European Mining Stocks May Rise; Infineon Might Fall, Daimler May Advance

(Bloomberg) -- European basic-resources stocks may
advance as copper prices increased. BHP Billiton Ltd. and Rio
Tinto Group gained in Australian trading.

``Rising commodity prices in Asia will lend some support to
mining stocks,'' said Adam Neal, a trader at CMC Markets in London.


Read more at Bloomberg Stocks News

Chinese Yuan Has Biggest Gain in 10 Months Before Treasury Currency Report

(Bloomberg) -- China's yuan had the biggest gain in
almost 10 months as the U.S. Treasury Department prepares to
release a report that may increase pressure for faster
appreciation.

U.S. lawmakers plan to unveil legislation tomorrow to push
China to loosen controls on the yuan, hours after the Treasury
publishes a semiannual evaluation of exchange-rate manipulation.
Treasury Secretary Henry Paulson failed to win any pledge on the
currency during trade talks in Washington last month.


Read more at Bloomberg Emerging Markets News

Employers in U.S. Likely to Keep Hiring at Same Pace, Manpower Report Says

(Bloomberg) -- Employers in the U.S. plan to
maintain hiring next quarter at the same pace as in the previous
three months, according to a private survey released today.

Manpower Inc., the world's second-largest provider of
temporary workers, said its employment index held at 18 percent
for July through September, the same as in the second quarter.
The gauge subtracts the percentage of employers planning to cut
jobs from those who plan to add workers and adjusts the results
for seasonal variations.


Read more at Bloomberg Currencies News

China's Stocks Decline on Interest Rate Concerns After Inflation Rises

(Bloomberg) -- China's stocks dropped for the first
time in six days after inflation accelerated to a two-year high,
fueling speculation the central bank will raise interest rates to
cool the economy.

China Vanke Co., the nation's largest listed property
developer, and China Merchants Bank fell on concern that future
lending may be curbed.


Read more at Bloomberg Stocks News

Copper Rises on Strike Threats in Chile, Mexico, Global Stockpile Decline

(Bloomberg) -- Copper prices rose in Shanghai as
possible strikes at mines in Chile, the world's largest source
of the metal, and Mexico may disrupt supply at a time when
global stockpiles are declining.

Mining workers have increased salary demands after copper
prices jumped 16 percent this year, boosting profit for
companies including Chile's Codelco, the world's largest copper
producer. Contract workers at Codelco are preparing for a strike
next week, a labor spokesman in Santiago said yesterday.


Read more at Bloomberg Commodities News

Cal Dive says to acquire Horizon for $628 mln

(Reuters) - Based on Cal Dive's closing stock price on June 11, the price equates to a transaction value of about $19.25 per Horizon share, or a premium of about 14 percent to Horizon's closing price, the company said.




It said the deal is expected to close in the third quarter.


Read more at Reuters.com Mergers News

China's Inflation Accelerates to 3.4 Percent, Adds Pressure to Raise Rates

(Bloomberg) -- Inflation in China, the world's
fastest-growing major economy, accelerated in May as pork prices
soared, increasing the likelihood that interest rates will be
raised.

Consumer prices gained 3.4 percent from a year earlier, the
National Bureau of Statistics said today. April's inflation rate
was 3 percent, matching the central bank's 2007 target. The
median estimate of 19 economists surveyed by Bloomberg News was
for a 3.3 percent increase.


Read more at Bloomberg Emerging Markets News

Japan's Stocks Slip, Led by Millea, Insurers; Trading Houses, Toshiba Gain

(Bloomberg) -- Japanese stocks fell, led by
insurance companies, on speculation recent stock price gains
have been excessive given their profit outlook.

Millea Holdings Inc. fell 1.7 percent after soaring 20
percent in the past month. Commodity-related shares climbed
after prices for commodities including copper, gold and oil
rebounded.


Read more at Bloomberg Stocks News

Fidelity's Frontini Dumps Stocks From Aggressive Fund After Becoming Chief

(Bloomberg) -- Mario Frontini just got a lot more
money to invest in equities at Fidelity International Ltd. His
plan is to sell more companies than he buys.

The 38-year-old beat Italy's benchmark stock index every
year since he started in 2004 as head of Fidelity's Italian fund.
He took over the European Aggressive Fund this month, more than
tripling the assets he oversees to about 4 billion euros ($5.4
billion).


Read more at Bloomberg Stocks News

Australian Shares Advance, Led by BHP, Rio Tinto on Higher Metals Prices

(Bloomberg) -- Australia's benchmark stock index,
the S&P/ASX 200 Index, rose 0.42 percent at 10:05 a.m.

The index of 202 companies traded on the Australian Stock
Exchange rose 25.90 to 6,257.60. Among the stocks in the index,
101 rose, 78 fell and 23 were unchanged.


Read more at Bloomberg Stocks News

Boeing defends helicopter, Lockheed protests again

(Reuters) - Sikorsky Aircraft, which last month said the Air Force's
handling of the contract was skewed to favor Boeing, was still
deciding whether to file a protest or take other action. "We're
keeping our options open," spokesman Paul Jackson said.




Boeing's HH-47, based on its popular workhorse CH-47
Chinook, surprised analysts when it won an award for 141 combat
search-and-rescue helicopters in November, beating out smaller
helicopters from Lockheed and United Technologies Corp.
unit Sikorsky.


Read more at Reuters.com Government Filings News

Japan to Set 11-Month High Coupon on 5-Year Government Notes, Survey Shows

(Bloomberg) -- Japan may set a coupon of 1.5 percent
on the 2 trillion yen ($16 billion) of five-year notes it will
sell today, according to a Bloomberg News survey.

Four investors and strategists surveyed yesterday said the
Ministry of Finance would put the coupon at 1.5 percent, the
highest since July 2006. The government has set a 1.2 percent rate
at the past four auctions.


Read more at Bloomberg Bonds News

UPDATE 3-Atticus meeting with third parties about Freeport

(Reuters) - In a filing with the U.S. Securities and Exchange
Commission on Monday, Atticus said it owned a 6.4 percent stake
in Freeport-McMoran and it wanted to encourage third parties to
consider strategic transactions with Freeport-McMoRan to
maximize shareholder value.




Freeport-McMoRan said Atticus became a significant
shareholder when Freeport-McMoran bought mining company Phelps
Dodge Corp. for $25.9 billion.


Read more at Reuters.com Bonds News

Areva in talks to buy UraMin -paper

(Reuters) - UraMin said in February it would carry out a strategic
review of its assets due to recent consolidation in the uranium
sector, which has heated up as uranium spot prices have jumped
to their highest levels in decades.




Areva was not immediately available for comment.


Read more at Reuters.com Mergers News

CME deal to buy CBOT gets antitrust approval

(Reuters) - "While the evidence suggests that competition between CME and CBOT has, at times, provided some incentive for them to develop and offer new products, it does not indicate that continued innovation depends on competition between the parties," the Justice Department said.




The proposed deal had raised antitrust concerns, including a warning by the Futures Industry Association, a trade group representing U.S. futures brokers.


Read more at Reuters.com Business News

Pimco's Gross Sticks With Call for Lower Rates Amid `Schizophrenic' Market

(Bloomberg) -- Bill Gross, manager of the world's
biggest bond fund, is sticking with his forecast for the Federal
Reserve to lower interest rates in a ``schizophrenic'' market.

The central bank will keep its target rate for overnight
loans between banks at 5.25 percent until a housing led slowdown
will drop inflation below 2 percent, Gross said today in an
interview in New York.


Read more at Bloomberg Bonds News

Cotton Futures Rise to One-Year High on Prospect of U.S. Planting Delays

(Bloomberg) -- Cotton rose to a 1-year high in New
York on speculation that planting may be delayed by wet weather
in Texas, the largest U.S. grower, and by a drought in the
country's southeast.

Texas farmers had planted 72 percent of their crop as of
June 3, compared with 84 percent a year earlier, the U.S.
Department of Agriculture said in a report last week. Georgia
growers planted 74 percent by June 3, compared with 93 percent
last year, according to the report. The USDA is scheduled to
release its latest progress report today at 4 p.m. in Washington.


Read more at Bloomberg Commodities News

FACTBOX-Blackstone CEO pay as compared to others

(Reuters) - The chart below, provided by compensation research firm
Equilar Inc., shows where Schwarzman's stake ranks compared to
the holdings of other executives in their companies.
Company Executive Mkt Value of Shares Held
Berkshire Hathaway Warren Buffett $38.23 billion
Microsoft Bill Gates $29.59 bln
Google Larry Page $13.35 bln
Google Sergey Brin $13.11 bln
Microsoft Steve Ballmer $12.61 bln
Blackstone S. Schwarzman* $7.73 bln
News Corp. Rupert Murdoch $7.70 bln
IAC/Interactive Barry Diller $5.21 bln
Source: Equilar, Inc.




*Value based on amended S-1 filing


Read more at Reuters.com Mergers News

Landmark Texan brewery turns into solar lab

(Reuters) - The $1.35 million project will allow city-owned utility CPS Energy "to test the viability of a solar energy application in a large, real-world commercial application," according to a statement by CPS and Silver Ventures.




CPS Energy hopes to have 15 percent of all its customers' peak power demand met with renewable sources by 2020. Milton Lee, general manager of CPS, says renewables make 11 percent of the power delivered now to its more than 600,000 customers.


Read more at Reuters.com Bonds News

Emerging Market Bonds Little Changed, Pushing Down Spreads Over Treasuries

(Bloomberg) -- Emerging market bonds were little
changed, pushing down yield spreads over U.S. Treasuries, as
investors remained optimistic about developing nations' growth
prospects.

The average yield spread on emerging-market dollar bonds
over Treasuries fell 2 basis points, or 0.02 percentage point, to
1.57 percentage points, according to JPMorgan Chase & Co.'s EMBI+
index. The bonds fell 0.1 percent on average. They dropped less
than Treasuries, which added to five weeks of losses after
Federal Reserve Bank of Cleveland President said inflation is
``uncomfortably high.''


Read more at Bloomberg Bonds News

H&R Block, Radio Shack, Taser, Valeant Pharmaceuticals: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 1:10 p.m. New York time.

Back Yard Burgers Inc. (BYBI US) rose $1.16, or 23 percent,
to $6.21. The chain of fast-food restaurants concentrated in the
southeast U.S. agreed to be acquired for about $6.50 a share, or
$33.3 million, by a group of investors including Cherokee
Advisors LLC.


Read more at Bloomberg Stocks News

Netflix shares fall after JP Morgan downgrade

(Reuters) - Crockett downgraded Netflix to "underweight" from "neutral," saying the company, which pioneered online DVD rental and dominates the space with more than 6.8 million subscribers, faces competition from Blockbuster that is "much tougher than we had originally expected."




In April, Netflix lowered its revenue and subscriber growth forecasts for the year as Blockbuster's Total Access plan, rolled out late last year, cut into its subscriber growth.


Read more at Reuters.com Hot Stocks News

Brookfield to buy Multiplex for A$7.3 bln

(Reuters) - Toronto-based Brookfield has entered agreements with
Roberts Family Nominees Ltd., which hold 25.6 percent of
Multiplex shares.




The per stapled security price, including a June
distribution, represents a 39.2 percent premium to the
six-month volume weighted average price for Multiplex shares
prior to the announcement of talks with Brookfield and Roberts
Family on January 25, Brookfield said.


Read more at Reuters.com Mergers News

Brazil's Lula troubled by corruption again

(Reuters) - In the latest saga, police are investigating Lula's brother
as well as the father of his godchild over their supposed
involvement in an illegal gambling scheme.




Senate leader Renan Calheiros, one of the main allies in
Lula's 11-party coalition, is under investigation from police
and a congressional committee for allegedly taking cash
payments from a construction firm in exchange for favors.


Read more at Reuters.com Bonds News

Corn, Soybeans Rally in Chicago as Hot, Dry Weather Threatens U.S. Crops

(Bloomberg) -- Corn futures in Chicago jumped to a
one-month high and soybeans rose, extending a rally to three-year
highs, on speculation that dry weather will reduce crop yields in
the U.S. Midwest.

Unusually low humidity and high barometric pressure will
prevent significant rains from reaching dry fields east of the
Mississippi River, increasing stress on the two biggest U.S.
crops, said Mike Tannura, a meteorologist for T-Storm Weather in
Champaign, Illinois. Intense heat may develop after June 23,
damaging plants as they begin reproducing, he said.


Read more at Bloomberg Commodities News

Matsushita says no decision on sale of JVC stake

(Reuters) - The company reported third-quarter total revenue of $347.7 million, up 19 percent from the year-ago period, on strong performance in several U.S. regions and growth in China.






Read more at Reuters.com Mergers News

French CAC Benchmark Gains, Led by AXA, BNP; Vallourec Shares Advance

(Bloomberg) -- French stocks rose. Axa SA and BNP
Paribas SA paced an increase in the shares of financial
companies.

Vallourec SA gained on takeover speculation while Suez SA
increased after Credit Suisse Group raised its share-price
estimate.


Read more at Bloomberg Stocks News

S.Africa government bonds trend lower, market still nervous

(Reuters) - South African government bonds weakened in midday Johannesburg trade on Monday, continuing a downward trend of the past two weeks and dealers said investors were still nervous towards emerging markets.

Yields on the short-dated 2010 bond went up seven basis points to 8.82 percent at 1130 GMT, while those on the benchmark 2015 issue were up 8.5 basis points to 8.22 percent.


Read more at Reuters Africa

Asbury acquires Nissan and Infiniti dealerships in Atlanta

(Reuters) - The dealerships currently generate revenue of about $100
million annually, the company said in a statement. The terms of
the transaction were not disclosed.





Read more at Reuters.com Mergers News

Mvela Resources says in talks, shares jump

(Reuters) - South African black-owned mining group Mvelaphanda Resources Ltd said on Monday it was in talks that may affect its shares, sending its stock surging.

The firm's shares jumped 4.5 percent to a fresh record of 65.98 rand by 1325 GMT, compared to a 0.9 percent rise in the mining index. The shares have soared 69 percent so far this year.


Read more at Reuters Africa

UPDATE 1-Onex joins KKR group in bid for Canada telecom BCE

(Reuters) - Canada Pension Plan Investment board , which leads the
group, said Onex is joining with the consent of BCE's strategic
oversight committee of independent directors.




Three consortia are mulling bids or other strategies for
BCE, which is Canada's biggest telecommunications group. BCE,
owner of Bell Canada, is reviewing its options to boost value
for shareholders, but it has not officially begun a full
auction of the company.


Read more at Reuters.com Mergers News

Grand Petroleum, Lundin, Peru Copper, Talisman, TSX: Canada Equity Preview

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

The Standard & Poor's/TSX Composite Index gained 94.62, or 0.7
percent, to 13,798.50 in Toronto, on June 8. The benchmark dropped
2.3 percent in five days for its biggest weekly loss since March 2.


Read more at Bloomberg Stocks News

US STOCKS-Modest open seen on deals, Apple inches up

(Reuters) - NEW YORK, June 11 - U.S. stock futures pointed to
a flat to modestly higher open on Monday, with support seen
from another burst of deal news including the takeover of
Owens-Illinois Inc.'s plastics packaging unit.




Upside momentum could be limited by higher oil prices and
lingering worries about possible increases in interest rates,
with most of the U.S. treasury yield curve above 5 percent.


Read more at Reuters.com Bonds News

Corrected: Bonds recover but rate worries linger

(Reuters) - NEW YORK - U.S. Treasury debt prices rose on Friday on bargain-hunting and short-covering after benchmark yields briefly advanced to just below five-year highs amid worries about tightening credit conditions globally.




The market's mild recovery followed a plunge on Thursday, but analysts and traders said a cross-section of players including fund managers, central banks and mortgage companies continued to liquidate long positions and rebalance their books.


Read more at Reuters.com Hot Stocks News

U.S. stocks suggest modest Wall St open on M&A

(Reuters) - Lingering worries about possible increases in interest rates, however, with most of the U.S. treasury yield curve above 5 percent, could limit upside momentum, analysts said.




Owens-Illinois Inc. said on Monday it will sell its plastics packaging business to Britain's Rexam Plc , the world's biggest can maker, for about $1.83 billion. For details see .


Read more at Reuters.com Bonds News

REFILE-UK's FSA to scrutinise banks' exposure to LBOs

(Reuters) - LONDON, June 11 - The UK's Financial Services
Authority plans to beef up oversight of private equity by asking
banks twice a year about their exposure to leveraged buyouts and
enhancing regulatory requirements for firms to report
information about committed capital.




The FSA, which issued a discussion paper last November, said
on Monday the feedback it has received indicates supervision of
private equity is "broadly appropriate".


Read more at Reuters.com Government Filings News

ESPN buys Cricinfo Web site from Wisden Group

(Reuters) - "Growing our business in the online world is vital," said Russell Wolff, managing director of ESPN International.




"Cricinfo will be a strong addition to ESPN," he said in the statement.


Read more at Reuters.com Mergers News

AirTran extends Midwest offer to Aug. 10

(Reuters) - AirTran, parent of low-cost airline AirTran Airways, in
April increased its hostile offer for Midwest to $15 per Midwest
share from an original $11.25.




Shares in Midwest, which has argued that the offer is
inadequate, closed up 8 cents at $15.05 on Friday.


Read more at Reuters.com Mergers News

UPDATE 1-Japan watchdog cautions MUFG on investment trusts

(Reuters) - Japan's biggest banking group has faced other disciplinary
measures from the financial watchdog this year, one related to
some securities trading at its brokerage unit, and another for
lending to people with criminal connections.




The FSA this time issued two separate orders, and told Bank
of Tokyo-Mitsubishi UFJ to report on how it plans to improve its
operations by July 11.


Read more at Reuters.com Government Filings News

Drug maker Aspen names new chairwoman

(Reuters) - Africa's biggest generic drug maker, Aspen, on Monday said Judy Dlamini would replace Archie Aaron as the new chairperson after the firm's November annual general meeting.

Aaron was appointed as chairman in 1999 and would remain as a non-executive director of the firm. Dlamini, a medical doctor, was appointed to the Aspen board in 2005, following black investment firm Imithi's investment in the drug manufacturer.


Read more at Reuters Africa

Treasury Bulls Routed as Dealers See Rising Yields, No Interest-Rate Cut

(Bloomberg) -- The biggest rout in the Treasury
bond market in three years is making Wall Street's bond bulls
more bearish.

Investors are ``throwing in the towel,'' said Robert
Auwaerter, who oversees about $350 billion as head of fixed-
income investments at Vanguard Group in Malvern, Pennsylvania.


Read more at Bloomberg Currencies News

FTSE 100 Stocks Climb, Paced by Centrica; Scottish & Southern Shares Rise

(Bloomberg) -- U.K. stocks rallied, led by
Centrica Plc after OAO Gazprom said it expects to announce a
British acquisition. Barclays Plc climbed.

Rio Tinto Group led mining companies higher after UBS AG
said mergers and acquisitions in the industry will likely
accelerate. Shares of BAE Systems Plc rose.


Read more at Bloomberg Stocks News

JGB futures fall to 11-month low on BOJ rate concern

(Reuters) - A fall in U.S. Treasuries in Asian trade after a rebound on
Friday also depressed sentiment, prompting JGBs to give up
earlier gains.




JGBs had been sold for the last three weeks on a rapid rise
in overseas yields triggered by expectations for solid global
growth and tighter monetary policies to ward off price pressure,
compounding concerns of a Bank of Japan interest rate hike as
soon as August.


Read more at Reuters.com Bonds News

China's Bonds Rise as Producer-Price Inflation Slows; Yuan Falls Third Day

(Bloomberg) -- China's government bonds rose as a
report showed slower-than-expected producer-price inflation,
damping speculation of further interest rate increases by the
central bank. The yuan fell.

The gain in price was not enough to move the yield on
benchmark three-year bonds from near an August 2005 high of 3.26
percent. Investors sold the securities last week on concern the
central bank would raise borrowing costs to cool economic growth
and a record stock market. Producer prices climbed 2.8 percent,
lagging behind the 3 percent forecast in a Bloomberg News survey.


Read more at Bloomberg Bonds News

U.S. Treasuries Fall as More Investors Rule Out Federal Reserve Rate Cuts

(Bloomberg) -- U.S. Treasuries fell, extending five
weeks of losses, as more investors said the Federal Reserve is
unlikely to cut interest rates this year.

The 10-year yield climbed 3 basis points to 5.13 percent
after Pacific Investment Management Co., manager of the biggest
debt fund, dropped bets on a 2007 rate cut. Charts used by
traders signal the yield may trade between 5.04 percent and 5.25
percent, after rising above 5 percent last week, said Indrajit
Advani, a senior director at Royal Bank of Scotland Plc.


Read more at Bloomberg Bonds News

JVC shares dive on Kenwood talks with Matsushita

(Reuters) - Shares of JVC, the loss-making electronics maker whose official name is Victor Co. of Japan Ltd., fell as much as 14 percent to 426 yen as the likely deal would involve it issuing new shares to Kenwood, diluting the value of existing JVC stock.




Talks with Texas Pacific fell apart after the private equity firm said it wanted JVC to sell off its music production business, and asked Matsushita to continue investing in JVC to bolster JVC's credit, sources close to the deal told Reuters.


Read more at Reuters.com Business News

Soybeans Rise to Near Three-Year High on Dry Weather; Wheat, Corn Advance

(Bloomberg) -- Soybean futures in Chicago rose
close to a three-year high, and corn gained to its highest in a
month amid speculation that drier weather over the weekend may
damage yields. Wheat futures climbed to a seven-month high.

Rainfall in the U.S. Midwest was less than expected on June
9 and yesterday, Kenji Kobayashi, an analyst at Kanetsu Asset
Management, said today. There was also concern that the
government's weekly crop-conditions report, due later today, may
show lower ratings for corn and soybeans, he said.


Read more at Bloomberg Commodities News