US OKs gas drilling on sensitive Colorado plateau

(Reuters) - The U.S. Bureau of Land Management will allow the
drilling of wells on 73,602 acres, or about 70 percent, of the
Roan Plateau, about 175 miles west of Denver.




Drilling could commence as soon as next year. While oil
drilling will be allowed, the Roan Plateau is primarily a
natural gas resource.


Read more at Reuters.com Bonds News

CORRECTION - CHICAGO - Harley says SEC drops probe of '05 shipment cut, share plunge

(Reuters) - Angry shareholders sued the company, alleging
Harley-Davidson had defrauded them by holding back the news.
Those allegations prompted the SEC to open an inquiry into the
matter.




Read more at Reuters.com Government Filings News

Orange Juice Falls to 13-Month Low on Government Outlook for Florida Crop

(Bloomberg) -- Orange-juice futures closed at a
13-month low on speculation that the U.S. government will
maintain its forecast for the Florida orange crop, the biggest
after Brazil, easing concerns that supplies will shrink.

The Department of Agriculture on June 11 will probably
repeat last month's projection of 130.6 million boxes, Florida's
smallest crop in 17 years, according to four analysts and
traders surveyed by Bloomberg. The USDA has reduced its forecast
for three straight months.


Read more at Bloomberg Commodities News

Bay Street Week Ahead-How much is too much for Bell Canada?

(Reuters) - Among the risks is the enormous amount of debt any
private-equity buyer will have to arrange to finance a deal.
Interest rates are relatively low, so such financing appears
inexpensive at present.




"Money is cheap now, but is it going to be three years from
now?" asked Troy Crandall, an analyst at MacDougall, MacDougall
& MacTier. "It comes down to a lot of assumptions. What looks
like a decent price today, a year from now, in hindsight, could
look like an idiotic move."


Read more at Reuters.com Bonds News

Microsoft Adds Xbox Games for Children, May Cut Price to Woo Moms From Wii

(Bloomberg) -- Microsoft Corp. has won over 20-year-
old gamers, who spend hours a day launching rockets and firing
plasma guns on the company's Xbox 360. Now it wants their moms.

To lure them, the world's largest software maker says it
plans to add more family games and redo retail displays to make
the children's titles easier to find. It also may cut the Xbox
price, which is as high as $399, analysts say.


Read more at Bloomberg Exclusive News

TREASURIES-Bonds rise but global rate fears linger

(Reuters) - The market posted a mild recovery following Thursday's
plunge but analysts and traders said a cross-section of players
including fund managers, central banks and mortgage companies
continued to liquidate long positions and rebalance their
books.




"For now, the sell-off has abated. People are taking a shot
at long," said Michael Pond, Treasury strategist at
Barclays Capital in New York.


Read more at Reuters.com Bonds News

Wheat Futures Rise on Reports of Lower-Than-Expected Yields from U.S. Crop

(Bloomberg) -- Wheat rose for a second day in
Chicago, erasing an earlier decline, on reports that yields in
parts of the U.S. Great Plains may be 50 percent less than
expected a month ago because rains damaged maturing plants.

Farmers are getting 20 bushels to 40 bushels of grain per
acre in some areas, compared with the 50 to 60 bushels they
expected a month ago before rains caused disease and knocked down
plants, said Mark Hodges, executive director of the Oklahoma
Wheat Commission in Oklahoma City.


Read more at Bloomberg Commodities News

Koch Unit Starts Benzene Release Today at Corpus Christi, Texas, Refinery

(Bloomberg) -- A unit of Koch Industries Inc. began
releasing benzene and other chemicals this morning as it idled
three storage tanks at its refinery in Corpus Christi, Texas.

Koch reported the release by its Flint Hills Resources LP
unit to Texas regulators. The chemical release, which started at
8 a.m. Houston time, is expected to last 48 hours.


Read more at Bloomberg Energy News

ConocoPhillips Has Power Glitch at Arroyo Grande Refinery, California Says

(Bloomberg) -- ConocoPhillips, the second-largest
U.S. refiner, had a power disruption at its Arroyo Grande,
California, refinery, according to a report on a state-
administered Web site.

The disruption caused flaring, or burning into the air, of
sulfur dioxide and nitrogen dioxide, the report said. The
incident happened early today. A company spokesman was not
immediately available for comment.


Read more at Bloomberg Energy News

ECS says response to its Vodafone plans positive

(Reuters) - Vodafone, the world's biggest mobile operator outside China,
on Thursday rejected ECS's call to return the 38 billion pounds
to shareholders by spinning off its key U.S. asset and issuing
bonds.




ECS, which owns 0.0004 percent of Vodafone's equity and is
backed by the former deputy chairman of telecoms equipment maker
Marconi, John Mayo, said this week it had drawn up four
resolutions to put to Vodafone's annual shareholder meeting on
July 24.


Read more at Reuters.com Mergers News

Crude Oil Declines From a Nine-Month High on Signs Fuel Demand Might Slow

(Bloomberg) -- Crude oil fell from a nine-month high
on concern that interest rates may increase leading to slower
fuel demand growth and as Cyclone Gonu weakened after threatening
the Persian Gulf.

U.S. Treasury 10-year notes are poised for their biggest
weekly decline in more than a year on concern economic growth and
inflation will encourage central banks to raise interest rates.
Gonu is dissipating after sweeping across coastal Oman and Iran.
Oman's ports, including its oil-export terminal at Mina al-Fahal,
opened today for partial operations, Gulf Agency Co. reported.


Read more at Bloomberg Commodities News

AT&T, Verizon October Call, Put Options Should Be Sold, Goldman Sachs Says

(Bloomberg) -- AT&T Inc. and Verizon Communications
Inc. options should be sold because the stock-price volatility, a
key factor in pricing the contracts, is poised to decline at the
largest U.S. telephone companies, Goldman, Sachs & Co. said.

The New York-based brokerage recommended creating October
AT&T and Verizon calls and puts and then selling them to other
investors. Call options give investors the right, without the
obligation, to buy shares of a company at a specified price by a
given date. Put options convey the right to sell shares. The AT&T
options should have so-called strike prices of $40, while the
Verizon strikes should be $40 and $45, Goldman said.


Read more at Bloomberg Stocks News

Chicago is "greatest trading city": survey

(Reuters) - The magazine, which is aimed at professional traders and hedge fund managers, ranked 50 cities in an effort to find the ultimate place to live and trade.




The rise of electronic markets had theoretically leveled the global playing field, making it possible to fire off winning trades while enjoying a poolside cocktail in Tahiti.


Read more at Reuters.com Business News

TREASURIES-Bonds turn positive as buyers step in

(Reuters) - Yield on the 10-year note reached to as high as 5.25 early
on Friday, which investors said was a significant technical
resistance point for yields.




Read more at Reuters.com Bonds News

Canadian Dollar Gains as Nation's Trade Surplus Widened to Three-Year High

(Bloomberg) -- The Canadian dollar gained after a
report showed the nation's trade surplus widened in April to the
biggest since July 2004.

The currency reversed a decline posted earlier as a
separate report showed employers added fewer jobs last month
than economists expected. The currency's gains were limited amid
a broad rally in the U.S. dollar triggered by climbing U.S.
Treasury yields.


Read more at Bloomberg Currencies News

Vodafone's Resolve, Prudential's `Sells,' Harken Energy Name: Timshel

(Bloomberg) -- Vodafone Group Plc has the financial
wherewithal to return as much as 38 billion pounds ($76 billion)
to shareholders, as an activist investor has proposed. Yet it's
also clear that the company has no incentive to do so.

A comparison of Vodafone, the world's largest mobile-phone
service provider, with its peers in the Morgan Stanley Capital
International World Telecommunication Services Index shows the
Newbury, England-based company has relatively little debt.


Read more at Bloomberg Stocks News

Dollar Strengthens to Two-Month High Versus Euro as Stocks, Bonds Decline

(Bloomberg) -- The dollar surged to a more than two-
month high versus the euro and rose against the yen as European
and Asian stocks fell and global government bonds dropped.

The U.S. currency strengthened as Treasury yields soared to
the highest in more than five years. The yen fell as rising
global interest rates made it more profitable to borrow and sell
Japan's currency to purchase higher-yielding assets.


Read more at Bloomberg Currencies News

Kenexa buys recruitment process outsourcing firm

(Reuters) - The company slightly raised its second-quarter revenue
outlook to $43.6 million to $45.5 million from $43 million to
$44.9 million and reiterated its earnings outlook of 27 cents a
share to 28 cents a share, before items.





Read more at Reuters.com Mergers News

TREASURIES-Selloff unabated, yields flirt with fed funds

(Reuters) - Nyk yield
Three-month bills 4.70 4.828
Six-month bills 4.76 4.956
Two-year note 99-22/32 5.043
Five-year note 98-13/32 5.119
10-year note 94-21/32 5.195
30-year bond 91-27/32 5.298




Read more at Reuters.com Bonds News

U.S. Stock Futures Pare Losses as Treasury Yields Slip From Day's High

(Bloomberg) -- U.S. stock-index futures pared losses
after yields on U.S. Treasuries fell from their highs of the
day.

Standard & Poor's 500 Index futures expiring in September
slipped 1.9 to 1501.80 as of 8:17 a.m. in New York. Dow Jones
Industrial Average futures increased 21 to 13,401. Nasdaq 100
Index futures added 0.75 to 1908.00.


Read more at Bloomberg Stocks News

Cascade, Monster, Nortel Networks, Signet Group: 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 times.

Cascade Corp. (CAE US): The maker of lift attachments for
trucks, based in Fairview, Oregon, reported sales of $135.5
million and net income of $23.8 million for the quarter ended
April 30. Both surpassed average analyst estimates compiled by
Bloomberg. Shares fell $1.79 to $65.70 in regular trading
yesterday.


Read more at Bloomberg Stocks News

US STOCKS-Futures drop as yields stoke rate worry

(Reuters) - NEW YORK, June 8 - U.S. stock index futures
declined on Friday as the yield on the benchmark 10-year
Treasury note surged, suggesting a rough day on Wall Street for
interest-rate sensitive stocks.




Futures had earlier pointed to a stronger market open but
turned sharply lower as the yields on U.S. government bonds
jumped on fears that central banks around the world will lift
interest rates.


Read more at Reuters.com Bonds News

UPDATE 1-Greece steps in to help settle JP Morgan bond deal

(Reuters) - "For the buyback of the 280 million euro bond there is
disagreement between pension funds and the bank on
the interest earned during the period the funds held the bond,"
the Labour Ministry said in a statement.




"Greece will cover the difference in case the two sides
reach an agreement."


Read more at Reuters.com Bonds News

Norilsk profit up 154 percent

(Reuters) - Norilsk, owned by Russian billionaires Vladimir Potanin and Mikhail Prokhorov, said net profit rose 154 percent last year to $5.965 billion, beating analysts' forecasts.




Analysts said they expected the Russian miner to post strong results in 2007, despite a possible decline in nickel prices, as its newly acquired refinery in Finland will add to production.


Read more at Reuters.com Market News

Hong Kong's Admission on Link to Dollar May Jeopardize any Future Defense

(Bloomberg) -- Hong Kong's admission that it
``seriously'' considered scrapping the city's currency link five
years ago will make the peg's defense from future challenges
harder, said Merrill Lynch & Co. and ABN Amro Bank NV.

Former Finance Secretary Antony Leung said today the Hong
Kong Monetary Authority and then-Chief Executive Tung Chee-Hwa
in 2002 evaluated abolishing the link, which started in 1983.
Hong Kong is committed to the peg of about 7.8 to the U.S.
dollar, the HKMA said today.


Read more at Bloomberg Currencies News

UPDATE 1-Resona to repay $289 mln worth of public funds

(Reuters) - Resona said it would make the repayment next Wednesday,
leaving it with 45 billion yen worth of perpetual subordinated
bonds outstanding to a government body called the Resolution and
Collection Corporation.




Resona, which was effectively nationalised in a public
rescue in 2003, received about 3 trillion yen from the state,
including earlier bailouts of predecessor banks in 1998 and
1999.


Read more at Reuters.com Bonds News

GLOBAL MARKETS-Bond rally unwind batters stocks

(Reuters) - European and Asian shares fell, following losses on Wall
Street overnight, while bond yields rose again. The dollar
firmed as popular currency "carry trades" were seen to be in
danger of buckling.




The yield on benchmark U.S. Treasuries was up another 4
basis points to 5.18 percent after the biggest one day rise in
more than three years on Thursday.


Read more at Reuters.com Bonds News

French Stocks Including Cap Gemini Decline; BNP Paribas, Atos Origin Gain

(Bloomberg) -- French stocks including Cap Gemini SA
fell as BNP Paribas SA rose.

The CAC 40 Index lost 4.34, or 0.1 percent, to 5886.15 at
9:48 a.m. in Paris, heading for a 4.6 percent decline this week.
The SBF 120 Index dropped 0.1 percent today.


Read more at Bloomberg Stocks News

U.S. Notes Set for Weekly Decline as Bets for Interest-Rate Cut Diminish

(Bloomberg) -- U.S. Treasuries headed for the biggest
weekly decline since March 2005 as traders scaled back bets for a
cut in interest rates by the Federal Reserve this year.

Ten-year U.S. note yields, which move inversely to price,
rose to an 11-month high as Asian stock markets slumped. New
Zealand two-year government bonds fell for a sixth day after the
central bank this week raised borrowing costs to a record high.
German bunds also declined after the European Central Bank lifted
its rate.


Read more at Bloomberg Bonds News

French Stocks Drop for Fifth Day; Cap Gemini, Vallourec Lead the Slide

(Bloomberg) -- French stocks declined for a fifth
day, led by Cap Gemini SA after a report that the company is
preparing a bid for rival Atos Origin SA. Vallourec SA also
dropped.

BNP Paribas SA rose after a newspaper report that Societe
Generale SA is studying a possible bid.


Read more at Bloomberg Stocks News

Rupiah, Asian Currencies Slide as Investors Exit Emerging-Market Assets

(Bloomberg) -- Indonesia's rupiah led declines in
Asian currencies on speculation losses in global equity markets
encouraged investors to sell riskier assets.

The rupiah fell the most since May 2006 and the Philippine
peso had the biggest slide in almost six months as the Morgan
Stanley Capital International Asia-Pacific Index of stocks
followed U.S. and European shares lower. Concern world interest
rates will rise and slow consumer spending and investment spurred
the sell-off in emerging-market assets.


Read more at Bloomberg Emerging Markets News