U.S. Congress could move quickly on Blackstone bill

(Reuters) - Backers of the bill were expected to spend the immediate future weighing reaction to it, with an eye on the narrowing window for legislation ahead of a scheduled August recess and the 2008 election campaigns kicking into high gear.




An aide to Montana Democratic Sen. Max Baucus, one of the bill's co-authors, said, "There's no immediate timetable for action, but we'll move forward as appropriate."


Read more at Reuters.com Business News

U.S. Stocks Rally, S&P 500 Rises Most in Eight Weeks; GM, Alcoa Pace Gains

(Bloomberg) -- U.S. stocks rallied and the
Standard and Poor's 500 Index posted its best weekly gain
since April after bond yields fell from a five-year high
and the Federal Reserve said the economy is growing without
fueling inflation.

General Motors Corp., Alcoa Inc. and Intel Corp.
helped push the S&P 500 and Dow Jones Industrial Average to
within 0.5 percent of records. Exxon Mobil Corp., the
world's largest oil company, led energy shares to the best
gain among 10 industry groups in the S&P 500 as crude
prices climbed to the highest since September.


Read more at Bloomberg Stocks News

UPDATE 3-US approves new drug for severe lung disease

(Reuters) - WASHINGTON, June 15 - A new pill for a
debilitating and often life-threatening lung disease won
approval from U.S. health officials on Friday.




Letairis from Gilead Sciences Inc. received Food
and Drug Administration clearance for treating pulmonary
arterial hypertension, or PAH.


Read more at Reuters.com Government Filings News

RPT-UPDATE 2-Colombia cenbank says raises key rate to 9 pct

(Reuters) - The raise was the seventh consecutive month that the bank
increased rates to curb inflation to within its targeted 2007
range of between 3.5 and 4.5 percent for this year. Colombian
inflation was 4.48 percent in 2006.




The bank also unified its marginal reserve requirements on
banks at 27 percent and its ordinary reserves at 8.3 percent on
checking and saving accounts in what analysts said was another
policy aimed at restricting liquidity, slowing the economy and
curbing inflation.


Read more at Reuters.com Economic News

Stronger earnings outlook may lift stocks

(Reuters) - If corporations signal that business conditions are looking better for the rest of the year, analysts probably will ratchet up earnings forecasts for the second half.




"Those earnings are going to come in better than we thought, we just don't know by how much," said Carol R. Miller, senior vice president and senior portfolio manager at Federated Investors in Pittsburgh.


Read more at Reuters.com Business News

Chile stocks again close at record; peso gains

(Reuters) - The all-market IGPA index rose 0.16 percent to
14,651.47 points, while the trade-weighted blue-chip IPSA index
advanced 0.25 percent to 3,380.13 points.




Chilean stocks were bolstered along with global markets by
tame U.S. inflation data on Friday and by the Chilean central
bank's decision on Thursday to hold the benchmark interest rate
at 5 percent.


Read more at Reuters.com Bonds News

Disney, Fortress, Nvidia, Sherwin-Williams: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. New York time.

Shares of some manufacturers of lead paint advanced after
Sherwin-Williams Co. (SHW US) and other companies won dismissal
of a lawsuit by cities and counties in New Jersey that claimed
the companies' products endangered public health.


Read more at Bloomberg Stocks News