European Stocks May Decline; Shares of Barclays, Credit Suisse Might Fall

(Bloomberg) -- European stocks may retreat after
U.S. and Asian equities fell. Barclays Plc and Credit Suisse
Group may drop after their U.S.-traded securities declined.

France Telecom SA may be active as the French government
sells as much as 3.8 billion euros ($5.1 billion) of the nation's
largest phone company. Shares of Cumerio NV, owner of the biggest
copper smelter in southeastern Europe, may be active after
Germany's Norddeutsche Affinerie AG agreed to buy the company.


Read more at Bloomberg Stocks News

REUTERS SUMMIT-S'pore GIC eyeing Russia, Vietnam, Turkey

(Reuters) - "The trend of wealth creation is shifting from the West to
the East and if you are positioning your strategy over the long
term, your strategy over the last 10 years would be different
for the next 10 years," said Seek Ngee Huat, president of GIC
Real Estate, speaking at the Reuters Real Estate Summit in
Singapore.




He said GIC had begun to "explore" Russia, Turkey and
Vietnam and was also looking to make significant investments in
India, where it last week announced a joint venture with
Mumbai-based property firm Runwal to build a $62 million mall.
He did not say how much investment might flow to those
countries.


Read more at Reuters.com Bonds News

Taiwan's Bonds Gain on Reduction in Debt Sales; Currency's Advance Stalls

(Bloomberg) -- Taiwan's 10-year bonds rose after
the Ministry of Finance said it will reduce debt sales next
quarter. The island's dollar was little changed.

The government plans to sell NT$80 billion ($2.4 billion)
to NT$90 billion of bonds in the three months to Sept. 30, the
finance ministry said June 23 in a statement on its Web site.
That's less than the NT$110 billion the government sold in the
July-to-September period last year.


Read more at Bloomberg Bonds News

Bernanke Stumbles as Lawmakers Bash Fed for Inaction on Consumer Lending

(Bloomberg) -- Federal Reserve Chairman Ben S.
Bernanke is a hero on Wall Street; the same isn't true in
Washington.

Sixteen months after succeeding Alan Greenspan, the
chairman has managed to avert recession despite a housing
collapse and keep inflation drifting lower in the face of $70
oil. At the same time, his relations with Congress are souring
as lawmakers threaten to strip some of the Fed's authority to
punish it for what they see as lax credit regulation.


Read more at Bloomberg Currencies News

Sinopec Shares Decline After Chairman Chen Resigns for `Personal Reasons'

(Bloomberg) -- Shares of China Petroleum & Chemical
Corp., Asia's largest refiner, fell after Chairman Chen Tonghai
resigned. Declines may be curbed because Chen's departure may
have limited impact on the company's operations, analysts said.

The stock dropped as much as 2.5 percent to HK$8.82 and
traded at HK$8.97 at 10:33 a.m. in Hong Kong. Shanghai-traded
shares in the company, known as Sinopec, fell as much as 5.5
percent to 13.51 yuan.


Read more at Bloomberg Emerging Markets News

Vietnam Will Weaken Dong as Much as 1% a Year, Deputy Prime Minister Says

(Bloomberg) -- Vietnam will extend its policy of
weakening the dong by as much as 1 percent a year to boost the
country's exports, Deputy Prime Minister Nguyen Sinh Hung said.

The State Bank of Vietnam, the country's central bank, has
engineered about 1 percent depreciation against the dollar in
each of the last three years to promote overseas shipments and
economic growth. Central bank selling of the dong may counter
demand for the currency from overseas investors buying shares in
the nation's companies.


Read more at Bloomberg Currencies News

Xstrata Starts Study of Wandoan Thermal Coal Mine in Northern Australia

(Bloomberg) -- Xstrata Plc, a miner of coal and
metals, started investigations into the feasibility of
developing an open-cut thermal coal mine at Wandoan in
Australia's Queensland state.

The proposed mine may have initial production of more than
20 million metric tons a year and an expected life of 30 years,
Zug, Switzerland-based Xstrata said today in an e-mail statement.


Read more at Bloomberg Commodities News

Japan's Stocks Drop, Led by Sony, Exporters on U.S. Concerns, Takeda Gains

(Bloomberg) -- Japanese stocks declined, led by
companies relying on U.S. sales such as Sony Corp., on concern
losses from the faltering subprime market there will be worse
than expected.

The Standard & Poor's 500 Index dropped by the most since
early March last week after the near collapse of a Bear Stearns
Cos. hedge fund spurred speculation investors will have to write
down the value of securities containing subprime mortgages. The
U.S. has been the largest overseas market for Sony.


Read more at Bloomberg Stocks News

Lone Star in talks with several to sell KEB: paper

(Reuters) - Lone Star sold on Friday a 13.6 percent stake in KEB and two South Korean firms for a total of $2.3 billion.




The fund scrapped a $7.3 billion deal last year to sell KEB to Kookmin Bank amid a legal dispute with regulators over its $1.2 billion purchase of a majority of KEB in 2003.


Read more at Reuters.com Business News

Coles, James Hardie, Mirvac, Telstra, Wesfarmers: Australia 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 September fell
1 percent to 6331 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index dropped 1.1 percent in New York.


Read more at Bloomberg Stocks News

KarstadtQuelle hires banks to sell property-paper

(Reuters) - Last week, the tourism, department store and mail-order
group had said it could merge its department store division
with a rival as a prelude to a separate stock market listing
for the unit within 18 months.




In March 2006, KarstadtQuelle sold its property portfolio
for 4.5 billion euros, more than three times its book value, to
a joint venture owned 49 percent by itself and 51 percent by
Whitehall, a Goldman Sachs property fund.



Read more at Reuters.com Mergers News

Automakers eye U.S. House after Senate fuel fight

(Reuters) - "Major changes are still needed to make this bill
achievable," Ford Motor Co. government affairs Vice
President Bruce Andrews said.




The Senate measure, the first major rewrite of efficiency
goals in 30 years, would require the U.S. vehicle fleet of
passenger cars, sport utilities, pickups and vans average 35
miles per gallon by 2020, a 10 mpg improvement over today's
standards.


Read more at Reuters.com Government Filings News

RPT-Wall St Wk Ahead: Fed meeting, subprime jitters on tap

(Reuters) - NEW YORK, June 24 - One of Wall Street's oldest
maxims will be put to the test this week: markets don't hit
bottom on a Friday.




Stocks closed out their worst week in more than three
months on fears that trouble at two Bear Stearns hedge funds
may signal bigger problems ahead for credit markets.


Read more at Reuters.com Bonds News

UPDATE 1-Japan's Bull-Dog OK's poison pill for Steel Partners

(Reuters) - TOKYO, June 24 - Shareholders of Japan's Bull-Dog
Sauce approved a "poison pill" scheme that will allow
the sauce maker to issue new shares aimed at thwarting a $260
million takeover attempt by U.S. hedge fund Steel Partners.




If enacted, it would be the first time in Japan that a
company has used an anti-takeover defence to dilute a would-be
acquirer's stake, setting a precedent for the hundreds of other
firms building up similar defences, commonly called poison
pills.


Read more at Reuters.com Mergers News