Taiwan's Hon Hai eyes stake in LG.Philips: papers

(Reuters) - Hon Hai officials were not available for comment.




Dutch company Philips Electronics owns about a one-third stake in LG.Philips LCD, the world's No.2 LCD maker, worth about $5.4 billion at current market prices, according to Reuters data.


Read more at Reuters.com Business News

UPDATE 1-Brazil's Embraer delivers 36 planes in 2nd quarter

(Reuters) - "Embraer maintains its projection of delivering 165 to 170
aircraft in 2007," it said in a statement.




Orders for commercial, executive and military aircraft rose
by $600 million between April and June to total $15.6 billion,
the highest ever, the company said.


Read more at Reuters.com Bonds News

US states to roll out subprime guidance for brokers

(Reuters) - Officials at CSBS, a group representing state regulators,
said so far about 27 states and the District of Colombia plan
to adopt the guidance within 48 hours after it is issued on
Tuesday. No state has indicated that it will not eventually
adopt it, they said.




Last month federal banking regulatory agencies issued
guidance to curtail risky practices blamed for a record level
of home foreclosures, according to the state group.


Read more at Reuters.com Government Filings News

Amgen, Frontline, GE, Hovnanian and RadioShack: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. in New York.

Alcoa Inc. (AA US) rose $2.06, or 4.6 percent, to $47.35.
The world's second-biggest aluminum maker said yesterday it
withdrew its unsolicited takeover bid for aluminum producer Alcan
Inc. (AL US) after Rio Tinto Group (RIO AU) made a higher offer
of $38.1 billion. Separately, Credit Suisse Group increased its
share-price estimate for Alcoa by 22 percent to $55, saying that
takeover speculation would support the stock. Alcan shares fell
95 cents to $97.50.


Read more at Bloomberg Stocks News

Gold holds on near 5-week high

(Reuters) - "Funds have been attracted into these markets because they are in an uptrend and that gives them an opportunity to make some money. They are making the markets more volatile," said Richard Davis, director of natural resources at Merrill Lynch Investment Managers.




"Our view on gold is very positive going forward. Investment demand is growing and that is important because investment demand is the only thing which has driven a bull market in gold."


Read more at Reuters.com Hot Stocks News

Cocoa Falls for First Week in Five on Rain, Relative Calm in Ivory Coast

(Bloomberg) -- Cocoa declined in New York and posted
the first weekly drop in five after rain fell and political
tensions eased in Ivory Coast, the world's biggest cocoa grower.

Rainfall over the past few days on the West African nation
relieved dry weather that was threatening the harvest. Little
follow-up violence to the June 29 attack on Prime Minister
Guillaume Soro reduced concern that exports will be affected,
analysts said.


Read more at Bloomberg Commodities News

Amgen, Frontline, GE, Hovnanian, RadioShack, Shaw: 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 2:45 p.m. New York time.

Alcoa Inc. (AA US) rose $1.95, or 4.3 percent, to $47.24.
The world's second-biggest aluminum maker said yesterday it
withdrew its unsolicited takeover bid for aluminum producer Alcan
Inc. (AL US) after Rio Tinto Group (RIO AU) made a higher offer
of $38.1 billion. Separately, Credit Suisse Group increased its
share-price estimate for Alcoa by 22 percent to $55, saying that
takeover speculation would support the stock. Alcan shares fell
85 cents to $97.60.


Read more at Bloomberg Stocks News

Rio's Alcan deal spotlights alumina, bauxite

(Reuters) - Rio's recommended offer for Alcan, which immediately
eliminated a lower one by arch-rival Alcoa Inc. will make Rio
the world's largest aluminum maker.




With a combined smelting capacity approaching 4.4 million
tons -- out of a projected 37 million tons to be consumed
worldwide this year, Rio will easily eclipse other sector
giants United Company Rusal, Aluminum Corp. of China and Alcoa
in size.


Read more at Reuters.com Business News

US STOCKS-Dow up with GE, S&P 500 flirts with high

(Reuters) - NEW YORK, July 13 - U.S. blue-chip stocks edged
higher on Friday, pushing the Dow to a record, as General
Electric Co increased a stock buyback plan and a report
showed consumer sentiment rose in early July.




The broad Standard & Poor's 500 stock index came to within
a point of its all-time high, a day after a market rally in
which the Dow notched its biggest one-day points-gain in more
than four years.


Read more at Reuters.com Bonds News

Debt, buybacks let firms boost returns without LBOs

(Reuters) - In a growing practice known as leveraged recapitalization, companies increase returns by floating debt and using the proceeds to buy back stock or pay special dividends. These transactions are especially attractive now, when low interest rates make debt financing cheap.




Recaps are also a response by corporate chiefs who see the windfall generated by private-equity firms and want to perform their own financial engineering, stay in control and please shareholders.


Read more at Reuters.com Bonds News

Copa Holdings, Fleetwood, Playtex, Spectrum Brands: 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 11:40 a.m. New York time.

Alcoa Inc. (AA US) rose $1.91, or 4.2 percent, to $47.20.
The world's second-biggest aluminum maker said yesterday it
withdrew its unsolicited takeover bid for aluminum producer Alcan
Inc. (AL US) after Rio Tinto Group (RIO AU) made a higher offer
of $38.1 billion. Separately, Credit Suisse Group increased its
share-price estimate for Alcoa by 22 percent to $55, saying that
takeover speculation would support the stock. Alcan shares fell
45 cents to $98.


Read more at Bloomberg Stocks News

Crude Oil May Fall Next Week as Gasoline Inventories Rise, Survey Shows

(Bloomberg) -- Crude oil may fall next week on
speculation U.S. gasoline inventories will increase as refineries
finish maintenance.

Twenty-one of 42 analysts surveyed, or 50 percent, said oil
prices will decline. Fifteen, or 36 percent, said prices will
increase and six forecast little change. Last week, 44 percent of
respondents said prices would rise.


Read more at Bloomberg Energy News

U.S. Stock Indexes Rise to Records for 2nd Day; GE, Homebuilders Advance

(Bloomberg) -- U.S. stock indexes rose to records
for a second day on General Electric Co.'s $14 billion share-
buyback plan and speculation Warren Buffett will buy a stake in
homebuilder Hovnanian Inc.

Hovnanian surged the most since 2004 and builders posted
three of the top 10 gains in the Standard & Poor's 500 Index.
Alcoa Inc. rallied as analysts raised share-price estimates on
expectations it will be purchased. Amgen Inc. and Paychex Inc.
also gained after disclosing plans to repurchase shares.


Read more at Bloomberg Stocks News

Lehman, Barclays, Bank of America Say the Worst Is Over in Credit Markets

(Bloomberg) -- Lehman Brothers Holdings Inc., the
biggest underwriter of mortgage bonds, Bank of America Corp. and
Barclays Capital say the worst of the global credit market rout
is over for now and investors should buy investment-grade debt.

``Much of the pain has been squeezed out,'' Lehman's
London-based credit strategist David Brickman said in an
interview. ``There may be some aftershocks but investors are
showing a willingness to take exposure to investment-grade
credit.''


Read more at Bloomberg Bonds News

S.Africa stocks touch fresh peak, shy of key level

(Reuters) - South African shares pushed to a second straight record high on Friday lifted by financial and gold shares, but profit-taking kept the All-share index from breaking through a key level.

The Johannesburg Top-40 index of blue-chip stocks gained 0.64 percent to 27,202.76 points, a fresh closing peak, while the All-share index added 0.57 percent to 29,961.73 points, also a record.


Read more at Reuters Africa

Baker Hughes Profit Misses Estimates on Drilling Slowdown; Shares Decline

(Bloomberg) -- Baker Hughes Inc., the world's third-
largest oilfield-services provider, said second-quarter profit
was less than analysts expected because of a slowdown in drilling
in Canada and higher tax rates and costs. Its shares fell almost
6 percent.

Net income probably was $1.07 to $1.09 a share, the Houston-
based company said in a preliminary earnings statement today.
Baker Hughes was expected to earn $1.19 a share, the average of
11 analyst estimates compiled by Bloomberg. The company is
scheduled to report actual results on July 27.


Read more at Bloomberg Energy News

U.S. Stock Indexes Extend Records; GE, Amgen Shares Advance on Buybacks

(Bloomberg) -- U.S. stock indexes rose to records
for a second day after companies announced at least $20 billion
in share buybacks and a surge in oil prices boosted energy
producers.

General Electric Co., Amgen Inc. and Paychex Inc. gained
after revealing plans to repurchase shares. Exxon Mobil Corp.
and ConocoPhillips led energy shares to a second straight peak
after oil climbed above $73 a barrel.


Read more at Bloomberg Stocks News

US STOCKS-Blue chips rise on GE, consumer sentiment

(Reuters) - NEW YORK, July 13 - U.S. blue-chip stocks rose on
Friday, sending the Dow to a record, as General Electric Co's
expanded share repurchase plan and a
stronger-than-expected reading of consumer sentiment tempered
worries about the economy's health.




Shares of GE, the world's second-largest company by market
capitalization, rose 2 percent, putting the stock among the Dow
industrial average's biggest advancers, along with shares of
Alcoa Inc. and Caterpillar Inc


Read more at Reuters.com Bonds News

Lead Rises to Record in London on Australia Pollution Probe; Copper Falls

(Bloomberg) -- Lead rose to a record in London for
a third consecutive day on speculation an expanded inquiry into
contamination at Australian ports will exacerbate a shortage of
the metal. Copper fell after a mine strike ended in Chile.

Western Australia state will assess pollution at seven
ports after lead was detected in tests at Derby and Geraldton,
the state's Department of Environment said yesterday. Shipments
of raw material containing the metal used in batteries had
already been suspended from the port of Esperance.


Read more at Bloomberg Commodities News

Cross Country to buy clinical research firm for $19.6 mln

(Reuters) - The healthcare staffing company expects the deal to
modestly add to its 2007 earnings and said it would finance the
deal using its revolving credit facility.





Read more at Reuters.com Mergers News

U.S. May business inventories up 0.5 pct

(Reuters) - Financial markets were expecting a 0.3 percent rise in
May. In the report, retail inventories advanced by 0.6 percent
in May, the biggest gain since June of last year.




Sales advanced 1.3 percent in May, after a 0.7 percent
rise in April.


Read more at Reuters.com Economic News

Most U.S. Stocks Slip as Retail Sales Fall, Import Prices Advance in June

(Bloomberg) -- Most U.S. stocks fell after
government reports showed a bigger-than-expected drop in retail
sales and higher import prices last month.

Procter & Gamble Co., Cisco Systems Inc. and Hewlett-
Packard Co. led declines. RadioShack Corp. posted the steepest
retreat in the Standard & Poor's 500 Index after Banc of
America downgraded shares of the third-largest U.S. electronics
chain.


Read more at Bloomberg Stocks News

TREASURIES-Bonds rise after weak retail sales data

(Reuters) - However, higher-than-expected import prices, a gauge of
inflation pressures coming into the United States, may have
capped Treasuries' gains, analysts said.




"The retail sales data was probably a bit positive for
Treasuries, especially given the sell-off we had yesterday,"
said John Spinello, Treasury bond strategist with Jefferies &
Co. in New York. "The data is not really damaging for the
economy so you will get a muted reaction," Spinello said.


Read more at Reuters.com Bonds News

Idenix CEO says hepatitis C drug has "no future"

(Reuters) - He said the company will discuss the issue with its partner, Swiss drugmaker Novartis AG . However, he said: "I do not want to raise any expectations because I believe this drug will have no future in further clinical development."




The company said the U.S. Food and Drug Administration was concerned over gastrointestinal side effects such as nausea and vomiting.


Read more at Reuters.com Hot Stocks News

US STOCKS-Futures rise after GE expands share buyback

(Reuters) - NEW YORK, July 13 - U.S. stock index futures rose
on Friday, signaling a higher market open, after General
Electric Co. increased its stock repurchase plan, adding
to investors' optimism after Thursday's record session.




GE, the world's second-largest company by market
capitalization, said it had raised the buyback plan to $14
billion. For details, see [ID:nN13377081].


Read more at Reuters.com Bonds News

UPDATE 1-Lululemon sees IPO of 16.4 mln shares

(Reuters) - The retailer of yoga-inspired athletic apparel in North
America had earlier filed to offer 18.2 million shares,
according to a July 9 filing with the U.S Securities and
Exchange Commission.




In an amended filing, the company on Friday said it plans
to sell 2.3 million shares while certain stockholders will sell
the remaining 14.1 million shares.


Read more at Reuters.com Government Filings News

UPDATE 1-Idenix halts hepatitis C drug development in U.S.

(Reuters) - The Cambridge, Massachusetts-based company said the
decision to hold up development of valopicitabine in the United
States was based on the "overall risk/benefit profile observed
to date in clinical testing."




"We are disappointed with the perspective on the program, and are working
with Novartis to evaluate our options for valopicitabine,"
Idenix Chief Executive Jean-Pierre Sommadossi said in a
statement.


Read more at Reuters.com Government Filings News

LNG Tanker Headed From Algeria to U.K. Isle of Grain Terminal, Data Show

(Bloomberg) -- A tanker for liquefied natural-gas
will arrive at the U.K.'s Isle of Grain terminal on July 16,
according to Aislive data on Bloomberg.

The tanker, the Berge Arzew, has a capacity of 138,028
cubic meters, the data show. It has previously been used by
Algeria's Sonatrach to deliver supplies of LNG, which is natural
gas cooled to a liquid, to the Grain terminal, owned by National
Grid Plc.


Read more at Bloomberg Energy News

TEXT-Dutch supreme court ruling on ABN's LaSalle

(Reuters) - The following is a summary of the text of the ruling, as
distributed by the court.




"In brief the Supreme Court has ruled as follows:


Read more at Reuters.com Mergers News

South Korea's Kospi Index Jumps the Most in a Year: World's Biggest Mover

(Bloomberg) -- South Korean stocks surged by the
most in a year, posting the biggest percentage change among
markets included in global benchmarks. Samsung Electronics Co.
climbed after a newspaper reported that billionaire investor
Carl Icahn may be planning a hostile bid and the company
forecast ``significant improvement'' in earnings.

Posco jumped by the most in more than four years, leading
metals producers higher, after Rio Tinto Group agreed to buy
Canada-based Alcan Inc. for $38.1 billion and Dongkuk Steel Mill
Co. raised prices.


Read more at Bloomberg Stocks News

Egypt Suez Canal revenues rise in June yr/yr

(Reuters) - Egypt's revenues from the Suez Canal climbed to $358.8 million in June 2007 from $318.1 million in the same month a year earlier, the Suez Canal Authority said on Friday.

The number of vessels passing through the waterway fell to 1,657 in June from 1,679 in May, but up from 1,534 in June 2006.


Read more at Reuters Africa

GLOBAL MARKETS-Stocks up, dlr steadies as investors seek risk

(Reuters) - The calming of fears over possible spillover effects from
troubles in the U.S. subprime mortgage market -- which caters to
borrowers with poor credit histories -- were also mirrored in
European government bond markets as debt prices fell, tracking
lower U.S. Treasuries in Asia overnight.




The iTraxx Crossover index , the most widely
watched barometer of European credit sentiment, also entered
calmer waters after extreme subprime-related jitters.


Read more at Reuters.com Bonds News

Vattenfall Will Keep Germany's Kruemmel Nuclear Plant Stopped for `Weeks'

(Bloomberg) -- Vattenfall Europe AG, Germany's
fourth-largest utility, expects the outage at its Kruemmel
nuclear plant, which caught fire on June 28, to last at least
``several more weeks'' as the company carries out repairs.

Vattenfall plans to complete the plant's scheduled annual
maintenance before restarting the reactor, Hamburg-based
spokesman Ivo Banek said by telephone today. The maintenance,
which was scheduled to begin in August, may start sooner because
the plant is already halted, he said.


Read more at Bloomberg Energy News

U.K. Pound Heads for Fifth Weekly Gain Versus Dollar on Interest Rate View

(Bloomberg) -- The pound is poised for its longest
winning streak versus the dollar in more than a year on
speculation the Bank of England will keep raising interest rates
while the Federal Reserve stays on hold.

The U.K. currency is set for a fifth week of gains as
futures traders bet the central bank will raise rates a quarter-
point and start pricing in a further move to 6.25 percent by
year-end. The pound touched a 26-year high after Moody's
Investors Service cut ratings on bonds backed by U.S. subprime
mortgages and Standard & Poor's threatened to do the same.


Read more at Bloomberg Currencies News

Dutch Court's Ruling on LaSalle Sale Will Help Determine ABN Amro Winner

(Bloomberg) -- The Dutch Supreme Court will rule
today on the sale of ABN Amro Holding NV's U.S. unit and will help
determine whether Royal Bank of Scotland Group Plc or Barclays Plc
wins the biggest takeover in banking history.

The Hague-based court will make its decision public at 10
a.m. Central European time. The President of the Civil Chamber
will read the highlights of the ruling.


Read more at Bloomberg Stocks News

Calyon Raises Lead Price Forecast For This Year by 43 Percent, Cuts Nickel

(Bloomberg) -- Calyon, the investment banking unit
of Credit Agricole SA, raised its forecast for lead prices this
year by 43 percent to an average $2,620 a metric ton, while it
lowered its projected nickel price.

``Our expectations for lead prices are still very bullish,
largely driven by the continued underperformance of Chinese
metals' exports,'' Michael Widmer, head of metals research at
Calyon in London, wrote in a report yesterday. Calyon, one of 11
companies that trade on the floor of the London Metal Exchange,
earlier forecast the metal would average $1,830 a ton in 2007.


Read more at Bloomberg Commodities News