US STOCKS-Futures fall as rate worries gather steam

(Reuters) - NEW YORK, June 7 - U.S. stock index futures
indicated a lower start for Wall Street on Thursday after
yields on Treasuries debt securities rose above 5 percent,
stirring worry about interest rates.




The spring rally in stocks has sputtered in the past two
days as worries about inflation and higher interest rates crept
back to the forefront of investors' concerns. Higher rates
discourage consumer spending and crimp profit margins.


Read more at Reuters.com Bonds News

Philadelphia investor Tierney eyes Dow Jones

(Reuters) - "We don't believe News Corp. is overpaying," Tierney, who
led an investor group that bought the Philadelphia Inquirer and
the Philadelphia Daily News last year for $515 million, said in
a statement. "This is one of the greatest journalistic
enterprises ever created."




He added, "If there is a process for the sale of the
business we would be inclined to participate in partnership
with others."


Read more at Reuters.com Mergers News

RPT-UPDATE 1-Strong shipments boost Agricore results

(Reuters) - TORONTO, June 7 - Agricore United , or 3 Canadian cents a share, for the quarter
ended April 30, against a year-earlier loss of C$8 million, or
18 Canadian cents a share.


Read more at Reuters.com Market News

Target May same-store sales up 5.8 pct

(Reuters) - Analysts, on average, were expecting it to report a gain of 5.9 percent, according to a Reuters survey. The company had forecast May same-store sales to rise between 5 percent and 7 percent.



Sales for the four weeks ended June 2, rose to $4.325 billion from $3.929 billion a year earlier.


Read more at Reuters.com Market News

Crude Oil Is Little Changed as Cyclone Gonu Weakens on Approach to Iran

(Bloomberg) -- Crude oil was little changed as
Cyclone Gonu weakened approaching the Iranian coast, reducing
concern that shipments from OPEC's second-biggest producer will
be disrupted.

Gonu is dissipating over water near Iran with winds at 64
kilometers per hour (40 miles per hour), the U.S. Navy said.
Ships continued to pass through the Strait of Hormuz, a waterway
at the mouth of the Persian Gulf, Associated Press reported,
citing Suresh Nair of the Gulf Agency Co. shipping firm. At least
a quarter of the world's oil supplies pass through the strait.


Read more at Bloomberg Commodities News

Warner Music, AnywhereCD settle dispute

(Reuters) - The maker of recreational vehicles and manufactured housing reported a loss of $29.9 million, or 47 cents a share, compared with a profit of $1.4 million, or 2 cents a share, a year ago.






Read more at Reuters.com Mergers News

Retailers say better weather warms sales

(Reuters) - But several specialty apparel chains posted sales gains that missed analysts' estimates, due in part to weak sales of women's clothes.




Wal-Mart Stores Inc. , the world's largest retailer, said sales at stores open at least a year rose 1.1 percent in May, excluding fuel sales. Including fuel, sales rose 1.3 percent as weakness in apparel and home goods was offset by strength of lawn and garden goods, live plants and groceries.


Read more at Reuters.com Business News