DEALTALK: Blackstone CEO's high profile sparks backlash

(Reuters) - The CEO and co-founder of Blackstone Group this
week became a lightning rod for criticism over perceptions that
he makes too much money and leads an overly lavish lifestyle.




Blackstone revealed his stake in the firm could be worth
$7.73 billion after its initial public offering this month and
that he will get a one-off payout of up to $677.2 million.


Read more at Reuters.com Government Filings News

Cotton Extends Rally to Three-Year High as U.S. Exports to China May Climb

(Bloomberg) -- Cotton in New York rose, extending a
rally to a three-year high, after supplies dwindled in China,
spurring speculation shipments from the U.S. may increase.

The National Development & Reform Commission in China, the
world's biggest cotton consumer, said this week the country will
boost imports of the fiber in the second half as local supplies
dwindle. Cotton futures on the Zhengzhou Commodity Exchange in
China climbed for the fifth week in a row.


Read more at Bloomberg Commodities News

Loral Space joins bidding for Intelsat: report

(Reuters) - The Journal said Intelsat could draw bids from $4.5 billion to more than $5.5 billion.




Intelsat is jointly owned by four private equity companies including Apax Partners , Permira , Apollo Management and Madison Dearborn Partners.


Read more at Reuters.com Mergers News

Brazilian Real Increases After Core Inflation Rate Declines in the U.S.

(Bloomberg) -- Brazil's real strengthened as a
slowdown in U.S. core inflation eased speculation the Federal
Reserve will raise interest rates, helping maintain demand for
Brazil's higher-yielding, riskier securities.

The real rose 0.7 percent to 1.912 per dollar at 4:21 p.m.
New York time. It has gained 11.7 percent this year, making it
the best performer among the 16 currencies most traded against
the dollar. The currency has gained 2.4 percent this week.


Read more at Bloomberg Currencies News

Navistar says unit secures new $200 mln credit facility

(Reuters) - The facility, which matures in June 2012, was arranged by
Credit Suisse, Bank of America, and JPMorgan Chase Bank. Credit
Suisse is the lead arranger and Bank of America is the
collateral agent, the company said.





Read more at Reuters.com Bonds News

Wheat Futures Fall on Speculation Rain Will Help Australia, Ukraine Crops

(Bloomberg) -- Wheat futures fell from an 11-year
high on speculation that rain in growing regions of Australia and
Ukraine will help alleviate drought and boost world production.

Rains in parts of Queensland and northern New South Wales
will help soil moisture and improve crop prospects, according to
Woburn, Massachusetts-based Meteorlogix LLC. Rain was also
expected in Ukraine, the forecaster said. Futures rose this week
to the highest price since 1996 as excessive rains in the U.S.
and drought in Australia and Ukraine damaged plants.


Read more at Bloomberg Commodities News

Disney, Fortress, Lexmark, Nvidia, Sherwin-Williams: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 1:20 p.m. New York time.

Shares of some manufacturers of lead paint advanced after
Sherwin-Williams Co. (SHW US) and other companies won dismissal
of a lawsuit by cities and counties in New Jersey that claimed
the companies' products endangered public health.


Read more at Bloomberg Stocks News

Blackstone says "no golden parachute" for execs

(Reuters) - Under the agreement each executive gets to keep an office, a car and a driver for three years after they retire.




They will also receive health insurance benefits after they retire as long as each pays for the premium.


Read more at Reuters.com Business News

US STOCKS-Indexes rise on tame CPI, Intel and Exxon

(Reuters) - NEW YORK, June 15 - U.S. stocks advanced for a
third day on Friday on reassuring inflation news and fresh
optimism about the tech sector after an upgrade of bellwether
Intel.




The Nasdaq climbed to its highest in more than six years.


Read more at Reuters.com Bonds News

Polypore International sees IPO of 15 mln shares at $20-$22 each

(Reuters) - The Charlotte, North Carolina-based company said it
received approval for a New York Stock Exchange listing under
the symbol "PPO."





Read more at Reuters.com Bonds News

European shares end up as US inflation reassures

(Reuters) - European shares rose sharply on Friday, helped by a tame reading on U.S. core inflation that eased concerns over potential Federal Reserve rate increases and sent bond yields lower.

The FTSEurofirst 300 index of top European companies ended unofficially up 1.2 percent, taking its gain in the week to 3.6 percent and wiping out its losses of the previous week.


Read more at Reuters Africa

Halliburton seen losing shr in parts of N. America

(Reuters) - Halliburton, Schlumberger Ltd. and BJ Services
Co. dominate the very profitable well fracturing and
stimulation markets with more than 50 percent share.




Energy companies use those services to increase their
production of natural gas from hard-to-reach pockets in
substances like shale.


Read more at Reuters.com Market News

Gold drifts higher in Europe after dollar decline

(Reuters) - Gold moved higher in Europe on Friday on a weaker dollar after U.S. data showed core consumer inflation was lower than expected.

Spot gold rose as high as $653.75 an ounce and was quoted at $653.15/$653.65 by 1419 GMT, against $651.20/$652.70 in New York late on Friday.


Read more at Reuters Africa

US STOCKS-Indexes rise on muted core CPI, Intel gains

(Reuters) - NEW YORK, June 15 - U.S. stocks rose on Friday
after government data showed consumer prices, excluding food
and energy, grew less than expected in May, reassuring
investors about the economy's health.




Shares of Intel Corp. underpinned early gains and
fueled an advance among technology stocks with a 3.3 percent
jump after Goldman Sachs raised its rating on the chipmaker, a
component of the Dow Jones industrial average , to "buy"
from "neutral."


Read more at Reuters.com Bonds News

Dollar Posts Biggest Drop Versus Euro in More Than Week as Inflation Eases

(Bloomberg) -- The dollar fell the most against the
euro in more than a week on reports showing a measure of
inflation rose less than economists forecast and industrial
production stalled last month.

Treasury yields fell from near five-year highs, as
investors pared expectations of a boost in borrowing costs by
the Federal Reserve. The yen fell against all of the 16 most
active currencies tracked by Bloomberg as Bank of Japan Governor
Toshihiko Fukui said the central bank needed to be ``more
confident'' about price increases before raising rates.


Read more at Bloomberg Currencies News

Oil Is Little Changed Amid Concern U.S. Refiners Won't Meet Fuel Demand

(Bloomberg) -- Crude oil in New York was little
changed amid concern that U.S. refiners will be unable to keep
up with growing gasoline demand.

Valero Energy Corp. shut a unit at its Corpus Christi,
Texas, refinery yesterday, according to a state-administered Web
site. Refineries in the U.S. and Canada have unexpectedly shut
units this spring, paring gasoline production for the peak-demand
driving season. U.S. refineries reduced operating rates the past
three weeks, an Energy Department report on June 13 showed.


Read more at Bloomberg Commodities News

BofA shelves ABN lawsuit, key court guidance nears

(Reuters) - By Reed Stevenson and Steve Slater



AMSTERDAM/LONDON, June 15 - Bank of America has shelved plans to take Dutch bank ABN AMRO to court, saying it wanted to wait until the Dutch Supreme Court rules on ABN's sale of its U.S. unit in mid-July.


Read more at Reuters.com Mergers News

TREASURIES-Bonds extend gains after industrial output

(Reuters) - The benchmark 10-year note's price rose 7/32 for a yield of
5.20 percent , versus 5.21 percent before the report
and compared with 5.23 percent late on Thursday. Bond yields
and prices move inversely.




Read more at Reuters.com Bonds News

Taiwan's Benchmark Index Rises to Six-Year High, Led by Cathay Financial

(Bloomberg) -- Taiwan's stocks rose to a six-year
high. Cathay Financial Holding Co. led insurers higher after
lawmakers approved a bill allowing them to invest more of their
assets overseas.

``Parliament's decision gives more room for Taiwan insurers
to maximize profitability by investing globally,'' said Yin Nai-
yun, who oversees $172 million at Prudential Securities
Investment Trust Enterprise in Taipei.


Read more at Bloomberg Stocks News

Oil Falls From Close to Nine-Month High; Earlier Gain Seen as Unjustified

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York as some analysts and traders speculated recent
gains weren't justified.

Oil rose this week after the U.S. Department of Energy said
refineries cut processing to a six-week low last week, as demand
for gasoline grew. Oil also rose after Iran, the second-largest
producer in the Organization of Petroleum Exporting Countries,
rejected United Nations demands to quit enriching uranium.


Read more at Bloomberg Energy News

Treasuries Advance as Measure of Consumer Prices Rises Less Than Forecast

(Bloomberg) -- Treasuries rose as a measure of
consumer prices rose less than forecast last month, damping
speculation the Federal Reserve will lift interest rates later
this year.

Consumer prices, excluding food and energy, increased 0.1
percent in May, after climbing 0.2 percent in April, government
data showed. The reading compared with the 0.2 percent increase
that was the median forecast in a Bloomberg News survey.


Read more at Bloomberg Bonds News

Zambia to revoke railway firm's concession

(Reuters) - Zambia plans to revoke a 20-year concession awarded to the company which operates the national railways network, a key transport route for its vast copper and cobalt mines, President Levy Mwanawasa said on Friday.

Railway Systems of Zambia (RSZ), a subsidiary of New Limpopo Bridge Investments (NLBI), will lose the concession to provide freight service -- one of the country's major privatizations -- because of its poor management, said Mwanawasa.


Read more at Reuters Africa

American Home Mortgage cuts dividend 38 pct

(Reuters) - In April, the REIT said first-quarter profit fell 44
percent to $30.7 million, or 54 cents per share. It also cut
its 2007 earnings forecast for a second time in three weeks,
projecting profit of $3.25 to $3.75 per share. The REIT makes
more than 2 percent of U.S. home loans.




Read more at Reuters.com Bonds News

Degussa Credit-Default Swaps Jump on Concern Over RAG Leveraged Buyout

(Bloomberg) -- The risk of owning bonds sold by
Degussa AG, the world's biggest specialty chemicals maker, rose
on concern its parent RAG AG may be acquired in a leveraged
buyout, according to traders of credit-default swaps.

Cerberus Capital Management LP, the New York-based private
equity firm, offered between 6 billion euros ($8 billion) and 8
billion euros for RAG, company spokeswoman Barbara Mueller said
today. The Essen, Germany-based company operates coalmining,
property, energy and chemicals businesses.


Read more at Bloomberg Bonds News

Platinum Falls in London as Higher Rates May Slow Demand; Palladium Drops

(Bloomberg) -- Platinum fell for a fourth successive
day in London on speculation rising borrowing costs in Europe
will slow demand from car manufacturers. Palladium also dropped.

Europe was the biggest user of platinum last year, dominated
by demand from manufacturers of auto catalysts to reduce
pollution, according to London-based manufacturer Johnson Matthey
Plc. The European Central Bank, the Swiss National Bank and the
Bank of England have raised interest rates this year.


Read more at Bloomberg Commodities News

Degussa, Sainsbury Bond Risk Rises: European Credit-Default Swap Movers

(Bloomberg) -- The risk of owning European
corporate bonds fell, according to traders in the credit-default
swaps market.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index fell 1,000 euros
to 202,000 euros at 8:50 a.m. in London, according to JPMorgan
Chase & Co.


Read more at Bloomberg Bonds News

European Stocks Rise for Third Day; Sainsbury, Tesco, Wolseley Pace Gains

(Bloomberg) -- European stocks rose for a third day
after a Qatar fund bought shares in J Sainsbury Plc, the third-
largest U.K. supermarket chain, and fueling speculation takeovers
will increase in the industry.

Sainsbury and Tesco Plc, Britain's biggest supermarket
company, led the Dow Jones Stoxx 600 Retail Index to the highest
since June 4. Total SA, Europe's largest refiner, and Royal Dutch
Shell Plc advanced as oil traded near the highest in nine months.
Wolseley Plc rallied on speculation the world's biggest distributor
of plumbing and heating equipment may be a takeover target.


Read more at Bloomberg Stocks News

U.K. Power Traders, RWE, Merrill, Seek Exchange for Electricity Auctions

(Bloomberg) -- The U.K.'s Power-Trading Forum,
whose members include utilities such as RWE AG and banks Merrill
Lynch & Co. and Barclays Capital, called for the development of
exchange-based clearing and auctions for electricity.

The forum is seeking an operator to immediately provide an
exchange-trading platform for electricity and act as a pool for
market liquidity, it said in an e-mailed statement.


Read more at Bloomberg Energy News

Banks, retailers boost European shares

(Reuters) - European shares rose in early trade on Friday, pushed up by financial and resource shares as the oil price soared back above $71 a barrel, while investors waited for key U.S. inflation data due later in the day.

The DJ Stoxx European retail index gained 1 percent led by J. Sainsbury which added 4.5 percent, after a Qatari group increased its stake in the supermarket to a quarter.


Read more at Reuters Africa

NYMEX explores sale of company -report

(Reuters) - A NYMEX response is not mentioned in the report, which cited
two people involved in the discussions. A spokeswoman for NYMEX
did not immediately respond to a call and e-mail seeking
comment. The three exchanges mentioned in the report were not
immediately available for comment.




NYMEX shares closed at $139.80 on Thursday on the New York
Stock Exchange, up almost 5 percent on the day.


Read more at Reuters.com Mergers News

Nordic Stocks Advance, Led by Statoil, Norsk; Mobile Phone Makers Climb

(Bloomberg) -- Nordic stocks advanced for a third
day, led by Statoil ASA and Norsk Hydro ASA, the region's biggest
oil and gas producers, as oil traded near a nine-month high.
Ericsson AB and Nokia Oyj also gained.

The Dow Jones Nordic 30 Index climbed 39.23, or 0.4 percent,
to 8953.08 at 9:06 a.m. in Stockholm, as all but five its members
rose.


Read more at Bloomberg Stocks News

Chinese investment quickens, fuels tightening talk

(Reuters) - Fixed investment in urban areas rose 25.9 percent from a year earlier, picking up from 25.5 percent growth in the January-April period, the National Bureau of Statistics said on Friday.




The median forecast of economists polled by Reuters was for a rise of 25.7 percent, although a government source familiar with the data had said it would be 25.9 percent.


Read more at Reuters.com Business News