Indian Government Bonds Poised for Best Week in Five Months on Inflation

(Bloomberg) -- India's government bonds were set to
complete the biggest weekly gain in five months on speculation a
report today will show inflation slowed for an 11th week.

The yield on the benchmark 10-year bond held at a two-month
low before the report, which may show wholesale prices rose at
the slowest pace in almost 14 months, according to the median
estimate of a Bloomberg News survey. The Ministry of Commerce &
Industry will announce the data at noon in New Delhi.


Read more at Bloomberg Bonds News

S.Africa June net reserves up at $25.94 billion

(Reuters) - South Africa's net gold and foreign exchange reserves rose to $25.94 billion at the end of June from $25.48 billion at the end of May, central bank data showed on Friday.

Gross reserves increased to $28.28 billion from $27.85 billion in May, the bank said in a statement posted on its website.


Read more at Reuters Africa

India's MMTC Seeks Buyers for 30,000 Metric Tons of Pig Iron This Month

(Bloomberg) -- MMTC Ltd., an Indian state-owned
minerals and metals trading company, is seeking buyers for
30,000 metric tons of pig iron.

MMTC will sell pig iron for delivery end of this month on a
free-on-board basis from Paradip port in the eastern India, and
has an option to sell a further 30,000 for delivery in August,
according to a document on its Web site today.


Read more at Bloomberg Commodities News

Arquana, Comdirect, Kloeckner-Werke, Salzgitter: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index added 0.1 percent to 7989.48. The
index provides an estimate of the DAX Index, based on trading in
DAX futures after the Xetra electronic market closes. The DAX
fell 1.1 percent to 7987.13 on the Xetra electronic-trading
system.


Read more at Bloomberg Stocks News

U.S. Payrolls, Wages Probably Increased in June; Employment Rate Stable

(Bloomberg) -- Employers in the U.S. probably
created enough jobs last month to keep wages growing and the
unemployment rate unchanged, economists said before a government
report today.

The projected 125,000 increase in payrolls is based on the
median estimate of 81 economists surveyed by Bloomberg News and
would follow a 157,000 gain in May. The jobless rate is forecast
to hold at 4.5 percent for a third month, near a six-year low.


Read more at Bloomberg Currencies News

U.K. Auditor Says Approximately One Million Pay Wrong Amount of Income Tax

(Bloomberg) -- About a million people in Britain paid
the wrong amount of income tax in the fiscal year ended March, 8
percent more than a year earlier, the public spending watchdog
said.

The National Audit Office said in a report today that
miscalculations by the tax authority affected about one in 20
taxpayers. The department undercharged some taxpayers by 125
million ($250 million) and overcharged others by 157 million
pounds.


Read more at Bloomberg Bonds News

Japanese Stocks Slide on Consumption Tax Increase Concern; Retailers Fall

(Bloomberg) -- Japanese stocks slipped, snapping a
six-day rally. Retailers paced declines by domestic demand-
related companies after Prime Minister Shinzo Abe denied he had
ruled out raising the consumption tax.

Seven & I Holdings Co., Japan's largest retailer, also
dropped after saying operating profit, or sales minus the cost
of goods sold and administrative expenses, dropped 1.1 percent
in the first quarter. Yamada Denki Co., the nation's biggest
electronics retailer, fell 0.8 percent.


Read more at Bloomberg Stocks News

Exporters, Hynix Semiconductor, LG Chem: South Korea's Equity Preview

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

The Kospi index added 0.5 percent to a record 1847.79. The
Kosdaq slid 0.1 percent to 802.87. Kospi 200 futures rose 0.8
percent to 236.85, while the underlying index advanced 0.6
percent to 234.75.


Read more at Bloomberg Stocks News

UPDATE 5-Advanced Medical bids for Bausch & Lomb - sources

(Reuters) - PHILADELPHIA, July 5 - Advanced Medical Optics
Inc. has offered to buy larger eye-care company Bausch
& Lomb Inc. for $4.23 billion, topping a rival offer of
$3.67 billion from private equity firm Warburg Pincus ,
sources familiar with the situation said on Thursday.




Advanced Medical's offer is valued at $75 a share, of which
$45 is in cash and $30 in stock, the sources said. That offer
compares with a $65 a share offer made by Warburg Pincus in
May. Bausch & Lomb's takeover agreement from Warburg Pincus
allowed it to solicit other bids for 50 days.


Read more at Reuters.com Bonds News

Lockheed wins Air Force training work

(Reuters) - Lockheed held the previous Aircrew Training and Rehearsal Support contract.




The follow-on contract was hotly contested.


Read more at Reuters.com Business News

Lifting the Lid: Foreign companies check out from U.S. markets

(Reuters) - About 35 foreign companies have voluntarily announced plans
to delist their stocks from U.S. exchanges since April,
according to U.S. regulatory filings.




The companies say multiple accounting standards,
Sarbanes-Oxley compliance, low trading volume, and a new rule
that eased requirements to de-register shares with U.S.
regulators all contributed to their decisions to delist.


Read more at Reuters.com Government Filings News

Applied Micro Circuits cuts first-quarter revenue forecast

(Reuters) - In a statement, the semiconductor company said it now sees first-quarter revenue of about $50 million, compared with its prior view of $59.6 million. It also expects second-quarter revenue to to be in the $55 million to $60 million range.






Read more at Reuters.com Market News

UPDATE 1-Quebecor sweetens Osprey bid to C$414.4 mln

(Reuters) - TORONTO, July 5 - Media and commercial printing company Quebecor Inc. has sweetened its bid for Canadian newspaper publisher Osprey Media Income Fund to C$414.4 million in cash, nosing out a competing bid by Black Press Ltd.



Quebecor said on Thursday it has raised its offer to C$8.45 per Osprey unit from C$7.25. Black Press, which is 19.4 percent owned by Quebecor rival Torstar Corp. , is offering C$8.25 a unit.


Read more at Reuters.com Mergers News

CVC to acquire Samsonite for $1.1 billion

(Reuters) - NEW YORK, July 5 - Luggage maker Samsonite Corp. said on Thursday it agreed to be bought by private equity firm CVC Capital Partners [CVC.UL] in an all-cash deal of about $1.7 billion, including assumption of debt.



The deal, which was approved by Samsonite's board, values Samsonite at $1.49 a share, the company said in a statement.


Read more at Reuters.com Mergers News

Most U.S. Stocks Decline as Bond Yields Advance; Bank Shares Lead Retreat

(Bloomberg) -- Most U.S. stocks fell for the
first time this week, led by financial shares, after a rise in
Treasury yields spurred concern bonds will become a more
attractive investment than equities.

Citigroup Inc., JPMorgan Chase & Co. and American Express
Co. led the decline in the Dow Jones Industrial Average
following yesterday's market holiday. A rally in Apple Inc.
boosted computer-related stocks and sent the Nasdaq Composite
Index to a six-year high.


Read more at Bloomberg Stocks News

GM says to keep Allison retiree costs after sale

(Reuters) - GM outlined its retiree-related liability as a result of the previously announced transaction in a filing with the U.S. Securities and Exchange Commission on Thursday.



The No. 1 U.S. automaker said in its filing with the SEC that United Auto Workers union-represented hourly workers at the Allison facilities being acquired by private-equity firms Carlyle Group and Onex Corp. would have the same work terms as other GM employees through the term of the current contract, which expires in September.


Read more at Reuters.com Mergers News

Oil Rises to 10-Month High on Nigerian Supply Concern, U.S. Fuel Shortfall

(Bloomberg) -- Crude oil rose to a 10-month high, on
concern that unrest in Nigeria may curb oil shipments and
unexpected shutdowns at U.S. refineries will cut fuel production.

Nigerian gunmen kidnapped a three-year-old daughter of a
British expatriate on her way to school in the southern oil city
of Port Harcourt, a police spokesman said. Five contractors were
seized yesterday from a rig operated by Royal Dutch Shell Plc's
Nigerian venture. Futures pared gains after the Energy Department
reported that U.S. oil and fuel supplies rose last week.


Read more at Bloomberg Commodities News

Chile stocks fall as rate hikes loom, peso edges up

(Reuters) - Government data reported on Thursday showed Chile's
economic activity index grew a less-than-expected 4.8
percent in May.




Analysts said the figures were not weak enough to dispel
predictions, based on Wednesday's stronger-than-expected June
inflation figure, that the central bank will soon raise its
benchmark interest rate, a move that would reduce stock
valuations.


Read more at Reuters.com Bonds News

Copper Futures Gain for Sixth Session on Strikes, Inventory Speculation

(Bloomberg) -- Copper rose for a sixth straight
session in New York, extending a rally to a seven-week high, on
speculation supplies will be disrupted by mine strikes in Latin
America as stockpiles dwindle to 10-month lows.

Mexico's National Mining and Metal Workers Union began a
one-day strike today to press for better safety in mines, a
spokeswoman said. Copper stockpiles monitored by the London Metal
Exchange fell 2.2 percent to 107,950 tons, the exchange said
today, the lowest level since Aug. 10. Copper futures have risen
25 percent this year as inventories slumped 41 percent.


Read more at Bloomberg Commodities News

ACR, GM, Hilton Hotels, MGM Mirage, Penson, Wyndham: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes on U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 1:15 p.m. in New York.

ACR Group Inc. (BRR US) jumped $2.01, or 44 percent, to
$6.61. The company, which sells air-conditioning, heating, and
refrigeration equipment, agreed to be bought by Watsco Inc. (WSO
US) for $6.75 a share. Watsco rose $2.03, or 3.7 percent, to
$57.55.


Read more at Bloomberg Stocks News

Statoil shareholders approve N.Hydro oil merger

(Reuters) - "It was passed by a vast majority," Statoil's investment
relations chief said.




At a separate meeting in Oslo, Norsk Hydro shareholders
unamimously approved the plan, Hydro officials said.


Read more at Reuters.com Mergers News

UPDATE 2-Dominion extends sale period for gas utilities

(Reuters) - NEW YORK, July 5 - Power company Dominion
Resources Inc. said on Thursday it extended the period to
sell two natural gas utilities to Equitable Resources Inc.
to give the companies time to resolve regulatory
issues.




The companies will attempt to separate the two utilities,
which are now operationally joined, in order to close the sales
at different times, said a Dominion spokesman. Prior to this
agreement, either company could have unilaterally walked away
from the deal after June 30.


Read more at Reuters.com Bonds News

WRAPUP 1-Canadian construction, purchasing activity heat up

(Reuters) - The value of building permits issued in May soared 21.4
percent from April to a record C$6.8 billion ,
largely due to plans for office buildings in Western Canada,
Statistics Canada reported.




That was more than triple the 5.6 percent gain forecast by
analysts in a Reuters poll. Statscan revised the April decline
in building permits to 7.3 percent from 8.4 percent.


Read more at Reuters.com Economic News

WestJet boosts load factor, capacity in June

(Reuters) - Its capacity, measured by available seat miles, rose to
1.17 billion from a year-earlier 1 billion. Revenue passenger
miles climbed 21 percent to 940.3 million.




Year to date, WestJet's load factor is up 2.6 percentage
points to 81 percent.


Read more at Reuters.com Market News

Bonds fall on lower euro debt, firm U.S. services data

(Reuters) - Euro zone debt fell on Thursday before an interest rate decision by the European Central Bank which left rates on hold at 4 percent, as expected. In Britain, the Bank of England raised rates by 25 basis points to a six-year high of 5.75 percent, and most analysts expect another rate increase in 2007.




U.S. Treasuries extended their losses after the Institute for Supply Management's services index for June came in above forecasts, suggesting to investors that the economy may be growing at a faster pace than originally expected.


Read more at Reuters.com Hot Stocks News

Jobs market shows strength, jobless claims up

(Reuters) - Another report, by a global online careers and recruiting firm, showed a gauge of U.S. online recruiting dipped in June, suggesting that a seasonal summer hiring slowdown may have come earlier than normal.




First-time applications for state unemployment insurance benefits rose to 318,000 in the week ended June 30 from an upwardly revised 316,000 the prior week, the Labor Department said.


Read more at Reuters.com Business News

Randgold to upgrade Ivorian mine, seeks output rise

(Reuters) - African miner Randgold Resources expects to upgrade planned production at its new mine in Ivory Coast, helping the firm to boost output by over 50 percent by 2011, its chief executive said on Thursday.

The firm, currently operating two mines in Mali, plans to ramp up production to around 650,000 ounces a year by 2011 from 400,000 ounces currently, CEO Mark Bristow told a presentation.


Read more at Reuters Africa

Brazil's Real Weakens on Concerns Yield Difference to Treasuries to Narrow

(Bloomberg) -- Brazil's real fell on concern
inflationary pressure in the U.S. may lead to higher interest
rates in the world's largest economy and reduce the allure of
local bonds and stocks.

Yields on U.S. Treasuries rose today after a report showed
U.S. companies added more jobs than expected in June.


Read more at Bloomberg Currencies News

UPDATE 1-AMR, UAL to book gains from ARINC sale

(Reuters) - CHICAGO, July 5 - AMR Corp. said on Thursday that unit American Airlines is expected to record a gain of about $140 million from the sale of shares in ARINC to an affiliate of Carlyle Group [CYL.UL].



The sale of its stake in ARINC, a provider of transportation communications and systems engineering, is expected to close by Oct. 31. AMR said it expects to receive proceeds of about $194 million.


Read more at Reuters.com Mergers News

RPT-US services growth rises unexpectedly in June -ISM

(Reuters) - The Institute for Supply Management's services index rose
to 60.7 in June from 59.7 in May. The median forecast among
analysts polled Reuters was 58.0. A number above 50 indicates
growth in the sector.




Read more at Reuters.com Economic News

UPDATE 1-Hilton would pay $560 mln Blackstone break-up fee

(Reuters) - Blackstone, which agreed to buy Hilton for about $20
billion plus debt, will pay Hilton $660 million if it backs out
of the deal, Hilton said in a filing with the U.S. Securities
and Exchange Commission.




Break-up fees are customary in takeover deals and are put
in place to dissuade the sides from walking away.


Read more at Reuters.com Bonds News

Generic drugs weigh on June sales at CVS, Rite Aid

(Reuters) - At each chain, the rise in same-store sales of general
merchandise such as candy and cosmetics, outpaced same-store
pharmacy sales. Such growth was also seen at Walgreen Co.
, which reported its June sales results on Tuesday.




Generic drugs sell at lower prices than their branded
counterparts but are generally more profitable for drugstores.


Read more at Reuters.com Market News

European Stocks Rebound, Led by Carrefour, Michael Page; Zardoya Declines

(Bloomberg) -- European stocks rebounded, led by
Carrefour SA.

Europe's Dow Jones Stoxx 600 Index was little changed at
397.44 as of 1:00 p.m. in London, after falling as much as 0.5
percent earlier. The Stoxx 50 rose less than 0.1 percent, while he
Euro Stoxx 50, a measure for the euro region, retreated 0.1
percent.


Read more at Bloomberg Stocks News

Alliance Boots, Altadis, Ladbrokes: European Credit-Default Swap Movers

(Bloomberg) -- The risk of owning European corporate
bonds rose, according to traders of credit-default swaps.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index increased 3,000
euros to 234,500 euros at 11:55 a.m. in London, according to
JPMorgan Chase & Co.


Read more at Bloomberg Bonds News

European Stocks Drop on Rate Concern; Iberdrola, Societe Generale Decline

(Bloomberg) -- European stocks fell for the first
time in three days, led by utilities and banks, on concern
central banks will signal further interest-rate increases.

Iberdrola SA, Spain's second-biggest power company, and
Societe Generale SA, France's No. 2 bank by market value, paced
the decline. Deutsche Telekom AG dropped after a report Europe's
largest phone company is struggling to find a partner for its T-
Systems computing-services division.


Read more at Bloomberg Stocks News

Concho Resources sees IPO of 21.2 mln shares at $14-$16 each

(Reuters) - Midland, Texas-based Concho said it has been authorized to
apply to have its common stock listed on the New York Stock
Exchange under the symbol "CXO."





Read more at Reuters.com Bonds News

Clean energy drive complicated by coal, China - Soros

(Reuters) - Battling the energy blights of global warming and corruption is complicated by dependence not just on oil, but on coal, as well as by China's quest for fuel in Africa and central Asia, billionaire investor George Soros said.

He voiced concern the world's quest for secure energy supplies meant it would be very hard to move away from environmentally damaging, but widely available coal.


Read more at Reuters Africa

U.S. Stock-Index Futures Are Little Changed; Hilton Advances, GM Declines

(Bloomberg) -- U.S. stock-index futures were little
changed before reports that may provide evidence on the strength
of the economy and the outlook for interest rates.

Shares of Hilton Hotels Corp. traded in Germany above their
July 3 close after the second-biggest U.S. hotel chain agreed to
a $20 billion buyout. Huntsman Corp. jumped after Apollo
Management LP offered $6.35 billion for the chemical maker.
General Motors Corp. dropped after the automaker reported a
decline in U.S. sales.


Read more at Bloomberg Stocks News

Exploration firms BRC, Diamond Core to merge

(Reuters) - Canadian-listed BRC Diamond Corp. has agreed to acquire South Africa's Diamond Core Resources Ltd to create a group exploring for gems in South Africa and Congo, the firms said on Thursday.

After the proposed deal, in which BRC will acquire Diamond Core in exchange for shares, BRC shareholders will own 53 percent of the company and Diamond Core shareholders the rest.


Read more at Reuters Africa

GM the exception in Canada June auto sales rise

(Reuters) - The automaker -- which on Wednesday introduced an
employee-pricing program on most of its 2007 models -- sold
5,607 cars and 16,422 trucks last month.




Ford Motor Co. of Canada sales rose to 25,439
vehicles, up 0.6 percent from 25,282 in the same month of 2006,
according to industry analyst Dennis DesRosiers.


Read more at Reuters.com Business News

Indonesia's Central Bank Cuts Interest Rate for 13th Time to Spur Growth

(Bloomberg) -- Indonesia's central bank cut its
interest rate for the 13th time since May last year to
accelerate economic growth after inflation eased.

Bank Indonesia Governor Burhanuddin Abdullah reduced the
rate used as a reference for bill sales by a quarter of a
percentage point to 8.25 percent, the lowest since the measure
was introduced in July 2005. Ten of 16 economists surveyed by
Bloomberg expected the move.


Read more at Bloomberg Emerging Markets News

European Stocks Rise; BHP Billiton, Lloyds, Carrefour Lead Gains

(Bloomberg) -- European stocks advanced for a third
day, led by BHP Billiton Ltd. and Anglo American Plc as metals
prices rose.

Lloyds TSB Group Plc, the U.K.'s biggest provider of
personal loans, and French retailer Carrefour SA increased after
brokers recommended buying the shares.


Read more at Bloomberg Stocks News

Saudi Aramco Raises Crude Oil Prices for Europe to Highest in Three Years

(Bloomberg) -- Saudi Aramco, the world's largest
state oil company, increased prices of most crude oil grades for
export to Europe to a three-year high as maintenance at North Sea
fields increased demand for Middle Eastern and Russian supplies.

The Dhahran, Saudi Arabia-based company raised prices for
shipments to Europe in August by between 40 cents and 70 cents a
barrel, Aramco said in an e-mailed statement late yesterday. The
oil producer also increased prices of Arab Medium and Arab Heavy
prices for shipment to Asia, and cut prices of all grades it
sells to the U.S. by 35 cents to 50 cents a barrel.


Read more at Bloomberg Energy News