Broadcom gets Wells notice from SEC

(Reuters) - A Wells notice gives a company or individual a final chance to convince the SEC not to file charges.




Broadcom, which makes chips for networking gear, mobile phones, video equipment and other communications products, is among dozens of companies being probed by federal authorities for possible manipulation of stock option grant dates.


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Japan's Bonds Post Weekly Gain as Concern Rises About U.S. Subprime Losses

(Bloomberg) -- Japanese bonds posted the first
weekly gain this month amid speculation investors sought the
relative safety of government debt because of losses on
securities tied to U.S. mortgages.

The 10-year yield fell to the lowest since July 11 as U.S.
investment bank Bear Stearns Cos. told investors in its two
failed hedge funds that they will get little or no money back.
Federal Reserve Chairman Ben S. Bernanke said on July 19 that
losses associated with the home loans to people with poor credit
may be as much as $100 billion.


Read more at Bloomberg Bonds News

Dr. Reddy's, Nanya, PICC Property, Playmates: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan, on July 23. This preview
includes news that broke after markets closed. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.

Indonesian cigarette companies: The country increased the
maximum excise tax rate imposed on cigarette makers by two
percentage points to 57 percent from 55 percent, Finance Minister
Sri Mulyani Indrawati said.


Read more at Bloomberg Stocks News

Argentine First Lady Opens Campaign With Video of Hillary, Chavez, Shakira

(Bloomberg) -- Argentine First Lady and Senator
Cristina Fernandez de Kirchner heads into her first day of
campaigning for president, pledging to extend the economic
agenda of her husband that she said rescued the country.

Fernandez, 54, kicked off her campaign last night before a
crowd of 2,000 supporters who watched a video of her featuring
U.S. Senator Hillary Clinton, Venezuelan President Hugo Chavez,
and the Colombian pop star Shakira. Later, the screen in the La
Plata theater displayed her slogan for the Oct. 28 election:
``The Change Has Just Begun.''


Read more at Bloomberg Exclusive News

Credit Risk Surges as Subprime Mortgage Concerns Sap Investor Appetites

(Bloomberg) -- The perceived risk of owning bank
loans, corporate bonds and securities based on the riskiest home
mortgages surged as worries about accelerating subprime losses
caused investors to flee all but the safest assets.

Corporate bond risk rose to a two-year high in the U.S. and
Europe, according to credit-default swap indexes that allow
investors to speculate on the ability of companies to repay
their debt or hedge against the risk they won't. Indexes tied to
the risk of owning high-yield, high-risk loans fell to records,
suggesting demand is deteriorating for leveraged-buyout debt.
Indexes of credit-default swaps on subprime mortgage bonds also
plummeted to new lows.


Read more at Bloomberg Bonds News

Canadian dollar sags in thin trade, bonds rally

(Reuters) - Domestic bond prices took advantage of the absence of any
Canadian data, which lately has painted a picture of a red-hot
economy, and followed U.S. treasuries higher.




The Canadian dollar closed at C$1.0485 to the U.S. dollar,
or 95.37 U.S. cents, down from C$1.0437 to the U.S. dollar, or
95.81 U.S. cents, at Thursday's close.


Read more at Reuters.com Bonds News

Citigroup profit up 18 pct, tops Wall St view

(Reuters) - Revenue rose faster than expenses for a second straight quarter. Credit losses soared, as they have at rival banks. Nearly half of profit and revenue came internationally, where Citigroup has made 10 acquisitions since October.




Chief Executive Charles Prince, nearing the end of his fourth year at the helm of New York-based Citigroup, has been trying to cut costs and boost revenue, especially overseas, amid pressure from shareholders demanding a higher stock price.


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