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