Japanese Government Notes Decline on Concern Global Inflation May Increase

(Bloomberg) -- Japan's five-year notes fell, pushing
yields to the highest since 2000, after comments by officials in
the U.S. and Japan spurred concern global inflation may rise.

Demand at an auction of five-year government securities
dropped to the lowest since January after Japanese Vice Finance
Minister Hideto Fujii said the label ``deflation'' is
inappropriate to describe the economy. Federal Reserve Bank of
Cleveland President Sandra Pianalto said in Dublin yesterday
inflation in the U.S. is ``uncomfortably high.''


Read more at Bloomberg Bonds News

US indexes flat; oil lifts sector but rates a concern

(Reuters) - U.S. stocks ended little changed on Monday as rising oil prices boosted the energy sector but lingering concern about higher interest rates kept investors on the defensive.

Exxon Mobil Corp. helped lead the Standard & Poor's 500 index higher as oil prices rose nearly 2 percent on news Saudi Arabia will keep OPEC supply limits in place through July.


Read more at Reuters Africa

Japan Shares Fall, Led by Tokyo Electric, Exporters on Higher Bond Yields

(Bloomberg) -- Japanese stocks fell, paced by
utility producers and railway companies, as rising bond yields
reduced the appeal of their dividend payouts.

Tokyo Electric Power Co., Japan's biggest utility company,
declined 1.3 percent. Utility, railway and information companies
climbed toward the end of last fiscal year because their
dividends are high relative to those paid by other companies.


Read more at Bloomberg Stocks News

European Buyout Group Warns Gordon Brown Against `Dangerous' Tax Changes

(Bloomberg) -- U.K. Chancellor of the Exchequer
Gordon Brown shouldn't bow to union demands and introduce
``dangerous'' tax increases for private equity firms, the head of
Europe's Private Equity and Venture Capital Association said.

The Trades Union Congress is pressing Brown to make
executives at leveraged buyout firms pay tax at 40 percent, the
highest income tax rate in the U.K., on the profit from their
investments instead of the 5 percent rate they pay now. A panel
of British Members of Parliament meets today to start questioning
industry executives, part of a probe of the buyout industry.


Read more at Bloomberg Bonds News

Alliance One, Massey, Take-Two, Texas Instruments: 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.

Alliance One International Inc. (AOI) increased 47 cents,
or 4.7 percent, to $10.46 in trading yesterday after the
official close of U.S. markets. The tobacco grower expects to
exceed its earnings guidance of 25 cents to 32 cents a share for
the fiscal year that ended March 31.


Read more at Bloomberg Stocks News

Rubber Futures Little Changed in Tokyo on Speculation Losses Were Overdone

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, were little changed after five days of losses as some
traders said investors were buying back contracts they had sold
in anticipation of a decline.

Natural rubber dropped about 5 percent in the previous five
days as traders took short, or sell, positions amid waning
expectations that earlier-than-usual rains in Thailand, the
biggest producer, would restrict supplies.


Read more at Bloomberg Commodities News

Malaysia Credit Rating `Constrained' by Government Finances, Moody's Says

(Bloomberg) -- Malaysia's credit rating is
``constrained,'' Moody's Investors Service said, even after the
country's second finance minister, Nor Mohamed Yakcop, traveled
to New York and asked for an increase.

Malaysia's sovereign bond ratings are ``somewhat
constrained by general government finances that remain weaker
than comparable peers,'' Aninda Mitra, lead Moody's analyst for
Malaysia, wrote in an e-mail. Still, ``exceptionally strong
external accounts'' support the ratings, Mitra said.


Read more at Bloomberg Emerging Markets News

Treasuries Little Changed Before 10-Year Government Sale, Economic Reports

(Bloomberg) -- Treasuries were little changed
before an auction of 10-year notes today that will help gauge
demand for U.S. debt.

The government will sell $8 billion in a re-offering of 10-
year notes today. Investors will also look to producer and
consumer price data later this week for cues on inflation in the
world's biggest economy. U.S. 10-year bonds last week had their
biggest weekly decline in a year on speculation global growth
will spur central banks to raise interest rates.


Read more at Bloomberg Bonds News

Arcelor, DaimlerChrysler, Inditex, Sanofi-Aventis: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 added 1 percent to 388.88. The Dow
Jones Stoxx 50 Index climbed 0.8 percent to 3887.54. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
increased 0.9 percent to 4415.50.


Read more at Bloomberg Stocks News

Australian Dollar May Rise a Second Day as Prices of Commodities Increase

(Bloomberg) -- The Australian dollar may rise for a
second day on speculation price gains for commodities will boost
the income the country receives from exports.

Australia's currency traded near an 18-year high after a
measure of six tradable metals on the London Metal Exchange
yesterday climbed 2.2 percent. Raw material exports add about 14
percent to Australia's economic growth. The local dollar may
also be supported after Canada's Brookfield Asset Management Inc.
agreed to buy Australia's Multiplex Group for A$4.2 billion
($3.5 billion) in cash.


Read more at Bloomberg Currencies News

Japan's Yen, Indian Rupee, Chinese Yuan, Korean Won: Asia Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

AT&T, Verizon support Cablevision's remote DVR plan

(Reuters) - Several trade bodies and lobby groups, including USTelecom,
which represents AT&T Inc. jointly filed an Amicus
brief in support of Cablevision's appeal against a ruling that
prohibits the launch of the service.




The brief was filed on Friday at the 2nd U.S. Circuit Court
of Appeals in Manhattan.


Read more at Reuters.com Government Filings News

New Zealand Dollar Rises as Higher Yields Lure After Central Bank Selling

(Bloomberg) -- The New Zealand dollar gained as
investors were lured back to the nation's higher-yielding assets
after the central bank sold the currency yesterday.

New Zealand's record 8 percent benchmark interest rate has
helped the currency, known as the kiwi, gain 7 percent this year.
The highest borrowing costs after Iceland's among AAA-rated
countries, and the chance of further increases, is helping the
local dollar pare losses after the central bank said those gains
were ``unjustified'' and announced its had sold the currency.


Read more at Bloomberg Currencies News

Comverse Technology posts Q1 loss

(Reuters) - Sales rose to $405.7 million from $369.2 million last year,
it said in a statement.





Read more at Reuters.com Market News

Take-Two posts slightly wider second-quarter loss

(Reuters) - The company also named Lainie Goldstein as its chief
financial officer.




Read more at Reuters.com Market News

Qualcomm files for emergency stay on ITC ban

(Reuters) - Spokeswoman Emily Kilpatrick did not provide further
details beyond saying that Qualcomm had filed for the stay.




Read more at Reuters.com Government Filings News

UPDATE 2-MOVES-FRC, Fortress, Carlyle, Acadian, others

(Reuters) - FINANCIAL REPORTING COUNCIL




The Financial Reporting Council, the independent British
regulator responsible to promote confidence in corporate
reporting and governance, named Stephen Heathcote director of
planning and resources, reporting to Chief Executive Paul
Boyle. Heathcote joins from the Association of Chartered
Certified Accountants, where he was director of learning and
development and strategic programme delivery.


Read more at Reuters.com Government Filings News

XM says "Opie & Anthony" show to return

(Reuters) - XM denounced the comments and the hosts apologized. But XM, which has agreed to be acquired by rival Sirius Satellite Radio Inc., suspended the team about a week after the incident, saying the duo had later made remarks on air that suggested their regret was not sincere.




"Opie and Anthony will be back on XM live at 6:00 a.m. ET on Friday, June 15th," XM said in a message posted to its Web site.


Read more at Reuters.com Mergers News

UPDATE 2-Qwest CEO Notebaert to retire, shares fall

(Reuters) - Analysts said the news raised questions about how Qwest would handle issues such as whether to seek a merger as competition from cable television providers increases.




"The time has come for me to spend more time with family and focus on other commitments," 59-year-old Notebaert said in a statement. He said he was looking forward to working closely with the Qwest Board in its search for a replacement.


Read more at Reuters.com Mergers News

UPDATE 1-Tweeter Home files for Chapter 11 bankruptcy

(Reuters) - The Canton, Massachusetts-based electronics retailer and
seven affiliates filed for protection from creditors with the
U.S. bankruptcy court in Wilmington, Delaware. Tweeter listed
$258.6 million of assets and $190.4 million of debts in its
bankruptcy filing.




Last month, the operator of Sound Advice and HiFi Buys
stores posted a $35.2 million fiscal second-quarter loss, or
$1.38 per share, and said it believed its lacked sufficient
working capital for short-term needs. It had warned at that
time that it may file for Chapter 11 bankruptcy.


Read more at Reuters.com Bonds News

Mexico's Currency Extends Slide on Concern Over Rising U.S. Interest Rates

(Bloomberg) -- Mexico's peso and local-currency
bonds fell as traders trimmed bets the U.S. Federal Reserve will
cut rates this year, dimming the allure of riskier assets.

The peso today extended last week's 1.8 percent slide after
Federal Reserve Bank of Cleveland President Sandra Pianalto said
inflation in the world's largest economy is ``uncomfortably
high.''


Read more at Bloomberg Currencies News

Wheat Surges to 11-Year High as U.S. Cuts Crop Estimate After Rain Damage

(Bloomberg) -- Wheat rose to an 11-year high in
Chicago as the government lowered its U.S. winter-wheat estimate
after excessive rains delayed the harvest and fostered fungal
diseases.

U.S. farmers will harvest 1.609 billion bushels of winter
wheat, down from last month's forecast of 1.616 billion bushels
and more than last year's drought-damaged harvest of 1.298
billion bushels, the U.S. Department of Agriculture said today.
The average forecast of 12 analysts in a Bloomberg survey was for
1.639 billion bushels. Global stockpiles will fall to the lowest
since 1982, the USDA said.


Read more at Bloomberg Commodities News

Remgro sees FY headline EPS up 35-40 pct

(Reuters) - South African investment holding group Remgro expects full-year headline earnings per share to rise by as much as 40 percent, the company said on Monday.

Remgro said it expected headline EPS -- the key profit measure for South African firms, which excludes non-trading, capital and certain extraordinary items -- to be 35-40 percent higher for the year to end-March.


Read more at Reuters Africa

Crude Oil Rises After Saudi Arabia Curbs July Shipments to Asian Refiners

(Bloomberg) -- Crude oil rose in New York after
Saudi Arabia, the world's biggest exporter, told Asian refiners
that it would curb shipments for a ninth month in July.

Saudi Aramco, the world's largest state oil company, will
cut supplies of its Arab Light and Arab Heavy crude to refiners
in Japan, China and South Korea by between 9.5 percent and 10
percent below their contracted volume, officials said. The
Organization of Petroleum Exporting Countries last year pledged
to cut supplies by 1.7 million barrels a day to support prices.


Read more at Bloomberg Energy News

UPDATE 1-Qwest CEO Notebaert to retire

(Reuters) - Notebaert, 59, said he would step down as CEO and chairman
after the company finds a successor. Qwest shares fell nearly 4
percent.




"The time has come for me to spend more time with family
and focus on other commitments," Notebaert said in a statement.
"I look forward to working closely with the Qwest Board in its
search" for a replacement.


Read more at Reuters.com Bonds News

Takeovers Will Continue to Accelerate Among Mining Stocks, UBS Reports

(Bloomberg) -- Mining-company mergers and
acquisitions will probably accelerate because of a shortage of
``high-quality, long-life, low-operating cost'' operations,
according to UBS AG, Europe's biggest bank by assets.

The rise in consolidation will be assisted by an increase
in money available for takeovers, with U.K. mining companies
expected to generate $76 billion in earnings before interest,
tax, depreciation and amortization next year, UBS analysts led
by London-based Paul Galloway said in a report today.


Read more at Bloomberg Stocks News

Ford, H&R Block, Medivation, Netflix, Penn National: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 9:30 a.m. New York time.

Evergreen Solar Inc. (ESLR US) rose 27 cents, or 3.2
percent, to $8.62. The company has a technology that allows
solar-panel manufacturers to use less silicon to produce energy,
Shawn Kravetz, founder and president of Esplanade Capital LLC,
told Barron's.


Read more at Bloomberg Stocks News

Dollar Advances Fourth Straight Day Against Euro on Economy, Rate Outlook

(Bloomberg) -- The dollar rose a fourth straight
day against the euro on speculation reports this week will
provide further evidence the U.S. economy is strong enough not
to warrant a cut in interest rates this year.

The U.S. currency rose against all of its 16 most active
counterparts except Brazil's real after Bank of Cleveland
President Sandra Pianalto said inflation is ``uncomfortably
high.'' The yen rose versus the euro after the Reserve Bank of
New Zealand sold its currency to stem a rally fueled by
investors borrowing cheaply in Japan.


Read more at Bloomberg Currencies News

Qwest CEO Notebaert says to retire

(Reuters) - The agreement, expiring on March 1, 2011, is for the continued carriage of the analog and digital signals of 37 stations in 23 markets owned or operated by Sinclair, Comcast said in a statement.






Read more at Reuters.com Bonds News

Select Equity says revised bid for Laureate insufficient

(Reuters) - Select Equity said it will not tender its 9.8 percent stake
in Laureate at the revised price.





Read more at Reuters.com Mergers News

Blackstone CEO stake to be worth $7.7 billion

(Reuters) - Schwarzman will own around 23 percent of Blackstone after its public offering, expected in the next few weeks. Should the IPO price in the expected range of $30 per share, Schwarzman's stake would be worth $7.73 billion.




The filing also says Blackstone paid co-founder Peter Peterson $213 million last year and will pay him another $1.88 billion when the firm goes public.


Read more at Reuters.com Business News

James River to be acquired by DE Shaw for $575 mln

(Reuters) - James River, which is based in Chapel Hill, North Carolina,
expects the transaction to close in the second half of the
year, pending shareholder and regulatory approvals.




Read more at Reuters.com Bonds News

UPDATE 1-ShoreTel sees IPO of 7.9 mln shrs at $8.50-$10.50 each

(Reuters) - The company, which provides Internet protocol
telecommunications systems, said it now expects to raise up to
$95.4 million, up from the expected $85 million it had
projected earlier.




The company said it planned to use the net proceeds for
working capital, general corporate purposes and partly to
acquire technology.


Read more at Reuters.com Government Filings News

Dutch Natural-Gas Prices Decline for Fourth Day as Supplies Remain Stable

(Bloomberg) -- Dutch natural-gas prices for next-day
delivery fell for a fourth day as supply for the fuel remained
stable. July gas also fell.

Gas for delivery tomorrow at the Netherlands Title Transfer
Facility fell 2.7 percent to 10.70 euros ($14.28) a megawatt-hour
at 1 p.m. Amsterdam time, according to ICAP Plc. The price equals
$4.19 per million British thermal units.


Read more at Bloomberg Energy News

Impala Platinum to Help Mineworkers Purchase About 3 Percent of Stock

(Bloomberg) -- Impala Platinum Holdings Ltd., the
world's second-biggest platinum producer, will help most workers
at its South African mines together buy about 3 percent of its
stock, valued at about 4.26 billion rand ($587 million).

The company, based in Johannesburg, has made ``capital
contributions of an amount sufficient to finance the
acquisition,'' it said today in an e-mailed statement. The deal
is part of Impala's ``empowerment and transformation
initiative.''


Read more at Bloomberg Emerging Markets News

S.Africa committee stands by maize estimate

(Reuters) - South Africa's Crop Estimates Committee on Monday stood by its latest maize crop forecast, which showed an improved picture of the current harvest, despite reports of severe frost damage.

"We received information from various sources. If the sources included it (frost damage), we will," committee member Rona Beukes told Reuters.


Read more at Reuters Africa

European Carbon-Dioxide Emission Permits Slide as German Power Declines

(Bloomberg) -- European Union carbon-dioxide emission
permits fell for their fourth time in five sessions as German
electricity prices dropped.

Emission permits for delivery in December 2008 fell 38 cents,
or 1.7 percent, to 22.65 euros ($30.23) a metric ton, according to
the European Climate Exchange in Amsterdam at 10:01 a.m. local
time. They've declined 8 percent the latest five sessions
including today.


Read more at Bloomberg Energy News

Credit Flows Into Emerging Markets Up 47 Percent, led by Europe, BIS Says

(Bloomberg) -- Emerging markets received $341
billion of new credit inflows in 2006, up 47 percent from a year
earlier as borrowing increased to a record in developing Europe,
according to the Bank for International Settlements.

Investment and lending have boomed in eastern Europe,
pushing up wages and spurring consumer spending, as eight nations
joined the European Union in 2004 and a further two followed this
year. More than 60 percent of new credit to emerging markets went
to European countries in the last three months of 2006, the BIS
said today in a quarterly report.


Read more at Bloomberg Currencies News

Gold Gains as Investors Bet Recent Fall Overdone; Silver Is Little Changed

(Bloomberg) -- The price of gold rose in Asia as
investors bet last week's decline, the largest fall in more than
three months, was overdone. Silver was little changed.

The spot gold price fell 3.4 percent last week, the biggest
weekly decline since March 2, after the Reserve Bank of New
Zealand and the European Central Bank raised rates. Holding gold
becomes less attractive when interest rates rise because the
metal has no fixed returns.


Read more at Bloomberg Commodities News

Rupee Gains on Speculation Exporters to Convert Foreign-Exchange Earnings

(Bloomberg) -- India's rupee rose on speculation
exporters will take advantage of a slump in the currency last
week to convert their foreign-exchange earnings.

The rupee last week had the biggest drop since the five days
through May 19, 2006. The decline boosts the value of export
earnings in local-currency terms. The descent ended the rupee's
run as the best-performing currency in Asia-Pacific this year,
reducing gains to 8 percent.


Read more at Bloomberg Currencies News

Asian Stocks Rise on Japan's Economic Growth; Mitsubishi UFJ, Samsung Gain

(Bloomberg) -- Asian stocks gained for the first
time in three days after Japan raised its first-quarter growth
estimate for the region's biggest economy.

Mitsubishi UFJ Financial Group Inc., Japan's largest bank,
climbed on expectations stronger growth will boost profits for
domestic businesses. Sony Corp. and Samsung Electronics Co. rose
after a decline in U.S. bond yields damped speculation that the
Federal Reserve will raise interest rates in Asia's largest
export market.


Read more at Bloomberg Stocks News

Gold off 3-month low, Tokyo closes down 0.6 pct

(Reuters) - Spot gold rose to $650.80/$652.30 an ounce at 0635 GMT from $648.20/$649.70 last quoted in New York on Friday and its three-month low of $645.05.




Koji Suzuki, a market analyst at Kazaka Commodity Co. Ltd., said his long-term gold outlook remained bullish.


Read more at Reuters.com Hot Stocks News

New Credit Flow to Emerging Markets Gained 47 Percent in 2006, BIS Says

(Bloomberg) -- Emerging markets received $341
billion of new credit inflows in 2006, up 47 percent from a year
earlier as borrowing increased to a record in developing Europe,
according to the Bank for International Settlements.

Investment and lending have boomed in eastern Europe,
pushing up wages and spurring consumer spending, as eight nations
joined the European Union in 2004 and a further two followed this
year. More than 60 percent of new credit to emerging markets went
to European countries in the last three months of 2006, the BIS
said today in a quarterly report.


Read more at Bloomberg Emerging Markets News

Derivatives Trades on Exchanges Rose 24 Percent to $533 Trillion, BIS Says

(Bloomberg) -- Derivatives traded on global
exchanges rose 24 percent in the first quarter to a record $533
trillion on growing use of interest rate futures, currency
futures and stock index options, the Bank for International
Settlements said today.

The bank, based in Basel, Switzerland, calculates the
figure based on the underlying value of the currency, bonds or
stocks linked to the contracts, or their notional value. The 24
percent increase reflects a rise over the first quarter of 2006,
as well as over the fourth quarter of last year. The previous
record, set in the second quarter of 2006, was $485 trillion.


Read more at Bloomberg Bonds News

Copeinca to buy Peruvian fish firm Piangesa

(Reuters) - Copeinca ASA, a $410 million company which listed its shares
on the Oslo stock exchange in January to get access to cash and
to join a bourse where a number of fish companies are listed,
said Piangesa has three plants and six vessels.




"Copeinca will achieve a very strong geographical coverage
after this acquisition, in line with previously stated
objectives," the company said.


Read more at Reuters.com Mergers News

Oil Trades Little Changed After Falling on U.S. Stockpiles, Rates Concern

(Bloomberg) -- Crude oil was little changed in New
York after falling last week on increasing U.S. stockpiles and
speculation rising interest rates may slow commodity demand.

Oil declined the most in two months on June 8, and gold
and copper tumbled, after a U.S. government report showed
first-quarter labor costs gained more than forecast, increasing
the risk the Federal Reserve will raise interest rates.
Gasoline futures fell 5.2 percent last week as below-average
U.S. fuel stockpiles climbed for a fifth week.


Read more at Bloomberg Commodities News

Shanghai copper tracks LME lower, awaits trade data

(Reuters) - Shanghai copper fell more than 2 percent on Monday, tracking a 4-percent slide in London futures in the previous session as investors waited for data on China's copper trade expected this week.

The most-active August copper contract on the Shanghai Futures Exchange fell 2.15 percent to 62,940 yuan a tonne at Monday's noon break, from 64,320 yuan at the close of trade on Friday.


Read more at Reuters Africa