Oil dips; US gasoline pipeline, Nigeria truce eyed

(Reuters) - Oil prices ebbed on Monday after three days of gains as a major U.S. gasoline pipeline resumed pumping and some Nigerian militants called a one-month truce, although analysts saw little to suggest an end to 18 months of violence.

London Brent crude, current seen as a better gauge of global oil markets, fell 31 cents to $68.76. U.S. light, sweet crude fell 40 cents to $64.68 a barrel by 0143 GMT, ending a three-day rally that was capped by a $1 surge on Friday.


Read more at Reuters Africa

U.K. Pound May Decline on Signs Rate Increases Are Starting to Take Hold

(Bloomberg) -- The U.K. pound may decline on
indications four interest-rate increases since August are starting
to take effect in Europe's second-largest economy.

The currency logged a weekly drop versus the dollar and the
euro last week after reports signaled a cooling in Britain's
property market. A separate report later today may show U.K.
construction contracted in May. Bank of England policy makers also
announce their monthly decision on interest rates this week.


Read more at Bloomberg Currencies News

Singapore Airlines Chief Executive Chew Sees `Potential' in China Eastern

(Bloomberg) -- Singapore Airlines Ltd., in talks to
buy a stake in China Eastern Airlines Corp., sees 'potential' in
the carrier, said Chief Executive Officer Chew Choon Seng.

``The promise is there. It's a question of rising to the
challenge,'' Chew said on the sidelines of a conference in
Vancouver today. He refused to say when talks are likely to be
concluded, and declined to confirm or deny reports that parent
Temasek Holdings Pte was also taking part in the discussions.


Read more at Bloomberg Emerging Markets News

Gold retreats from recent rally

(Reuters) - On Friday, gold climbed as high as $671.95, the highest since May 16, as a rise in crude oil prices and a faster-than-forecast growth in U.S. jobs fanned concerns about inflation.




Analysts said cash gold may retreat a little further before reversing its course.


Read more at Reuters.com Hot Stocks News

Federal Reserve Faces Growing Pressure to Raise Rates, Options Market Says

(Bloomberg) -- In the options market where the
savviest investors take apart conventional wisdom, the Federal
Reserve is facing growing pressure to consider raising interest
rates as soon as December.

Options on Federal Fund futures at the Chicago Board of
Trade indicate a 41 percent chance the central bank will lift
its target rate for overnight loans between banks to 5.5 percent
from the current 5.25 percent, according to data compiled by
Bloomberg. A month ago, they showed no expectations for an
increase.


Read more at Bloomberg Currencies News

Thailand's First-Quarter Economic Growth Faster Than Expected on Exports

(Bloomberg) -- Thailand's economic growth expanded
faster than economists expected in the first quarter as rising
exports of rubber, hard disk drives and automobiles countered a
slump in consumption and investment.

Southeast Asia's second-biggest economy expanded 4.3
percent in the three months ended March 31 from a year earlier
from a revised 4.3 percent in the previous period, the
government said in Bangkok today. Economists in a Bloomberg
survey estimated expansion of 3.7 percent.


Read more at Bloomberg Emerging Markets News

Vestas, Gamesa, Clipper Make Wind Power Tops in Energy Markets Investment

(Bloomberg) -- From General Electric Co. to
Mitsubishi Heavy Industries Ltd. to E.ON AG, the world's largest
companies are investing in wind power, the best-performing energy
in the past year.

Led by Vestas Wind Systems A/S and Spain's Iberdrola SA,
utilities and governments in the U.S., China and Europe will
spend as much as $150 billion on wind projects in the next five
years, according to CLSA Research Ltd., part of Credit Agricole
SA. Lawmakers are providing financial incentives because
windmills are non-polluting and cost less than solar projects.


Read more at Bloomberg Stocks News

Asian Equities Rise to Record for Third Day; Toyota, BHP Billiton Advance

(Bloomberg) -- Asian stocks rose to a third straight
record after reports showed employment and manufacturing growth in
the U.S. expanded more than expected and metal prices gained.

Toyota Motor Corp., which overtook General Motors Corp. as
the world's biggest automaker by market value, climbed to a 10-
week high on speculation demand in the region's largest export
market will be sustained. BHP Billiton Ltd., the No. 1 mining
company, climbed for a third day.


Read more at Bloomberg Stocks News

South Korea Will Invest $5.6 Billion to Secure Energy, Minerals Overseas

(Bloomberg) -- South Korea, which imports almost all
its energy and mineral needs, plans to invest 5.2 trillion won
($5.6 billion) to develop resources overseas to secure supplies
amid rising competition and prices.

Asia's third-largest economy will make the investment by
2011, the Ministry of Commerce, Industry and Energy said in an
e-mailed statement today. Korea Resources Corp., the nation's
state-run resource explorer, also wants to own stakes in
overseas mineral projects equivalent to 40 percent of local
demand by 2020 and will spend 1.6 trillion won to achieve this.


Read more at Bloomberg Energy News

South Korea's Currency Reserves Rise to $251 Billion on Interest Payments

(Bloomberg) -- South Korea's foreign-exchange
reserves, the world's fifth largest, rose for an 11th month in
May as the central bank earned more from interest payments.

The reserves climbed by $3.5 billion from April to $250.7
billion last month, the Bank of Korea said in a statement in
Seoul today. South Korea's reserves include $221 billion of
foreign securities such as U.S. Treasuries.


Read more at Bloomberg Currencies News

Australia to Introduce Carbon Emission Trading System by 2012, Howard Says

(Bloomberg) -- Australia will introduce a carbon
emissions trading system by 2012 and will next year set a
greenhouse gas target to combat climate change, Prime Minister
John Howard said.

A national trading system and its prices will be
established by the market, Howard told the three-day Liberal
Party conference in Sydney today. It will mean higher
electricity costs for businesses and households, he said.


Read more at Bloomberg Energy News

Early critic of diabetes drug says don't panic

(Reuters) - Dr. John Buse, chief of endocrinology at the University of North Carolina at Chapel Hill and incoming president of the American Diabetes Association, was one of the first experts to query the safety of GlaxoSmithKline's blockbuster drug.




He raised questions about the drug's heart safety in 2000.


Read more at Reuters.com Government Filings News

Wall St Week Ahead: Stocks rally looks like it's got legs

(Reuters) - This week's menu of U.S. economic statistics is not expected to pose any great challenges for U.S. stocks, suggesting that momentum can carry market indexes to still more record highs.

The week starts with a report on April U.S. factory orders on Monday. The consensus estimate is for an increase of 0.7 percent, well off the March pace of 3.1 percent. The March increase was the biggest in a year and sharply exceeded expectations.


Read more at Reuters Africa

Hillary biography questions presidential prowess

(Reuters) - That's the picture that emerges from a new biography, "A
Woman in Charge: The Life of Hillary Rodham Clinton," by Carl
Bernstein, who rose to fame with fellow reporter Bob Woodward
covering the Watergate scandal that led to the downfall of
President Richard Nixon.




Among the book's revelations are details of Bill Clinton's
affair with an Arkansas woman that led the former president to
want to end his marriage in the late 1980s. According to
Bernstein, Hillary Clinton refused to get divorced.


Read more at Reuters.com Bonds News

U.A.E. Shares Advance, Paced by Etisalat and Dubai Islamic: Gulf Stocks

(Bloomberg) -- Stocks in the United Arab Emirates
advanced, paced by Emirates Telecommunications Corp., known as
Etisalat, and Dubai Islamic Bank PJSC.

The Abu Dhabi Securities Market Index increased 0.7 percent
to 3601.00. The Dubai Financial Market General Index gained 0.3
percent to 4489.80.


Read more at Bloomberg Stocks News