Algeria Oil Minister Says Crude Market Well Supplied, El Moudjahid Says

(Bloomberg) -- The international crude oil market
is well supplied, Algerian state-run newspaper El Moudjahid
said, citing the oil minister of the North African nation,
Chakib Khelil.

A shortage of oil-refining capacity and political unrest in
petroleum-producing nations is causing prices to rise rather
than a shortage of crude, Khelil told the Algiers-based daily.
Oil prices are going to stay at a ``high'' level throughout the
summer as consumption increases with people going on holiday, he
said.


Read more at Bloomberg Energy News

Canadian Oil Sands Trust, EnCana, Nova and TSX: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed.
Symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index fell 400.17, or
0.8 percent, to 14,468.33 in Toronto, for its biggest drop since
April 2004.


Read more at Bloomberg Stocks News

Volvo Q2 pretax lags forecast

(Reuters) - The Sweden-based firm, which sells heavy-duty trucks under
the Renault and Mack brands as well as its own name, said it saw
the North American truck market contracting to 200,000 to
220,000 units this year from 350,000 units in 2006.




It stood by its forecast of a European truck market of
330,000 units this year.


Read more at Reuters.com Market News

Fed's Poole Says Inflation Is Slowing `a Bit,' Subprime Damage Contained

(Bloomberg) -- Federal Reserve Bank of St. Louis
President William Poole said inflation is ``moderating just a
bit'' and suggested the central bank can afford to wait before
lowering interest rates.

Poole, answering questions after a speech in Wilmington,
Delaware, late yesterday, repeated his prediction of July 20
that mounting delinquencies among subprime mortgages won't hurt
the economy much.


Read more at Bloomberg Bonds News

U.S. Subprime Market's Rout Gives `Serious Reasons to Worry,' Moody's Says

(Bloomberg) -- The credit market rout caused by the
slump in U.S. subprime loans gives ``serious reasons to worry''
and is a ``reality check,'' without posing a systemic threat,
according to Moody's Investors Service.

While the turmoil has caused some investors to reassess
credit risk, others are ready to acquire assets at lower prices,
given the ``ample liquidity'' available, Moody's said in the
report. The readiness to buy means there is no generalized threat
to the integrity of the financial system, Moody's said.


Read more at Bloomberg Currencies News

Shanghai Auto to Sell 8 Billion Yuan of Bonds to Aid Purchases, Roewe Cars

(Bloomberg) -- Shanghai Automotive Co., China's
largest carmaker, plans to sell as much as 8 billion yuan ($1.06
billion) of bonds to help fund the development of its own-brand
Roewe sedans and acquisitions.

The six-year bonds will give investors call warrants, or the
right to buy shares at a fixed price in the future, the company
said in statement today. It didn't say when the sale
would take place, how many call warrants investors would receive
or the trigger price.


Read more at Bloomberg Bonds News

Chrysler warns weak dealers may shut them down: report

(Reuters) - The paper reported that 40 to 50 dealers in the U.S. Great Lakes region who had been missing monthly sales goals received letters from Chrysler earlier this month.




The letters warned them that they must improve their performance within 180 days or Chrysler would begin the process to end their franchises, the paper said, citing two dealers who received the letters.


Read more at Reuters.com Business News

Australian Dollar Strengthens on Faster-Than-Expected Inflation Report

(Bloomberg) -- The Australian dollar gained and
bonds fell after a government report showed inflation was faster
than expected in the second quarter. Bonds fell.

The currency bought 88.28 U.S. cents at 11:36 a.m. in
Sydney from 88.05 cents immediately before the report. The local
dollar traded at 88.45 cents late in Asia yesterday when it
reached 88.63 cents, the highest since February 1989.


Read more at Bloomberg Currencies News

First Industrial posts higher quarterly FFO

(Reuters) - FFO removes the profit-reducing effect that depreciation --
a noncash accounting item -- has on earnings.




In April, First Industrial said it expected 2007 FFO in the
range of $4.40 to $4.60 a share. On Tuesday, it said it
expected FFO for the full year of $4.45 to $4.65.



Read more at Reuters.com Market News

South Korea's Kospi Index Declines, Led by Samsung Electronics, Posco

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, fell 1.39 percent at 9:05 a.m.

The index of 731 companies traded on the Korea Exchange
fell 27.77 to 1,964.49. Among the stocks in the index, 108 rose,
476 fell and 147 were unchanged.


Read more at Bloomberg Stocks News

Moody's says turbulence doesn't pose systemic risk

(Reuters) - "The shock-absorption capacity of the 'core' of the
financial system is very high," the ratings agency said in a
report.




It said it was unlikely the system would see problems
similar to that caused by the collapse of hedge fund Long-Term
Capital Management in 1998 in the wake of the Russian debt
crisis.


Read more at Reuters.com Bonds News

UPDATE 1-Boston Properties second-quarter FFO rises

(Reuters) - Second-quarter funds from operations, or FFO, were $142.9
million, or $1.18 per diluted share, compared with the
company's forecast of FFO of $1.12 or $1.13 per share, the
company said on Tuesday.




During the year-earlier quarter, FFO totaled $129.4
million, or $1.10 per diluted share.


Read more at Reuters.com Market News

Amazon.com, Jones Lang LaSalle, RF Micro Advance: U.S. After-Hours Wrap

(Bloomberg) -- Amazon.com Inc. surged as much as 20
percent in extended U.S. trading. The world's biggest online
retailer increased its annual sales forecast and said profit more
than tripled after it reduced technology spending and boosted
sales of electronics.

Second-quarter net income rose to $78 million, or 19 cents a
share, from $22 million, or 5 cents, a year earlier, Seattle-
based Amazon said today in a statement. The results beat
analysts' estimates by 3 cents. Amazon shares rose $13.07, or 19
percent, to $82.32 as of 6:29 p.m. in New York.


Read more at Bloomberg Stocks News

UPDATE 1-Choice Hotels profit up, outlook falls short

(Reuters) - The Silver Spring, Maryland-based company, whose brands
include Comfort Inn, Econo Lodge and Rodeway Inn, had
second-quarter net income of $28.6 million, or 43 cents per
share, compared with year-ago net income of $24.1 million, or
36 cents per share.




Results from the most recent quarter topped analysts'
average call for a per-share profit of 41 cents, according to
Reuters Estimates.


Read more at Reuters.com Market News

Raymond James quarterly profit up 20 pct

(Reuters) - Raymond James is based in St. Petersburg, Florida.





Read more at Reuters.com Market News

KKR, Homeowners Face Funding Drain as Wall Street's CDO Machine Shuts Down

(Bloomberg) -- The Wall Street money-machine known as
collateralized debt obligations is grinding to a halt, imperiling
$8.6 billion in annual underwriting fees and reducing credit for
everyone from buyout king Henry Kravis to homeowners.

Sales of the securities -- used to pool bonds, loans and
their derivatives into new debt -- dwindled to $9.1 billion in the
U.S. this month from $42 billion in all of June, analysts at New
York-based JPMorgan Chase & Co. said in a report yesterday. The
market, which was ``virtually shut'' earlier this month, is
showing ``signs of life,'' the bank said.


Read more at Bloomberg Exclusive News

Dollar May Fall to Record Versus Euro as Housing, Credit Concerns Spread

(Bloomberg) -- The dollar may decline to another
record low against the euro as concern increases that a
worsening U.S. housing market will spur tougher lending
practices and erode demand for riskier assets.

The U.S. currency may drop for a fourth day versus the yen
for the first time in more than a month on an industry report
today forecast by economists to show sales of existing homes
fell to the lowest in four years. The yen's gains may be limited
before a report on July 27 forecast to show Japan's core
consumer prices probably fell for a fifth straight month.


Read more at Bloomberg Currencies News

Bancroft Dow Jones decision seen next week: source

(Reuters) - Bancroft made his statement to reporters in Boston on Monday after the family met to officially receive Murdoch's bid and to ask bankers, advisers and lawyers any questions they had about it.







Read more at Reuters.com Mergers News

UPDATE 1-Sigma-Aldrich 2nd-quarter earnings rise

(Reuters) - Net income for the quarter rose to $79.7 million, or 60
cents a share, from $70.3 million, or 52 cents a share, a year
ago.




Analysts on average expected earnings of 56 cents a share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Chubb posts higher 2nd-qtr profit, raises view

(Reuters) - Chubb, based in Warren, New Jersey, said operating earnings, which analysts use to measure performance because it excludes investments, rose to $648 million, or $1.60 per share.




Analysts on average had expected the high-end property insurer to earn $1.39 a share, according to Reuters Estimates.


Read more at Reuters.com Market News

Aastra revenue rises on strong European sales

(Reuters) - However, without charges that included a big gain from
discontinued operations recorded in 2006, the year-before
period's profit from continuing operations actually would have
been C$7.5 million, or 41 Canadian cents a share, Aastra said.




Sales in the quarter rose to C$157 million from C$151.3
million.


Read more at Reuters.com Market News

AT&T profit rises on wireless, iPhone disappoints

(Reuters) - The iPhone results sent A&T stock down slightly, but shares of Apple Inc. , which makes the eagerly anticipated device, fell as much as 5 percent.




AT&T, the sole U.S. service provider for Apple's first phone, said it had activated 146,000 iPhone subscribers in the first two days after launch on June 29.


Read more at Reuters.com Business News

CP Rail sees no compelling case to split company

(Reuters) - "It's a model that has been around for a while, but we've never found a way to make it work," Fred Green told analysts in a conference call on the railway's second quarter results..



CP Rail said last week that Brookfield Asset Management had approached it with a bid proposal. Published reports say Brookfield is interested in splitting Canada's second-largest railway into two units.


Read more at Reuters.com Mergers News

NJ's Commerce Bancorp profit falls, eyes branches

(Reuters) - By Jonathan Stempel



NEW YORK, July 24 - Commerce Bancorp Inc. , said on Tuesday second-quarter profit fell 3 percent, as branch openings and deposit growth slowed amid federal probes business dealings at New Jersey's largest bank.


Read more at Reuters.com Government Filings News

Idex posts higher quarterly profit

(Reuters) - Net income in the second quarter rose to $41.6 million, or 51 cents a share, from $35 million, or 43 cents, a year earlier.



) Keywords: IDEX RESULTS/


Read more at Reuters.com Market News

U.S. Steel second-quarter profit falls

(Reuters) - Analysts on average were expecting $2.35 per share,
according to Reuters Estimates. Analysts lowered their
forecasts in April after U.S. Steel said second-quarter results
would be in line with the first quarter, putting them well
below the then-average Wall Street estimate of $2.62 per
share.





Read more at Reuters.com Market News

CORRECTION-Lilly beats 2nd qtr forecasts, raises '07 view

(Reuters) - But the Indianapolis drug maker said its net profit fell to $664 million, or 61 cents per share from $822 million, or 76 cents per share, a year earlier.




Excluding charges, including those related to acquisitions of Hypnion Inc. and Ivy Animal Health, Lilly earned 90 cents per share. Analysts on average expected 82 cents per share, according to Reuters Estimates.


Read more at Reuters.com Market News

Millicom CEO says competition not hurting margin

(Reuters) - The company, in its report, noted increased competitive
pressures.




Read more at Reuters.com Market News

Kimberly-Clark sales growth to slow in second half

(Reuters) - Earlier on Tuesday, Kimberly-Clark said that second quarter
sales rose 8.2 percent to $4.5 billion and sales in the first
six months of the year rose 8 percent to $8.89 billion.







Read more at Reuters.com Market News

S.African stocks slide on global jitters

(Reuters) - South African blue-chip stocks fell by more than 1.5 percent on Tuesday as a grim outlook for the U.S. housing market hit global equities and investors booked profits in local financial stocks.

The Johannesburg Top-40 index of blue-chip stocks slid as much as 1.55 percent but recovered slightly to trade 1.34 percent lower at 26,738.73 points by 1422 GMT. The All-share index dropped 1.22 percent to 29,521.29 points.


Read more at Reuters Africa

TEXT-S&P release on structured finance market in Brazil

(Reuters) - And according to a new report published by Standard & Poor's Ratings
Services, the country is expected to launch a residential mortgage-backed
securities sector later this year.




A combination of positive factors is responsible for the development of
RMBS in Brazil: a favorable economy, market stability, declining interest
rates, an enormous housing deficit, and increasing homebuilding and
house-financing activities. In addition, several banks with relevant home loan
portfolios have publicly stated their interest in securitizing part of these
assets .


Read more at Reuters.com Bonds News

NYSE fines Citigroup's Smith Barney $50 mln

(Reuters) - The Citigroup unit, which is an NYSE member firm, also
violated rules by failing to supervise trading of mutual funds
and maintain adequate records, the exchange said.





Read more at Reuters.com Government Filings News

CORRECTED-DEALTALK-Blackstone finds another benefit in China

(Reuters) - LONDON, July 23 - U.S.-based private equity firm
Blackstone Group appears to have killed three birds with
one stone by selling a nearly 10 percent stake to China for $3
billion in May.




Not only did it find a wealthy new investor and position
itself for deals in the world's most populous nation, but also
the deal raised the profile of its M&A advisory business by
leading to a highly visible role of advising the Chinese
government on the acquisition of a stake in Barclays .


Read more at Reuters.com Mergers News

Energizer profit rises, surprising Wall Street

(Reuters) - Earnings rose to $62.5 million, or $1.06 per share, in the fiscal third quarter ended June 30, from $51.3 million, or 83 cents per share, a year earlier.




Energizer said in April that earnings should fall as it spent more to advertise and promote its products. Analysts on average expected a profit of just 81 cents per share, according to Reuters Estimates.


Read more at Reuters.com Hot Stocks News

UPDATE 1-CDW posts higher quarterly profit

(Reuters) - The company said second-quarter net income rose to $80.1
million, or 99 cents a share, from $73.1 million, or 91 cents a
share, a year earlier. Net sales rose 24.4 percent to $2.03
billion.




Quarterly results were boosted by the company's purchase of
Berbee Information Networks in October 2006. On a comparable
basis, CDW sales rose 15 percent from a year ago to $1.88
billion.


Read more at Reuters.com Market News

Rohm & Haas second-quarter profit falls

(Reuters) - Quarterly profit fell to $160 million, or 74 cents a share, from a year-ago profit of $166 million, or 75 cents a share, the Philadelphia-based company said.



Excluding items, the company said it earned 78 cents a share from continuing operations.


Read more at Reuters.com Market News

Mexico's Peso Little Changed as Analysts Expect Higher Consumer Prices

(Bloomberg) -- Mexico's peso was little changed
before the central bank releases its report on consumer prices
in the first half of July.

The peso traded at 10.7744 per dollar at 8:45 a.m. in New
York, down 0.1 percent from 10.7674 per dollar yesterday.


Read more at Bloomberg Currencies News

Commerce Bancorp 2nd-qtr profit falls

(Reuters) - Commerce last month replaced Chief Executive Vernon Hill,
who founded the company 34 years earlier, under pressure from
regulators critical of the bank's business dealings with Hill's
family and other insiders.





Read more at Reuters.com Bonds News

Bowater's Second-Quarter Loss Widens on Newsprint Slump, Weaker Dollar

(Bloomberg) -- Bowater Inc., the newsprint maker
merging with Abitibi Consolidated Inc., said a second-quarter
loss widened on lower prices and losses resulting from a
stronger Canadian dollar.

The net loss was $62.6 million, or $1.09 a share, compared
with $10.6 million, or 18 cents, a year earlier, Greenville,
South Carolina-based Bowater, which has six of its 12
papermaking plants in Canada, said today in a statement. A 75-
cent loss was expected, the average estimate of 12 analysts
surveyed by Bloomberg. Sales fell 11 percent to $798.6 million.


Read more at Bloomberg Commodities News

BJ Services 3rd-qtr profit falls on Canada slowdown

(Reuters) - Revenue was $1.15 billion, up from $1.12 billion a year
earlier.







Read more at Reuters.com Market News

Biogen 2nd-qtr operating profit, drug sales rise

(Reuters) - Analysts had on average expected earnings of 63 cents a
share, according to Reuters Estimates.




Biogen posted net profit of $186 million, or 54 cents a
share, compared to a net loss of $171 million, or 50 cents a
share, a year ago when it took substantial one-time
acquisition-related charges.


Read more at Reuters.com Market News

UPDATE 2-DuPont second-quarter profit slips

(Reuters) - Profit declined marginally to $972 million, or $1.04 a
share, from $975 million, or $1.04 a share, a year earlier, the
Wilmington, Delaware-based company said.




Excluding items, earnings rose to $1.04 a share from $1.01.
Analysts on average had forecast $1.06, according to Reuters
Estimates.


Read more at Reuters.com Market News

Spain's Agbar to sell Applus+ to Carlyle -source

(Reuters) - Traders have said the winning bid for Applus+ could be as high as 1.4 billion euros .




Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Fall; DuPont, AT&T, Texas Instruments Shares Drop

(Bloomberg) -- U.S. stock-index futures fell after
DuPont Co., the country's third-biggest chemical maker, and Texas
Instruments Inc. reported earnings that missed analyst estimates.

Shares of DuPont and Texas Instruments, the biggest maker of
mobile-phone chips, declined in Europe. AT&T Inc. the largest
U.S. phone service provider, and McDonald's, the biggest
restaurant company, fell before reporting earnings. .


Read more at Bloomberg Stocks News

RCN files for resale of warrants

(Reuters) - The company sees proceeds, before expenses, of about $134
mln if all warrants are exercised at current exercise price of
$16.72 per share.





Read more at Reuters.com Bonds News

India's GAIL eyes equity in Trans-Sahara pipeline

(Reuters) - India's state-run GAIL (India) Ltd. said on Tuesday it was looking to buy equity in Trans-Sahara pipeline, which offered synergies for the gas distributor.

"Recently our representative met officials of Nigeria and Algeria in Brussels," GAIL Chairman U.D. Choubey told reporters.


Read more at Reuters Africa

CORRECTED - UPDATE 1-UBS sells notes exchangeable to 5 pct of BBVA

(Reuters) -




PARIS/MADRID, July 24 - UBS is selling
around 3.2 billion euros of notes exchangeable
into shares worth 4.9 percent of Spanish bank BBVA ,
the Swiss financial group said on Tuesday.


Read more at Reuters.com Mergers News

UPDATE 1-Check Point Software Q2 profit rises

(Reuters) - The Israel-based company said its second-quarter net profit
rose to $69.4 million, or 31 cents per share, from $65.7
million, or 27 cents per share, a year ago.




Excluding items such as equity based compensation expenses
and acquisition related charges in connection with the purchases
of NFR Security and Sweden's Protect Data, the company earned 38
cents per share.


Read more at Reuters.com Market News

U.K. Natural Gas for Today Falls on Forecast Supplies May Outstrip Demand

(Bloomberg) -- U.K. natural gas fell for the first day
in three as forecasts indicated supplies may outstrip demand for
the fuel today.

Gas for same-day delivery declined as much as 2.5 pence, or 8
percent, to 31.75 pence a therm, according to prices on Bloomberg
from the broker Spectron Group Plc. It traded at 31.95 pence at
9:04 a.m. London time. That's equivalent to $6.60 a million British
thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

GLOBAL MARKETS-Dollar wobbles, stocks dip as credit woes weigh

(Reuters) - Weakening credit markets, stemming from a fallout in the
high-risk U.S. subprime mortgages sector, have fanned concern
that firms could have difficulty financing the stream of M&A
deals which has fuelled world stocks to lifetime peaks this
month.




Investors are also worried that trouble in subprimes, which
target borrowers with poor credit histories, would leave banks
with bad loans, hurt corporate earnings and undermine consumer
spending.
Such worries prompted investors to buy back the low-yielding
yen they had borrowed to fund investment in high-return assets,
driving the Japanese currency to a two-month high versus the
dollar.


Read more at Reuters.com Bonds News

European Stocks Rebound, Led MAN AG, Akzo Nobel; ARM Holdings Declines

(Bloomberg) -- European stocks rebounded, led by MAN
AG and Akzo Nobel NV.

Europe's Dow Jones Stoxx 600 Index fell less than 0.1
percent to 394.94 at 8:22 a.m. in London. The Stoxx 50 added less
than 0.1 percent, while the Euro Stoxx 50, a measure for the euro
region, decreased 0.2 percent.


Read more at Bloomberg Stocks News

Mutual & Federal names Keith Kennedy MD

(Reuters) - South African short-term insurer Mutual & Federal has appointed Keith Kennedy as managing director to replace Bruce Campbell from August 16, the company said on Tuesday.

Campbell will be leaving after 34 years with the group to assume a new role as executive chairman of financial services firm Alexander Forbes.


Read more at Reuters Africa

Yuan Trades Near Two-Year High Against Dollar as China Acts to Cool Growth

(Bloomberg) -- The yuan traded near the highest
since the end of a dollar link in July 2005 on speculation China
will pursue faster currency gains as part of measures to curb
economic growth and inflation. Bonds were little changed.

China's central bank on July 20 raised interest rates for a
third time this year to help cool an economy that expanded at
the fastest pace in 12 years in the second quarter. Export
growth has fueled pressure for the yuan to rise and led to ``hot
money'' inflows, according to a research note by the nation's
top economic planner, China Securities Journal reported today.


Read more at Bloomberg Emerging Markets News