Globalization is a tough sell, GE's Immelt says

(Reuters) - "If you put globalization up for a popular vote in the United States, I think it would lose 60/40," he told the India Institute of Technology Alumni 2007 Global Conference, a Silicon Valley event attended by thousands of India's top academic and business elite.




Immelt was responding to a moderator's question on whether the internationalization of the economy was likely to come under attack as the U.S. presidential election cycle heats up.


Read more at Reuters.com Business News

UPDATE 3-Chile's LAN director Pinera fined over share trade

(Reuters) - The regulator said Pinera should not have bought the 3
million LAN shares in July last year while he had information
about LAN's unpublished second-quarter results. But it also
accepted the transaction was not driven by his knowledge of
that information.




"At the moment at which he made the purchase, was
aware of details of the company's financial balance, which were
not in the public domain," the regulator said.


Read more at Reuters.com Market News

U.S. 2nd-quarter profits seen surprising to upside

(Reuters) - Signs of a strong job market have helped fuel optimism about the second-quarter reporting period, which begins in earnest next week, even as the pace of economic growth has raised concerns about higher interest rates, according to analysts.




On Friday, the Labor Department reported U.S. employers added 132,000 jobs in June and that payrolls rose more than previously thought in April and May. Wages also increased.


Read more at Reuters.com Business News

TD Ameritrade will not let funds inspect its books

(Reuters) - The funds have argued that any merger discussions by the
brokerage must be free of the influence of Toronto-Dominion
Bank , which owns 40 percent of TD Ameritrade.




Read more at Reuters.com Bonds News

U.S. Company Bond Risk Rises for Fifth Week, Credit Default Swaps Show

(Bloomberg) -- The perceived risk of owning U.S.
corporate bonds rose for a fifth week on concerns that subprime
mortgage losses and riskier debt loads at companies will stem
the flow of money into credit markets.

The CDX North America Crossover Index, a benchmark
measuring the perceived credit quality of companies at the
threshold of investment-grade ratings, jumped $9,000 per $10
million in bonds this week to $202,000, its highest in almost a
year, according to CMA Datavision in London. An increase in the
five-year credit-default swap contracts signals deterioration in
the perception of creditworthiness.


Read more at Bloomberg Bonds News

U.S. Stocks Advance on Takeovers; CBOT Holdings, Exxon Mobil Shares Rise

(Bloomberg) -- U.S. stocks climbed and the Standard
& Poor's 500 Index posted its biggest weekly advance since
April, helped by takeovers and improved earnings prospects for
energy companies.

CBOT Holdings Inc., owner of the third-largest futures
exchange, climbed to a record after the Chicago Mercantile
Exchange raised its acquisition offer. Exxon Mobil Corp., the
world's biggest oil company, led energy producers to a peak
after crude oil jumped to a 10-month high.


Read more at Bloomberg Stocks News

Sugar Falls in New York on Speculation India May Export More Raw Supplies

(Bloomberg) -- Sugar in New York fell on speculation
India, the world's second-biggest producer, may boost exports of
the sweetener.

India's sugar output will rise to 30.4 million metric tons
this year from 20.9 million last year, Ratzeburg, Germany-based
F.O. Licht said in a report this week. India plans to export at
least 500,000 tons of raw sugar between December and March,
Jayanthilal B. Patel, chairman of industry-funded trading firm
Indian Sugar Exim Corp., said last month.


Read more at Bloomberg Commodities News

Mexico Bolsa Rises to Record, Led by America Movil; Chilean Stocks Decline

(Bloomberg) -- Mexico's main stock index jumped to a
record, heading for its biggest weekly gain since March, as
emerging markets rallied and Standard & Poor's said it may raise
the country's credit rating.

The Bolsa index advanced 369.96, or 1.2 percent, to 32,547.79
as of 1:46 p.m. in New York, led by America Movil SAB, Latin
America's biggest mobile phone company. The index was up 4.5
percent for the week, and today eclipsed a June 5 record. Brazil's
main stock index was heading for it biggest weekly gain in three.


Read more at Bloomberg Stocks News

Copper Futures Post Second Weekly Gain Amid Labor Unrest, Tight Supplies

(Bloomberg) -- Copper, little changed in New York,
capped a second straight weekly gain as labor unrest raised
concern production may be cut during a time of tight supplies.

Workers have started or threatened strikes in Chile, the
world's largest copper producer, Peru and Mexico. Inventories of
the metal in London have dropped 42 percent this year as
suppliers failed to meet rising demand from China, the world's
biggest consumer of the metal. The price of copper has gained 6.2
percent in the last two weeks amid the labor disputes.


Read more at Bloomberg Commodities News

Wheat Futures, Little Changed, Head for Weekly Gain on U.S. Export Demand

(Bloomberg) -- Wheat futures, little changed today
in Chicago and Kansas City, headed for weekly gains as demand
for U.S. supplies exceeded expectations after prices declined
from record levels.

U.S. exporters sold 538,400 metric tons of wheat last week,
more than the 200,000 to 400,000 tons forecast by Citigroup
Global Markets in Chicago. Advance sales are up 22 percent since
June 1 compared with the same period a year earlier, the
Department of Agriculture said today. Futures in Chicago have
fallen about 7 percent from the highest ever on June 29.


Read more at Bloomberg Commodities News

Strong jobs growth? Thank a tourist

(Reuters) - Merrill Lynch analyst David Rosenberg says at least some of
the credit should go to tourists who are flocking to the United
States to capitalize on a weak dollar, helping to fill bars and
restaurants.




"Where is all the employment being created? Try the
leisure-hospitality sector -- the weak dollar has worked its
magic in this space," Rosenberg wrote in a note to clients.


Read more at Reuters.com Business News

CBOT, Golden Telecom, Mannatech, Raymond James, Rowan: 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 11:40 a.m. in New York.

CBOT Holdings Inc. (BOT US) rose $10.28, or 5 percent, to
$216.43. Chicago Mercantile Exchange Holdings Inc. (CME US)
raised its offer for the Chicago Board of Trade for a third time,
to $11 billion, to fend off rival Intercontinental Exchange Inc.
(ICE US) and form the world's largest futures exchange. Chicago
Merc shares fell $6.94 to $548.75, and Intercontinental shares
gained $3.11 to $154.92.


Read more at Bloomberg Stocks News

Statoil Planning Maintenance in August at Its Statfjord Field in North Sea

(Bloomberg) -- Statoil ASA, Norway's biggest oil
company, said it plans maintenance next month at its Statfjord A
oilfield in the North Sea.

``On Statfjord A, there will be a stop in August as
planned,'' said Eli Rye, a spokeswoman for Statoil in Stavanger,
Norway, where the company is based. Maintenance will begin Aug. 3
and last for 23 days, she said.


Read more at Bloomberg Energy News

UBS shake-up renews investment bank sale talk

(Reuters) - UBS abruptly replaced its CEO on Thursday night for unclear reasons, but the move followed the shut-down of its hedge fund business and the defection of dozens of top U.S. and European bankers who complained about the bank's unwillingness to commit more capital to leveraged finance.




UBS share gains over the past 18 months have also lagged those of European peers Credit Suisse and Deutsche Bank .


Read more at Reuters.com Mergers News

BP Says Inspection, Repair of Teesside Gas Pipeline in U.K. May Take Weeks

(Bloomberg) -- BP Plc, Europe's second-largest oil
and natural-gas company, said repairs to a pipeline transporting
North Sea gas to the U.K.'s Teesside terminal may take ``a number
of weeks,'' after a ship's anchor damaged its protective coating.

The link was shut on July 1 to investigate damage caused by
the ship. BP will conduct a further inspection of the damage to
determine the scope of repairs that are required, spokeswoman
Joanne McDonald said today in a telephone interview.


Read more at Bloomberg Energy News

Coffee Falls for Fourth Straight Session in New York on Rising Stockpiles

(Bloomberg) -- Coffee futures fell for the fourth
straight session in New York as warehouse supplies rose and
Brazil, the world's largest producer, received favorable weather
for its crop.

Stockpiles in warehouses monitored by the New York Board of
Trade rose to 4.19 million bags as of July 4, a gain of 9,600
from the day before. There were 4.17 million bags stored at the
exchange's delivery points in New York, New Orleans, Hamburg,
Miami and Antwerp, Belgium, at the end of June.


Read more at Bloomberg Commodities News

Canada Stocks Fall on Rate Concern, Led by Royal Bank, Research in Motion

(Bloomberg) -- Canadian stocks fell, led by Royal Bank
of Canada, after a better-that-expected jobs report fanned
speculation that the central bank will raise borrowing costs next
week to cool the economy.

Research In Motion Ltd. declined after reaching a record
yesterday.


Read more at Bloomberg Stocks News

Oil Climbs to 10-Month High on Concern Unrest in Nigeria Will Curb Exports

(Bloomberg) -- Crude oil rose to a 10-month high on
concern that unrest in Nigeria will curb the flow of oil from
Africa's biggest producer.

The main militant group in Nigeria's oil-producing Niger
River delta region condemned the kidnapping of a 3-year-old
British girl. Oil output by the Organization of Petroleum
Exporting Countries was little changed last month, a Bloomberg
News survey showed. Brent oil, produced in the North Sea, is also
rising because of planned maintenance at a field in the region.


Read more at Bloomberg Commodities News

Gold pares losses after hitting one-week lows

(Reuters) - Gold pared losses after falling to a one-week low on Friday, as the dollar steadied after rising on better-than-expected U.S. jobs data.

Spot gold fell as low as $645 an ounce, the lowest since June 28, before rising to $648.20/649.00 1342 GMT, against $649.30/$650.10 in New York late on Thursday.


Read more at Reuters Africa

Share of home prices' fall most in 15 years: survey

(Reuters) - That's up from 5 percent reporting falling home values last
year and just below a peak of 22 percent in the last quarter of
1992, during the last downturn in U.S. residential real estate
markets.




"The impact will be much smaller home equity cash-outs
curtailing consumption spending," Curtin wrote.


Read more at Reuters.com Bonds News

TREASURIES-Bonds fall on surprisingly strong jobs report

(Reuters) - The yield on the two-year note rose above five percent for
the first time since June 19.




Read more at Reuters.com Bonds News

Mugabe warns firms against halting production

(Reuters) - Mugabe was addressing thousands of ruling ZANU-PF party
supporters in Harare, some who had earlier marched through
Zimbabwe's capital in support of the freeze introduced to curb
the world's highest inflation rate of over 4,500 percent.




The march came ahead of a ZANU-PF party meeting to adopt
tougher measures against firms defying the freeze, which was
introduced last week when the government ordered businesses to
put prices back to June 18 levels.


Read more at Reuters.com Economic News

RPT-Wendy's 2nd-quarter same-store sales rise

(Reuters) - Wendy's last month said it was putting itself up for sale
and slashed its full-year earnings forecast due to
lower-than-expected same-store sales and increased commodity
costs.




Read more at Reuters.com Market News

Bank of America to stand trial over Parmalat

(Reuters) - "When the case comes to trial, we believe the evidence will show that the charges against Bank of America are completely unfounded," it said.




Judicial sources said the trial is to start on January 23 in Milan.


Read more at Reuters.com Business News

Dollar Rises Versus Yen on Speculation Payrolls Exceeded Analyst Forecasts

(Bloomberg) -- The dollar rose against the yen on
speculation a U.S. report will show payrolls exceeded forecasts
by economists after stronger-than-expected jobs data yesterday.

The U.S. currency gained for a fourth day against the yen
after a private report yesterday showed companies unexpectedly
added the most workers in seven months in June. Japan's currency
fell to a record against the euro as rising global interest
rates prompted Japanese investors to buy assets abroad.


Read more at Bloomberg Currencies News

Green Mountain Coffee sets 3-for-1 stock split

(Reuters) - A stock split reduces the share price by increasing the
number of shares outstanding, and can make it easier for
smaller investors to buy shares.




Green Mountain shares closed Thursday at $86.48 on the
Nasdaq.


Read more at Reuters.com Government Filings News

Mugabe supporters march in support of price freeze

(Reuters) - The march was planned ahead of a ruling ZANU-PF party
meeting to adopt tougher measures against firms defying the
freeze, which was introduced last week when the government
ordered businesses to put prices back to June 18 levels.




The move, which sparked frenzied buying from shoppers, came
after prices of some goods tripled within a week.


Read more at Reuters.com Economic News

France Tel may seek pv equity partners to invest abroad

(Reuters) - "There are situations where to make an investment, we can
split with a private equity fund. The benefit is that you burn
less cash to enter a country," Didier Lombard told a meeting of
the Anglo-American Press Association in Paris.




"It was the case in Austria. It worked well and I intend to
continue that," he added.


Read more at Reuters.com Bonds News

U.S. stock futures hold before jobs, market wary

(Reuters) - A 4.4 percent rise in shares of iPhone maker Apple
on Thursday boosted the Nasdaq Composite , while gains in
the broader blue chip market were restrained by another rise in
Treasury yields ahead of the June employment report.




Apple shares were up 1.5 percent in Frankfurt and
were last at 97.71 euros, making them one of the top gainers
among major U.S. stocks traded in Europe.


Read more at Reuters.com Bonds News

EIB, Air Liquide, CRH, Prologis Plan to Sell Debt: European Bond Alert

(Bloomberg) -- The following is a list of bond sales
denominated in euros or pounds and expected in the coming days
and weeks.

Investment-Grade Sales


Read more at Bloomberg Bonds News

FTSE underpinned by miners, oils pre-payrolls

(Reuters) - Britain's top share index rebounded slightly on Friday, underpinned by mining and oil companies but investors were cautious ahead of key U.S. jobs data.

Miners generally performed well after Credit Suisse raised its price forecast on precious and base metals, prompting it to rise its price targets for some metal and mining companies.


Read more at Reuters Africa

Gold steady, Tokyo dips ahead of U.S. data

(Reuters) - In a move seen as bullish for the price of gold, Newmont Mining Corp. said on Thursday it had scrapped its entire 1.85 million-ounce gold hedge position.




While the announcement sent the shares of the Denver-based gold company, the world's second-biggest producer after Canada's Barrick Gold Co. , up 2.3 percent in after-hours trading, it had little immediate impact on gold prices.


Read more at Reuters.com Hot Stocks News

Watchdog hopes to wrap up G.Fields probe in Aug

(Reuters) - The Financial Services Board launched a probe in April
after shares in Gold Fields shares jumped on a report that a
U.S. financier could bid for the firm.




Gerhard van Deventer, executive director of the FSB's market
abuse department, said the next meeting of the unit's
directorate was due in late August.


Read more at Reuters.com Government Filings News

Australia, New Zealand Dollar's Rise Versus Yen as Higher Yields Attract

(Bloomberg) -- The Australian dollar rose to a 16-
year high and New Zealand's currency traded near the strongest in
20 years against the yen as investors were lured to the two
nations' higher-yielding assets.

New Zealand's dollar headed for a sixth weekly rise versus
the yen, the longest winning streak in 2 1/2 years, on the
nation's record 8 percent interest rate. Australia's 6.25 percent
key rate helped the currency rebound from last week's decline.
Investors borrow in Japan, where the overnight rate is 0.5
percent, and buy assets in the Southern Hemisphere nations in a
strategy known as the carry trade.


Read more at Bloomberg Currencies News

South Korean Stocks Rise, Completing Best Week in 20 Months; Samsung Jumps

(Bloomberg) -- South Korean stocks rose for the
fifth day, capping the best week since November 2005. Samsung
Electronics Co. surged the most in more than two years and Hynix
Semiconductor Inc. jumped to a nine-month high after brokerages
lifted their ratings on the stocks.

``Market sentiment is that we're past the chip-price trough
and that we'll see a second-half recovery,'' said Cho Min Keon,
who manages $540 million at Kyobo Investment Management Co. in
Seoul. ``Chipmaker stocks should be able to meet those
expectations.''


Read more at Bloomberg Stocks News

ICI, Standard Life, Rio Tinto Shares May Move: 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 yesterday's market close.

The benchmark FTSE 100 Index declined 37.9, or 0.6 percent,
to close at 6635.20 in London. The FTSE All-Share Index fell
17.27, or 0.5 percent, to 3428.06.


Read more at Bloomberg Stocks News