U.S. Hiring Probably Picked Up in May Signaling Rebound in Economic Growth

(Bloomberg) -- Employers in the U.S. increased
hiring last month, signaling the economy is rebounding from the
weakest growth in four years.

The projected 134,000 increase in payrolls is based on the
median estimate of 84 economists surveyed by Bloomberg News and
would follow a 88,000 gain in April that was the smallest since
November 2004. The jobless rate is forecast to hold at 4.5
percent for a second month.


Read more at Bloomberg Bonds News

Proton Shares Slump After Volkswagen Talks Fail, Company Posts Annual Loss

(Bloomberg) -- Shares of Proton Holdings Bhd.,
Malaysia's biggest automaker, fell after the government said
Volkswagen AG dropped plans to buy a stake and the Southeast
Asian carmaker posted its first annual loss in at least 17 years.

Proton stock, down 20 percent this year, fell as much as
3.7 percent in Kuala Lumpur today after the state-run automaker
yesterday reported a loss of 591.4 million ringgit ($174
million) for the 12 months ended March 31. Volkswagen, Europe's
biggest automaker, no longer wants a stake in Proton, Malaysia's
Second Finance Minister Nor Mohamed Yakcop told reporters today.


Read more at Bloomberg Emerging Markets News

Australian Government Report Recommends Carbon Trading System, Howard Says

(Bloomberg) -- An Australian government report has
recommended the nation introduce a carbon emissions trading
system to combat climate change, Prime Minister John Howard said.

``Australia cannot wait for a coordinated global
response,'' Howard said in a statement today. ``The government's
response to this report will be measured and balanced but will
ensure Australia plays her part in tackling climate change.''


Read more at Bloomberg Commodities News

Asian stocks shine, dollar subdued before U.S. data

(Reuters) - The strength in equity markets weighed on fixed income assets, dragging Japanese government bonds lower, while the dollar hovered below a three-month high against the yen ahead of closely watched U.S. payroll data later on Friday.




London Brent crude oil held above $68 a barrel after snapping a four-day losing streak when data showed U.S. crude inventories fell last week, while gold extended its rebound to a 1-1/2-week high of $663 an ounce.


Read more at Reuters.com Hot Stocks News

UBS May Manage Its First Yuan Share Sale With Western Mining IPO in China

(Bloomberg) -- UBS AG's Chinese securities venture
will arrange its first share sale in the world's fastest-growing
stock market after Western Mining Co. wins regulatory approval
for a Shanghai initial public offering.

Getting the go-ahead from the China Securities Regulatory
Commission at a hearing on June 5 will allow Zurich-based UBS to
join Goldman Sachs Group Inc. as the only global investment
banks that can arrange share sales in China. Foreign firms can
only underwrite yuan stock sales through local ventures.


Read more at Bloomberg Emerging Markets News

Australian and New Zealand Dollars Surge Against Yen on Yield Advantage

(Bloomberg) -- The Australian and New Zealand dollars
surged to the highest in more than 15 years against the yen as
traders were attracted to the higher returns on investments.

New Zealand's dollar was this week's biggest gainer versus
the yen among the 16 most-traded currencies, with Australia's
third, as signs of a stronger U.S. economy and rising global
equity markets encouraged investors to take on more risk. Traders
increased so-called carry trades, where they borrow in countries
with lower interest rates to fund higher-yielding investments.


Read more at Bloomberg Currencies News

UPDATE 1-Mexico's finmin has no precise date for tax plan

(Reuters) - CHICAGO, May 31 - Mexican Finance Minister
Agustin Carstens said on Thursday there is no precise date for
presenting the government's keenly awaited tax reform proposals
to Congress.




"There's a lot of dialogue," Carstens told reporters after
a speech in Chicago. "So far it has been a respectful,
constructive dialogue."


Read more at Reuters.com Bonds News

Bancrofts say they will consider News Corp. bid

(Reuters) - The family also "intends to meet with News Corporation to determine whether, in the context of the current or any modified News Corporation proposal, it will be possible to ensure the level of commitment to editorial independence, integrity and journalistic freedom that is the hallmark of Dow Jones."




Read more at Reuters.com Mergers News

Bancrofts to discuss Dow Jones bid with News Corp.: WSJ

(Reuters) - The Wall Street Journal is owned by Dow Jones.




Read more at Reuters.com Business News

Patterson-UTI Energy says court OK's plan of distribution

(Reuters) - The Snyder, Texas-based company said it will recover about
$40 million according to the approved plan. The company expects
the receiver will distribute substantially all of the amounts
recovered to it within 60 days.





Read more at Reuters.com Government Filings News

UPDATE 2-Brocade posts sharply lower 2nd-quarter profit

(Reuters) - Brocade also issued a forecast for the current quarter that
was largely in line with analysts' estimates.




Chief Executive Michael Klayko said on a conference call
that demand was good across all three of its segments, and that
the integration of McData was well ahead of schedule. This was
the first quarter of combined operations since the $973 million
deal closed in January.


Read more at Reuters.com Government Filings News

FACTBOX-SEC allegations detailed in Mercury, Brocade cases

(Reuters) - SEC ALLEGATIONS IN MERCURY CASE




- Four former company officers schemed over eight years
from 1997 to give themselves and others secret pay by
backdating stock options.


Read more at Reuters.com Government Filings News

UPDATE 1-Harris Corp. to buy private Multimax for $400 mln

(Reuters) - Harris also said it now sees fiscal 2007 earnings to be at
the lower end of its previous forecast of $2.77 to $2.81 a
share due to reserves expected in the current quarter from one
of its segments from schedule and cost overruns on a fixed
price satellite deployable mesh reflector program.




Analysts are expecting the company to earn $2.80, before
items, for fiscal 2007, according to Reuters Estimates.


Read more at Reuters.com Mergers News

US CREDIT-Abitibi, Bowater spread gap may be opportunity

(Reuters) - The cost to protect Canadian firm Abitibi's bonds with
credit default swaps rose roughly 18 basis points on Thursday
to around 625 basis points, which means it costs $625,000
annually to insure $10 million of debt for five years,
according to market participants.




That's roughly $130,000 more than the credit protection
costs for U.S. newsprint and specialty paper maker Bowater,
which are around $495,000.


Read more at Reuters.com Bonds News

Buffett talk fuels interest in Kraft Foods calls

(Reuters) - "There are rumors circulating this week that ... Berkshire
Hathaway may be building a stake in food-maker Kraft Foods,"
said Andrew Wilkinson, senior market analyst at Interactive
Brokers Group. "We're unsure of the foundation of this rumor."




Shares of Kraft, known for brands including Maxwell House,
Nabisco and Oscar Mayer, trade at about 18.7 times next year's
estimated earnings. They edged up 15 cents, or 0.45 percent, to
close at $33.84 on the New York Stock Exchange.


Read more at Reuters.com Business News

Argentina stocks hit new record, bonds end mixed

(Reuters) - The MerVal index of 16 leading stocks finished up
0.93 percent to 2,243.03 points. Trade volume on the broad
market in Buenos Aires was a bulky $58.5 million, the heaviest
since Feb. 8 when it topped $79 million.




"What stood out was a very good trade volume accompanied by
a dose of very selective buying, with interest in those issues
that have been long undervalued," said Juan Diedrich, a trader
at Capital Markets Argentina.


Read more at Reuters.com Bonds News

U.S. Technology Stocks Rally on Profits; Ciena, Novell Shares Lead Advance

(Bloomberg) -- Technology shares rallied on better-
than-expected earnings, helping the U.S. stock market complete
its best May since 2003 and sending the Standard & Poor's 500
Index to a second straight record.

Ciena Corp. and Novell Inc. led the advance after first-
quarter earnings topped some analysts' forecasts. A.G. Edwards
Inc. rose the most in two decades after Wachovia Corp. said it
will buy the company for about $6.8 billion, the biggest
acquisition of a U.S. brokerage firm in almost seven years.


Read more at Bloomberg Stocks News

GLOBAL MARKETS-Dollar up, bonds down on Chicago-area data

(Reuters) - NEW YORK, May 31 - The dollar rose to three-month
highs against the yen and ultra-safe U.S. government bond
prices fell on Thursday after a report showed solid business
activity in the U.S. Midwest, improving the outlook for the
economy.




The report on Chicago-area manufacturing in May, which
showed a revival at U.S. factories following a sluggish start
to the year, helped to push up the yield on the benchmark
10-year Treasury note to the highest since August 2006.


Read more at Reuters.com Bonds News

UPDATE 1-Romania rate cuts premature, increase needed-IMF

(Reuters) - "Given the need to firmly anchor inflationary expectations
and the credibility of the inflation targeting framework,
directors considered the recent interest rate cuts to be
premature," the IMF said in its 2007 economic review of the
Romanian economy.




"They urged the authorities to increase interest rates as
needed to attain the inflation targets," the IMF added.


Read more at Reuters.com Bonds News

Italy regional banks, Fondiaria in insurance deal

(Reuters) - Pop Verona will transfer a 50 percent stake of its
insurance branch BPV Vita to Fondiaria for 530 million euros
. It expects a capital gain of 470 million euros
from the transaction.




The banks, who said they were advised by Credit Suisse on
the deal, said BPV Vita would have a distribution network of
about 2,200 branches, with a target of 6 billion euros in
annual premium income.


Read more at Reuters.com Mergers News

UPDATE 1-N.J. court certifies class-action against Wal-Mart

(Reuters) - In a 5-1 ruling, the state's highest court revived a
lawsuit by about 72,000 current and former New Jersey employees
who had previously been denied class-action status by trial and
appellate courts.




The court said it certified the status because "common
questions of law and fact predominate over individualized
questions" and class-action is the most effective way to settle
the matter.


Read more at Reuters.com Bonds News

Sugar Is Little Changed in New York Amid Rising Demand for Prompt Delivery

(Bloomberg) -- Sugar futures in New York were little
changed as delays in harvesting in Brazil, the biggest producer,
led to short-term tightness in supplies before the development
of a surplus expected later this year.

The price of the sweetener for prompt delivery is
8.3 percent higher than a month ago. The harvest in Brazil is
about two weeks behind because mills face a shortage of parts
and rain halted work for as many as six days, according to a
report today by Fimat USA LLC in New York.


Read more at Bloomberg Commodities News

Appeals court denies bid to halt Western Refining-Giant link

(Reuters) - The FTC had charged that the proposed acquisition would reduce
competition for the supply of gasoline, diesel fuel and jet fuel
in northern New Mexico.




Read more at Reuters.com Mergers News

N.J. court certifies class-action against Wal-Mart

(Reuters) - The court said it certified the status because "common questions of law and fact predominate over individualized questions" and class-action is the most effective way to settle the matter.




According to the lawsuit, the employees contend the world's largest retailer failed to compensate them for all time worked by forcing them "to work through meal breaks, locking employees in retail stores after they had clocked out, and by coercing employees to work off the clock."


Read more at Reuters.com Bonds News

Rand firms as rate hike chances rise

(Reuters) - The rand was slightly firmer against the dollar late on Thursday after fluctuating for much of the session, with gains seen in coming days as local economic data buoyed expectations of an interest rate rise.

At 1505 GMT the South African unit was at 7.1225/dollar, up 0.31 percent from New York's close of 7.1450.


Read more at Reuters Africa

Argentina wants OECD aid on Paris Club debt -media

(Reuters) - Argentina's secretary for economic policy, Oscar Tangelson,
told reporters the government had discussed this possibility at
an OECD meeting in Paris last week.




"It appears that there are good conditions for this to come
about," Tangelson was quoted as saying by leading daily
newspaper La Nacion.


Read more at Reuters.com Bonds News

Texas Instruments says Q2 improvements on track

(Reuters) - "I think you're going to find things tracking pretty much in line with that," Templeton told a Cowen & Co technology investment conference.




Texas Instruments is scheduled to release its mid-quarter update on June 11.


Read more at Reuters.com Business News

InBev Jumps on Speculation of Merger With U.S. Beermaker Anheuser-Busch

(Bloomberg) -- Shares of InBev NV, the world's largest
brewer by sales, rose almost 5 percent on speculation the company
may merge with Budweiser maker Anheuser-Busch Cos. or sell real
estate in Belgium and the Netherlands.

``The name of Bud has been mentioned once again,'' said Andrew
French, a sales trader at E*Trade Securities in London. A merger
would help Anheuser-Busch ``to fast-track its growth.''


Read more at Bloomberg Stocks News

Man Group's MF Global unit files for $1 bln IPO

(Reuters) - Citigroup, JPMorgan, Lehman Brothers, Merrill Lynch & Co.
and UBS Investment Bank are underwriting the IPO, and the
company has applied to list its shares on the New York Stock
Exchange under the ticker symbol "MF," it said.





Read more at Reuters.com Government Filings News

UPDATE 1-Citigroup becomes latest BATS Trading stakeholder

(Reuters) - Citi said that it was one of several banks that
participated in the latest round of funding for BATS, which
raised a total of $45 million for the closely held rival to
traditional stock exchanges. Financial terms of Citi's
investment were not disclosed.




BATS, which lately has gained market share on some larger
exchanges, is one of a series of alternative trading venues
that have attracted growing levels of interest and investment
from securities firms.


Read more at Reuters.com Mergers News

Wachovia CEO sees no big bank mergers for a while

(Reuters) - "We like the U-shaped footprint we've got. That's where we'll be focusing on the banking side," Thompson said on a conference call. "Small deals in the Southwest and West would be possibilities, but I don't think you'll see us doing anything significant from a merger standpoint from a while."




Read more at Reuters.com Bonds News

IBM, ASML payouts latest red flags for credit market

(Reuters) - Share buybacks, big dividend payments and a tidal wave of
merger and acquisition activity -- set this year to beat the
record level reached in 2006 -- all pose threats to company
creditworthiness.




But the corporate debt market in Europe has yet to react,
with yield spreads at their tightest in at least two years,
according to data from Merrill Lynch, and new bond issues being
snapped up voraciously -- although investors and analysts warn
that this rosy view of the world cannot persist.


Read more at Reuters.com Bonds News

HSBC to Sell Bonds Made of Subprime Mortgages From New Century Financial

(Bloomberg) -- HSBC Holdings Plc plans to sell bonds
backed by some of the last subprime mortgages made by bankrupt
New Century Financial Corp., once its biggest rival in the
business.

The $1 billion of subprime home loans made by New Century
of Irvine, California, that HSBC plans to package and sell as
securities on June 5 have an average age of about three months,
Fitch Ratings said in a May 29 report. New Century, whose $51.6
billion in lending last year to borrowers with poor credit
records or high debt was topped only by London-based HSBC,
stopped taking loan applications in March.


Read more at Bloomberg Bonds News

WRAPUP 1-U.S. first-quarter growth weakest in over 4 years

(Reuters) - The Commerce Department revised down its estimate for
first-quarter expansion in gross domestic product, or GDP, to
0.6 percent from 1.3 percent that it estimated a month ago.




It was the slowest rate of quarterly growth since the
fourth quarter of 2002 when the economy edged ahead at a 0.2
percent rate and was below Wall Street economists' forecasts
for a 0.8 percent quarterly growth rate.


Read more at Reuters.com Economic News

U.S. Stocks Rise on Takeovers; A.G. Edwards, Ceridian Shares Lead Advance

(Bloomberg) -- U.S. stocks extended their record-
breaking rally after A.G. Edwards Inc. and Ceridian Corp. agreed
to be acquired, adding to this year's unprecedented pace of
takeovers.

A.G. Edwards rose to an all-time high after Wachovia Corp.
agreed to buy the company for about $6.84 billion in cash and
stock in the biggest acquisition of a U.S. brokerage firm in
almost seven years. Ceridian advanced to a six-year peak after
Thomas H. Lee Partners LP and Fidelity National Financial Inc.
purchased the provider of payroll and human resources services
for $5.3 billion.


Read more at Bloomberg Stocks News

South African Annual Credit Growth Unexpectedly Accelerates to 25 Percent

(Bloomberg) -- South African credit growth
unexpectedly accelerated to an annual 25.1 percent in April,
adding to pressure on inflation and increasing the likelihood the
central bank will raise interest rates next week.

Growth in borrowing by households and companies accelerated
from 24.2 percent in March, the Pretoria-based central bank said
on its Web site today. Credit was expected to rise 24 percent,
according to the median estimate of 10 economists surveyed by
Bloomberg.


Read more at Bloomberg Emerging Markets News

Malaysia Palm Oil Prices Rise Most in a Month to Record Close on Exports

(Bloomberg) -- Palm oil futures in Malaysia rose the
most in a month to a record close after reports showing Malaysian
exports increased in May, with Chinese demand undeterred by
higher prices.

Bulk palm oil shipments through Malaysian sea ports gained
4.7 percent to 1.18 million metric tons in May, from 1.13 million
tons last month, Societe Generale de Surveillance estimated today.


Read more at Bloomberg Commodities News

Wyeth, Progenics say FDA to review constipation drug filing

(Reuters) - The acceptance would result in a $5 million milestone
payment to Progenics by Wyeth, the statement said.





Read more at Reuters.com Government Filings News

Buy Put Options on Japan's Government Bond Futures, Daiwa Institute Says

(Bloomberg) -- Investors should buy put options on
Japan's bond futures, betting the securities will decline on
speculation the central bank will raise interest rates, said
Daiwa Institute of Research Ltd.

Ten-year bond futures may drop below the lowest since
August by the end of next month, said Takeo Okuhara, a fixed-
income strategist in Tokyo at Daiwa Institute, a unit of Japan's
second-largest brokerage. Bond futures fell today as Bank of
Japan policy board member Kiyohiko Nishimura said the bank is
aware of risks that keeping borrowing costs low may lead to
inefficient investment and financial market distortions.


Read more at Bloomberg Bonds News

U.S. Notes Are Little Changed as Monthly Rebalancing May Boost Treasuries

(Bloomberg) -- U.S. Treasuries were little changed
with benchmark 10-year note yields near their highest levels of
the year amid signs the economy is rebounding from a first-
quarter slowdown.

Traders pared bets the Federal Reserve will cut interest
rates this year as stock-index futures indicated U.S. equities
may extend an advance that yesterday pushed the Standard & Poor's
500 Index to a record. Treasuries may benefit later today from
the monthly rebalancing of bond indexes to include securities
issued during the month.


Read more at Bloomberg Bonds News

Russia's MTS Q1 net $448.6 mln, above market expectations

(Reuters) - The figure was a 143.3 percent rise versus the same quarter of 2006, and also a four-fold increase in comparison with a revised fourth-quarter net profit of $110.3 million.



MTS said earlier on Thursday it had restated its 2006 results to reflect a $170 million provision for the potential costs of a deal in ex-Soviet Kyrgyzstan [nL31272615].


Read more at Reuters.com Market News

Ciena posts profit on higher Web bandwidth demand

(Reuters) - Net profit for Ciena's fiscal second quarter, ended April 30, was $13 million, or 14 cents per share, compared with a loss of $1.9 million, or 2 cents per share, a year earlier.




Sales rose to $193.5 million from $131.2 million in the year-ago quarter.


Read more at Reuters.com Hot Stocks News

Carlsberg to set up JV in western China: partner

(Reuters) - The Danish brewer, which owns 30 percent of the joint venture, confirmed the plan but denied it had agreed with its Chinese partner about the size of the investment.




"There's a dialogue going on with local authorities and the final size, timing and location are to be confirmed," said Hong Kong-based executive Soren Ravn, who is in charge of Carlsberg's business development in Greater China.


Read more at Reuters.com Mergers News

Swiss Franc Holds Near Two-Week High Versus Dollar as GDP Growth Quickens

(Bloomberg) -- The Swiss franc traded near its
highest in two weeks against the dollar after a report showed
first-quarter growth in the Swiss economy quickened faster than
estimated.

Switzerland's currency yesterday touched the highest versus
the euro in more than two weeks as falling global stocks caused
investors to dump riskier assets. A report today showed gross
domestic product in the Alpine economy rose 0.8 percent from the
fourth quarter. Economists surveyed by Bloomberg News had
expected 0.6 percent growth.


Read more at Bloomberg Currencies News

S.Africa's Eskom to issue 350 mln rand of bonds

(Reuters) - South Africa's electricity utility Eskom will issue up to 350 million rand worth of ES26 bonds on June 4, the company said on Thursday.

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.


Read more at Reuters Africa

E.ON Shares Jump After German Utility Announces EU7 Billion Share Buyback

(Bloomberg) -- E.ON AG, Germany's biggest utility,
plans to build 18 new power plants in Europe as part of a 60
billion-euro ($81 billion) investment plan to satisfy growing
demand for electricity.

The new generators will increase capacity in five years by
13,500 megawatts, enough to supply about 27 million average
European homes, as the region's markets open to competition,
E.ON Chief Executive Officer Wulf Bernotat said today at a press
conference in Dusseldorf, where the company is based.


Read more at Bloomberg Stocks News

EDF, EnBW Reach Deal to Store Natural Gas in Etzel Salt Caverns in Germany

(Bloomberg) -- Electricite de France SA, Europe's
largest power supplier, and Energie Baden-Wuerttemberg AG have
reached an agreement with a German property company for long-term
storage of natural gas in underground salt caverns at Etzel, near
the North Sea.

EDF and EnBW, Germany's third-largest utility, each signed an
agreement with IVG Immobilien AG for access to the salt caverns,
which have a storage capacity of 400 million cubic meters, for 35
years, EDF said in an e-mailed statement.


Read more at Bloomberg Energy News

U.S. attracts bulk of Gulf oil windfall surplus-IIF

(Reuters) - The Institute of International Finance estimated total
export earnings of the six states of the Gulf Cooperation
Council -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and
the United Arab Emirates -- were more than $1.5 trillion in 2002
to 2006.




"About $1 trillion went towards imports. The remainder of
the earnings -- some $542 billion -- represented surplus funds
that entered global capital markets and contributed to an
increase in GCC foreign asset holdings," it said.


Read more at Reuters.com Bonds News

S&P to roll out recovery ratings, upgrades likely

(Reuters) - Standard & Poor's plans to roll out the first stage of a new rating system with more information on recovery prospects next week, a move that may result in hundreds of junk bond and loan rating upgrades, the rating agency said on Wednesday.

Recoveries are the amounts debt investors receive if an issuer defaults. S&P's recovery rating changes were first announced last October.


Read more at Reuters Africa

Europe shares hit 6-1/2 yr high as E.ON, ASML star

(Reuters) - European shares tracked Asian and U.S. stocks higher early on Thursday to hit fresh six-and-a-half year highs, with German utility E.ON and Dutch chip equipment maker ASML buoyed by plans to return money to shareholders.

At 0756 GMT, the FTSEurofirst 300 index of top European shares was up 0.6 percent at 1,609.41 points, with shares on Germany's DAX outperforming peers in Britain and France with a 1-percent increase.


Read more at Reuters Africa

Fed May Keep Rate Unchanged as Housing, Prices Pull in Opposite Directions

(Bloomberg) -- Federal Reserve Chairman Ben S.
Bernanke is pulled in opposite directions by worries over
inflation and housing, leaving him little choice other than to
keep interest rates unchanged.

Fed officials said they still expect a pickup in the
economy this year and view inflation as their main concern,
minutes of their May 9 meeting showed yesterday. They listed
several caveats, including the risk that the housing recession
may ``weigh heavily'' on growth.


Read more at Bloomberg Currencies News

Coca-Cola stops funding animal testing: PETA

(Reuters) - Coke does not conduct animal tests and does not directly fund animal tests on its beverages, and is asking its partners and research organizations to use alternatives to animal testing, the company said in a letter provided by PETA.




"Pepsi's announcement helped to spur Coke along," said Bruce Friedrich, a vice president of PETA. Coca-Cola could not immediately be reached for comment.


Read more at Reuters.com Business News

Dow Jones shareholder sees $60 bid attractive - FT

(Reuters) - "The offer to purchase Dow Jones at $60 in our view represents a fairly attractive transaction price. I find it hard to believe the company itself has a plan to get the shares to $60," the Financial Times quoted Brian Rogers, the chairman and chief investment officer of T. Rowe Price saying. The firm holds about 15 percent of Dow Jones according to Reuters data.




A spokesman for T. Rowe told Reuters: "We've said all along that as long-term investors in Dow Jones stock we're gratified that other investors have recognized the value that we always thought was there. We think it is a reasonable offer to take under consideration."


Read more at Reuters.com Mergers News

US STOCKS-S&P 500 hits record finish as Wall St rallies

(Reuters) - NEW YORK, May 30 - The Standard & Poor's 500
closed at its first record high in seven years on Wednesday
after minutes from the Federal Reserve's latest meeting
reassured investors about the economy's health.




Amid a broad-based rally in the U.S. stock market, the Dow
industrials set another record high, too, bringing a
resounding end to a global equities sell-off sparked by a
plunge in China's benchmark share index.


Read more at Reuters.com Bonds News

US says Bristol to pay $1 mln fine in Plavix case

(Reuters) - The fine resolves a two-count criminal charge filed by the department in federal court, which alleges that Bristol-Myers illegally concealed a patent settlement deal it had reached with Canadian drug maker Apotex Inc.



The patent settlement at issue would have delayed generic competition to Plavix, but it collapsed.


Read more at Reuters.com Government Filings News

UPDATE 1-Chico's 1st-quarter profit tops view

(Reuters) - The operator of the Chico's and White House Black Market
chains said net income for the first quarter was $47.2 million,
or 27 cents per share, compared with $52.5 million, or 29 cents
per share, a year ago.




Income from continuing operations was 28 cents per share.


Read more at Reuters.com Market News

Grupo Mexico shares $129 mln profits with workers

(Reuters) - "Our workers are receiving in some cases profits equivalent
to more than 3 years of work," Garcia said in a statement.




Workers at Cananea received more than $30,000 each and
workers at La Caridad mine received more than $10,000 each.


Read more at Reuters.com Market News

Treasuries Are Little Changed as Stock Indexes Reverse Losses in the U.S.

(Bloomberg) -- Treasuries were little changed,
erasing gains, as U.S. stock indexes reversed declines and
increased.

The benchmark 10-year note rose earlier when investors
sought the relative safety of government debt. A slump in Asian
and European stocks was triggered when China tripled a tax on
securities transactions to help slow investment.


Read more at Bloomberg Bonds News

Joy Global, Pennsylvania REIT, Portfolio, Biogen Idec: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 2:40 p.m. New York time.

Biogen Idec Inc. (BIIB US) rose $2.80, or 5.7 percent, to
$52.01 and traded as high as $52.26. The maker of the multiple
sclerosis drug Tysabri began accepting bids in a buyback of as
much as $3 billion in shares. The buyback, which will give Biogen
an additional 16 percent of its 342.6 million shares outstanding,
will be funded by cash and borrowings, Biogen said. The company
will pay stockholders between $47 and $53 a share in the so-
called Dutch Auction.


Read more at Bloomberg Stocks News

Perrigo gets FDA approval to market coated fruit nicotine gum

(Reuters) - Perrigo said the product will be marketed under store brand
labels and is comparable to GlaxoSmithKline's Nicorette Fruit
Chill coated gum.





Read more at Reuters.com Government Filings News

U.S. Stocks Rise on Buyout Speculation; Simon Property, Exxon Lead Advance

(Bloomberg) -- U.S. stocks advanced for a third day
on buyout speculation in the real-estate industry and a jump in
oil prices that lifted shares of energy producers.

Simon Property Group, the largest U.S. real estate
investment trust, climbed after Deutsche Bank AG upgraded its
shares and seven other companies in the industry following the
$13.5 billion buyout of Archstone-Smith Trust. Energy shares,
led by Exxon Mobil Corp., contributed the most to the gain in
the Standard & Poor's 500 Index.


Read more at Bloomberg Stocks News

Mexico's Peso, 10-Year Bonds Advance on Inflation, Anticipated Tax Reform

(Bloomberg) -- Mexico's 10-year bond rose, pushing
yields to a one-month low, and the currency strengthened as
expectations of slower inflation boosted the attractiveness of
peso-denominated assets.

Yields on the bond due in December 2016 have declined 25
basis points, or 0.25 percentage point, in the past four trading
days following a report that showed a bigger-than-expected drop
in consumer prices in the first half of May. Expectations
President Felipe Calderon will send to Congress a plan to re-
write the country's tax code in the coming days also aided
Mexican assets.


Read more at Bloomberg Currencies News

Wheat Surges as Great Plains Rain Hurt U.S. Crops and Slowed the Harvest

(Bloomberg) -- Wheat prices in Chicago and Kansas
City rose after a government report showed rains in the Great
Plains damaged crops and slowed harvesting.

About 57 percent of the winter-wheat crop was rated good or
excellent as of May 27, compared with 59 percent a week earlier,
the Department of Agriculture said yesterday. Fields from Texas
to Nebraska got as much as four times the normal amount of rain
in the past 30 days, causing plants to fall and making soil too
wet for heavy machinery.


Read more at Bloomberg Commodities News

Four People Perish in Fire Aboard Oil-Product Tanker Off Coast of Nigeria

(Bloomberg) -- Four people died and three others are
missing after a fire aboard a tanker carrying refined oils off
the coast of Nigeria, the U.K. coastguard said.

The bodies of the dead were recovered from the vessel and
22 crew rescued following the incident yesterday, the U.K.
Maritime and Coastguard Agency said on its Web site today.


Read more at Bloomberg Energy News

Home loan demand off as rates hit 7-month high

(Reuters) - The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes requests for both refinancing and purchasing loans, for the week ended May 25 dropped 7.3 percent to 636.4.




Applications, however, were 17.4 percent above a year ago. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was down 0.8 percent.


Read more at Reuters.com Bonds News

Barclays settles insider trading charges

(Reuters) - In court documents filed in New York, the SEC alleged that Barclays and Steven Landzberg, the former head proprietary trader for Barclays' U.S. distressed debt desk, illegally traded millions of dollars of bond securities between March 2002 and September 2003, based on material, nonpublic information received through bankruptcy creditor committees.




Barclays and Landzberg agreed to the settlements without admitting or denying the allegations, the SEC said.


Read more at Reuters.com Government Filings News

UPDATE 2-Energy prices boost Canada Q1 current acct surplus

(Reuters) - OTTAWA, May 30 - High prices for energy exports
helped boost Canada's current account surplus in the first
quarter to its highest level in a year, another sign that the
economy is expanding faster than expected.




The current account surplus -- which encompasses trade in
goods and services as well as transfers and investment income
-- bulged to C$6.49 billion in the first
quarter from C$4.62 billion in the fourth quarter, according to
revised figures released by Statistics Canada on Wednesday.


Read more at Reuters.com Economic News

Bonn-Berlin `Traveling Circus' May Run Out of Steam as Germany Cuts Costs

(Bloomberg) -- If Horst Mertens is ever overwhelmed
by the pressures of the 300-mile commute from his home in Bonn to
a government job in Berlin, taxpayers will cover the therapy.

Mertens, a scientist at Germany's Health Ministry, is one of
about 5,000 state employees who still flit between the two
cities, eight years after the capital moved to Berlin. To soften
the blow, workers can get housing and travel subsidies, as well
as counseling, under what Mertens describes as ``a traveling
circus for civil servants.''


Read more at Bloomberg Exclusive News

Japan life insurers cut foreign debt holdings in 06/07

(Reuters) - At the same time, many of the insurers raised their yen bond
holdings in the 12 months to March, earnings statements showed,
even as Japanese government bond yields stayed low despite two
rate rises by the Bank of Japan to 0.5 percent.




Japan's top nine insurers held a total of around 14.5
trillion yen in foreign bonds at the end of
March this year, down a bit from 15.2 trillion yen in March last
year.


Read more at Reuters.com Bonds News

Freddie Mac sells $1.0 billion in bills

(Reuters) - Settlement is May 31.




The sale was part of Freddie Mac's weekly bill auction. On
Tuesday, Freddie Mac sold $2.0 billion of three-month bills due
Aug. 27, 2007, $2.0 billion of six-month bills due Nov. 26,
2007 and $1.0 billion of 12-month bills due May 27, 2008.


Read more at Reuters.com Bonds News

Japan's Shares Fall on Concern China Slump Will Spread; Toyota Leads Drop

(Bloomberg) -- Japanese stocks fell on concern a
plunge by Chinese stocks, triggered by a tripling of the tax on
securities transactions on the mainland, will spread to equities
throughout Asia.

Chugai Pharmaceutical Co. fell the most since January 2003
after saying the price of its cancer drug will be about 40
percent less in Japan than the U.S. Toyota Motor Corp. declined
for the first time in three days.


Read more at Bloomberg Stocks News

Canadian Stocks Rise, Led by Energy and Material Producers; Talisman Gains

(Bloomberg) -- Canadian stocks rose as energy producers
climbed with oil and natural gas prices on speculation that an
expected increase in gasoline stockpiles won't be large enough to
reduce a supply deficit.

Talisman Energy Inc., an oil and natural gas producer, led a
gauge of energy companies, adding 40 cents to C$21.84. EnCana
Corp., the country's biggest gas producer, rose 99 cents to
C$65.48.


Read more at Bloomberg Stocks News

Kenya Airways 2006/07 profit falls 15 pct

(Reuters) - Net profits at Kenya Airways fell 14.6 percent to 4.1 billion shillings last year because of high fuel prices and a strong local currency, the company said on Wednesday.

The airline, which lost a Boeing 737-800 in Cameroon in early May, when it crashed into a swamp and killed 114 people on board, said revenues rose 11.3 percent to 58.8 billion shillings in the year ended March 31 from 52.8 billion in the previous year.


Read more at Reuters Africa

Oil above $68 after new attack in Nigeria

(Reuters) - Oil was steady above $68 on Wednesday after a new attack on a Nigerian pipeline illustrated the uphill task the new president faces to restore lost output in the world's eighth biggest crude exporter.

Energy appeared immune to a 6.5 percent drop in China's main stock index that buffeted other Asian and European markets.


Read more at Reuters Africa

S.Africa public servants set to strike June 1

(Reuters) - South Africa's COSATU labour federation said on Wednesday it was ready to lead a national public servants strike, as the government announced it had made a "major breakthrough" with a new wage offer.

COSATU, which represents about 60 percent of the nation's nearly one million public servants, said it had made no progress in last-minute talks with the government over a new wage deal and was preparing for a massive strike on June 1.


Read more at Reuters Africa

Dollar Tree reports higher first-quarter profit

(Reuters) - The retailer earned $38.1 million, or 38 cents per share, for its fiscal first quarter ended May 5, up from $32.9 million, or 31 cents per share, a year earlier.



) Keywords: DOLLARTREE RESULTS/


Read more at Reuters.com Market News

Polish Zloty Falls to Six-Week Low Against Euro on Slide in Global Stocks

(Bloomberg) -- The Polish zloty fell to the lowest in
more than six weeks against the euro as emerging-market stocks
declined around the world, and the country's central bank kept
interest rates at their current level.

Expectations the central bank will raise interest rates this
year to stem inflation helped the zloty advance to an almost five
month high on May 10. The currency is the third-worst performer
among 72 currencies tracked by Bloomberg this month as sentiment
towards emerging markets worsened and some policy makers,
including Jan Czekaj, said borrowing costs may stay on hold for
several months.


Read more at Bloomberg Currencies News

UPDATE 1-SSAB to sell Ipsco tube unit after takeover -paper

(Reuters) - SSAB said it would not comment on the report.




"We don't comment on speculation. We have made a bid for the
whole of Ipsco, and that process is underway, and SSAB has the
intention of acquiring all of Ipsco," SSAB spokesman Tommy
Lofgren said.


Read more at Reuters.com Mergers News

India Cancels Tender to Buy 1 Million Tons of Wheat, Citing High Prices

(Bloomberg) -- India, the world's second-biggest
wheat consumer, canceled a tender to import 1 million tons of
the grain because it judged prices offered by firms including
Archer Daniels Midland and Cargill Inc. to be high.

Toepfer International and Glencore International AG were
among seven firms that offered 1.3 million tons priced at $267 a
ton to $302 a ton, a government official said. Toepfer was the
lowest bidder. India paid an average $205.31 a ton last year.


Read more at Bloomberg Commodities News

Japan's 20-Year Bonds Rise as Investors Match Extension of Benchmark Index

(Bloomberg) -- Japan's 20-year government bonds rose,
posting their biggest gain in almost two weeks, on speculation
investors are buying the securities to match a change in a
benchmark index.

Nomura Securities Co., Japan's biggest brokerage, will add
debt including 10- and 20-year securities sold this month to its
Bond Performance Index for June and remove those due in a year
or less. Bonds also rallied after a government report today
showed industrial production unexpectedly fell in April for a
second month, giving the central bank less room to raise
interest rates.


Read more at Bloomberg Bonds News

W.Bank revises 2007 China growth forecast to 10.4 pct

(Reuters) - It revised up its forecast of China's current account
surplus in 2007 to $340 billion, or 10.8 percent of GDP. In
February it had projected a ratio of 8.3 percent.




The bank now expects consumer price inflation to average
3.2 percent in 2007, up from the 2.5 percent level it had
forecast 3 months ago.


Read more at Reuters.com Economic News

Viacom to sell music publishing unit: report

(Reuters) - Viacom and Sony/ATV Music could not be reached immediately.




Viacom said in February it was exploring the possible sale of the unit, which includes the music from contemporary hit artists Eminem and Shakira.


Read more at Reuters.com Business News

Zimbabwe rules out foreign partners in diamond mine

(Reuters) - Zimbabwe will not seek foreign partners to mine diamonds in the east of the country and has stopped all illegal mining in a controversial area granted to a state firm, a government minister said on Monday.

Over 20,000 illegal miners descended on the Marange diamond deposit in the eastern province of Manicaland last August, sparking fears by the World Diamond Council (WDC) that some of the diamonds were finding their way to the black market against rules set up to curb trade in gems from conflict zones.


Read more at Reuters Africa

Wienerberger confirms to buy Canada's Arriscraft

(Reuters) - Arriscraft International Income Fund, which owns Arriscraft
International, had already announced the deal on Monday.




Wienerberger said in its statement it was still awaiting
permission from the competition authorities for the deal.


Read more at Reuters.com Mergers News

Thailand Government Bonds Fall as Yields Rise at Auction of 17-Year Debt

(Bloomberg) -- Thailand's bonds fell after yields
rose at a government auction of 5 billion baht ($152.4 million)
of 17-year debt.

The government today sold securities maturing in April 2024
at a weighted average yield of 4.5551 percent, more than the
4.1693 percent at a previous auction on May 23.


Read more at Bloomberg Bonds News

Japanese Shipping Company Shares Advance After UBS AG Raises Target Price

(Bloomberg) -- Shares of Nippon Yusen K.K., Mitsui
O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd., Japan's three
largest shipping companies, rose after UBS AG said it's
``bullish'' on the companies and raised their target price.

Shares of Mitsui O.S.K. rose as much as 3.3 percent to
1,632 yen and traded at 1,620 yen as of 9:32 a.m. in Tokyo.
Nippon Yusen's stocks surged as much as 2.9 percent to 1,109 yen
and Kawasaki Kisen shares rose 3.9 percent to 1,454 yen.


Read more at Bloomberg Commodities News

UPDATE 1-Red faces at Japan's NEC over illegal trades

(Reuters) - NEC said in a statement on Tuesday that an investigation by
the Tokyo Regional Taxation Bureau had found 10 employees from
five divisions within the company had been involved in placing
fake orders to subcontractors and receiving kickbacks from them.




The fake orders were worth some 2.2 billion yen and the kickbacks amounted to around 500 million yen, it
said.


Read more at Reuters.com Government Filings News

Asian Stocks Rise After Japan's Jobless Rate Drops; Mizuho Financial Jumps

(Bloomberg) -- Asian stocks advanced for a second day
after reports in Japan, the region's largest economy, showed an
unexpected drop in unemployment and household spending increased
for a fourth month.

Mizuho Financial Group Inc. rose to a three-month high,
helping lenders extend their lead as Japan's best performers this
month, on speculation consumers will help sustain economic growth.


Read more at Bloomberg Stocks News

China Gas to Build $157 Million Natural Gas Plant to Tap Clean-Fuel Demand

(Bloomberg) -- China Gas Holdings Ltd., operator of
61 natural gas projects on the mainland, will build a 1.2 billion
yuan ($157 million) liquefied natural gas plant in southwestern
China to gain from increased demand for cleaner burning fuels.

The plant, in the southwestern city of Dazhou, will have
annual capacity of 500,000 metric tons, or about 700 million
cubic meters of gas, the company said in an e-mailed statement
late yesterday. Its shares rose as much as 11 percent in Hong
Kong on resuming trade today, headed for a record close.


Read more at Bloomberg Emerging Markets News

Yuan Declines Most in Two Weeks on Signs China Is Reining in Its Advance

(Bloomberg) -- The yuan dropped the most in two weeks
on signs China is seeking to deter speculators betting on faster
gains since the central bank widened the trading band.

The currency fell as the central bank set a weaker daily
reference rate for yuan trading, after stronger fixings for the
previous six trading days. The central bank on May 18 widened the
daily limit on yuan fluctuations to 0.5 percent from 0.3 percent.


Read more at Bloomberg Currencies News

Asian Equities Rise on Japan's Economic Outlook; Mizuho Financial Advances

(Bloomberg) -- Asian stocks advanced for a second
day after reports in Japan, the region's largest economy, showed
an unexpected drop in unemployment and household spending
increased for a fourth month.

Mizuho Financial Group Inc. rose to a three-month high,
helping lenders extend their lead as Japan's best performers
this month, on speculation consumers will help sustain economic
expansion.


Read more at Bloomberg Stocks News

Dollar Trades Near Three-Month High as U.S. Consumer Confidence to Rebound

(Bloomberg) -- The dollar traded near a three-month
high against the yen on speculation a U.S. report today will show
consumer confidence rebounded from an eight-month low.

The U.S. currency was also near the highest in six weeks
versus the euro as housing data prompted traders to reduce bets
on a Federal Reserve interest-rate cut. The yen was supported
briefly after Japan's jobless rate unexpectedly fell to a nine-
year low and households increased spending for a fourth month.


Read more at Bloomberg Currencies News

Formosa Petrochemical, Taishin, Quanta Computer: Taiwan's Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Taiwan trading. Stock symbols are in brackets after the
company names. The preview includes news that broke after
markets shut. Prices are from yesterday's close unless otherwise
stated.

The Taiex index slipped 3.15 points to 8156.82 in Taipei.
Futures due in June added 0.3 percent to 8154.


Read more at Bloomberg Stocks News

Japan's Stocks May Gain After Household Spending, Jobs Data Beat Forecasts

(Bloomberg) -- Japanese stocks may climb after a
measure of household spending beat forecasts and the jobless
rate fell to a nine-year low. Domestic demand-related shares
including Fast Retailing Co. may pace gains.

Nikkei 225 Stock Average futures expiring in June last
traded in Chicago at 17,585, down from the close of 17,600 in
Osaka and 17,605 in Singapore yesterday.


Read more at Bloomberg Stocks News

Japan's Government Bonds May Rise as Investors Match Nomura Index Change

(Bloomberg) -- Japan's government bonds may advance,
halting a four-day decline, on speculation 10-year yields near the
highest since February will lure investors as they match a change
in a benchmark debt index.

Nomura Securities Co., Japan's biggest brokerage, will add
debt including 10- and 20-year bonds sold this month to its Bond
Performance Index for June and remove securities maturing in a
year or less. Money managers such as Japan's Government Pension
Investment Fund, which runs the world's largest pool of retirement
wealth, use the index to decide on holdings.


Read more at Bloomberg Bonds News

Alcan Shares Rise on Possible Takeover Bids From Norsk Hydro, Rio Tinto

(Bloomberg) -- Shares of Alcan Inc. rose after
reports of possible takeover offers from Norsk Hydro ASA and Rio
Tinto Group raised expectations of a bidding war with Alcoa Inc.
for the Canadian aluminum producer.

Norsk Hydro, an Oslo-based energy and metals producer, is
preparing a bid valued at more than $30 billion for Alcan, the
Globe and Mail reported today, citing bankers close to both
companies who weren't named. Rio Tinto, the world's third-largest
miner, hired Deutsche Bank AG to advise it on a possible Alcan
bid, the Age newspaper reported, without citing anyone.


Read more at Bloomberg Stocks News

EU presses China on trade gap, rights

(Reuters) - EU External Relations Commissioner Benita Ferrero-Waldner said after meeting Chinese Foreign Minister Yang Jiechi she had also stressed the need for Beijing to do more on climate change.




"I mentioned the huge trade deficit that is there," she told Reuters. "If you only think, in the year 2006 -- 130 billion euros . That's a huge deficit and therefore we really want to get market access."


Read more at Reuters.com Business News

Colombia Peso Bond Yields Drop to One-Month Low on Slower Inflation View

(Bloomberg) -- Colombia's peso bond yields fell to a
more than one-month low on speculation lower food prices and a
stronger currency will encourage the central bank to end its
recent series of interest rate increases.

The central bank raised its target rate for overnight
lending between banks on May 18 to 8.75 percent, the highest
since November 2001. The bank has raised the key rate 11 times
since April 2006 from a three-year low of 6 percent.


Read more at Bloomberg Bonds News

Canada's Currency Trades Near 30-Year High, Bond Yields Rise on Inflation

(Bloomberg) -- Canada's 10-year bond yield rose to a
10-month high on speculation Bank of Canada policy makers will
express concern tomorrow over accelerating inflation.

The Canadian dollar traded at near a 30-year high as futures
traders increased bets the central bank will raise the benchmark
lending rate at least once this year to slow the growth of
consumer prices. Canadian inflation, excluding volatile
components such as energy, accelerated in April to its highest
level in more than four years.


Read more at Bloomberg Currencies News

Brazil central bank strike delays data, again

(Reuters) - Unionized bank workers have been striking over pay since
the beginning of May.




Read more at Reuters.com Bonds News

Middle East Money Managers to Triple Assets to $200 Billion, Algebra Says

(Bloomberg) -- Middle Eastern and North African
money managers' assets will almost triple to $200 billion by
2012 as regional stocks attract investors, Dubai, United Arab
Emirates-based Algebra Capital Ltd. forecast.

``Gulf markets present better value than other emerging
markets, which have been more on the radar screens of
international investors and are trading at higher multiples,''
Ziad Makkawi, chief executive officer of Algebra, the asset
management firm he started in November, said in an interview in
Dubai today.


Read more at Bloomberg Emerging Markets News

Nordic Indexes Climb, Paced by Swedish Match, Volvo; OMX Shares Advance

(Bloomberg) -- Nordic stocks gained, led by Swedish
Match AB, the world's second-largest maker of smokeless tobacco
products, and Volvo AB, Europe's second-biggest truckmaker.

OMX AB jumped to a six-year high after the Sunday Times
reported the Nordic region's biggest stock exchange operator may
receive a counterbid from Dubai.


Read more at Bloomberg Stocks News

China's Stock Index Breaches 4,000 for First Time; World's Biggest Mover

(Bloomberg) -- China's CSI 300 Index rose above 4000
for the first time, driven by a surge in new investors who are
ignoring warnings of a bubble to enter a market that's doubled
this year.

China International Marine Containers Co. and Tsingtao
Brewery Co. were among 11 stocks to rise by the 10 percent daily
limit on the 298 member index. Jiangxi Copper Co. climbed after
the price of the metal gained by the daily cap in Shanghai.


Read more at Bloomberg Stocks News

S.African stainless steel demand up 29 pct in 2006

(Reuters) - Stainless steel demand in South Africa jumped by 29 percent last year, fuelled by the transport sector, and more growth was expected in 2007, an industry group said.

"The growth outlook for the local market remained positive, driven by strong demand and project activity within South Africa and the region," said a statement by the Southern Africa Stainless Steel Development Association.


Read more at Reuters Africa

Sweden Consumer Confidence Slips From Highest Since 2000 on Rate Concern

(Bloomberg) -- Sweden's consumer and manufacturing
confidence indexes fell from the highest levels in more than six
years after the central bank said it will have to raise interest
rates more than anticipated.

The consumer index fell to 19.7 from 23 in April, which was
the highest since November 2000, the National Institute of
Economic Research said in an e-mail. The manufacturing index in
May fell to 9 from 13, which was also a seven-year high. The so-
called economic tendency indicator, a combination of both
indexes, fell to 115.9 from 117.4.


Read more at Bloomberg Bonds News

Russian Stocks Erase Advance; Gazprom, Lukoil and Surgut Shares Decline

(Bloomberg) -- Russian stocks pared earlier gains as
OAO Gazprom, OAO Lukoil and OAO Surgutneftegaz declined.

The ruble-denominated Micex Index sank 0.2 percent to
1578.98 rubles at 11:39 a.m. in Moscow. The dollar-denominated
RTS Index dropped 0.4 percent to 1788.03.


Read more at Bloomberg Stocks News

Crude Oil Falls on U.S. Gasoline Output Increase, End of Nigerian Strike

(Bloomberg) -- Crude oil fell in New York on
speculation U.S. fuel prices may ease as refiners increase
output to meet summer demand and after oil workers in Nigeria
ended a two-day strike.

A U.S. government report showed gasoline production rose to
the highest since December, boosting supplies for a third week.
U.S. crude oil stockpiles are 7.6 percent above their five-year
average, the Energy Department said last week. Nigerian oil
workers ended the strike after the government conceded to their
demand for more pay and benefits, Reuters reported on May 26.


Read more at Bloomberg Commodities News

Sanyo turns operating profit in 06/07

(Reuters) - Sanyo's earnings have been hit hard in recent years by the cost of restructuring steps such as job cuts and plant closures, as well as by earthquake damage to its microchip factory, forcing it to issue $2.5 billion worth of preferred shares to Goldman Sachs and two other financial institutions last year.




The Osaka-based company on Monday forecast an operating profit of 45 billion yen for the year to March 2008, down 9.2 percent on the year and falling short of a consensus of 51 billion yen in a poll of 10 analysts by Reuters Estimates.


Read more at Reuters.com Market News

Platinum Price Declines as Exchange-Traded Fund May Not Be Offered in U.S.

(Bloomberg) -- Platinum fell for a third day in
Asian trading following a report that ETF Securities Ltd. will
not offer an exchange-traded fund for the metal in the U.S.

ETF Securities has no plan to list a U.S.-based platinum
fund, HSBC Holdings Plc said in a report, citing Graham Tuckwell,
ETF Securities chairman. Calls to the office numbers of Tuckwell
and ETF Securities weren't answered.


Read more at Bloomberg Commodities News

China shares hit new all-time high

(Reuters) - Gainers overwhelmed losers by 767 to 102. Turnover in Shanghai A shares was very heavy at 137.5 billion yuan , up from Friday morning's 107.0 billion yuan.




Traders said there was no fresh, major positive news behind the rally, but individual investors were encouraged by the market's strength last week in the face of an interest rate hike and former U.S. Federal Reserve chairman Alan Greenspan's warning that stocks were dangerously overvalued.


Read more at Reuters.com Hot Stocks News

Rubber Prices Decline in Tokyo as Crude Oil Falls from Three-Week High

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, fell for the first day in nine as prices dropped for
crude oil, which is used to make a synthetic alternative to
natural rubber.

Crude oil for July delivery fell as much as 50 cents, or
0.8 percent, to $64.73 a barrel, in after-hours electronic
trading on the New York Mercantile Exchange. The commodity
traded at $64.84 a barrel at 11:43 a.m. in Singapore, compared
with the three-week high of $67.10 on May 21.


Read more at Bloomberg Commodities News

Japan's Bonds Decline as Gains in Stocks Reduce Demand for Debt Securities

(Bloomberg) -- Japan's 10-year bond yields held near
the highest since February after the Nikkei 225 Stock Average
rebounded from the biggest decline in a month.

Two-year yields were at the highest since 1997 before
reports this week that are forecast to show Japanese industrial
production rose and U.S. hiring increased. Signs of faster growth
in the world's two biggest economies may encourage the Bank of
Japan to raise interest rates again this year.


Read more at Bloomberg Bonds News

Japan Shares Rebound, Led by Honda, on Weak Yen, Higher Commodity Prices

(Bloomberg) -- Japanese stocks rebounded from their
biggest loss in a month, led by exporters after the yen weakened
against the dollar and euro, boosting the value of their
overseas sales. Trading companies gained after commodities
prices rose at the end of last week.

Nintendo Co., Japan's second-largest video-game maker, rose
for the first time in three days. Mitsubishi Corp., the nation's
largest trading company, jumped 2.2 percent.


Read more at Bloomberg Stocks News

South Korean Bonds Gain on Speculation 13-Month-High Yield to Spur Demand

(Bloomberg) -- South Korea's won fell after North
Korea test-fired missiles late on May 25 as part of routine annual
exercises, fueling concern tensions in the region may increase.

The short-range missiles were launched after the close of won
trading last week. Japanese Prime Minister Shinzo Abe said his
country's patience ``isn't limitless'' and retains the option of
further sanctions against the communist nation. The won slid 1.5
percent on Oct. 9 after the North tested its first nuclear bomb.


Read more at Bloomberg Bonds News

New York Natural Gas Is Little Changed as Mild Weather Diminishes Demand

(Bloomberg) -- Natural gas in New York fell for a
sixth day on rising stocks of the power-plant fuel and slack
demand because of mild weather and a U.S. holiday.

``While warmer temperatures are moving toward the East Coast
into the weekend, most of the U.S. is seeing some spring-like
conditions, keeping cooling demand loads light,'' said Michael
Fitzpatrick, vice president for energy risk management at Man
Financial Inc. in New York.


Read more at Bloomberg Energy News

Japan Will Urge APEC to Take Specific Measures to Cut Energy Consumption

(Bloomberg) -- Japan, a signatory to the Kyoto
Protocol on climate change, wants the 21 Asia-Pacific Economic
Cooperation members to adopt specific measures to cut energy
consumption.

Japan's delegation to the APEC energy ministers' meeting in
Darwin, Australia, will call on the meeting to agree plans to
promote energy savings across industries, Jun Arima, director of
the trade ministry's international affairs division, said in an
interview with Bloomberg News late yesterday.


Read more at Bloomberg Energy News

ABB Grain, BHP Billiton, Coles, James Hardie: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed on Friday. Prices are from
Friday's close unless otherwise stated. Stock symbols are in
brackets after the company names.

The S&P/ASX 200 Index futures contract due in June added 0.5
percent to 6300 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index rose 1.3 percent in New York.


Read more at Bloomberg Stocks News

Business software maker Lawson may rise: Barron's

(Reuters) - It also noted that the company has also recently boosted its sales force and shifted some of its work offshore.




Cowen analyst Peter Goldmacher has a price target of $14 for the shares, Barron's said. They closed on Friday at $8.71.


Read more at Reuters.com Hot Stocks News

Israel Quarterly Jobless Rate Declines to 7.7 Percent; Lowest Since 1977

(Bloomberg) -- Israel's unemployment rate fell to a
seasonally adjusted 7.7 percent in the first quarter, from 7.8
percent in the fourth quarter, the Central Bureau of Statistics
said in an e-mailed report today.

The first-quarter jobless rate is the lowest since the
second quarter of 1997, the Jerusalem-based bureau's figures
show. The unemployment rate has fallen from a peak of 10.9
percent at the beginning of 2004.


Read more at Bloomberg Emerging Markets News

China says taxes alone won't cut trade surplus

(Reuters) - "You cannot expect to resolve the trade balance by simply
curbing export patterns," Vice Commerce Minister Gao Hucheng
told Reuters on the sidelines of a conference when asked about
the changes.




"These products make up a relatively small portion of
exports. But the point is that this reflects changes in trade
and economic growth, which will have advantages in the short
term and even greater significance in the long term."


Read more at Reuters.com Business News

Emirati Shares Gain, Paced by Emaar Properties, National Bank: Gulf Stocks

(Bloomberg) -- Stocks in the United Arab Emirates
rose, paced by Emaar Properties PJSC and National Bank of Abu
Dhabi PJSC.

The Dubai Financial Market General Index advanced 2.3
percent to 4437.40 at 11:23 a.m. local time. The Abu Dhabi
Securities Market Index rose 2.9 percent to 3582.60.


Read more at Bloomberg Stocks News

Chrysler wants to boost presence in Russia: report

(Reuters) - Chrysler was currently talking about possible partnerships with Russian companies, the report said.




The U.S. car company is looking for worldwide business opportunities, having been put up for sale by its parent DaimlerChrysler after an unsuccessful nine-year partnership.


Read more at Reuters.com Business News

US crude jumps $1 on gasoline worries

(Reuters) - U.S. crude oil prices rose a dollar Friday on concerns over low gasoline supplies heading into the travel-heavy Memorial holiday weekend.

Rising tension surrounding Iran and Nigeria, two of the world's leading oil producers, was also underpinning gains, dealers said.


Read more at Reuters Africa

U.K. Pound Posts Weekly Gain on Outlook for Manufacturing, Interest Rates

(Bloomberg) -- The pound gained against the dollar
this week as manufacturing figures and minutes from the Bank of
England's last policy meeting prompted traders to increase bets
that interest rates will rise.

The U.K. currency rallied the most in a month on May 23 after
the central bank said that policy makers voted unanimously for a
change in interest rates for the first time since August 2004. The
government yesterday said gross domestic product grew in the first
quarter at a faster annual pace than economists predicted in a
Bloomberg survey.


Read more at Bloomberg Currencies News

UPDATE 1-Wall St Week Ahead: May jobs data to test stocks' rally

(Reuters) - NEW YORK, May 25 - Wall Street's merger-fueled
rally may continue next week, so long as Friday's payrolls
report and other economic news don't spoil the party.




For a holiday-shortened four-day work week, the calendar
is crowded with reports on consumer confidence and the overall
pace of economic growth, among others.


Read more at Reuters.com Economic News

UPDATE 1-US ITC again delays Qualcomm-Broadcom decision

(Reuters) - The ITC said in a notice that the deadline for the decision
had been extended until June 7. It gave no explanation for the
extension.




Broadcom had asked the commission to impose the ban in
response to Qualcomm's infringement of a Broadcom patent
involving battery-saving technology.


Read more at Reuters.com Government Filings News

UPDATE 1-Some Frito-Lay products to bear new heart claim -US

(Reuters) - The U.S. Food and Drug Administration, in a statement, said
the company notified the agency in January about its intent to
add the claim to some of its products. It added any food that
meets the agency's requirements could also carry the claim.




"Frito-Lay intends to apply the claim to vegetable oils,
spreads, and shortenings that have a total unsaturated fat
content of 80 or more of total fat," the FDA said.


Read more at Reuters.com Government Filings News

Nickel Rises as Voisey's Bay Mill Shuts Briefly; Lead Advances to Record

(Bloomberg) -- Nickel gained the most in four weeks
in London after production from the Voisey's Bay mill in eastern
Canada was shut briefly because of a labor dispute over safety.
Lead pared gains after rising to a record.

Cia. Vale do Rio Doce, the world's second-largest refiner of
nickel, said output at its mill in Labrador was halted yesterday
and resumed last night. Voisey's Bay has been operating with
replacement workers for five weeks while employees represented by
the United Steelworkers union try to resolve a labor dispute.
Nickel stockpiles stand at about three days of global demand.


Read more at Bloomberg Commodities News

BMC Software, Cleveland-Cliffs, Peru Copper, Nordson: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 2:40 p.m. New York time.

Adams Respiratory Therapeutics Inc. (ARXT US) rose $3.49, or
8.7 percent, to $43.54 and traded as high as $44.39. U.S.
regulators moved to force illegal competitors to the company's
Mucinex off the market. Hundreds of time-release drugs containing
the chemical guaifenesin are sold to ease cold and cough
symptoms, although Adams alone has approval to sell such
products, the Food and Drug Administration said on its Web site.


Read more at Bloomberg Stocks News

Cleveland-Cliffs takeover talk ups options, shares

(Reuters) - Cleveland-Cliffs shares, which were up $5.04, or 7.2 percent, at $75.86 in afternoon trade on the New York Stock Exchange, have gained 56 percent so far this year.




The Cleveland-based company was not immediately available to comment.


Read more at Reuters.com Hot Stocks News

Archstone-Smith Surges After UBS Reports It May Be a Takeover Candidate

(Bloomberg) -- Shares of Archstone-Smith Trust, the
second-largest U.S. apartment real estate investment trust,
surged as much as 11 percent after investment bank UBS AG said
the company may be a takeover candidate.

The stock posted its biggest gain in six years, rising $4.21
to $55.34 at 11:48 a.m. in New York Stock Exchange composite
trading. The company's market capitalization is $12.37 billion.


Read more at Bloomberg Stocks News

Canadian dollar rallies to new 29-1/2 year high

(Reuters) - The rise marked the highest level for the Canadian dollar
since it traded at C$1.0746 to the U.S. dollar, or 93.06 U.S.
cents, in October 1977.




After bouncing back and forth for most of the early part of
the session, the currency eventually gathered enough momentum
and forced traders who were banking it to fall below the
C$1.0880 level to unwind bets on the U.S. dollar.


Read more at Reuters.com Bonds News

Tyco mulling asset sales after breakup-filings

(Reuters) - "We regularly review and will consider the divestiture of
underperforming or non-strategic businesses to improve our
operating results and better utilize our capital," Tyco
Electronics said in its S-1 registration statement.




Each of the three companies has made a separate S-1 filing
with the SEC.


Read more at Reuters.com Government Filings News

UPDATE 1-Mexico holds key interest rate, warns on inflation

(Reuters) - The bank said it expects 12-month inflation to return
toward its target of 3 percent when recent price shocks
diminish but said inflation risks still persisted.




Last month the bank surprised markets with a 25 basis point
increase in interest rates.


Read more at Reuters.com Bonds News

Nasdaq's rating outlook negative, was stable-Moody's

(Reuters) - Debt taken on for the acquisition will reduce Nasdaq's
financial flexibility and increase leverage to a level that is
high for its "Ba3" rating, Moody's said in a statement. A "Ba3"
rating is three steps below investment grade.




"Nonetheless, Moody's believes that the Nasdaq OMX Group
should have a strong capacity to generate cash and reduce
leverage, if management chooses to do so," the rating agency
said.


Read more at Reuters.com Mergers News

Oil rises to $71 on supply worries

(Reuters) - Oil rose to $71 a barrel on Friday, near a nine-month high, as a strike in Nigeria threatened more of the country's output and Iran remained defiant over its nuclear programme.

Rising tension surrounding two of the world's leading oil producers have coincided with lower OPEC supply and relatively low gasoline stocks in top consumer the United States before the onset of peak summer demand.


Read more at Reuters Africa

U.S. Stocks Rise on Takeovers; NYSE Euronext Shares Gain on Goldman Note

(Bloomberg) -- U.S. stocks rebounded after Nasdaq
Stock Market Inc. and Coca-Cola Co. announced acquisitions, adding
to this year's unprecedented pace of takeovers.

NYSE Euronext, owner of the world's largest stock market,
advanced after Goldman, Sachs & Co. upgraded the shares on
speculation of more consolidation among exchanges. MGM Mirage
shares rose after the second-biggest casino company hired UBS AG
to advise on a possible breakup being considered by Kirk
Kerkorian.


Read more at Bloomberg Stocks News

Consumers resilient despite lofty gas prices-survey

(Reuters) - When asked to describe their future financial prospects,
consumers gave responses that were more favorable by six
percentage points in 2007 than in 2006, according to
Reuters/University of Michigan Surveys of Consumers.




Consumers, when asked how their current financial situation
had changed, were also less likely in 2007 to refer to rising
gasoline prices than in 2006, despite gasoline prices at record
highs, Reuters/University of Michigan Surveys of Consumers
said.


Read more at Reuters.com Economic News

RF Micro Devices, Nasdaq, Peru Copper, SourceForge: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:50 a.m. New York time.

Aruba Networks Inc. (ARUN US): The maker of wireless
networking equipment posted third-quarter sales of $34.7 million,
up 65 percent from a year earlier. That exceeded the $30.5
million estimate of three analysts surveyed by Bloomberg. The
shares rose 2 cents to $15.16 in regular trading yesterday.


Read more at Bloomberg Stocks News

UPDATE 1-SEC opens probe after Dow Chemical firings-source

(Reuters) - The Midland, Michigan-based company accused Romeo
Kreinberg, head of its specialty businesses and Pedro Reinhard,
a senior adviser and board member, of engaging in a "business
activity that was highly inappropriate."




The company had earlier this year been the subject of
numerous leveraged buyout rumors.


Read more at Reuters.com Government Filings News

S.Africa maize follows US higher, weak rand helps

(Reuters) - South African maize prices skipped higher on Friday, guided by the U.S. market and a softer rand and largely shrugging off bearish crop data, traders said.

July white maize futures ended 0.71 percent firmer at 1,713 rand a tonne.


Read more at Reuters Africa

Washington D.C. Borrows for Schools, Postpones Refinancing as Rates Rise

(Bloomberg) -- Washington D.C. borrowed $576 million
at a weighted-average interest rate of 4.69 percent to finance
schools, recreation centers and government offices in the week's
largest U.S. tax-exempt bond sale.

The U.S. capital postponed another debt offering that was
to have saved the District of Columbia as much as $6 million on
previous higher-cost borrowings after bonds fell this week,
lifting borrowing rates for state and local governments.


Read more at Bloomberg Bonds News

Sanofi's Plavix wins EU backing for stent patients

(Reuters) - Recommendations for marketing approval by the agency's
expert panel are normally endorsed by the European Commission
within a couple of months.




Read more at Reuters.com Government Filings News

Lukoil Agrees to Help Gazprom Develop Oil Production Business in Russia

(Bloomberg) -- OAO Lukoil agreed to help Russia's
state-run OAO Gazprom, the world's biggest natural-gas company,
develop its oil business by forming a joint venture to tap
fields from the Arctic to the Caspian Sea.

Vagit Alekperov, Lukoil's billionaire chief executive
officer, and OAO Gazprom Neft CEO Alexander Dyukov signed an
accord in Moscow today that calls for the venture to be up and
running within 90 days. Gazprom will own 51 percent of the
venture, though operational control will be split evenly.


Read more at Bloomberg Energy News

Gold gains above nine-week lows

(Reuters) - But larger-than-usual gold sales by European central banks in the past weeks might weigh on prices, they said.




"At some stage, we would expect the downside to fade a little bit, giving some room for an upside swing. You start to feel now that there is some hesitation in the selling," said Frederic Panizzutti, precious metals analyst at MKS Finance.


Read more at Reuters.com Hot Stocks News

Chicago Soybean Futures Rise on Demand Speculation; Corn, Wheat Advance

(Bloomberg) -- Chicago soybeans rose for a third day
to a 35-month high on speculation that demand for the oilseed may
benefit from a European campaign against palm oil, which competes
with soybean oil. Corn and wheat were little changed.

Malaysia and Indonesia, the world's biggest palm oil
producers, agreed to counter a European campaign against the oil.
The two countries are facing claims from environmental groups and
investors that rainforests are being cut down to make room for
oil palm, destroying habitat for animals such as the orangutan.


Read more at Bloomberg Commodities News

Central European Shares Decline, Paced by KGHM, Mol; Unipetrol Declines

(Bloomberg) -- Central European shares fell for a
second day, led by KGHM Polska Miedz SA, Poland's largest copper
mining company, after prices of the metal dropped. Mol Nyrt.,
Hungary's largest oil company, also declined.

The NTX Index of 30 companies in the region slipped 0.2
percent to 1938.55 at 10:40 a.m. in Vienna as 20 stocks fell and
10 rose.


Read more at Bloomberg Stocks News

Nickel Advances in London as Voisey's Bay Production Halts; Copper Gains

(Bloomberg) -- Nickel rose from close to a two-month
low in London after production from the Voisey's Bay mill in
Canada was shut because of a dispute over safety. Copper and zinc
also advanced.

Cia. Vale do Rio Doce, the world's second-largest refiner of
the metal, said yesterday that employees were refusing to return
to work at the mine in Labrador. The unit produces about 1,300
metric tons of concentrate, an intermediate product, daily.
Nickel stockpiles stand at about three days of global demand.


Read more at Bloomberg Commodities News

UPDATE 1-Achievo says plans Nasdaq listing within months

(Reuters) - "We have aspirations to list on NASDAQ," Robert Lee, chairman
and chief executive, told Reuters in an interview in Beijing.




"It will be a matter of months rather than years."


Read more at Reuters.com Mergers News

S.Africa's blue chip Top-40 falls 1.3 pct

(Reuters) - South Africa's blue-chip Top-40 index fell over 1.3 percent on Friday, amid investor concern over higher interest rates, commodity prices and following fresh weakness on Asian stockmarkets.

The 40-member Top-40 fell 1.33 percent to 25,451 points after setting a fresh all-time high on Thursday.


Read more at Reuters Africa

European stocks track global markets lower

(Reuters) - European stocks eased early on Friday, led by lacklustre miners, as investors took their lead from losses on global markets as fears about U.S. growth and Chinese equities weighed.

The FTSEurofirst 300 index of top European shares fell 0.3 percent to 1,592.7 points, its lowest level in a week, following a 1.2 percent slide for Tokyo's Nikkei index.


Read more at Reuters Africa

Two-year JGB yield at decade high on BOJ worries

(Reuters) - Since the BOJ ended its super-loose monetary policy in March
2006, it has raised interest rates twice to a decade-high 0.5
percent, and many market players expect a third rate hike to 0.75
percent as early as the July-September quarter.




Despite such views, the market has been supported by buying
from public funds, pension funds and other institutional
investors which regularly allocate a certain amount of funds to
JGBs, helping to cap a rise on yields.


Read more at Reuters.com Bonds News

Tribune faced with tough borrowing terms: WSJ

(Reuters) - Tribune sold more than $7 billion in loans last week to
fund the tender offer as part of the deal and to refinance some
existing debt, the paper said.




But the company had to agree to higher interest rates than
planned on most of the debt and to pay down some loans within
two years, rather than the seven-year term it sought, the paper
reported.


Read more at Reuters.com Mergers News

Pantaloon, Rival India Retailers Buoyed by Rising Market Share, Revenue

(Bloomberg) -- India's biggest retailers are adding
stores to lure people whose incomes are rising in the world's
second-fastest growing major economy. They're also luring
investors.

Retailers' shares, which lagged behind the broader market
in 2006, are rallying. Tata Group-owned Trent Ltd., which runs
fashion and cosmetics stores, has climbed 15 percent from an
eight-month low in March. Shoppers' Stop Ltd., which sells
clothing, accessories and home decor items, in April had its
biggest monthly gain since September.


Read more at Bloomberg Stocks News

Bimbo, Empresas ICA, Mexichem, Medial Saude, Sadia: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Australia, N.Z. Dollars Drop Against Yen; Appetite for Higher Yields Falls

(Bloomberg) -- The Australian and New Zealand
dollars headed for weekly losses against the yen as a slump in
global stocks prompted investors to reduce bets on higher-
yielding assets.

The currencies fell to the weakest in two weeks versus the
yen as Asian equities followed U.S. shares lower. Traders cut
so-called carry trades, where they borrow in countries with
lower interest rates to fund higher-yielding investments.
Australia's interest rate of 6.25 percent and New Zealand's 7.75
percent compare with Japan's 0.5 percent.


Read more at Bloomberg Currencies News