European Bonds Gain for Second Day; 10-Year Yield Declines to 4.30 Percent

(Bloomberg) -- European government bonds advanced for
a second day in London, pushing yields down to their lowest in a
week.

The yield on the German 10-year bund, Europe's benchmark,
fell 2 basis points to 4.30 percent by 7:05 a.m. in London, its
lowest since Aug. 1.


Read more at Bloomberg Bonds News

Oil extends decline, falls 1 pct on poor US data

(Reuters) - Oil fell more than 1 percent to about $74 a barrel on Monday, extending the previous session's decline which saw prices dragged down by poor U.S. economic data.

U.S. crude, which slid as much as 91 cents, or 1.2 percent in early trade, reversed some losses and was down 59 cents at $74.89 a barrel by 0558 GMT.


Read more at Reuters Africa

Amazon leads investment in music site AmieStreet

(Reuters) - Started last October by three Brown University graduates, AmieStreet allows musicians to post songs with a variable pricing model, which is different from the one-price model used by Apple Inc.'s popular iTunes Music Store.




A new song on AmieStreet.com is initially priced at zero cents. The song is automatically given a starting price after users begin to download the song. The price rises gradually with popularity, to a maximum of 98 cents.


Read more at Reuters.com Business News

Chicago Soybeans, Corn Fall on Rain, Equity Concern; Wheat Price Declines

(Bloomberg) -- Soybean futures in Chicago fell after
favorable rain over the weekend benefited crops in the U.S.
Midwest and on speculation a drop in global equity markets will
dent buying interest in commodities. Corn and wheat also declined.

There was rain over the weekend in parts of the Midwest,
including Iowa and Illinois, which may help growth of the soybean
crop, said Kenji Kobayashi, an analyst at Kanetsu Asset
Management Co. Asian stocks fell on concern losses in the U.S.
mortgage market may slow the world's biggest economy.


Read more at Bloomberg Commodities News

UPDATE 1-Delphi, second biggest union reach tentative deal

(Reuters) - Union members will vote by mail on the tentative contract,
with the results expected by mid August, the International
Union of Electrical Workers-Communications Workers of America
said in a statement.




Delphi, which filed for bankruptcy in October 2005,
previously reached agreement with its biggest union, the United
Auto workers. Delphi has said it hopes to file a reorganization
plan in the third quarter and exit bankruptcy by the end of
2007.


Read more at Reuters.com Bonds News

Japan's Shares Drop on U.S. Concern, Strong Yen; Toyota Advances on Profit

(Bloomberg) -- Japanese stocks declined, paced by
exporters, on concern losses in the U.S. mortgage market may slow
the world's biggest economy and after the yen strengthened to a
four-month high against the dollar.

Sony Corp., the word's biggest video-game maker, fell the
most in almost five months and Canon Inc. dropped 3.2 percent.


Read more at Bloomberg Stocks News

Treasuries Advance on Signs of Slowing Economic Growth, Decline in Stocks

(Bloomberg) -- Treasuries rose on speculation
slowing economic growth and losses related to subprime mortgages
will prompt the Federal Reserve to cut interest rates this year.

Ten-year notes extended their gains into a fifth week after
reports showed employers added fewer jobs than expected last
month and bond investors are becoming less bearish. Treasuries
are on track to return 5.3 percent this year, the most since
2002, according to a Merrill Lynch & Co. index.


Read more at Bloomberg Bonds News

ONGC Videsh Offers 700,000 Barrels of Sokol Crude for Loading in October

(Bloomberg) -- ONGC Videsh Ltd., the overseas unit
of India's state-run explorer, offered 700,000 barrels of Sokol
crude oil from the Sakhalin-1 project for loading in October,
the company said in an offer document e-mailed to Bloomberg News.

Details of the offer are as follows:


Read more at Bloomberg Energy News

Australian Stocks Extend Declines; Macquarie Bank, BHP Billiton Lead Slide

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, fell 0.84 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange fell 50.60 to 5,970.40. Among the stocks in the index,
34 rose, 159 fell and 8 were unchanged.


Read more at Bloomberg Stocks News

Japanese Stocks May Drop, Led by Exporters on U.S. Economy Concern, Yen

(Bloomberg) -- Japanese stocks may decline, led by
exporters such as Sony Corp., on concern losses in the U.S.
mortgage market may slow the world's biggest economy.

Exporters may also decline after the yen strengthened to a
four-month high against the dollar, eroding the value of their
dollar-denominated sales.


Read more at Bloomberg Stocks News

Crude Oil Falls a Second Day on Concern Over Weaker U.S. Equities, Growth

(Bloomberg) -- Crude oil fell a second day in New
York after declining equity markets and weak U.S. economic data
weighed on investor confidence.

Oil dropped 2 percent last week as U.S. stock prices fell
for a third week and a report showed the nation's unemployment
rate reached a six-month high in July. Oil slipped from the
record $78.77 a barrel reached on Aug. 1 after a U.S. government
report that day showed fuel stockpiles rose as refineries ran at
the highest rates since August, 2005.


Read more at Bloomberg Energy News

Northwest Airlines' pilot union approves deal

(Reuters) - The agreement makes contractual changes on several work
rules pertaining to international flying and settles an
outstanding grievance. In exchange, Northwest will reinstate
premium pay of 50 percent for all pilots flying more than 80
hours a month.




The airline said the pact was "economically neutral" with
the premium-pay costs offset by the work rule changes and the
grievance settlement.


Read more at Reuters.com Business News

PREVIEW-Fed to weigh hit of credit crunch, market slide

(Reuters) - *Fed expected to hold benchmark overnight borrowing costs
steady at 5.25 percent




By Mark Felsenthal


Read more at Reuters.com Bonds News

China says food safety needs global cooperation

(Reuters) - A range of Chinese exports, from fish and toys to pet food and toothpaste, have been found to be mislabeled, unsafe or dangerously contaminated, creating an international backlash.




But the government has hit back, saying the problems of a few small, rogue companies should not besmirch the whole made-in-China label, insisting it does take effective action to guarantee safety.


Read more at Reuters.com Business News