Bear Stearns to add up fund losses by July 16: report

(Reuters) - Investors are keen to see how far the assets have fallen, since they believe other hedge funds are also holding mortgage-related securities, the report added.




A Bear Stearns spokeswoman was not immediately available for comment.


Read more at Reuters.com Business News

ING buys back 5.55 pct of own shares from Fortis

(Reuters) - The share purchase, representing about 5.55 percent of ING's
share capital, is unrelated to ING's ongoing share buyback
programme.




Read more at Reuters.com Mergers News

Japan's Government Bonds Fall; Yields Near One-Month Low Deter Investors

(Bloomberg) -- Japan's 10-year bonds fell, erasing
earlier gains, on speculation yields near the lowest in almost a
month will deter investors from buying before an auction of the
securities tomorrow.

Bonds reversed direction after posting their biggest rally
since March on June 29 on concern brokerages will prepare for
the 1.9 trillion yen ($15.4 billion) sale of 10-year debt. Chief
government spokesman Yasuhisa Shiozaki said in Tokyo today the
Bank of Japan's Tankan survey shows the economy is recovering
steadily and monetary policy is up to the central bank.


Read more at Bloomberg Bonds News

Australian Bank Stocks Drop, Led by St.George; Woodside, Oil Shares Gain

(Bloomberg) -- Australian banking stocks fell, led by
St.George Bank Ltd. and National Australia Bank Ltd. after their
U.S. peers dropped on concerns losses on mortgages will deepen.

Energy shares rose, led by Caltex Australia Ltd. and Woodside
Petroleum Ltd. after oil traded near a 10 month high following
attempted car bombings in the U.K.


Read more at Bloomberg Stocks News

Virgin Media, Debenhams, Liberty, C&C Group: U.K., Irish Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in U.K. and Irish markets today. Stock symbols are in parentheses
and prices are from the market close on June 29.

The benchmark FTSE 100 Index rose 36.60, or 0.6 percent, to
close at 6607.90 in London as 66 stocks rose, 34 fell and two
were unchanged. The FTSE All-Share Index gained 15.98, or 0.5
percent, to 3404.14.


Read more at Bloomberg Stocks News

China's June Manufacturing Activities Grows at Slowest Pace in Four Months

(Bloomberg) -- Manufacturing activity in China
expanded at the slowest pace in four months in June amid a
government clampdown on polluting and energy-intensive industries,
according to a survey of purchasing managers released today.

The June Purchasing Managers' Index fell to 54.5 from 55.7
in May, the China Federation of Logistics and Purchasing and the
National Bureau of Statistics said in an e-mailed statement. That
was the lowest reading in four months.


Read more at Bloomberg Emerging Markets News

UPDATE 1-SK Telecom, EarthLink to put $100 mln each in JV

(Reuters) - SK has been in talks with EarthLink to put up more funds for
the venture, set up in 2005 and launched in 2006.




"Our initial investment in the venture has been spent, and we
will need to inject more money during the second half," said Kim
Hye-jin, a spokeswoman at SK Telecom.


Read more at Reuters.com Mergers News

South Korea's Kospi Index Is Little Changed; Samsung Electronics Declines

(Bloomberg) -- South Korea's Kospi index was little
changed. Samsung Electronics Co. slid after confidence among the
country's manufacturers fell on concern a stronger won will hurt
exporters' price competitiveness in overseas markets.

LG.Philips LCD Co. gained after Shinyoung Securities Co.
said the company's second-quarter earnings will jump on higher
panel prices.


Read more at Bloomberg Stocks News

UPDATE 1-Macquarie funds buy Global Tower in $1.4 bln deal

(Reuters) - New York-based fund Macquarie Infrastructure Partners and
Sydney-based Macquarie Communications Infrastructure Group
bought the Boca Raton, Florida, based provider of outsourced
antennae site facilities from buyout group Blackstone .




The consortium said in a press statement that the deal gave
Global Tower an enterprise value of $1.4 billion.


Read more at Reuters.com Mergers News

Exporters, Korea Gas Corp., LG.Philips LCD: South Korea's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the June 29 close. This preview
includes news announced after markets shut. Stock symbols are in
brackets after the company names.

The Kospi index declined 0.5 percent to 1743.60. The Kosdaq
was little changed at 778.69. Kospi 200 futures expiring in
September slipped 0.9 percent to 221.80, while the underlying
index lost 0.6 percent to 221.31.


Read more at Bloomberg Stocks News

Australian and New Zealand Dollars Near Two-Decade Highs as Yield Appeals

(Bloomberg) -- The Australian and New Zealand
dollars rose to the highest in about two decades as the yield
premium of the nations' bonds to U.S. debt widened.

The yield spread between Australian government two-year
bonds and equivalent Treasuries moved to the widest in over two
months late last week while the yield advantage of New Zealand's
two-year notes was at a seven-week high. The U.S. currency
declined and Treasury yields fell after the International
Monetary Fund said June 29 the dollar's share of global foreign-
exchange reserves fell to the lowest in at least eight years.


Read more at Bloomberg Currencies News

UPDATE 2-Virgin Media seeks buyer, Carlyle bids -sources

(Reuters) - LONDON, July 1 - British cable operator Virgin
Media has appointed Goldman Sachs to seek a possible
buyer after it received approaches from various private equity
firms, people familiar with the situation said on Sunday.




Carlyle Group [CYL.UL], for one, offered in recent weeks to
buy the company, whose leading shareholder is the flamboyant
entrepreneur Richard Branson, the sources said, but they declined
to disclose the price put forward.


Read more at Reuters.com Mergers News

WEEKEAHEAD-Emerging debt gains at risk as liquidity dries up

(Reuters) - With many investors going on vacation in July, and with a
week shortened by the U.S. Independence Day holiday on
Wednesday, market liquidity is expected to decrease.




Volatility may increase, and analysts fear the market may
not be able to hold a positive performance if the subprime
mortgage market continues to provide material for negative
headlines.


Read more at Reuters.com Bonds News

RPT-IPO-VIEW-MF Global poised for $4 billion IPO

(Reuters) - NEW YORK, July 1 - Man Group , the world's
largest listed hedge fund group, is set to stage what will
likely be the second-largest IPO on a U.S. exchange so far this
year when it spins off its U.S. brokerage arm, MF Global, this
month.




The offering could raise about $3.8 billion, putting it in
a league with Blackstone Group's high-profile $4.13
billion IPO last month. But investors are likely hoping that MF
Global's debut will not mirror the rocky entry of Blackstone
into the public markets.


Read more at Reuters.com Mergers News

Zimbabwe deploys prices crack unit, arrests Mugabe man

(Reuters) - The Zimbabwe government has deployed a crack security unit in a desperate fight against hyperinflation, and arrested more than 20 business executives, including a ruling party senator, for breaching price controls.

President Robert Mugabe -- facing the highest inflation rate in the world and simmering political tension -- last week ordered consumer prices slashed by half after the cost of some goods rose by up to 300 percent within a week, reflecting a deepening economic crisis many blame on his policies.


Read more at Reuters Africa