Gazprom Postpones Sale of Bonds, Fitch Withdraws Credit Ratings on Debt

(Bloomberg) -- OAO Gazprom, Russia's natural-gas
monopoly, postponed a planned sale of bonds prompting Fitch
Ratings to withdraw assigned grades for the debt.

More than 50 companies from U.S. carmaker Chrysler to
Kohlberg Kravis Roberts & Co.'s Alliance Boots Plc postponed or
reworked debt sales since mid-June as investors shun riskier
assets amid concern that U.S. subprime mortgage-related losses
will spill into other parts of the debt markets.


Read more at Bloomberg Bonds News

German Stocks Advance, Led by MAN on Earnings; DaimlerChrysler, BMW Rise

(Bloomberg) -- Germany's benchmark DAX Index rose,
heading for the biggest one-day gain in more than two weeks. MAN
AG shares paced the advance after Europe's third-largest
truckmaker reported its 16th consecutive profit increase.

Shares of DaimlerChrysler AG and Bayerische Motoren Werke
AG, the world's biggest luxury carmakers, also climbed.


Read more at Bloomberg Stocks News

German Stocks Advance; Deutsche Bank, MAN AG, DaimlerChrysler Lead Gains

(Bloomberg) -- German stocks advanced, led by
Deutsche Bank AG, MAN AG and DaimlerChrysler AG.

The benchmark DAX Index added 92.86, or 1.3 percent, to
7549.17 as of 9:10 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies climbed 1.3 percent.


Read more at Bloomberg Stocks News

U.S. credit market sells off on pulled financings

(Reuters) - Spooked by pulled financings for the buyouts of DaimlerChrysler AG's Chrysler and Alliance Boots, investors scrambled out of riskier bonds, with the brokerage sector and junk bonds taking the worst hits, traders said.




In the junk bond market, buyers vanished and actively traded bonds went into free fall, with some benchmark auto bonds down five points on the day.


Read more at Reuters.com Business News

TREASURIES-Bond prices little changed as stocks recover

(Reuters) - Trade was choppy, reflecting large swings in the equities
market. Sentiment was torn between credit concerns -- sparked by
news that Chrysler Corp. had postponed a $12 billion auto loan
deal -- and strong profits. For details see [.N].




That left Treasuries indecisive, although benchmark yields
briefly dipped to a seven week low.


Read more at Reuters.com Bonds News

Chrysler says closing of Cerberus deal very close

(Reuters) - LaSorda also said Chrysler, now the No. 4 automaker in the U.S. market, needs to close a gap in hourly labor costs with Japanese rivals making vehicles in the U.S. market.




Chrysler says its U.S. hourly labor costs, including health care, are some $30 per hour higher than equivalent costs for Japanese automakers led by Toyota Motor Corp. .


Read more at Reuters.com Mergers News

Ford to receive bids for Jaguar, Rover: reports

(Reuters) - Others that may bid for Jaguar and Land Rover include Ripplewood Holdings, a group headed by Thomas Stallkamp, former president of Chrysler, according to the report.




One Equity Partners, whose senior partners include Jacques A. Nasser, the former chief executive of Ford, may also take part in the opening round of bids.


Read more at Reuters.com Business News

WRAPUP 3-U.S. housing sector, factory orders sag in May

(Reuters) - WASHINGTON, July 3 - Pending sales of existing
U.S. homes hit the lowest level in more than five years in May
and factory orders dipped modestly, according to data on
Tuesday that suggested the economy was struggling.




In addition, Ford Motor Co. , Chrysler Group and
General Motors Corp. reported lower U.S. sales for June
as high gas costs, fierce competition and the housing slump
took a toll on the industry.


Read more at Reuters.com Economic News

EU approves Cerberus purchase of Chrysler

(Reuters) - DaimlerChrysler agreed in May to sell most of its stake in the money-losing Chrysler Group and its related financial services business to Cerberus.




The deal, which is expected to close in the third quarter, still needs approval from the U.S. authorities.


Read more at Reuters.com Government Filings News

Senate close to deal on auto fuel efficiency

(Reuters) - Negotiators haggled over final details of an agreement based on a bi-partisan proposal that still left automakers and their allies in Congress dissatisfied, according to lawmakers familiar with the talks.




Struggling General Motors Corp., Ford Motor Co., and DaimlerChrysler AG's Chrysler Group lobbied fiercely for compromise legislation that would reform the 30-year-old Corporate Average Fuel Economy, or CAFE, program.


Read more at Reuters.com Government Filings 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