GE eyes Belgian property, financial sectors: paper

(Reuters) - The group has already bought consumer credit group Auxfina from French financial services group AXA.




"That was a first step but it's clear that we want to go further in Belgium or the Netherlands," he said.


Read more at Reuters.com Mergers News

Holcim sells major stake in Holcim South Africa

(Reuters) - Swiss-based cement group Holcim said on Tuesday it had completed the sale of 85 percent of its 54 percent stake in Holcim South Africa to AfriSam Consortium (Pty) Ltd.

Holcim will retain a 15 percent stake in Holcim South Africa, the group said in a statement.


Read more at Reuters Africa

Gerdau, JBS, Homex, U.S. Commercial Shares: Latin America Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Argentina, Brazil and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

UPDATE 1-Ryanair profit rises 33 pct but warns of slowdown

(Reuters) - Europe's biggest low-cost carrier said profit after tax but
before one-off items rose to 401.4 million euros in the 12 months to the end of March.




That compares to 301.5 million a year earlier and the 393.5
million average of 12 analysts' forecasts compiled by Reuters
Estimates.


Read more at Reuters.com Market News

Joost names former Cisco executive new CEO

(Reuters) - Volpi, who was also a Skype board member, replaces current Joost CEO Fredrik de Wahl, who will remain as chief strategy officer.




A 13-year veteran of network communications equipment maker Cisco Systems Inc., Volpi was, until he resigned in February, considered a successor to Cisco CEO John Chambers.


Read more at Reuters.com Business News

Amazon.com Will Increase Investments in China, Its Fastest Growing Market

(Bloomberg) -- Amazon.com Inc., the world's biggest
Web retailer, will increase investments in its China unit to
bolster sales from the largest Internet market behind the U.S.

The Chinese Web site, renamed Joyo Amazon.cn today, is the
company's fastest growing by sales, Jeff Bezos, chief executive
officer of Amazon.com, told reporters in Beijing. Bezos didn't
specify the size of investments in the Beijing-based unit
formerly known as Joyo.com Ltd., bought for $75 million in 2004.


Read more at Bloomberg Emerging Markets News

U.K. Retail Sales Increase at Their Slowest Pace Since November, BRC Says

(Bloomberg) -- U.K. retail sales rose at the slowest
pace since November last month as Britons bought less clothing and
footwear, the British Retail Consortium said.

Revenue at stores open at least 12 months increased 1.8
percent from a year earlier, the least since November and down
from a 2.4 percent annual gain in April, the group, which
represents 80 percent of Britain's retailers, said today in an e-
mailed statement. The survey covers the four weeks through May 26.


Read more at Bloomberg Bonds News

Japan Shares Rise; Toyota, AOC, Sekisui House Gain, Fast Retailing Falls

(Bloomberg) -- Japanese stocks rose, led by
automotive-related shares such as Toyota Motor Corp., as concern
eased a slowdown in the U.S. economy will drag on the companies'
profit growth.

Energy producers advanced after the price of crude oil
climbed above $66 a barrel in New York.


Read more at Bloomberg Stocks News

Overseas Investors Slowed Purchases of Malaysian Government Debt in March

(Bloomberg) -- Overseas investors slowed overall
purchases of securities issued by the Malaysian government and
central bank in March, according to data published by the central
bank on its Web site.

Total foreign holdings of bills, government bonds and
corporate debt rose 3.3 percent to 44.6 billion ringgit ($13.1
billion), the most since at least 2001, Bank Negara Malaysia said.
The increase was 15 percent in February.


Read more at Bloomberg Bonds News

Senate panel examines stock option tax gap

(Reuters) - Just a year after finishing a fight over how to account for stock options' costs, the U.S. Congress is taking a look at how options are taxed.




On Tuesday, a Senate panel will hold a hearing on the routine corporate practice of showing one set of option figures to tax authorities and another to shareholders.


Read more at Reuters.com Bonds News

South Korea's Kospi Is Little Changed; LG.Philips Gains While Posco Falls

(Bloomberg) -- South Korea's Kospi index swung
between gains and losses. LG.Philips LCD Co. advanced after Korea
Investment & Securities Co. lifted its price estimate by 18
percent, saying the liquid-crystal display industry will improve
into 2008.

Posco and Hyundai Heavy Industries Co. declined as investors
took advantage of recent gains to sell.


Read more at Bloomberg Stocks News

San Diego releases audit sought by Wall Street

(Reuters) - Wall Street tossed San Diego from the market for failing to
disclose management problems at its pension fund, which
produced a deficit of more than $1 billion that threatened to
drag down the rest of the city government.




The U.S. Securities and Exchange Commission has said the
city kept bond investors in the dark with "materially
misleading" documents for five debt offerings in 2002 and
2003.


Read more at Reuters.com Bonds News

Japan's Government Bonds May Gain on Speculation Auction to Lure Investors

(Bloomberg) -- Japanese government bonds may gain on
speculation yields approaching the highest since October will lure
investors to an auction of 10-year debt today.

The Ministry of Finance may pay the highest coupon in seven
months when it sells 1.9 trillion yen ($15.6 billion) in the
securities today, according to a Bloomberg News survey of traders,
analysts and investors.


Read more at Bloomberg Bonds News

Japanese Yen, Indian Rupee, Thai Baht, Korean Won: Asian Currency Review

(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

Austar, BHP Billiton, Rio, 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 a
point to 6407 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index added 0.4 percent in New York.


Read more at Bloomberg Stocks News

Citic, Hang Lung, Hynix, Singapore Petroleum: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. 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.

Hong Kong developers: The city's home sales rose 63.4
percent in May to HK$38.2 billion ($4.89 billion) from a year
earlier, according to the Land Registry. The number of
transactions rose 42.2 percent.


Read more at Bloomberg Stocks News

UPDATE 1-Openwave Systems board rejects Harbinger offer

(Reuters) - Openwave, which also declared a special $100 million cash
dividend, said the offer was inadequate and not in the best
interests of the company and its stockholders.




Last month, the investor group that owns 13 percent of the
company's shares offered to boost its stake by buying another
49 percent of outstanding shares for about $335 million, or
$8.30 per share.


Read more at Reuters.com Mergers News

Huntington deal for Sky wins U.S. Fed approval

(Reuters) - The combination, which the Fed said met the requirements
under the Bank Holding Company Act with no divestitures
required, will make Columbus-based Huntington the 34th-largest
depository institution in the United States, with total
consolidated assets of $53 billion. Sky, which operates Sky
Bank in Ohio, Indiana, Michigan, Pennsylvania and West
Virginia, has consolidated assets of $18 billion, the Fed
said.




Read more at Reuters.com Government Filings News

UPDATE 1-Manulife wants bigger slice of Canada mutual funds

(Reuters) - By Nicole Mordant



VANCOUVER, British Columbia, June 4 - The chief executive of Manulife Financial Corp. said on Monday he is "annoyed" that his company doesn't command a bigger portion of Canada's mutual fund industry.


Read more at Reuters.com Mergers News

GLOBAL MARKETS-US stocks shurg off China, oil rises

(Reuters) - NEW YORK, June 4 - Wall Street shrugged off a
tumble in Chinese stocks as surging oil prices helped U.S.
energy shares on Monday, while government bonds recovered from
recent losses.




The dollar fell broadly, failing to extend the gains it
made on last week's robust U.S. jobs data as investors showed a
preference for currencies linked to rising interest rates. Gold
turned lower but only after hitting its highest since mid-May
on the dollar's losses.


Read more at Reuters.com Economic News

Wall St backs off calls for Fed rate cuts

(Reuters) - "The Fed is not going to be cutting rates at any time this year," said David Rosenberg, chief economist for North America at Merrill Lynch.




The change was based in part on expectations for stronger growth, with the firm raising its estimate for second-quarter gross domestic product to 2.5 percent from 2 percent.


Read more at Reuters.com Business News

Gold and Silver, Little Changed in New York, May Rise as Dollar Weakens ]

(Bloomberg) -- Gold and silver, little changed in
New York, may gain on speculation a decline in the dollar's
value against the euro will boost the appeal of the precious
metals as an alternative investment.

Gold generally moves in tandem with the euro, which today
rose from a seven-week low against the dollar. Before today,
gold had gained 6.1 percent this year as the euro climbed 1.9
percent against the dollar.


Read more at Bloomberg Commodities News

U.S. Stocks Decline After Tumble in China; Shares of GM, Merck Lead Drop

(Bloomberg) -- U.S. stocks fell for the first time in
six days after China's benchmark index plunged and orders to
American factories rose less than forecast.

General Motors Corp., the largest U.S. automaker, and Merck
& Co., the third-biggest U.S. drugmaker, had the steepest
declines in the Dow Jones Industrial Average. Procter & Gamble
Co. led consumer-related shares in the Standard and Poor's 500
Index lower after crude oil prices climbed above $66 a barrel.


Read more at Bloomberg Stocks News

US court throws out indecency ruling by regulators

(Reuters) - A panel of the U.S. Court of Appeals for the Second Circuit
in New York said that the FCC's "new policy sanctioning
'fleeting expletives' is arbitrary and capricious." The court
sent the matter back to the FCC for further proceedings.




Read more at Reuters.com Government Filings News

RPTGLOBAL MARKETS-US stocks pull back from peaks on China

(Reuters) - By Burton Frierson




NEW YORK, June 4 - Tumbling Chinese shares
dampened global stock markets and held Wall Street back from
recent record highs on Monday, giving safe-haven government
bonds a badly needed boost.


Read more at Reuters.com Economic News

Swiss Index Declines From Record; Roche, Synthes Shares Lead Drop

(Bloomberg) -- Swiss stocks fell, bringing the
country's key index down from its June 1 record high. Roche
Holding AG slid after the world's biggest maker of cancer
medicines published a study that may prompt some doctors to
prescribe lower doses of a tumor treatment. Synthes Inc. also
declined.

Clariant AG increased after Cash Daily said German rival
Lanxess AG may seek to acquire the chemical maker.


Read more at Bloomberg Stocks News

Cocoa Falls to One-Month Low in New York as Rains Aid West African Crops

(Bloomberg) -- Cocoa futures in New York fell to a
one-month low after rains in West Africa raised expectations
that supplies will meet forecasts.

Growing regions in Ivory Coast, Ghana and Nigeria received
rain over the weekend and more is on the way, according to
Meteorlogix LLC of Woburn, Massachusetts. Ivory Coast is the
world's biggest cocoa producer, followed by Ghana, Indonesia and
Nigeria.


Read more at Bloomberg Commodities News

First Data to issue up to $8 bln junk bonds for LBO

(Reuters) - The junk bond financing will include up to $5.5 billion in
senior unsecured notes and up to $2.5 billion in senior
subordinated notes.




Citigroup, Credit Suisse Securities, Deutsche Bank
Securities, HSBC Securities, Lehman Brothers, Goldman Sachs
Credit Partners and Merrill Lynch will provide a bridge loan if
the high-yield notes are not sold in time to finance the
buyout, according to the filing.


Read more at Reuters.com Bonds News

Viacom sells Russia MTV, VH1 channels for $360 mln

(Reuters) - MTV, which launched in Russia in 1998 a year after Prof-Media was established, said it would continue to grant an exclusive license for MTV and VH1 programs and related Web sites in Russia.




MTV Networks Vice-Chairman Bill Roedy said the deal would enhance MTV's reach in Russia as it moved from a financial partnership with the likes of Russia Partners to a strategic relationship with Prof-Media.


Read more at Reuters.com Mergers News

Highveld says board formulating response to Evraz bid

(Reuters) - Highveld Steel and Vanadium Corporation on Monday said its board was in the process of formulating a response to Evraz Group's offer to buy all the shares in the group that it does not already own.

Highveld -- South Africa's second-largest steel maker after Mittal Steel SA -- said its response would be made available within two weeks.


Read more at Reuters Africa

TREASURIES-Bargain-hunting lifts bonds as stocks ease

(Reuters) - Still, gains were tentative amid signs of a strengthening
economy. Data on factory orders had little effect but upward
revisions to April durable goods did confirm a pick up in
business investment early in the second quarter.




The past month has been tough for Treasuries, with yields
climbing as much as 40 basis points as improving economic data
prompted investors to pare back expectations for the Federal
Reserve to cut interest rates.


Read more at Reuters.com Bonds News

Airline shares down after Continental revenue data

(Reuters) - Continental estimated that its May revenue per available seat mile slipped between 0.5 percent and 1.5 percent, compared with an increase in May 2006 of as much as 1 percent.




The No. 4 U.S. airline is the only major carrier to publish monthly revenue estimates, so the data serve as a proxy for the industry. JP Morgan analyst Jamie Baker said in a research note that the data may trigger downward revisions for second-half airline performance.


Read more at Reuters.com Hot Stocks News

Laureate accepts sweetened $3.82 bln takeover bid

(Reuters) - The higher bid represents a 3 percent premium to Laureate's Friday closing price of $60.11 on the Nasdaq. The shares rose to $61.48 in Monday morning trade.




The investor group, led by Laureate Chief Executive Douglas Becker, includes Kohlberg Kravis Roberts & Co., Citi Private Equity, S.A.C. Capital Management and others.


Read more at Reuters.com Mergers News

Euro Rises From Seven-Week Low Against Dollar on ECB Interest Rate Outlook

(Bloomberg) -- The euro rose from a seven-week low
versus the dollar on speculation inflation will accelerate in
Europe, forcing policy makers to push interest rates higher
through the rest of this year.

The euro rallied the most in almost three weeks against the
dollar after Financial Times Deutschland said the European
Central Bank will lift forecasts for inflation and economic
growth. The yen and Swiss franc advanced against the dollar as a
slump in Chinese stocks pushed investors to exit so-called carry
trades in which they buy higher-yielding assets funded by loans
in Japan and Switzerland.


Read more at Bloomberg Currencies News

Violent crime up again, more murders, robberies

(Reuters) - The FBI reported that the number of violent crimes nationwide went up by 1.3 percent last year, following a 2.3 percent increase in 2005. That had been the first rise in four years and the biggest percentage gain in 15 years.




The report showed that murders in big cities jumped last year by 6.7 percent. Robberies, an important indicator of crime trends, increased 6 percent nationwide.


Read more at Reuters.com Bonds News

Puerto Rico's Doral gets unsolicited takeover bid

(Reuters) - On May 17, Doral said it agreed to sell a 90 percent stake
to a group led by Bear Stearns Merchant Banking, which would
buy $610 million of stock at 63 cents per share. That
transaction was intended to help Doral repay debt that matures
on July 20 and avert a possible bankruptcy.




Doral said it will promptly review the FBOP offer,
consistent with its obligations under the earlier merger
agreement. Doral shares closed Friday at $1.30.


Read more at Reuters.com Mergers News

Walgreen May same-store sales up 6.4 percent

(Reuters) - Total sales rose 10.7 percent to $4.58 billion.



Same-store pharmacy sales increased 7.2 percent, while same-store sales of general, or "front-end," merchandise such as candy and cosmetics rose 5 percent.


Read more at Reuters.com Market News

Crude Oil Rebounds on Concern More Unrest in Nigeria Will Curb Production

(Bloomberg) -- Crude oil rebounded on concern the
latest series of kidnappings in Nigeria, Africa's largest oil
producer, may further disrupt supplies.

Four employees of Houston-based Schlumberger Ltd. were taken
June 2 from a compound in Port Harcourt, said Stephen Whittaker, a
spokesman for the company. Yesterday, gunmen shot dead a driver and
abducted six workers of United Co. Rusal from housing at the Alscon
aluminum smelter, in southern Nigeria, a company spokeswoman said.


Read more at Bloomberg Energy News

Accredited Home to be acquired for $400 mln

(Reuters) - Accredited and many other providers of home loans to people
with poor credit histories have struggled with rising losses
and mounting defaults.




Read more at Reuters.com Bonds News

Dominion to sell gas assets to Loews, XTO for $6.5 bln

(Reuters) - Dominion said it sees operating earnings of $6 or more a
share in 2008.





Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Decline; JPMorgan, Abbott Shares Fall in Europe

(Bloomberg) -- U.S. stock-index futures dropped
before a factory-orders report that may show economic growth has
recovered enough to rule out a cut in interest rates.

JPMorgan Chase & Co., the third-largest U.S. bank, and Wells
Fargo & Co., the biggest bank on the U.S. West Coast, declined.
Abbott Laboratories shares also retreated.


Read more at Bloomberg Stocks News

China's CSI 300 Plunges 7.7 Percent, Extending Stocks Rout to $350 Billion

(Bloomberg) -- China's benchmark stock index plunged
7.7 percent after the government's main business newspaper
signaled officials won't try to halt a slump that's erased more
than $350 billion of market value in four days.

The CSI 300 Index dropped 292.52 to 3511.43, the biggest
points slide on record. The measure, which doubled in the past
six months, has tumbled 16 percent from its May 29 peak after
the government tripled the tax on share trades to 0.3 percent.


Read more at Bloomberg Emerging Markets News

European Government Bonds May Gain; Yields at Three-Year High Lure Buyers

(Bloomberg) -- European government bonds may advance
on speculation 10-year yields at the highest in more than three
years will attract investors.

Ten-year bunds, the benchmark for Europe, last month fell by
the most since March 2006 on concern the 13-nation euro region is
growing faster than expected and the European Central Bank hasn't
raised interest rates far enough to prevent inflation picking up.
ECB Policy makers on June 6 will raise rates a quarter point to 4
percent, a Bloomberg News survey predicts.


Read more at Bloomberg Bonds News

China shares tumble 8.3 pct as panic spreads

(Reuters) - The index has now lost 15.3 percent from last Tuesday's record intra-day high, erasing about $340 billion of value. A fall of 10 percent is an internationally accepted definition of a bear market in stocks.




After taking losses of around 20 percent or more on their holdings of volatile small-capital stocks late last week, panicking individual investors dumped stocks on Monday.


Read more at Reuters.com Hot Stocks News

Stocks test peaks despite China fall, dollar firm

(Reuters) - U.S. Treasuries remained under pressure after Friday's strong non-farm payrolls data further dampened expectations of interest rate cuts from the Federal Reserve this year, while technical problems disrupted early bond trading in Europe.




Chinese stocks ended down 8.3 percent, extending last week's 4.3 percent fall, as investors continued to fret about a hike in stock-trading tax -- the latest move by authorities to cool a market that had nearly tripled in value in the past year.


Read more at Reuters.com Bonds News

Buy Japan Small-Cap Stocks From July, Credit Suisse's Ichikawa Recommends

(Bloomberg) -- Investors in Japanese stocks should
start buying companies with low market capitalization from next
month as economic indicators may point to better performance by
the shares, according to Credit Suisse Securities (Japan) Ltd.

Shares of smaller companies, also known as small cap stocks,
have underperformed Japan's benchmark Topix index and Nikkei 225
Stock Average since January 2006 when Livedoor Co., an Internet
company, was raided by prosecutors.


Read more at Bloomberg Stocks News

China Stocks Have Record Plunge, Extending Rout to More Than $350 Billion

(Bloomberg) -- China's key stock index plunged by a
record number of points after the government's main securities
daily signaled officials won't try to halt a slump that's
erased more than $350 billion of market value in four days.

The CSI 300 Index dropped 292.52, or 7.7 percent, to close
at 3511.43. The measure, which doubled in the past six months,
has plunged 16 percent from its May 29 peak after the government
tripled the tax on share trades to 0.3 percent.


Read more at Bloomberg Stocks News

European shares down, autos lead; eyes on data, ECB

(Reuters) - European shares opened lower on Monday, retreating from six-and-a-half-year highs hit on Friday, with autos the leading sector decliners in early trade.

The pan-European FTSEurofirst 300 index fell 0.14 percent to 1,623.61 points by 0713 GMT.


Read more at Reuters Africa

Platinum Futures Rally a Fourth Day in Tokyo on Signs of Industrial Demand

(Bloomberg) -- Platinum futures gained for a fourth
day in Tokyo on expectations European jewelry demand and
industrial purchases of the metal will prompt some traders to buy
out of bets they had made on a decline.

Traders on the Tokyo Commodity Exchange last week took on
more futures contracts even as some were selling the metal itself,
a sign they're taking short positions, which bet on the metal's
decline, said John Reade, an analyst at UBS AG, in a June 1 note
to clients.


Read more at Bloomberg Commodities News