Citigroup offers total Y145 bln global bonds

(Reuters) - Citigroup is expected to use proceeds from the Samurai and
global bond issuance to pay back debt for its $7.7 billion buyout
of Japanese brokerage Nikko Cordial Corp. . The
acquisition is meant to help the U.S. bank expand in Japan,
especially in investment banking.




The global yen bonds consist of 50 billion yen in 20-year
bonds, 55 billion yen in 30-year bonds, and 40 billion yen in
40-year bonds, Nikko Citigroup said.


Read more at Reuters.com Bonds News

Lucia says sells 3 Club Med villages to GE unit

(Reuters) - U.S. property fund Colony Capital recently sold a controlling 62 percent
stake in Lucia to EuroCDP Finances SA, a unit of SITQ, which is itself part of
Canada's Caisse de Depot et Placement du Quebec.




SITQ is due to make an offer to buy out Lucia minority shareholders at the
same price it paid, namely 70 euros a share.


Read more at Reuters.com Mergers News

Bancrofts reject lawyers' WSJ safeguard plan: report

(Reuters) - The rejected proposal would have created a committee with the power to hire and fire the paper's top editors and some control over newsroom budgets.




It also would have put a two-year moratorium on cuts in Dow Jones news staff and would have protected the jobs of current top editors and the publisher at the Journal.


Read more at Reuters.com Business News

Platinum Climbs in Tokyo as South Africa Strike Looms, Threatening Supply

(Bloomberg) -- Platinum futures in Tokyo gained for
a fourth day in five as a stronger dollar boosted the appeal of
yen-denominated contracts and on rising concern wage negotiations
at South African mines will lead to supply disruptions.

South Africa's National Union of Mineworkers declared a
dispute with Impala Platinum Holdings Ltd., the world's second-
biggest producer, after the company offered no pay increase at
talks on June 13. The dollar yesterday climbed to as much as
123.12 yen, its strongest since 2002.


Read more at Bloomberg Commodities News

Bernanke, Trichet Get Helping Hand on Inflation From Surging Bond Yields

(Bloomberg) -- The six-week global bond market-rout
may be doing Ben S. Bernanke and Jean-Claude Trichet a favor.

The higher market rates, if they continue, mean pricier
loans for homes and credit cards, and will make it more
expensive for companies to invest and make acquisitions.


Read more at Bloomberg Bonds News

Stocks extend rally on U.S. data, oil spike

(Reuters) - The dollar hovered just under a 4-1/2-year high against the yen, with investors waiting for a rate decision by the Bank of Japan on Friday. It was expected to leave rates unchanged at 0.5 percent.




The U.S. Treasury market continued to show signs of stabilizing, helping equities extend their gains, while Japanese government bond futures tiptoed higher. .


Read more at Reuters.com Hot Stocks News

China Cosco Says It May Raise $1.98 Billion by Selling Shares in Shanghai

(Bloomberg) -- China Cosco Holdings Co., operator of
Asia's largest container line, may raise as much as 15.1 billion
yuan ($1.98 billion) in one of the biggest share sales in China
this year to buy new ships.

The company, based in Tianjin, will sell 1.78 billion shares
in Shanghai at 7.60 yuan to 8.48 yuan each starting today, it
said in a statement to the city's stock exchange. The sale will
probably be the fourth biggest of those approved in China so far
this year, according to data compiled by Bloomberg.


Read more at Bloomberg Emerging Markets News

Malaysian Ringgit Advances, Heading for Biggest Weekly Gain in Two Months

(Bloomberg) -- The Malaysian ringgit rose, adding to
its best weekly advance in almost two months.

The local currency traded at 3.463 against the dollar as of
9:27 a.m. in Kuala Lumpur, according to data compiled by Bloomberg.
It has gained 0.5 percent for the week, the most since April 20.


Read more at Bloomberg Currencies News

Dollar supported, traders await Fukui, U.S. data

(Reuters) - The dollar jumped above the psychologically important 122.20 yen level this week as investors abandoned the possibility of a Federal Reserve rate cut this year, prompting a Treasury sell-off that drove the benchmark 10-year yield to its highest since 2002.




"The dollar has cleared a key hurdle against the yen, which is attracting more buying," said Nobuo Ibaraki, a forex manager at Nomura Trust and Banking.


Read more at Reuters.com Hot Stocks News

Australian Dollar Headed for Weekly Fall as Traders Trim Bets on Rate Rise

(Bloomberg) -- The Australian dollar was poised for
a weekly decline as traders pared bets the central bank will
increase the interest rate any time soon.

The currency extended its slide from an 18-year high
touched last week after Reserve Bank of Australia Governor Glenn
Stevens yesterday said he has ``time'' to respond to faster
economic growth and inflation. Traders this week almost halved
the odds of a quarter-point rate increase by August, according
to cash rate futures.


Read more at Bloomberg Currencies News

Utah, Colorado approve Eschelon acquisition

(Reuters) - In March, Eschelon said that it had agreed to be acquired
by Integra Telecom for about $566 million in cash.





Read more at Reuters.com Mergers News

UPDATE 3-Liberty Media, EchoStar to bid for Intelsat--report

(Reuters) - NEW YORK, June 14 - Liberty Media and EchoStar
Communications Corp.'s reported interest in Intelsat Ltd.
points to a renaissance in the commercial satellite market that
is spurred by demand for high-definition television and faster
Internet services, analysts said on Thursday.




Liberty Media Holding Corp. and EchoStar
are preparing a joint offer for Intelsat, the world's largest
commercial satellite operator, which is accepting final bids on
Thursday, according to the Wall Street Journal.


Read more at Reuters.com Bonds News

UPDATE 1-Cleveland-Cliffs to buy metallurgical coal producer

(Reuters) - The producer of iron ore pellets for steelmaking said the
payment of 25 percent of the cash portion will be deferred
until Dec. 31, 2009. The deal is expected to close within 60
days.




The Cleveland-based company said the deal will have minimal
earnings impact in 2007 and will add about $300 million to
full-year revenue.


Read more at Reuters.com Bonds News

Argentina bonds recover as prices attract, stocks up

(Reuters) - "For several days sales were notorious and now
there are tempting price levels that you can't ignore," said a
over-the-counter trader from a local bank, who asked not to be
named.




In the last two weeks, some Argentine bonds lost up to 8
percent on worries that interest rates will rise in the United
States, making emerging market debt less attractive to
investors.


Read more at Reuters.com Bonds News

Clearwire in wireless pact with DirecTV, EchoStar

(Reuters) - Clearwire shares jumped 23 percent, also helped by a report in The Wall Street Journal that Sprint Nextel Corp., the No. 3 U.S. wireless service provider, is looking to create a wireless broadband partnership with Clearwire, among others.




Analysts noted Clearwire will offer slower Internet access speeds, and not likely be competitive with cable broadband.


Read more at Reuters.com Hot Stocks News

US STOCKS-Oil sector, moderate inflation boost indexes

(Reuters) - Exxon's stock led the major advancers in the S&P 500 as
crude rose on gasoline supply concerns.




A day after the biggest gain in the Dow industrials in
almost a year, stocks drew support from a government report
that showed a modest rise in the May Producer Price Index
excluding food and energy costs.


Read more at Reuters.com Bonds News

Goldman risk-taking rises, but slows in commodities

(Reuters) - Average daily value at risk after diversification effects
in the three months ending May 25 was $133 million, up from
$127 million in the three months ended Feb. 23 and $112 million
a year ago, according to the earnings statement.




Much of the increase was in interest rates, stock prices
and currency rates, with value at risk in commodities prices
getting clipped, according to the statement.


Read more at Reuters.com Market News

U.S. gives companies cash to fix up vaccine plants

(Reuters) - WASHINGTON, June 14 - The U.S. government has given two vaccine makers, MedImmune Inc. and Sanofi-Aventis , $132.5 million to fix up facilities in the United States so that production can quickly switch to making a pandemic influenza vaccine.



Sanofi said on Thursday it had been awarded $77.4 million to redesign a plant in Pennsylvania and the Health and Human Services Department said it had given $55 million to MedImmune to retrofit its facilities in several states.


Read more at Reuters.com Government Filings News

US STOCKS-Oil sector's gains, moderate core PPI lift indexes

(Reuters) - NEW YORK, June 14 - U.S. stocks advanced on
Thursday as a gain of more than $1 a barrel in oil prices
boosted shares of energy companies, including Exxon Mobil
Corp. , offsetting disappointment over a profit report
from Goldman Sachs .




Exxon's stock led the major advancers in both the Dow and
the S&P 500 as U.S. crude for July delivery rose 2.2
percent to $67.70 a barrel on fresh supply concerns.


Read more at Reuters.com Bonds News

Cotton Rises to 1-Year High on Jump in U.S. Export Shipments, China Demand

(Bloomberg) -- Cotton rose to a one-year high in
New York, extending this month's rally, as a surge in U.S.
shipments eased concern that domestic production was rising
faster than demand.

U.S. merchants shipped 451,630 bales for the week ended
June 7, up 11 percent from the previous week and the most since
July last year, the U.S. Department of Agriculture said today.
The USDA, which has lowered its export forecast every month
since November, said June 11 that shipments will reach 13
million bales in the marketing year that ends July 31.


Read more at Bloomberg Commodities News

Top court allows lawsuits on U.N. property taxes

(Reuters) - The case involved the city's efforts to collect $16.4 million in unpaid property taxes and interest from India and $2.1 million from Mongolia for their missions at the United Nations.




Under New York law, foreign governments have tax exemptions for the diplomatic mission section of their properties used exclusively for diplomatic offices and for the quarters of certain diplomats.


Read more at Reuters.com Bonds News

Treasuries Little Changed With Yields Near a Five-Year High on Inflation

(Bloomberg) -- Treasuries were little changed, with
yields close to a five-year high, as a report on producer prices
signaled that inflation rose at a faster pace last month.

Yields on 10-year U.S. notes are set to rise for a sixth
straight week amid growing concern among investors that
inflation won't moderate. Faster inflation erodes the value of
Treasuries' fixed payments and may fuel speculation the Federal
Reserve will lift interest rates later this year.


Read more at Bloomberg Bonds News

Sanofi obesity-drug setback clouds future of rivals

(Reuters) - The Food and Drug Administration advisory panel on
Wednesday unanimously recommended Zimulti not be approved
because of concerns it may increase suicidal thinking and
depression. The FDA is expected to make a final decision by
July 26.




"The bar for approval in the area of obesity has been
raised," Bank of America analyst William Ho said of the ruling
in a research note.


Read more at Reuters.com Government Filings News

Chicago Mercantile Exchange Sweetens Bid for Board of Trade With Dividend

(Bloomberg) -- The Chicago Mercantile Exchange
sweetened its $10.2 billion bid for the Chicago Board of Trade to
fend off a higher offer from Intercontinental Exchange Inc.

The Chicago Merc added a dividend of $485 million, or $9.14
a share, and a payment for CBOT members who hold disputed
ownership rights in the Chicago Board Options Exchange, the
company said in a statement. The revision didn't change the
amount of stock offered for each CBOT share. Atlanta-based
Intercontinental is offering $11.1 billion in stock and cash.


Read more at Bloomberg Energy News

Yen Falls to Lowest Versus Dollar Since 2002 on Treasury Yield Advantage

(Bloomberg) -- The yen fell to the lowest against
the dollar in more than four years on the extra yield investors
earn on Treasuries over Japanese debt.

Japan's currency weakened against all but three of its 16
most active counterparts as traders speculated the Bank of Japan
will keep its benchmark rate at 0.5 percent tomorrow, the lowest
among major economies. A U.S. government report showed producer
prices rose last month more than economists forecast.


Read more at Bloomberg Currencies News

Midwest shareholders elect AirTran board nominees

(Reuters) - Midwest said it will allow AirTran, which is attempting a hostile takeover of its rival carrier, to make a presentation to its board about its offer.



The three new members of Midwest's nine-member board are expected to champion a merger that AirTran has pursued for months despite steadfast opposition from Midwest management.


Read more at Reuters.com Bonds News

Oil Rises as U.S. Refiners Trim Operating Rates, Iranian Concerns Heighten

(Bloomberg) -- Crude oil rose above $67 a barrel in
New York and gasoline jumped after a government report showed
that U.S. refineries unexpectedly cut operating rates and Iran
said it isn't willing to suspend its nuclear program.

Refineries operated at 89.2 percent of capacity last week,
the lowest since May 4 and the lowest utilization rate in 15
years for the second week in June, an Energy Department report
showed yesterday. Iran, the Middle East's second-largest producer
of crude oil, said its nuclear research is advancing. The U.S.
and its allies accuse Iran of developing nuclear weapons.


Read more at Bloomberg Commodities News

UPDATE 1-Rate of U.S. home foreclosures hits record in 1st qtr

(Reuters) - The delinquency rate for mortgage loans on one- to
four-unit residential properties stood at 4.84 percent of all
loans outstanding in the first quarter on a seasonally adjusted
basis, down 11 basis points from the fourth quarter and up 43
basis points from a year ago, according to the MBA's National
Delinquency Survey.




The delinquency rate does not include loans in the process
of foreclosure. The percentage of loans in the foreclosure
process was 1.28 percent of all loans outstanding at the end of
the first quarter, an increase of nine basis points from the
fourth quarter of 2006 and 30 basis points from one year ago.


Read more at Reuters.com Bonds News

Brazil's Central Bank Expects `Benign' Inflation as Import Costs Decline

(Bloomberg) -- Brazil's central bank said lower
import costs and higher investments by companies will help
contain inflation, signaling policy makers won't slow the pace
of rate cuts this year.

The central bank lowered the benchmark lending rate by half
a percentage point on June 6, the biggest reduction this year,
to 12 percent. Policy makers voted five to two for the move,
with the dissenters backing a quarter percentage point cut.


Read more at Bloomberg Emerging Markets News

Goldman Sachs quarterly profit rises

(Reuters) - Analysts on average expected profit of $4.76 a share, according to Reuters Estimates. Goldman shares were down 2.8 percent in premarket trading.




Revenue fell to $10.18 billion from $10.24 billion. The analysts' average estimate was $10.1 billion.


Read more at Reuters.com Business News

M.Stanley placing around 6 mln Anglo shares - traders

(Reuters) - Morgan Stanley is placing around six million shares in miner Anglo American at 3,010 pence to 3,025 pence, traders said on Thursday.

Morgan Stanley was not immediately available for comment.


Read more at Reuters Africa

Sunrise Senior Living should be sold-hedge fund

(Reuters) - By Jonathan Stempel



NEW YORK, June 14 - A hedge fund has called for the sale of Sunrise Senior Living Inc. , citing problems with management and accounting at the large U.S. owner of assisted living and nursing homes.


Read more at Reuters.com Bonds News

UPDATE 1-Freddie Mac sells $3 bln 5-yr reference notes

(Reuters) - The 5.50 percent notes were priced at 99.898 to yield 5.519
percent, or 36.5 basis points over U.S. Treasuries.




The other joint lead managers on the sale were Barclays
Capital and RBS Greenwich Capital.


Read more at Reuters.com Bonds News

Mindray says gets marketing approval for 2 devices

(Reuters) -



) Keywords: MINDRAY APPROVAL/


Read more at Reuters.com Government Filings News

Bear Stearns quarterly net drops by a third

(Reuters) - Net income was $361.7 million, or $2.52 a share, for the fiscal second quarter ended May 31, compared with $539.3 million, or $3.72 a share, a year earlier.




Excluding a non-cash charge of $227 million, or 88 cents a share, related to the write-down of intangible assets linked to its Bear Wagner Specialists unit, earnings were $3.40 a share. On that basis, analysts on average had forecast $3.49 a share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-Investcorp to pay $1.1 bln for Danish roofing firm

(Reuters) - Icopal, which installs metal roofs and makes waterproofing
membranes, takes the value of the investment bank's acquisitions
in the financial year ending June 30 to $2.8 billion, Investcorp
said in a statement.




Investcorp, which manages $10 billion in assets, raises cash
in the Gulf, the world's biggest oil exporting region, for
investment in the West, although in April banking sources said
it was starting a $1 billion fund for Western investors.


Read more at Reuters.com Mergers News

CME plans to sweeten offer for CBOT: WSJ

(Reuters) - CBOT's board will meet this morning to consider the proposal and is expected to reaffirm its preference for the CME purchase over ICE's counteroffer, said the report.




CME, the largest U.S. futures exchange, has been engaged in a bidding war for the parent of the No. 2 U.S. futures exchange with IntercontinentalExchange Inc. since March.


Read more at Reuters.com Bonds News

European Bond Yields Hold Near Five-Year High After May Inflation Report

(Bloomberg) -- European bond yields held near the
highest since August 2002 after a report showed euro region
inflation stayed near the European Central Bank's 2 percent,
fueling expectations of further interest-rate increases.

Benchmark debt fell yesterday after ECB policy maker Erkki
Liikanen said the outlook for economic growth in Europe will be
``positive'' for years. Futures prices show investors are betting
central bank policy makers will lift rates twice more this year.


Read more at Bloomberg Bonds News

European Stocks Rise on Fed Comments; Michelin, Siemsn, Rio Pace Advance

(Bloomberg) -- European stocks advanced for a second
day, led by exporters and mining companies, after the U.S.
Federal Reserve said the world's largest economy is growing
without spurring inflation and copper prices increased in Asia.

Michelin & Cie. and Siemens AG led an advance by companies
that make at least 20 percent of their sales in the U.S. Rio Tinto
Group, the world's third-biggest mining company, climbed to a
record. Cadbury Schweppes Plc gained on expectations the world's
largest confectioner may get offers for its U.S. drinks unit.


Read more at Bloomberg Stocks News

European Coal Prices Jump 3.1 Percent to Highest in at Least 27 Months

(Bloomberg) -- European coal prices jumped to their
highest in at least 27 months.

Coal for delivery this month to Amsterdam, Rotterdam or
Antwerp, rose $2.25, or 3.1 percent, to $75.90 a metric ton as of
9:29 a.m. in London, according to ICAP Plc prices on Bloomberg.
That's the highest since at least March 2005.


Read more at Bloomberg Energy News

GLOBAL MARKETS-Equities bounce back as bonds stabilise

(Reuters) - European and Asian shares both rose -- with South Korea
hitting an all-time high. The dollar rose against the Japanese
yen and was flat versus the euro.




Central banks' tendency towards tightening, however, was
underlined by the Swiss National Bank, which raised interest
rates by 25 basis points to a target of around 2.5 percent and
said more hikes are likely.


Read more at Reuters.com Bonds News

German 2008 Power Rises to Highest in More Than a Year on Emission Costs

(Bloomberg) -- German electricity for delivery next
year climbed to its highest in more than a year.

Next-year power prices in Germany, Europe's biggest
electricity market, gained for a second day. The contract rose
as much as 40 cents, or 0.7 percent, to 57.60 euros ($76.57) a
megawatt hour, data from broker GFI Group Inc. showed. It traded
at 57.45 euros at 9:08 a.m. in Berlin. That's the highest since
May last year.


Read more at Bloomberg Energy News

Saudi Aramco Expands Yanbu Refinery's Capacity to Make Unleaded Gasoline

(Bloomberg) -- Saudi Aramco, the world's biggest
state-owned oil company, increased its gasoline-refining production
capacity at the Yanbu refinery as part of the company's efforts to
expand refining and meet local and international demand.

The upgrades at the Yanbu refinery in western Saudi Arabia
will add 8,000 barrels a day of 95-octane unleaded-gasoline output,
Saudi Aramco said in a statement on its Web site late yesterday.


Read more at Bloomberg Energy News

European shares open higher, tracking U.S., Asia

(Reuters) - London's FTSE 100 was 0.7 percent higher, Paris's CAC 40 advanced 0.7 percent and Frankfurt's DAX stood 1.1 percent higher.




Read more at Reuters.com Hot Stocks News