CVC Asia Sets Terms on $198 Million of Loans to Buy Genting's Paper Unit

(Bloomberg) -- CVC Asia Pacific Ltd. and its banks
set terms on 680 million ringgit ($198 million) of loans
denominated in dollars and the Malaysian currency to back its
purchase of Genting Bhd.'s paper unit.

The paper unit will borrow the equivalent of 380 million
ringgit for seven years, paying interest of 2.5 percentage points
more than the benchmark lending rates, according to a document
obtained by Bloomberg News.


Read more at Bloomberg Bonds News

UPDATE 1-Carphone Warehouse Q1 phone connections jump 20 pct

(Reuters) - Europe's largest independent mobile phone retailer said
distribution revenues rose to 706 million pounds , broadly in line with analysts' expectations, while
total mobile phone connections surged to 2.3 million. Total
revenues jumped 21.7 percent to 1.044 billion pounds.
Carphone Warehouse, which had been expected to deliver a
strong quarter, said it added 126,000 net new broadband
customers, taking its customer base to 2.4 million. Revenues at
its fixed-line business rose 49.5 percent to 345 million pounds.




"We have started the year well," said Chief Executive
Charles Dunstone in the statement. "The retail business is
enjoying good growth, and we continue to take market share."


Read more at Reuters.com Market News

Germany Needs Further `Structural' Economic Policy Changes, Moody's Says

(Bloomberg) -- Germany needs to take further steps
to address ``structural problems'' in the economy, including make
changes to the health-care system, while growth is at a six-year
high, Moody's Investors Service said in its annual report.

There is a ``risk'' that surging tax revenue, swelled by the
fastest expansion in almost six years, may conceal problems,
Moody's said. A revamp of the health-care system, a bone of
contention between the ruling parties in Chancellor Angela
Merkel's coalition government, should be at the top of the
agenda, Moody's said.


Read more at Bloomberg Currencies News

China Says Blue-Ear Pig Vaccine Is Effective, May Curb Disease From August

(Bloomberg) -- China, the world's largest pork
consumer, said a new vaccine for pigs against so-called Blue Ear
Disease is effective, and may curb the rate of new infections
among herds from next month.

Some farmers had used an older vaccine against new strains,
Li Jinxiang, deputy director of the veterinary bureau at the
Ministry of Agriculture, said yesterday. Officials were ``fairly
optimistic'' about resisting the spread of the disease, he said.


Read more at Bloomberg Commodities News

Copper Falls in Shanghai on U.S. Housing Slump, Dollar Gains; Zinc Lower

(Bloomberg) -- Copper in Shanghai fell for a third
day to the lowest in a week on signs that the U.S. housing market
remains mired in recession, damping demand in the world's second-
biggest consumer of the metal after China.

Sales of existing homes in the U.S. fell a fourth straight
month in June, the National Association of Realtors said in
Washington yesterday. Builders are the biggest users of copper in
the U.S., accounting for almost half of consumption. A stronger
dollar also made the metal, used in wires and pipes, more
expensive for holders of other currencies.


Read more at Bloomberg Commodities News

Asian Mining Stocks Decline, Led by BHP, on Metals Prices; Nomura Surges

(Bloomberg) -- Asian mining stocks declined, led by
BHP Billiton Ltd., after copper and zinc prices fell.

Lower earnings caused Nippon Electric Glass Co. to plunge
the most in two decades, while Nomura Holdings Inc. posted the
biggest jump in six years after it said net income rose fourfold.
Hyundai Motor Co. rose for an eighth straight day on speculation
its will today report a profit that exceeds analyst estimates.


Read more at Bloomberg Stocks News

JGBs slip as Treasuries stabilise, BOJ eyed

(Reuters) - Dealers also prepared for an 800 billion yen
auction of 20-year bonds during the session, which was seen
attracting some demand from market players looking to put on
positions betting for a renewed flattening of the yield curve.




The offer is a reopening of last month's issue, the No. 95,
with a 2.3 percent coupon. Results are due at 0345 GMT.


Read more at Reuters.com Bonds News

UPDATE 1-Mylan posts higher profit on Matrix acquisition

(Reuters) - The number of outstanding shares rose 17 percent, diluting
the quarter's per-share earnings, which were 32 cents versus 35
cents per share a year earlier.




Mylan said that excluding amortization of 5 cents per share
and a 15-cent-per-share non-cash loss on a foreign currency
contract related to its pending acquisition of Merck KGaA's
generics business, it earned 52 cents per share.


Read more at Reuters.com Market News

South Korean Won `Overshooting,' Kim Says, Triggering Slump in Currency

(Bloomberg) -- The South Korean won declined the
most in more than a month after Deputy Finance Minister Kim Sung
Jin said the currency is poised to drop from its strongest since
1997 as the current-account surplus shrinks.

The won has risen for the past six weeks, the longest
winning streak since January, as economic growth accelerated
last quarter and Moody's Investors Service raised the nation's
credit ratings. A dwindling current account surplus, the
broadest measure of trade, may result in less demand for the
currency.


Read more at Bloomberg Currencies News

Nikkei down 0.3 pct as Canon, tech stocks fall

(Reuters) - The broader TOPIX index shed 0.16 percent to 1,751.25.




Read more at Reuters.com Hot Stocks News

U.S. Xpress reports lower quarterly profit

(Reuters) - Quarterly revenue rose to $400.3 million.




The company also said that it has appointed a special
committee of independent directors to evaluate a tender offer
made by co-Chairmen Max Fuller and Pat Quinn on June 22 for all
of its outstanding Class A common stock at $20 per share.


Read more at Reuters.com Mergers News

Brisbane, Perth Office Rents Overtake Sydney, Fueled by Commodities Rally

(Bloomberg) -- Average office rents in Brisbane and
Perth soared in the past year thanks to a mining boom, taking
Australia's third- and fourth-largest cities past Sydney as the
country's priciest markets.

Office rents in the Queensland state capital Brisbane rose
68 percent in the year ended June 30 to average A$696 a square-
meter ($57 a square-foot), Jones Lang LaSalle Inc. said today in
a report. Offices in Sydney, Australia's largest city, fetch an
average A$588 a square meter, the report said. Rents in Perth,
Western Australia's capital, rose 45 percent.


Read more at Bloomberg Bonds News

Oil Rises a Second Day After U.S. Gasoline Supplies Fall for a Third Week

(Bloomberg) -- Crude oil rose a second day in New
York, after a report yesterday showed U.S. oil inventories fell
for a third week and gasoline demand was near a one-year high.

Oil stockpiles fell 1.1 million barrels last week as
refiners raised operating rates to their highest in 10 months,
the Energy Department said yesterday. Below-average gasoline
stockpiles unexpectedly increased by 793,000 barrels, aided by a
resurgence in imports.


Read more at Bloomberg Commodities News

UPDATE 1-Advanced Energy quarterly earnings fall

(Reuters) - The company, whose products are used to make
semiconductors, flat panel displays and solar cells, also
guided third-quarter below analysts' view.




Shares of Advanced Energy fell more than 6 percent to
$21.70 in late electronic trade, after closing at $23.14 on the
Nasdaq.


Read more at Reuters.com Market News

FMC Corp second-quarter net income falls

(Reuters) - Excluding items, the company's quarterly earnings rose to
$1.79 a share, from $1.47 a share a year earlier.




Quarterly revenue rose 11 percent to $657.9 million, the
Philadelphia-based company said.



Read more at Reuters.com Market News

GLOBAL MARKETS-U.S. stocks rise in choppy session, oil soars

(Reuters) - NEW YORK, July 25 - U.S. stocks ended a seesaw
session higher on Wednesday, as strong profits from companies
such as Boeing Co. offset concerns about financing for
corporate deals drying up.




A rise in shares of energy companies on the back of higher
oil prices also helped Wall Street. On the New York Mercantile
Exchange, September crude settled up $2.32, or 3.1
percent, at $75.88 a barrel after government data showed that
crude stocks fell last week as refinery usage rose.


Read more at Reuters.com Bonds News

UPDATE 2-AllianceBernstein 2nd qtr earnings $1.16 per unit

(Reuters) - AllianceBernstein, which had $793 billion under management
as of June 30, said earnings were $1.16 per unit, or $102
million, in the second quarter, compared to earnings of 89
cents a unit, or $77.3 million, in the period a year ago.




Analysts were expecting average earnings of $1.08 cents a
unit, according to a survey of eight analysts compiled by
Reuters Estimates.


Read more at Reuters.com Bonds News

New Zealand Dollar Falls on Concern Today's Rate Increase Will Be the Last

(Bloomberg) -- New Zealand's dollar fell and bonds
rose after the nation's central bank signaled today's increase
in interest rates to a record 8.25 percent may be the last.

The local dollar slid against all 16 most-active currencies
after the fourth straight increase, which was predicted by 12 of
16 economists surveyed by Bloomberg. Reserve Bank Governor Alan
Bollard said higher rated should ``contain inflation'' and the
currency's 28 percent rally against the U.S. dollar in the past
12 months is ``not sustainable.''


Read more at Bloomberg Currencies News

New Jersey, Municipalities Face Retiree Health-Care Bill of $68.9 Billion

(Bloomberg) -- New Jersey and its local communities
owe an estimated $68.9 billion in promised health-care benefits
for current and future retirees, according to a report to be
released tomorrow.

Jim Marketti, president of Communications Workers of
America Local 1032 in Trenton, said the figure was disclosed at
a briefing by state officials for union leaders on July 23. The
state hired Aon Corp. to calculate how much it may cost to pay
the benefits.


Read more at Bloomberg Bonds News

Huttig posts lower quarterly profit

(Reuters) - Second quarter revenues fell to $239.5 million from $296.3
million a year earlier.




Read more at Reuters.com Market News

CORRECTED - UPDATE 1-Stelco reports loss in second quarter on charges

(Reuters) - The Canadian steelmaker, which is on the auction block,
said it lost C$41 million in the second quarter, compared with
a loss of C$39 million in the first quarter. The company did
not provide a per-share figure.




Excluding the charges, and also factoring out a C$30
million foreign exchange gain on long-term debt, Stelco turned
a profit before income taxes of C$5 million, it said.


Read more at Reuters.com Mergers News

Siemens to buy Dade, fueling hopes for Beckman bid

(Reuters) - Shares of Beckman Coulter, the only major stand-alone company in the sector, were up nearly 8 percent.




Dade's deal with German industrial conglomerate Siemens is worth $77 per share, a 38 percent premium over Tuesday's closing price.


Read more at Reuters.com Mergers News

UPDATE 4-Randstad's weaker outlook hits staffing firm shares

(Reuters) - AMSTERDAM, July 25 - Dutch staffing company
Randstad disappointed investors on Wednesday by
warning of slower growth in the third quarter, triggering steep
falls in its shares and those of its rivals.




Despite a double-digit rise in second-quarter profit in line
with forecasts, Randstad's third quarter earnings per share
forecast of 0.95 euros fell short of the average of 1.10 in a
Reuters poll of six analysts, sending its shares down to a
four-month low.


Read more at Reuters.com Market News

UPDATE 1-Temple-Inland, Louisiana-Pacific beat expectations

(Reuters) - Temple-Inland said its net profit fell to $66 million, or
62 cents a share, from $191 million, or $1.70 a share, a year
earlier.




Excluding one-time items the company posted earnings of 59
cents a share, down from 97 cents a year earlier. Analysts, on
average, had forecast earnings of 57 cents a share, according
to Reuters Estimates.


Read more at Reuters.com Bonds News

St.Jude's bypass-surgery clean-up device gets US okay

(Reuters) - The device was already approved in the European Union and Canada, the company said.






Read more at Reuters.com Government Filings News

General Dynamics profit falls, but beats Wall St

(Reuters) - Lockheed Martin Corp. and Boeing Co. strongly raised full-year profit forecasts this week, while Northrop Grumman Corp. nudged up the bottom end of its forecast range.




General Dynamics, which makes Abrams tanks and Gulfstream aircraft, reported quarterly net profit of $513 million, or $1.26 per share, compared with $636 million, or $1.56 per share, in the year-ago quarter when its earnings were boosted by a gain from the sale of its aggregates business.


Read more at Reuters.com Hot Stocks News

US STOCKS-Wall St seen rebounding on solid profits

(Reuters) - NEW YORK, July 25 - U.S. stocks were set to start
higher on Wednesday, bouncing back from heavy losses, as solid
profits and positive outlooks from Boeing Co and
Amazon.com Inc. overcame concerns about the housing
slump.




The recovery followed stocks' worst one-day performance in
four months on Tuesday, fueled by disappointing earnings and
fear about spreading losses in the mortgage market.


Read more at Reuters.com Bonds News

UPDATE 1-Continental AG joins industry elite with VDO buy

(Reuters) - Pulling off its biggest ever takeover and virtually doubling
in size, Continental joined the ranks of the five biggest global
automotive parts suppliers, within reach of domestic rival and
industry leader Robert Bosch [ROBG.UL].




The VDO acquisition is also a victory for Chief Executive
Manfred Wennemer, who publicly announced his interest in buying
VDO as soon as Siemens said it planned to float a minority stake
in the business on the stock exchange this year.


Read more at Reuters.com Bonds News

Pride International says buys ultra-deepwater drillship

(Reuters) - Pride International expects the rig to be delivered in the
first quarter of 2010.





Read more at Reuters.com Mergers News

Copper Futures Decline in New York as U.S. Homebuilding Slump Cuts Demand

(Bloomberg) -- Copper fell for a third straight
session in New York on speculation a slump in homebuilding will
damp demand in the U.S., the world's second-largest consumer of
the metal.

Home resales in the U.S. probably fell for a fourth
straight month in June, economists said before an industry
report today. Copper has fallen 12 percent since reaching a
record high in May 2006 as a decline in U.S. home construction
curbs use of the metal in pipes and wiring.


Read more at Bloomberg Commodities News

FLIR Systems second-quarter profit rises

(Reuters) - Analysts on average expected earnings of 36 cents a share,
before items, on revenue of $169.9 million, according to
Reuters Estimates.





Read more at Reuters.com Market News

UPDATE 1-Allegheny Technologies' 2nd-quarter profit rises

(Reuters) - Net income was $206.5 million, or $2.00 per share, compared
with $144.3 million, or $1.41 per share, a year earlier, the
Pittsburgh-based company said.




Analysts on average expected the company to post earnings
of $1.92 per share, according to Reuters Estimates.


Read more at Reuters.com Market News

CORRECTED-Nova Chemicals second-quarter profit dips

(Reuters) - The company, Canada's biggest manufacturer of raw plastics,
said profit in the quarter was $80 million, or 96 cents a
share, down from $106 million, or $1.27 cents a share, in the
year-earlier quarter.







Read more at Reuters.com Market News

Diebold to delay Q2 results on revenue recognition change

(Reuters) - Diebold does not expect any impact on cash provided by
operating activities or its net cash position from the move, it
said in a statement.





Read more at Reuters.com Government Filings News

S.Africa's Denel cuts year loss to $80 million

(Reuters) - South African defence firm Denel cut its net loss for the year to March to 549 million rand from a loss of 1.36 billion rand in the previous year, and lifted turnover through new contracts, it said on Wednesday.

The troubled state-owned artillery, infantry and guided weapons manufacturer, which has received billions of rands in state assistance over the past three years, recorded a 17.8 percent rise in turnover to 3.27 billion rand.


Read more at Reuters Africa

Colgate quarterly profit rises, forecast unchanged

(Reuters) - Second-quarter Profit was $415.8 million, or 76 cents per share, compared with $283.6 million, or 51 cents per share, a year earlier.




Excluding special items, earnings were 84 cents per share. On that basis, analysts, on average, expected 83 cents per share, according to Reuters Estimates.


Read more at Reuters.com Business News

UPDATE 1-Monaco Q2 profit up, optimistic on achieving 2007 view

(Reuters) - July 25 - Recreational vehicle maker Monaco Coach Corp. posted higher second-quarter earnings, helped by increased sales of the largest Class A motor coaches despite tough market conditions, and said it was optimistic about achieving its 2007 outlook.



The company said its Class A business was up over 6 percent year-to-date through the quarter, compared to the overall Class A market, which was down 6.6 percent through May.


Read more at Reuters.com Market News

US STOCKS-Futures edge up on Amazon.com; housing in focus

(Reuters) - Earnings reports were due later on Wednesday from iPod and
iPhone maker Apple Inc , plane maker Boeing Co
and oil company ConocoPhillips .




Investors may also get direction from data on existing-home
sales in June due at 10 a.m. . The data will be
scrutinized for signs of further deterioration in the real
estate market.


Read more at Reuters.com Bonds News

UPDATE 1-EnCana raises annual outlook, despite profit drop

(Reuters) - Canada's biggest oil and gas producer said net income fell
to $1.45 billion, or $1.89 a a share for the quarter ended June
30, from $2.16 billion, or $2.55 a share, for the same time a
year earlier.




Operating earnings, which exclude a number of one-time
items, rose 67 percent to $1.38 billion, or $1.80 a share, from
$824 million, or 98 cents a share, in the second-quarter of
last year.


Read more at Reuters.com Market News

Hudson City 2nd-qtr profit falls

(Reuters) - Net income for the Paramus-based parent of Hudson City Savings Bank fell to $72.7 million from $73.2 million a year earlier. Profit per share rose to 14 cents from 13 cents because the company had fewer shares outstanding.






Read more at Reuters.com Bonds News

Rex Energy IPO size cut, to be priced at $11 a share

(Reuters) - Net proceeds, which are expected to be about $89.2 million
after deducting expenses, will be used to retire certain debt,
the company said in a statement.





Read more at Reuters.com Government Filings News

US stock futures up, earnings, home sales eyed

(Reuters) - U.S. markets took a tumble on Tuesday, with the three major
indexes posting their worst one-day performance since March 13,
as some disappointing earnings results heightened concerns about
the housing market.




"Results have been varied so far. There have been a few
positive updates but also some that were not so pleasant and
that has showed that earnings are not so stable," said
Heinz-Gerd Sonnenschein, strategist at Germany's Postbank.


Read more at Reuters.com Bonds News

UPDATE 3-Stork sees Candover bid on track, no break-up

(Reuters) - AMSTERDAM/LONDON, July 25 - Dutch industrial group
Stork and the private equity fund seeking to buy it
for 1.5 billion euros have no plans to break-up the
company despite pressure from a major shareholder to do so.




Iceland's Marel has built up a 20 percent stake in
Stork, trying to buy Stork's food systems business, which makes
meat and poultry processing equipment.


Read more at Reuters.com Mergers News

Steris quarterly profit falls

(Reuters) - Net income in the quarter fell to $13.2 million, or 20 cents per share, from $14.7 million, or 22 cents per share, in the year-ago period.






Read more at Reuters.com Market News

Turkey's June Ex-Interest Budget Surplus Narrows on Pre-Election Spending

(Bloomberg) -- Turkey's June budget surplus,
excluding interest payments on debt, narrowed from a year earlier
because of an increase in pre-election spending, according to
Finance Ministry figures.

The so-called primary surplus narrowed to 687 million liras
($550 million) from 4.9 billion liras in June 2006, the ministry
in Ankara said in an e-mailed statement today. The overall budget
posted a deficit of 2.5 billion liras, compared with a surplus of
2.1 billion liras the previous June.


Read more at Bloomberg Emerging Markets News

Arkansas Best quarterly profit falls

(Reuters) - Wall Street analysts had on average expected earnings per
share for the quarter of 66 cents, according to Reuters
Estimates.




Less-than-truckload operators consolidate smaller loads into
a single truck.


Read more at Reuters.com Market News

German Stocks Decline, Led by Shares of Infineon, Commerzbank, Allianz

(Bloomberg) -- German stocks slipped, paced by
Infineon Technologies AG, Commerzbank AG, Allianz SE and BASF
AG.

The benchmark DAX Index fell 69.30, or 0.9 percent, to
7737.49 as of 9:06 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies was down 0.9 percent.


Read more at Bloomberg Stocks News

Siam Cement's Profit Rises 16 Percent as Stake Sales Offset Higher Costs

(Bloomberg) -- Siam Cement Pcl, Thailand's third-
largest publicly traded company, said second-quarter profit rose
16 percent as one-time gains from stake sales in units offset
higher costs.

Net income rose to 8.82 billion baht ($263 million), or
7.35 baht a share, from a restated 7.63 billion baht, or 6.36
baht a share, a year earlier, the Bangkok-based company said in
a Thai stock exchange filing today. Sales were little changed at
63.6 billion baht in the second quarter, from 63.8 billion baht
a year ago. Cost of sales rose 3.4 percent to 52.1 billion baht
from 50.4 billion, today's financial statements show.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Matsushita Q1 profit up 13.5 pct on softer yen

(Reuters) - Panasonic brand maker Matsushita, the world's largest
consumer electronics manufacturer, enjoyed brisk demand for
digital cameras and air conditioners although JVC, owned 52.4
percent by Matsushita, was hit by slow sales of its LCD TVs in
Japan and Europe.




Consumer electronics maker JVC, whose official name is Victor
Co. of Japan Ltd., said on Tuesday it would issue 35 billion yen
worth of new shares to audio equipment maker Kenwood Corp.
and asset management company Sparx Group in
August, taking itself off Matsushita's consolidated accounts.


Read more at Reuters.com Market News