AngloGold Q2 adjusted EPS down 17 pct, CEO to retire

(Reuters) - South Africa's AngloGold Ashanti Ltd posted a 17 percent fall in second quarter adjusted headline earnings per share on Tuesday, below market expectations, and said Chief Executive Bobby Godsell would retire.

AngloGold, the world's third biggest gold producer, said adjusted headline EPS, excluding non-realised financial effects from derivatives, dropped to 29 U.S. cents from 35 cents the previous quarter.


Read more at Reuters Africa

UPDATE 1-Hitachi posts smaller Q1 loss, keeps outlook

(Reuters) - Hitachi, which competes with Toshiba Corp.'s
Westinghouse in nuclear reactors and with Seagate Technology
in hard drives, plans to cut costs and seek new demand
for ecologically friendly power plants as sales remain slow in
its core electronics businesses.




Net loss at Japan's biggest maker of industrial electronics
totalled 13.62 billion yen in April-June,
compared with a loss of 22.04 billion year the previous year.


Read more at Reuters.com Market News

Sun Microsystems and CB Richard Advance in After-Hours Trading in the U.S

(Bloomberg) -- Sun Microsystems Inc. gained in
extended U.S. trading after the world's fourth-largest maker of
server computers reported more profit than analysts estimated.

Shares of Santa Clara, California-based Sun jumped 50 cents,
or 10 percent, to $5.39 as of 6:40 p.m. in New York. Fourth-
quarter earnings were 9 cents a share, compared with the average
analyst estimate of 5 cents in a Bloomberg survey.


Read more at Bloomberg Stocks News

UPDATE 1-Mitsubishi Q1 profit dips 7.3 pct on coal

(Reuters) - Other top trading companies besides Mitsubishi are expected
to ring up record profits this business year as oil and metal
prices are seen staying above their conservative assumed prices,
while profits are expanding in non-energy businesses such as
power generation, infrastructure projects and auto sales.




Mitsubishi, a big supplier of coking coal used in steel
production, copper and liquid natural gas on the world
market, said its group net profit came to 115.3 billion yen
in the April-June first quarter.


Read more at Reuters.com Market News

Whole Foods to court to defend Wild Oats takeover

(Reuters) - Lawyers for the two companies will square off against the
Federal Trade Commission, which is asking U.S. District Judge
Paul Friedman to block the deal on the grounds it would hurt
competition in the organic grocery market.




Antitrust experts say much may depend on the words of Whole
Foods' own chief executive, who told his board in e-mails that
the deal was designed to avert price wars with Wild Oats and
head off competition with mainstream supermarkets.


Read more at Reuters.com Government Filings News

Tangshan Plans to Sell $396 Million of Bonds to Make Steel Sheets for Cars

(Bloomberg) -- Tangshan Iron & Steel Co., the
publicly traded unit of China's second-biggest steelmaker, said
it plans to sell bonds to fund the production of cold-rolled
steel sheets used in vehicles. Tangshan shares rose to a record.

The company plans to sell up to 3 billion yuan ($396.3
million) of five-year bonds that can be converted into shares,
paying interest of between 0.5 percent to 2 percent to local
investors, Tangshan Iron said today in a statement to the
Shenzhen Stock Exchange, without saying when the sale will occur.


Read more at Bloomberg Emerging Markets News

Asia stocks rise on U.S., easing credit fears

(Reuters) - U.S. shares recovered on Monday after ratings agency Standard & Poor's upgraded Morgan Stanley's debt, and a hedge fund steeped in subprime mortgage market losses was bailed out.




But investors remained cautious that ongoing U.S. subprime mortgage market woes could still spread to wider credit markets after U.S. shares had just suffered their worst week in nearly five years.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Greenspan group presses case to buy Dow Jones stake

(Reuters) - A source familiar with the matter said the five possible
investors are Intel Corp's , Intel Capital, Apex
Partners, Jana Partners, a unit of Softbank Corp and
Trafelet.




Former Dow Jones board member Dieter von Holtzbrinck, who
resigned from the board in protest of Murdoch's bid, could also
be interested in investing in Greenspan's offer, the source
said.


Read more at Reuters.com Mergers News

Treasuries Set for Biggest Monthly Gain Since February on Flight to Safety

(Bloomberg) -- Treasuries headed for their biggest
monthly gain since February as a worldwide slump in stocks and
corporate bonds sent investors flocking to the relative safety of
government debt.

The Treasury rally picked up in the middle of July when
losses in mortgage-linked bonds at hedge funds run by Bear
Stearns Cos. led fund managers to dump holdings of riskier assets.
A government report today may show consumer spending increased at
the slowest pace in nine months in June.


Read more at Bloomberg Bonds News

South Korea's Kospi Index Is Little Changed; Doosan Gains, Kookmin Drops

(Bloomberg) -- South Korea's Kospi index swung
between gains and losses. Doosan Infracore Co. rose after
Hyundai Securities Co. said the $4.9 billion acquisition of an
Ingersoll-Rand Co. unit will help the company expand into
developed markets.

Kookmin Bank declined after second-quarter profit missed
analysts' estimates and profitability fell.


Read more at Bloomberg Stocks News

Japan's Topix Climbs, Nikkei Average Is Little Changed; Komatsu Advances

(Bloomberg) -- Japan's Topix index advanced, led by
companies such as Komatsu Ltd. that reported rising profits in
the first quarter.

Komatsu advanced after the world's second-largest maker of
construction machinery said net income increased 65 percent from
a year earlier and boosted its full-year profit forecast. Olympus
Corp. was poised to rise after it said profit doubled and boosted
its full-year estimate.


Read more at Bloomberg Stocks News

FBI searches home of Alaska Sen. Stevens

(Reuters) - The Alaskan politician, the longest-serving Republican in
the U.S Senate in history, issued a statement saying: "My
attorneys were advised this morning that federal agents wished
to search my home in Girdwood in connection with an ongoing
investigation.




"I continue to believe this investigation should proceed to
its conclusion without any appearance that I have attempted to
influence the outcome," the statement said.


Read more at Reuters.com Bonds News

Polish TPSA 2nd-qtr sales fall, lowers year outlook

(Reuters) - "Work will continue to ... match the size of investment
expenditures related to revenues to typical European levels for
the telecommunications sector," TPSA said in its three-year
strategy.




The former Polish monopolist reported a second-quarter net
profit of 495 million zlotys versus 571 million a year ago and
558.5 million zlotys average forecast in a Reuters poll of 12
analysts. Revenue was seen at 4.53 billion zlotys.


Read more at Reuters.com Market News

Yen Falls Against Euro as Rally in U.S. Stocks Spurs Carry Trade Demand

(Bloomberg) -- The yen fell for a second day
against the euro as a rebound in U.S. stocks restored investors'
confidence to buy higher-yielding assets funded by loans in
Japan.

Japan's currency dropped the most against the New Zealand
and Australian dollars, favorites of the so-called carry trade,
as U.S. stocks recovered from the worst two-day slide since 2003.
The yen has gained against all 16 of the most-traded currencies
this month on concern over subprime losses and credit risks.


Read more at Bloomberg Currencies News

Pitney Bowes posts profit, US equipment sales rise

(Reuters) - NEW YORK, July 30 - Pitney Bowes Inc. , the top U.S. supplier of postage meters and mailing machines, reported on Monday a quarterly profit and 11 percent revenue growth on demand sparked by a change in U.S. mail regulations.



The company, whose mailing meters are a fixture in corporate offices, said second-quarter net income was $152.2 million, or 68 cents a share, compared with a net loss of $356.1 million, or $1.59 per share, a year earlier.


Read more at Reuters.com Market News

Argentina stocks, bonds bounce back after slide

(Reuters) - Government bonds on the local market rose 2.0 percent on
average, with prices varying depending on the markets in which
they were traded.




"With global markets calmer and bond prices
very attractive, investors are going back to bidding on the
market again," said one trader, who added that the gains were
indicative only of a recovery, not a trend shift.


Read more at Reuters.com Bonds News

Paragon Shipping sets IPO at 10.3 mln shrs, $16-$18

(Reuters) - UBS Investment Bank, Morgan Stanley, Cantor Fitzgerald &
Co. and Dahlman Rose & Company will underwrite the IPO,




The company is seeking a Nasdaq listing under the symbol
"PRGN" .


Read more at Reuters.com Bonds News

UPDATE 2-Cedar Fair denies story about takeover talks

(Reuters) - Cedar Fair, which owns 12 amusement parks including Knott's
Berry Farm near Los Angeles and Cedar Point in Ohio, said it
was not in talks with "an organization referred to as 'Destiny
Capital.'" It also denied ever being contacted by the News
Corp. tabloid.




"We have never at any point in time been contacted by the
New York Post for a comment for this article," Cedar Fair
spokeswoman Stacy Frole said.


Read more at Reuters.com Mergers News

UPDATE 1-Insurer Principal Financial posts higher earnings

(Reuters) - Net earnings increased to $303.8 million, or $1.12 a share,
from $210.5 million, or 76 cents a share, in the year-earlier
quarter.




Operating earnings, which analysts use to measure
performance because it excludes investments, were $282.9
million, or $1.05 a share.


Read more at Reuters.com Market News

Director buys $1 million of Marriott stock

(Reuters) - Small, who was once president and chief operating officer of Fannie Mae , has served as a Marriott director since 1995, according to the company' Web site.




Small's buy represented a switch in a pattern of insider selling at the company, according to filing tracking Web site InsiderScore.com.


Read more at Reuters.com Hot Stocks News

UPDATE 3-U.S. foreclosures jump, trending higher-RealtyTrac

(Reuters) - Foreclosure filings in the first half spiked from the same
period last year to 925,986 as many overstretched borrowers
have been caught between rising interest rates and falling home
prices. The Federal Reserve has cited the faltering housing
market as the biggest risk to economic growth.




The foreclosure filings were also up more than 30 percent
from the previous six-month period, at a rate of one filing for
every 134 U.S. households, said RealtyTrac, an online
marketplace for foreclosure properties.


Read more at Reuters.com Economic News

UPDATE 1-US Treasury raises quarterly borrowing estimate

(Reuters) - "The increase in borrowing is primarily the result of
higher outlays, lower net issuance of state and local
government series securities and adjustments in quarterly cash
balances," Treasury said in an announcement of its anticipated
borrowing needs.




During the April-June second quarter, Treasury said it paid
down $139 billion, finishing on June 30 with a cash balance of
$25 billion. That was $6 billion less than Treasury estimated
in April that it would pay down -- a difference it said was
"primarily the result of slightly lower receipts."


Read more at Reuters.com Bonds News

Cotton Futures Rise on Speculation U.S. Farmers May Further Cut Acreage

(Bloomberg) -- Cotton rose to a one-week high in New
York on speculation farmers will switch acres to other crops
because of concern a World Trade Organization ruling may threaten
U.S. subsidies for growers of the fiber.

The WTO ruled last week the U.S. failed to overhaul its
subsidies to growers sufficiently to comply with trade rules, the
U.S. Trade Representative's office and Brazil said. U.S. farmers
cut cotton acreage by 28 percent this year from 2006, with many
switching to corn after it rallied to a 10-year high in February.


Read more at Bloomberg Commodities News

UPDATE 2-ValueClick Q2 profit misses Street, cuts '07 view

(Reuters) - Shares of the company fell more than 22 percent to $20.22
in afternoon trade on the Nasdaq.




In May, ValueClick said the U.S. Federal Trade Commission
was looking into a few of its Web sites that promise
consumers a free gift of substantial value, and the manner in
which it drives traffic to such Web sites.


Read more at Reuters.com Market News

GMAC profit falls 63 pct as home loans weigh

(Reuters) - The company's Residential Capital LLC unit posted a net loss of $254 million, compared with a profit of $548 million a year earlier, hurt by what GMAC called "severe illiquidity" in the market for subprime mortgages.




The loss, however, was 72 percent smaller than the first quarter's $910 million. Excluding ResCap, profit at GMAC more than doubled.


Read more at Reuters.com Hot Stocks News

Cambrex sees Q2 charge of $4.4 mln to discontinued ops

(Reuters) - Rutherford agreed to pay Cambrex about $813,000 for
reimbursement of certain tax refunds received from United
Kingdom taxing authorities, Cambrex added.





Read more at Reuters.com Government Filings News

UPDATE 3-Verizon quarterly net rises but margins disappoint

(Reuters) - NEW YORK, July 30 - Verizon Communications Inc. said on Monday its second-quarter profit rose, helped by growth in wireless and high-speed Internet subscribers.



The No. 2 U.S. phone company said net profit rose 4.5 percent to $1.68 billion, or 58 cents per share, from $1.61 billion, or 55 cents per share, a year earlier.


Read more at Reuters.com Mergers News

Jarden Corp. profit rises; shares fall on view

(Reuters) - NEW YORK, July 30 - Jarden Corp. said on Monday its second-quarter profit rose on higher sales, but gave a cautious outlook for the rest of the year citing weaker consumer spending, sending shares down nearly 7 percent.



While Jarden did not lower any of its specific outlook numbers, it was going to be "somewhat cautious" for the rest of the year and not"... overly aggressive on inventory positions and things like that," Chief Executive Martin Franklin said in a conference call.


Read more at Reuters.com Market News

Endo investor - Evaluate all options before diversification

(Reuters) - Endo's lead product Lidoderm, a pain patch, accounted for
more than 60 percent of the company's net sales in 2006.




The investor group also raised concerns about the company's
capital structure and cash position. It stated that Endo's
decision to hold cash in its balance sheet while evaluating
options was affecting the company's value.


Read more at Reuters.com Government Filings News

Caja Madrid buys Repsol tower for 815 mln euros

(Reuters) - It is one of four towers being built on the former training
grounds of Real Madrid football club which now dominate the
northern skyline of the Spanish capital.




Repsol plans to relocate to a new, campus-style headquarters
in the south of the city from several offices around Madrid.


Read more at Reuters.com Mergers News

Importers help push rand weaker

(Reuters) - South Africa's rand weakened to a new one-month low against the dollar on Monday, pushed down mostly by heightened importer demand during the morning session, traders said.

At 1520 GMT the domestic unit was trading at 7.1475 versus the dollar, down 0.5 percent from Friday's New York close of 7.1125, but well off the session's softest level of 7.1999 -- its weakest mark since June 27, according to Reuters data.


Read more at Reuters Africa

Nymex Gas Rises on Forecast for Warmer-Than-Normal Weather in Much of U.S.

(Bloomberg) -- Natural gas in New York rose on
forecasts that above-normal temperatures in the U.S. Midwest and
Northeast may stretch out into mid August, boosting demand for
electricity to power air conditioners.

The northern two-thirds of the nation, including such cities
as Chicago and New York, will have temperatures as much as 7
degrees above normal this week, according to forecaster MDA
Federal Inc.'s Earthsat Energy Weather.


Read more at Bloomberg Energy News

Humana quarterly revenue rises 19 percent

(Reuters) - Second-quarter revenue increased to $6.43 billion from $5.41 billion.




Net income rose to $216.8 million, or $1.28 per share, compared with $89.5 million, or 53 cents a share, a year earlier.


Read more at Reuters.com Business News

Yen climbs as risk aversion stays elevated

(Reuters) - The yen rallied against most currencies in volatile trade on Monday as concerns about the U.S. mortgage market sparked investors to unwind risky bets such as carry trades funded by the Japanese currency.

Fears that turmoil in the U.S. subprime sector have spilled over into the wider credit markets prompted traders to close carry trades, in which low-yielding currencies were used to buy high-yielding assets. The U.S. and New Zealand dollars slipped as a result.


Read more at Reuters Africa

Merrill to track energy efficient stocks

(Reuters) - The launch of such indicies for investors reflects the worry that many companies will be hurt by climate change, such as more extreme weather, or by policies intended to prevent this, such as tough caps on greenhouse gas emissions.



Indicies are meant to identify companies that will be hurt least by or even profit from climate change and such regulations.


Read more at Reuters.com Bonds News

Topps Co. top shareholder seeks AGM by Sept. 25

(Reuters) - In March, Topps agreed to be acquired by private equity
firm Madison Dearborn Partners LLC and Tornante Company LLC,
run by former Walt Disney Co. chief Michael Eisner, for
$9.75 per share in cash. Since then, Topps board has rejected a
hostile bid worth $10.75 a share from Upper Deck Co.





Read more at Reuters.com Mergers News

Emerging-Market Bonds Fall on Subprime Lending Concerns, Risk Aversion

(Bloomberg) -- Emerging-market bonds fell, led by
Ecuadorean debt, as investors pared holdings of riskier assets
amid growing concern about losses from subprime mortgages.

The extra yield that investors demand to hold developing
nation debt surged to an almost one-year high last week amid a
global rout in high-risk securities.


Read more at Bloomberg Emerging Markets News

UPDATE1-Industrial Distribution forms panel for strategic review

(Reuters) - Second-quarter revenue is expected to be $132.6 million.




The company said internal process challenges related to its
recent IT system conversion continued to hurt its customer
service and sales.


Read more at Reuters.com Mergers News

UPDATE 1-Carolina Group 2nd-quarter profit rises 21 pct

(Reuters) - Carolina Group , which tracks the operations of
Lorillard Inc., posted a profit of $227.1 million, up from
$187.2 million a year earlier.




After deducting profit attributable to parent Loews,
earnings were $1.30 per share, up from $1.09 a year earlier.
Analysts were expecting $1.29 per share, according to Reuters
Estimates.


Read more at Reuters.com Market News

TREASURIES-Gains erased as stock futures turn positive

(Reuters) - NEW YORK, July 30 - U.S. Treasury debt prices
erased their early gains when stock index futures shifted gears
and began pointing to a higher open on Wall Street on Monday.




Bond prices have been moving in the opposite direction to
stocks on almost a minute-by-minute basis -- when stocks
weaken, fearful investors turn to the relative safety of bonds
and when stocks show signs of life, bonds retreat.


Read more at Reuters.com Bonds News

Wrigley 2nd-quarter profit rises

(Reuters) - Excluding costs for restructuring the company's supply
chain, earnings were 62 cents a share. Analysts on average had
forecast 59 cents a share, according to Reuters Estimates.





Read more at Reuters.com Market News

FTSE 100 Stocks Decrease, Led by 3i, Man Group, Vodafone; HSBC Shares Gain

(Bloomberg) -- U.K. stocks declined, led by 3i Group
Plc, Europe's biggest publicly traded buyout and venture-capital
firm, and Man Group Plc, the world's largest listed hedge fund
manager.

Vodafone Group Plc, the world's biggest mobile-phone
company, slid to a two-month low. HSBC Holdings Plc advanced
after the fourth-largest bank reported profit that topped
analysts' estimates.


Read more at Bloomberg Stocks News

Wall St. set to fall on credit jitters

(Reuters) - In the latest sign of problems in the home lending market, American Home Mortgage Investment Corp. said its banks were demanding that it put up more cash after the mortgage lender was forced to write down the value of its mortgage and security portfolios. The shares fell 25 percent before the opening bell.




U.S. equities suffered their worst week in nearly five years last week on concern that tightening lending standards could hurt corporate buy-outs and stock buybacks that have fueled a spring rally in equities.


Read more at Reuters.com Business News

UPDATE 1-Rising liquidity helps boost Audi H1 net profit

(Reuters) - FRANKFURT, July 30 - First-half net profit at
Volkswagen's premium unit, Audi , rose 67
percent to 679 million euros , the maker of the
TT sports coupe and Q7 luxury SUV said on Monday.




The gain in bottom-line earnings, exceeding the already
reported 40 percent increase in operating profit, was helped
mainly by interest income from the investment of rising net
liquidity, coupled with higher income from the valuation of
commodity futures, it said.


Read more at Reuters.com Market News

Indonesia's Telkom Q2 net up 50 pct on mobile unit

(Reuters) - By Harry Suhartono



JAKARTA, July 30 - Indonesia's largest telecommunications company, PT Telekomunikasi Indonesia Tbk , posted a better-than-expected 50 percent rise in its second quarter net profit, led by strong growth in its mobile phone business.


Read more at Reuters.com Market News

U.S. Stock-Index Futures Rise; Shares of Alcoa, General Motors Advance

(Bloomberg) -- U.S. stock-index futures advanced
as investors speculated the biggest weekly sell-off in more
than four years was excessive.

Alcoa Inc., the world's second-largest aluminum company,
and General Motors Corp. rose in Europe after their shares lost
more than 10 percent in the previous five days. Verizon
Communications Inc., the second-largest U.S. phone company, may
be active before an earnings report.


Read more at Bloomberg Stocks News

US STOCKS-Futures turn negative, point to weaker open

(Reuters) - Dow Jones industrial average futures lost 26 points,
and Nasdaq 100 futures were down 4.5 points.




Read more at Reuters.com Bonds News

German Benchmark Stocks Including Linde, Henkel Advance; IKB Plummets

(Bloomberg) -- German stocks including Linde AG
climbed after reporting earnings that beat analysts' estimates.
Volkswagen AG gained after analysts raised their price estimates
on the stock.

IKB Deutsche Industriebank AG tumbled after the lender that
invested in U.S. subprime mortgages cut its profit forecast,
pushing banking stocks lower.


Read more at Bloomberg Stocks News

Corporate Bond Risk Surges as Germany's IKB Reports Subprime-Loan Losses

(Bloomberg) -- The risk of owning European
corporate bonds soared to the highest in at least three years
after Germany's IKB Deutsche Industriebank AG reported losses on
U.S. subprime mortgages, credit-default swap prices show.

Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 34,000 euros to 478,000 euros at 10:35 a.m.
in London, according to JPMorgan Chase & Co. Credit-default
swaps are used to speculate on the ability of companies to repay
debt and an increase indicates worsening perceptions of credit
quality.


Read more at Bloomberg Bonds News

Pound Resumes Rally Against Dollar on View Interest Rates to Rise Further

(Bloomberg) -- The pound resumed its rally against
the dollar today on expectations the Bank of England will raise
interest rates further this year to curb inflation.

The U.K. currency rose after the Centre for Economic and
Business Research yesterday said Britain's flood crisis could
force inflation to quicken to a decade-high, rather than decline
as forecast by the BOE. Policy makers will raise borrowing costs
to 6 percent by year-end after holding them at 5.75 percent at
their Aug. 2 meeting, Bloomberg News surveys predict.


Read more at Bloomberg Currencies News

Platinum Climbs on Speculation Recent Drop Was Overdone; Palladium Falls

(Bloomberg) -- Platinum rose in London on
speculation that last week's plunge was overdone, given the
demand from European carmakers for catalysts to reduce pollution.
Palladium fell.

Platinum declined 3.9 percent last week, the biggest drop in
nine months, after Japan's Nissan Motor Co. announced a gasoline-
powered catalyst that uses half the platinum, palladium and
rhodium in existing technology. Platinum catalyst demand in
Europe was three times bigger than Japan's last year, according
to London-based catalyst manufacturer Johnson Matthey Plc.


Read more at Bloomberg Commodities News

Taiwan's Government Bonds Decline on Inflation Concerns; Currency Advances

(Bloomberg) -- Taiwan's government bonds declined
on speculation an increase in crude oil prices will spur
inflation. The currency advanced.

Ten-year notes ended a three-day gain after oil rose to the
highest in almost a year in New York last week as a government
report showed the U.S. economy, the world's biggest consumer,
grew faster than expected last quarter. Inflation erodes the
purchasing power of the fixed-income payments from debt.


Read more at Bloomberg Bonds News

CEDC to buy Polish alcohol distributor, raises outlook

(Reuters) - It now expects to post 2007 profit per share of $1.57 to
$1.73, a cent higher than its previous forecast range.




It increased its forecast for 2008 net sales to $1.26
billion to $1.36 billion, from $1.2 billion to $1.3 billion, and
its profit per share forecast for that year by 3 cents to $2.03
to $2.13.



Read more at Reuters.com Mergers News

Yen Declines From Three-Month High Against Euro as Japanese Stocks Rebound

(Bloomberg) -- The yen fell from a three-month high
against the euro as a recovery in Japanese stock prices eased
concern traders will reduce investments in riskier assets funded
by loans in the currency.

``The rebound in Asian stocks is helping to restore some
risk appetite,'' said Lee Wai Tuck, currency strategist at
Forecast Singapore Ltd. ``This is causing some yen selling.''


Read more at Bloomberg Currencies News

European stocks tick up in early trade; miners help

(Reuters) - European stocks rose in early trade on Monday as gains in miners and chemicals group ICI offset fears over the impact of a credit crunch on liquidity and mergers and acquisitions.

BHP Billiton gained 2.1 percent and Rio Tinto rose 1.5 percent, helped by gains in Australian trading.


Read more at Reuters Africa

China Tells Some Local Governments to Hold Prices for the Rest of the Year

(Bloomberg) -- China's top planning agency told
local governments in some regions to refrain from raising prices
for the rest of the year, seeking to curb inflation that rose to
a 33-month high in June.

The directive is for places where consumer-price gains
breached local targets by a ``relatively large margin,'' the
National Development and Reform Commission said in a statement
on its Web site today. Price increases connected with energy-
efficiency policies are exempt, the agency said.


Read more at Bloomberg Emerging Markets News

Yen Erases Rally Against Euro, Dollar After Japanese Stocks Stage Rebound

(Bloomberg) -- The yen erased gains as a rebound in
Japanese stock prices stopped investors from reducing holdings
funded by loans in the Japanese currency.

The Japanese yen had risen to a three-month high against the
euro as a slump in global stocks caused traders to pare so-called
carry trades. It also retreated from a two-month high against
both the Australian and New Zealand dollars.


Read more at Bloomberg Currencies News