Korean Won Climbs to 2007 High; Philippine Peso Surges to Seven-Year High

(Bloomberg) -- South Korea's won reached the
strongest this year on signs economic growth is gathering pace.

The currency has ``gained a lot'' against the dollar and yen,
Vice Finance Minister Kim Seok Dong said yesterday, adding the
government will stabilize it when necessary. Reports this week
showed department store sales rose at the fastest pace in four
months in June, and China, Korea's biggest export market, grew at
the fastest pace in 12 years last quarter.


Read more at Bloomberg Currencies News

JVC,Kenwood agree on capital,business pact-sources

(Reuters) - The deal would lower Panasonic maker Matsushita's stake in
JVC to about 39 percent, taking the loss-making company off its
consolidated accounts.




Matsushita, the world's largest consumer electronics maker,
has been trying to reduce its JVC stake, worth about 48.5 billion
yen, because its persistent losses have been weighing on its
group-based earnings performance.


Read more at Reuters.com Mergers News

Singapore's Stocks Gain for Second Day; Keppel Gains on Crude Price Rise

(Bloomberg) -- Singapore's stocks rose for a second
day. Keppel Corp. led gains among oil-services companies after
crude prices reached an 11-month high of $76 a barrel.

CapitaLand Ltd. gained, helping property shares rebound from
a two-day loss as investors judged that recent declines were
overdone. CapitaCommercial Trust advanced after the real estate
investment trust said net distributable income rose last quarter.


Read more at Bloomberg Stocks News

South Korea's Kospi Index Rises; LG, Hynix Lead Technology Shares Higher

(Bloomberg) -- South Korean stocks rose for the
second day. LG Electronics Inc. gained after its better-than-
expected profit prompted brokerages to raise their
recommendations or price estimates.

Hynix Semiconductor Inc. climbed after Shinyoung Securities
Co. lifted its earnings estimate and said the actual figures may
still beat the revised projections on higher chip prices.


Read more at Bloomberg Stocks News

Japanese Bonds May Decline Before Next Week's Auction, National Elections

(Bloomberg) -- Japanese bonds may decline on
speculation investors will demand higher yields before a debt
auction next week and parliamentary elections three days later.

The government will sell 800 billion yen ($6.56 billion) of
20-year notes on July 26. Half of the upper house's 242 seats
are up for grabs in the July 29 elections. The Liberal
Democratic Party and its coalition partner, New Komeito, need to
win 64 seats to keep their majority and a defeat would likely
force Prime Minister Shinzo Abe to resign.


Read more at Bloomberg Bonds News

UPDATE 2-Broadcom profit falls but sees improvement

(Reuters) - NEW YORK, July 19 - Chip maker Broadcom Corp.
posted a lower second-quarter profit on Thursday on
weakness in its cable modem and wireless business, but forecast
a recovery, helping to boost its shares.




The stock rose 1.2 percent in after-hours trade to $34.40,
after closing up 5 percent on news that it and Verizon
Wireless, a venture of Verizon Communications Inc. and
Vodafone Group Plc , had reached a licensing deal.


Read more at Reuters.com Market News

China's Yuan, Japanese Yen, Thai Baht, India Rupee: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

U.S. House appoves increased health, education funds

(Reuters) - By a vote of 276-140, the House passed the $607 billion
bill with the support of about 50 of Bush's fellow Republicans.
A similar bill is pending in the Senate and it was unclear
whether Congress could overturn a presidential veto.




Bush, touring the Nashville Bun Company in Tennessee, said
of Democrats, "If they overspend or if they try to raise your
taxes, I'm going to veto their bills."


Read more at Reuters.com Bonds News

UPDATE 1-First Data 2nd-qtr earnings down after items

(Reuters) - Denver-based First Data said second-quarter income from
continuing operations fell to $228.9 million, or 30 cents a
share, from $256.7 million, or 33 cents, a year earlier.




The decline reflects costs associated with its pending
takeover by KKR as well as a large one-time gain
booked in the year-earlier period.


Read more at Reuters.com Mergers News

Orange-Juice Futures Rise to One-Month High on New York on Crop Disease

(Bloomberg) -- Orange-juice futures rose to the
highest in a month after an incurable crop-killing disease was
found in one of the biggest orange-growing areas in Florida.

``Citrus greening,'' which shrinks fruit, ruins flavor and
kills trees, was confirmed in Hardee County, said Andrew
Meadows, spokesman for industry group Florida Citrus Mutual.


Read more at Bloomberg Commodities News

Dow Jones director von Holtzbrinck resigns

(Reuters) - NEW YORK, July 19 - Dow Jones & Co Inc director Dieter von Holtzbrinck said he would resign from the board because he could not support its endorsement of a $5 billion takeover offer by Rupert Murdoch's News Corp .



Von Holtzbrinck said on Thursday Murdoch's $60 per share offer was "very generous in financial terms," but that he was concerned that Dow Jones's journalistic values would "strongly suffer" if the sale goes through.


Read more at Reuters.com Mergers News

Capital One second quarter earnings rise

(Reuters) - The McLean, Virginia-based company said second-quarter net income was $750.4 million, or $1.89 a share, compared with $552.6 million, or $1.78 a share a year earlier.



The company posted revenue of $3.57 billion, up from $2.91 billion a year earlier.


Read more at Reuters.com Market News

Alcoa, Clearwire, Foot Locker, Knoll, Starbucks: 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) slid $1.83, or 3.9 percent, to $44.62.
The Australian newspaper reported that BHP Billiton Ltd. (BHP US)
won't make a takeover offer for the world's second-largest
aluminum company. The newspaper cited sources it didn't name as
confirming that Alcoa, based in New York, is ``no longer a target
of interest'' for Melbourne-based BHP, the world's largest mining
company. BHP's American depositary receipts, each representing 2
ordinary shares, gained $1.75 to $67.54.


Read more at Bloomberg Stocks News

Intuitive Surgical quarterly earnings rise

(Reuters) - Analysts on average were expecting earnings of 67 cents a
share, excluding items, on revenue of $124.5 million, for the
latest quarter, according to Reuters Estimates.





Read more at Reuters.com Market News

Oakley 2nd-qtr net income up as sales jump 29 pct

(Reuters) - Oakley, which is being acquired by Italian luxury eyewear group Luxottica , said second-quarter net profit was $21.5 million, or 31 cents per share, compared with $17.9 million, or 26 cents per share, a year earlier.



) Keywords: OAKLEY RESULTS/


Read more at Reuters.com Market News

US STOCKS-Profits lift stocks, Dow ends over 14,000 for 1st time

(Reuters) - Based on the latest available data, the Dow Jones
industrial average rose 82.11 points, or 0.59 percent,
to end unofficially at 14,000.33. The Standard & Poor's 500
Index was up 6.90 points, or 0.45 percent, to finish
unofficially at 1,553.07. The Nasdaq Composite gained
20.55 points, or 0.76 percent, to close unofficially at
2,720.04, after earlier climbing to 2,724.74, its highest in
six-and-a-half years.




Read more at Reuters.com Bonds News

Google Looks for Acquisitions to Spur Sales as Search Unit's Growth Slows

(Bloomberg) -- Google Inc., with sales slowing after
a sevenfold increase in the past three years, is seeking
acquisitions worldwide.

Google says it has about a dozen people weighing deals that
might be financed with stock and its $11.9 billion in cash and
marketable securities. The owner of the most-popular Internet
search engine announced eight purchases in the second quarter,
its busiest since going public in 2004, including the
$3.1 billion buyout of DoubleClick Inc.


Read more at Bloomberg Exclusive News

FACTBOX-Key facts about U.S. auto labor talks

(Reuters) - The UAW, on the other hand, has said it will fight to
protect the wages and benefits of an industrial middle class
that it helped create in the United States.




Following are five key facts about the union and the
automakers as talks begin:


Read more at Reuters.com Bonds News

Verizon's outlook now stable, was negative - S&P

(Reuters) - "Over the next one to two years, the company's financial
performance and cash resources should be sufficient to
accommodate substantial cash requirements for its businesses,
as well as anticipated stock repurchases," S&P said in a
statement.




Verizon carries an "A" corporate credit rating, which is
the sixth-highest investment grade ranking.


Read more at Reuters.com Bonds News

UPDATE 1-S&P cuts 10 CDO tranches of subprime debt to junk

(Reuters) - NEW YORK, July 19 - Standard & Poor's on Thursday
lowered its ratings on 10 portions of subprime-related debt to
junk, as part of a broader downgrade of U.S. residential
mortgage-backed securities.




The overall rating cuts on Thursday affect 75 so-called
synthetic collateralized debt obligations with exposure to U.S.
mortgages backed by subprime first-lien collateral, whose
ratings were lowered on July 12, S&P said.


Read more at Reuters.com Bonds News

Continental Air profit up on international demand

(Reuters) - NEW YORK, July 19 - Continental Airlines posted a better-than-expected 15 percent increase in quarterly earnings on Thursday on strong demand for trans-Atlantic and other international flights.



The fourth-largest U.S. carrier by passenger traffic said second-quarter net profit rose to $228 million, or $2.03 per share, from $198 million, or $1.84 per share, in the same period a year ago.


Read more at Reuters.com Hot Stocks News

WRAPUP 1-Bank of America leads higher profits at U.S. banks

(Reuters) - Profit rose 5 percent at Bank of America, 24 percent at
SunTrust Banks Inc , 7 percent at BB&T Corp and
11 percent at PNC Financial Services Group Inc .
Earnings fell 2 percent at Fifth Third Bancorp .
Results at all but PNC met or exceeded analysts' forecasts.




Banks are relying on higher fees from such areas as credit
cards and deposits to offset double-digit increases in loan
losses. Asset management and investment banking operations are
boosting revenue as U.S. equity indexes set record highs.


Read more at Reuters.com Market News

Philly Fed factory growth slumps in July

(Reuters) - Any reading above zero indicates growth in the region's
manufacturing sector.




Read more at Reuters.com Bonds News

Focus in Brazil air crash shifts away from runway

(Reuters) - Since Tuesday's fiery accident at Sao Paulo's Congonhas
airport that killed around 200 people, many officials and
aviation experts have focused on the rain-soaked runway that
the plane skidded off before slamming into a gas station and
cargo terminal.




But a video of the botched landing of the Airbus
A320 released by the national airport authority suggests other
factors were also at play in Brazil's second major aviation
disaster in less than a year.


Read more at Reuters.com Bonds News

U.S. Stocks Advance on Earnings; Shares of IBM, Hewlett-Packard Lead Gain

(Bloomberg) -- U.S. stocks gained, led by technology
companies, after International Business Machines Corp. reported
earnings that topped analysts' estimates.

IBM, the world's biggest provider of computer services,
jumped the most since 2003 after boosting its annual profit
forecast. Hewlett-Packard Co. climbed to the highest since 2000
after a research firm said the company widened its lead as the
largest personal-computer maker.


Read more at Bloomberg Stocks News

McClatchy prefers to stay in Careerbuilder -CEO

(Reuters) - "We would like to resolve it sooner rather than later,"
Pruitt said in a conference call with analysts to discuss the
company's second-quarter earnings. "To me, that translates to
weeks, not months."





Read more at Reuters.com Mergers News

Coffee Rises in New York on Concerns Cold Weather May Hurt Crop in Brazil

(Bloomberg) -- Coffee rose to the highest in almost
four weeks in New York on speculation that colder-than-normal
weather in Brazil, the world's largest producer, may develop into
a crop-damaging frost.

Temperatures in Brazil's coffee-growing regions will be near
to below normal today, with lows around 45 degrees Fahrenheit (7
Celsius), according to Meteorlogix LLC in Woburn, Massachusetts.
Cold air will move over southern Brazil today, and a separate
high-pressure ridge may bring cooler-than-normal temperatures
into the coffee belt next week, the forecaster said.


Read more at Bloomberg Commodities News

South Africa's Rand Gains to 11-Month High; Expectations of Wider Rate Gap

(Bloomberg) -- South Africa's rand climbed to the
highest in almost a year against the dollar on expectations the
interest-rate gap with the U.S. will widen.

The currency of Africa's biggest economy has benefited as
the Reserve Bank lifted borrowing costs five times in the past
year to 9.5 percent and is expected to keep doing so to curb
inflation. The dollar held near a record low versus the euro on
speculation slowing economic growth will prevent the Federal
Reserve from raising U.S. rates.


Read more at Bloomberg Currencies News

UPDATE 1-OptionsXpress 2nd-qtr profit rises 29 pct

(Reuters) - OptionsXpress reported net income of $23.2 million, or 37
cents a share, from $18 million, or 29 cents a share a year
earlier.




Analysts on average expected the Chicago-based brokerage to
earn 35 cents per share, excluding items.


Read more at Reuters.com Market News

UPDATE 1-HNI posts better-than-expected profit

(Reuters) - The company expects the office furniture sector to continue
to see moderate growth for the rest of the year, so it says it
is "actively" cutting structural and operating costs.




The U.S. office furniture industry has slowed recently,
with monthly orders in 2007 averaging about 5 percent growth
compared with the double-digit increases of the industry's peak
year in 2005.


Read more at Reuters.com Market News

Logitech quarterly profit falls 15 pct, shares drop

(Reuters) - Net profit in the quarter, which finished at the end of June, fell to $25.6 million from $30.1 million in the year-ago period, below the average forecast of $29.7 million in a Reuters poll of 13 analysts.




The year-earlier quarter's results were boosted by an after-tax gain of $5.8 million from its sale of shares of Anoto Group AB.


Read more at Reuters.com Hot Stocks News

UPDATE 2-S&P slashes "AAA" ratings on some mortgage bonds

(Reuters) - The downgrades included classes, or portions, of a bond
issued by a Goldman Sachs Group Inc. trust, which were
cut to "BBB" from "AAA," S&P said in a statement.




In all, S&P lowered ratings on 418 classes of second-lien
bonds representing $3.8 billion. For a text of the statement
, see [ID:nN19208583].


Read more at Reuters.com Bonds News

US STOCKS-Futures rise on earnings; IBM, Honeywell up

(Reuters) - NEW YORK, July 19 - U.S. stock index futures
signaled a higher market open on Thursday as companies reported
earnings that beat forecasts, shifting investors' focus back to
corporate profits and away from subprime credit worries.




Shares of International Business Machines Corp.
rose 3.6 percent before the opening bell after the world's
largest computer services company reported earnings late on
Wednesday that beat Wall Street expectations. For details, see
[ID:N18415715].


Read more at Reuters.com Bonds News

US STOCKS-Strong earnings power rebound; IBM gains

(Reuters) - NEW YORK, July 19 - U.S. stocks rose sharply on
Thursday as large-cap companies such as IBM and
Honeywell International Inc. reported earnings that
beat forecasts, shifting investors' focus back to corporate
profits and away from subprime credit worries.




International Business Machines Corp., the world's largest
technology services company, also raised its 2007 earnings
forecast late on Wednesday. For details, see [ID:nN18415715].
Manufacturer Honeywell posted a 17 percent rise in profit.
[ID:nN19374753].


Read more at Reuters.com Bonds News

Chile's Quinenco agrees to alliance with Citigroup

(Reuters) - Quinenco said it aims to complete the operation by the
start of next year.





Read more at Reuters.com Mergers News

Roche says no intention to raise Ventana offer

(Reuters) - LONDON, July 19 - Roche Holding AG does not intend to increase its $3 billion, or $75 a share, tender offer for U.S. diagnostics firm Ventana Medical Systems Inc , the Swiss group's chief executive said on Thursday.



"We've no intention to increase that price," Franz Humer told analysts at a post-results meeting in London.


Read more at Reuters.com Mergers News

Emerging-Market Bonds Advance on Rebounding Appetite for High-Yield Assets

(Bloomberg) -- Emerging-market bonds advanced, led
by Argentine and Ecuadorean debt, as appetite for riskier,
higher-yielding securities rebounded.

Developing nation debt erased yesterday's losses as
investors speculated the fallout from the U.S. subprime mortgage
crisis will be limited. Speculation of greater losses linked to
bad bets on collateralized debt obligations backed by these
mortgages led investors to shun risky assets yesterday.


Read more at Bloomberg Bonds News

Brasil Telecom, Eletrobras, Petrobras and Vale: Brazilian Equity Movers

(Bloomberg) -- Brazil's main stock index rose for the
second time in three days, led by state-controlled oil company
Petroleo Brasileiro SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 637.08, or 1.1 percent, to a record 58,192.93 as of
9:52 a.m. New York time.


Read more at Bloomberg Stocks News

McClatchy second-quarter profit falls

(Reuters) - Revenue rose to $580 million from $212 million a year before.



) Keywords: MCCLATCHY RESULTS/


Read more at Reuters.com Market News

Vodacom lifts customers, S.African market share

(Reuters) - South Africa's top mobile phone operator Vodacom raised its customer base by 7.5 percent in the first quarter and boosted its dominance in its home market, co-owner Telkom said on Thursday.

Vodacom's revenue in the three months to end June rose 18.6 percent compared to the year-ago period while total customers increased 28.4 percent year-on-year, taking its subscribers to 32.4 million.


Read more at Reuters Africa

Clearwire, Foot Locker, OptionsXpress, Regal-Beloit: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
Closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:50 a.m. in New York.

Avici Systems Inc. (AVCI US) rose $1.78, or 21 percent, to
$10.20 in trading before the open of U.S. exchanges. The maker of
equipment that directs Internet traffic said in a statement sent
by Business Wire that second-quarter net income rose to 82 cents
a share from 58 cents a year earlier. Revenue increased to $29.6
million from $25.3 million.


Read more at Bloomberg Stocks News

PPG second-quarter earnings slip

(Reuters) - The latest results included an after-tax charge of $6
million, or 3 cents a share, the company said.





Read more at Reuters.com Market News

Cypress Semi quarterly profit rises sharply

(Reuters) - The latest results were boosted by a gain from the sale of
7.5 million SunPower shares.




Excluding special items, profit was 16 cents a share. On
that basis, analysts' average forecast was 15 cents a share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Euro gains reflect econ growth, US market fears-EU

(Reuters) - Pressed for further comment, rather than stating facts, he
said:




"It is indeed a fact, and it is something that is noted, but
the commissioner responsible for this area doesn't wish to
convey more than this for the moment, also because the whole
issue of the euro and exchange rates is something for the ECB
as we all know," he said.


Read more at Reuters.com Bonds News

Algeco parent to buy Williams Scotsman

(Reuters) - It said Gerry Holthaus, currently chairman and chief
executive of Williams Scotsman, is expected to remain CEO and
become chairman and CEO of Ristretto, Algeco's parent company.





Read more at Reuters.com Mergers News

Futures rise before wave of earnings, IBM gains

(Reuters) - Shares of International Business Machines Corp. rose in extended-hours trading on Wednesday after the world's largest computer services company reported earnings that beat Wall Street expectations.




"IBM shows the weak dollar is having a very positive effect on some multinational companies. Their overseas revenues are really helping the bottom line very strongly. That's the bullish part of the day," said Rick Meckler, president of investment firm LibertyView Capital Management in Hoboken, New Jersey.


Read more at Reuters.com Business News

VF Corp posts lower Q2 profit on discontinued ops

(Reuters) - The maker of Wrangler jeans and Nautica sports wear said quarterly net income fell to $81.7 million, or 72 cents a share, from $99 million, or 88 cents a share, a year ago.



Revenue rose to $1.52 billion from $1.35 billion in the year-ago quarter.


Read more at Reuters.com Market News

SunTrust quarterly profit rises on one-time gain

(Reuters) - The results included a $145.6 million after-tax gain on the
sale of 4.5 million shares of Coke, or 9 percent of the bank's
Coke holdings.





Read more at Reuters.com Market News

British Energy Says Hunterston Nuclear Reactor Halt to Last for Two Weeks

(Bloomberg) -- British Energy Group Plc, the U.K.'s
biggest electricity producer, said a reactor halt at its
Hunterston plant will last about two weeks.

The company's Hunterston B-8 reactor stopped on July 13,
according to a Web site run by National Grid Plc., the operator
of the U.K.'s power grid.


Read more at Bloomberg Energy News

Paragon Shipping files for $201.3 mln IPO

(Reuters) - The filing did not reveal how many shares the company
planned to sell or their expected price. The company intends to
apply for listing Class A Common Shares on the Nasdaq under the
symbol "PRGN."





Read more at Reuters.com Government Filings News

SABMiller S.African bond three times oversubscribed

(Reuters) - Brewer SABMiller's 1.6 billion rand local bond was launched on Thursday and was three times oversubscribed, Rand Merchant Bank (RMB) said.

SABMiller issued a 5-year bond to repay part of existing loans used to fund its South African business.


Read more at Reuters Africa

UnitedHealth posts higher quarterly profit

(Reuters) - The Minneapolis-based company, the No. 1 U.S. health
insurer by market value, has largely emerged from a
stock-option scandal that plagued it last year. But operational
missteps -- including cuts to its Medicare forecasts and
worrisome medical cost trends -- have spooked investors.




Shares of UnitedHealth have fallen slightly in 2007,
underperforming a more than 7 percent rise for the S&P Managed
Health Care index , a barometer of large U.S. health
plans.


Read more at Reuters.com Market News

Dollar Trades Near Record Low Against Euro Before U.S. Economic Reports

(Bloomberg) -- The dollar traded near a record low
against the euro before U.S. reports that are forecast to show
manufacturing is slowing and the economic outlook is worsening.

The dollar weakened against nine of the 10 most-actively
traded currencies before Federal Reserve Chairman Ben S.
Bernanke's second day of testimony on the economy to Congress.
The U.S. currency declined yesterday after the Fed trimmed
growth forecasts for this year and next, and Bernanke predicted
home sales would be ``sluggish for a time.''


Read more at Bloomberg Currencies News

Logitech quarterly profit falls 15 percent

(Reuters) - The year-earlier quarter's results were boosted by an after-tax gain of $5.8 million from its sale of shares of Anoto Group AB.




By 0730 GMT, shares in the group, which have already lost some 3 percent so far this year, had fallen 4.1 percent to 32.75 Swiss francs.


Read more at Reuters.com Hot Stocks News

Paris Club agrees to early debt payment from Gabon

(Reuters) - The Paris Club of creditor countries said on Thursday it had agreed in principle to accept an early debt repayment offered by oil-rich Gabon.

The Paris Club said the offer would apply to debt not granted under Official Development Assistance that had been rescheduled by the Paris Club in 1994, 1995, 2000 and 2004 and the sum eligible for early repayment was $2.182 billion.


Read more at Reuters Africa

European Bonds Decline After Subprime Concerns Wane, Equities Rebound

(Bloomberg) -- European bonds declined as waning
concern about defaults on U.S. subprime mortgages prompted
investors to seek higher yields on riskier assets such as stocks
and emerging market debt.

Benchmark 10-year debt fell, pushing yields up from a week
low, as shares in Asia recovered following a Chinese report that
showed the economy grew at the fastest pace in 12 years. Stock
index futures in Europe were higher and the risk of owning
corporate bonds fell for the first day in three.


Read more at Bloomberg Bonds News

SAfrica Vodacom Q1 customers up 7.5 pct on qtr

(Reuters) - JOHANNESBURG, July 19 - South African mobile phone operator Vodacom increased its total customer base by 7.5 percent to 32.4 million in the quarter to end-June, co-owner Telkom said on Thursday.



Vodacom's revenue in its financial first quarter rose 18.6 percent while its total customers increased 28.4 percent from the same period a year ago. Vodacom is jointly owned by Telkom and Vodafone Plc .


Read more at Reuters.com Market News

ADP, Eramet, Legrand, Remy Cointreau and Renault: French Equity Preview

(Bloomberg) -- The following stocks may rise or
fall on the Paris stock exchange. Symbols are in parentheses
after company names. Prices are from the last close.

July futures on the CAC 40 Index advanced 40.5 to 6037 at
8:12 a.m. in Paris.


Read more at Bloomberg Stocks News