Sunday, July 8, 2007

Sarkozy May Clash With EU, Trichet Over Plans to Revive France's Economy

(Bloomberg) -- French President Nicolas Sarkozy has
a message for European finance ministers and central bankers
criticizing his plans to revive France's economy: Back off.

Sarkozy, 52, heads to Brussels today to meet officials from
the 12 other nations that share the euro. At the meeting, he
will defend his plan to cut taxes even though they may cause the
budget deficit to exceed government forecasts in 2008.


Read more at Bloomberg Bonds News

Mom and pop to buy more global stocks: study

(Reuters) - By 2025, they will quintuple to nearly $700 trillion with
60 percent of future growth coming from Russia, India and
China, among the top prospect markets.




That is more than twice the growth rate expected from
developed markets like the United States, the study noted.


Read more at Reuters.com Bonds News

Rubber Trades Near Six-Month Low in Tokyo Amid Speculation Supply to Rise

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, were little changed near a six-month low amid
speculation supply will rise after the low production season.

Rubber supply tends to increase after the end of wintering,
or the low production period, in top-producer Thailand.
Plantation work in the Southeast Asian had been disrupted by
rains last month.


Read more at Bloomberg Commodities News

UPDATE 1-ANZ financing China iron pellet plant for CVRD venture

(Reuters) - ANZ said Zhuhai YMP Yueyufeng Iron & Steel Co. Ltd., a joint
venture set up by Zhuhai Yueyufeng Iron & Steel Co. Ltd, Pioneer
Iron & Steel Group and CVRD in 2006, would build the iron ore
pellet plant in the southern Chinese province of Guangdong.




Details of the financing were not immediately available.


Read more at Reuters.com Bonds News

New Zealand Dollar Drops After Moody's Report Says Housing Market to Slow

(Bloomberg) -- New Zealand's dollar dropped after
Moody's Investors Service said the nation's housing market may
slow, eliminating the need for the central bank to raise
interest rates again this year.

There is an ``increased possibility'' of a slowdown in the
country's mortgage market, Moody's said in the report issued
today. New Zealand's currency, known as the kiwi, has gained 11
percent since the start of the year as the central bank
increased the official cash rate three times in a bid to slow
consumer demand, particularly for housing, which it says is
spurring inflation.


Read more at Bloomberg Currencies News

Rural towns struggle in two-speed Britain

(Reuters) - "I want to go to university and stay there, wherever I am."




She is not alone. Thousands of young Britons are deserting rural towns such as Melton in search for opportunity in bigger cities such as London and Manchester.


Read more at Reuters.com Business News

Japan's Bonds Drop for Fourth Day After Machinery Orders Beat Expectations

(Bloomberg) -- Japan's 10-year bonds fell for a
fourth day after government report showed machinery orders rose
for a second month in May, increasing speculation the central
bank will raise interest rates next month.

Yields on benchmark 10-year bonds rose 2 basis points to
1.95 percent as of 9:11 a.m. in Tokyo at Japan Bond Trading Co.,
the nation's largest interdealer debt broker.


Read more at Bloomberg Bonds News

Japanese Exporter, Energy Shares May Gain; Sony May Pace Rise on Weak Yen

(Bloomberg) -- Japanese exporter shares such as Sony
Corp. and Canon Inc. may advance on speculation a weakened yen
will inflate the value of their overseas sales and boost profits.

Energy-related shares including Inpex Holdings Inc. and
Itochu Corp. may also gain after crude oil jumped to a 10-month
high last week.


Read more at Bloomberg Stocks News

Goldman,Morgan Stanley eye Allianz property-paper

(Reuters) - Bidders for the properties, Allianz offices the firm
intends to lease back, include German property company IVG
, Australian financial investor Babcock and Brown
and U.S. real estate investor Tishman Speyer. IVG is
seeking property for a real estate investment trust it aims to
list in 2008, the FTD added.




The second tranche of properties, around 2 billion euros of
German shops and offices that Allianz purchased as an
investment, is likely to be sold by August. Bidders include
Goldman Sachs's Whitehall real estate fund and a similar fund
operated by Morgan Stanley.


Read more at Reuters.com Bonds News

S.African metal, engineering sector set for strike

(Reuters) - About 260,000 South African workers in the metal and engineering sector are due to launch a strike on Monday over a wage dispute, unions said on Sunday.

The open-ended strike will affect more than 9,000 firms, including Bell Equipment and the Scaw Metals Group, owned by mining group Anglo American Plc, Solidarity union chief negotiator Johan Pieterse told Reuters.


Read more at Reuters Africa

S.Korea raises 2007 export, import growth forecasts

(Reuters) - South Korea lifted its forecast for exports on Sunday, expecting annual growth of 12.8 percent in 2007 thanks to overall healthy expansion in the global economy, according to the Ministry of Commerce.

The ministry also raised its forecast for imports growth to 13.9 percent and predicted this year's trade surplus would exceed $15 billion, narrowing from $16.1 billion recorded last year.


Read more at Reuters Africa