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 Ronald Krall told the newspaper he did not know how many of the 4,450 patients in the drug trial had withdrawn but said Glaxo diabetes was worried it may not be able to complete the trial, which is scheduled to run through 2008.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