Africa energy sector needs reform, funds, IMF says

(Reuters) - Africa's dilapidated energy sector urgently needs reform and fresh investment to combat chronic power shortages which undermine economic growth on the world's poorest continent, a senior IMF official said on Thursday.

The International Monetary Fund's Africa Director, Abdoulaye Bio-Tchane, told Reuters in an interview that many African countries had suffered long-term underinvestment and neglect of their power infrastructure.


Read more at Reuters Africa

Dollar off 3-month high vs yen before US jobs data

(Reuters) - The dollar edged back near a three-month high against the yen on Friday as investors await a raft of U.S. data including a monthly payrolls report later in the session.

The jobs data will provide more clues on whether the Federal Reserve is likely to will keep rates steady at 5.25 percent, after a strong report on regional U.S. business activity on Thursday reinforced such views and gave a boost to the dollar.


Read more at Reuters Africa

Venezuelan Students Plan to March on Congress in Seventh Day of Protests

(Bloomberg) -- Venezuelan students protesting the
closure of the nation's most popular television station plan to
march to the national legislature today as the country's largest
demonstrations in three years extend into a seventh day.

The demonstrations mark the biggest public outcry since
March 2004, when protesters demanded a recall vote on President
Hugo Chavez. Government supporters blamed the opposition for
inciting national protests this week, following Chavez's
decision not to renew the broadcast license of Radio Caracas
Television.


Read more at Bloomberg Currencies News

Dow Jones May Rise as Bancrofts Agree to Consider Murdoch's $5 Billion Bid

(Bloomberg) -- Shares of Dow Jones & Co. may rise
after the controlling Bancroft family ended decades of
resistance to a sale of the company and agreed to meet with
Rupert Murdoch's News Corp. on his $5 billion bid.

``The family has reached consensus that the mission of Dow
Jones may be better accomplished in combination or collaboration
with another organization which may include News Corp.,'' the
Bancrofts said today in a statement.


Read more at Bloomberg Stocks News

Taiwan Dollar Set for Best Week Since December on Central Bank; Bonds Rise

(Bloomberg) -- Taiwan's dollar headed for the
biggest five-day rally since Dec. 1 on speculation the central
bank will stem declines after the currency last week reached a
17-month low. Government bonds advanced.

The currency is set for a second weekly gain after the
central bank yesterday said mutual funds should invest more in
local stocks rather than sending money abroad. The island's
dollar yesterday touched the strongest since March 2.


Read more at Bloomberg Currencies News

Proton Stock Declines on Loss, Report Volkswagen Doesn't Want to Buy Stake

(Bloomberg) -- Shares of Proton Holdings Bhd., a
Malaysian carmaker seeking a partner, dropped after the company
posted its first annual loss in at least 17 years and a report
said that Volkswagen AG isn't interested in buying a stake.

Proton stock fell 1.9 percent to 5.25 ringgit at 9:56 a.m.
in Kuala Lumpur, after dropping as much as 3.7 percent. The
shares have lost 20 percent this year.


Read more at Bloomberg Emerging Markets News

Asian Stocks Rise to Record for Second Day; BHP Billiton, Samsung Advance

(Bloomberg) -- Asian stocks rose to a second
straight record, led by commodity producers as prices of metals
and crude oil rallied.

All 10 industry groups on the Morgan Stanley Capital
International Asia-Pacific Index advanced, helping the regional
benchmark to its biggest weekly gain in more than two months.
BHP Billiton Ltd., the world's largest mining company, rose to a
record, while Inpex Holdings Inc. climbed to a two-week high.


Read more at Bloomberg Stocks News

Bayer, Interhyp, Pfeiffer, ProSiebenSat.1 Media: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index fell 4.49, or 0.1 percent. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. The DAX
advanced 1.5 percent to 7883.04 on the Xetra electronic-trading
system.


Read more at Bloomberg Stocks News

Australia Stocks Gain, Led by BHP, Australia & New Zealand Banking Group

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, rose 0.13 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 8.50 to 6,322.00. Among the stocks in the index, 72
rose, 43 fell and 86 were unchanged.


Read more at Bloomberg Stocks News

Japan's Government Bonds May Fall for a Second Day Before U.S. Jobs Report

(Bloomberg) -- Japan's bonds may fall for a second day
before a U.S. government report forecast to show hiring rebounded
from a two-year low.

Benchmark 10-year bonds in Japan are headed for a weekly
decline on speculation increasing U.S. wages and employment will
support demand for Japanese products in the country's biggest
export market. Government bonds maturing in 10 years or more last
month handed investors the biggest loss in a year, according to a
Merrill Lynch & Co. index.


Read more at Bloomberg Bonds News

Oil May Decline Next Week on Signs Supply Will Meet Demand, Survey Shows

(Bloomberg) -- Crude oil may fall speculation that
U.S. inventories are sufficient to meet the needs of refineries
making gasoline for the peak-demand summer months.

Eighteen of 46 analysts surveyed, or 39 percent, said oil
prices will decline. Fourteen, or 30 percent, said prices will
rise and 14 forecast little change. Last week, 36 percent of
respondents said prices would gain.


Read more at Bloomberg Energy News

Judge awards ex-Tyco executive severance pay

(Reuters) - Richard Power, a former vice president and division chief financial officer, sued the company for breach of contract and about $9 million in severance pay in 2002.




Power, who reported to now-jailed chief executive Dennis Kozlowski, claimed that in a phone conversation, the two agreed, in the event of his termination, Power would receive severance pay equal to the greater of $1.5 million or twice his salary and bonus in his last year of employment.


Read more at Reuters.com Business News

Nippon Sheet Glass, Daikin, Hoya, Pentax, Sapporo: Japanese Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets tomorrow. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

CyberAgent Inc. (4751 JT): The Internet advertising agency
said April sales rose 19 percent to 5.45 billion yen ($44.8
million) from the same month a year earlier. The stock slipped
200 yen, or 0.3 percent, to 77,600.


Read more at Bloomberg Stocks News

Japanese Yen, Philippines Peso, Thailand's Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

FDIC sees some progress on modifying subprime loans

(Reuters) - Federal Deposit Insurance Corp. Vice Chairman Martin
Gruenberg said accounting, tax and legal issues remain before
some subprime loans sold as securities can be modified to help
homeowners facing late payments and foreclosure.




"A successful outcome would require a committed and
concerted effort by servicers and other mortgage industry
participants working together with federal and state
regulators," Gruenberg said at a conference of state banking
officials.


Read more at Reuters.com Bonds News

Harris Corp. to buy privately held Multimax for $400 mln

(Reuters) - The acquisition is expected to add about 8 cents a share in fiscal 2008, the company said in a statement.






Read more at Reuters.com Mergers News

REFILE-US STOCKS-S&P 500 notches record close as M&A spurs gains

(Reuters) - NEW YORK, May 31 - The S&P 500 notched its
second straight record close in seven years on Thursday as
plans for a $6.8 billion takeover in the financial sector and
data pointing to strength in industrial activity underpinned
demand for equities.




Wachovia Corp.'s proposed buyout of A.G. Edwards
Inc. sent shares of brokerages higher, while strong
Midwest manufacturing data boosted shares of industrials,
including United Technologies Corp. and DuPont


Read more at Reuters.com Bonds News

UPDATE 1-Brocade posts sharply lower 2nd-quarter profit

(Reuters) - Excluding items, the company said it had a per-share profit
of 11 cents, topping the average estimate of 9 cents, as
compiled by Reuters Estimates.




Net income was $843,000, or nil per share, for its fiscal
second quarter ended April 28, compared with net income of
$13.5 million, or 5 cents, a year ago.


Read more at Reuters.com Market News

Dollar Posts Biggest Monthly Gain Against Euro in Year on Economic Growth

(Bloomberg) -- The dollar posted its biggest monthly
advance against the euro in more than a year in May as signs of
economic strength reduced the likelihood of cuts in interest
rates by the Federal Reserve.

The U.S. currency rebounded this month from an all-time low
on reports showing gains in new home sales and manufacturing.
The central bank said in minutes of its May 9 meeting released
yesterday that it still expects a pickup in the economy this
year and views inflation as its main concern.


Read more at Bloomberg Currencies News

Dollar rises to 3-month high vs yen

(Reuters) - The manufacturing report also included the highest reading of prices paid by factory managers since August 2006, reinforcing the view the Federal Reserve may keep rates steady this year, and it offset revised data released earlier in the day showing weaker U.S. growth in the first quarter.




"The prices paid index is very high and support the Fed's view that inflation remains a top concern, and at these levels it may be enough to keep pushing back expectations for a rate cut this year," said David Watt, senior currency strategist at RBC Capital Markets in Toronto. "But now the focus is shifting to the payrolls report tomorrow. We are not likely to see a sharp move on the dollar before the jobs data."


Read more at Reuters.com Hot Stocks News

Aventine, Big Lots, Navteq, Verasun Energy, Dendreon: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 2:40 p.m. New York time.

A.G. Edwards Inc. (AGE US) jumped $10.62, or 14 percent, to
$87.77 and traded as high as $90.44. Wachovia Corp. (WB US), the
fourth-largest U.S. bank, agreed to buy the biggest full-service
brokerage based outside New York for about $6.8 billion in cash
and stock. The $89.50-a-share price tag is about 16 percent more
than A.G. Edwards's last close. Wachovia fell 34 cents to $54.21.


Read more at Bloomberg Stocks News

Cattle Futures Rise in Chicago on Unexpected Demand Following U.S. Holiday

(Bloomberg) -- Cattle futures rose in Chicago as
beef demand unexpectedly increased after a long holiday weekend
in the U.S.

Beef sales rose 11 percent compared with a week earlier,
according to U.S. Department of Agriculture data. Demand usually
wanes in the U.S. after Memorial Day, which was May 28, as many
Americans go back to work. This year the demand hasn't fallen off
as much as expected, said Troy Vetterkind, a cattle trader with
e-Hedger in Chicago.


Read more at Bloomberg Commodities News

Carbon Emission Permits Are Little Changed After Sinking to Two-Week Low

(Bloomberg) -- European Union carbon-dioxide permits
were little changed after reaching a two-week low as a drop in
natural-gas prices made it profitable to burn the cleaner fuel
in the U.K. next summer.

Emission permits for delivery in December 2008 fell as much
as 1.82 euros, or 7.9 percent, to 21.15 euros ($28) a metric
ton, according to prices from the European Climate Exchange in
Amsterdam. That's their lowest since May 17. They closed at
23.05 euros, little changed from yesterday, when they fell 8.7
percent.


Read more at Bloomberg Energy News

Dendreon cites data needed by FDA, shares soar

(Reuters) - By Ransdell Pierson



NEW YORK, May 31 - Dendreon Corp. on Thursday said the U.S. Food and Drug Administration has informed it that positive interim or final survival data from an ongoing trial of its Provenge cancer vaccine would satisfy the agency's earlier request for more data, lifting shares 42 percent.


Read more at Reuters.com Government Filings News

UPDATE 1-Ecuador to ask Venezuela for debt info over scandal

(Reuters) - Patino also said he is not under pressure to restructure
the country's foreign debt and does not fear the possibility of
that the U.S. Securities and Exchange Commission could launch
an investigation.




Ecuador's benchmark global bonds were sold in the United
States among other markets and as such needed to be registered
with the SEC.


Read more at Reuters.com Bonds News

Corn, Soybeans Rise as Hot, Dry Weather to Threaten Crops in U.S. Midwest

(Bloomberg) -- Corn futures in Chicago jumped to a
three-week high and soybeans rose to the highest in 35 months on
speculation that dry weather will increase stress on young
plants in the Midwest and reduce yield potential.

Most Midwest fields east of the Mississippi River will
receive less than 50 percent of normal rain in the next five
days as a high pressure system in the southeastern U.S. blocks
storms, said Mike Tannura, a meteorologist for T-Storm Weather
in Champaign, Illinois. Hot weather beginning June 8 will
increase stress on young plants, he said.


Read more at Bloomberg Commodities News

Brazil's foreign minister confident on Doha deal

(Reuters) - Amorim and representatives from India, the European Union
and the United States will hold another round of talks for two
weeks beginning on Friday.




Read more at Reuters.com Bonds News

Equity analysts facing new quant challenge

(Reuters) - Now, with the growth of quantitative analysis, some are facing a worse possible fate: being supplanted by computers.




At an increasing number of Wall Street investment banks, hedge funds and elsewhere, computers are churning out investment analyses culled from enormous pools of data.


Read more at Reuters.com Mergers News

Mitsui, Japan Shipping Shares Lead Rally, Cost Less Than Nikkei Average

(Bloomberg) -- Shares of Japanese shipping lines
have soared 10 times more than the stock market this year. And
they're still cheap, says Toru Kitani, who is putting his money
where his mouth is.

``Growth in emerging markets is solid and demand is strong,
which is good for shipping lines,'' said Kitani, who oversees $3
billion at Sompo Japan Asset Management Co. in Tokyo and owns
``slightly more'' of Mitsui O.S.K. Lines Ltd. than in his
benchmark.


Read more at Bloomberg Stocks News

Canada's Dollar Strengthens to 30-Year High as Growth Exceeds Forecasts

(Bloomberg) -- The Canadian dollar rose to a 30-year
high after a government report showed the economy grew in the
first quarter at its fastest pace in almost two years, gaining
momentum as the U.S. slowed.

The currency rose to 93.53 U.S. cents at 11:50 a.m. in
Toronto from 93.09 U.S. cents yesterday. It touched 93.76 U.S.
cents, the highest since July 28, 1977. One U.S. dollar buys
C$1.0692.


Read more at Bloomberg Currencies News

US bank earnings about steady in 1st quarter-FDIC

(Reuters) - That was off $900 million compared with the same quarter a
year ago and was the fourth-highest income reported by the
industry, the FDIC said.




Earnings "remain solid" despite a slump in housing and a
general tightening of credit, FDIC chairman Sheila Bair said.


Read more at Reuters.com Market News

MasterCard says no change to long-term outlook

(Reuters) - The presentation for investors, filed with the Securities and Exchange Commission on Thursday, said there were no-changes to its three-to-five year performance goals.



Chris McWilton, the company's chief financial officer, said in an investor presentation in February that the company hopes to generate annual revenue growth of 8 to 10 percent, and net income growth of 15 to 20 percent, over the next three-to-five years.


Read more at Reuters.com Bonds News

Leaner Northwest Airlines exits bankruptcy

(Reuters) - Northwest has spent the last year-and-a-half hacking $2.4 billion off its annual costs, mostly from an aggrieved work force. Like other so-called "legacy" airlines, it has been forced to drastically slash its costs to keep pace with newer low-cost carriers and deal with wild spikes in fuel costs.




The company officially relaunched itself as a slimmed-down carrier as Chief Executive Doug Steenland rang the opening bell on the New York Stock Exchange on Thursday.


Read more at Reuters.com Bonds News

China stock gains too fast, yuan may rise: c.banker

(Reuters) - But if China's economic reforms succeed, the yuan may strengthen against the dollar though the country would ignore any external pressure for its currency's appreciation, Wu Xiaoling told a seminar on global imbalances.




"In my view, every market develops in twists and turns. In my view, the Chinese stock market is growing too rapidly. We hope it can grow in a more steady manner," Wu said.


Read more at Reuters.com Hot Stocks News

Gold rebounds, gains 1.3 percent on dollar decline

(Reuters) - Gold bounced back to gain more than one percent on Thursday on short-covering and a decline in the dollar against the euro after key U.S. economic data.

But investors were reluctant to aggressively chase prices higher and the metal continued to hover in a trading range of $650-665 an ounce.


Read more at Reuters Africa

Concessoes Rodoviarias, Sabesp, Vale, Votorantim: Brazilian Equity Movers

(Bloomberg) -- Brazil's main stock index gained for a
second day, led by mining company Cia. Vale do Rio Doce.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 131.02, or 0.3 percent, to a record 52,658.67 as of
9:34 a.m. New York time.


Read more at Bloomberg Stocks News

Midwest business expands strongly in May

(Reuters) - The National Association of Purchasing Management-Chicago business barometer rose to 61.7 from 52.9 in April.




Economists had forecast the index at 54.0. A reading above 50 indicates expansion.


Read more at Reuters.com Business News

Nymex Starts Trading Mideastern Oil Futures in Dubai in Challenge to ICE

(Bloomberg) -- Dubai Mercantile Exchange Ltd., a
venture between the Gulf sheikhdom and Nymex Holdings Inc.,
starts trading Arab oil futures tomorrow to compete with
Intercontinental Exchange Inc. in setting Asian crude prices.

The DME will provide futures contracts based on high-
sulfur, so-called sour crude, to Asian buyers such as refiners.
It was beaten to the start of trading by ICE after delaying the
opening by a month because of regulatory and technical matters.


Read more at Bloomberg Energy News

Bankers concerned about slow Basel implementation

(Reuters) - The IIF, an international association made up of some 360
financial institutions, is holding its annual spring meeting in
Athens.




"In particular, we continue to encourage the U.S. banking
agencies to revise their proposals and to avoid finalising
implementation approaches, which if adopted, would undermine
essential global consistency and risk sensitivity," Maes told a
news conference.


Read more at Reuters.com Government Filings News

Record? S&P 500 Stocks Valued at 45 Percent Discount to Earnings of 2000

(Bloomberg) -- Companies in the Standard & Poor's
500 Index may still be a bargain after the benchmark for U.S.
equities surpassed its 2000 record.

The index's 500 members are 45 percent less expensive
relative to historical profits than when the index last peaked,
and 30 percent cheaper than when it fell to a decade low in
October 2002. Price-to-earnings ratios declined after companies
reported 14 straight quarters of 10 percent-plus profit growth,
the longest streak since 1950.


Read more at Bloomberg Exclusive News

CDO Boom Masks Subprime Losses, Abetted by S&P, Moody's, Fitch Ratings

(Bloomberg) -- The numbers looked compelling. Buy this
investment-grade collateralized debt obligation and you'll get a
return of up to 10 percent, Credit Suisse Group said. That was
almost 25 percent more than the average yield on a similarly rated
corporate bond.

Investors snapped up the $340.7 million CDO, a collection of
securities backed by bonds, mortgages and other loans, within days
of the Dec. 12, 2000, offering. The CDO buyers had assurances of its
quality from the three leading credit rating companies --Standard &
Poor's, Moody's Investors Service and Fitch Group Inc. Each had
blessed most of the CDO with the highest rating, AAA or Aaa.


Read more at Bloomberg Bonds News

QinetiQ posts 17-pct rise in annual profits

(Reuters) - Earnings before interest and taxes rose to 106 million pounds from 90.7 million a year earlier, QinetiQ said in a statement to the London Stock Exchange.



Revenue for the year to March 31, 2007, rose by 9.3 percent to 1.1495 billion pounds.


Read more at Reuters.com Market News

Heinz posts higher 4th-qtr profit, raises forecast

(Reuters) - Net quarterly sales rose 0.6 percent to $2.4 billion, but Heinz witnessed a 4.4 percent growth in sales of its top 15 brands such as Boston Market frozen entrees and Classico pasta sauces.




The company attributed the higher sales to a 44 percent increase in overall marketing spent during the quarter, especially in its North American retail business.


Read more at Reuters.com Market News

Jefferies acquires boutique UK adviser LongAcre

(Reuters) - LongAcre, founded in 2000, specialises in transactions in
the media and Internet sectors.




It recently advised on the $200 million sale of "Who Wants
To Be A Millionaire" televison programme producer Celador and
the $320 million sale of Internet social network Friends
Reunited.


Read more at Reuters.com Mergers News

Ciena, Motorola, Payless, Semtech, Tiffany & Co.: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 7:30 a.m. New York time.

Ceridian Corp. (CEN US) rose $1.41, or 4.1 percent, to
$35.60 in trading before U.S. exchanges opened. . The provider
of human resource and payroll services agreed to be acquired by
Thomas H. Lee Partners LP and Fidelity National Financial Inc.
for $5.3 billion, or $36 a share. ``Some investors were
expecting a larger premium,'' Tien-tsin Huang, an analyst with
JPMorgan Securities Inc., wrote in a note.


Read more at Bloomberg Stocks News

Nigerian oil pipeline protest enters third day

(Reuters) - A protest by villagers at a major oil export pipeline complex in Nigeria entered a third day on Thursday and no crude was flowing through the facility, a protest leader said.

Villagers from K-Dere occupied the pipeline hub at Bomu, which feeds the Bonny shipping terminal, on Tuesday and forced Shell to shut 150,000 barrels per day of output.


Read more at Reuters Africa

China's Stocks Rise, Halting $161 Billion Rout; Banks Gain on Earnings

(Bloomberg) -- China's stocks rose, rebounding from
a rout that yesterday wiped out $161 billion of market value.

The CSI 300 Index gained 41.49, or 1.1 percent, to 3927.95
at the close, having earlier lost as much as 5.2 percent. It
yesterday plunged 6.8 percent, the most since Feb. 27, after the
finance ministry tripled the tax on share trades to cool a rally
was drawing more than 300,000 new investors a day.


Read more at Bloomberg Stocks News

Record? What Record? S&P 500 Shares Are 45 Percent Cheaper Than in 2000

(Bloomberg) -- Companies in the Standard & Poor's
500 Index may still be a bargain after the benchmark for U.S.
equities surpassed its 2000 record.

The index's 500 members are 45 percent less expensive
relative to historical profits than when the index last peaked,
and 30 percent cheaper than when it fell to a decade low in
October 2002. Price-to-earnings ratios declined after companies
reported 14 straight quarters of 10 percent-plus profit growth,
the longest streak since 1950.


Read more at Bloomberg Stocks News

ASML to return $1.3 bln to investors

(Reuters) - AMSTERDAM, May 31 - Dutch chip equipment maker ASML to shareholders in combination with a reverse stock split to optimise its capital structure.



The company said it would finance this with the proceeds from an inaugural Eurobond benchmark issue in the coming weeks, subject to market conditions.


Read more at Reuters.com Bonds News

BHP names S.African-born Kloppers as CEO

(Reuters) - Top global miner BHP Billiton Ltd. named insider Marius Kloppers as its new chief executive, replacing Chip Goodyear, as markets bet on a rash of mega-mergers amid an unprecedented commodities boom.

The widely-expected appointment of the South African-born former management consultant comes at a time when global mining companies are looking at alliances to bolster their position during the China-led surge in demand for minerals.


Read more at Reuters Africa

S&P 500, Dow end at records on Fed's economic view

(Reuters) - The Standard & Poor's 500 closed at its first record high in seven years on Wednesday after minutes from the Federal Reserve's latest meeting reassured investors about the economy's health.

As part of the broad-based rally in the U.S. stock market, the Dow Jones industrial average soared to its 25th record close so far this year, bringing a resounding end to a global equities sell-off sparked by a plunge in China's benchmark share index.


Read more at Reuters Africa

French Consumer Confidence Rises to Record High as Unemployment Declines

(Bloomberg) -- Consumer confidence in France,
Europe's third-largest economy, surged in May to the highest on
record after unemployment fell and Nicolas Sarkozy used the
first weeks of his presidency to push for tax cuts.

Insee, the Paris-based national statistics office, said
today its gauge of consumer sentiment jumped to minus 14 from
minus 20 in April. That beat minus 19, the median forecast of
18 economists surveyed by Bloomberg, and was the lowest since
the agency began issuing the current data in 2003.


Read more at Bloomberg Currencies News

European shares start strongly as E.ON, ASML star

(Reuters) - E.ON, the world's largest utility, said it plans to buy back shares and raise its dividend, sending its stock up 5.6 percent.




ASML rose 4.9 percent after saying it would return about 960 million euros to shareholders in combination with a reverse stock split to optimize its capital structure.


Read more at Reuters.com Hot Stocks News

Bausch & Lomb quarterly profit rises

(Reuters) - Net sales rose to $578.9 million from $546.0 million.




Read more at Reuters.com Market News

Apple says YouTube to be available on Apple TV

(Reuters) - Apple TV works with iTunes to play users' content -- video, movies, television shows and the like -- wireless on a wide-screen television.




"YouTube is a worldwide sensation, and Apple TV is bringing it directly from the Internet onto the widescreen TV in your living room," said Apple Chief Executive Steve Jobs in a statement.


Read more at Reuters.com Business News

CACI says to buy Wexford, no terms announced

(Reuters) - CACI did not disclose terms of the deal, which is set to close before the end of June. It said Wexford's projected annual revenue of about $100 million for this year would add to earnings in CACI's 2008 fiscal year.



) Keywords: WEXFORD CACI/


Read more at Reuters.com Mergers News

UPDATE 2-Argentina gas exports resume to central Chile

(Reuters) - Argentina reopened the natural gas taps after a cold front
on Monday prompted it to completely cut natural gas exports to
central Chile, where the capital, Santiago, is located, forcing
the Andean neighbor to resort to other fuels for industry.




"There is enough arriving to cover commercial
and residential gas needs," Chile Energy Minister Marcelo
Tokman told journalists in Santiago on Wednesday.


Read more at Reuters.com Market News

Brazil supports Zoellick's World Bank nomination

(Reuters) - But Finance Minister Guido Mantega said Brazil, with the largest economy in Latin America, still would like to see changes in the selection process for the leadership of the World Bank and International Monetary Fund.




U.S. President George W. Bush nominated Zoellick to be the new World Bank president earlier on Wednesday, replacing Paul Wolfowitz, who is stepping down over a favoritism scandal.


Read more at Reuters.com Bonds News

AT&T says doesn't need to own satellite TV operators

(Reuters) - Asked about possible mergers and acquisitions, Stephenson said
the "big pieces are in place" domestically, but there could be
such opportunities overseas or in the enterprise segment.




Stephenson spoke at a Sanford Bernstein conference.


Read more at Reuters.com Mergers News

Platinum Futures Fall to Eight-Week Low as Dollar Strengthens Against Euro

(Bloomberg) -- Platinum fell to an eight-week low in
New York amid expectations that recent gains in the dollar
against the euro will cut demand for the precious metal as an
alternative investment. Palladium also declined.

The U.S. currency has gained about 2 percent versus the euro
since touching a record low on April 27. Platinum, traded mostly
in dollars, fell today for the fourth consecutive session,
decreasing 3.3 percent.


Read more at Bloomberg Commodities News

KKR Seeks Record $16 Billion of Covenant-Lite Loans to Buy First Data

(Bloomberg) -- Kohlberg Kravis Roberts & Co. will
seek a record $16 billion of so-called covenant-lite loans to
help fund its buyout of First Data Corp., the world's largest
processor of credit-card payments.

Banks led by Credit Suisse Group agreed to provide a $14
billion seven-year term loan and a $2 billion six-year revolving
credit facility, Greenwood Village, Colorado-based First Data
said in a Securities and Exchange Commission filing yesterday.
The covenant-lite term loan would be the largest of its type.


Read more at Bloomberg Bonds News

RBC Capital Markets says C$ to top 96 U.S. cents

(Reuters) - According to an RBC Capital Markets note on Wednesday, the
Canadian currency will reach C$1.04 to the U.S. dollar, or
96.15 U.S. cents, in the third quarter, up from its previous
forecast of C$1.08, or 92.59 U.S. cents.




The revised forecast by RBC was triggered by a Bank of
Canada statement on Tuesday that signaled an increase in
interest rates in the near term and triggered a rise in the
Canadian dollar to C$1.0688, or 93.56 U.S. cents.


Read more at Reuters.com Bonds News

Biogen, Novacea, Powell Industries, Taser, Joy Global: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 1:10 p.m. New York time.

Biogen Idec Inc. (BIIB US) rose $2.71, or 5.5 percent, to
$51.92 and traded as high as $52.26. The maker of the multiple
sclerosis drug Tysabri began accepting bids in a buyback of as
much as $3 billion in shares. The buyback, which will give Biogen
an additional 16 percent of its 342.6 million shares outstanding,
will be funded by cash and borrowings, Biogen said. The company
will pay stockholders between $47 and $53 a share in the so-
called Dutch Auction.


Read more at Bloomberg Stocks News

CNBC reports "unusual trading" in own contest

(Reuters) - "CNBC has been contacted by several contestants alleging unusual trading in violation of contest rules among some of the 20 finalists," the cable news network said in a statement.




"Once these questions were raised, CNBC immediately launched a thorough investigation to determine who may have violated the rules," it added.


Read more at Reuters.com Business News

Brazil's Stocks Fall After Selloff in China, Led by Usiminas; Walmex Gains

(Bloomberg) -- Brazil's stock index fell for a second
day after a plunge in Chinese shares raised concern that slower
growth will curtail demand for Brazilian exports.

The Bovespa index of the most-traded stocks on the Sao Paulo
exchange fell 504.26, or 1 percent, to 51,208.92 at 11:16 a.m. New
York time. China yesterday tripled the tax on security transactions
sending the Chinese benchmark down 6.8 percent.


Read more at Bloomberg Stocks News

AT&T's new CEO is open to overseas acquisitions

(Reuters) - Chief Operating Officer Randall Stephenson, who will become CEO when Ed Whitacre retires on June 3, said AT&T already had what it needed to compete domestically, signaling that a major acquisition in the United States could be unlikely.




"Internationally there might be opportunistic opportunities over time that will enhance our international product set and capabilities," he told a Lehman Brothers conference.


Read more at Reuters.com Mergers News

Germany May Sell First 30-Year Inflation Bond This Year, Debt Agency Says

(Bloomberg) -- Germany may sell its first 30-year
inflation-linked bond this year, said the head of the Federal
Finance Agency that manages the sales.

The federal government may authorize selling as much as 2
billion euros ($2.7 billion) in the 30-year debt, Managing
Director Gerhard Schleif said in an interview. Alternatively, the
agency could sell its first inflation bond with a 5-year maturity.


Read more at Bloomberg Bonds News

UPDATE 1-Energy, metals boost Canada April factory prices

(Reuters) - Analysts had expected factory prices to climb 0.3 percent
in April, according to a Reuters survey.




Raw materials prices jumped 3.3 percent in April, which
Statscan attributed to gains in mineral fuels and non-ferrous
metals.


Read more at Reuters.com Economic News

Gold firm, but investors cautious ahead of U.S. data

(Reuters) - Spot gold was at 0955 GMT up at $656.50/657.45 a troy ounce from $655.95/656.45 an ounce late in New York on Tuesday. The metal earlier hit a session high of $658.80, more than $7 above last Thursday's nine-week low of $651.30.




Minutes from the Federal Reserve's May 9 meeting are due later on Wednesday. Investors will be watching Thursday's first quarter gross domestic product growth numbers and Friday's non-farm payrolls data -- a key gauge of the economic health.


Read more at Reuters.com Hot Stocks News

Subprime Fiasco Exposes Manipulation by American Mortgage Broker Industry

(Bloomberg) -- Taher Afghani was working for discount
retailer Target Corp. near San Francisco when friends told him about
the riches to be made in California's Mortgage Alley.

It was 2004, and the U.S. real estate market was on fire. Down
in Southern California, a hub for lenders specializing in loans to
people with weak, or subprime, credit, Afghani's pals were making a
fortune pushing risky mortgages on homebuyers. After tagging along
with a buddy on a company trip to Los Cabos, Mexico, Afghani quit
Target, headed south and began hustling loans at Costa Mesa-based
Secured Funding Corp.


Read more at Bloomberg Exclusive News

TREASURIES-Bond prices rise on weak stocks, jobs data

(Reuters) - NEW YORK, May 30 - U.S. government bond prices
gained on Wednesday from a safe-haven bid sparked by falling
global equities and helped by a weak report on private sector
jobs.




Treasuries gained along with euro-zone sovereign debt as
Chinese stocks tumbled 6 percent after Beijing increased taxes
on stock trading in a move to cool surging domestic equity
prices. U.S. stock index futures also pointed to a lower open
for Wall Street.


Read more at Reuters.com Bonds News

Crude Oil Rises on Speculation U.S. Gasoline Supply Gain Won't Cut Deficit

(Bloomberg) -- Crude oil rose in New York amid
speculation that an expected increase in gasoline stockpiles
won't be large enough to reduce a supply deficit.

Gasoline stockpiles gained 1.5 million barrels in the week
ended May 25, according to the median of responses by 15 analysts
before an Energy Department report tomorrow. Supplies in the week
ended May 18 were 7 percent lower than the five-year average for
the period, the department said last week.


Read more at Bloomberg Energy News

European Stocks Retreat on China Concern, Led by LVMH, Standard Chartered

(Bloomberg) -- European stocks dropped the most in
two months after China increased taxes on securities trades,
sparking concern that global shares face another sell-off.

LVMH Moet Hennessy Louis Vuitton SA, Standard Chartered Plc
and BHP Billiton Ltd. led a decline by companies most dependent
for revenue in the world's fastest growing major economy. Total
SA and BP Plc fell after oil slumped yesterday.


Read more at Bloomberg Stocks News

Mauritius economy on track, inflation too high - IMF

(Reuters) - Mauritius is adjusting to the decline in its dominant textiles industry but inflation is still too high, the IMF said Tuesday, adding that the country's central bank should raise interest rates again if warranted.

"While inflation needs to be reduced, and the current account deficit and public debt remain large, (IMF) Directors considered that the economy is on the right track," the International Monetary Fund said in a regular assessment.


Read more at Reuters Africa

China stocks plunge weigh on base metals

(Reuters) - A sharp fall in Chinese metal stocks dragged down prices on Wednesday but analysts said losses were limited as the market sought direction from equities.

China's benchmark stock index tumbled 6.5 percent after the government hiked a share-trading tax in its strongest effort yet to cool rampant speculation.


Read more at Reuters Africa

Zambia firm to boost power to mines, list shares

(Reuters) - Zambia's Copperbelt Energy Company (CEC) will spend $60 million to increase power supply to the African nation's copper mines by 40 percent and plans to list on the Lusaka bourse, a senior executive said on Wednesday.

Hanson Sindowe, the executive chairman of CEC, told Reuters that the firm was upgrading its power distribution equipment and machinery, which was over 50 years old, to maintain supply to the copper and cobalt mines in the southern Africa nation.


Read more at Reuters Africa

China's Stocks Tumble After Government Triples Trading Tax to Cool Rally

(Bloomberg) -- China's stocks tumbled the most in
three months after the government tripled the tax on securities
transactions to cool a rally that's drawing more than 300,000 new
investors a day.

The CSI 300 Index dropped 281.83, or 6.8 percent, to close
at 3886.46 in Shanghai, the biggest fluctuation among markets
included in global benchmarks. The value of local stocks has more
than doubled this year to $2.47 trillion and brokerage accounts
topped 100 million for the first time this week.


Read more at Bloomberg Emerging Markets News

Korean Won Drops on Overseas Funds Tax Break; Peso, Rupiah Slide on China

(Bloomberg) -- South Korea's won fell from a two-week
high after the government cut taxes on earnings from funds that
invest in stocks abroad, as part of efforts to boost outflows and
curb gains in the currency.

The Ministry of Finance and Economy late yesterday said
starting June 1 it will exempt the funds from the 14 percent tax.
A 1.5 percent gain in the won in the past three months, compared
with the yen's 2.5 percent slide, threatens exports by making
them more expensive to overseas buyers relative to Japan's.


Read more at Bloomberg Currencies News

SGS buys two U.S. firms in agricultural sector

(Reuters) - SGS also said it was taking over Mid Iowa Grain Inspection
Inc, which had sales of more than $2.8 million in 2006.




Mid Iowa Grain Inspection Inc is a leading supplier of grain
inspection and grading services in the United States, SGS said.


Read more at Reuters.com Mergers News

UPDATE 1-Sweden's Vin & Sprit joins Chinese baijiu maker

(Reuters) - STOCKHOLM, May 30 - Absolut vodka maker Vin &
Sprit has formed a joint venture with Chinese baijiu producer
JianNanChun in a bid to tap into a $19 billion market for
the domestic spirit, the Swedish firm announced on Wednesday.




The state-owned company, which the government plans to sell,
said it would own 51 percent of the enterprise, which will
initially market and distribute existing JNC baijiu brands
within the premium segment and later launch new products.


Read more at Reuters.com Mergers News

Citigroup Boosts Private Sales of High-Risk Asia Securities to Hedge Funds

(Bloomberg) -- Citigroup Inc., the world's second-
biggest bond underwriter, is arranging more private offerings of
Asian high-risk, high-yield debt to meet increased demand from
hedge funds.

Companies in Asia outside Japan will, for the first time,
raise more from high-yield bonds through private placements than
public sales this year, said Jeremy Amias, head of fixed income,
currencies and commodities for the Asia-Pacific at Citigroup.


Read more at Bloomberg Bonds News

Cantor Fitzgerald Sells BGC to ESpeed for $1.3 Billion to Combine Brokers

(Bloomberg) -- Cantor Fitzgerald LP, the U.S.
securities firm that started as a bond broker, will combine its
ESpeed Inc. and BGC Partners units in a $1.3 billion transaction
that combines the voice and electronic trading divisions.

ESpeed will pay 133.9 million new shares to London-based BGC,
the company said late yesterday in a statement. The shares are
valued at $9.75 each, 6.1 percent more than ESpeed's closing
price yesterday. The combined company will have more than $1
billion of revenue this year, according to New York-based ESpeed,
which had $164 million of revenue last year.


Read more at Bloomberg Bonds News

Google CEO hopes DoubleClick deal closes by yr-end

(Reuters) - Schmidt reiterated Google's hope that it could complete the DoubleClick deal, which is currently the subject of an extended U.S. federal antitrust investigation.




"We are quite convinced that the proposed merger meets all appropriate U.S. laws," he said.


Read more at Reuters.com Business News

Asian shares rise, JGBs fall after Japan data

(Reuters) - A fall in Japan's unemployment rate to a nine-year low reinforced expectations the Bank of Japan will raise interest rates in the coming months, sending Japanese government bonds sliding and lifting the yen from a three-month low against the dollar.




Oil prices rebounded to near $70 a barrel as worries over Nigerian supplies persisted, after falling by $1 on Monday on the early resolution of a strike in the OPEC member country.


Read more at Reuters.com Hot Stocks News

European Stocks May Climb, Paced by ABN Amro, BHP Billiton, Rio Tinto

(Bloomberg) -- European stocks may advance, paced by
ABN Amro Holding NV, after Royal Bank of Scotland Group Plc,
Santander Central Hispano SA and Fortis offered 71.1 billion
euros ($95.6 billion) to buy the Dutch bank.

BHP Billiton, the world's biggest mining company, and Rio
Tinto Plc, the third largest, climbed in Australian trading as
copper rose in Shanghai. Vodafone Group Plc may be active after
reporting a loss that was more than analysts expected.


Read more at Bloomberg Stocks News

Yen rises, strong data boosts BOJ rate view

(Reuters) - The yen rallied from a three-month low against the dollar on Tuesday after upbeat data further stoked expectations that the Bank of Japan will raise interest rates in the coming months.

A drop in Japan's jobless rate to a nine-year low in April and consumer spending figures that beat market forecasts in the same month sent the two-year bond yield to a 10-year high and prompted investors to buy the yen.


Read more at Reuters Africa

Consortium bids 71.1 bln euros for ABN - Fortis

(Reuters) - Consortium member Fortis .



Fortis said the banks expected aggregate estimated cost savings of 4.23 billion euros and estimated profit enhancements from revenue benefits of 1.22 billion euros by the end of 2010.


Read more at Reuters.com Mergers News

China's CSI 300 Index Advances to Record; Developers, Finance Street Rise

(Bloomberg) -- China's CSI 300 Index rose to a record
for a third straight day. Finance Street Holding Co. led
developers higher on expectation a stronger yuan will lure
speculative money into the property market.

``There's a consensus that the yuan will continue to
strengthen,'' said Yan Ji, an investment manager at HSBC Jintrust
Fund Management Co. in Shanghai, which manages about $517 million.
``That's good for property stocks, which are a nice investment
option for speculative money betting on the yuan's appreciation.''


Read more at Bloomberg Stocks News

Cos. look outside developing countries -World Bank

(Reuters) - With growth in developing countries like China and India
outpacing that of wealthy nations, the new phenomenon of
corporate globalization is likely to intensify in the next few
years, the bank's annual Global Development Finance report
said.




"This is shifting the whole landscape of emerging market
finance from a sovereign-based framework to corporate based,"
the report's main author, Mansoor Dailami, told Reuters.


Read more at Reuters.com Bonds News

Euro to Drop to $1.335o as Futures Traders Cut Bets on Gains, Mizuho Says

(Bloomberg) -- The euro may fall to a seven-week low
of $1.3350 against the dollar as investors continue to unwind
bets on the currency, said Michiyoshi Kato, a senior currency
dealer in Tokyo at Mizuho Corporate Bank Ltd.

Hedge funds and other large speculators reduced bets the
euro will rise by 20 percent on May 22 from the previous week,
the biggest decline in three months, figures from the Commodity
Futures Trading Commission in Washington showed. The euro has
dropped 1.2 percent since May 15, when investors were speculating
on the currency's advance in record numbers.


Read more at Bloomberg Currencies News

DaimlerChrysler, Deutsche Telekom, E.ON, Hugo Boss: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets today. Stock symbols are in parentheses after
the company names and prices are from the Xetra close on May 25
unless otherwise stated.

The DAX Index rose 41.82, or 0.5 percent, to 7739.20.


Read more at Bloomberg Stocks News

Japan Shares Climb, Led by Banks on Spending, Jobs Data; Shipowners Gain

(Bloomberg) -- Japanese stocks rose after reports
showed the nation's jobless rate unexpectedly fell to a nine-
year low and households increased spending for a fourth month in
April.

Lenders such as Mizuho Financial Group Inc. gained on
speculation the improving economic data will allow the Bank of
Japan to raise borrowing costs and lenders to increase their
profit margins.


Read more at Bloomberg Stocks News

Toyota's Sales May Grow Five Times as Fast as Forecast in North America

(Bloomberg) -- Toyota Motor Corp., wary of trumpeting
its success while U.S. automakers shut plants and cut jobs, is
downplaying its sales outlook in North America, said analysts and
investors -- who aren't buying it.

The company's sales in the region will grow as much as five
times faster than what the carmaker, poised to become the world's
biggest, predicts for the year ending March 31, according to
analyst estimates. North America accounts for about 60 percent of
Toyota's operating profit.


Read more at Bloomberg Exclusive News

South Korea's Kospi Index Is Little Changed; LG.Philips Gains, Posco Drops

(Bloomberg) -- South Korea's Kospi index was little
changed. LG.Philips LCD Co. gained after CJ Investment &
Securities Co. said earnings will improve ``in earnest'' from the
second quarter on rising panel prices.

Posco fell as some investors saw the recent price gains as an
opportunity to sell.


Read more at Bloomberg Stocks News

Japan's Government Bonds Drop on Jobless Rate, Household Spending Reports

(Bloomberg) -- Japan's bonds dropped after government
reports showed the jobless rate unexpectedly fell to a nine-year
low and households increased spending for a fourth month in April.

Yields on benchmark 10-year bonds rose 1.5 basis points to
1.74 percent as of 8:59 a.m. in Tokyo.


Read more at Bloomberg Bonds News

New Zealand's April Job Vacancies Fall 2 Percent as Economic Growth Slows

(Bloomberg) -- New Zealand job vacancies fell 2 percent
in April from a year earlier, lagging behind an average 8 percent
decline through 2006, according to a government report.

The number of advertised job vacancies slipped to 7,125 last
month, the Labor Department said in a statement published on its Web
site. The department tracks job advertisements in 25 daily
newspapers.


Read more at Bloomberg Bonds News

BHP Billiton, Coles Group, Woodside Petroleum: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed yesterday. Prices are from
yesterday's close unless otherwise stated. Stock symbols are in
brackets after the company names.

The S&P/ASX 200 Index futures contract due in June fell 0.1
percent to 6265 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index added 1.3 percent in New York.


Read more at Bloomberg Stocks News

Mexican 10-Year Bond Yields Drop to One-Month Lows on Slowing Inflation

(Bloomberg) -- Mexican 10-year bond yields fell to
one-month lows on expectations slowing inflation will boost the
allure of peso-denominated assets.

Investors ``are expecting that we are going to see a second
straight month of falling consumer prices,'' said Octavio
Gutierrez, a fixed-income analyst in Mexico City at Banco Bilbao
Vizcaya Argentaria's Bancomer unit. ``The worst part of the
inflation surge is probably behind us.''


Read more at Bloomberg Bonds News

Quebec finance minister in talks on budget impasse

(Reuters) - Jerome-Forget said a dialogue was under way on obtaining
opposition party support ahead of Friday's vote on the budget.
The Action Democratique du Quebec and Parti Quebecois
are opposing the budget presented last Thursday by the
minority Liberal government.




Jerome-Forget did not say which opposition party she was in
talks with. During her speech she repeatedly criticized the
ADQ, but not the PQ.


Read more at Reuters.com Bonds News

Italian Stocks Advance, Paced by Monte dei Paschi and Generali Shares

(Bloomberg) -- Italian stocks advanced, led by Banca
Monte dei Paschi di Siena SpA. The president of the bank's
largest shareholder told Corriere della Sera yesterday that the
company may chose a ``merger partner'' this summer. Assicurazioni
Generali SpA shares also rose.

The S&P/MIB gained 147, or 0.3 percent, to 43,166, after
dropping as much as 0.2 percent earlier. Twenty-two stocks rose
and 18 fell. Futures expiring in June increased 146, or 0.3
percent, to 43,260.


Read more at Bloomberg Stocks News

Chile Santiago retail sales rise 1.7 pct in April

(Reuters) - Retail sales weakened across sectors in the month, the
chamber said, with a contraction of 1.4 percent on an annual
basis in sales of furniture.




Weaker sales were attributed in part to continued problems
with a revamped transit system in the nation's capital.


Read more at Reuters.com Economic News

Brazil Stocks Rise For 1st Time in 4 Days, Led By Gerdau, Usiminas, Vale

(Bloomberg) -- Brazil's main stock index gained for
the first time in four days, led by mining company Cia. Vale do
Rio Doce.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 214.80, or 0.4 percent, to 51,832.77 as of 9:40
a.m. New York time.


Read more at Bloomberg Stocks News

Canadian Dollar Trades Near a 30-Year High Before Tomorrow's Rate Decision

(Bloomberg) -- Canada's dollar traded near a 30-year
high before the Bank of Canada's interest-rate meeting tomorrow,
when policy makers may raise concern over accelerating
inflation.

``Wide-held expectations for the Bank of Canada are that
rates are to be left unchanged once again,'' said Jonathan
Gencher, vice president of foreign exchange sales at BMO Capital
Markets in Toronto. ``The bank is likely to highlight the risk
of inflationary pressures building.''


Read more at Bloomberg Currencies News

Crude Oil Falls in New York as Oil Workers in Nigeria End Two-Day Strike

(Bloomberg) -- Crude oil fell in New York after oil
workers in Nigeria, the biggest producer in Africa, ended a two-
day strike.

The government met union demands for higher pay, Lumumba
Okugbawa, deputy general secretary of the Petroleum & Natural
Gas Senior Staff Association of Nigeria, said in Lagos today.
The West African nation is losing more than 600,000 barrels
of output a day because of violence, kidnappings and damage
to facilities.


Read more at Bloomberg Bonds News

KKR quits group looking at Australia's Coles

(Reuters) - "I can confirm that KKR has joined CVC in withdrawing," a
spokesman for KKR told Reuters.
)




Read more at Reuters.com Mergers News

Slovak Koruna Gains Versus Euro on Expectations Bank to Keep Rates on Hold

(Bloomberg) -- The Slovak koruna rose against the
euro, snapping a five day losing run, on signs inflation will
remain elevated, prompting the central bank to keep interest rates
on hold tomorrow.

A government report today showed April producer prices rose
an annual 2.2 percent. Policy makers at the Slovak central bank
will probably decide to keep the benchmark rate at 4.25 percent
tomorrow, according to all 17 economists in a Bloomberg News
survey. The koruna was the best performer against the euro today
among 72 currencies tracked by Bloomberg.


Read more at Bloomberg Currencies News

Iran Protests U.S. Spying Activities as Ambassadors Meet in Iraqi Capital

(Bloomberg) -- Iran protested U.S. intelligence
activities, saying it discovered spy networks in the country, as
the U.S. and Iranian ambassadors meet today in Baghdad for the
highest-level formal talks between the countries since 1979.

The networks in western, southwestern and central areas of
Iran are an interference in Iranian internal affairs, the
official Islamic Republic News Agency cited Ahmed Sobhani,
director general of the Foreign Ministry's American department,
as saying in Tehran yesterday. Iran wants an explanation from
the U.S. over the issue, he said.


Read more at Bloomberg Bonds News

French Stocks Including Axa, Credit Agricole Advance; EDF Shares Decline

(Bloomberg) -- French stocks including Axa SA and
Credit Agricole SA advanced. Electricite de France SA declined.

The CAC 40 Index rose 6.28, or 0.1 percent, to 6063.77 at
9:04 a.m. in Paris. The SBF 120 Index added 0.1 percent.


Read more at Bloomberg Stocks News

India's Rupee Pares Gain of as Much as 0.8 Percent on Central Bank Sales

(Bloomberg) -- India's rupee pared gains of as much
as 0.8 percent on speculation the central bank sold the currency
after it rose to a nine-year high.

The currency traded at 40.57 a dollar as of 12:04 p.m. in
Mumbai, after reaching 40.285, the highest since May 1998. It
closed at 40.5925 on May 25, according to data compiled by
Bloomberg.


Read more at Bloomberg Currencies News

Venezuela Takes Over Most-Watched TV Network as Police, Protesters Clash

(Bloomberg) -- Venezuela's new state television
channel TVes took control of the country's most-watched network
as protesters accused President Hugo Chavez of seeking to stamp
out voices of opposition to his government.

The new channel began transmitting at 12:00 a.m. local time
(12:00 a.m. New York time), prompting celebrations by Chavez
supporters gathered in Caracas's Morelos Square. Workers at
Radio Caracas Television, shut after Chavez refused to renew its
license, left the channel's Quinta Crespo facilities amid tears
and pledges to fight the decision peacefully and in the courts.


Read more at Bloomberg Currencies News

Palm Oil Rises to Record in Malaysia on Concern Supply Won't Meet Demand

(Bloomberg) -- Palm oil futures in Malaysia rose to
a record on optimism supply won't keep up with increasing demand
from China, the world's biggest importer.

China's imports of the vegetable oil rose 27 percent to 1.6
million metric tons in the first four months of the year, May 25
data from the Beijing-based customs office showed. Shipments
from Malaysia are set for a fourth monthly rise, according to
data released on the same day by independent cargo surveyor
Societe Generale de Surveillance.


Read more at Bloomberg Commodities News

Fortis, Befimmo, Payton Planar, Retail Estates: Benelux Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Benelux markets. Stock symbols are in parentheses after
company names and prices are from the last close.

The Amsterdam Exchanges Index lost 0.51, or 0.1 percent, to
535.48. Belgium's Bel20 Index fell 32.84, or 0.7 percent, to
4671.71. Luxembourg's LuxX Index declined 1.2 percent to 2495.72.


Read more at Bloomberg Stocks News

South Korean Won Declines on North's Missile Test; Taiwan Dollar Rises

(Bloomberg) -- South Korea's won led losses in the
Asia-Pacific region after North Korea test-fired missiles late on
May 25, raising the prospect of sanctions on the communist nation.

The short-range missiles were launched after the close of
won trading in South Korea on May 25. Japanese Prime Minister
Shinzo Abe said his country's patience ``isn't limitless'' and
retains the option of further sanctions. The won slid 1.5 percent
on Oct. 9 after the North tested its first nuclear bomb.


Read more at Bloomberg Currencies News

Indofood Agri Shares Rise After $1 Billion Bid for Rival Palm Oil Grower

(Bloomberg) -- Shares of PT Indofood Agri Resources,
the palm oil unit of the world's top instant noodle maker, rose
after the company agreed to buy rival PT Perusahaan Perkebunan
London Sumatra Indonesia for 9.1 trillion rupiah ($1 billion).

Stock in the Singapore-listed group gained as much as 4.7
percent, to $1.33, and traded at S$1.29 at 10:13 a.m. Indofood
will buy 64.4 percent of London Sumatra from First Durango
Singapore Pte. and other shareholders at 6,500 rupiah a share,
and offer 6,900 rupiah for the rest of the stock, it said May 26.


Read more at Bloomberg Emerging Markets News

US-STANCHART-INDIA

(Reuters) - News of the deal was first reported by India's Economic
Times two weeks ago.




The deal, designed to complement Standard Chartered's
wealth management business in India, was expected to be sealed
within the next few months.


Read more at Reuters.com Business News

Australian Stocks Climb, Led by BHP, Rio Tinto on Metals Prices Increases

(Bloomberg) -- Australian stocks rose, led by BHP
Billiton Ltd. and Rio Tinto Group after prices of metals including
copper and zinc gained, and amid speculation of mergers and
acquisitions in the mining industry.

The S&P/ASX 200 Index climbed 36.20, or 0.6 percent, to
6289.0 as of 10:11 a.m. in Sydney. About 13 stocks gained for
every five that fell.


Read more at Bloomberg Stocks News

Australian Stocks Advance, Led by BHP Billiton on Higher Commodity Prices

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, rose 0.34 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 21.50 to 6,274.30. Among the stocks in the index,
115 rose, 59 fell and 27 were unchanged.


Read more at Bloomberg Stocks News

Japanese Yen, Malaysian Ringgit, Taiwan Dollar: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Barron's says Progressive shares modestly valued

(Reuters) - The report also said Progressive was becoming more aggressive on pricing and premium growth.




"The Street is focused on the genuine near-term challenges. But over a multi-year horizon, Progressive's strong industry position and disciplined management should reward investors nicely," Barron's said.


Read more at Reuters.com Business News

Congo needs new budget to start recovery

(Reuters) - Congo's parliament must approve a long-delayed 2007 budget quickly if the central African nation is to get back on its feet after decades of mismanagement and war, budget minister Alphonse Muzito said on Saturday.

Expectations are high in Democratic Republic of Congo since polls last year elected Joseph Kabila as the country's first democratically-chosen president in more than 40 years, ending a three-year transition following a 1998-2003 war.


Read more at Reuters Africa

FACTBOX-Debate over global warming link to hurricanes

(Reuters) - Recent climate studies suggest that the warming of the tropical Atlantic and Caribbean is due to the increase in greenhouse gas emissions, and that these warmer waters fuel development and intensification of hurricanes, NOAA says.




Warmer sea surface temperatures and moister air provide more energy for showers and thunderstorms that feed hurricanes, pushing more of them into the extreme category, according to computer models cited by the nongovernmental National Center for Atmospheric Research.


Read more at Reuters.com Bonds News

U.S. Stocks Post First Weekly Drop Since March as Utility Shares Decline

(Bloomberg) -- U.S. stocks fell this week,
ending the longest stretch of weekly gains since 2004, as
rising bond yields and lower-than-expected profit forecasts
from technology companies eclipsed some $73 billion in
takeover announcements.

Utilities had the worst performance among 10
industries, led by Constellation Energy Group Inc., on
concern higher bond yields make their dividends less
attractive. Network Appliance Inc., the maker of data-
storage computers, tumbled after saying profit may trail
analysts' estimates.


Read more at Bloomberg Stocks News

EU's ex-colonies deny being rushed into trade deals

(Reuters) - Europe's former colonies do not agree with European anti-poverty campaigners who say poor nations are being forced into new trade deals with the European Union, an African minister said on Friday.

Trade officials from the European Union and the Africa, Caribbean and Pacific (ACP) group of nearly 80 countries drew up a plan on Friday for the final stages of talks on the agreements.


Read more at Reuters Africa

Glaxo's Avandia study in jeopardy

(Reuters) - Drug maker GlaxoSmithKline's medical director said the company's study of the heart risk associated with its Avandia diabetes treatment may be in jeopardy because patients have dropped out following reports of the drug's risks, The New York Times reported on Saturday.

Dr. Ronald Krall told the newspaper he did not know how many of the 4,450 patients in the drug trial had withdrawn but said Glaxo diabetes was worried it may not be able to complete the trial, which is scheduled to run through 2008.


Read more at Reuters Africa

Home Depot looks to mend investor fences

(Reuters) - While that satisfied some critics, governance experts are watching the home improvement chain leader closely as it looks to fill a number of soon-to-be-vacant board seats.




In particular, they say, Home Depot has a chance to become a strong model for corporate governance in the next year, when four of its 11 board members are due to step aside because of age limits.


Read more at Reuters.com Business News

Tyco Withdraws Rights of Bondholders to Approve Breakup; Tender Expires

(Bloomberg) -- Tyco International Ltd., the maker of
ADT security systems, said it took away the right of bondholders
to approve its breakup plan after investors tendered only about
a third of their debt securities.

Some $1.46 billion of the $4.60 billion of bonds governed
by a June 9, 1998, indenture were tendered, and $331.8 million
of $1 billion of notes governed by a separate indenture were
tendered, Bermuda-based Tyco said in a press release today.


Read more at Bloomberg Bonds News

Cocoa Has First Weekly Loss This Month in New York on Rain in Ivory Coast

(Bloomberg) -- Cocoa in New York fell, posting the
first weekly loss this month, on speculation rain in Ivory Coast
will improve prospects for the crop that will be harvested
around October.

The rain will help ``recharge soil moisture'' after dry
weather hit the world's largest cocoa producer earlier this
year, according to Meteorlogix LLC in Woburn, Massachusetts. The
so-called main crop, the larger of two annual harvests, will
flower normally after rains in April and May, the private
forecaster said.


Read more at Bloomberg Commodities News

Cotton Rises to 4-Week High as Demand May Improve for Cheap U.S. Supplies

(Bloomberg) -- Cotton rose to a four-week high in
New York on speculation that the high cost of the fiber in
India, the world's third-largest producer and exporter, will
increase demand for cheaper U.S. supplies.

The cost of cotton in India was about 17 percent higher
than supplies on the New York Board of Trade. U.S. cotton
futures reached a 23-month low on May 14, helping to spur a 22
percent jump in exports of the fiber during the past week.


Read more at Bloomberg Commodities News

FDA review also shows Glaxo diabetes drug risk

(Reuters) - FDA spokeswoman Julie Zawisza stressed that other data conflicted with that finding, and officials still were weighing whether to take any action.




A Cleveland Clinic analysis released Monday said the drug increased the chances of having a heart attack by 43 percent.


Read more at Reuters.com Government Filings News

UPDATE 1-Watchdog puts back Scor offer period for Converium

(Reuters) - Earlier in May, French rival Scor ended a protracted
takeover struggle for Converium after it raised its bid to 3.4
billion Swiss francs .




Converium advised its owners to accept Scor's increased
cash-and-share offer. Scor already held a 32.9 percent in the
group.


Read more at Reuters.com Mergers News

Applebee's chief to push marketing, menu changes

(Reuters) - "It's been a challenging year," Applebee's CEO David Goebel
said at the company's annual meeting here before laying out a
series of new directives. Overland Park, Kansas-based
Applebee's has been hurt by a pullback in consumer spending and
increased competition with other bar-and-grill chains.




In what will be the company's most visible move, Applebee's
will roll out a new advertising campaign next week called
"Grilling Fresh" in conjunction with celebrity chef Tyler
Florence.


Read more at Reuters.com Mergers News

U.S. Stocks Gain on M&A as Coca-Cola, Archstone-Smith Shares Lead Advance

(Bloomberg) -- U.S. stocks posted their biggest gain
this week after Coca-Cola Co. made its largest acquisition and on
speculation that real-estate companies will be the next takeover
targets.

Shares of Coca-Cola climbed the most in the Dow Jones
Industrial Average after the world's biggest soft-drink maker
agreed to buy the maker of Glaceau Vitaminwater for $4.1 billion.
Real-estate shares advanced for the first time in three days
after UBS AG said Archstone-Smith Trust, the No. 2 U.S. apartment
owner, is a potential takeover target.


Read more at Bloomberg Stocks News

European Phone Stocks Rally This Week on Bid Speculation; Glaxo Plunges

(Bloomberg) -- European telecommunications stocks
had their biggest weekly gain since January, lifted by takeover
speculation and better-than-expected earnings. France Telecom SA,
Deutsche Telekom AG and Cable & Wireless Plc climbed.

Shares of health-care companies dragged benchmark indexes
lower, led by GlaxoSmithKline Plc after the drugmaker's top-
selling diabetes treatment was found to raise a patient's
chances of a heart attack.


Read more at Bloomberg Stocks News

Tyco mulling asset sales after breakup

(Reuters) - "We regularly review and will consider the divestiture of underperforming or non-strategic businesses to improve our operating results and better utilize our capital," Tyco Electronics said in its S-1 registration statement.




Each of the three companies has made a separate S-1 filing with the SEC.


Read more at Reuters.com Mergers News

US ITC sees Qualcomm-Broadcom ruling late on Friday

(Reuters) - The ITC has set Friday as a deadline for the decision.
Agency spokeswoman Peg O'Laughlin said in a recorded message
that it probably won't be posted on the agency's Web site until
"late in the day."




Broadcom asked the ITC to impose a ban on U.S. sales of
certain Qualcomm chips and high-speed wireless cell phones that
include those chips.


Read more at Reuters.com Government Filings News

Quebec opposition could force new election

(Reuters) - The parties are mainly opposed to a C$950 million cut in personal taxes promised for Jan. 1, 2008.




Quebec Finance Minister Monique Jerome-Forget said it was
too early to say if she would consider amending the budget to
obtain opposition support.


Read more at Reuters.com Bonds News

BioSante agrees to 2.8 mln share private placement

(Reuters) - BioSante said the net proceeds will be used to continue and
expand its previously announced Phase III clinical program of
LibiGel for treatment of female sexual dysfunction.





Read more at Reuters.com Mergers News

Canadian Stocks Climb, Led by Imperial Oil; Royal Bank Falls on Earnings

(Bloomberg) -- Canada's main stock index rose, led by
energy stocks, as oil prices rose. Royal Bank of Canada shares fell
after the company's earnings missed analysts' estimates.

Imperial Oil Ltd., Canada's largest oil company, rose 75 cents
to C$50.55. Petro-Canada, the country's third-largest oil company,
rose 40 cents to C$54.81.


Read more at Bloomberg Stocks News

Dollar set for fourth straight weekly gain vs euro

(Reuters) - The dollar rose to a six-week high against the euro on Friday, on track for a fourth straight week of gains driven by reduced expectations that the Federal Reserve will trim interest rates this year.

A crop of solid U.S. economic data this month has led investors to price in less than a 50 percent chance the Fed will cut benchmark rates by the end of 2007, in contrast to early this year when more than one cut was fully priced in.


Read more at Reuters Africa

Vodafone, Statoil Earnings, U.S. Manufacturing, GDP: Europe Week Ahead

(Bloomberg) -- Earnings from Vodafone Group Plc,
Statoil ASA and Norsk Hydro ASA are among reports that may move
stocks next week. Data on first-quarter economic growth and
manufacturing in the U.S. may also affect markets.

Exchanges in the U.K., Austria, Switzerland, Hungary,
Germany and the U.S. will be closed Monday.


Read more at Bloomberg Stocks News

Agilysys to buy Innovativ Systems

(Reuters) - The earn-out will be limited to a maximum payout of $90 million, the company said in a statement.




Over the 12 months ended March 31, 2007, Innovativ generated EBITDA of more than $20 million from revenue of about $256 million.


Read more at Reuters.com Mergers News

Aruba Network, Coca-Cola, Gap, Komag, VimpelCom: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:10 a.m. New York time.

Aruba Networks Inc. (ARUN US): The maker of wireless
networking equipment said third-quarter sales were $34.7 million,
up 65 percent from a year earlier. That exceeded the $30.5
million estimate of three analysts surveyed by Bloomberg. The
shares rose 2 cents to $15.16 in regular trading yesterday.


Read more at Bloomberg Stocks News

Business Objects, Nasdaq, NYSE Euronext, VaxGen: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 7:30 a.m. New York time.

Aruba Networks Inc. (ARUN US): The maker of wireless
networking equipment said third-quarter sales were $34.7
million, up 65 percent from a year earlier. That exceeded the
$30.5 million estimate of three analysts surveyed by Bloomberg.
Shares rose 2 cents to $15.16 in regular trading yesterday


Read more at Bloomberg Stocks News

China's CSI 300 Index Gains as Shenzhen Bank Jumps: World's Biggest Mover

(Bloomberg) -- China's CSI 300 Index rose to a high,
completing a record 10th straight weekly gain.

Shenzhen Development Bank Co. jumped by the daily limit as
trading resumed after the bank increased an offer to investors
to make all its stock tradable. Citic Securities Co. advanced
after Guotai Junan Securities Co. said the brokerage's shares
are ``undervalued.''


Read more at Bloomberg Stocks News

Equatorial Guinea delays awarding oil blocks

(Reuters) - Equatorial Guinea, sub-Saharan Africa's third largest oil producer, has delayed awarding 10 new offshore exploration blocks for two months, a source in the country's ministry of mines and hydrocarbons said on Friday.

The West African nation had planned to award the acreage in mid-May, and said it had received interest from a significant number of prospectors in Nigeria, Britain and India.


Read more at Reuters Africa

UPDATE 1-Severstal, Arcelor Mittal part ways in auto sector

(Reuters) - Severstal said in a statement the two companies would pursue
their own separate developments in the automotive sector after
it had completed the purchase of the stake in Severgal, a steel
galvanising line at its main plant in northwest Russia.




Severstal, majority owned by billionaire Alexei Mordashov,
did not say how much it would pay for the stake.


Read more at Reuters.com Mergers News

Russian Crude Oil Shipments Will Probably Decline 6 Percent Next Month

(Bloomberg) -- Russia, the world's second-biggest
oil exporter, will probably ship about 6 percent less crude from
its main terminals in June.

Exporters plan to load an average of at least 2.91 million
barrels a day of Russian Urals crude oil next month at the ports
of Primorsk, Novorossiisk, Gdansk, Odessa, Yuzhny and Tuapse,
according to preliminary schedules received by Bloomberg from
brokers. May shipments from the facilities were planned at 3.08
million barrels a day.


Read more at Bloomberg Energy News

Dollar propped up by strong US data, yen supported

(Reuters) - The dollar ticked up to a six-week high versus the euro on Friday, cheered by strong U.S. housing data the previous session, while falling equity markets boosted the yen.

With the United States and much of Europe shut on Monday for public holidays, trading was likely to be dominated by position squaring as much as by news or data.


Read more at Reuters Africa

Telkom gains from local loop unbundling delay

(Reuters) - Shares in fixed line telecommunications firm Telkom rose over 1 percent on Friday, after South Africa's communications minister said unbundling of the so-called "local loop" -- which links the firm to homes and businesses -- would have to be done in four years.

Communications minister Ivy Matsepe-Casaburri told parliament on Thursday that the local loop unbundling process -- which analysts say is key to competition -- should be completed by November 1, 2011.


Read more at Reuters Africa

Australia's Westpac Banking Raises A$7 Billion in Its Biggest Bond Sale

(Bloomberg) -- Westpac Banking Corp., Australia's
fourth-largest bank, sold A$7 billion ($5.7 billion) of bonds
backed by home loans in its biggest debt sale.

Westpac increased the sale of residential mortgage-backed
securities by 37 percent from A$5.1 billion to meet larger-than-
expected investor demand, said David Lording, the bank's Sydney-
based spokesman. It's the nation's second-biggest sale of such
securities, after Commonwealth Bank of Australia raised A$7.07
in February.


Read more at Bloomberg Bonds News

Two-year JGB yield at decade-high on rate concern

(Reuters) - The Bank of Japan has said it expected prices to show a clear
uptrend in coming months and that the central bank would boost
interest rates in line with growth and price developments.




Since the BOJ ended its super-loose monetary policy in March
2006, it has raised interest rates twice to a decade-high 0.5
percent, and many market players expect a third rate hike to 0.75
percent as early as the July-September quarter.


Read more at Reuters.com Bonds News

Switzerland's Index Declines; Syngenta AG and Holcim Ltd. Lead Retreat

(Bloomberg) -- Swiss stocks dropped, led by Syngenta
AG, a supplier of pesticides and gene-modified seeds, and Holcim
Ltd., the world's second-biggest cement maker.

The Swiss Market Index of the 24 largest and most actively
traded companies fell 16.79, or 0.2 percent, to 9340.23 at 9:09
a.m. in Zurich. The broader Swiss Performance Index retreated
11.62, or 0.2 percent, to 7602.79.


Read more at Bloomberg Stocks News

Indonesia's Government Is `Happy' With Rupiah at About 9,000, Kalla Says

(Bloomberg) -- Indonesia's government is ``happy''
with the rupiah trading at about 9,000 to the dollar, said Jusuf
Kalla, vice president of the largest economy in Southeast Asia.

``We are happy with the rupiah at around 9,000,'' Kalla told
Bloomberg News, after speaking at a conference in Tokyo sponsored
by the Nikkei newspaper. ``We are persisting with our policy of
market stability and market policy with our exchange rate.''


Read more at Bloomberg Currencies News

Euro Reverses Loss Against Yen as German Confidence Reaches 5-Month High

(Bloomberg) -- The euro reversed a loss against the
yen after a report showed German consumer confidence rose to a
five-month high.

GfK AG's sentiment index for June, based on a survey of
about 2,000 people, climbed to 7.3 from a revised 5.7 in May, the
Nuremberg-based market-research company said today. Economists
expected a reading of 6, according to economists surveyed by
Bloomberg News.


Read more at Bloomberg Currencies News

S.Africa to prosecute pension administrators in profits case

(Reuters) - South Africa's Registrar of Pensions will refer all pension administrators who have admitted making secret profits to state prosecutors, the deputy finance minister said on Thursday.

"It is the registrar's intention to refer all the responses received from administrators who admitted to making a secret profit to the national director of public prosecutions for further investigation," Jabu Moleketi told parliament during an annual budget debate.


Read more at Reuters Africa

European Stocks May Decline, Paced by BHP Billiton and Rio Tinto Shares

(Bloomberg) -- European stocks may drop for a second
day, paced by mining companies, after copper in Shanghai fell the
most in a week and gold traded near a two-month low.

BHP Billiton Ltd., the world's biggest mining company, and
Rio Tinto Plc, the third largest, slid in Australian trading.
OMX AB may be active after Nasdaq Stock Market Inc. agreed to buy
Europe's fifth-largest equity market.


Read more at Bloomberg Stocks News

Exxon Plans to Expand Asian, Middle East Chemical Capacity by 50 Percent

(Bloomberg) -- Exxon Mobil Corp., the world's largest
publicly traded oil company, plans to expand capacity to produce
chemicals in Asia and the Middle East 50 percent by 2012.

Asia may account for half of global demand for chemicals by
2015, with China responsible for one-fourth of chemical
consumption, Exxon Mobil Chemical Senior Vice-President Jim
Harris said in Shanghai today.


Read more at Bloomberg Energy News

GM raises convertible bond offering to $1.3 bln

(Reuters) - The offering comes just ahead of crucial labor talks with
the United Auto Workers. GM may be able to use the proceeds for
a strike fund, allowing it to survive at least a short strike,
Lehman Brothers analyst Brian Johnson said. The current
contract with the union expires in September.




The company also said it had priced the offering and
granted the underwriters an over-allotment option to purchase
up to $195 million aggregate principal amount of additional
notes.


Read more at Reuters.com Bonds News

Palm Oil Price Gains for a Third Day After China Reports Surge in Imports

(Bloomberg) -- Palm oil futures in Malaysia, the
world's largest grower last year, rose for a third day after a
report that China's imports of the vegetable oil climbed 27
percent in the first four months of the year.

China, the world's biggest palm oil importer, increased
overseas purchases to 1.6 million metric tons in the January-to-
April period compared with 1.25 million a year earlier,
according to data today from the Beijing-based customs office.


Read more at Bloomberg Commodities News