Persian Gulf Crude Oil Tanker Rates May Rise as Producers Reveal Programs

(Bloomberg) -- The cost of shipping Middle East
crude to Asia on supertankers may extend four days of gains as
oil-producing nations tell companies when to have vessels in
place to load at Persian Gulf ports.

Saudi Arabia, the world's biggest oil producer, Iran, and
the United Arab Emirates this week may release port-loading
schedules for July crude shipments, stoking demand for tankers,
said Per Mansson, a tanker broker for Nor Ocean Stockholm AB, in
an e-mailed note today.


Read more at Bloomberg Energy News

BHP, Teck, Newmont May Have Reduced Copper Processing Fees, Macquarie Says

(Bloomberg) -- Mining companies, including the
world's largest BHP Billiton Ltd., may have reduced fees paid to
smelters for processing raw material into refined copper under
mid-year contracts, according to Macquarie Bank Ltd.

Some agreements on so-called treatment and refining charges,
or TC/RCs, have been reached by miners, including BHP, Teck
Cominco Ltd. and Newmont Mining Corp., the bank said in a report
today. Miners may have lowered fees from previous settlements,
and either excluded or limited ``price-participation'' clauses
allowing smelters to benefit from copper price gains, it said.


Read more at Bloomberg Commodities News

Emirates orders 8 more A380 from Airbus

(Reuters) - Emirates said it had not yet made a decision on its requirement for 100 aircraft in the middle of the market, which pits the Airbus A350 XWB against the faster-selling Boeing 787.




"For the 350 we have to make a decision in the next few months," Emirates Group Chairman Sheikh Ahmed Bin Saeed Al Maktoum told a news conference.


Read more at Reuters.com Business News

European Note Yields Hold Near Six-Year High on Outlook for Key ECB Rates

(Bloomberg) -- European two-year government note
yields held near the highest in more than six years on
speculation accelerating growth in the euro region economy will
prompt central bank officials to keep raising interest rates.

The drop in benchmark debt has also sent 10-year bund yields
to near their strongest since August 2002 as traders add to bets
the European Central Bank will lift borrowing costs twice more
this year. Bonds may extend losses before a report tomorrow
that's expected to show German investor confidence rose to the
highest in a year this month.


Read more at Bloomberg Bonds News

House Prices in London Gain at Slowest Pace in Five Months, Rightmove Says

(Bloomberg) -- London house prices rose at the
slowest pace in five months in June as the cost of a home fell in
more than half of the U.K. capital's boroughs, Rightmove Plc said.

Asking prices increased 0.7 percent from a month earlier to
387,898 pounds ($764,000), half the pace of May, as values fell in
17 of the city's 32 districts, the U.K.'s biggest real-estate Web
site said in a statement today. Gains across the U.K. outpaced
London for the first time since January, with a 0.8 percent
increase in June.


Read more at Bloomberg Currencies News

Yield search takes yen to record low vs euro

(Reuters) - The New Zealand dollar stayed firm despite suspected fresh central bank intervention. The bank entered the market a week ago to knock the kiwi off 22-year peaks versus the U.S. dollar.




Risk appetite was supported by gains in global equities. In currency markets this boosted demand for carry trade investments funded by borrowing in low-yielders like the yen and the Swiss franc. The franc also hit a record low versus the euro.


Read more at Reuters.com Hot Stocks News

South Korean Department Store Sales Fall for Second Month on Lending Clam

(Bloomberg) -- South Korea's department store sales
declined for a second month in May as a clampdown on the housing
market reduced home sales and sapped demand for home appliances
and furniture.

Sales at the nation's three biggest department store chains
dropped 0.1 percent from a year earlier after shedding 2.3
percent in April, the Commerce Ministry said today in Gwacheon,
South Korea.


Read more at Bloomberg Emerging Markets News