Soybean, Corn Futures Rise After Forecasts for Dry Weather, Lower Yields

(Bloomberg) -- Soybean and corn futures rose in
Chicago on forecasts for hot, dry weather in Iowa and Illinois,
the U.S.'s two biggest growing states, and a prediction corn
yields will fall.

Forecasters in Europe and the U.S. expect a subtropical
weather system to move into the eastern Midwest next week,
Woburn, Massachusetts-based Meteorlogix LLC said. A European
model predicts the system will bring hotter, drier weather. The
American model shows rains only in the northern Great Plains.


Read more at Bloomberg Commodities News

Wall St Week Ahead: Subprime worries to spur more volatility

(Reuters) - Widening fallout from the U.S. housing slump has rattled
credit markets, putting investors on edge about the outlook
for corporate takeovers and share buybacks -- two catalysts of
the market's recent rally to record highs.




On Friday, Standard & Poor's cut its ratings outlook on
the debt of investment bank Bear Stearns Cos., fanning
concern that troubles in the subprime mortgage market are
spreading, which could threaten the economy's health.


Read more at Reuters.com Economic News

Tenaris 2nd-quarter net profit rises 8 pct yr/yr

(Reuters) - Luxembourg-based Tenaris is
controlled by Argentine conglomerate Techint, and its shares
are listed in Buenos Aires, Milan and New York.




Read more at Reuters.com Market News

RPT-TREASURIES-Bonds rally on stock rout, subprime fears

(Reuters) - By Richard Leong




NEW YORK, Aug 3 - The U.S. Treasury debt market
rallied on Friday with benchmark 10-year yields falling to
their lowest levels since May, as subprime fears drove
investors from stocks into bonds and other low-risk assets.


Read more at Reuters.com Bonds News

Barclays, ABN advisers' fees seen at 311 mln stg

(Reuters) - LONDON, Aug 3 - British bank Barclays and ABN AMRO will spend about 311 million pounds in fees to advisers and other parties if the British bank's takeover of ABN goes ahead, a regulatory filing showed.



In a filing to U.S. regulator the Securities and Exchange Commission late on Friday, Barclays also said its shareholders will be asked to vote on the deal on September 14.


Read more at Reuters.com Mergers News

U.S. issues new botulism warning for green beans

(Reuters) - The FDA said the beans may not have been processed adequately to eliminate the potential for botulinum toxin, which can cause a life-threatening illness.




"The canned green beans may cause botulism if consumed. FDA is providing this warning to make consumers aware of the possible risk of serious illness from eating these products," an FDA statement said.


Read more at Reuters.com Government Filings News

Eight Atlantic hurricanes expected in '07: Storm team

(Reuters) - Of those, four would grow into major hurricanes of Category 3 or higher with winds over 110 mph , the team founded by forecast pioneer William Gray said in its revised forecast.




The updated forecast was lower than the team's May 31 forecast for the six-month storm season that runs through November 30, which had predicted 17 tropical storms, nine hurricanes and five major hurricanes.


Read more at Reuters.com Bonds News

Bush signs bill to strengthen anti-terror effort

(Reuters) - "There is still other work to be done," Bush said as he signed the legislation.




He cited the need to reform the "dysfunctional" way Congress oversees intelligence and counter-terrorism activities and the urgent need to expand the government's powers to eavesdrop on telephone calls and e-mail from abroad.


Read more at Reuters.com Bonds News

GLOBAL MARKETS-Credit fears bruise dollar, stocks; bonds rise

(Reuters) - NEW YORK, Aug 3 - Renewed concerns over credit
liquidity and unexpectedly weak economic data hurt U.S. stocks
and the dollar, while safe-haven government bonds climbed on
Friday.




Tighter credit access worries resurfaced after Standard &
Poor's changed Wall Street investment bank Bear Stearns'
ratings outlook, to "negative" from "stable."


Read more at Reuters.com Bonds News

UPDATE 1-Agrium files shelf prospectus for $1 bln

(Reuters) - Calgary, Alberta-based Agrium said the filings would give
it the means to reduce debt and expand through acquisitions and
investments.




Agrium, which has become the top U.S. retailer of crop
supplies as measured by direct sales to farmers, has said it
wants to expand that business and double its $2 billion in
retail revenue in the next three to five years.


Read more at Reuters.com Bonds News

REFILE-UPDATE 1-Blaming begins in Minneapolis bridge collapse

(Reuters) - By Todd Melby




MINNEAPOLIS, Aug 3 - Politicians trying to
account for one of the worst bridge collapses in U.S. history
cast blame ranging from engineering faults to the Iraq war on
Friday, while divers tried to reach the bodies of more victims
in the Mississippi River's treacherous waters.


Read more at Reuters.com Bonds News

Orient Overseas, Samsung Electronics, Wipro: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan, on Aug. 6. This preview
includes news that broke after markets closed. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.

Auto companies: General Motors Corp. (GM US) is seeking
investment opportunities in Malaysia and Indonesia, the Wall
Street Journal reported, citing Stephen Carlisle, GM's president
for Thailand and Southeast Asia. Malaysia, Indonesia and Thailand
are among the 11 markets designated by GM for priority
development, the Journal added.


Read more at Bloomberg Stocks News

Silver Wheaton profit dips on production slip

(Reuters) - Silver Wheaton, which buys the silver produced by several
miners, also reduced its 2007 forecast for silver sales of
about 13 million ounces, down from an April estimate of 15
million ounces.




It maintained its estimate of 2009 silver sales of 23
million ounces, and 2012 sales of 28 million ounces.


Read more at Reuters.com Market News

U.K. Pound Posts Weekly Gain Against Yen, Dollar as Carry Trade Resumes

(Bloomberg) -- The pound posted its biggest weekly
gain since June against the yen as credit markets rebounded,
prompting investors to restart so-called carry trades.

The pound also had a weekly gain against the dollar as
traders bought high-yielding currencies with loans from Japan and
on expectations the Bank of England will raise interest rates at
least once more from 5.75 percent by year-end.


Read more at Bloomberg Currencies News

CheckFree posts lower Q4 net income

(Reuters) - Excluding certain items, underlying net income for the
quarter was $48.1 million, or 53 cents a share, compared with
$36.6 million, or 39 cents a share, a year ago. Total revenue
rose to $276.7 million from $224.9 million.





Read more at Reuters.com Mergers News

European Bonds Snap Three Weeks of Gains After ECB Signals Higher Rates

(Bloomberg) -- European government bonds snapped
three weeks of gains after the European Central Bank indicated
it will raise interest rates further this year.

ECB President Jean-Claude Trichet signaled rates may rise
from a six-year high of 4 percent as early as September, saying
``strong vigilance'' is needed to guard against price pressures.
Policy makers used the phrase a month before each of the ECB's
eight rate increases since late 2005. Trichet was speaking after
the bank kept borrowing costs unchanged yesterday, as forecast.


Read more at Bloomberg Bonds News

SABMiller $89 mln deal adds to Polish beer brands

(Reuters) - SABMiller, whose beers include Miller, Peroni and Castle, said the acquisition would help it keep pace with growing demand for its Polish subsidiary's beer adding that the deal was subject to approval from Polish competition authorities.



Browar Belgia brews Wojak, Gingers and Frater beers and has annual production capacity of more than 1 million hectolitres at its brewery in south east Poland.


Read more at Reuters.com Mergers News

Telemig, Amazonia shares up in Brazil on Vivo deal

(Reuters) - SAO PAULO, Aug 3 - Shares of Brazilian mobile phone companies Telemig Celular and Amazonia Celular rallied on Friday, a day after the companies agreed to be sold to the country's leading wireless operator, Vivo Participacoes.



Telemig's non-voting shares jumped 3.18 percent to 5.51 reais, while Amazonia's shares climbed 3.45 percent to 0.60 reais, outperforming a 0.79 drop by the benchmark Bovespa index in Sao Paulo.


Read more at Reuters.com Mergers News

Plusses seen in end of Boston Scientific unit sale

(Reuters) - By Debra Sherman



CHICAGO, Aug 3 - Boston Scientific Corp.'s decision not to divest part of its Endosurgery business signaled the medical devices company has confidence it can pare down its sizable debt through other means and would be better off hanging on to its most stable product line, analysts said.


Read more at Reuters.com Mergers News

Double-Take Software cuts offer size to 2.8 mln shares

(Reuters) - In a July 20 filing, the company had said it was planning
to sell 1 million shares and the selling shareholders about 2.8
million shares.





Read more at Reuters.com Government Filings News

UPDATE 3-US regulator seeks comments on 'unfair' lending

(Reuters) - WASHINGTON, Aug 3 - The U.S. Office of Thrift
Supervision on Friday asked for comment on how to address
"unfair and deceptive acts or practices" associated with
lending products.




The proposal comes at a time when U.S. banking authorities,
including the Federal Reserve, have been criticized for
responding too late to problems in home loans made to borrowers
with poor credit histories, so-called subprime loans.


Read more at Reuters.com Government Filings News

Bear hedge fund sank as Merrill protected clients

(Reuters) - Recently filed court documents in U.S. Bankruptcy Court in Manhattan reveal more details about the events that led to the collapse of two hedge funds run by Bear Stearns.




For example, the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Fund started performing poorly in early 2007, court papers show.


Read more at Reuters.com Business News

Oil near record highs; OPEC says no output rise

(Reuters) - Oil hovered near $77 a barrel on Friday, keeping in sight of this week's fresh record high after OPEC officials poured cold water on U.S. hopes for an output rise, reiterating that the world was not short of crude supplies.

U.S. oil dipped four cents at $76.82 a barrel by 0514 GMT after rising 33 cents on Thursday. Prices touched an all-time high of $78.77 on Wednesday, but sharply retreated on signs of improved U.S. refinery operations.


Read more at Reuters Africa

Gold edges higher on stabilising stock markets

(Reuters) - Gold edged higher on Friday as signs of stabilising equity markets encouraged investors to buy the metal, while a rise in the amount of bullion held by a key gold exchange traded fund to a record high lent support.

Spot gold was trading at $665.90/666.30 an ounce as of 0630 GMT, compared with $664.30/664.90 late in New York on Thursday.


Read more at Reuters Africa

New AngloGold Ashanti CEO to tackle mine deaths

(Reuters) - The incoming chief executive at the world's third biggest gold producer, AngloGold Ashanti Ltd, wants to cut the firm's mine fatalities as a top priority, he said on Friday.

Increasing deaths at South Africa's treacherous underground mines have thrust safety into the spotlight recently. The government briefly closed one of AngloGold's mines last week after two more miners were killed in a rock fall.


Read more at Reuters Africa

Gold hits 1-week high as dollar drops on jobs data

(Reuters) - Gold jumped more than one percent to a one-week high on Friday as a fall in the dollar after lower-than-expected U.S. data on jobs growth prompted investors to buy bullion.

Gold rose as high as $671.25 an ounce and was quoted at $669.60/670.40 by 1423 GMT, against $664.30/664.90 in New York late on Thursday.


Read more at Reuters Africa

UPDATE 1-US services growth eased considerably in July

(Reuters) - The Institute for Supply Management's services index
tumbled to 55.8 last month from 60.7 in June, well below
economists' median forecast for a drop to 59.0.




A number above 50 indicates the sector is still growing,
but the sharp pullback shows activity is much more subdued,
even as separate data point to a sluggish labor market.


Read more at Reuters.com Economic News

Coffee Rises as Brazil's Harvest May Be at Low End of Government Estimates

(Bloomberg) -- Coffee rose in New York to the
highest in more than seven weeks on speculation that this year's
crop in Brazil, the world's largest producer, will be at the low
end of government estimates.

Brazil's Census Bureau has forecast the harvest that runs
through October will be 37.5 million bags, while the
government's National Commodity Supply Corp., known as Conab,
estimated production would be 32.1 million bags. Exporters are
lowering their forecasts in line with Conab's estimates, said
Jack Scoville, vice president of Price Futures Group in Chicago.


Read more at Bloomberg Commodities News

RBS profits rise beats f/casts, lifts dividend 25 pct

(Reuters) - RBS said its underlying operating profit in the six months to the end of June was 5.1 billion pounds , up from 4.6 billion a year before and an average forecast of 5.04 billion pounds from a Reuters Estimates poll of four analysts.



The bank said income grew 8 percent to 14.7 billion pounds and costs as a percentage of revenue improved to 41.4 percent from 41.9 percent.


Read more at Reuters.com Market News

Toyota Q1 jumps on sales rise, yen; keeps forecast

(Reuters) - By Chang-Ran Kim, Asia auto correspondent



TOKYO, Aug 3 - Japan's Toyota Motor Corp. said its quarterly operating profit rose by a third as brisk European and North American sales combined with a softer yen to make up for chronic weakness in domestic demand.


Read more at Reuters.com Market News

Jean Coutu posts loss on US charges, ups dividend

(Reuters) - OTTAWA, Aug 3 - Canadian drug store chain Jean Coutu Group said on Friday it swung to a fourth-quarter loss as it accounted for charges from the sale of its U.S. network to Rite Aid Corp. , but it raised its quarterly dividend.



The company said it lost $6.9 million, or 3 cents a share, in the quarter, down from a profit of $30.3 million, or 12 cents a share, in the same period last year.


Read more at Reuters.com Market News

P&G sees strategic buyers looking at sale assets

(Reuters) - CFO Daley also said that P&G may look at raising prices
given the higher than expected energy and raw material costs it
now expects for fiscal 2008.








Read more at Reuters.com Market News

Hedge Funds Pluck Money From Air in $19 Billion Weather Derivatives Gamble

(Bloomberg) -- Credit Suisse Group trader Patrick
Ayash rarely reads earnings estimates and just skims news about
inflation. One thing he never misses: the daily weather report.

Ayash, 31, is part of an army of mathematicians, hedge-fund
whizzes and programmers pouring into the $19 billion market for
weather futures, financial instruments tied to everything from
storms over Kansas, an early frost in the Netherlands, or a
frigid spring in New York.


Read more at Bloomberg Exclusive News

Warren Buffett's $46 Billion Cash Pile Can Buy WellPoint, Nucor, Kohl's

(Bloomberg) -- Berkshire Hathaway Inc. Chairman Warren
Buffett is ready to spend $40 billion to $60 billion on an
acquisition, and his opportunities are expanding as stocks fall and
leveraged buyouts dry up.

Shares of health insurers, steelmakers and department stores
are as much as 19 percent cheaper than in May, when Buffett said he
would ``figure out a way'' to come up with $60 billion for the
right deal. WellPoint Inc., Nucor Corp., Kohl's Corp. and dozens
more companies are now closer to meeting his investment criteria.


Read more at Bloomberg Exclusive News

Dollar Falls Versus Yen, Euro as Payroll, Service Data Point to Slowdown

(Bloomberg) -- The dollar dropped the most in more
than a week against the yen and fell versus the euro after U.S.
data showed slowdowns in payroll growth and service industries.

Investors pushed down the dollar as the reports raised
speculation a slump in the housing market may spread to the
broader economy. Traders lifted bets the Federal Reserve will cut
interest rates by year-end, dimming the allure of dollar-
denominated assets. The yen gained as investors trimmed riskier
assets funded by loans in Japan as U.S. stocks dropped.


Read more at Bloomberg Currencies News

APEC Finance Ministers Say Flexible Currencies to Reduce Global Imbalances

(Bloomberg) -- Currency ``flexibility'' will reduce
imbalances in the global economy, according to a draft communique
from an Asia-Pacific finance ministers meeting.

``Orderly'' control of ``global imbalances remains a
priority,'' the ministers said in the draft statement from the 21-
member Asia Pacific Economic Cooperation forum meeting in Coolum,
Australia. The statement didn't mention specific currencies.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Little subprime fallout for Asia banks, investors wary

(Reuters) - HONG KONG, Aug 3 - Asian banks, domestically
focused and risk averse after the Asia crisis, should see few
losses from the U.S. subprime meltdown, rating agencies said,
but investors worry lenders could get caught in the maelstrom.




Moody's Investors Service said on Friday that the impact of
the subprime crisis on Asia's lenders would be limited, with
the largest exposure among the biggest banks through holdings
of mortgage-backed securities and collateralised debt
obligations. [ID:nWNA7262]


Read more at Reuters.com Bonds News

TREASURIES-Bond prices flat ahead of US jobs report

(Reuters) - U.S. stock index futures pointed to a flat opening on Wall
Street on Friday. Gyrations in stocks may swiftly become the main
catalyst for Treasuries in the aftermath of the jobs data.




Stocks have recently shown a strong inverse correlation to
Treasury prices, although credit concerns still helped Treasury
prices rally on Thursday in spite of U.S. equities late day surge.
The benchmark 10-year U.S. Treasury note's yield is not far above
the 2 1/2 month lows of 4.69 percent it fell to on Wednesday. Bond
yields and prices move inversely.


Read more at Reuters.com Bonds News

RPT-US RATE FUTURES-View of Fed cut inches up on jobs

(Reuters) - Futures remain priced for the Fed to keep rates steady in
August . Implied chances for a September rate cut rose to
34 percent from 30 percent on Thursday, and prospects for an
October cut firmed to 62 percent from 58 percent.




The Labor Department said 92,000 nonfarm payroll jobs were
created in July, below the median forecast of 130,000. June
payrolls were revised to 126,000 from 132,000 earlier.


Read more at Reuters.com Bonds News

China's CSI 300 Index Rises for Fourth Straight Week; Merchants Bank Gains

(Bloomberg) -- China's stocks rose to a record, with
the key index posting a fourth weekly gain in a row. China
Merchants Bank Co. led gains among lenders and property
developers on speculation profits growth will be sustained.

``Average first-half corporate earnings will increase by
about 80 percent,'' said Fan Dizhao, who helps manage about $1.8
billion at Guotai Asset Management Co. in Shanghai. ``Lenders and
developers are among those industries that are expected to report
fastest earnings growth.''


Read more at Bloomberg Stocks News

Grupo Mexico, Iochpe Maxion, Siderar, Tam, Vivo: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Argentina, Brazil, Colombia and
Mexico today. Symbols are in parentheses after the company name,
and stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News