Ingersoll to sell units for $4.9 bln to Doosan

(Reuters) - Doosan's shares jumped as much as 11 percent on the move, which the company said would nearly double its sales and make it the world's seventh largest construction equipment maker.




For Ingersoll, the deal will cut the diversified manufacturer's exposure to the highly cyclical division which has been hit by a downturn in U.S. home construction and help its shift toward climate control, industrial and security businesses.


Read more at Reuters.com Bonds News

Barclays says will continue with ABN offer

(Reuters) - A recommendation from ABN had been a pre-condition of
Barclays' offer, but the British bank said in a statement it had
waived the precondition and instead made it a condition to the
completion of an offer.




Read more at Reuters.com Mergers News

Malaysia's Naim Cendera Plans $144 Million Debt Sale to Help Fund Projects

(Bloomberg) -- Malaysia's government expects to
generate 177 billion ringgit ($51 billion) of investments
including manufacturing, agriculture and tourism projects in the
northern states till 2025 to spur economic growth.

It's a ``government initiative to drive economic growth and
raise income levels in the north of peninsular Malaysia,'' the
government said in a statement today. The state will spend one-
third of the investment, it said.


Read more at Bloomberg Emerging Markets News

Yen rises, risk aversion overshadows Japan election

(Reuters) - But the yen gave up some gains as overall losses in Asian equities turned out to be limited, and as Japanese investors and other market players seized on the rise as an opportunity to sell the low-yielding yen for higher-yielding currencies.




"A lot of people are wanting to sell on any rallies," said Luke Waddington, head of forex trading at Royal Bank of Scotland in Tokyo.


Read more at Reuters.com Hot Stocks News

America Movil, Cosan, Femsa and Randon May be Active: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile and Mexico today.
Symbols are in parentheses after the company name, and stock
prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Doosan to buy Ingersoll units for $4.9 billion

(Reuters) - Ingersoll signed a definitive agreement to sell Bobcat, the
world's top compact construction equipment firm, and its
utility equipment and attachment businesses, which in 2006
together generated $2.6 billion in sales and $370 million in
operating profits.




"The sale of Bobcat, Utility Equipment and Attachments
represents the last major auction to transform our business
portfolio to reposition Ingersoll Rand as a diversified
industrial company," CEO Herbert Henkel said in a statement.


Read more at Reuters.com Business News

Japan Shares Fall on U.S. Subprime Concern, Ruling Party's Election Defeat

(Bloomberg) -- Japanese stocks dropped after U.S.
residential investment slumped, raising concern the world's
largest economy will slow and Japan's ruling party lost control
of the upper house of parliament in an election.

Sony Corp. slid by the most since June 8 and Nintendo Co.
extended its two-day loss to 8.7 percent, leading exporters
lower after the yen advanced to the highest against the dollar
in more than three months, reducing the value of their overseas
sales.


Read more at Bloomberg Stocks News

China's 2007 Steel Production May Rise by 14 Percent, Industry Guild Says

(Bloomberg) -- China, producer of one third of the
world's steel, may increase output of the metal by 14 percent
this year, the China Iron and Steel Association said.

Production may reach 480 million tons this year, the
association said in a statement in Beijing. That compares with
its previous forecast of 475 million tons.


Read more at Bloomberg Emerging Markets News

South Korea's Stocks Slide on U.S. Housing Concern; Kookmin Bank Drops

(Bloomberg) -- South Korean stocks fell for the
third day. Kookmin Bank led declines on concern a deepening U.S.
housing slump will slow the world's biggest economy and prompt
investors to shun equities for safer assets.

``The housing-market problems may have a bigger-than-
expected damping effect on the U.S. economy,'' said Kim Han Jin,
vice president of Fides Investment Management in Seoul, which
manages $1 billion in equities. ``That could continue if consumer
spending fails to offset those negatives,'' while ``people want
to cut their holdings of riskier assets in emerging markets,'' he
said.


Read more at Bloomberg Stocks News

Ten-Year Treasury Yields Near 10-Week Low as Asia Stocks Follow U.S. Lower

(Bloomberg) -- Treasuries were little changed, with
10-year note yields near a 10-week low, as Asian stock markets
slumped because investors are shunning riskier assets.

The securities look set to add to last week's biggest gain
since the period ended Sept. 22 on concern a U.S. housing market
slowdown and defaults on subprime mortgages will weigh on the
broader economy. Japan's equity markets led the region lower,
with the Nikkei 225 Stock Average declining more than 1 percent.


Read more at Bloomberg Bonds News

Stock Bulls Grow More Bullish as Global Equity Markets Lose $2.1 Trillion

(Bloomberg) -- The biggest losses in stock and
credit markets in five years are making the U.S. stock bulls
more bullish.

The Dow Jones Industrial Average posted its steepest gain
since 2003 on July 12, two days after tumbling on Standard &
Poor's plan to cut credit ratings for bonds backed by subprime
mortgages. The benchmark for America's biggest companies climbed
to a record the next week, following a decline sparked by losses
in Bear Stearns Cos. hedge funds. Some of the world's largest
investors say the S&P 500's biggest slump since September 2002
last week now offers them even more opportunities to profit.


Read more at Bloomberg Stocks News

Australia's Dollar Declines as Investors Shun Higher-Yielding Securities

(Bloomberg) -- The Australian dollar fell to the
weakest in a month against the U.S. currency and a two-month low
versus the yen as a slide in stocks eroded investor confidence to
buy higher-yielding assets with loans from Japan.

The currency fell for a third day as a 4.2 percent loss in
the Dow Jones Industrial Average last week led a worldwide slump
in shares. The local dollar this month reached an 18-year high
against its U.S. counterpart and the strongest in 16 years versus
the yen as rising equities encouraged investors to put on so-
called carry trades, in which they take advantage of Australia's
higher interest rates with borrowed money from Japan.


Read more at Bloomberg Currencies News

Venezuela `Oil Socialism' Boosts Government Income by $5.8 Billion a Year

(Bloomberg) -- Venezuela's bid to nationalize its
energy industry has boosted government income by $5.8 billion a
year, fueling a new form of ``oil socialism,'' President Hugo
Chavez said.

The extra $5.8 billion, equal to 11 percent of Venezuela's
official 2007 budget, came through tax and royalty increases
phased in since 2004. The seizure on May 1 of four foreign oil
joint ventures in the country's eastern Orinoco Belt will provide
additional funds, he said.


Read more at Bloomberg Energy News

WEEKEAHEAD-Emerging debt to remain volatile after selloff

(Reuters) - Despite the massive sell-off that left bonds with losses of
more than 1 percent for the year-to-date, dedicated emerging
market investors have not yet capitulated, but are possibly
waiting for an opportunity to buy on dips, fund managers and
analysts said.




"Although real-money accounts are obviously also feeling
the pain, they still believe that at some point this will be an
opportunity to add ," JP Morgan's analysts wrote in a
research note.


Read more at Reuters.com Bonds News

RPT-Wall St Week Ahead: Data, earnings loom after painful week

(Reuters) - NEW YORK, July 29 - Getting back on the bull will
be no easy task this week, particularly after the meltdown
stock investors endured over the past two days.




The Standard & Poor's 500 and Dow Jones industrial average
ended trading on Friday at the week's lowest levels, marking
the worst one-week percentage drop for the S&P 500 in nearly
five years and the gloomiest on the Dow in five months.


Read more at Reuters.com Bonds News

New Zealand Dollar is Overvalued and Will Fall, Agricultural Minister Says

(Bloomberg) -- The New Zealand dollar, the best
performer of 16 major currencies against the dollar in the past
year, is over-valued and will eventually decline, Agriculture
Minister Jim Anderton said today.

``There is no question it is overvalued,'' Anderton said in
e-mailed notes for a speech in Christchurch. ``A lot of the hot
money coming in here thinking it won't decline, will eventually
get burned because the dollar will, sooner or later, return to
more normal levels.''


Read more at Bloomberg Currencies News