Menu Foods implements rights plan; unaware of bid

(Reuters) - "The adoption of a rights plan is not related to any
specific acquisition proposal or activity, and Menu Foods is
not aware of any takeover bid activity currently underway or
contemplated," the company said.




The rights plan would not hinder "full and fair" offers
that are made to all unitholders, it added.


Read more at Reuters.com Mergers News

Cell Therapeutics files for $150 mln mixed shelf

(Reuters) - Under a shelf registration, a company may sell securities
in one or more separate offerings with the size, price and
terms to be determined at the time of sale.




Read more at Reuters.com Government Filings News

U.S. mortgage rates increase on Friday - BestInfo

(Reuters) - The 30-year mortgage rate with two upfront points increased
1/8 percentage point to 6-1/4 percent.




Rates may stay the same if the mortgage market on Monday
maintains its current direction, BestInfo said.


Read more at Reuters.com Bonds News

Iveco CEO looks for partners in Europe, N. America

(Reuters) - By Katie Reid



ST. GALLEN, Switzerland, June 1 - Italian truck maker Iveco said on Friday it could consider forming a partial partnership in 2008 in North America, a market where it has been looking to expand.


Read more at Reuters.com Mergers News

GM cuts industry U.S. sales outlook for 2007

(Reuters) - Ballew also said he expected light vehicle sales to come in "just under" 16.5 million vehicles in 2007. GM's overall sales forecast includes some heavy-duty trucks that other automakers and analysts typically exclude from their forecasts.




Read more at Reuters.com Business News

Gold Climbs Most in Three Months After European Central Bank Caps Sales

(Bloomberg) -- Gold in New York rose the most three
months on speculation that central banks will slow metal sales
after the European Central Bank said it has no plans to sell
more bullion through September. Silver jumped 2 percent.

The ECB is one of 16 signatories of the so-called Central
Bank Gold Agreement, which allows members to sell no more than
500 metric tons of gold each year. The ECB said today it sold 60
tons since September. The metal fell 6.6 percent to $651.50 an
ounce on May 24 from an 11-month high of $698 on April 20. Some
European central banks sold gold worth $912 million last month.


Read more at Bloomberg Commodities News

Brazil's Real Advances Toward Seven-Year High on Acquisition-Related Buys

(Bloomberg) -- Brazil's real reached an almost
seven-year high on speculation Arcelor Mittal, the world's
largest steelmaker, purchased the currency to buy out minority
shareholders at its local unit.

Luxembourg-based Arcelor said on April 27 it plans to pay
2.92 billion euros ($3.9 billion) for the shares it doesn't own
in Arcelor Brasil SA by June 4. The real pared some gains after
the Brazil central bank announced plans to sell currency swap
contracts at auction today to stem the real's 11.8 percent gain
this year.


Read more at Bloomberg Currencies News

Cattle Futures Fall to Four-Month Low on Slump in Beef Demand; Hogs Drop

(Bloomberg) -- Cattle futures in Chicago fell
to a four-month low as beef demand slowed after the U.S.
Memorial Day holiday. Hog prices also fell.

U.S. meatpackers including Tyson Foods Inc. and
Cargill Inc. cut back their slaughter of animals to 386,000
so far this week, down from 507,000 a week ago. Wholesale
prices for beef loin, the source of most steaks, are down
3.3 percent this week and fell 3.7 percent last week.


Read more at Bloomberg Commodities News

Ford U.S. May sales down 6.8 percent

(Reuters) - Results for Ford include its import brands and some medium- and heavy-duty trucks, and are not adjusted for the extra selling day in April 2007.




Read more at Reuters.com Business News

Oil, Gasoline Climb on Concern U.S. Fuel Demand to Outpace Production Gain

(Bloomberg) -- Crude oil and gasoline rose on
concern that U.S. refiners aren't increasing motor-fuel
production enough to replenish stockpiles.

U.S. gasoline supplies in the week ended May 25 were 6.7
percent lower than the five-year average for the period, the
Energy Department said yesterday. Refineries operated at 91.1
percent of capacity last week, unchanged from the week before.
U.S. gasoline consumption peaks during the summer driving season.


Read more at Bloomberg Commodities News

DaimlerChrysler U.S. May sales up 4 percent

(Reuters) - Sales at its Mercedes-Benz division rose 1 percent to 21,771 vehicles.




The results were not adjusted for an extra selling day in May 2007.


Read more at Reuters.com Business News

Jazz Pharmaceuticals falls in IPO debut

(Reuters) - On Thursday, the biopharmaceutical firm's shares priced at $18, compared with a forecast range of $20 to $21.




The forecast range was initially $24 to $26 before being cut earlier on Thursday, according to an amended filing with the U.S. Securities and Exchange Commission.


Read more at Reuters.com Hot Stocks News

S.African bonds extend losses, rand rangebound

(Reuters) - South African government bonds extended this week's heavy losses on Friday, with yields on the most-traded issue rising to near 8-month highs as an interest rate hike looked inevitable next week.

Yields on the government's R153 bond, due in 2010, reached 8.545 percent earlier in Johannesburg trade -- levels last visited in late October last year. They later settled at 8.525 percent, 11 basis points higher than Thursday's closing levels.


Read more at Reuters Africa

US stock indexes gain as data lifts economic outlook

(Reuters) - U.S. stocks rose on Friday, pushing the Dow industrials to an all-time high, as reports pointing to a recovering economy, including stronger-than-expected job growth, lifted optimism about the outlook for profits.

The number of payroll jobs created by employers in May outstripped Wall Street's forecasts. Data on U.S. manufacturing and consumer sentiment also rose more than forecast.


Read more at Reuters Africa

Senate panel sets hearing on student loans

(Reuters) - The planned sale of Sallie Mae, the nation's largest student loan group, will also be explored at the hearing, the Connecticut Democrat said in a statement, adding that witnesses would be named later.




Read more at Reuters.com Government Filings News

Dollar Rises to Four-Month High Against Yen on Strength in Manufacturing

(Bloomberg) -- The dollar rose to a four-month high
versus the yen and strengthened against the euro after a private
report showed the U.S. manufacturing sector advanced faster than
economists forecast.

The data added to evidence of a rebound in the U.S.
economy, which may reduce the likelihood of a cut in borrowing
costs by the Federal Reserve later this year. The dollar
strengthened earlier today after a government report showed U.S.
job growth accelerated last month.


Read more at Bloomberg Currencies News

May consumer sentiment improves from Apr: U.Mich

(Reuters) - The median forecast on the overall sentiment reading among analysts polled by Reuters was 88.0.




The survey's gauge of current consumer conditions edged up to 105.1 in May from April's final reading of 104.6, while its final measure on consumer expectations was 77.6, a shade higher than 75.9 at the end of April.


Read more at Reuters.com Business News

Crude Oil Futures Rise on Concern Gasoline Supply Gains Won't Trim Deficit

(Bloomberg) -- Crude oil rose in New York amid
concern that U.S. refiners aren't increasing gasoline production
enough to replenish stockpiles.

U.S. gasoline supplies in the week ended May 25 were 6.7
percent lower than the five-year average for the period, the
Energy Department said yesterday. Refineries operated at 91.1
percent of capacity last week, unchanged from the week before.
U.S. gasoline consumption peaks during the summer driving season.


Read more at Bloomberg Energy News

UPDATE 1-Psychiatric Solutions raises 2007 earnings view

(Reuters) - The company now expects to earn $1.44 to $1.47 per share,
excluding any one-time charge related to a tender of senior
subordinated notes, it said in a statement.




Psychiatric Solutions had earlier forecast 2007 earnings to
range from $1.42 to $1.46 a share.


Read more at Reuters.com Mergers News

U.S. Treasuries Fall as Economy Adds More Jobs Than Forecast During May

(Bloomberg) -- U.S. Treasuries declined after a
government report showed the economy created more jobs in May
than economists forecast.

The increase in employment adds to evidence the economy may
be accelerating after a lackluster first quarter. Traders might
reduce bets the Federal Reserve will cut interest rates in 2007.


Read more at Bloomberg Bonds News

Bush's Proposed Climate Talks Won't Bypass UN Negotiations, Official Says

(Bloomberg) -- U.S. President George W. Bush's
proposal yesterday to convene talks between the world's biggest
emitters of greenhouse gases won't bypass existing negotiations
on climate change, a top United Nations official said.

In a speech in Washington yesterday, Bush softened his past
opposition to setting global goals to cut pollution, calling for
talks between the U.S. and major emitters such as India and China
to establish a new framework for when the Kyoto Protocol treaty
on emissions expires in 2012. That prompted criticism from
environmentalists that he was bypassing global talks hosted by
the UN Framework Convention on Climate Change (UNFCCC).


Read more at Bloomberg Energy News

Polish Stocks Lead Gains in Central Europe; Bank Pekao, Millennium Climb

(Bloomberg) -- Polish stocks gained for a second day,
pacing an advance in central Europe, on speculation the fastest
economic growth in the country in a decade will boost company
earnings.

Bank Pekao SA gained the most in more than four months after
ING Wholesale Banking recommended buying shares of the country's
second-largest bank. Bank Millennium SA surged to the highest in
more than seven years after the unit of Banco Comercial Portugues
SA boosted its profitability goals.


Read more at Bloomberg Stocks News

Softbank to Sell $410 Million of Bonds After S&P Boosts Rating, People Say

(Bloomberg) -- Softbank Corp., a Japanese
telecommunications group controlled by billionaire Masayoshi Son,
is selling about 50 billion yen ($410 million) in bonds as its
credit rating was raised, four people with knowledge of the
offering said.

Japan's third-largest mobile-phone operator hired Daiwa
Securities SMBC Co. and Mizuho Securities Co. to handle the sale,
the people said, asking not to be identified because the
information isn't public.


Read more at Bloomberg Bonds News

Fed's Kroszner says inflation still his main worry

(Reuters) - A copy of his speech was made available to media in Washington prior to delivery.




"The high level of resource utilization continues to have the potential to put additional upward pressure on inflation. And, of course, higher oil prices and the possibility of further increases also pose an upside risk to inflation," he told the spring membership meeting of the IIF.


Read more at Reuters.com Business News

GLOBAL MARKETS-Equities rise ahead of key U.S. jobs data

(Reuters) - The dollar firmed against the euro and yen. Bonds were flat.




U.S. non-farm payrolls for May were
expected to show an increase of 130,000 jobs compared with
88,000 jobs created in April.


Read more at Reuters.com Bonds News

Automotive Components Shares Rally in First Day of Trading in Warsaw

(Bloomberg) -- Shares of Automotive Components Europe
SA, a maker of parts for disc brakes, jumped on their first day
of trading in Warsaw amid a boom in initial public offerings.

The shares climbed as much as 9.8 percent to 22.50 zloty and
traded at 21.50 zloty at 9:34 a.m. in Warsaw from the initial
public offering price of 20.50 zloty.


Read more at Bloomberg Stocks News

Germany's DAX Index Climbs; Infineon, Metro and RWE Lead Shares Higher

(Bloomberg) -- German stocks advanced, led by
Infineon Technologies AG, Metro AG and RWE AG.

The benchmark DAX Index rose 31.01, or 0.4 percent, to
7914.05 as of 9:06 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies also climbed 0.4 percent.


Read more at Bloomberg Stocks News

BP May Lose License to $18 Billion Siberian Gas Field as Putin Cracks Down

(Bloomberg) -- BP Plc's Russian venture may lose its
license today to a Siberian field with enough natural gas to
supply Asia for five years as President Vladimir Putin cracks
down on foreign energy projects.

The Natural Resources Ministry's license-revocation
committee should annul BP's permit for the $18 billion Kovykta
field when it meets later today, said Oleg Mitvol, deputy head
of the ministry's environmental inspectorate.


Read more at Bloomberg Energy News