter even as a sales-tax increase damped consumer spending.

Gross domestic product grew 0.5 percent in the three months through March from the previous quarter, when it expanded a revised 1 percent, the Federal Statistics office in Wiesbaden said today. Economists expected growth of 0.3 percent, according to the median of 41 estimates in a Bloomberg News survey.


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Asia shares retreat as U.S. economy fears return

(Reuters) - The yen matched a three-month low against the dollar on the

weak machinery orders, a barometer of corporate capital spending, which underscored expectations the Bank of Japan will raise interest rates only gradually. But the softer currency offered support to high-tech exporters.


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D.Post says Q1 operating profit rises 8.7 pct

(Reuters) - The average forecast in a Reuters poll of 14 analysts was for EBIT of 917 million euros, with estimates ranging from 824 million to 1.01 billion.

The company reiterated its forecast that full-year earnings excluding one-off items would reach at least 3.6 billion euros, compared with 3.51 billion last year. Group EBIT including one-off items last year was 3.87 billion euros.


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Thomson set to buy Reuters for 8.7 bln pounds -WSJ

(Reuters) - The Journal cited unnamed sources as saying the companies were confident that the combination will ultimately be approved by regulators.

The deal took shape under parameters outlined by the companies last week, the Journal said.


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Slovak Koruna's Euro-Entry Level May Be Raised by 5%, Morgan Stanley Says

(Bloomberg) -- Slovakia's currency may extend gains against the euro in the coming year, forcing the country to lift the agreed level at which it will join the common European currency by about 5 percent, according to Morgan Stanley.

The koruna has risen versus 15 of the 16 major currencies tracked by Bloomberg in the past 12 months, climbing 11 percent versus the euro, as economic growth has surged. The gains will continue, forcing the country to raise the level at which it will join the euro in 2009, Pasquale Diana, Morgan Stanley's Central Europe economist wrote in a note to clients.


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S.Africa's Eskom to issue bonds of 250 mln rand

(Reuters) - South Africa's electricity utility Eskom will issue up to 250 million rand worth of ES26 bonds on May 16, the company said on Monday.

Eskom, which is planning massive investment to boost tight power capacity in Africa's biggest economy, said the bond's bidding methodology would be on a spread basis to the government's R186 bond due 2026.


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Pamodzi Gold aims to boost output to 1 mln oz

(Reuters) - South African junior miner Pamodzi Gold Ltd posted a dip in quarterly gold output and a loss on Monday, but said it aims to boost production to 1 million ounces within two years.

The black-owned firm, which listed on the Johannesburg bourse in December, said gold production for the three months to end March fell 21 percent to 23,735 ounces compared to the previous quarter.


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